Document:

Exhibit
4.2 

 

EXECUTION
VERSION

	 

 

GS
MORTGAGE SECURITIES CORPORATION II

as Depositor

 

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

as Servicer

 

AEGON
USA REALTY ADVISORS, LLC

as Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION

as Certificate Administrator

 

and

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION

as Trustee

 

______________________

 

TRUST
AND SERVICING AGREEMENT

 

Dated
as of December 6, 2016

______________________

 

VNDO
Trust 2016-350P

Commercial Mortgage Pass-Through Certificates, Series 2016-350P

	 

 

    	 	 	 

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    1
	 	 	 	 
	DEFINITIONS
	 
	Section
    1.1.	Definitions	 	5
	Section
    1.2.	Interpretation	 	54
	Section
    1.3.	Certain
    Calculations in Respect of the Trust Loan or the Whole Loan	 	54
	 	 	 	 
	ARTICLE
    2
	 	 	 	 
	DECLARATION
    OF TRUST; ORIGINAL ISSUANCE OF CERTIFICATES
	 
	Section
    2.1.	Creation
    and Declaration of Trust; Conveyance of the Trust Loan	 	57
	Section
    2.2.	Acceptance
    by the Trustee and the Certificate Administrator	 	61
	Section
    2.3.	Representations
    and Warranties of the Trustee	 	62
	Section
    2.4.	Representations
    and Warranties of the Servicer	 	63
	Section
    2.5.	Representations
    and Warranties of the Special Servicer	 	64
	Section
    2.6.	Representations
    and Warranties of the Depositor	 	65
	Section
    2.7.	Representations
    and Warranties of the Certificate Administrator	 	66
	Section
    2.8.	Representations
    and Warranties Contained in the Loan Purchase Agreement	 	68
	Section
    2.9.	Execution
    and Delivery of Certificates; Issuance of Uncertificated Lower-Tier Interests	 	71
	Section
    2.10.	Miscellaneous
    REMIC Provisions	 	72
	 	 	 	 
	ARTICLE
    3
	 	 	 	 
	ADMINISTRATION
    AND SERVICING OF THE MORTGAGE LOAN
	 
	Section
    3.1.	Servicer
    to Act as the Servicer; Special Servicer to Act as the Special Servicer	 	72
	Section
    3.2.	Sub-Servicing
    Agreements	 	74
	Section
    3.3.	Cash
    Management Account	 	75
	Section
    3.4.	Collection
    Account	 	76
	Section
    3.5.	Distribution
    Account	 	80
	Section
    3.6.	Foreclosed
    Property Account	 	81
	Section
    3.7.	Appraisal
    Reductions	 	81
	Section
    3.8.	Investment
    of Funds in the Collection Account and Any Foreclosed Property Account	 	84
	Section
    3.9.	Payment
    of Taxes, Assessments, etc	 	86
	Section
    3.10.	Appointment
    of Special Servicer	 	86
	Section
    3.11.	Maintenance
    of Insurance and Errors and Omissions and Fidelity Coverage	 	91
	Section
    3.12.	Procedures
    with Respect to the Trust Loan; Realization upon the Property	 	93

 

    	 	 i	 

     

    

 

	Section
    3.13.	Certificate
    Administrator to Cooperate; Release of Items in the Mortgage File	 	96
	Section
    3.14.	Title
    and Management of Foreclosed Property	 	96
	Section
    3.15.	Sale
    of Foreclosed Property	 	99
	Section
    3.16.	Sale
    of the Whole Loan and the Trust Loan	 	100
	Section
    3.17.	Servicing
    Compensation	 	102
	Section
    3.18.	Reports
    to the Certificate Administrator; Account Statements	 	106
	Section
    3.19.	Reserved	 	107
	Section
    3.20.	Reserved	 	107
	Section
    3.21.	Access
    to Certain Documentation Regarding the Whole Loan and Other Information	 	107
	Section
    3.22.	Inspections	 	108
	Section
    3.23.	Advances	 	108
	Section
    3.24.	Modifications
    of Loan Documents	 	112
	Section
    3.25.	Servicer
    and Special Servicer May Own Certificates	 	114
	Section
    3.26.	Rating
    Agency Confirmations	 	114
	Section
    3.27.	Miscellaneous
    Provisions	 	115
	Section
    3.28.	Companion
    Loan Intercreditor Matters	 	116
	 	 	 	 
	ARTICLE
    4
	 	 	 	 
	PAYMENTS
    AND STATEMENTS TO CERTIFICATEHOLDERS
	 
	Section
    4.1.	Distributions	 	118
	Section
    4.2.	Withholding
    Tax	 	122
	Section
    4.3.	Allocation
    and Distribution of Prepayment Fees	 	122
	Section
    4.4.	Statements
    to Certificateholders	 	123
	Section
    4.5.	Investor
    Q&A Forum and Investor Registry	 	126
	 	 	 	 
	ARTICLE
    5
	 	 	 	 
	THE
    CERTIFICATES
	 
	Section
    5.1.	The
    Certificates	 	128
	Section
    5.2.	Form
    and Registration	 	129
	Section
    5.3.	Registration
    of Transfer and Exchange of Certificates	 	131
	Section
    5.4.	Mutilated,
    Destroyed, Lost or Stolen Certificates	 	137
	Section
    5.5.	Persons
    Deemed Owners	 	138
	Section
    5.6.	Access
    to List of Certificateholders’ Names and Addresses; Special Notices	 	138
	Section
    5.7.	Maintenance
    of Office or Agency	 	139

 

    	 	 ii	 

     

    

 

	ARTICLE
    6
	 	 	 	 
	THE
    DEPOSITOR, THE SERVICER, THE SPECIAL SERVICER AND THE
	CONTROLLING
    CLASS REPRESENTATIVE
	 
	Section
    6.1.	Respective
    Liabilities of the Depositor, the Servicer and the Special Servicer	 	139
	Section
    6.2.	Merger
    or Consolidation of the Servicer or the Special Servicer	 	139
	Section
    6.3.	Limitation
    on Liability of the Depositor, the Servicer, the Special Servicer and Others	 	139
	Section
    6.4.	Termination
    of the Special Servicer Without Cause	 	140
	Section
    6.5.	The
    Controlling Class Representative	 	142
	Section
    6.6.	Servicer
    and Special Servicer Not to Resign	 	146
	Section
    6.7.	Indemnification
    by the Servicer, the Special Servicer and the Depositor	 	148
	 	 	 	 
	ARTICLE
    7
	 	 	 	 
	SERVICER
    TERMINATION EVENTS; SPECIAL
	SERVICER
    TERMINATION EVENTS;
	TERMINATION
    OF SPECIAL SERVICER WITHOUT CAUSE
	 
	Section
    7.1.	Servicer
    Termination Events; Special Servicer Termination Events	 	148
	Section
    7.2.	Trustee
    to Act; Appointment of Successor	 	152
	Section
    7.3.	Notification
    to Certificateholders, the Depositor and the Rating Agencies	 	155
	Section
    7.4.	Other
    Remedies of Trustee	 	155
	Section
    7.5.	Waiver
    of Past Servicer Termination Events and Special Servicer Termination Events	 	155
	Section
    7.6.	Trustee
    as Maker of Advances	 	156
	 	 	 	 
	ARTICLE
    8
	 	 	 	 
	THE
    TRUSTEE AND CERTIFICATE ADMINISTRATOR
	 
	Section
    8.1.	Duties
    of the Trustee and the Certificate Administrator	 	156
	Section
    8.2.	Certain
    Matters Affecting the Trustee and the Certificate Administrator	 	159
	Section
    8.3.	Neither
    the Trustee nor the Certificate Administrator is Liable for Certificates or the Trust Loan	 	162
	Section
    8.4.	Trustee
    and Certificate Administrator May Own Certificates	 	164
	Section
    8.5.	Trustee’s
    and Certificate Administrator’s Fees and Expenses	 	164
	Section
    8.6.	Eligibility
    Requirements for the Trustee and the Certificate Administrator; Errors and Omissions Insurance	 	164
	Section
    8.7.	Resignation
    and Removal of the Trustee or the Certificate Administrator	 	165
	Section
    8.8.	Successor
    Trustee or Successor Certificate Administrator	 	167

 

    	 	 iii	 

     

    

 

	Section
    8.9.	Merger
    or Consolidation of the Trustee or the Certificate Administrator	 	168
	Section
    8.10.	Appointment
    of Co-Trustee or Separate Trustee	 	168
	Section
    8.11.	Appointment
    of Authenticating Agent	 	169
	Section
    8.12.	Indemnification
    by Trustee and the Certificate Administrator	 	170
	Section
    8.13.	Certificate
    Administrator and Servicer Not Responsible for Inconsistent Payment Information	 	171
	Section
    8.14.	Access
    to Certain Information	 	171
	 	 	 	 
	ARTICLE
    9
	 	 	 	 
	TERMINATION
	 
	Section
    9.1.	Termination	 	176
	Section
    9.2.	Additional
    Termination Requirements	 	177
	Section
    9.3.	Trusts
    Irrevocable	 	177
	 	 	 	 
	ARTICLE
    10
	 	 	 	 
	MISCELLANEOUS
    PROVISIONS
	 
	Section
    10.1.	Amendment	 	177
	Section
    10.2.	Recordation
    of Agreement; Counterparts	 	180
	Section
    10.3.	Governing
    Law; Submission to Jurisdiction; Waiver of Jury Trial	 	181
	Section
    10.4.	Notices	 	182
	Section
    10.5.	Notices
    to the Rating Agencies	 	185
	Section
    10.6.	Severability
    of Provisions	 	186
	Section
    10.7.	Limitation
    on Rights of Certificateholders	 	186
	Section
    10.8.	Certificates
    Nonassessable and Fully Paid	 	187
	Section
    10.9.	Reproduction
    of Documents	 	187
	Section
    10.10.	No
    Partnership	 	187
	Section
    10.11.	Actions
    of Certificateholders	 	187
	Section
    10.12.	Successors
    and Assigns	 	188
	Section
    10.13.	Acceptance
    by Authenticating Agent, Certificate Registrar	 	188
	Section
    10.14.	Streit
    Act	 	188
	Section
    10.15.	Assumption
    by Trust of Duties and Obligations of the Loan Sellers Under the Loan Documents	 	189
	Section
    10.16.	Notice
    to Each Rating Agency	 	189
	Section
    10.17.	Exchange
    Act Rule 17g-5 Procedures	 	190
	Section
    10.18.	Cooperation
    with the Loan Sellers with Respect to Rights Under the Loan Agreement	 	193
	Section
    10.19.	PNC
    Bank, National Association	 	193

 

    	 	 iv	 

     

    

 

	ARTICLE
    11
	 	 	 	 
	EXCHANGE
    ACT REPORTING AND REGULATION AB COMPLIANCE
	 
	Section
    11.1.	Intent
    of the Parties; Reasonableness	 	194
	Section
    11.2.	Succession;
    Sub-Servicers; Subcontractors	 	194
	Section
    11.3.	Other
    Securitization Trust’s Filing Obligations	 	196
	Section
    11.4.	Form
    10-D Disclosure	 	196
	Section
    11.5.	Form
    10-K Disclosure	 	197
	Section
    11.6.	Form
    8-K Disclosure	 	197
	Section
    11.7.	Annual
    Compliance Statements	 	198
	Section
    11.8.	Annual
    Reports on Assessment of Compliance with Servicing Criteria	 	199
	Section
    11.9.	Annual
    Independent Public Accountants’ Servicing Report	 	200
	Section
    11.10.	Significant
    Obligor	 	201
	Section
    11.11.	Sarbanes-Oxley
    Backup Certification	 	202
	Section
    11.12.	Indemnification	 	203
	Section
    11.13.	Amendments	 	204
	Section
    11.14.	Termination
    of the Certificate Administrator	 	204
	Section
    11.15.	Termination
    of Sub-Servicing Agreements	 	204
	Section
    11.16.	Notification
    Requirements and Deliveries in Connection with Securitization of a Companion Loan	 	204
	 	 	 	 
	ARTICLE
    12 REMIC ADMINISTRATION
	 
	Section
    12.1.	REMIC
    Administration	 	206
	Section
    12.2.	Foreclosed
    Property	 	209
	Section
    12.3.	Prohibited
    Transactions and Activities	 	211
	Section
    12.4.	Indemnification
    with Respect to Certain Taxes and Loss of REMIC Status	 	212

 

	EXHIBITS
	 
	Exhibit
    A-1	Form
    of Class A Certificates
	Exhibit
    A-2	Form
    of Class X-A Certificates
	Exhibit
    A-3	Form
    of Class B Certificates
	Exhibit
    A-4	Form
    of Class C Certificates
	Exhibit
    A-5	Form
    of Class D Certificates
	Exhibit
    A-6	Form
    of Class E Certificates
	Exhibit
    A-7	Form
    of Class R Certificates
	Exhibit
    B	Form
    of Request for Release
	Exhibit
    C	Form
    of Transfer Certificate for Rule 144A Global Certificate to Temporary Regulation S Global Certificate
	Exhibit
    D	Form
    of Transfer Certificate for Rule 144A Global Certificate to Regulation S Global Certificate

 

    	 	 v	 

     

    

 

	Exhibit
    E	Form
    of Transfer Certificate for Temporary Regulation S Global Certificate to Rule 144A Global Certificate during Restricted Period
	Exhibit
    F	Form
    of Certification to be given by Beneficial Owner of Temporary Regulation S Global Certificate
	Exhibit
    G	Form
    of Transfer Certificate of Non-Book Entry Certificate to Temporary Regulation S Global Certificate
	Exhibit
    H	Form
    of Transfer Certificate of Non-Book Entry Certificate to Regulation S Global Certificate
	Exhibit
    I	Form
    of Transfer Certificate of Non-Book Entry Certificate to Rule 144A Global Certificate
	Exhibit
    J-1	Investment
    Representation Letter
	Exhibit
    J-2	Form
    of Affidavit Pursuant to Section 860E(e) of the Internal Revenue Code of 1986
	Exhibit
    J-3	Form
    of Transferor Letter
	Exhibit
    K-1	Form
    of Investor Certification for Non-Borrower Related Parties
	Exhibit
    K-2	Form
    of Investor Certification for Borrower Related Parties
	Exhibit
    K-3	Form
    of Investor Certification for Exercising Voting Rights
	Exhibit
    L	Applicable
    Servicing Criteria
	Exhibit
    M	[Reserved]
	Exhibit
    N	Form
    of Power of Attorney
	Exhibit
    O	Form
    of ERISA Representation Letter
	Exhibit
    P	Form
    of Notice to Parties of a Control Termination Event / Consultation Termination Event
	Exhibit
    Q	Form
    of Online Vendor Certification
	Exhibit
    R	Additional
    Form 10-D Disclosure
	Exhibit
    S	Additional
    Form 10-K Disclosure
	Exhibit
    T	Form
    8-K Disclosure Information
	Exhibit
    U	Additional
    Disclosure Notification
	Exhibit
    V	Initial
    Sub-Servicers
	Exhibit
    W	Form
    of Back-up Certification
	Exhibit
    X	Form
    of NRSRO Certification
	Exhibit
    Y-1	Form
    of Transferor Certificate for Transfer of the Excess Servicing Fee Rights
	Exhibit
    Y-2	Form
    of Transferee Certificate for Transfer of the Excess Servicing Fee Rights

 

    	 	 vi	 

     

    

 

THIS
TRUST AND SERVICING AGREEMENT (“Agreement”) is dated as of December 6, 2016, among GS Mortgage Securities Corporation
II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee.

 

INTRODUCTORY
STATEMENT

 

Terms
not defined in this Introductory Statement shall have the meanings specified in Article 1 hereof.

 

Reference
is made to that certain 10-year and one month mortgage loan (the “Whole Loan”), evidenced by six promissory
notes (the “Notes”).

 

The
Whole Loan was co-originated by Goldman Sachs Mortgage Company (“GSMC”) and Deutsche Bank AG, New York Branch
(“DBNY”, and together with GSMC, the “Originators”), pursuant to that certain Loan Agreement,
dated as of December 2, 2016 (the “Loan Agreement”), by and among the Originators and 350 Park EAT LLC
(the “Loan Borrower”). As of the Cut-off Date, the aggregate outstanding principal balance of the Whole Loan
was $400,000,000.

 

The
Whole Loan consists of (a) a portion that has an unpaid principal balance as of the Cut-off Date of $233,332,000 (the “Trust
Loan”), and is evidenced by Promissory Note A-1 (as the same may hereafter be amended, restated, replaced, extended,
renewed, supplemented, consolidated, severed, split or otherwise modified, “Note A-1”), Promissory Note A-3
(as the same may hereafter be amended, restated, replaced, extended, renewed, supplemented, consolidated, severed, split or otherwise
modified, “Note A-3” and, together with Note A-1, the “Trust A Notes”), Promissory Note
B-1 (as the same may hereafter be amended, restated, replaced, extended, renewed, supplemented, consolidated, severed, split or
otherwise modified “Note B-1”) and Promissory Note B-2 (as the same may hereafter be amended, restated, replaced,
extended, renewed, supplemented, consolidated, severed, split or otherwise modified, “Note B-2” and, together
with Note B-1, the “B Notes” and, together with the Trust A Notes, the “Trust Notes”), and
(b) a portion that has an unpaid principal balance as of the Cut-off Date of $166,668,000 (the “Companion Loans”),
and is evidenced by Promissory Notes A-2 and A-4 (as the same may hereafter be amended, restated, replaced, extended, renewed,
supplemented, consolidated, severed, split or otherwise modified, the “Companion Loan Notes” and, together
with the Trust A Notes, the “A Notes”). The Trust A Notes, the B Notes and the Companion Loan Notes are collectively
referred to herein as the “Notes” and, each, as a “Note”.

 

German
American Capital Corporation (“GACC”) acquired from DBNY its respective percentage interest in the Whole Loan
on or before the Closing Date. On or prior to the Closing Date, each of GSMC
and GACC (each in such capacity, a “Loan Seller” and collectively, the “Loan Sellers”) each
sold their respective interest in the Trust Loan to the Depositor pursuant to a Mortgage Loan Purchase and Sale Agreement, dated
as of the date hereof, by and among the Loan Sellers and the Depositor (the “Loan Purchase Agreement”).

 

    	 	 	 

     

    

 

As
of the Closing Date, Note A-2 was held by GSMC and Note A-4 was held by GACC. The relative rights of the respective lenders in
respect of the Whole Loan are set forth in a co-lender agreement dated as of December 2, 2016 (as amended, restated, supplemented
or otherwise modified from time to time, the “Co-Lender Agreement”), between the holders of the Notes related
to the Trust Loan and the holders of the Companion Loan Notes. From and after the Closing Date, the entire Whole Loan is to be
serviced and administered in accordance with this Agreement.

 

As
provided for herein, the Certificate Administrator shall elect or shall cause elections to be made to treat designated portions
of the Trust Fund for federal income tax purposes as two separate real estate mortgage investment conduits (the “Upper-Tier
REMIC” and the “Lower-Tier REMIC” and, each, a “REMIC”). Each Class of Regular
Certificates will represent a single Class of “regular interests” in the Upper-Tier REMIC, as further described herein.
Each Class of Uncertificated Lower-Tier Interests will represent a single class of “regular interests” in the Lower-Tier
REMIC as further described herein. The Class R Certificates will evidence the sole Class of “residual interests”
in each of the Upper-Tier REMIC and Lower-Tier REMIC for purposes of the REMIC Provisions under federal income tax law.

 

In
exchange for the Trust Loan and the Uncertificated Lower-Tier Interests, the Trust will issue to the Depositor the Class A, Class X-A,
Class B, Class C, Class D, Class E and Class R Certificates (collectively, the “Certificates”),
which Certificates in the aggregate will evidence the entire ownership interest in the Trust. The Trust Fund consists principally
of the Trust Loan, the Loan Documents (exclusive of the rights of the Companion Loan Holders thereunder) and all payments under,
and proceeds of, the Trust Loan following the Cut-off Date.

 

The
Depositor intends to sell the Certificates to the Initial Purchasers in an offering exempt from the registration requirements
of the federal securities laws.

 

    2

     

    

 

UPPER-TIER
REMIC

 

As
further described in Section 2.10, the Class A, Class X-A,
Class B, Class C, Class D and Class E Certificates will evidence “regular interests” in the Upper-Tier REMIC
created hereunder. The Class UT-R Interest will constitute the sole Class of “residual interests” in the Upper-Tier
REMIC created hereunder, and will be evidenced by the Class R Certificates. The following table sets forth the class designation,
the Pass-Through Rate and the aggregate initial Certificate Balance (the “Original Certificate Balance”) or
Notional Amount (“Original Notional Amount”), as applicable, for each Class of Certificates and the Class UT-R
Interest comprising the interests in the Upper-Tier REMIC created hereunder:

 

	Class

    Designation	 	Approximate
                                         Initial 
 Pass-Through Rate 
 
 (per
                                         annum) 
 
	 	Original
    Certificate 
 Balance or Original 
 Notional Amount
	Class A	 	3.80500%     	 	$94,018,000
	Class X-A	 	3.90263%(1)	 	$94,018,000
	Class B	 	3.90263%(2)	 	$20,893,000
	Class C	 	3.90263%(2)	 	$14,409,000
	Class D	 	3.90263%(2)	 	$46,879,000
	Class E	 	3.90263%(2)	 	$57,133,000
	Class UT-R	 	       None(3)	 	None(3)

 

 

		(1)	The
                                         Class X-A Certificates will not have a Certificate Balance and will not be entitled
                                         to receive distributions of principal. Interest will accrue on such Class at the applicable
                                         Pass-Through Rate thereof on the applicable Notional Amount thereof. The Notional Amount
                                         of the Class X-A Certificates will be equal to the Certificate Balance of the Class A
                                         Certificates. The Class X-A Pass-Through Rate for any Certificate Interest Accrual Period
                                         is a variable per annum rate and will equal the Class X Strip Rate for the Class
                                         A Certificates.

 

		(2)	For
                                         any Distribution Date, the Pass-Through Rates of the Class B, Class C, Class D and Class
                                         E Certificates will be a per annum rate equal to the Net Trust Loan Rate.

 

		(3)	The
                                         Class UT-R Interest (evidenced by the Class R Certificates) will not have a Certificate
                                         Balance or Notional Amount, will not bear interest and will not be entitled to distributions
                                         of Prepayment Fees. Any Available Funds remaining in the Upper-Tier Distribution Account,
                                         after all required distributions under this Agreement have been made to each other Class
                                         of Certificates and the Class LT-R Interest, will be distributed to the Holders
                                         of the Class R Certificates in respect of the UT-R Interest.

 

    3

     

    

 

LOWER-TIER
REMIC

 

As
further described in Section 2.10, the Class LA, Class LB, Class LC, Class LD and Class LE Uncertificated Interests will
evidence “regular interests” in the Lower-Tier REMIC created hereunder. The Class LT-R Interest will constitute the
sole Class of “residual interests” in the Lower-Tier REMIC created hereunder and will be evidenced by the Class R
Certificates. The following table sets forth the initial Lower-Tier Principal Amounts and Pass-Through Rates for the Uncertificated
Lower-Tier Interests and the Class LT-R Interest comprising the interests in the Lower-Tier REMIC created hereunder:

 

	Class

        Designation

        
	 	Original
        Lower-Tier

        Principal Amount

        

	Class LA	 	$94,018,000
	Class
    LB	 	$20,893,000
	Class LC	 	$14,409,000
	Class LD	 	$46,879,000
	Class LE	 	$57,133,000
	Class
    LT-R	 	None(1)

 

 

		(1)	The
                                         Class LT-R Interest (evidenced by the Class R Certificates) will not have a Certificate
                                         Balance or Notional Amount, will not bear interest and will not be entitled to distributions
                                         of Prepayment Fees. Any Available Funds constituting assets remaining in the Lower-Tier
                                         Distribution Account after distributing the Lower-Tier Distribution Amount shall be distributed
                                         to the Holders of the Class R Certificates in respect of the Class LT-R Interest
                                         (but only to the extent of the Available Funds for such Distribution Date, if any, remaining
                                         in the Lower-Tier Distribution Account).

 

The
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee are entering into this Agreement,
and the Trustee is accepting the trusts created hereby, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged.

 

    4

     

    

 

W I T N E S S E T H    T H A T:

 

In
consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 

Article
1

DEFINITIONS

 

Section 1.1. Definitions.
Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the
following meanings and such meanings shall be equally applicable to the singular and plural forms of such terms, as the
context may require.

 

“15Ga-1
Notice”: As defined in Section 2.8(a).

 

“15Ga-1
Notice Provider”: As defined in Section 2.8(a).

 

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

 

“17g-5
Information Provider’s Website”: The 17g-5 Information Provider’s Internet website, which shall initially
be located within the Certificate Administrator’s Website (www.ctslink.com), under the “NRSRO” tab on the page
relating to this transaction, access to which is limited to the Depositor and NRSROs who have provided an NRSRO Certification
to the 17g-5 Information Provider.

 

“A
Notes”: As defined in the Introductory Statement.

 

“Acceptable
Insurance Default”: Any modification or waiver of any material provision in the Loan Documents governing the type, nature
or amount of insurance coverage required to be obtained and maintained by the Loan Borrower that is approved or consented to by
the Special Servicer pursuant to this Agreement.

 

“Accepted
Servicing Practices”: As defined in Section 3.1.

 

“Acquisition
Date”: The date upon which, under the Code (and in particular the REMIC Provisions and Section 856(e) of the Code),
the Trust Fund is deemed to have acquired the Property.

 

“Additional
                                         Disclosure Notification”: The form of notification to be included with any
                                         Additional Form 10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K Disclosure
                                         Information which is attached to this Agreement as Exhibit U.

 

“Additional
Form 10-D Disclosure”: The information described in the Form 10-D items set forth under the “Item on Form 10-D”
column on Exhibit R hereto.

 

    5

     

    

 

“Additional
Form 10-K Disclosure”: The information described in the Form 10-K items set forth under the “Item on Form 10-K”
column on Exhibit S hereto.

 

“Additional
Servicer”: Each Affiliate of the Servicer or the Special Servicer that Services the Whole Loan and each Person who is
not an Affiliate of the Servicer, other than the Special Servicer, who Services the Whole Loan as of any date of determination.

 

“Administrative
Advances”: As defined in Section 3.4(c).

 

“Administrative
Fee Rate”: The sum of the Servicing Fee Rate, the Certificate Administrator Fee Rate and the CREFC® Intellectual
Property Royalty License Fee.

 

“Advance”:
Any Administrative Advance, Monthly Payment Advance or any Property Protection Advance.

 

“Advance
Rate”: As defined in Section 3.23(d).

 

“Adverse
REMIC Event”: As defined in Section 12.1(j).

 

“Affiliate”:
With respect to any specified Person, any other Person, directly or indirectly, controlling or controlled by or under common control
with such specified Person. For the purposes of this definition, “control” when used with respect to any specified
Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership
of voting securities, by contract, relation to individuals or otherwise, and the terms “controlling” and “controlled”
have meanings correlative to the foregoing. The Trustee and the Certificate Administrator may request and rely upon an Officer’s
Certificate of the Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Loan Borrower or the Depositor,
as applicable, to determine whether any Person is an Affiliate of the Servicer, the Special Servicer, the Trustee, the Certificate
Administrator, the Loan Borrower or the Depositor.

 

“Affiliate
Ethical Wall”: Reasonable policies and procedures to be maintained by an Affiliate of the Depositor, the Servicer, the
Special Servicer, the Certificate Administrator or the Trustee, as applicable, taking into account the nature of its business,
to ensure (1) that such Affiliate will not obtain Confidential Information from the Depositor, the Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as applicable, and (2) that the Depositor, the Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as applicable, will not obtain information regarding Investments in the
Certificates from such Affiliate. Under such policies and procedures maintained by such Affiliate, (i) policies and procedures
restricting the flow of information exist, and shall be maintained by such Affiliate, between such Affiliate, on the one hand
and the Depositor, the Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, on the other;
(ii) such policies and procedures restricting the flow of information operate in both directions so as to include (a) policies
and procedures against the disclosure of Confidential Information from the Depositor, the Servicer, the Special Servicer, the
Certificate Administrator or the Trustee, as applicable, to such Affiliate and (b) policies and procedures against the disclosure
of information regarding Investments in Certificates from such Affiliate to the Depositor, the Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable; (iii) the senior management personnel of such Affiliate who
have obtained

 

    6

     

    

 

Confidential Information in the course of their exercise of general managerial responsibilities may not participate
in or use that information to influence Investment Decisions with respect to the Certificates, nor may they pass that information
to others for use in such activities; and (iv) such senior management personnel who have obtained information regarding Investments
in the course of their exercise of general managerial responsibilities may not use that information to influence servicing recommendations.

 

“Agreement”:
This Trust and Servicing Agreement (including all exhibits hereto) and all amendments and supplements hereto.

 

“Applicable
Laws”: As defined in Section 8.2(d).

 

“Applicable
Servicing Criteria”: With respect to the Servicer, the Special Servicer or any Servicing Function Participant, the Servicing
Criteria applicable to it, as set forth on Exhibit L attached hereto. For clarification purposes, multiple parties
can have responsibility for the same Applicable Servicing Criteria and with respect to a Servicing Function Participant engaged
by the Servicer or the Special Servicer, the term “Applicable Servicing Criteria” may refer to a portion of
the Applicable Servicing Criteria applicable to the Servicer or the Special Servicer, as the case may be.

 

“Applied
Realized Loss Amount”: All amounts applied to reduce the Certificate Balance of a Class of Certificates in respect of
Realized Losses pursuant to Section 4.1(g).

 

“Appraisal”:
With respect to the Property or the Foreclosed Property, an appraisal of such Property or Foreclosed Property, conducted by an
Independent Appraiser in accordance with the standards of the Appraisal Institute and certified by such Independent Appraiser
as having been prepared in accordance with the requirements of the Standards of Professional Practice of the Appraisal Institute
with an “MAI” designation and the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation,
as well as the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended; provided that after an
initial “Appraisal” has been obtained pursuant to the terms of this Agreement, an update of such initial Appraisal
shall be considered an “Appraisal” hereunder for all purposes. All Appraisals (and updates thereof) obtained pursuant
to the terms of this Agreement shall include a valuation using the “income capitalization – discounted cash flow
approach” and set forth the discount rate and terminal capitalization rate utilized by the Appraiser. All calculations under
this Agreement requiring that a “value” or “appraised value” be used with respect to the Property or the
Foreclosed Property shall use the most recently determined appraised value set forth in an Appraisal (or update thereof) unless
a different valuation is specifically required (such as the appraised value of the Property at origination).

 

“Appraisal
Reduction Amount”: As to the Whole Loan and as of any date of
determination, an amount equal to the excess of (i) the outstanding principal balance of the Whole Loan on such date plus
the sum of (A) all accrued and unpaid interest on the Whole Loan at the Whole Loan Rate, (B) all unreimbursed Administrative
Advances, Property Protection Advances and interest on all Advances (including advances with respect to a Companion Loan made
under an Other Pooling and Servicing Agreement) at the Advance Rate in respect of the Whole Loan or the Property, (C) the
amount of any Advances (including advances with respect

 

    7

     

    

 

to
a Companion Loan made under an Other Pooling and Servicing Agreement) and interest thereon previously reimbursed from
principal collections on the Whole Loan that have not otherwise been recovered from the Loan Borrower, (D) all currently
due and unpaid real estate taxes and assessments and insurance premiums and all other amounts due and unpaid in respect of
the Property (which taxes, premiums and other amounts have not been the subject of an Advance) and (E) to the extent not
duplicative of amounts in clauses (B), (C) or (D), all unpaid Trust Fund Expenses then due under the Loan Agreement over
(ii) the sum of (A)(x) 90% of the appraised value (as determined by an updated appraisal of the Property that was
performed within 9 months prior to the Appraisal Reduction Event if the Special Servicer is not aware of any material change
in the market or condition or value of the Property since the date of such appraisal, in which case such appraisal may be
used) of the Property or (y) if the events described in clauses (i) through (iii) in Section 3.7(e)
occur with respect to the Property, the Assumed Appraised Value of the Property, in each case, less the amount of any liens
(exclusive of Permitted Encumbrances) on the Property senior to the lien of the Loan Documents plus (B) any escrows with
respect to the Whole Loan, including for taxes and insurance premiums

 

The
Whole Loan shall be treated as a single loan for purposes of calculating the Appraisal Reduction Amount. Appraisal Reduction Amounts
with respect to the Whole Loan shall be allocated, first, to the B Notes, on a pro rata and pari passu basis
(based on their relative outstanding principal balances) up to their aggregate outstanding principal balance, and then
to the Trust A Notes and the Companion Loan Notes on a pro rata and pari passu basis (based on their relative outstanding
principal balances).

 

“Appraisal
Reduction Event”: With respect to the Whole Loan, the earliest of (i) 60 days after an uncured payment delinquency
(other than a delinquency in respect of the Balloon Payment) occurs in respect of the Whole Loan, (ii) 90 days after
an uncured delinquency occurs in respect of the Balloon Payment for the Whole Loan unless a refinancing is anticipated within
120 days after the Stated Maturity Date of the Whole Loan (as evidenced by a written refinancing commitment from an acceptable
lender and reasonably satisfactory in form and substance to the Servicer and, so long as no Control Termination Event is continuing,
the Controlling Class Representative, that provides that such refinancing shall occur within 120 days after the Stated Maturity
Date), in which case 120 days after such uncured delinquency, (iii) 60 days after a reduction in Monthly Payments,
(iv) 60 days after an extension of the Stated Maturity Date of the Whole Loan (except for an extension within the time
periods described in clause (ii) above), (v) immediately after a receiver has been appointed in respect of the Property
on behalf of the Trust or any other creditor, (vi) immediately after the Loan Borrower declares, or becomes the subject of,
bankruptcy, insolvency or similar proceedings, admits in writing the inability to pay its debts as they come due or makes an assignment
for the benefit of creditors, or (vii) immediately after the Property becomes a Foreclosed Property.

 

“Asset
Status Report”: As defined in Section 3.10(h).

 

“Assignment
of Mortgage”: An assignment of the Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, which is sufficient under the laws of the jurisdiction in which the Property is located to reflect of record the assignment
of the Mortgage to the Trustee on behalf of the Trust Fund; provided, however, that the Trustee, the 

 

    8

     

    

 

Certificate
Administrator, the Servicer and the Special Servicer shall not be responsible for determining whether any such assignment is legally
sufficient or in recordable form.

 

“Assumed
Appraised Value”: As defined in Section 3.7(e).

 

“Assumed
Loan Payment Date”: With respect to the Trust Loan for any calendar month following a delinquency in the payment of
the Balloon Payment or the foreclosure of the Whole Loan or acceptance by the Special Servicer on behalf of the Trust Fund and
the Companion Loan Holders of a deed-in-lieu of foreclosure or comparable conversion of the Whole Loan, the date that would have
been the Loan Payment Date in such calendar month if the Stated Maturity Date or the foreclosure of the Whole Loan or acceptance
by the Special Servicer on behalf of the Trust Fund and the Companion Loan Holders of a deed-in-lieu of foreclosure or comparable
conversion of the Whole Loan had not occurred.

 

“Assumed
Monthly Payment”: With respect to any Distribution Date (following the Stated Maturity Date or the foreclosure of the
Whole Loan or acceptance by the Special Servicer on behalf of the Trust Fund and the Companion Loan Holders of a deed-in-lieu
of foreclosure), the scheduled monthly payment of interest that would have been due in respect of the Trust Loan on its Stated
Maturity Date and each subsequent Loan Payment Date (or Assumed Loan Payment Date) if the Trust Loan had been required to continue
to accrue interest in accordance with its terms in effect immediately prior to, and without regard to the occurrence of the Stated
Maturity Date (or after the occurrence of a foreclosure, in whole or in part, of the Whole Loan or acceptance by the Special Servicer
on behalf of the Trust Fund and the Companion Loan Holders of a deed-in-lieu of foreclosure or comparable conversion of the Whole
Loan or a portion of the Whole Loan, in respect of the Whole Loan on the last Loan Payment Date (or Assumed Loan Payment Date)
prior to its foreclosure or acceptance of a deed-in-lieu of foreclosure), in each case as such terms and amortization schedule
may have been modified, and such Stated Maturity Date may have been extended, in connection with a bankruptcy or similar proceeding
involving the parties under the Whole Loan or a modification, waiver or amendment granted or agreed to by the Servicer or Special
Servicer.

 

“Authenticating
Agent”: As defined in Section 8.11(a).

 

“Available
Funds”: On each Distribution Date shall be equal to (i) (x) all amounts (other than Prepayment Fees) received in
respect of principal and interest on the Trust Loan during the related Collection Period or advanced in respect of interest with
respect to such Distribution Date (including, without limitation, any Repurchase Price (or any Loan Seller Percentage Interest
thereof), Net Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds received by the Trust) excluding payments received
that are due on a subsequent Loan Payment Date and reduced by (y) the Available Funds Reduction Amount (other than amounts
payable to or on behalf of the Companion Loan Holders), plus (ii) (x) if such Distribution Date is the Distribution Date occurring
in March of each year (or February, if such Distribution Date is the final Distribution Date), Withheld Amounts to be withdrawn
from the Interest Reserve Account for such Distribution Date, and reduced by (y) an amount equal to the applicable Withheld Amount
in the case of the February Distribution Date and any January Distribution Date occurring in a year that is not a leap year (unless,
in either case, such Distribution Date is

 

    9

     

    

 

the final Distribution Date). Available Funds will not include any amounts allocable
to the Companion Loans under the Co-Lender Agreement.

 

“Available
Funds Reduction Amount”: As of each Distribution Date, all amounts withdrawn on the related Remittance Date or during
the related Collection Period from the Collection Account pursuant to Section 3.4(c).

 

“Balloon
Payment”: The payment of the outstanding principal balance of the Whole Loan, Trust Loan or a Companion Loan, as applicable,
together with all unpaid interest, due and payable on the Stated Maturity Date.

 

“Base
Interest Fraction”:  With respect to any principal prepayment of the Trust Loan and any Class of Sequential Pay
Certificates, a fraction (A) whose numerator is the greater of (x) zero and (y) the excess of (i) the Pass-Through Rate on such
Class of Sequential Pay Certificates over (ii) the Treasury Constant Yield as provided by the Servicer used in calculating the
Prepayment Fees, as applicable, with respect to such principal prepayment and (B) whose denominator is the excess of (i) the Trust
Loan Rate over (ii) the Treasury Constant Yield used in calculating the Prepayment Fee, as applicable, with respect to such principal
prepayment; provided, however, that under no circumstances shall the Base Interest Fraction be greater than one.  If the
Treasury Constant Yield is greater than the Trust Loan Rate, then the Base Interest Fraction shall equal zero.

 

“Beneficial
Owner”: With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Person maintaining an account with such Depository (directly as a Depository
Participant or indirectly through a Depository Participant, in accordance with the rules of such Depository). Each of the Depositor,
the Trustee, the Certificate Administrator, the Special Servicer and the Servicer, as applicable, shall have the right to require,
as a condition to acknowledging the status of any Person as a Beneficial Owner under this Agreement, that such Person provide
an Investor Certification, and each of Depositor, the Trustee, the Certificate Administrator, the Special Servicer and the Servicer
shall be entitled to rely on such Investor Certification.

 

“Benefit
Plan”: As defined in Section 5.3(m).

 

“B
Notes”: As defined in the Introductory Statement.

 

“Borrower
Affiliate”: Means any of the Loan Borrower, a Restricted Holder, the Property Manager, the Sponsor, the general partner
or managing member of the Loan Borrower, the manager of the Property or the Sponsor or any of their respective agents or Affiliates.

 

“Borrower
Related Party”: Any of (a) the Loan Borrower, the Sponsor, the Property Manager or a Restricted Holder, (b) any other
Person controlling or controlled by or under common control with a Loan Borrower, Sponsor, Property Manager or Restricted Holder,
as applicable, or (c) any other Person owning, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests
in a Loan Borrower, Sponsor, Property Manager or Restricted Holder, as applicable. For the purposes of this definition, “control”
when used with respect to any specified Person means the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract or

 

    10

     

    

 

otherwise and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.

 

“Breach”:
As defined in Section 2.8(a).

 

“Business
Day”: Any day other than a Saturday and a Sunday or
any other day on which the following are not open for business: (a) national banks in the States of New York, North Carolina,
California or Kansas or the Commonwealth of Pennsylvania or (b) the office of the Trustee, the Certificate Administrator, the
Servicer, the Special Servicer or the financial institution that maintains the Collection Account.

 

“Cash
Management Account”: As defined in the Loan Agreement.

 

“Cash
Management Agency Agreement”: As defined in the Loan Agreement.

 

“Cash
Management Agreement”: As defined in the Loan Agreement.

 

“CERCLA”:
The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

“Certificate”:
Any Class A, Class X-A, Class B, Class C, Class D, Class E or Class R Certificate.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator, or if any successor
certificate administrator is appointed as herein provided, such certificate administrator.

 

“Certificate
Administrator Fee”: With respect to the Trust Loan and for any Distribution Date, an amount accrued during the related
Interest Accrual Period at the Certificate Administrator Fee Rate on the outstanding principal balance of the Trust Loan as of
the close of business on the Distribution Date in such Interest Accrual Period; provided that such amounts shall be computed
for the same period and on the same interest accrual basis respecting which any related principal and interest payment due or
deemed due on the Trust Loan is computed and shall be prorated for partial periods. A portion of the Certificate Administrator
Fee, shall be payable to the Trustee as the Trustee Fee. For the
avoidance of doubt, the Certificate Administrator Fee shall be deemed to be payable from the Lower-Tier REMIC.

 

“Certificate
Administrator Fee Rate”: 0.0095% per annum.

 

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

 

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

 

“Certificate
Balance”: With respect to any outstanding Class of Sequential Pay Certificates at any date, an amount equal to the aggregate
initial Certificate Balance of such

 

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Class as set forth in Section 5.1(a) less the sum of (a) all amounts distributed
to Holders of Certificates of such Class on all previous Distribution Dates and treated under this Agreement as allocable to principal
and (b) the aggregate amount of Realized Losses allocated to such Class of Certificates, if any, pursuant to Section 4.1(g)
on all previous Distribution Dates. With respect to any individual Certificate in any such Class, the product of (x) the
Percentage Interest represented by such Certificate multiplied by (y) the Certificate Balance of such Class.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and the registrar appointed pursuant
to Section 5.3(a).

 

“Certificateholder”
or “Holder”: With respect to any Certificate, the Person in whose name a Certificate is registered in the Certificate
Register; provided, however, that solely for the purposes of providing, distributing or otherwise making available
any reports, statements or other information required or permitted to be provided or distributed or made available to a Certificateholder
under this Agreement, a Certificateholder shall include any Beneficial Owner to the extent that the Person providing, distributing
or making available such reports, statements or other information has received from such Beneficial Owner information and a written
certification reasonably acceptable to such Person regarding its name, and address and beneficial ownership of a Certificate;
and provided further that, solely for the purposes of giving any consent or taking of any action pursuant to this Agreement
(except as set forth in the following sentence), any Certificate beneficially owned by the Servicer, the Special Servicer, the
Certificate Administrator, the Trustee, any Borrower Related Party, or any of their subservicers or respective Affiliates, shall
be deemed not to be outstanding and the Voting Rights to which it is entitled shall not be taken into account in determining whether
the requisite percentage of Voting Rights necessary to effect any such consent or take any such action has been obtained. For
purposes of obtaining the consent of Certificateholders to an amendment of this Agreement, any Certificate beneficially owned
by the Certificate Administrator, the Trustee, the Servicer or the Special Servicer or any Affiliates thereof shall be deemed
to be outstanding, provided that if such amendment relates to the termination, increase in compensation or material reduction
of obligations of the Certificate Administrator, the Trustee, the Servicer or the Special Servicer (other than any replacement
of the Special Servicer by the Controlling Class Representative under this Agreement), as applicable, or benefit the Certificate
Administrator, the Trustee, the Servicer or the Special Servicer, as applicable in its capacity as such or any of its affiliates
(other than solely in its capacity as a Certificateholder) in any material respect, then such Certificate will be deemed not to
be outstanding; provided, however, that if an affiliate of the Certificate Administrator, the Trustee, the Servicer
or the Special Servicer has provided an Investor Certification in which it has certified as to the existence of an Affiliate Ethical
Wall between it and the Trustee, the Certificate Administrator, the Servicer or the Special Servicer, as applicable, then any
Certificates beneficially owned by such affiliate will be deemed to be outstanding. The Trustee and the Certificate Registrar
may obtain and conclusively rely upon an Officer’s Certificate of the Servicer, the Special Servicer, the Loan Borrower,
any manager of the Property, the Sponsor or any sub servicer to determine whether a Certificate is beneficially owned by an Affiliate
of any of them. Notwithstanding the foregoing, the restrictions above shall not apply (i) to the exercise of the rights of the
Servicer, the Special Servicer or an Affiliate of the Servicer or the Special Servicer, if any, as a member of the Controlling
Class (but not if it is a Borrower Related Party) or (ii) to any Affiliate of the Depositor, the Servicer, the Special Servicer,
the Trustee or the Certificate Administrator that has provided an Investor Certification

 

    12

     

    

 

in which it has certified as to the existence
of certain policies and procedures restricting the flow of information between it and the Depositor, the Servicer, the Special
Servicer, the Trustee or the Certificate Administrator, as applicable.

 

“Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of the Special Servicer, the
holders of Sequential Pay Certificates evidencing at least 66 2/3% of the aggregate Voting Rights (taking into account application
of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance of the Certificates) of all Sequential Pay Certificates.

 

“Certification
Parties”: As defined in Section 5.3(m).

 

“Certifying
Person”: As defined in Section 5.3(m).

 

“Certifying
Servicer”: As defined in Section 11.7.

 

“Class”:
With respect to the Certificates, all of the Certificates bearing the same alphabetical designation, and each Uncertificated Lower-Tier
Interest.

 

“Class A
Certificate”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form set
forth in Exhibit A-1 hereto and designated as a Class A Certificate.

 

“Class A
Pass-Through Rate”: As set forth in the Upper-Tier REMIC section of the Introductory Statement of this Agreement.

 

“Class B
Certificate”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form set
forth in Exhibit A-3 hereto and designated as a Class B Certificate.

 

“Class B
Pass-Through Rate”: As set forth in the Upper-Tier REMIC section of the Introductory Statement of this Agreement.

 

“Class C
Certificate”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form set
forth in Exhibit A-4 hereto and designated as a Class C Certificate.

 

“Class C
Pass-Through Rate”: As set forth in the Upper-Tier REMIC section of the Introductory Statement of this Agreement.

 

“Class D
Certificate”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form set
forth in Exhibit A-5 hereto and designated as a Class D Certificate.

 

“Class D
Pass-Through Rate”: As set forth in the Upper-Tier REMIC section of the Introductory Statement of this Agreement.

 

    13

     

    

 

“Class
E Certificate”: A Certificate executed and authenticated by the Certificate Administrator in substantially the form
set forth in Exhibit A-6 hereto and designated as a Class E Certificate.

 

“Class
E Pass-Through Rate”: As set forth in the Upper-Tier REMIC section of the Introductory Statement of this Agreement.

 

“Class LA
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Lower-Tier section of
the Introductory Statement.

 

“Class LB
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Lower-Tier section of
the Introductory Statement.

 

“Class LC
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Lower-Tier section of
the Introductory Statement.

 

“Class LD
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Lower-Tier section of
the Introductory Statement.

 

“Class LE
Uncertificated Interest”: A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC
and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Lower-Tier section of
the Introductory Statement.

 

“Class
LT-R Interest”: The residual interest in the Lower-Tier REMIC. The Class LT-R Interest will be represented by the Class R
Certificates.

 

“Class R
Certificate”: A Certificate executed and authenticated by the Certificate Administrator, in substantially the form set
forth in Exhibit A-7 hereto and designated as a Class R Certificate, which shall only be issued as Definitive Certificates.
The Class R Certificates will not have a Certificate Balance, Notional Amount or a Pass-Through Rate. The Class R Certificates
will evidence the Class LT-R and Class UT-R Interests.

 

“Class
UT-R Interest”: The residual interest in the Upper-Tier REMIC. The Class UT-R Interest will be represented by the Class R
Certificates.

 

“Class
X-A Certificate”: A Certificate executed and authenticated by the Certificate Administrator, in substantially the form
set forth in Exhibit A-2 and designated as a Class X-A Certificate.

 

    14

     

    

 

“Class
X-A Notional Amount”: An amount equal to Certificate Balance of the Class A Certificates.

 

“Class
X-A Pass-Through Rate”: A variable rate that for each Distribution Date shall be equal to the Class X Strip Rate for
the Class A Certificates for such Distribution Date.

 

“Class
X Strip Rate”: For the Class A Certificates for any
Distribution Date shall equal the excess, if any, of (i) the Net Trust Loan Rate for such Distribution Date over (ii) the Pass-Through
Rate for such Class of Certificates.

 

“Clearing
Agency”: An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange
Act. The initial Clearing Agency shall be The Depository Trust Company.

 

“Clearstream”:
As defined in Section 5.2(a).

 

“Closing
Date”: December 23, 2016.

 

“Code”:
The Internal Revenue Code of 1986, as amended, and as it may be further amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury regulations issued pursuant thereto in temporary or final form and any proposed
regulations thereunder, to the extent that, by reason of their proposed effective date, such proposed regulations would apply
to the Trust Fund.

 

“Collateral”:
The Property securing the Whole Loan, the Reserve Accounts (and all sums held, deposited or invested therein and all proceeds
thereof) with respect to the Whole Loan and all other collateral which is subject to security interests and liens granted to secure
the Whole Loan.

 

“Collateral
Security Documents”: Any document or instrument given to secure or guaranty the Whole Loan, including without limitation,
the Mortgage, each as amended, supplemented, assigned, extended or otherwise modified from time to time.

 

“Collection
Account”: As defined in Section 3.4(a).

 

“Collection
Period”: With respect to any Distribution Date, the period commencing immediately following the Determination Date in
the calendar month preceding the calendar month in which such Distribution Date occurs and ending on and including the Determination
Date in the calendar month in which such Distribution Date occurs; provided, that the first Collection Period will commence
immediately following the Cut-off Date and end on and include the Determination Date in January 2017.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion
Loan”: As defined in the Introductory Statement.

 

“Companion
Loan Notes”:  As defined in the Introductory Statement.

 

    15

     

    

 

“Companion
Loan Advance”: With respect to a Companion Loan that is part of an Other Securitization Trust, any advance of delinquent
scheduled payments with respect to such Companion Loan made by the master servicer or trustee with respect to such Other Securitization
Trust.

 

“Companion
Loan Holder”: The holder of a Companion Loan.

 

“Companion
Loan Rating Agency”: With respect to a Companion Loan, any rating agency that was engaged by a participant in the securitization
of such Companion Loan to assign a rating to the related Companion Loan Securities.

 

“Companion
Loan Rating Agency Confirmation”: With respect to any matter involving the servicing and administration of a Companion
Loan as to which any Companion Loan Securities exist, confirmation in writing (which may be in electronic form) by each applicable
Companion Loan Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result
in the downgrade, withdrawal or qualification of the then current rating assigned to any class of such Companion Loan Securities
(if then rated by such Companion Loan Rating Agency); provided that upon receipt of a written waiver or other acknowledgment from
a Companion Loan Rating Agency indicating its decision not to review or declining to review the matter for which the Companion
Loan Rating Agency Confirmation is sought (such written notice, a “Companion Loan Rating Agency Declination”),
or as otherwise provided in Section 3.26 of this Agreement, the requirement for the Companion Loan Rating Agency Confirmation
from the applicable Companion Loan Rating Agency with respect to such matter shall not apply.

 

“Companion
Loan Securities”: Any commercial mortgage-backed securities that evidence an interest in or are secured by the assets
of an Other Securitization Trust, which assets include a Companion Loan (or a portion thereof or interest therein).

 

“Condemnation”:
As defined in the Loan Agreement.

 

“Condemnation
Proceeds”: The portion of the Loss Proceeds relating to a Condemnation other than amounts to be applied to the restoration,
preservation or repair of the Property or to be released to the Loan Borrower each in accordance with the terms of the Loan Agreement,
or if not required to be so applied or so released under the terms of the Loan Agreement, Accepted Servicing Practices.

 

“Confidential
Information”: With respect to the Servicer, the Special Servicer, the Certificate Administrator and the Trustee, all
material non-public information obtained in the course of and as a result of such Person’s performance of its duties under
the Trust and Servicing Agreement as the Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable,
with respect to the Whole Loan, the Loan Borrower, the Sponsor and the Property, unless such information (i) was already
in the possession of such Person prior to being disclosed to such Person, (ii) is or becomes available to such Person from
a source other than its activities as the Servicer or the Special Servicer, as applicable, or (iii) is or becomes generally
available to the public other than as a result of a disclosure by Servicer Servicing Personnel, Special Servicer Servicing Personnel
or Trustee Personnel, as applicable.

 

    16

     

    

 

“Consultation
Termination Event”: The event that occurs when (i) the Class E Certificates has a Certificate Balance (without the regard
of any Appraisal Reduction Amounts allocable to such Class in accordance Section 3.7(a)) less than 25% of the initial Certificate
Balance of such Class, (ii) deemed to occur pursuant to Section 6.5(c)
of this Agreement or (iii) the Controlling Class Representative or a majority of the Controlling Class Certificateholders (by
Certificate Balance) is a Borrower Related Party.

 

“Controlling
Class”: As of any time of determination, the Class E Certificates until the occurrence of a Consultation Termination
Event. No other Class of Certificates will be eligible to act as the Controlling Class or appoint a Controlling Class Representative.

 

“Controlling
Persons”: As defined in Section 6.3(a).

 

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

 

“Controlling
Class Representative”: The Controlling Class Certificateholder (or other representative) selected by at least a majority
of the Controlling Class Certificateholders by Certificate Balance, as identified by notice to the Certificate Registrar by the
applicable Controlling Class Certificateholders from time to time, with notice of such selection delivered to the Special Servicer,
the Servicer, the Trustee and the Certificate Administrator; provided that (i) absent such selection, or (ii) until a Controlling
Class Representative is so selected, or (iii) upon receipt of notice from the Controlling Class Certificateholders that own Certificates
representing more than 50% of the Certificate Balance of the Controlling Class that a Controlling Class Representative is no longer
so designated, the Controlling Class Representative shall be the Controlling Class Certificateholder that owns Certificates representing
the largest aggregate Certificate Balance of the Controlling Class as identified to the Certificate Administrator.

 

The
initial Controlling Class Representative on the Closing Date shall be a Person determined by BlackRock Financial Management, Inc.,
and the Certificate Registrar and the other parties to this Agreement shall be entitled to assume that Person or any successor
Controlling Class Representative selected thereby is the Controlling Class Representative on behalf of funds/accounts managed
by BlackRock Financial Management, Inc. or one of its affiliates as Holder (or Beneficial Owner) of a majority of the Class E
Certificates, until the Certificate Registrar receives (a) written notice of a replacement Controlling Class Representative or
(b) written notice that funds/accounts managed by BlackRock Financial Management, Inc. or one of its affiliates is no longer the
Holder (or Beneficial Owner) of a majority of the Class E Certificates.

 

“Control
Termination Event”: The event that occurs when (i) the Class E Certificates has a Certificate Balance (as
notionally reduced by any Appraisal Reduction Amounts allocable to such Class in accordance with Section 3.7(a)
of this Agreement) less than 25% of the initial Certificate Balance of such Class, (ii) deemed to occur pursuant to Section 6.5(c) of
this Agreement or (iii) the Controlling Class Representative or a majority of the Controlling Class Certificateholders (by
Certificate Balance) is a Borrower Related Party.

 

    17

     

    

 

“Corporate
Trust Office”: The corporate trust office of the Trustee or the Certificate Administrator, as applicable, at which
at any particular time its corporate trust business shall be administered, which office at the date of the execution of this Agreement
is located at (i) in the case of the Trustee, 9062 Old Annapolis Road, Columbia, Maryland 21045, Attention: Corporate Trust Services,
Attention: VNDO 2016-350P, (ii) in the case of the Certificate Administrator, 9062 Old Annapolis Road, Columbia, Maryland
21045, or for certificate transfer services, Wells Fargo Center, 600 South 4th Street, 7th Floor, MAC: N9300-070, Minneapolis,
Minnesota 55479-0113, Attention: VNDO 2016-350P, or (iii) at such other address as the Trustee or the Certificate Administrator
may designate from time to time by notice to the Certificateholders, the Depositor, the Servicer and the Special Servicer.

 

“CREFC®”:
CRE Finance Council, formerly known as Commercial Mortgage Securities Association, or any successor thereto.

 

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

 

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

 

“CREFC®
Bond Level File”: The monthly report substantially
in the form of, and containing the information called for in, the downloadable form of the “Bond Level File” available
as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information as may from time to time be recommended by the CREFC® for commercial mortgage securities
transactions generally and is reasonably acceptable to the Certificate Administrator.

 

“CREFC®
Collateral Summary File”: The report substantially
in the form of, and containing the information called for in, the downloadable form of the “Collateral Summary File”
available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information
and containing such additional information as may from time to time be recommended by the CREFC® for commercial
mortgage securities transactions generally and is reasonably acceptable to the Certificate Administrator.

 

“CREFC®
Comparative Financial Status Report”: A report
substantially in the form of, and containing the information called for in, the downloadable form of the “Comparative Financial
Status Report” available as of the Closing Date on the CREFC®

 

    18

     

    

 

 Website, or such other form for the presentation
of such information as may from time to time be recommended by the CREFC® for commercial mortgage securities transactions
generally and is reasonably acceptable to the Servicer and the Special Servicer.

 

“CREFC®
Delinquent Loan Status Report”: A report substantially
in the form of, and containing the information called for in, the downloadable form of the “Delinquent Loan Status Report”
available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information
and containing such additional information as may from time to time be recommended by the CREFC® for commercial
mortgage securities transactions generally and is reasonably acceptable to the Servicer and the Special Servicer.

 

“CREFC®
Financial File”: A report substantially in the
form of, and containing the information called for in, the downloadable form of the “Financial File” available as
of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information as may from time to time be recommended by the CREFC® for commercial mortgage securities
transactions generally and is reasonably acceptable to the Servicer.

 

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

 

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

 

“CREFC®
Historical Loan Modification, Forbearance and Corrected Loan Report”:
A report substantially in the form of, and containing the information called for in, the downloadable form of the “Historical
Loan Modification, Forbearance and Corrected Loan Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer and the Special Servicer.

 

“CREFC®
Intellectual Property Royalty License Fee”: A fee payable monthly to the CREFC® pursuant to Section 3.4(c)
which will accrue at the CREFC® Intellectual Property Royalty License Fee Rate, computed on the basis of the
same principal amount, in the same manner, and for the same Loan Interest Accrual Period respecting which any related interest
payment on the Trust Loan is computed, and will be prorated for partial periods.

 

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“CREFC®
Intellectual Property Royalty License Fee Rate”: With respect to the Trust Loan, 0.0005% per annum.

 

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

 

“CREFC®
Loan Level Reserve LOC Report”: The monthly report
substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Level Reserve
LOC Report” available as of the Closing Date on the CREFC® Website, or such other form for the presentation
of such information and containing such additional information as may from time to time be recommended by the CREFC®
for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer.

 

“CREFC®
Loan Modification Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Modification Report” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from
time to time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably
acceptable to the Servicer and the Special Servicer.

 

“CREFC®
Loan Periodic Update File”: The monthly report
substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Periodic
Update File” available as of the Closing Date on the CREFC® Website, or such other form for the presentation
of such information and containing such additional information as may from time to time be recommended by the CREFC®
for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer, the Special Servicer
and the Certificate Administrator.

 

“CREFC®
Loan Setup File”: The report substantially in
the form of, and containing the information called for in, the downloadable form of the “Loan Setup File” available
as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information as may from time to time be recommended by the CREFC® for commercial mortgage securities
transactions generally and is reasonably acceptable to the Servicer, the Special Servicer and the Certificate Administrator.

 

“CREFC®
NOI Adjustment Worksheet”: A report substantially
in the form of, and containing the information called for in, the downloadable form of the “NOI Adjustment Worksheet”
available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information
and containing such additional information as may from time to time be recommended by the CREFC® for commercial
mortgage securities transactions generally and is acceptable to the Servicer or the Special Servicer, as applicable, and in any
event, shall present the computations made in accordance with the methodology described in such form to

 

    20

     

    

 

“normalize”
the full year net operating income and debt service coverage numbers used in the other reports required by this Agreement.

 

“CREFC®
Operating Statement Analysis Report”: A report
prepared with respect to the Property substantially in the form of, and containing the information called for in, the downloadable
form of the “Operating Statement Analysis Report” available as of the Closing Date on the CREFC® Website
or in such other form for the presentation of such information and containing such additional information as may from time to
time be recommended by the CREFC® for commercial mortgage securities transactions generally and is reasonably acceptable
to the Servicer.

 

“CREFC®
Property File”: A report substantially in the
form of, and containing the information called for in, the downloadable form of the “Property File” available as of
the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing
such additional information as may from time to time be recommended by the CREFC® for commercial mortgage securities
transactions generally and is reasonably acceptable to the Servicer and the Special Servicer.

 

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

 

“CREFC®
Reports”: Collectively refers to the following
files and reports as may be amended, updated or supplemented from time to time as part of the CREFC® Investor Reporting
Package (IRP):

 

(i)        the
following seven electronic files (and any other files as may become adopted and promulgated by CREFC® as part of
the CREFC® Investor Reporting Package (IRP) from time to time): (i) CREFC®
Bond Level File, (ii) CREFC® Collateral Summary File, (iii) CREFC® Property File,
(iv) CREFC® Loan Periodic Update File, (v) CREFC® Loan Setup File, (vi) CREFC®
Financial File, and (vii) CREFC® Special Servicer Loan File; and

 

(ii)       the
following 18 supplemental reports (and any other reports as may become adopted and promulgated by CREFC® as part
of the CREFC® Investor Reporting Package (IRP) from time to time): (i) CREFC®
Comparative Financial Status Report, (ii) CREFC® Delinquent Loan Status Report, (iii) CREFC®
Historical Loan Modification and Corrected Loan Report, (iv) CREFC® Operating Statement Analysis Report,
(v) CREFC® NOI Adjustment Worksheet, (vi) CREFC® REO Status Report, (vii) CREFC®
Servicer Watch List, (viii) CREFC® Loan Level Reserve – LOC Report, (ix) CREFC®
Advance Recovery Report, (x) CREFC® Total Loan Report, (xi) CREFC® Appraisal Reduction Template,
(xii) CREFC® Servicer Realized Loss Template, (xiii) CREFC® Reconciliation of Funds Template, (xiv)
CREFC® Historical Bond/Collateral Realized Loss Reconciliation Template, (xv) CREFC® Historical
Liquidation Loss

 

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Template, (xvi) CREFC® Interest Shortfall Reconciliation Template, (xvii) CREFC®
Loan Liquidation Report, and (xviii) CREFC® Loan Modification Report, as such reports may be amended, updated or
supplemented from time to time.

 

“CREFC®
REO Status Report”: A report substantially in
the form of, and containing the information called for in, the downloadable form of the “REO Status Report” available
as of the Closing Date on the CREFC® Website, or in such other form for the presentation of such information and
containing such additional information as may from time to time be recommended by the CREFC® for commercial mortgage
securities transactions generally and is reasonably acceptable to the Servicer.

 

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

 

“CREFC®
Servicer Watch List”: For any Determination Date,
a report substantially in the form of, and containing the information called for in, the downloadable form of the “Servicer
Watch List” available as of the Closing Date on the CREFC® Website, or in such other final form for the presentation
of such information and containing such additional information as may from time to time be promulgated as recommended by the CREFC®
for commercial mortgage securities transactions generally and, insofar as it requires the presentation of information in
addition to that called for by the form of the “Servicer Watch List” available as of the Closing Date on the CREFC®
Website, is reasonably acceptable to the Servicer.

 

“CREFC®
Special Servicer Loan File”: The monthly report
substantially in the form of, and containing the information called for in, the downloadable form of the “Special Servicer
Loan File” available as of the Closing Date on the CREFC® Website, or such other form for the presentation
of such information and containing such additional information as may from time to time be recommended by the CREFC®
for commercial mortgage securities transactions generally and is reasonably acceptable to the Servicer and the Special Servicer.

 

“CREFC®
Total Loan Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Total Loan Report” available as of the Closing Date on the CREFC® Website,
or in such other form for the presentation of such information and containing such additional information as may from time to
time be adopted by the CREFC® for commercial mortgage-backed securities transactions and is reasonably acceptable
to the Servicer.

 

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

 

“Current
Interest Distribution Amount”: With respect to any Distribution Date, (x) for any Class of Regular Certificates, the
interest accruing during the related applicable Interest Accrual Period at the applicable Pass-Through Rate for such Distribution
Date on the outstanding Certificate Balance (or Notional Amount) of such Class as of the prior Distribution Date (after giving
effect to distributions of principal and allocations of Realized Losses on such prior Distribution Date) and (y) any Uncertificated
Lower-Tier Interest, interest accruing during

 

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the applicable Certificate Interest Accrual Period at the applicable Pass-Through
Rate for such Certificate Interest Accrual Period on the then outstanding Lower-Tier Principal Amount of such Class as of the
prior Distribution Date (after giving effect to distributions of principal and allocations of Realized Losses on such prior Distribution
Date).

 

“Cut-off
Date”: December 6, 2016.

 

“DBNY”:
Deutsche Bank AG, New York Branch, and its successors-in-interest.

 

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

 

“Default
Interest”: The amount by which interest accrued on the Notes at their respective Default Rates exceeds the amount of
interest that would have accrued on the Notes at their respective Note Rates.

 

“Default
Rate”: As defined in the Loan Agreement.

 

“Defaulted
Mortgage Loan”: The Whole Loan (i) if it is delinquent at least 60 days in respect of its scheduled monthly payments
or delinquent in respect of its balloon payment, if any, in either case such delinquency to be determined without giving effect
to any grace period permitted by the related Loan Documents and without regard to any acceleration of payments under the Loan
Documents or (ii) as to which the Servicer or Special Servicer has, by written notice to the related borrower, accelerated the
maturity of the indebtedness evidenced by the related Notes.

 

“Defect”:
As defined in Section 2.8(a).

 

“Definitive
Certificate”: Any Certificate in fully registered certificated form without interest coupons.

 

“Delivery
Date”: As defined in Section 2.1(b).

 

“Depositor”:
GS Mortgage Securities Corporation II, a Delaware corporation, and its successors in interest.

 

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

 

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

 

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“Determination
Date”: The sixth (6th) day of each calendar month in which each Distribution Date occurs, commencing in January
2017 or, if such 6th day is not a Business Day, the immediately succeeding Business Day.

 

“Directly
Operate”: With respect to any Foreclosed Property, the furnishing or rendering of services to the tenants thereof, that
are not customarily provided to tenants in connection with the rental of space “for occupancy only” within the meaning
of Treasury Regulations Section 1.512(b)-1(c)(5), the management or operation of such Foreclosed Property, the holding of
such Foreclosed Property primarily for sale to customers, the use of such Foreclosed Property in a trade or business conducted
by the Trust Fund or the performance of any construction work on the Foreclosed Property, other than through an Independent Contractor;
provided, however, that Foreclosed Property shall not be considered to be Directly Operated solely because the Trustee
(or the Special Servicer on behalf of the Trustee) establishes rental terms, chooses tenants, enters into or renews leases, deals
with taxes and insurance or makes decisions as to repairs or capital expenditures with respect to such Foreclosed Property or
takes other actions consistent with Treasury Regulations Section 1.856-4(b)(5)(ii).

 

“Disclosable
Special Servicer Fees”: With respect to the Whole Loan or the Foreclosed Property, any (A) compensation and other
remuneration (including, without limitation, in the form of commissions, brokerage fees, rebates, and as a result of any other
fee-sharing arrangement received or retained by the Special Servicer or any of its Affiliates that is paid by any person (including,
without limitation, the Trust, the Loan Borrower, any manager of the Property, any guarantor or indemnitor in respect of the Whole
Loan or Foreclosed Property and any purchaser of the Whole Loan, the Trust Loan or the Foreclosed Property)) in connection with
the disposition, workout or foreclosure of the Whole Loan, the management or disposition of the Foreclosed Property, and the performance
by the Special Servicer or any such Affiliate of any other special servicing duties under this Agreement other than (i) Permitted
Special Servicer/Affiliate Fees and (ii) any special servicing compensation to which the Special Servicer is entitled under
this Agreement in the form of late payment charges, Default Interest, assumption fees, Modification Fees, consent fees, loan service
transaction fees, beneficiary statement fees, assumption application fees or other income earned on deposits in the Foreclosed
Property Account to the extent not reported in the CREFC®
Reports and (B) any fee-sharing arrangement with any Certificateholder or other controlling interest with respect to
any special servicing duties under this Agreement; provided that any compensation and other remuneration that the Servicer
or Certificate Administrator is specifically permitted to receive pursuant to the terms of this Agreement in connection with its
respective capacity as a Servicer or Certificate Administrator shall not be Disclosable Special Servicer Fees.

 

“Disqualified
Non-U.S. Person”: With respect to a Class R Certificate, any Non-U.S. Person or agent thereof other than (i) a
Non-U.S. Person that holds such Class R Certificate in connection with the conduct of a trade or business within the United
States and has furnished the transferor and the Certificate Administrator with an effective IRS Form W-8ECI or other prescribed
form or (ii) a Non-U.S. Person that has delivered to both the transferor and the Certificate Administrator an Opinion of
Counsel of a nationally recognized tax counsel to the effect that the transfer of such Class R Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated thereunder and that such transfer of such Class R

 

    24

     

    

 

Certificate
will not be disregarded for federal income tax purposes under Treasury Regulations Section 1.860G-3.

 

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

 

“Distribution
Account”: The account established and maintained by the Certificate Administrator pursuant to Section 3.5.

 

“Distribution
Date”: The 4th Business Day after each Determination Date, commencing in January 2017.

 

“Distribution
Date Statement”: As defined in Section 4.4(a).

 

“Due
Diligence Service Provider”: As defined in Section 3.21(b).

 

“Eligible
Account”: A separate and identifiable account from all other funds held by the holding institution that is either (a) an
account or accounts maintained with a federal or state-chartered depository institution or trust company which complies with the
definition of Eligible Institution, (b) a segregated trust account or accounts maintained with a federal or state chartered
depository institution or trust company acting in its fiduciary capacity the long-term unsecured debt obligations of which are
rated at least (i) “BBB” by S&P and (ii) “A2” by Moody’s, which, in the case of a state chartered
depository institution or trust company, is subject to regulations substantially similar to 12 C.F.R. §9.10(b), having in
either case a combined capital and surplus of at least $50,000,000.00 and subject to supervision or examination by federal or
state authority, as applicable or (c) such other account or accounts not listed in clauses (a) or (b) above with respect to which
a Rating Agency Confirmation has been obtained from each Rating Agency. An Eligible Account will not be evidenced by a certificate
of deposit, passbook or other instrument.

 

“Eligible
Institution”: (a) A depository institution or trust company insured by the Federal Deposit Insurance Corporation, the
short term unsecured debt obligations or commercial paper of which are rated at least (i) “A-2” by S&P and (ii)
“P-1” by Moody’s and the long-term unsecured debt obligations of which are rated at least (i) “BBB”
by S&P and (ii) “A2” by Moody’s; (b) PNC Bank, National Association, provided that the ratings by the Rating
Agencies

 

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for the short-term unsecured debt obligations, short-term deposit accounts or commercial paper and long term unsecured
debt obligations or long term deposit accounts do not decrease below the ratings set forth in clause (a) above; or (c) Wells Fargo
Bank, National Association; provided that the ratings by the Rating Agencies for the short-term unsecured debt obligations
or commercial paper and long term unsecured debt obligations do not decrease below the ratings set forth in clause (a) above.

 

“Environmental
Indemnity”: As defined in the Loan Agreement.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated thereunder.

 

“Euroclear”:
As defined in Section 5.2(a).

 

“Excess
Servicing Fees”: With respect to the Whole Loan (and any successor Foreclosed Property with respect thereto), that portion
of the Servicing Fees that accrue at a per annum rate equal to the Excess Servicing Fee Rate, as such rate may be reduced
from time to time following a resignation of a Servicer pursuant to Section 6.6 or Section 7.1, as applicable.

 

“Excess
Servicing Fee Rate”: The Servicing Fee Rate minus 0.00125% per annum; provided that such rate shall be subject
to reduction at any time following any resignation of a Servicer pursuant to Section 6.6 (if no successor is appointed
in accordance with Section 6.6) or any termination of a Servicer pursuant to Section 7.1, to the extent
reasonably necessary (in the sole discretion of the Trustee) for the Trustee to appoint a qualified successor servicer (which
successor may include the Trustee) that meets the requirements of Section 7.2.

 

“Excess
Servicing Fee Right”: With respect to the Whole Loan
(and any successor Foreclosed Property with respect thereto), the right to receive Excess Servicing Fees. In the absence of any
transfer of the Excess Servicing Fee Right, the Servicer shall be the owner of such Excess Servicing Fee Right.

 

“Exchange
Act”: The Securities Exchange Act of 1934, as amended from time to time.

 

“FHLMC”:
The Federal Home Loan Mortgage Corporation and its successors in interest.

 

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

 

“FNMA”:
The Federal National Mortgage Association and its successors in interest.

 

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“Foreclosed
Property”: Any portion of the Property, title to which has been acquired by the Special Servicer on behalf of the Trust
and the Companion Loan Holders through foreclosure, deed-in-lieu of foreclosure or otherwise in the name of the Trustee or its
nominee.

 

“Foreclosed
Property Account”: As defined in Section 3.6.

 

“Foreclosure”:
Any foreclosure, the taking of a deed-in-lieu of foreclosure, or the completion of any judicial or non-judicial foreclosure or
termination, cancellation or rescission of any such foreclosure of the Mortgage.

 

“Foreclosure
Proceeds”: Proceeds, net of any related expenses of the Servicer, Special Servicer, the Certificate Administrator and/or
the Trustee, received in respect of the Foreclosed Property(including, without limitation, proceeds from the operation or rental
of such Foreclosed Property) prior to the final liquidation of the Foreclosed Property.

 

“Form
ABS Due Diligence-15E”: The form certification of a Due Diligence Service Provider prescribed by Section 15E(s)(4)(B)
of the Exchange Act and Rule 17g-10 thereunder.

 

“Form
8-K Disclosure”: The information described in the Form 8-K items set forth under the “Item on Form 8-K”
column on Exhibit T hereto.

 

“Global
Certificates”: As defined in Section 5.2(b).

 

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

 

“Independent
Appraiser”: An Independent professional real estate appraiser who (i) is a member in good standing of the Appraisal
Institute, (ii) if the state in which the subject Property or Foreclosed Property is located certifies or licenses appraisers,
is certified or licensed in such state, and (iii) has a minimum of five (5) years’ experience in the appraisal
of comparable properties in the geographic area in which the subject Property is located.

 

“Independent
Contractor”: Either (i) any Person (other than the Special Servicer or Servicer) that would be an “independent
contractor” with respect to the Lower-Tier REMIC or the Upper-Tier REMIC within the meaning of Section 856(d)(3) of
the Code if such REMIC were a real estate investment trust (except that the ownership test set forth in that Section of the Code
shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any Class of Certificates or 35%
or more of the aggregate value of all Classes of Certificates or such other interest in the Certificates as is set forth in an
Opinion of Counsel, which shall, at

 

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no expense to the Trustee, the Certificate Administrator, the Special Servicer, the Servicer,
or the Trust Fund, be delivered to the Trustee, the Certificate Administrator, the Special Servicer or the Servicer on behalf
of the Trustee); provided that neither the Lower-Tier REMIC nor the Upper-Tier REMIC receives or derives any income from
such Person and the relationship between such Person and such REMIC is at arm’s length, all within the meaning of Treasury
Regulations Section 1.856-4(b)(5), or (ii) any other Person (including the Special Servicer or the Servicer) if the
Trustee and the Certificate Administrator (or the Servicer or the Special Servicer on behalf of the Trustee) has received an Opinion
of Counsel which shall, at no expense to the Trustee, the Certificate Administrator, the Special Servicer, the Servicer (unless
the Special Servicer or the Servicer is providing the Opinion of Counsel with respect to itself) or the Trust Fund, be to the
effect that the taking of any action in respect of any Foreclosed Property by such Person, subject to any conditions therein specified,
that is otherwise herein contemplated to be taken by an Independent Contractor will not cause such Foreclosed Property to cease
to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined without
regard to the exception applicable for purposes of Section 860D(a) of the Code), or cause any income realized in respect
of such Foreclosed Property to fail to qualify as Rents from Real Property.

 

“Initial
Purchasers”: Goldman, Sachs & Co. and Deutsche Bank Securities Inc., and their respective successors in interest.

 

“Inquiries”:
As defined in Section 4.5.

 

“Institutional
Accredited Investor”: An institution that is an “accredited investor” within the meaning of Rule 501(a) (1),
(2), (3) or (7) of Regulation D under the Securities Act and any entity in which all of the equity owners are “accredited
investors” within the meaning of Rule 501(a) (1), (2), (3) or (7) of Regulation D under the Securities Act.

 

“Insurance
Proceeds”: (a) The portion of Loss Proceeds paid as a result of a Casualty (as defined in the Loan Agreement) other
than amounts to be applied to the restoration, preservation or repair of the Property or to be released to the Loan Borrower each
in accordance with the terms of the Loan Agreement, or if not required to be so applied or so released under the terms of the
Loan Agreement, Accepted Servicing Practices and (b) amounts paid by any insurer pursuant to any insurance policy required
to be maintained by the Servicer pursuant to Section 3.11, to the extent related to this Agreement only.

 

“Interest
Accrual Period”: (a) With respect to the Whole Loan for any Loan Payment Date, the period from and including the 6th
day of the calendar month preceding the month in which such Loan Payment Date occurs through and including the 5th day of the
calendar month in which such Loan Payment Date occurs and (b) with respect to the Certificates for any Distribution Date, the
calendar month preceding the calendar month in which such Distribution Date occurs.

 

“Interest
Distribution Amount”: With respect to any Distribution Date for any Class of Regular Certificates or Uncertificated
Lower-Tier Interests, the sum of the Current Interest Distribution Amount for such Distribution Date and such Class of Certificates
or

 

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Uncertificated Lower-Tier Interests plus the aggregate unpaid Interest Shortfalls in respect of prior Distribution Dates for
such Class of Certificates or Uncertificated Lower-Tier Interests.

 

“Interest
Reserve Account”: As defined in Section 3.4(d).

 

“Interest
Shortfall”: With respect to any Distribution Date for any Class of Regular Certificates or Uncertificated Lower-Tier
Interests, the amount by which the Current Interest Distribution Amount for such Class of Certificates and Distribution Date exceeds
the portion actually paid in respect of such Class on such Distribution Date.

 

“Interested
Person”: The Depositor, the Servicer, the Special Servicer, the Certificate Administrator, a holder of 50% or more of
the Controlling Class, the Controlling Class Representative, the Loan Borrower, any Companion Loan Holder, an Other Depositor,
any trustee for an Other Securitization, the Sponsor, any manager of the Property, a mezzanine lender, any independent contractor
engaged by the Special Servicer, or any of their respective Affiliates.

 

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

 

“Investment
Account”: As defined in Section 3.8(a).

 

“Investment
Decisions”: Investment, trading, lending or other financial decisions, strategies or recommendations with respect to
Investments, whether on behalf of the Servicer, the Special Servicer or any of their respective Affiliates, as applicable, or
any Person on whose behalf the Servicer, the Special Servicer or any of their respective Affiliates has discretion in connection
with Investments.

 

“Investor
Certification”: A certification representing that such Person executing the certificate is a Certificateholder, a Companion
Loan Holder, the Controlling Class Representative to the extent the Controlling Class Representative is not a Certificateholder
(and no Consultation Termination Event or Control Termination Event is in effect), a Beneficial Owner or a prospective purchaser
of a Certificate (or any investment advisor or manager of the foregoing) and that (i) for purposes of obtaining certain information
and notices pursuant to this Agreement (including access to information and notices on the Certificate Administrator’s Website),
(A) (1) such Person is not a Borrower Related Party, in which case such Person shall access to all the reports and information
made available to Privileged Persons pursuant to this Agreement or (2) such Person is a Borrower Related Party, in which case
such Person shall only be entitled to receive access to the Distribution Date Statements posted on the Certificate Administrator’s
Website, and (B) except in the case of a prospective purchaser of a Certificate, such Person has received a copy of the final
Offering Circular, in the form of Exhibit K-1 or Exhibit K-2, as applicable, to this Agreement or in the form
of an electronic certification contained on the Certificate Administrator’s Website, and/or (ii) for purposes of exercising
Voting Rights (which shall not apply to a prospective purchaser of a Certificate), (A) such Person is not a Borrower Related
Party, (B) such Person is or is not the Depositor, the Servicer,

 

    29

     

    

 

the Special Servicer, the Certificate Administrator, the Trustee
or an Affiliate of any of the foregoing, (C) such Person has received a copy of the final Offering Circular and (D) such person
agrees to keep any Privileged Information confidential and will not violate any securities laws, substantially in the form of
Exhibit K-3 to this Agreement; provided that if such Person is an Affiliate of the Depositor, the Servicer, the
Special Servicer, the Trustee or the Certificate Administrator, such Person certifies to the existence or non-existence of appropriate
policies and procedures restricting the flow of information between it and the Depositor, the Servicer, the Special Servicer,
the Trustee or the Certificate Administrator, as applicable; provided, further, that a repurchasing Loan Seller
shall be entitled to receive any and all reports and have access to any and all information that a Certificateholder would otherwise
have under the terms of this Agreement. The Certificate Administrator may require that Investor Certifications be resubmitted
from time to time in accordance with its policies and procedures.

 

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

 

“Liquidated
Property”: The Property, if it has been liquidated and the Special Servicer has determined that all amounts which it
expects to recover from or on account of the Property have been recovered.

 

“Liquidation
Expenses”: Reasonable and customary expenses (other than expenses covered by any insurance policy) incurred by the Servicer,
the Special Servicer, the Certificate Administrator or the Trustee in connection with the liquidation of the Whole Loan or Property
(or portions thereof), such expenses including, without limitation, legal fees and expenses, appraisal fees, brokerage fees and
commissions, conveyance taxes and trustee and co-trustee fees, if any. Liquidation Expenses shall not include any previously incurred
expenses which have been previously reimbursed to the party incurring the same or which were netted against income from the Foreclosed
Property and were considered in the calculation of the amount of Foreclosure Proceeds pursuant to the definition thereof.

 

“Liquidation
Fee”: A fee payable to the Special Servicer with respect to the Liquidated Property, or any full, partial or discounted
payoff of the Whole Loan, Trust Loan or Companion Loan or the liquidation of the Whole Loan, Trust Loan, Companion Loan or the
Notes as to which the Special Servicer receives any Liquidation Proceeds, equal to the product of the Liquidation Fee Rate and
the Net Liquidation Proceeds related to such Liquidated Property, Whole Loan, Trust Loan, Companion Loan or Notes. The Special
Servicer shall not be entitled to receive a Liquidation Fee in connection with (i) a
repurchase of the Trust Loan (or any Loan Seller’s Loan Seller Percentage Interest thereof) by the Loan Sellers pursuant
to the Loan Purchase Agreement, (ii) a sale of the Whole Loan or any portion thereof by the Special Servicer to an Interested
Person in accordance with Section 3.16 or (iii) a purchase of the Trust Loan or a Foreclosed Property by the Controlling
Class Representative or any Affiliate thereof, if such purchase occurs within 90 days after the date on which the Special Servicer
first delivers to the Controlling Class Representative notice of a Loan Event of Default. For the avoidance of doubt,

 

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the intent
of Section 10.21 of the Loan Agreement requires the Loan Borrower to be responsible for the payment of Liquidation Fees and
the Special Servicer will be entitled to, and may collect, any Liquidation Fees payable to it from the Loan Borrower pursuant
to such Section 10.21 of the Loan Agreement as would be calculated hereunder. The Liquidation Fee with respect to the Specially
Serviced Loan or Foreclosed Property shall be reduced by the amount of any Modification Fees paid by or on behalf of the Loan
Borrower with respect to the Specially Serviced Loan or Foreclosed Property and received by the Special Servicer as compensation,
but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee. Notwithstanding
the foregoing, if the Whole Loan or Trust Loan becomes a Specially Serviced Loan solely due to an event described in clause (iii) of
the definition of “Special Servicing Loan Event” and the related Liquidation Proceeds are received within 2 months
following the Stated Maturity Date as a result of the Whole Loan or Trust Loan being refinanced or receipt of other final payment
(other than a discounted pay-off), the Special Servicer shall not be entitled to deduct a Liquidation Fee from amounts due to
the Certificateholders but may collect and retain appropriate fees from the Loan Borrower in connection with such liquidation.

 

“Liquidation
Fee Rate”: A rate equal to 0.40%.

 

“Liquidation
Proceeds”: Amounts (other than Insurance Proceeds and Condemnation Proceeds) received by the Special Servicer and/or
Certificate Administrator in connection with the liquidation of the Whole Loan, the Trust Loan, any Companion Loan or the Property,
whether through judicial foreclosure, sale or otherwise, or in connection with the sale, discounted payoff or other liquidation
of the Whole Loan, the Trust Loan, any Companion Loan (other than amounts required to be paid to the Loan Borrower pursuant to
law or the terms of the Loan Agreement) including the proceeds of any full, partial or discounted payoff of the Whole Loan, the
Trust Loan or any Companion Loan (exclusive of any portion of such payoff or proceeds that represents Default Interest or late
payment charges).

 

“Loan
Agreement”: As defined in the Introductory Statement.

 

“Loan
Borrower”: As defined in the Introductory Statement.

 

“Loan
Borrower Reimbursable Trust Fund Expenses”: All costs, expenses and fees of the Trust, the Servicer, the Special Servicer,
the Certificate Administrator or the Trustee resulting from defaults or the occurrence of a Special Servicing Loan Event pursuant
to this Agreement (including enforcement expenses and any Liquidation Fees, Workout Fees, Special Servicing Fees, or any other
similar fees and interest payable on advances made by the Servicer, the Special Servicer, the Certificate Administrator or the
Trustee with respect to delinquent debt service payments or expenses of curing the Loan Borrower’s defaults under the Loan
Documents, and any expenses paid by the Servicer, the Special Servicer, the Certificate Administrator or the Trustee in respect
of the protection and preservation of the Property, such as payment of taxes and insurance premiums); and the reasonable out-of-pocket
costs of all property inspections and/or appraisals (or any updates to any existing inspection or appraisal) that the Servicer
or the Special Servicer may be required to obtain pursuant to this Agreement due to a default under the Whole Loan or the occurrence
of a Special Servicing Loan Event pursuant to this Agreement, in each case to the extent such costs, expenses and fees are

 

    31

     

    

 

reimbursable
by such Loan Borrower as provided for in the Loan Agreement, and any other costs, expenses and fees to be paid by the Loan Borrower
under the Loan Agreement.

 

“Loan
Documents”: All documents executed or delivered by the Loan Borrower or any other party evidencing or securing the Trust
Loan and any amendment thereof or thereafter or subsequently added to the Mortgage File, including without limitation the Loan
Agreement.

 

“Loan
Event of Default”: An Event of Default as defined under the Loan Documents.

 

“Loan
Lender”: Lender as defined in the Loan Agreement.

 

“Loan
Payment Date”: The 6th day of each calendar month in which the related Interest Accrual Period ends (or if such date
is not a Business Day (as such term is defined the Loan Agreement), the immediately preceding Business Day).

 

“Loan
Purchase Agreement”: The Mortgage Loan Purchase and Sale Agreement, dated as of December 6, 2016, by and between the
Loan Sellers and the Depositor.

 

“Loan
Seller”: As defined in the Introductory Statement.

 

“Loan
Seller Percentage Interest”: As to GSMC, a 60.0% interest in the Whole Loan and the Trust Loan, and as to GACC, a 40.0%
interest in the Whole Loan and the Trust Loan.

 

“Lock
Box Agreement”: The Clearing Account Agreement entered into on the Origination Date among the Loan Borrower, the Originators
and The Bank of New York Mellon.

 

“Lower-Tier
Distribution Account”: A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier
REMIC.

 

“Lower-Tier
Distribution Amount”: As defined in Section 4.1(b).

 

“Lower-Tier
Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interests, (i) on or prior to the first
Distribution Date, an amount equal to the Original Lower-Tier Principal Amount of such Class as specified in the Introductory
Statement to this Agreement, and (ii) as of any date of determination after the first Distribution Date an amount equal
to the Certificate Balance of the Class of Related Certificates on the preceding Distribution Date (after giving effect to distribution
of principal and allocation of Realized Losses).

 

“Lower-Tier
REMIC”: One of two separate REMICs comprising the Trust Fund, the assets of which consist of all of the assets of the
Trust Fund other than the assets of the Upper-Tier REMIC.

 

“MAI
Standards”: Standards of Professional Appraisal Practice established for Members of the Appraisal Institute.

 

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“Major
Decision”: Any of the following:

 

(i)        any
proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of Foreclosed Property) of the ownership
of the Property securing the Whole Loan as 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 Whole Loan or any extension of the Stated Maturity Date of the Whole Loan;

 

(iii)      any
sale of the Trust Loan (other than in connection with the termination of the Trust Fund) if it becomes a Defaulted Mortgage Loan
for less than the applicable Repurchase Price (excluding the amount described in clause (vi) of the definition of “Repurchase
Price);

 

(iv)      any
determination to bring the Property or the Foreclosed Property into compliance with applicable environmental laws or to otherwise
address hazardous materials located at the Foreclosed Property;

 

(v)       any
release of collateral or any acceptance of substitute or additional collateral for the Whole Loan, or any consent to either of
the foregoing, other than immaterial condemnation actions and other similar takings or if otherwise required pursuant to the specific
terms of the Whole 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 Whole Loan or, if lender
consent is required, any consent to such waiver or consent to a transfer of the Property or interests in the Loan Borrower or
consent to the incurrence of additional debt, other than any such transfer or incurrence of debt as may be effected without the
consent of the lender under the Loan Agreement or related to an immaterial easement, right of way or similar agreement;

 

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

 

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

 

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

 

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(x)       the
determination of the Servicer pursuant to clause (vii) or clause (viii) of the definition of “Special Servicing Loan Event”;

 

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

 

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

 

(xiii)    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 Property.

 

“Material
Breach”: As defined in Section 2.8(a).

 

“Material
Document Defect”: As defined in Section 2.8(a).

 

“Modification
Fees”:  With respect to the Whole Loan, any and all fees collected from the Loan Borrower with respect to a modification,
extension, waiver or amendment that modifies, extends, amends or waives any term of the Loan Documents agreed to by the Servicer
or the Special Servicer, other than (a) any assumption fees, defeasance fees, consent fees or assumption application fees
and (b) Special Servicing Fees, Workout Fees and Liquidation Fees.

 

“Monthly
Payment”: (i) With respect to the Whole Loan or Trust Loan and any Distribution Date, the scheduled payment of
principal (if any) and interest on the Whole Loan or Trust Loan pursuant to the Loan Agreement, including the Balloon Payment,
as applicable, in each case which is due and payable on the immediately preceding Loan Payment Date, and (ii) with respect
to any Note and any Distribution Date, the scheduled payment of principal (if any) and interest on such Note pursuant to the Loan
Agreement and the related Balloon Payment, in each case which is due and payable on the immediately preceding Loan Payment Date.

 

“Monthly
Payment Advance”: Any advance in respect of a delinquent Monthly Payment (or Assumed Monthly Payment, as applicable)
on the Trust Loan made by the Servicer or the Trustee pursuant to Section 3.23(a) or (c) as applicable. Each
reference to the reimbursement or payment of a Monthly Payment Advance shall be deemed to include, whether or not specifically
referred to, payment or reimbursement of interest thereon at the Advance Rate through the date of payment or reimbursement.

 

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

 

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

 

“Mortgage”:
As defined in the Loan Agreement.

 

“Mortgage
File”: As defined in Section 2.1(b), and any additional documents required to be added to the Mortgage File
pursuant to this Agreement.

 

“Net
Foreclosure Proceeds”: With respect to the Foreclosed Property, the Foreclosure Proceeds with respect to such Foreclosed
Property net of any insurance premiums, taxes, assessments, ground rents and other costs permitted to be paid therefrom pursuant
to Section 3.14.

 

“Net
Liquidation Proceeds”: The excess of Liquidation Proceeds received with respect to the Property or the Whole Loan, as
the case may be, over the amount of Liquidation Expenses incurred with respect thereto.

 

“Net
Trust Loan Rate”: With respect to any Distribution Date and the Trust Loan, the annualized rate at which interest would
have to accrue in respect of the Trust Loan on the basis of a 360-day year consisting of twelve 30-day months in the Interest
Accrual Period preceding the Loan Payment Date that precedes such Distribution Date in order to produce the aggregate amount of
interest (net of interest at the Servicing Fee Rate, the CREFC® Intellectual Property Royalty License Fee Rate
and the Certificate Administrator Fee Rate and exclusive of Default Interest) that actually accrues on the Trust Loan during such
Interest Accrual Period; provided, that any modification that changes the Trust Loan Rate shall be disregarded for purposes of
calculating the Pass-Through Rates for the corresponding Class(es) of Certificates; provided, further, that (i) the Net Trust
Loan Rate for the Interest Accrual Period preceding the Loan Payment Dates in (a) January and February in each year that is not
a leap year or (b) in February only in each year that is a leap year (unless in the case of either (a) or (b) the related Distribution
Date is the final Distribution Date), shall be the annualized rate at which interest would have to accrue on the basis of a 360-day
year consisting of twelve 30-day months in order to produce the aggregate amount of interest (net of interest at the Servicing
Fee Rate, the CREFC® Intellectual Property Royalty License Fee Rate and the Certificate Administrator Fee Rate
and exclusive of Default Interest) actually accrued on the Trust Loan during such Interest Accrual Period, minus the applicable
Withheld Amount and (ii) the Net Trust Loan Rate for the Interest Accrual Period preceding the Loan Payment Date in March (or
February, if the related Distribution Date is the final Distribution Date), shall be the annualized rate at which interest would
have to accrue on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest
(net of interest at the Servicing Fee Rate, the CREFC® Intellectual Property Royalty License Fee Rate and the Certificate
Administrator Fee Rate and exclusive of Default Interest) actually accrued on the Trust Loan during such Interest Accrual Period,
plus the applicable Withheld Amounts.

 

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“New
Lease”: Any lease with respect to the Foreclosed Property entered into at the direction of the Special Servicer on behalf
of the Trust, including any lease renewed, modified or extended on behalf of the Trust, if the Trust has the right to renegotiate
the terms of such lease.

 

“Nondisqualification
Opinion”: An Opinion of Counsel, prepared at the Trust Fund’s expense and payable from the Collection Account,
to the effect that a contemplated action will not result in an Adverse REMIC Event.

 

“Nonrecoverable
Advance”: Any Advance or portion of an Advance previously made and not previously reimbursed, or proposed to be made,
including interest on such Advance, which, the Servicer, the Special Servicer or the Trustee determines in accordance with Accepted
Servicing Practices (in the case of the Servicer or the Special Servicer) or reasonable business judgment (in the case of the
Trustee) would not be ultimately recoverable from subsequent payments or collections (including Foreclosure Proceeds, Liquidation
Proceeds, Condemnation Proceeds and Insurance Proceeds) in respect of the Trust Loan or Whole Loan, as applicable, or the Property
or from funds on deposit in the Collection Account pursuant to Section 3.4(c). The Trustee will be entitled to rely
conclusively on the Servicer’s determination that an Advance is a Nonrecoverable Advance, and the Servicer will be entitled
to rely conclusively on the Special Servicer’s determination that an Advance is a Nonrecoverable Advance.

 

“Non-Book
Entry Certificates”: As defined in Section 5.2(c).

 

“Non-Reduced
Certificates”: As of any date of determination, any Class of Sequential Pay Certificates then outstanding for which
(a) (1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) any payments
of principal (whether as principal prepayments or otherwise) previously distributed to the Certificateholders of such Class of
Certificates, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of the date of determination and
(z) any Realized Losses previously allocated to such Class of Certificates, is equal to or greater than (b) 25% of the remainder
of (i) the initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal
prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates.

 

“Non-U.S.
Beneficial Ownership Certification”: As defined in Section 5.3(f).

 

“Non-U.S.
Person”: A Person other than a U.S. Person.

 

“Note
A-1”: As defined in the Introductory Statement.

 

“Note
A-2”: As defined in the Introductory Statement.

 

“Note
A-3”: As defined in the Introductory Statement.

 

“Note
A-4”: As defined in the Introductory Statement.

 

“Note
B-1”: As defined in the Introductory Statement.

 

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“Note
B-2”: As defined in the Introductory Statement.

 

“Note
Rate”: With respect to each Note, a fixed per annum rate equal to 3.91513%.

 

“Notes”:
As defined in the Introductory Statement.

 

“Notional
Amount”: With respect to the Class X-A Certificates, the Class X-A Notional Amount, as reduced by the amount of Realized
Losses allocated to the Trust Loan pursuant to Section 4.1(g).

 

“NRSRO”:
Any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act, including
the Rating Agencies.

 

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

 

“Offering
Circular”: That certain Confidential Offering Circular, dated as of December 15, 2016.

 

“Officer’s
Certificate”: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a
Vice President (however denominated), the Treasurer, the Secretary, one of the Assistant Treasurers or Assistant Secretaries,
any Servicing Officer, Responsible Officer or other officer of the Servicer, the Special Servicer, the Depositor, any Loan Seller
or any other entity referred to herein, as the case may be, customarily performing functions similar to those performed by any
of the above designated officers and also with respect to a particular matter, any other officer to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject.

 

“Opinion
of Counsel”: A written opinion of counsel (which counsel, in the case of any such opinion of counsel relating to the
taxation of the Trust Fund or any portion thereof or the status of each Trust REMIC as a REMIC for taxation purposes, shall be
Independent of the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee), who may, without
limitation, be counsel for the Depositor, the Servicer, the Special Servicer or the Trustee, reasonably acceptable to the Certificate
Administrator or the Trustee, as applicable.

 

“Original
Lower-Tier Principal Amount”: With respect to any Class of Uncertificated Lower-Tier Interests, the initial Lower-Tier
Principal Amount thereof as of the Closing Date, in each case as specified in the Introductory Statement to this Agreement.

 

    37

     

    

 

“Origination
Date”: means December 2, 2016.

 

“Originators”:
As defined in the Introductory Statement.

 

“Other
Depositor”: With respect to any Other Securitization Trust, the related “depositor” (within the meaning
of Item 1101(e) of Regulation AB).

 

“Other
Exchange Act Reporting Party”: With respect to any Other Securitization Trust that is subject to the reporting requirements
of the Exchange Act, the trustee, operating advisor, asset representations reviewer, certificate administrator, master servicer,
special servicer or depositor under the related Other Pooling and Servicing Agreement that is responsible for the preparation
and/or filing of Form 8-K, Form 10-D and Form 10-K with respect to such Other Securitization Trust, as identified in writing to
the parties to this Agreement; and, with respect to any Other Securitization Trust that is not subject to the reporting requirements
of the Exchange Act and for the purposes of Sections 11.7, 11.8, 11.9 and 11.16 only, the trustee,
certificate administrator, master servicer, special servicer or depositor under the related Other Pooling and Servicing Agreement
that is responsible for the preparation and/or dissemination of periodic distribution date statements or similar reports, as identified
in writing to the parties to this Agreement.

 

“Other
Pooling and Servicing Agreement”: The pooling and servicing agreement or other comparable agreement governing the creation
of any Other Securitization Trust and the issuance of securities backed by the assets of such Other Securitization Trust.

 

“Other
Securitization Trust”: Any “issuing entity” (within the meaning of Item 1101(f) of Regulation AB) that holds
a Companion Loan (or any portion thereof or interest therein), as identified in writing to the parties to this Agreement.

 

“Par
Price”: An amount (without duplication) generally equal to the sum of (i) the unpaid principal balance of the Whole
Loan, (ii) accrued and unpaid interest on the Whole Loan at the applicable interest rate (exclusive of the Default Interest) to
and including the last day of the related Interest Accrual Period in which the repurchase is to occur, (iii) unreimbursed Property
Protection Advances and Administrative Advances together with interest on all Advances (including advances made with respect to
any Companion Loan under any Other Pooling and Servicing Agreement) and (iv) any unpaid Trust Fund Expenses.

 

“Pass-Through
Rate”: With respect to each Class of Regular Certificates, the per annum rate at which interest accrues on the Certificate
Balance or Notional Amount, as applicable, of such Class as set forth in Section 5.1(a), and for each Uncertificated
Lower-Tier Interest, the Net Trust Loan Rate, being, in each case, the rate at which interest accrues on the Certificate Balance,
Notional Amount or Lower-Tier Principal Amount, as applicable, of such Class as set forth in the Introductory Statement to this
Agreement.

 

“Percentage
Interest”: As to any Certificate, the percentage interest evidenced thereby in distributions required to be made with
respect to the related Class. With respect to any Regular Certificate, such “percentage interest” is equal to the
initial Certificate Balance or Notional Amount, as applicable, of such Certificate divided by the initial Certificate Balance
or Notional Amount, as applicable, of all of the Certificates of the related Class. With respect to

 

    38

     

    

 

the Class R Certificates,
the percentage specified on the Certificate held by the Holder of such Certificate.

 

“Performing
Party”: As defined in Section 11.12.

 

“Permitted
Encumbrances”: As defined in the Loan Agreement.

 

“Permitted
Investments”: Any one or more of the following obligations or securities acquired at a purchase price of not greater
than par, payable on demand or having a maturity date not later than the Business Day immediately prior to the first Loan Payment
Date following the date of acquiring such investment and meeting one of the appropriate standards set forth below:

 

(i)        direct
obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States of America,
Fannie Mae, Freddie Mac or any agency or instrumentality of the United States of America, the obligations of which are backed
by the full faith and credit of the United States of America that mature in one (1) year or less from the date of acquisition;
provided that any obligation of, or guarantee by, any agency or instrumentality of the United States of America shall be a Permitted
Investment only if such investment would not result in the downgrading, withdrawal or qualification of the then-current rating
assigned by each Rating Agency to any Certificate as evidenced in writing, other than (a) unsecured senior debt obligations of
the U.S. Treasury (direct or fully funded obligations), U.S. Department of Housing and Urban Development public housing agency
bonds, Federal Housing Administration debentures, Government National Mortgage Association guaranteed mortgage-backed securities
or participation certificates, RefCorp debt obligations and SBA-guaranteed participation certificates and guaranteed pool certificates
and (b) Farm Credit System consolidated systemwide bonds and notes, Federal Home Loan Banks’ consolidated debt obligations,
Freddie Mac debt obligations, and Fannie Mae debt obligations rated at least “A-1” by S&P, if such obligations
mature in 60 days or less, or rated at least “AA-”, “A-1+” or “AAAm” by S&P, if such obligations
mature in 365 days or less;

 

(ii)       time
deposits, demand unsecured certificates of deposit, or bankers’ acceptances with maturities of not more than 365 days that
are issued or held by any depository institution or trust company (including the Certificate Administrator) incorporated or organized
under the laws of the United States of America or any State thereof and subject to supervision and examination by federal or state
banking authorities which (A) in the case of such investments with maturities of 30 days or less, the short term obligations of
which are rated in the highest short term rating category by S&P and the long term obligations of which are rated at least
“AA-” by S&P, (B) in the case of such investments with maturities of three months or less, but more than 30 days,
the short term obligations of which are rated in the highest short term rating category by S&P and the long term obligations
of which are rated at least “AA-” by S&P, (C) in the case of such investments with maturities of six months or
less, but more than

 

    39

     

    

 

three months, the short term obligations of which are rated in the highest short term rating category by S&P
and the long term obligations of which are rated at least “AA-” by S&P and (D) in the case of such investments
with maturities of more than six months, the short term obligations of which are rated in the highest short term rating category
by S&P and the long term obligations of which are rated at least “AA-” by S&P (or, in each case, if permitted
by the Whole Loan, if not rated by S&P, otherwise acceptable to S&P, as confirmed in writing that such investment would
not, in and of itself, result in a downgrade, qualification or withdrawal of the then current ratings assigned to the Certificates);

 

(iii)      repurchase
agreements or obligations with respect to any security described in clause (i) above where such security has a remaining
maturity of one year or less and where such repurchase obligation has been entered into with a depository institution or trust
company (acting as principal) described in clause (ii) above;

 

(iv)      debt
obligations bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States
of America or any state thereof which mature in one (1) year or less from the date of acquisition, which (A) in the case
of such investments with maturities of 30 days or less, the short term obligations of which are rated in the highest short
term rating category by S&P and the long term obligations of which are rated at least “AA-” by S&P, (B) in
the case of such investments with maturities of three months or less, but more than 30 days, the short term obligations of
which are rated in the highest short term rating category by S&P and the long term obligations of which are rated at least
“AA-” by S&P, (C) in the case of such investments with maturities of six months or less, but more than three
months, the long term obligations of which are rated at least “AA-” by S&P, and (D) in the case of such investments
with maturities of more than six months, the long term obligations of which are rated “AA-” by S&P (or, in each
case, if permitted by the Whole Loan, if not rated by S&P, otherwise acceptable to S&P as confirmed in writing that such
investment would not, in and of itself, result in a downgrade, qualification or withdrawal of the then current ratings assigned
to the Certificates); provided, however, that securities issued by any particular corporation will not be Permitted
Investments to the extent that investment therein will cause the then outstanding principal amount of securities issued by such
corporation and held in the accounts established hereunder to exceed 10% of the sum of the aggregate principal balance and the
aggregate principal amount of all Permitted Investments in such accounts;

 

(v)       commercial
paper (including both non-interest-bearing discount obligations and interest-bearing obligations) payable on demand or on a specified
date maturing in one year or less after the date of issuance thereof and which (i) is rated in the highest applicable rating category
of S&P or (ii) have such other ratings as confirmed in a Rating Agency Confirmation;

 

    40

     

    

 

(vi)      any
money market fund that (a) has substantially all of its assets invested continuously in the types of investments referred to in
clause (i) above, (b) has net assets of not less than $5,000,000,000, and (c) has a rating of “AAAm” from S&P;

 

(vii)     units
of money market funds (including those managed or advised by the Trustee or its Affiliates) which maintain a constant net asset
value, such as the Wells Fargo Advantage Funds, provided that such units of money market funds are rated “AAAm”
by S&P; and

 

(viii)    any
other demand, money market or time deposit, obligation, security or investment with respect to which Rating Agency Confirmation
has been obtained from each Rating Agency;

 

Notwithstanding
the foregoing, “Permitted Investments” (i) shall be limited to investments that have an unqualified rating (i.e.,
one with no qualifying suffix), with the exception of ratings with regulatory indicators, such as the (sf) subscript, and unsolicited
ratings; (ii) shall be limited to those instruments that have a predetermined fixed dollar of principal due at maturity that
cannot vary or change; and (iii) shall exclude any investment where the right to receive principal and interest derived from
the underlying investment provides a yield to maturity in excess of 120% of the yield to maturity at par of such underlying investment.
Interest may either be fixed or variable, and any variable interest must be tied to a single interest rate index plus a single
fixed spread (if any), and move proportionately with that index; and provided, that each Permitted Investment qualifies
as a “cashflow investment” pursuant to Section 860G(a)(6) of the Code and no amount beneficially owned by the Upper-Tier
REMIC or the Lower-Tier REMIC (even if not yet deposited in the Trust) may be invested in investments (other than money market
funds) treated as equity interests for federal income tax purposes, unless the Servicer receives an Opinion of Counsel, at its
own expense, to the effect that such investment will not adversely affect the status of the Upper-Tier REMIC or the Lower-Tier
REMIC. No investment shall be made that requires a payment above par for an obligation if the obligation may be prepaid at the
option of the issuer thereof prior to its maturity. All investments shall mature or be redeemable upon the option of the holder
thereof on or prior to the earlier of (x) three months from the date of their purchase and (y) the Business Day preceding
the day before the date such amounts are required to be applied hereunder.

 

“Permitted
Special Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, banking fees, title agency fees
or insurance commissions or fees received or retained by the Special Servicer or any of its Affiliates in connection with any
services performed by such party with respect to the Whole Loan, subject to Section 3.17 of this Agreement.

 

“Permitted
Transferee”: Any Person or agent of such Person other than (a) a Disqualified Organization, (b) any other
Person so designated by the Certificate Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such
Person or the Person requesting the transfer) to the effect that the transfer of an ownership interest in any Class R Certificate
to such Person would not cause the Trust to fail to qualify as one or more REMICs at any time that the Certificates are outstanding,
(c) a Disqualified Non-U.S. Person, (d) any

 

    41

     

    

 

partnership if any of its interests are (or under the partnership agreement
are permitted to be) owned, directly or indirectly (other than through a U.S. corporation), by a Disqualified Non-U.S. Person
or (e) a U.S. Person with respect to whom income from the Class R Certificate is attributable to a foreign permanent
establishment or fixed base, within the meaning of an applicable income tax treaty, of the transferee or any other U.S. Person.

 

“Person”:
Any individual, corporation, limited liability company, partnership, joint venture, estate, trust, unincorporated association,
any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such
capacity on behalf of any of the foregoing.

 

“Prepayment
Fee”: As defined in the Loan Agreement.

 

“Prime
Rate”: The “prime rate” published in The Wall Street Journal. If The Wall Street Journal ceases
to publish the “prime rate”, then the Servicer shall select an equivalent publication that publishes such “prime
rate”, and if such “prime rate” is no longer generally published or is limited, regulated or administered by
a governmental or quasi-governmental body, then the Servicer shall reasonably select a comparable interest rate index.

 

“Principal
Distribution Amount”: For each Distribution Date and any Class of Sequential Pay Certificates, the sum of (i) the
Regular Principal Distribution Amount for such Distribution Date and such Class and (ii) the aggregate Principal Shortfalls
in respect of prior Distribution Dates for such Class of Certificates.

 

“Principal
Shortfall”: For each Distribution Date and any Class of Sequential Pay Certificates, the amount by which the Regular
Principal Distribution Amount for such Class exceeds the amount actually distributed to such Class in respect of principal on
such Distribution Date.

 

“Privileged
Information”: Any (i) correspondence or other communications between the Controlling Class Representative and the Special
Servicer related to the Whole Loan if it is subject to a Special Servicing Loan Event or the exercise of the consent or consultation
rights of the Controlling Class Representative under this Agreement, (ii) strategically sensitive information that the Special
Servicer has reasonably determined could compromise the Trust Fund’s position in any ongoing or future negotiations with
the Loan Borrower or other interested party, and (iii) information subject to attorney client privilege.

 

“Privileged
Person”: The Depositor, the Initial Purchasers, the Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
a designee of the Depositor or any person or entity (including a Companion Loan Holder) who provides the Certificate Administrator
with an Investor Certification in the form of Exhibit K-1, which Investor Certification may be submitted electronically
via the Certificate Administrator’s website; provided that in no event shall a Borrower Related Party be considered
a Privileged Person. However, such Borrower Related Party shall be entitled to receive access to the Distribution Date Statements
posted on the Certificate Administrator’s Website. The provisions herein shall not limit the Servicer’s or the Special
Servicer’s ability to make accessible certain information regarding the Mortgage Loan at a website maintained by the Servicer
or the Special Servicer.

 

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 None of the Servicer, the Special Servicer or the Certificate Administrator shall be liable for any communication
to the Controlling Class Representative or Controlling Class Certificateholder or disclosure of information if the Servicer, the
Special Servicer or the Certificate Administrator, as applicable, did not receive prior written notice that the Controlling Class
Representative or Controlling Class Certificateholder is a Borrower Related Party. Each of the Servicer, the Special Servicer
and the Certificate Administrator shall be entitled to conclusively rely on any written notice from the Controlling Class Representative
or Controlling Class Certificateholder that it is or is no longer a Borrower Related Party.

 

“Property”:
As defined in the Loan Agreement.

 

“Property
Protection Advances”: As defined in Section 3.23(b).

 

“QIB”:
A “qualified institutional buyer” within the meaning of Rule 144A.

 

“Qualified
Bidder”: As defined in Section 7.2(b).

 

“Qualified
Insurer Ratings”: With respect to an insurer, a rating that is no lower than (i) “A-” by S&P, (ii) “A3”
by Moody’s, (iii) “A-” by Fitch or (iii) “A-:X” by A.M. Best.

 

“Qualified
Servicer”: With respect to the applicable replacement Servicer or Special Servicer with respect to the applicable (i)
non-responding Rating Agency pursuant to Section 3.26 hereof, the applicable replacement (a) with respect to S&P,
is listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master Servicer or U.S. Commercial Mortgage Special
Servicer, as applicable, (b) with respect to Morningstar (1) has a ranking by Morningstar higher than or equal to “MOR CS3”
as a master servicer or special servicer, as applicable, or (2)(A) such replacement Servicer or Special Servicer is acting as
servicer or special servicer, as applicable, in a commercial mortgage loan securitization that was rating by a Rating Agency within
the twelve (12) month period prior to the date of determination and (B) Morningstar has not cited servicing concerns of the applicable
replacement Servicer or Special Servicer as the sole or material factor in any qualification, downgrade or withdrawal of the then-current
rating or ratings of one or more classes of such commercial mortgage-backed securities and (ii) non-responding Companion Loan
Rating Agency (solely to the extent any of the following is currently rating any Companion Loan Securities), the applicable replacement
(a) with respect to Moody’s, Moody’s has not cited servicing concerns of the applicable replacement Servicer or Special
Servicer, as applicable, as the sole or material factor in any qualification, downgrade, or withdrawal of the ratings (or placement
on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in any commercial mortgage
loan securitization that was rated by Moody’s and serviced by the applicable replacement Servicer or Special Servicer prior
to the time of determination, (b) with respect to Fitch, is rated at least “CMS3” (in the case of the replacement
Servicer) or “CSS3” (in the case of the replacement Special Servicer), (c) with respect to KBRA, KBRA has not cited
servicing concerns with the applicable replacement Servicer or 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 CMBS transaction serviced by the applicable replacement Servicer or Special Servicer prior to the
time of determination, or (d) with respect to DBRS, is currently acting as a servicer or special servicer, as applicable, on a
“deal-level” or

 

    43

     

    

 

“transaction-level” basis for all or a significant portion of the mortgage loans in other
commercial mortgage-backed securitization transactions and has not been cited by DBRS as having servicing concerns as the sole
or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in
contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by the applicable replacement Servicer
or Special Servicer prior to the time of determination.

 

“Rated
Final Distribution Date”: The Distribution Date occurring in January 2035.

 

“Rating
Agencies”: Any of S&P and Morningstar.

 

“Rating
Agency Confirmation”: With respect to any matter, confirmation in writing (which may be in the form of electronic mail,
facsimile, press release, posting to its internet website or such other means then considered industry standard as determined
by such Rating Agency) by a 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 if a written waiver or other acknowledgment from the Rating Agency
indicating its decision not to review or to decline to review the matter for which the Rating Agency Confirmation is sought is
received (such written notice, a “Rating Agency Declination”), the requirement to receive a Rating Agency Confirmation
from the Rating Agency with respect to such matter will not apply; provided, further that any Rating Agency Confirmation
is subject to the terms set forth in Section 3.26.

 

“Realized
Loss”: With respect to any Distribution Date, the amount, if any, by which (i) the aggregate of the Certificate
Balances of the Sequential Pay Certificates after giving effect to distributions made on such Distribution Date exceeds (ii) the
outstanding principal balance of the Trust Loan after giving effect to (a) any payments of principal received with respect
to the Loan Payment Date occurring immediately prior to such Distribution Date and (b) the aggregate reductions of the principal
balance of the Trust Loan that have been permanently made as a result of a bankruptcy proceeding, modification or otherwise.

 

“Record
Date”: With respect to any Distribution Date, the close of business on the last day of the calendar month preceding
the calendar month in which such Distribution Date occurs, or if such last day is not a Business Day, the preceding Business Day.

 

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

 

“Regular
Principal Distribution Amount”: For each Distribution Date and any Class of Sequential Pay Certificates, (i) all
amounts collected in respect of principal during the related Collection Period with respect to the Trust Loan and (ii) the
principal portion of any Repurchase Price, Liquidation Proceeds, Insurance Proceeds and Condemnation Proceeds, in each case received
during the related Collection Period, in the case of either (i) or (ii), that would be allocated to such Class of Certificates
if distributed to the holders of the Certificates to reduce

 

    44

     

    

 

the outstanding Certificate Balance of each Class of Sequential Pay
Certificates to zero pursuant to this Agreement.

 

“Regulation
AB”: 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. Each of the parties hereto acknowledge that
the Regulation AB provisions herein shall be construed as if the Certificates were publicly registered and reporting were required
at all times.

 

“Regulation S”:
Regulation S under the Securities Act.

 

“Regulation S
Global Certificate”: As defined in Section 5.2(a).

 

“Related
Certificates”, “Related Uncertificated Lower-Tier Interests”: For the following Classes of Certificates
and Classes of Uncertificated Lower Tier Interests, the related Class of Certificates or Class of Uncertificated Lower Tier Interest,
as applicable, set forth below:

 

	Related
Uncertificated Lower-Tier Interests 
	 	Related
Certificates 

	Class LA
    Uncertificated Interest	 	Class
    A
	Class
    LB Uncertificated Interest	 	Class
    B
	Class
    LC Uncertificated Interest	 	Class
    C
	Class
    LD Uncertificated Interest	 	Class
    D
	Class
    LE Uncertificated Interest	 	Class
    E

 

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

 

“REMIC
Provisions”: Provisions of the Code relating to “real estate mortgage investment conduits,” including Sections
860A through 860G of the Code and any related regulations or announcements promulgated thereunder by the U.S. Department of the
Treasury.

 

“Relevant
Action”: As defined in Section 5.2(a).

 

“Remittance
Date”: With respect to each Distribution Date, the Business Day immediately preceding such Distribution Date.

 

“Rents
from Real Property”: With respect to any Foreclosed Property, gross income of the character described in Section 856(c)(3)(A)
of the Code.

 

“REO
Management Fee”: As to the Property when it is Foreclosed Property, a fee payable out of the Foreclosed Property Account
to the Successor Manager for managing such Property while it is owned by the Trust Fund, which shall be reasonable and customary
in the market in which such Property is located.

 

    45

     

    

 

“Reportable
Event”: As defined in Section 5.2(a).

 

“Reporting
Servicer”: The Servicer, the Special Servicer or a Servicing Function Participant engaged by any such party, as the
case may be.

 

“Repurchase
Communication”: For purposes of Section 2.8(a) only, any communication, whether oral or written, which need
not be in any specific form.

 

“Repurchase
Mortgage File”: With respect to any repurchase of the Trust Loan (or any portion thereof), the Mortgage File.

 

“Repurchase
Price”: An amount (without duplication) equal to the sum of (i) the unpaid principal balance of the Trust Loan,
(ii) accrued and unpaid interest on the Trust Loan at the Trust Loan Rate (exclusive of the Default Interest) to and including
the last day of the related Interest Accrual Period in which the repurchase is to occur, (iii) unreimbursed Property Protection
Advances and Administrative Advances together with interest on such Advances, (iv) an amount equal to all interest on outstanding
Monthly Payment Advances, (v) any unpaid Trust Fund Expenses and (vi) any other out-of-pocket expenses reasonably incurred
or expected to be incurred by the Servicer, the Special Servicer, the Certificate Administrator or the Trustee arising out of
the enforcement of the repurchase obligation or indemnity. No Liquidation Fee shall be paid by the Loan Sellers in connection
with a repurchase of the Trust Loan (or any Loan Seller Percentage Interest in the Trust Loan) pursuant to the Loan Purchase Agreement
if such repurchase occurs within the time limits specified in the Loan Purchase Agreement.

 

“Repurchase
Request”: As defined in Section 2.8(a).

 

“Repurchase
Request Withdrawal”: As defined in Section 2.8(a).

 

“Requesting
Party”: As defined in Section 3.26(a).

 

“Required
Advance Amount”: With respect to any Distribution Date, an amount equal to (a) the amount of the Monthly Payment
Advance (taking into account any Appraisal Reduction Amount with respect to the Trust Loan as of such Distribution Date) that
would be required to be made on the related Remittance Date by the Servicer pursuant to this Agreement had the Loan Borrower not
made any portion of the Monthly Payment of principal (if any) and interest (or an Assumed Monthly Payment) in respect of the Trust
Loan for the related Loan Payment Date or Assumed Loan Payment Date less (b) the aggregate compensation payable on such Remittance
Date to the Certificate Administrator in respect of the Certificate Administrator Fee (including the portion that constitutes
the Trustee Fee) and to CREFC® in respect of the CREFC® Intellectual Property Royalty License Fee.

 

“Reserve
Account”: Any reserve account required to be maintained under the Loan Agreement.

 

“Residual
Ownership Interest”: Any record or beneficial interest in the Class R Certificates.

 

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“Responsible
Officer”: With respect to (i) the Trustee, any officer in the Corporate Trust department of the Trustee having direct
responsibility for the administration of this Agreement and (ii) the Certificate Administrator, any officer assigned to the
Corporate Trust Services group, with direct responsibility for the administration of this Agreement and also, with respect to
a particular matter, any other officer to whom a particular matter is referred by the Certification Administrator. With respect
to the Depositor, any director, vice president, assistant vice president, assistant secretary, treasurer, assistant treasurer,
trust officer or any other officer of the Depositor, customarily performing functions similar to those performed by any of the
above-designated officers with direct responsibility for the administration of this Agreement and also, with respect to a particular
matter, to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject,
and, in the case of any certification or other document required to be signed by a Responsible Officer, an authorized signatory
whose name and specimen signature appears on a list furnished to the Servicer or the Special Servicer, as applicable, by the Depositor,
as such list may from time to time be amended.

 

“Restricted
Holder”: Any Certificateholder, Beneficial Owner of a Certificate or prospective purchaser of a Certificate (whether
legally, beneficially or otherwise) or any other Person that is also a holder of a related mezzanine loan (or any affiliate or
agent thereof) or an owner in any interest in any related mezzanine loan (whether legally, beneficially or otherwise, including
as a holder of a note evidencing a related mezzanine loan, a holder of a participation interest in a related mezzanine loan or
a Beneficial Owner of any securities collateralized by a related mezzanine loan) (a) as to which an event of default has occurred
under such mezzanine loan giving rise to an automatic acceleration of such mezzanine loan or the right of the lender thereunder
to accelerate such mezzanine loan or (b) as to which foreclosure proceedings against the related collateral have been initiated
(and in respect of which, the Special Servicer has received notice thereof).

 

“Restricted
Period”: As defined in Section 5.2(a).

 

“Rule 144A”:
As defined in Section 5.2(b).

 

“Rule 144A
Global Certificate”: As defined in Section 5.2(b).

 

“Sarbanes
Oxley Act” means the Sarbanes Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder
(including any interpretations thereof by the Commission’s staff).

 

“Sarbanes-Oxley
Certification”: With respect to an Other Securitization Trust, the certification required to be filed together with
such Other Securitization Trust’s Exchange Act report on Form 10-K pursuant to Rule 13a-14 and Rule 15d-14 of the Exchange
Act.

 

“S&P”:
S&P Global Ratings, acting through Standard & Poor’s Financial Services LLC, or any of its successors in interest.
If neither S&P nor any successor remains in existence, “S&P” shall be deemed to refer to such other nationally
recognized statistical rating agency or other comparable Person designated by the Depositor, notice of which designation shall
be given to the Trustee, and specific ratings of S&P herein referenced shall be deemed to refer to the equivalent ratings
of the party so designated.

 

    47

     

    

 

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

 

“Sequential
Pay Certificates”: The Class A, Class B, Class C, Class D and Class E Certificates.

 

“Servicer”:
Midland Loan Services, a Division of PNC Bank, National Association, a national banking association, in its capacity as servicer,
and its successors in interest, or if any successor servicer is appointed as herein provided, such successor servicer.

 

“Servicer
Customary Expense”: As defined in Section 3.17.

 

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

 

“Servicer
Termination Event”: As defined in Section 7.1(a).

 

“Service(s)”
or “Servicing”: In accordance with Regulation AB, the act of servicing and administering the Whole Loan or
any other assets of the Trust by an entity that meets the definition of “servicer” set forth in Item 1101 of Regulation
AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized
occurrence of this term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities
industry.

 

“Servicing
Criteria”: The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be
amended from time to time and which as of the Closing Date are listed on Exhibit L hereto.

 

“Servicing
Fee”: With respect to the Trust Loan and each Companion Loan (including any Foreclosed Property), a fee payable monthly
to the Servicer pursuant to Section 3.17 (which includes the Excess Servicing Fee) which will accrue at the Servicing
Fee Rate, computed on the basis of the same principal amount, in the same manner, and for the same Interest Accrual Period respecting
which any related interest payment on each Note is computed. For the avoidance of doubt, the Servicing Fee shall be deemed payable
from the Lower-Tier REMIC.

 

“Servicing
Fee Rate”: With respect to the Trust Loan, 0.0025% per annum; and with respect to each Companion Loan, a primary
servicing fee rate of 0.00125% per annum.

 

“Servicing
Function Participant”: Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Certificate
Administrator, the Trustee, the Servicer and the Special Servicer, that is performing activities that address the Applicable Servicing
Criteria as of any date of determination.

 

“Servicing
Officer”: Any officer of the Servicer or the Special Servicer involved in, or responsible for, the administration and
servicing of the Whole Loan whose name and specimen signature appear on a list of servicing officers furnished to the Trustee
and the Certificate Administrator on the Closing Date by the Servicer or the Special Servicer, as

 

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applicable,
in the form of an Officer’s Certificate, as such list may from time to time be amended.

 

“Servicing
Party”: As defined in Section 7.2(b).

 

“Servicing-Released
Bid”: As defined in Section 7.2(b).

 

“Servicing-Retained
Bid”: As defined in Section 7.2(b).

 

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is fifteen (15) days after the distribution date under the Other Pooling and Servicing Agreement
occurring on or immediately following the 45th day after the end of such calendar quarter.

 

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 120th day after the end
of such calendar year.

 

“Special
Notice”: As defined in Section 5.6.

 

“Special
Servicer”: AEGON USA Realty Advisors, LLC, an Iowa limited liability company, in its capacity as special servicer, and
its successors in interest, or if any successor special servicer is appointed as herein provided, such successor special servicer.

 

“Special
Servicer Customary Expense”: As defined in Section 3.17.

 

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

 

“Special
Servicer Termination Event”: As defined in Section 7.1(a).

 

“Special
Servicing Fee”: With respect to the Specially Serviced Loan, a fee payable monthly to the Special Servicer equal to
an amount computed on the basis of the same principal amount and for the same period respecting which any related interest payment
on each Note is computed, at a rate of 0.250% per annum until the Special Servicing Loan Event with respect to such Specially
Serviced Loan no longer exists. Such fee shall be in addition to, and not in lieu of, any other fee or other sum payable
to the Special Servicer under this Agreement. For the avoidance of doubt, the Special Servicing Fee shall be deemed payable from
the Lower-Tier REMIC.

 

“Special
Servicing Loan Event”: With respect to the Whole Loan, (i) the Loan Borrower has not made two (2) consecutive Monthly
Payments (and has not cured at least one such delinquency by the next Loan Payment Date under the Loan Documents) in respect of
the Whole Loan; (ii) the Servicer and/or the Trustee have made three (3) consecutive Monthly Payment Advances with respect
to the Trust Loan (regardless of whether such Monthly Payment Advances have been reimbursed); (iii) the Loan Borrower fails
to make the Balloon Payment when due, and the Loan Borrower has not delivered to the Servicer, on or before the Loan Payment Date
of such Balloon Payment, a written refinancing commitment from an acceptable

 

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lender
and reasonably satisfactory in form and substance to the Servicer that provides that such refinancing will occur within one hundred
twenty (120) days after the date on which such Balloon Payment will become due (provided that a Special Servicing Loan
Event will occur if either (x) such refinancing does not occur before the expiration of the time period for refinancing specified
in such binding commitment or (y) the Servicer is required to make a Monthly Payment Advance at any time prior to such refinancing);
(iv) the Servicer has received notice that the Loan Borrower has become the subject as debtor of any bankruptcy, insolvency
or similar proceeding, admitted in writing the inability to pay its debts as they come due or made an assignment for the benefit
of creditors; (v) the Servicer has received notice of a foreclosure or threatened foreclosure of a lien on the Property;
(vi) the Loan Borrower has expressed in writing to the Servicer an inability to pay the amounts owed under the Whole Loan in a
timely manner, (vii) in the judgment of the Servicer (consistent with Accepted Servicing Practices), a default in the payment
of principal or interest under the Whole Loan is reasonably foreseeable unless (a) such reasonably foreseeable default is
solely related to a reasonably foreseeable default in the payment of the Balloon Payment on the Stated Maturity Date, (b) the
Loan Borrower requests the extension of the Stated Maturity Date, (c) the Servicer (with the consent of the Special Servicer),
grants an extension of the Stated Maturity Date pursuant to Section 3.4 hereof and (d) such extension occurs
prior to the Stated Maturity Date; or (viii) a default under the Whole Loan of which the Servicer has notice (other than
a failure by the Loan Borrower to pay principal or interest) and that materially and adversely affects the interests of the Certificateholders
has occurred and remains unremedied for the applicable grace period specified in the Loan Documents (or, if no grace period is
specified, sixty (60) days); provided, that a Special Servicing Loan Event will cease (a) with respect to the circumstances
described in any of clauses (i), (ii) and (iii) above, when the Loan Borrower has brought the Whole Loan current (including
pursuant to the workout of the Whole Loan) and with respect to clauses (i) and (ii) above, after the occurrence of such event
when the Loan Borrower makes three (3) consecutive full and timely Monthly Payments on the Whole Loan, or (b) with respect
to the circumstances described in clauses (iv), (v), (vi), (vii) and (viii) above, when such circumstances cease to exist
in the judgment of the Special Servicer (consistent with Accepted Servicing Practices); provided, in any case, that at
that time no other circumstance exists (as described above) that would constitute a Special Servicing Loan Event.

 

“Specially
Serviced Loan”: The Whole Loan after the occurrence and during the continuance of a Special Servicing Loan Event.

 

“Sponsor”:
Vornado Realty Trust.

 

“Startup
Day”: As defined in Section 12.1(c).

 

“Stated
Maturity Date”: The Loan Payment Date in January 2027, or such earlier date as may result from acceleration of the Whole
Loan in accordance with the terms of the Loan Agreement.

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities industry) of the Whole Loan but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to the Whole Loan under the

 

    50

     

    

 

direction
or authority of the Servicer (or a Sub-Servicer of the Servicer), the Special Servicer (or a Sub-Servicer of the Special Servicer)
or an Additional Servicer (or a Sub-Servicer of an Additional Servicer).

 

“Sub-Servicer”:
Any Person that (i) Services the Whole Loan on behalf of the Servicer, Special Servicer or any Sub-Servicer and (ii) is
responsible for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of the
servicing functions required to be performed by the Servicer, Special Servicer, Servicing Function Participant or an Additional
Servicer, under this Agreement, with respect to the Whole Loan, that are identified in Item 1122(d) of Regulation AB.

 

“Successful
Bidder”: As defined in Section 7.2(b).

 

“Successor
Manager”: Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trustee, to serve
as manager of a Foreclosed Property, which designation, as evidenced by a Rating Agency Confirmation from each Rating Agency,
will not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates by such Rating Agency.

 

“Tax
Matters Person”: The Person designated as the “tax matters person” of the Upper-Tier REMIC and the Lower-Tier
REMIC, pursuant to Treasury Regulations Section 1.860F-4(d).

 

“Temporary
Regulation S Global Certificate”: As defined in Section 5.2(a).

 

“Terminated
Party”: As defined in Section 7.1(d).

 

“Terminating
Party”: As defined in Section 7.1(d).

 

“Treasury”:
The United States Department of the Treasury.

 

“Treasury
Constant Yield”: As defined in the Loan Agreement.

 

“Transferee
Affidavit”: As defined in Section 5.3(n)(ii).

 

“Transferor
Letter”: As defined in Section 5.3(n)(ii).

 

“Trust”:
The trust formed pursuant to this Agreement.

 

“Trust
A Notes”: As defined in the Introductory Statement.

 

“Trust
Fund”: The corpus of the Trust created by this Agreement, consisting of (i) the Trust Loan, including the related
Notes, together with the Mortgage File relating thereto; (ii) all scheduled and unscheduled payments on or collections in
respect of the Trust Loan (including all interest that accrues on the Trust Loan on or after the Cut-off Date and all scheduled
principal received on or with respect to the Trust Loan on the Cut-off Date); (iii) the Foreclosed Property (but only to
the extent of the Trust’s interest in such Foreclosed Property) and Foreclosed Property Account; (iv) all revenues
received in respect of the Foreclosed

 

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Property
(but only to the extent of the Trust’s interest in such Foreclosed Property); (v) the Servicer’s, Special Servicer’s,
the Certificate Administrator’s and the Trustee’s rights under the insurance policies with respect to the Property
required to be maintained pursuant to this Agreement and any proceeds thereof (but only to the extent of the Trust’s interest
therein); (vi) any Collateral Security Documents; (vii) any indemnities or guaranties given as additional security for
the Notes (including the Environmental Indemnity relating to the Property); (viii) all funds deposited in the Collection
Account, the Interest Reserve Account and the Distribution Account, including reinvestment income thereon (except as otherwise
provided herein); (ix) the rights and remedies of the Depositor under the Loan Purchase Agreement; (x) the security interest
in the Reserve Accounts granted pursuant to Section 2.1 (but only to the extent of the Trust’s interest therein);
(xi) all other assets included or to be included in the Lower-Tier REMIC for the benefit of the Upper-Tier REMIC; (xii) the
Uncertificated Lower-Tier Interests; and (xiii) the proceeds of any of the foregoing.

 

“Trust
Fund Expenses”: Any unanticipated and certain other default related expenses incurred by the Trust Fund (including,
without limitation, all interest on Advances and all Loan Borrower Reimbursable Trust Fund Expenses, to the extent not reimbursed
by the Loan Borrower) and all other amounts (such as indemnification payments to any party to this Agreement) permitted to be
retained, reimbursed or withdrawn and remitted by the Servicer, the Special Servicer, the Certificate Administrator or the Trustee,
as applicable, from the Collection Account or the Distribution Account pursuant to this Agreement.

 

“Trust
Loan”: As defined in the Introductory Statement.

 

“Trust
Loan Rate”: With respect to any Interest Accrual Period and the Trust Loan, the per annum rate at which interest (but
not Default Interest) accrues thereon for such Interest Accrual Period as specified in the Loan Agreement.

 

“Trust
Note”: As defined in the Introductory Statement.

 

“Trust
REMIC”: The Upper-Tier REMIC or the Lower-Tier REMIC, individually or collectively, as the context may require.

 

“Trustee”:
Wells Fargo Bank, National Association, in its capacity as trustee, and its successors in interest, or any successor trustee appointed
as herein provided.

 

“Trustee
Fee”: The portion of the Certificate Administrator Fee payable monthly by the Certificate Administrator to the Trustee
pursuant to Section 8.5.

 

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

 

“Uncertificated
Lower-Tier Interests”: Any of the Class LA, Class LB, Class LC, Class LD and Class LE Uncertificated Interests.

 

“Uninsured
Cause”: Any cause of damage to property of the Loan Borrower subject to the Mortgage such that the complete restoration
of such property is not fully reimbursable (but without regard to any applicable deductible provisions) by any insurance

 

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policy
required to be maintained with respect thereto pursuant to the terms of the Loan Documents or this Agreement.

 

“Unscheduled
Payments”: With respect to any Distribution Date, all payments and collections received by the Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as applicable, with respect to the Whole Loan or upon foreclosure or liquidation
of the Property (net of related foreclosure expenses and Liquidation Expenses) during the related Collection Period including,
but not limited to, prepayments due to acceleration of the Whole Loan, Net Liquidation Proceeds, Insurance Proceeds, Condemnation
Proceeds, Net Foreclosure Proceeds, voluntary prepayments and other payments and collections on the Whole Loan not scheduled to
be received, other than Monthly Payments or the Balloon Payment.

 

“Upper-Tier
Distribution Account”: A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier
REMIC.

 

“Upper-Tier
REMIC”: One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Uncertificated
Lower-Tier Interests and such amounts as shall from time to time be held in the Upper-Tier Distribution Account.

 

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

 

“Voting
Rights”: The portion of the voting rights of all of the Certificates that is allocated to any Certificate or Class of
Certificates. At any time that any Certificates are outstanding, the Voting Rights shall be allocated to each Class of Certificateholders
as follows: (1) 4% to the Class X-A Certificates (for so long as the Class X-A Notional Amount has not been reduced to zero) and
(2) in the case of any other Class of Certificates, a percentage equal to the product of (x) 96% and (y) a percentage equal to
the aggregate Certificate Balance (and in connection with certain votes under this Agreement, taking into account any notional
reduction in the Certificate Balance for Appraisal Reduction Amounts allocated to the Sequential Pay Certificates) of the Class,
in each case, determined as of the prior Distribution Date, divided by the aggregate Certificate Balance (and in connection with
certain votes under this Agreement, taking into account any notional reduction in the Certificate Balance, for Appraisal Reduction
Amounts allocated to the Sequential Pay Certificates) of all Classes of Certificates, each determined as of the prior Distribution
Date. The Class R Certificates shall not be entitled to any Voting Rights.

 

“Whole
Loan”: As defined in the Introductory Statement hereto.

 

“Whole
Loan Rate”: A fixed per annum rate equal to 3.91513%.

  

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“Withheld
Amounts”: As defined in Section 3.4(d).

 

“Workout
Fee”: A fee payable to the Special Servicer pursuant to Section 3.17 equal to 0.40% of each payment of principal
and interest (other than Default Interest) made on the Whole Loan following resolution of a Special Servicing Loan Event by a
written agreement with the Loan Borrower negotiated by the Special Servicer for so long as another Special Servicing Loan Event
does not occur. For the avoidance of doubt, the intent of Section 10.21 of the Loan Agreement requires the Loan Borrower
to be responsible for the payment of Workout Fees and the Special Servicer will be entitled to, and may collect, any Workout Fees
payable to it from the Loan Borrower pursuant to such Section 10.21 of the Loan Agreement as would be calculated hereunder.
Notwithstanding the foregoing, the Workout Fee with respect to the Specially Serviced Loan shall be reduced by any Modification
Fees paid by or on behalf of the Loan Borrower and received by the Special Servicer as compensation, but only to the extent those
fees have not previously been deducted from a Workout Fee or Liquidation Fee.

 

Section 1.2.     Interpretation.
(a)  Whenever this Agreement refers to a Distribution Date and a “related” Collection Period, Interest Accrual
Period or Loan Payment Date, such reference shall be to the Collection Period, Interest Accrual Period or Loan Payment Date, as
applicable, immediately preceding such Distribution Date.

 

(b)       Whenever
this Agreement refers to a Distribution Date and an “applicable” Pass-Through Rate, such reference shall be to the
Pass-Through Rate for the applicable Class for the related Interest Accrual Period.

 

(c)       The
words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement
shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Exhibit references
contained in this Agreement are references to Sections and Exhibits in or to this Agreement unless otherwise specified.

 

(d)       Interest
on the Certificates shall be computed (including interest at any Pass-Through Rate) on the basis of a 360 day year consisting
of twelve 30-day months.

 

Section 1.3.     Certain
Calculations in Respect of the Trust Loan or the Whole Loan. (a)  All amounts collected by or on behalf of the Trust
in respect of the Whole Loan or the Trust Loan, as applicable, in the form of payments from the Loan Borrower, Liquidation Proceeds,
Condemnation Proceeds and Insurance Proceeds shall be applied to amounts due and owing under the Loan Documents (including for
principal and accrued and unpaid interest) in accordance with the express provisions of the Loan Documents and the Co-Lender Agreement;
provided, however, in the absence of such express provisions in the Loan Documents or if and to the extent that
such terms authorize the Loan Lender to use its discretion and in any event for purposes of calculating distributions hereunder
after a Loan Event of Default, all such amounts collected will be applied in the following order of priority: first, as
a recovery of any related and unreimbursed Advances plus interest accrued thereon and, without duplication, unreimbursed Loan
Borrower Reimbursable Trust Fund Expenses; second, as a recovery of Nonrecoverable Advances or interest on Nonrecoverable
Advances to the extent previously reimbursed from principal collections with respect to the Whole Loan or Trust Loan, as applicable
(which amount

 

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allocated
to the Trust Loan is required to be treated as a collection on the Trust Loan in respect of principal in calculating the Regular
Principal Distribution Amount); third, less any amounts reimbursed as Monthly Payment Advances in clause (i) above,
as a recovery of accrued and unpaid interest on each Trust Note to the extent of the excess of (i) accrued and unpaid interest
on such Note at the Note Rate of such Note (without giving effect to any increase in such Note Rate required under the Loan Agreement
as a result of a default under the Trust Loan) through and including the end of the related Interest Accrual Period in which such
collections are received by or on behalf of the Trust (or, in the case of a full Monthly Payment from the Loan Borrower, through
the related Distribution Date), over (ii) the cumulative amount of the reductions (if any) in the amount of the interest
portion of the related Monthly Payment Advances for such Trust Note that have occurred in connection with Appraisal Reduction
Amounts (to the extent that collections have not been applied as a recovery of accrued and unpaid interest pursuant to clause fifth
below on earlier dates) (such accrued and unpaid interest to be applied pursuant to the Co-Lender Agreement); fourth,
as a recovery of principal of the Whole Loan or the Trust Loan, as applicable, then due and owing, including by reason of acceleration
of the Whole Loan following a Loan Event of Default (or, if the Whole Loan has been liquidated, as a recovery of principal to
the extent of its entire remaining unpaid principal balance) (such principal to be applied pursuant to the Co-Lender Agreement);
fifth, as a recovery of accrued and unpaid interest on the Trust Loan to the extent of the cumulative amounts of reductions
(if any) in the amount of the interest portion of the related Monthly Payment Advances for the Trust Loan that have occurred in
connection with related Appraisal Reduction Amounts (to the extent collections have not been applied as recovery of accrued and
unpaid interest pursuant to this clause fifth on earlier dates); sixth, as a recovery of amounts to be currently
applied to the payment of, or escrowed for the future payment of, real estate taxes, assessments and insurance premiums and similar
items relating to the Whole Loan or the Trust Loan, as applicable; seventh, as a recovery of any other reserves to the
extent then required to be held in escrow; eighth, as a recovery of any Prepayment Fee then due and owing under the Whole
Loan or the Trust Loan, as applicable, (such Prepayment Fee to be applied according to the Co-Lender Agreement); ninth,
as a recovery of any Default Interest or late charges then due and owing under the Whole Loan or the Trust Loan, as applicable
(such Default Interest and late charges to be applied pursuant to the Co-Lender Agreement); tenth, as a recovery of any
assumption fees, assumption application fees, defeasance fees, consent fees, release fees, substitution fees, Modification Fees
and similar fees then due and owing under the Whole Loan or Trust Loan, as applicable; and eleventh, as a recovery of any
other amounts then due and owing under the Whole Loan or Trust Loan, as applicable, provided that, to the extent required
under the REMIC Provisions, payments or proceeds received with respect to the release of any portion of the Property (including
following a condemnation) from the lien of the Mortgage and Loan Documents must be allocated to reduce the principal balance of
the Trust Loan in the manner permitted by such REMIC Provisions if, immediately following such release, the loan-to value ratio
of the Whole Loan (based solely on real property and excluding any personal property and going concern value) exceeds 125%.

 

(b)       Collections
by or on behalf of the Trust in respect of the Foreclosed Property (exclusive of amounts to be applied to the payment of the costs
of operating, managing, leasing, maintaining and disposing of such Foreclosed Property) shall be applied in the following order
of priority: first, as a recovery of any related and unreimbursed Advances plus interest accrued on such advances with
respect to the Whole Loan or the Trust Loan, as applicable, and,

 

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without
duplication, unreimbursed Loan Borrower Reimbursable Trust Fund Expenses; second, as a recovery of Nonrecoverable Advances
or interest on Nonrecoverable Advances to the extent previously reimbursed from principal collections with respect to the Whole
Loan or Trust Loan, as applicable (which amount allocated to the Trust Loan is required to be treated as a collection on the Trust
Loan in respect of principal in calculating the Regular Principal Distribution Amount); third, less any amounts reimbursed
as Monthly Payment Advances in clause (i) above as a recovery of accrued and unpaid interest on each Trust Note to the
extent of the excess of (i) accrued and unpaid interest on such Note at the Note Rate of such Note (without giving effect
to any increase in such Note Rate required under the Loan Agreement as a result of a default under the Whole Loan or the Trust
Loan, as applicable) through and including the end of the related Interest Accrual Period in which such collections are received
by or on behalf of the Trust, over (ii) the cumulative amount of the reductions (if any) in the amount of the interest portion
of the related Monthly Payment Advances for such Trust Loan that have occurred in connection with Appraisal Reduction Amounts
(to the extent that collections have not been applied as a recovery of accrued and unpaid interest pursuant to clause fifth
below on earlier dates) (such accrued and unpaid interest to be applied pursuant to the Co-Lender Agreement; fourth,
as a recovery of principal of the Whole Loan or Trust Loan, as applicable, to the extent of its entire unpaid principal balance
(such principal to be applied pursuant to the Co-Lender Agreement); fifth, as a recovery of accrued and unpaid interest
on the Trust Loan to the extent of the cumulative amount of the reductions (if any) in the amount of the interest portion of the
related Monthly Payment Advances for the Trust Loan that have occurred in connection with related Appraisal Reduction Amounts
(to the extent that collections have not been applied as a recovery of accrued and unpaid interest pursuant to this clause fifth
on earlier dates) (such accrued and unpaid interest to be applied pursuant to the Co-Lender Agreement); sixth, as a
recovery of any Prepayment Fee then due and owing under the Whole Loan or Trust Loan, as applicable (such Prepayment Fee to be
applied pursuant to the Co-Lender Agreement); seventh, as a recovery of any Default Interest or late charges then deemed
to be due and owing under the Whole Loan or the Trust Loan, as applicable; eighth, as a recovery of any assumption fees,
assumption application fees, defeasance fees, consent fees, release fees, substitution fees, Modification Fees and similar fees
then due and owing under the Whole Loan or the Trust Loan, as applicable; and ninth, as a recovery of any other amounts
deemed to be due and owing in respect of the Whole Loan or the Trust Loan, as applicable.

 

(c)       Notwithstanding
anything to the contrary in the Co-Lender Agreement, but without changing any allocations under the Co-Lender Agreement between
the Trust Loan and the Companion Loans, upon liquidation of the Trust Loan, a Note related to the Trust Loan or the Foreclosed
Property, all Net Liquidation Proceeds received with respect to the Trust Loan or such Note will be applied so that amounts allocated
as a recovery of accrued and unpaid interest on the Trust Loan or such Note, as applicable, will not, for purposes of making distributions
on the Certificates, include accrued and unpaid interest on the Trust Loan that has not been advanced by the Servicer as a result
of Appraisal Reduction Amounts with respect to the Trust Loan or such Note, as applicable (“Appraisal Reduced Interest”).
After the adjusted interest amount is so allocated, any remaining Net Liquidation Proceeds received with respect to the Trust
Loan or such Note, as applicable, will be allocated to pay principal on the Trust Loan or such Note, as applicable, until the
unpaid principal amount thereof has been reduced to zero. Any remaining Net Liquidation Proceeds received with respect to the
Trust Loan or such Note, as applicable, would then be allocated to pay Appraisal Reduced Interest.

 

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(d)       All
net present value calculations and determinations made under this Agreement with respect to the Whole Loan, the Trust Loan, the
Companion Loans or the Property or the Foreclosed Property (including for purposes of the definition of “Accepted Servicing
Practices”) shall be made using a discount rate appropriate for the type of cash flows being discounted; namely (i) for
principal and interest payments on the Whole Loan, the Trust Loan or such Companion Loan or sale of the Whole Loan, the Trust
Loan or such Companion Loan if it is a defaulted loan, the highest of (1) the rate determined by the Servicer or Special Servicer,
as applicable, that approximates the market rate that would be obtainable by the Loan Borrower on similar debt of the Loan Borrower
as of such date of determination, (2) the Whole Loan Rate on the Whole Loan, Trust Loan or such Companion Loan, as the case
may be based on their respective outstanding principal balances and (3) the yield on the most recently issued 10-year U.S. treasuries
and (ii) for all other cash flows, including property cash flow, the “discount rate” set forth in the most recent
Appraisal (or update of such Appraisal).

 

Article
2

DECLARATION OF TRUST; ORIGINAL ISSUANCE OF CERTIFICATES

 

Section 2.1.     Creation
and Declaration of Trust; Conveyance of the Trust Loan. (a) The Depositor, concurrently with the execution and delivery hereof,
hereby sells, transfers, assigns, delivers, sets over, and otherwise conveys or causes to be conveyed in trust to the Trustee
for the benefit of Certificateholders, without recourse (except to the extent otherwise provided herein and in the Loan Documents),
the Depositor’s right, title and interest, whether now owned or hereafter acquired, now existing or hereafter arising, wherever
located, in and to all of the items referred to in the definition of “Trust Fund”, including without limitation (i) all
rights and remedies of the Depositor under the Loan Purchase Agreement, (ii) all right, title and interest of the Depositor
in, to and under the Reserve Accounts, (iii) all right, title and interest of the Depositor in and to the Trust Loan as of
the Closing Date and (iv) all other assets included or to be included in the Lower-Tier REMIC for the benefit of the Upper-Tier
REMIC. Such sale, transfer and assignment include any related escrow accounts and any security interest under the Trust Loan (whether
in real or personal property and whether tangible or intangible) and all related rights to payments made or required to be made
to the Depositor by the Loan Borrower or any other party under the Loan Documents relating to the Trust Loan. Such sale, transfer
and assignment further include all Loan Documents relating to the Trust Loan.

 

(b)       In
connection with such sale, transfer and assignment, the Depositor does hereby deliver to, and deposit with the Certificate Administrator
in its capacity as custodian (the “Custodian”) (with copies to the Servicer) (i) the original Note A-1,
Note A-3, Note B-1 and Note B-2 (or if any such Note has been lost, a lost note affidavit), endorsed without recourse to the order
of the Trustee in the following form: “Pay to the order of Wells Fargo Bank, National Association, solely in its capacity
as Trustee for the benefit of the Holders of the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P,
without recourse or warranty except as set forth in the Trust and Servicing Agreement dated as of December 6, 2016, among GS Mortgage
Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer,
AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate

 

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Administrator
and Trustee”, which Notes and all endorsements thereon shall show a complete chain of endorsement from the original payee(s)
to the Trustee and (ii) on or before the date occurring fifteen (15) days after the Closing Date (the “Delivery
Date”), the following documents or instruments with respect to the Trust Loan (collectively with the original Notes
required under clause (i) above, the “Mortgage File”), in each case executed by the parties thereto:

 

(A)       the
original Loan Agreement, including all amendments thereto;

 

(B)        each
original recorded counterpart of the Mortgage or certified copies of the recorded counterparts of the Mortgage;

 

(C)       the
original recorded Assignment of Mortgage, in favor of the Trustee, and each in a form that is complete and suitable for recording
in the applicable jurisdiction in which the Property is located to “Wells Fargo Bank, National Association, solely in its
capacity as Trustee for the benefit of the Holders of the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates,
Series 2016-350P”, without recourse;

 

(D)       an
original of the Environmental Indemnity;

 

(E)        an
original of the Lock Box Agreement;

 

(F)        an
original of each of the Cash Management Agreement and the Cash Management Agency Agreement;

 

(G)       where
applicable, a copy of each UCC-1 financing statement (and an original thereof shall have been sent for filing), together with
a fully executed UCC-3 financing statement, in a form that is complete and suitable for filing, disclosing the assignment from
the secured party named in such UCC-1 financing statement to the Trustee of the security interest in the personal property and
other UCC collateral constituting security for repayment of the Whole Loan;

 

(H)       the
lender’s title insurance policies obtained in connection with the origination of the Whole Loan (or marked, signed commitments
to insure or pro forma title insurance policies), together with any endorsements thereto (which may be in the form of an
electronically issued policy);

 

(I)         a
copy of the Co-Lender Agreement;

 

(J)         any
other material written agreements related to the Whole Loan or any other documents and/or certifications executed and/or delivered
by the Loan Lender, the Loan Borrower, a Sponsor or any other person or entity in connection with the closing of the Whole Loan
or any amendment thereof and any legal opinions delivered in connection with the closing of the Whole Loan;

 

(K)       a
copy of each management agreement related to the Property;

 

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(L)        all
other instruments, if any, constituting additional security for the repayment of the Whole Loan;

 

(M)      [Reserved;]

 

(N)       a
copy of any consent and subordination of management agreement; and

 

(O)       any
and all amendments, modifications and supplements to, and waivers related to, any of the foregoing.

 

If
the Depositor cannot deliver, or cause to be delivered, any of the documents and/or instruments referred to in clauses (ii)(B),
(C) and (G) of this Section 2.1(b) with evidence of filing or recording thereon (if intended to be recorded
or filed), solely because of a delay caused by the public filing or recording office where such document or instrument has been
delivered for filing or recordation, the delivery requirements of Section 2.1 shall be deemed to have been satisfied
on a provisional basis as of the Delivery Date as to such non-delivered document or instrument, and such non-delivered document
or instrument shall be deemed to have been included in the Mortgage File, if a duplicate original or a photocopy of such non-delivered
document or instrument (certified by the applicable public filing or recording office, the applicable title insurance company
or the Loan Sellers to be a true and complete copy of the original thereof submitted for filing or recording) is delivered to
the Custodian on or before the Delivery Date, and either the original of such non-delivered document or instrument, or a photocopy
thereof (certified by the appropriate county recorder’s office, in the case of the documents and/or instruments referred
to in clause (ii)(B), (C) and (G) of this Section 2.1 (b) to be a true and complete copy of
the original thereof submitted for recording), with evidence of filing or recording thereon, is delivered to the Custodian within
180 days of the Closing Date (or within such longer period, not to exceed eighteen (18) months, after the Closing Date as
the Custodian shall consent to, so long as the Depositor is, as certified in writing to the Custodian no less often than every
ninety (90) days, attempting in good faith to obtain from the appropriate public filing office or county recorder’s office
such original or photocopy).

 

The
Depositor shall cause the Loan Sellers to provide the Servicer a copy of the Mortgage File on or prior to the Closing Date and
promptly following the Closing Date, at its own expense, with copies of all such other documents in its possession constituting
part of the Mortgage File.

 

In
addition, the Depositor shall deliver or cause to be delivered to the Servicer for its review, all required insurance policies
or certificates issued by the insurers showing such insurance to be in effect on the Closing Date, together with proof of payment
of premiums relating thereto (which may consist of such policies or certificates).

 

Each
Assignment of the Mortgage, assignment of a Collateral Security Document (to the extent such documents are required to be recorded
or filed) and UCC-3 financing statements to be filed in the appropriate public recording office for real property records or UCC
financing statements shall be filed or recorded, as applicable, by the Loan Sellers or their designee, with instructions to return
all such recorded documents, or other evidences of filing

 

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issued
by the applicable governmental offices, to the Certificate Administrator at its custody office at 1055 10th Avenue
Southeast, Minneapolis, Minnesota 55414, with a copy to the Servicer. In the event that any such document is determined to be
defective or not to be in compliance with the requirements of the applicable filing office or recording depository, or if any
such document is lost or returned unrecorded because of a defect therein, the applicable Loan Seller or its designee shall, upon
receipt of the Custodian’s exception report, prepare a substitute document. The applicable Loan Seller or its designee shall
file or record (or cause to be filed or recorded) such substitute document upon its receipt thereof in the appropriate filing
offices or record depositories. Notwithstanding anything to the contrary contained in this Section 2.1(b), in those
instances where the public recording office retains the original Mortgage, Assignment of Mortgage or assignment of a Collateral
Security Document, if applicable, after any has been recorded, the obligations of the Depositor hereunder and the obligations
of the Loan Sellers under the Loan Purchase Agreement shall be deemed to have been satisfied upon delivery to the Custodian of
a copy of such Mortgage, Assignment of Mortgage or assignment of a Collateral Security Document, if applicable, certified by the
public recording office to be a true and complete copy of the recorded original thereof.

 

The
ownership of the Notes, the Mortgage, the Collateral Security Documents and all other contents of the Mortgage File shall be vested
in the Trust or the Trustee in trust for the benefit of the Certificateholders and, other than the Notes related to the Trust
Loan, the Companion Loan Holders. The Depositor, the Certificate Administrator, the Servicer and the Special Servicer agree to
take no action inconsistent with the Trustee’s ownership of the Trust Loan and to promptly indicate to all inquiring parties
that the Trust Loan has been sold and to claim no ownership interest in the Trust Loan. All original documents relating to the
Trust Loan that are not delivered to the Custodian are and shall be held by the Depositor, the Servicer or the Special Servicer,
as the case may be, in trust for the benefit of the Certificateholders. In the event that any such original document is required
pursuant to the terms of this Section 2.1(b) to be a part of a Mortgage File, such document shall be delivered promptly
to the Custodian.

 

The
conveyance of the Trust Loan and the related rights and property accomplished hereby is absolute and is intended by the Depositor
to constitute an absolute sale and transfer of the Trust Loan and such other related rights and property by the Depositor to the
Trustee in trust for the benefit of the Certificateholders (and, as set forth herein, the Companion Loan Holders), in exchange
for the Certificates being sold by the Depositor. Furthermore, it is not intended that such conveyance be a pledge of security
for the Trust Loan. If such conveyance is determined to be a pledge of security for the Trust Loan, however, the Depositor and
the Trustee intend that the rights and obligations of the parties to the Trust Loan shall be established pursuant to the terms
of this Agreement. The Depositor and the Trustee also intend and agree that, in such event, (i) this Agreement shall constitute
a security agreement under applicable law, (ii) the Depositor shall be deemed to have granted to the Trustee (in such capacity)
a first priority security interest in all of the Depositor’s right, title and interest in and to the assets constituting
the Trust Fund, including the Trust Loan subject hereto from time to time, all amounts received on or with respect to the Trust
Loan after the Closing Date, all amounts held from time to time in the Collection Account, the Distribution Account, and, if established,
the Foreclosed Property Account, and all of the Depositor’s right, title and interest under the Loan Purchase Agreement,
(iii) the possession by the Custodian or its agent of the Notes with respect to the Trust Loan subject hereto from time to
time and such other items of property as

 

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constitute
instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party”
or possession by a purchaser or person designated by such secured party for the purpose of perfecting such security interest under
applicable law, and (iv) notifications to, and acknowledgments, receipts or confirmations from, Persons holding such property,
shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, securities intermediaries, bailees
or agents (as applicable) of the Trustee for the purpose of perfecting such security interest under applicable law.

 

Section 2.2.     Acceptance
by the Trustee and the Certificate Administrator. (a) By its execution and delivery of this Agreement, the Trustee acknowledges
the assignment to it of the Trust Loan in good faith without notice of adverse claims and the Certificate Administrator declares
that, in its capacity as Custodian, it holds and will hold or will cause to be held such documents as are delivered to it constituting
the Mortgage File (to the extent the documents constituting the Mortgage File are actually delivered to it) in trust, upon the
conditions herein set forth, for the use and benefit of all present and future Certificateholders and the Companion Loan Holders.

 

(b)       The
execution and delivery of this Agreement by the Certificate Administrator shall constitute certification by the Certificate Administrator,
in its capacity as Custodian, that (i) the original Note A-1, Note A-3, Note B-1 and Note B-2 as specified in clause (b)(i) of
the definition of “Mortgage File” and all allonges thereto, if any, have been received by the Custodian; and (ii) such
original Notes have been reviewed by the Custodian and (A) appear regular on their face (handwritten additions, changes or
corrections shall not constitute irregularities if initialed by the Loan Borrower), (B) appear to have been executed and
(C) purport to relate to the Trust Loan. The Custodian agrees to review or cause to be reviewed the Mortgage File within
30 days after the Closing Date, and to deliver to the Depositor, the Loan Sellers, the Trustee, the Servicer and the Special
Servicer a report certifying, subject to any exceptions found by it in such review, that (A) all documents referred to in
Section 2.1(b) have been received, and (B) all documents have been executed, appear on their face to be what
they purport to be, purport to be recorded or filed (as applicable) and have not been torn, mutilated or otherwise defaced, and
appear on their faces to relate to the Trust Loan. The Custodian shall have no responsibility for reviewing the Mortgage File
except as expressly set forth in this Section 2.2(b). The Custodian shall be under no duty or obligation to inspect,
review, or examine any such documents, instruments or certificates to independently determine that they are valid, genuine, enforceable,
legally sufficient, duly authorized, or appropriate for the represented purpose, whether the text of any assignment or endorsement
is in proper or recordable form (except to determine if the endorsement conforms to the requirements of Section 2.1(b)),
whether any document has been recorded in accordance with the requirements of any applicable jurisdiction, to independently determine
that any document has actually been filed or recorded in the appropriate office, that any document is other than what it purports
to be on its face, or whether the title insurance policies relate to the Property.

 

(c)       Upon
the first anniversary of the Closing Date, the Custodian shall (i) deliver to the Depositor, the Trustee, the Loan Sellers,
the Loan Borrower, the Servicer and the Special Servicer a final exception report as to any remaining documents that are not in
the Mortgage File and (ii) request that the Loan Sellers cause such document deficiency to be cured.

 

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Section 2.3.     Representations
and Warranties of the Trustee. (a)  The Trustee hereby represents and warrants to the other parties hereto that
as of the Closing Date:

 

(i)        the
Trustee is a national banking association, duly organized, validly existing, and is in good standing under the laws of the United
States of America; the Trustee possesses and shall continue to possess all requisite authority, power, licenses, permits, franchise
and approvals to conduct its business and to execute, deliver and comply with its obligations under this Agreement;

 

(ii)       the
execution and delivery of this Agreement by the Trustee and its performance and compliance with the terms of this Agreement will
not violate the Trustee’s articles of association or constitute a default (or an event which, with notice or lapse of time,
or both, would constitute a default) under, or result in the breach of, any material contract, agreement or other instrument to
which the Trustee is a party or which may be applicable to the Trustee or any of its assets, which default or breach of such material
contract, agreement or other instrument would have a material adverse effect on the Trustee’s performance of its obligations
hereunder;

 

(iii)      except
to the extent that the laws of any jurisdiction in which a part of the Trust Fund may be located require that a co-trustee or
separate trustee be appointed to act with respect to such property as contemplated by Section 8.10, the Trustee has
the full power and authority to enter into and consummate the transactions contemplated by this Agreement, has duly authorized
the execution, delivery and performance of this Agreement, and has duly executed and delivered this Agreement;

 

(iv)      this
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid and binding obligation
of the Trustee, enforceable against it in accordance with the terms of this Agreement, except as such enforcement may be limited
by bankruptcy, insolvency, conservatorship, reorganization, receivership, moratorium or other laws relating to or affecting the
rights of creditors generally and by general principles of equity (regardless of whether such enforcement is considered in a proceeding
in equity or at law);

 

(v)       the
Trustee, to its actual knowledge, is not in violation of, and the execution and delivery of this Agreement by the Trustee and
its performance and compliance with the terms of this Agreement will not constitute a violation with respect to, any order or
decree of any court or any order, law or regulation of any federal, state, municipal or governmental agency of or in the United
States of America having jurisdiction, which violation would have consequences that would materially and adversely affect the
condition (financial or other) or operations of the Trustee or that would materially affect the performance of its duties hereunder
or thereunder;

 

(vi)      no
consent, approval, authorization or order of, or registration of filing with, or notice to any court, governmental or regulatory
agency or body, is required for the execution, delivery and performance by the Trustee of this Agreement or if required, such
approval has been obtained prior to the Closing Date;

 

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(vii)     to
the best of the Trustee’s knowledge, no litigation is pending or threatened against the Trustee which would prohibit its
entering into or materially and adversely affect its ability to perform its obligations under this Agreement; and

 

(viii)    the
Trustee is covered by errors and omissions insurance coverage which is in full force and effect or otherwise complies with the
requirements of Section 8.6(b).

 

(b)      The
respective representations and warranties of the Trustee set forth in this Section 2.3 shall survive until the termination
of this Agreement, and shall inure to the benefit of the other parties hereto.

 

Section 2.4.     Representations
and Warranties of the Servicer. 

 

(a)       Midland
Loan Services, a Division of PNC Bank, National Association, as the Servicer, hereby represents and warrants to the other parties
hereto that as of the Closing Date:

 

(i)        it
is a national banking association, duly organized, validly existing, and in good standing under the laws of the United States
of America; it is, and throughout the term of this Agreement shall remain, duly authorized and qualified to transact business
in the jurisdiction where the Property is located to the extent required by applicable law and necessary to ensure the enforceability
of the Trust Loan and the Companion Loans in accordance with the terms thereof and hereof; it possesses and shall continue to
possess all requisite authority, power, licenses, permits, franchise, and approvals to conduct its business and to execute, deliver,
and comply with its obligations under this Agreement;

 

(ii)       the
execution and delivery of this Agreement and its performance of and compliance with the terms hereof in the manner contemplated
by this Agreement will not violate its articles of association or by-laws, or any other material instrument governing its operations,
or any laws, regulations, orders or decrees of any governmental authority applicable to it and will not constitute a default (or
any event which, with notice or lapse of time or both, would constitute a default) under any material contract, agreement, or
other instrument to which it is a party or which may be applicable to any of its assets, which violation or default would have
consequences that would materially and adversely affect its financial condition or its ability to perform its obligations hereunder;

 

(iii)      this
Agreement constitutes its valid, legal, and binding obligation enforceable against it in accordance with its terms, subject to
bankruptcy laws and other similar laws of general application affecting rights of creditors and subject to the application of
the rules of equity, including those respecting the availability of specific performance;

 

(iv)      it
has the full power and authority to enter into and consummate the transactions contemplated by this Agreement; this Agreement
has been duly executed and delivered by it;

 

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(v)       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 it have been obtained or made;

 

(vi)      there
is no pending action, suit or proceeding, arbitration or governmental investigation against it, the outcome of which, in its reasonable
judgment, could reasonably be expected to prohibit it from entering into this Agreement or materially and adversely affect its
ability to perform its obligations under this Agreement; and

 

(vii)     it
has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the requirements
of Section 3.11(d).

 

(b)      The
representations and warranties of the Servicer set forth in this Section 2.4 shall survive until termination of this
Agreement, and shall inure to the benefit of the parties hereto.

 

Section 2.5.     Representations
and Warranties of the Special Servicer. (a) AEGON USA Realty Advisors, LLC, as the
Special Servicer, hereby represents and warrants to the other parties hereto that as of the Closing Date:

 

(i)        it
is an Iowa limited liability company, duly organized, validly existing, and in good standing under the laws of the State of Iowa;
it is, and throughout the term of this Agreement shall remain, duly authorized and qualified to transact business in the jurisdiction
where the Property is located to the extent required by applicable law and necessary to ensure the enforceability of the Trust
Loan and the Companion Loans in accordance with the terms thereof and hereof; it possesses and shall continue to possess all requisite
authority, power, licenses, permits, franchise, and approvals to conduct its business and to execute, deliver, and comply with
its obligations under this Agreement;

 

(ii)       the
execution and delivery of this Agreement and its performance of and compliance with the terms hereof in the manner contemplated
by this Agreement will not violate its articles of association or by-laws, or any other material instrument governing its operations,
or any laws, regulations, orders or decrees of any governmental authority applicable to it and will not constitute a default (or
any event which, with notice or lapse of time or both, would constitute a default) under any material contract, agreement, or
other instrument to which it is a party or which may be applicable to any of its assets, which violation or default would have
consequences that would materially and adversely affect its financial condition or its ability to perform its obligations hereunder;

 

(iii)      this
Agreement constitutes its valid, legal, and binding obligation enforceable against it in accordance with its terms, subject to
bankruptcy laws and other similar laws of general application affecting rights of creditors and subject to the application of
the rules of equity, including those respecting the availability of specific performance;

 

(iv)      it
has the full power and authority to enter into and consummate the transactions contemplated by this Agreement; this Agreement
has been duly executed and delivered by it;

 

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(v)   
   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 it have been obtained or made;

 

(vi)      there
is no pending action, suit or proceeding, arbitration or governmental investigation against it, the outcome of which, in its reasonable
judgment, could reasonably be expected to prohibit it from entering into this Agreement or materially and adversely affect its
ability to perform its obligations under this Agreement; and

 

(vii)     it
has errors and omissions insurance and fidelity bond coverage which is in full force and effect and complies with the requirements
of Section 3.11(d).

 

(b)      The
representations and warranties of the Special Servicer set forth in this Section 2.5 shall survive until termination
of this Agreement, and shall inure to the benefit of the parties hereto.

 

Section 2.6.     Representations
and Warranties of the Depositor. (a)  The Depositor hereby represents and warrants to the other parties hereto that
as of the Closing Date:

 

(i)   
    the Depositor is a corporation, duly organized, validly existing and in good standing under the laws of
the State of Delaware, with full power and authority to own its property, to carry on its business as presently conducted, to
enter into and perform its obligations under this Agreement, and to create the trust pursuant hereto;

 

(ii)       the
execution, delivery and performance of this Agreement by the Depositor have been duly authorized by all necessary corporate action
on the part of the Depositor; neither the execution, delivery and performance of this Agreement, nor the consummation of the transactions
herein contemplated, nor the compliance with the provisions hereof, will conflict with or result in a breach of, or constitute
a default under (A) any of the provisions of any law, rule, regulation, judgment, decree or order binding on the Depositor,
(B) the organizational documents of the Depositor, or (C) the terms of any indenture or other agreement or instrument
to which the Depositor is a party or by which it is bound or any statute, order or regulation of any court, regulatory body, administrative
agency or governmental body having jurisdiction over it;

 

(iii)      the
execution, delivery and performance by the Depositor of this Agreement and the consummation of the transactions contemplated hereby
and thereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of any other
action in respect of, any state, federal or other governmental authority or agency, except such as has been obtained, given, effected
or taken prior to the date hereof;

 

(iv)      this
Agreement has been duly executed and delivered by the Depositor and, assuming due authorization, execution and delivery by the
other parties hereto, constitutes a valid and binding obligation of the Depositor enforceable against it in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other
similar laws relating to or

 

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affecting
the rights of creditors generally, and by general equity principles (regardless of whether such enforcement is considered in a
proceeding in equity or at law);

 

(v)       there
are no actions, suits or proceedings pending or, to the best of the Depositor’s knowledge, threatened or likely to be asserted
against or affecting the Depositor, before or by any court, administrative agency, arbitrator or governmental body (A) with
respect to any of the transactions contemplated by this Agreement or (B) with respect to any other matter which in the judgment
of the Depositor will be determined adversely to the Depositor and will, if determined adversely to the Depositor, materially
and adversely affect its ability to perform its obligations under this Agreement;

 

(vi)      the
Depositor is not in default with respect to any order or decree of any court or any order, regulation or demand of any federal,
state, municipal or governmental agency, which default would materially and adversely affect the ability of the Depositor to perform
its obligations hereunder;

 

(vii)     other
than the actions taken pursuant to this Agreement, the Depositor has taken no action to impair or encumber the title to the Trust
Loan or to subject it to any offsets, defenses or counterclaims during the Depositor’s ownership thereof;

 

(viii)    the
Depositor is accounting for the transfer of the Trust Loan as a sale under generally accepted accounting principles and, for federal
income tax purposes;

 

(ix)       the
Depositor is not, and, after giving effect to the transfers contemplated under this Agreement, will not be, insolvent; and

 

(x)        the
Depositor has not transferred the Trust Loan with an intent to hinder, delay or defraud its creditors.

 

(b)      The
representations and warranties of the Depositor set forth in this Section 2.6 shall survive until termination of this Agreement,
and shall inure to the benefit of the Certificateholders, the Certificate Administrator, the Trustee, the Servicer and the Special
Servicer.

 

(c)       Neither
the Depositor nor any of its Affiliates shall insure or guarantee distributions on the Certificates. Subject to Section 2.6(a)
and (b), neither the Certificateholders nor the Trustee or the Certificate Administrator on their behalf shall have
any rights or remedies against the Depositor for any losses or other claims in connection with the Certificates or the Trust Loan
except as expressly set forth herein.

 

Section 2.7.     Representations
and Warranties of the Certificate Administrator. (a)  The
Certificate Administrator hereby represents and warrants to the other parties hereto that as of the Closing Date:

 

(i)        it
is a national banking association duly organized, validly existing, and in good standing under the laws of the United States of
America; the Certificate Administrator possesses and shall continue to possess all requisite authority, power,

 

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licenses,
permits, franchise and approvals to conduct its business and to execute, deliver and comply with its obligations under this Agreement;

 

(ii)       the
execution and delivery of this Agreement by the Certificate Administrator and its performance and compliance with the terms of
this Agreement will not violate the Certificate Administrator’s articles of association or constitute a default (or an event
which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material contract,
agreement or other instrument to which it is a party or which may be applicable to the Certificate Administrator or any of its
assets, which default or breach of such material contract, agreement or other instrument would have a material adverse effect
on the Certificate Administrator’s performance of its obligations hereunder;

 

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

 

(iv)      this
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid and binding obligation
of the Certificate Administrator, enforceable against it in accordance with the terms of this Agreement, except as such enforcement
may be limited by bankruptcy, insolvency, conservatorship, reorganization, receivership, moratorium or other laws relating to
or affecting the rights of creditors generally and by general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law);

 

(v)       the
Certificate Administrator, to its actual knowledge, is not in violation of, and the execution and delivery of this Agreement by
the Certificate Administrator and its performance and compliance with the terms of this Agreement will not constitute a violation
with respect to, any order or decree of any court or any order, law or regulation of any federal, state, municipal or governmental
agency of or in the United States of America having jurisdiction, which violation would have consequences that would materially
and adversely affect the condition (financial or other) or operations of the Certificate Administrator or that would materially
affect the performance of its duties hereunder or thereunder;

 

(vi)      no
consent, approval, authorization or order of, or registration of filing with, or notice to any court, governmental or regulatory
agency or body, is required for the execution, delivery and performance by the Certificate Administrator of this Agreement or
if required, such approval has been obtained prior to the Closing Date;

 

(vii)     to
the best of the Certificate Administrator’s knowledge, no litigation is pending or threatened against the Certificate Administrator
which would prohibit its entering into or materially and adversely affect its ability to perform its obligations under this Agreement;
and

 

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(viii)    the
Certificate Administrator is covered by errors and omissions insurance coverage which is in full force and effect or otherwise
complies with the requirements of Section 8.6(b).

 

(b)      The
respective representations and warranties of the Certificate Administrator set forth in this Section 2.7 shall survive
until the termination of this Agreement, and shall inure to the benefit of the other parties hereto.

 

Section 2.8.     Representations
and Warranties Contained in the Loan Purchase Agreement. (a)
If (i) any party hereto (A) discovers or receives notice alleging that any document required to be delivered to the
Certificate Administrator pursuant to Section 2.1 is not delivered as and when required, is not properly executed
or is defective (each, a “Defect”) or (B) discovers or receives notice alleging a breach of any representation
or warranty made by the Loan Sellers relating to the Trust Loan as set forth in Exhibit A to the Loan Purchase Agreement
(a “Breach”) or (ii) the Special Servicer or the Depositor receives a Repurchase Communication of a request
or demand for repurchase of the Trust Loan alleging a Defect or Breach (any such request or demand, a “Repurchase Request”),
then such party shall give prompt written notice of such Defect, Breach or Repurchase Request to the Loan Sellers, the Companion
Loan Holders, the Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event),
the other parties hereto and, subject to Section 10.17, each of the Rating Agencies (to the extent notice has not previously
been delivered to such Persons pursuant to this sentence). The Special Servicer shall determine if any such Defect or Breach materially
and adversely affects the value of the Trust Loan or the interests of the Certificateholders therein or causes the Trust Loan
to fail to be a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but without regard
to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats a defective obligation as a qualified mortgage, or
any substantially similar successor provision) (any such Defect or Breach, a “Material Document Defect” and
a “Material Breach,” respectively). If such Defect or Breach has been determined to be a Material Document
Defect or Material Breach, then the Special Servicer shall give prompt written notice thereof to the Loan Sellers, the other parties
hereto and subject to Section 10.17, to the Rating Agencies. If such determination is that the Defect or the Breach is
a Material Document Defect or a Material Breach, the Special Servicer shall (A) request that the applicable Loan Seller (i) repurchase
its Loan Seller Percentage Interest in the Trust Loan at an amount equal to its Loan Seller Percentage Interest of the Repurchase
Price, (ii) promptly cure such Material Document Defect or Material Breach, as the case may be, in each case in accordance
with the terms of the Loan Purchase Agreement or (iii) indemnify the Trust for its Loan Seller Percentage Interest of the
losses directly related to such Material Breach or Material Defect, subject to receipt of a Rating Agency Confirmation from each
Rating Agency with respect to such action and (B) give prompt written notice thereof to the Controlling Class Representative (prior
to the occurrence and continuance of a Consultation Termination Event); provided that with respect to any Material Breach
or Material Document Defect that would cause the Trust Loan not to be a “qualified mortgage” within the meaning of
Section 860G(a)(3) of the Code, the applicable Loan Seller will be required to cure such Material Document Defect or Material
Breach or to repurchase its Loan Seller Percentage Interest in the Trust Loan at a price equal to the related Loan Seller Percentage
Interest of the Repurchase Price within ninety (90) days of the date of discovery of such Material Document Defect or Material
Breach. If a Responsible Officer of the Certificate Administrator or a Servicing Officer of the Servicer or the Special

 

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Servicer,
has actual knowledge that either Loan Seller has defaulted on its obligation to repurchase its Loan Seller Percentage Interest
in the Trust Loan under the Loan Purchase Agreement, such entity shall promptly notify the Trustee, the Certificate Administrator,
the Servicer and the Special Servicer, as applicable, and the Certificate Administrator shall notify the Certificateholders of
such default. The Special Servicer shall enforce the obligations of the Loan Sellers under Section 8 of the Loan Purchase
Agreement. Such enforcement, including, without limitation, the legal prosecution of claims, shall be carried out in such form,
to such extent and at such time as if it were, in its individual capacity, the owner of the Trust Loan. The Special Servicer shall
be reimbursed for the reasonable costs of such enforcement (it being understood that a Liquidation Fee shall be payable to the
Special Servicer as and only to the extent provided herein): first, from a specific recovery of costs, expenses
or attorneys’ fees against the applicable Loan Seller(s); second, out of the Repurchase Price, to the extent that
such expenses are a specific component thereof; and third, if at the conclusion of such enforcement action it is determined
that the amounts described in clauses first and second are insufficient, then pursuant to clause (xi) of
Section 3.4(c) out of collections on the Trust Loan on deposit in the Collection Account.

 

If
the Special Servicer or the Depositor receives a Repurchase Communication of a withdrawal of a Repurchase Request of which notice
has been previously received or given and which withdrawal is by the Person making such Repurchase Request (a “Repurchase
Request Withdrawal”), such party shall give written notice of such Repurchase Request Withdrawal to the Loan Sellers,
the Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event), the other
parties hereto and, subject to Section 10.17 of this Agreement, each of the Rating Agencies (to the extent notice
has not previously been delivered to such Persons pursuant to this sentence).

 

Each
notice of a Repurchase Request or Repurchase Request Withdrawal required to be given by a party pursuant to this Section 2.8(a)
(each, a “15Ga-1 Notice”) shall be given no later than the tenth (10th) Business Day after receipt of a
Repurchase Communication of such Repurchase Request or receipt of a Repurchase Communication of such Repurchase Request Withdrawal,
and shall include (i) the identity of the portion of the Trust Loan, (ii) the date such Repurchase Request was received
or the date such Repurchase Request Withdrawal was received, as applicable, (iii) if known, the basis for the Repurchase
Request (as asserted in the Repurchase Request) and (iv) in the case of 15Ga-1 Notices provided by the Special Servicer,
a statement as to whether the Special Servicer currently plans to pursue such Repurchase Request.

 

In
the event that the Certificate Administrator, the Trustee or the Servicer receives a Repurchase Communication of a Repurchase
Request or Repurchase Request Withdrawal, such party shall promptly forward such Repurchase Request or Repurchase Request Withdrawal
to the Special Servicer and, prior to the occurrence and continuance of a Consultation Termination Event, the Controlling Class
Representative, and include the following statement in the related correspondence: “This is a “Repurchase Request”
or a “Repurchase Request Withdrawal” under Section 2.8(a) of the Trust and Servicing Agreement relating
to the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P, requiring action by you as the recipient
of such Repurchase Request or Repurchase Request Withdrawal thereunder”. Upon receipt of such Repurchase Request or Repurchase
Request Withdrawal by the Special Servicer, the Special Servicer shall be deemed to be the recipient of such Repurchase Request
or

 

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Repurchase
Request Withdrawal, and the Special Servicer shall comply with the notice procedures set forth in this Section 2.8(a)
with respect to such Repurchase Request or Repurchase Request Withdrawal.

 

No
Person that is required to provide a 15Ga-1 Notice pursuant to this Section 2.8(a) (a “15Ga-1 Notice Provider”)
shall be required to provide any information in a 15Ga-1 Notice that is protected by the attorney-client privilege or the attorney
work product doctrine. The Loan Purchase Agreement will provide that (i) any 15Ga-1 Notice provided pursuant to this Section 2.8(a)
is so provided only to assist the Loan Sellers, the Depositor and their respective Affiliates to comply with Rule 15Ga-1
under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii)(A) no
action taken by, or inaction of, a 15Ga-1 Notice Provider and (B) no information provided pursuant to this Section 2.8(a)
by a 15Ga-1 Notice Provider in a 15Ga-1 Notice shall be deemed to constitute a waiver or defense to the exercise of any legal
right that such 15Ga-1 Notice Provider may have with respect to the Loan Purchase Agreement, including with respect to any Repurchase
Request that is the subject of a 15Ga-1 Notice.

 

(b)       Upon
receipt by the Servicer from either Loan Seller of its Loan Seller Percentage Interest in the Repurchase Price for its respective
Loan Seller Percentage Interest in the Trust Loan, the Servicer, shall deposit such amount in the Collection Account, and the
Certificate Administrator shall, upon receipt of a certificate of a Servicing Officer certifying as to the receipt by the Servicer
of the Repurchase Price and the deposit of the Repurchase Price into the Collection Account pursuant to this Section 2.8(b),
(i) release or cause to be released to the designee of each Loan Seller the Repurchase Mortgage File and the Trustee and
the Certificate Administrator shall execute and deliver such instruments of transfer or assignment, in each case without recourse,
representation or warranty (except that the Trust Loan is owned by the Trust and is being sold free and clear of liens and encumbrances),
as shall be prepared by such designee to vest in such designee the Trust Loan released pursuant hereto and the Certificate Administrator,
the Trustee, the Servicer and the Special Servicer shall have no further responsibility with regard such Repurchase Mortgage File
and (ii) release or cause to be released to each Loan Seller any escrow payments and reserve funds held by the Trustee, or
on the Trustee’s behalf, in respect of such Loan Seller Percentage Interest in the Trust Loan.

 

(c)       Notwithstanding
anything to the contrary herein, no Defect (except for a Defect with respect to the document described in clause (i) of
Section 2.1(b) and the documents described in clauses (ii)(B), (C) and (H) of Section 2.1(b))
shall be considered to be a Material Document Defect unless the document with respect to which a Defect exists is required in
connection with (A) an imminent enforcement of the Loan Lender’s rights or remedies under the Trust Loan; (B) defending
any claim asserted by the Loan Borrower or third party with respect to the Trust Loan; (C) establishing the validity or priority
of any lien on any collateral securing the Trust Loan; or (D) any immediate significant servicing obligations, including
without limitation, making a claim under a title policy. The Trust’s sole remedy against the Loan Sellers in connection
with a Material Document Defect shall be to enforce the repurchase claim in accordance with the provisions of the Loan Purchase
Agreement.

 

(d)       To
the extent that any of the Loan Sellers do not repurchase their Loan Seller Percentage Interests in the Trust Loan pursuant to
the terms of the Loan Purchase

 

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Agreement,
(i) the Trust Loan shall continue to be serviced by the Servicer and, if applicable, the Special Servicer, in accordance with
the terms of this Agreement on behalf of such repurchasing Loan Seller and the Certificateholders as a collective whole, and the
Servicer or the Special Servicer, as applicable, shall be the sole representative of the Loan Lender in connection with any enforcement,
bankruptcy or other proceeding, (ii) the Trustee shall remain the mortgagee of record with respect to the Mortgage, (iii) the
Certificate Administrator Fee, Servicing Fee, Special Servicing Fee and/or the CREFC® Intellectual Property Royalty
License Fee with respect to the Trust Loan shall continue to be calculated based on the entire principal amount of the Trust Loan,
(iv) the Custodian shall retain all portions of the Mortgage File other than the related Note corresponding to the repurchased
Loan Seller’s Loan Seller Percentage Interest, (v) the repurchasing Loan Seller shall be entitled to remittances on the
Distribution Date of its pro rata share, based upon its Loan Seller Percentage Interest, of all amounts that would otherwise
be available for distribution on such Distribution Date pursuant to Article IV hereof to Certificateholders (other than
any amounts in respect of any Monthly Payment Advance) with respect to the Trust Loan and such amounts shall be wired in accordance
with the directions provided to the Trustee and the Servicer by such Loan Seller at least 10 Business Days prior to the related
Distribution Date, (vi) the repurchasing Loan Seller shall be entitled to receive any and all reports and have access to any and
all information that a Certificateholder would otherwise have under the terms of this Agreement, (vii) no amendment may be made
to this Agreement that would materially and adversely affect the rights of such repurchasing Loan Seller in respect of the repurchasing
Loan Seller’s Loan Seller Percentage Interest without the consent of such repurchasing Loan Seller, (viii) to the extent
the Trustee holds record or legal title to any Mortgage File document that relates to any Loan Seller’s Loan Seller Percentage
Interest in the Trust Loan repurchased pursuant to this Section 2.8(d), the Trustee shall hold such title in trust for
the use and benefit of the Trust and the related Loan Seller collectively, and (ix) to the extent this Agreement refers to the
“Mortgage File,” such “Mortgage File” shall be construed to mean the Mortgage File for the entire Trust
Loan (except that references to any Note in favor of the repurchasing Loan Seller shall be construed to instead refer to a photocopy
of such Note). Neither the Servicer nor the Trustee shall make any Monthly Payment Advance with respect to any Loan Seller’s
Loan Seller Percentage Interest of the Trust Loan which has been repurchased as described herein.

 

Section 2.9.     Execution
and Delivery of Certificates; Issuance of Uncertificated Lower-Tier Interests. The Trustee acknowledges the assignment in
trust by the Depositor to the Trustee of the Notes and other assets comprising the Trust Fund. Concurrently with such assignment
and delivery and in exchange therefor, (i) the Certificate Administrator acknowledges the issuance of (x) the Uncertificated
Lower-Tier Interests to the Depositor and (y) the Class LT-R Interest, in exchange for the Trust Loan, receipt of which is
hereby acknowledged, (ii) immediately thereafter, the Certificate Administrator acknowledges (x) the assignment by the Depositor
to the Trustee of the Uncertificated Lower-Tier Interests, and in exchange therefor that it (y) has executed and has authenticated
and delivered to or upon the order of the Depositor, the Regular Certificates and has issued the Class UT-R Interest, and (z) has
executed and has authenticated and delivered to or upon the order of the Depositor, the Class R Certificates, representing
the Class LT-R and Class UT-R Interests, and (iii) the Depositor hereby acknowledges the receipt by it or its designees,
of the Regular Certificates in authorized denominations and the Class UT-R Interest evidencing the entire beneficial ownership
of the Upper-Tier REMIC.

 

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Section 2.10.     Miscellaneous
REMIC Provisions. (a)  The
Class A, Class X-A, Class B, Class C, Class D and Class E Certificates are hereby designated as the “regular
interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code. The Class UT-R Interest, represented
by the Class R Certificates, is hereby designated as the sole class of “residual interests” in the Upper-Tier
REMIC within the meaning of Section 860G(a)(2) of the Code.

 

(b)       The
Class LA, Class LB, Class LC, Class LD and Class LE Uncertificated Interests are hereby designated as the “regular interests”
in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LT-R Interest, represented
by the Class R Certificates, is hereby designated as the sole class of “residual interests” in the Lower-Tier
REMIC within the meaning of Section 860G(a)(2) of the Code.

 

Article
3

ADMINISTRATION AND SERVICING OF THE MORTGAGE LOAN

 

Section 3.1.     Servicer
to Act as the Servicer; Special Servicer to Act as the Special Servicer. The Servicer (other than during the continuance of
a Special Servicing Loan Event) and the Special Servicer (during the continuance of a Special Servicing Loan Event), each as an
independent contractor, shall service and administer the Whole Loan and administer Foreclosed Property solely on behalf of the
Trust Fund, in the best interest of, and for the benefit of, the Certificateholders and the Companion Loan Holders as a collective
whole as if such Certificateholders and Companion Loan Holders constituted one lender (taking into account that the B Notes are
junior to the A Notes) (as determined by the Servicer or the Special Servicer, as applicable, in the exercise of its good faith
and reasonable judgment), in accordance with applicable law (including the REMIC Provisions), the terms of this Agreement, the
Co-Lender Agreement and the Loan Documents and, to the extent consistent with the foregoing, the following standards: (i) the
higher of (a) the same manner in which and with the same care, skill, prudence and diligence with which the Servicer or the
Special Servicer, as applicable, services and administers similar loans and administers foreclosed properties for other third-party
portfolios, giving due consideration to customary and usual standards of practice of prudent institutional commercial mortgage
lenders in servicing their own loans and administering their own foreclosed properties, or (b) with the care, skill, prudence
and diligence the Servicer or the Special Servicer, as applicable, uses for loans which it owns or for foreclosed properties it
owns and administers; (ii) with a view to the timely collection of (a) all scheduled payments of principal and interest
under the Whole Loan or, with respect to the Special Servicer, if the Whole Loan comes into and continues in default and if no
satisfactory arrangements can be made for the collection of the delinquent payments, the maximization of the recovery on the Whole
Loan to the Certificateholders and the Companion Loan Holders (as a collective whole as if the Certificateholders and the Companion
Loan Holders constituted a single lender) (taking into account that the B Notes are junior to the A Notes) on a net present value
basis and (b) the Loan Borrower Reimbursable Trust Fund Expenses and other amounts due under the Whole Loan and (iii) without
regard to:

 

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(A)       any
relationship that the Servicer or the Special Servicer or any affiliate thereof may have with the Loan Borrower, the Loan Sellers,
the Depositor, any Companion Loan Holders or any of their respective affiliates;

 

(B)        the
ownership of any Certificate (or Companion Loan) or any interest in any Companion Loan or any mezzanine loan related to the Trust
Loan by the Servicer or Special Servicer or by any affiliate of the Servicer or the Special Servicer;

 

(C)       in
the case of the Servicer, its obligation to make Advances;

 

(D)       the
right of the Servicer or the Special Servicer or any affiliate thereof to receive reimbursement of costs, compensation or other
fees (other than Advances), or the sufficiency of any compensation payable to it under this Agreement or with respect to any particular
transaction; or

 

(E)        the
ownership, servicing or management for others of any other loans or property by the Servicer or the Special Servicer.

 

Subject
to the above-described servicing standards (hereinafter referred to as “Accepted Servicing Practices”) and
the terms of this Agreement and of the Loan Documents, the Servicer and the Special Servicer each shall have full power and authority,
acting alone and/or through one or more sub-servicers as provided in Section 3.2, to do or cause to be done any and
all things in connection with such servicing and administration which it may deem necessary or desirable. The Servicer and the
Special Servicer shall service and administer the Trust Loan and the Companion Loan in accordance with applicable state and federal
law. At the written request of the Servicer or the Special Servicer, as applicable, accompanied by the form of power of attorney
or other documents being requested, the Trustee shall furnish to the Servicer or the Special Servicer any powers of attorney (substantially
in the form of Exhibit N hereto) and other documents necessary or appropriate to enable such Servicer or the Special
Servicer to carry out its servicing and administrative duties hereunder, and the Trustee shall not be held responsible (and shall
be indemnified by the Servicer or the Special Servicer) for any negligence or misuse by the Servicer or the Special Servicer in
its uses of any such powers of attorney or other document. Notwithstanding anything contained herein to the contrary, the Servicer
and the Special Servicer shall not without the Trustee’s prior written consent: (i) initiate any action, suit or proceeding
solely under the Trustee’s name without indicating the representative capacity of the Servicer or the Special Servicer,
as applicable, or (ii) take any action with the intent to, and which actually does cause, the Trustee to be registered to
do business in any state.

 

The
liability of each of the Servicer and the Special Servicer, as applicable, for actions and omissions in its capacity as Servicer
and the Special Servicer, respectively, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.3).
Nothing contained in this Agreement shall be construed as an express or implied guarantee by the Servicer or the Special Servicer
of the collectibility of the Trust Loan and the Companion Loans.

 

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Section 3.2.     Sub-Servicing
Agreements. (a)  The Special Servicer shall not engage any sub-servicer or enter into any sub-servicing agreement.
The Servicer, at its own expense without a right of reimbursement under this Agreement or otherwise, may enter into sub-servicing
agreements with sub-servicers for the servicing and administration of the Trust Loan and the Companion Loans, provided that
(i) any such sub-servicing agreement shall be upon such terms and conditions as are not inconsistent with this Agreement
and as the Servicer and the sub-servicer have agreed, and (ii) no sub-servicer retained by the Servicer shall grant any modification,
waiver, or amendment to the Loan Documents without the approval of the Servicer. References in this Agreement to actions taken
or to be taken, and limitations on actions permitted to be taken, by the Servicer in servicing the Whole Loan include actions
taken or to be taken by a sub-servicer on behalf of the Servicer. Each sub-servicer shall be (i) authorized to transact business
and licensed in the applicable state(s), if, and to the extent, required by applicable law to enable the sub-servicer to perform
its obligations under the applicable sub-servicing agreement, and (ii) qualified to perform its obligations under the applicable
sub-servicing agreement. For purposes of this Agreement, the Servicer shall be deemed to have received any amount when the sub-servicer
receives such amount, irrespective of whether such amount is remitted to the Servicer for deposit in the Collection Account, any
Cash Management Account, any Reserve Account or the Distribution Account, and actions taken by the sub-servicer shall be deemed
to be actions of the Servicer. The Servicer shall notify the Certificate Administrator, the Trustee, the Loan Borrower and the
Depositor in writing promptly upon the appointment of any sub-servicer and promptly furnish the Trustee and the Certificate Administrator,
upon its request, with a copy of the sub-servicing agreement. No sub-servicer shall be permitted to enter into any sub-servicing
agreement with other sub-servicers without the prior written consent of the Servicer.

 

(b)          Notwithstanding
any sub-servicing agreement, the Servicer shall remain obligated and liable to the Trustee and the Certificateholders for the
servicing and administering of the Trust Loan and the Companion Loans in accordance with the provisions of Section 3.1
without diminution of such obligation or liability by virtue of such sub-servicing agreement, or by virtue of indemnification
from a sub-servicer, and to the same extent and under the same terms and conditions as if the Servicer alone were servicing and
administering the Whole Loan.

 

(c)          Any
sub-servicing agreement entered into by the Servicer shall provide that it may be assumed or terminated by (i) the Trustee
if the Trustee has assumed the duties of the Servicer or if the Servicer is otherwise terminated pursuant to the terms of this
Agreement, or (ii) a successor Servicer if such successor Servicer has assumed the duties of the Servicer, without cost or
obligation to the Trustee, the Certificate Administrator, the successor Servicer, the Trust or the Trust Fund.

 

(d)          Any
sub-servicing agreement, and any other transactions or services relating to the Whole Loan involving a sub-servicer, shall be
deemed to be between the Servicer and such sub-servicer alone, and the Certificate Administrator, the Trustee, the Depositor,
the Trust and the Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties
or liabilities with respect to the sub-servicer, and no provision herein shall be construed so as to require the Trust, the Trustee,
the Certificate Administrator or the Depositor to indemnify any such sub-servicer. The Servicer is permitted, at its own expense,
or to the extent that a particular expense is provided herein to be an Advance or an expense of the

 

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Trust, at the expense of the
Trust, to utilize other agents or attorneys typically used by servicers of mortgage loans underlying commercial mortgage backed
securities in performing its obligations under this Agreement.

 

(e)          Notwithstanding
anything herein, each of the initial Servicer and the initial Special Servicer may delegate certain of its duties and obligations
hereunder to an Affiliate of the Servicer or Special Servicer, as applicable. Such delegation shall not be considered a sub-servicing
agreement hereunder, and the requirements and obligations set forth herein applicable to sub-servicing agreements, sub-servicers
or Servicing Function Participants shall not be applicable to such arrangement. Notwithstanding any such delegation, the Servicer
and the Special Servicer shall remain obligated and liable for the performance of their respective obligations and duties under
this Agreement in accordance with the provisions hereof to the same extent and under the same terms and conditions as if each
alone were servicing and administering the Whole Loan as required hereby.

 

(f)          The
parties hereto acknowledge that the Whole Loan is subject to the terms and conditions of the Co-Lender Agreement and recognize
the respective rights and obligations of the Trust, as holder of the Trust Loan, and of the Companion Loan Holders under the Co-Lender
Agreement, including: (i) with respect to the allocation of collections on or in respect of the Whole Loan, and the making of
remittances, to the Trust, as holder of the Trust Loan, and to the Companion Loan Holders; (ii) with respect to the allocation
of expenses and losses relating to the Whole Loan to the Trust, as holder of the Trust Loan, and to the Companion Loan Holders
and (iii) to the extent provided for under the Co-Lender Agreement, the consultation rights of the Companion Loan Holders. With
respect to the Whole Loan, the Servicer (if the Whole Loan is not a Specially Serviced Loan) or the Special Servicer (if the Whole
Loan has become a Specially Serviced Loan or the Property has been converted to an Foreclosed Property) shall prepare and provide
to each Companion Loan Holder all notices, reports, statements and communications to be delivered by the holder of the Trust Loan
under the Co-Lender Agreement, and shall perform all duties and obligations to be performed by a servicer and perform all servicing
related duties and obligations to be performed by the holder of the Trust Loan pursuant to the Co-Lender Agreement. In the event
of any conflict between this Agreement and the Co-Lender Agreement, the terms of the Co-Lender Agreement shall control.

 

(g)          Notwithstanding
anything to the contrary herein, at no time shall the Servicer or the Trustee be required to make, and they shall not make, any
advance of delinquent scheduled monthly payments of principal or interest with respect to any Companion Loan.

 

(h)          To
the extent required under the Loan Documents or the Co-Lender Agreement, the Servicer shall, on behalf of the Loan Lender, maintain
a note register for the Whole Loan in accordance with the Loan Documents or the Co-Lender Agreement. The Loan Sellers are the
holders of the Companion Loans as of the Closing Date, and notices regarding such ownership shall be addressed to the Loan Seller
at the address set forth in Section 10.4.

 

Section 3.3.     Cash
Management Account. A Lockbox Account and a Cash Management Account have been or shall be established pursuant to
the terms of the Loan Agreement, the Cash Management Agreement and the Lockbox Account Agreement. The Servicer shall exercise
and enforce the rights of the Trust Fund with respect to the Cash

 

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Management Account and the Lockbox Account under the Loan Agreement, the Cash Management Agreement and
the Lockbox Account Agreement in accordance with Accepted Servicing Practices and the other terms of this Agreement and the other
Loan Documents.

 

Section 3.4.     Collection
Account. (a) The Servicer shall establish and maintain (a) one or more accounts (which may be by ledger entry) for
the benefit of the Certificateholders in the name of “Midland Loan Services, a Division of PNC Bank, National
Association, as Servicer on behalf of Wells Fargo Bank, National Association, as Trustee for the benefit of the
Certificateholders of VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P” and
(a) one or more deposit accounts in the name of “Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer on behalf of Wells Fargo Bank, National Association, as Trustee for the benefit of the holders of the Companion
Loans with respect to VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P”
(collectively, the “Collection Account”). The Collection Account must be an Eligible Account. The Servicer
shall deposit into the Collection Account within two Business Days of receipt of properly identified and available funds the
following amounts representing payments and collections received or made during each Collection Period on or with respect to
the Whole Loan:

 

(i)           all
payments on account of principal on the Whole Loan;

 

(ii)          all
payments on account of interest on the Whole Loan, including Default Interest;

 

(iii)         any
amount representing reimbursements by the Loan Borrower of Advances, interest thereon, and any other expenses of the Depositor,
the Certificate Administrator, the 17g-5 Information Provider, the Trustee, the Servicer or the Special Servicer, as applicable,
as required by the Loan Documents or hereunder;

 

(iv)         any
other amounts payable for the benefit of the Servicer, the Special Servicer, the Certificate Administrator, the 17g-5 Information
Provider, the Trustee or the Certificateholders under the Trust Loan or the Whole Loan, as applicable;

 

(v)          any
amounts required to be deposited pursuant to Section 3.8(b) in connection with net losses realized on Permitted Investments
with respect to funds held in the Collection Account;

 

(vi)         all
Net Foreclosure Proceeds received from the Special Servicer pursuant to Section 3.14 and all Net Liquidation Proceeds,
Insurance Proceeds and Condemnation Proceeds (to the extent not needed for the repair or restoration of the Property); and

 

(vii)        any
other amounts required by the provisions of this Agreement to be deposited into the Collection Account by the Servicer, including,
without limitation, any (1) proceeds of any repurchase of the Trust Loan (or any Loan Seller Percentage Interest therein)
pursuant to Section 2.8(b) and the Loan Purchase Agreement, (2) proceeds of the sale of the Whole Loan by the
Special Servicer pursuant to Section 3.16, or (3) amounts payable under the Loan Documents by any Person to the
extent not specifically excluded.

 

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The
foregoing requirements for deposits in the Collection Account by the Servicer shall be exclusive, it being understood and agreed
that, without limiting the generality of the foregoing, payments (if any) in the nature of additional compensation (other than
Default Interest and late payment charges) to which the Servicer or Special Servicer, as applicable are entitled pursuant to Section 3.17
and any reimbursement made by the Loan Borrower of expenses of the Servicer or the Special Servicer need not be deposited
in the Collection Account by the Servicer or Special Servicer and, to the extent permitted by applicable law, the Servicer or
the Special Servicer, as applicable, shall be entitled to retain any such fees and expense reimbursements received with respect
to the Whole Loan.

 

(b)          Funds
in the Collection Account may be invested in Permitted Investments in accordance with the provisions of Section 3.8.
The Servicer shall on the Closing Date give written notice to the Certificate Administrator of the location and account number
of the Collection Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

 

(c)          On
or prior to each Remittance Date, (or following the securitization of any Companion Loan, in the case of clause (vii) below,
on or prior to the day which is the earlier of (A) the Remittance Date and (B) the Business Day following the “determination
date” (or any term substantially similar thereto), as such term is defined in the related Other Pooling and Servicing Agreement
as long as such determination date is no earlier than the 6th day of the calendar month), prior to the remittance of
funds to the Certificate Administrator for deposit in the Distribution Account pursuant to Section 3.5, the Servicer
shall make withdrawals from the Collection Account (which withdrawals shall be the only permitted withdrawals from the Collection
Account by the Servicer) as described below (the order set forth below not constituting an order of priority for such withdrawals):

 

(i)           to
withdraw funds deposited in the Collection Account in error;

 

(ii)          concurrently,
to pay the Servicing Fee to the Servicer, the Certificate Administrator Fee (including the portion that is the Trustee Fee) to
the Certificate Administrator and the CREFC® Intellectual Property Royalty License Fees to CREFC®,
as applicable;

 

(iii)         to
pay (a) to the Servicer, as additional compensation, any income earned (net of losses (subject to Section 3.8(b))
on the investment of funds deposited in the Collection Account and any Reserve Account (to the extent not payable to the Loan
Borrower); and (b) the Special Servicing Fee, if any, the Workout Fee, if any, and the Liquidation Fee, if any, to the Special
Servicer (with respect to clauses (a) and (b), in that order);

 

(iv)         to
reimburse the Trustee and the Servicer, in that order, for (a) Advances made by each and not previously reimbursed from late
payments received during the applicable period on the Whole Loan, Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds
(to the extent not needed for the repair or restoration of the Property) and other collections on the Whole Loan; provided
that any Advance that has been determined to be a Nonrecoverable Advance shall be reimbursed pursuant to

 

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clause (viii) below
and (b) unpaid interest on such Advances at the Advance Rate; provided, however, that prior to (x) final
liquidation of the Property or (y) the final payment and release of the Mortgage, interest on Advances shall be paid out
of Default Interest or late payment charges collected in the related Collection Period before such interest on Advances is paid
out of other amounts on deposit in the Collection Account;

 

(v)          if
any Companion Loan (or any successor REO Companion Loan with respect thereto) is part of an Other Securitization Trust, to the
extent required by the Co-Lender Agreement, to pay the applicable party to the related Other Pooling and Servicing Agreement for
any interest accrued on Companion Loan Advances made thereby;

 

(vi)         to
make any other required payments (other than payments under clause (v) above and normal monthly remittances and reimbursements
pursuant to clause (vii) below) due under the Co-Lender Agreement to the holders of the Companion Loans;

 

(vii)        to
remit to the Companion Loan Holders all remaining amounts on deposit in the Collection Account payable to the Companion Loan Holders
pursuant to the Co-Lender Agreement with respect to the Companion Loans (or any successor REO Companion Loans), exclusive of any
amounts reimbursable to the Servicer, the Special Servicer, the Trustee or the Trust in accordance with the Co-Lender Agreement;

 

(viii)       to
reimburse the Trustee and the Servicer, in that order, for any Nonrecoverable Advances made by each and not previously reimbursed
that are not covered by clause (iv)(a) above together with unpaid interest thereon at the Advance Rate;

 

(ix)          to
reimburse the Trustee, the Certificate Administrator, the Servicer and the Special Servicer, in that order, for expenses incurred
by them in connection with the liquidation of the Whole Loan or Property and not otherwise covered and paid by an insurance policy
or deducted from the proceeds of liquidation;

 

(x)           to
pay to the Servicer or the Special Servicer, as applicable, as additional compensation, to the extent actually received from the
Loan Borrower (and permitted by, or not prohibited by, and allocated as such pursuant to the terms of the Loan Documents and this
Agreement) and deposited into the Collection Account by the Servicer, any payments in the nature of late payment fees and Default
Interest (to the extent remaining after payments pursuant to clause (iv) above), assumption fees, assumption application
fees, release fees, Modification Fees, defeasance fees, consent fees and similar fees and expenses;

 

(xi)          to
pay or reimburse the Trustee, the Certificate Administrator, the Depositor, the Servicer and the Special Servicer in that order,
for any other amounts then due and payable or reimbursable (including any Trust Fund Expenses) to each pursuant to the terms of
this Agreement and not previously paid or reimbursed pursuant to the preceding clauses; and

 

(xii)         to
the extent not previously paid or advanced, to pay to the Certificate Administrator (or set aside for eventual payment) any and
all taxes imposed on the Trust

 

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or the Trust Fund by federal or state governmental authorities; provided, that, if such
taxes are the result of the Depositor’s, Servicer’s, Special Servicer’s, the Certificate Administrator’s
or Trustee’s, as applicable, negligence, bad faith or willful misconduct in performing its obligations hereunder, such amounts
may not be withdrawn from the Collection Account, but will be paid by such party that was negligent, acted in bad faith or engaged
in willful misconduct pursuant to Sections 6.7 and 8.12, as applicable.

 

The
remittance set forth in clauses (v), (vi) and (vii) above shall be made by the Servicer as a single remittance.

 

Notwithstanding
the foregoing, with respect to any Remittance Date, in no event will the Servicer be permitted to make a withdrawal pursuant to
clauses (ii), (iii)(b), (iv), (ix) or (xi) to the extent that, as a result of such withdrawal,
the amount on deposit in the Collection Account after giving effect to the withdrawal would be less than the amount of the Required
Advance Amount; provided that the Servicer shall be permitted to make withdrawals in the order of priority specified above
up to the amount on deposit in the Collection Account up to an amount that would result in funds equaling or exceeding the Required
Advance Amount remaining in the Collection Account. Notwithstanding the foregoing, such withdrawal limitations shall not apply
(and accrued amounts previously eligible for withdrawal pursuant to clauses (ii), (iii)(b), (iv), (ix)
or (xi) but which remain unpaid due to the operation of this paragraph may then be withdrawn and paid) upon (1) the
final liquidation of the Trust Loan or the Property, (2) the final payment of the Trust Loan and release of the Mortgage
or (3) the determination that any Advance that would increase the currently unreimbursed Advances in the aggregate would
be a Nonrecoverable Advance. The Servicer shall advance, to the extent it determines that such amounts are recoverable, all amounts
owed to itself (other than Servicing Fees), CREFC®, the Special Servicer, the Certificate Administrator and Trustee
pursuant to such clauses (ii), (iii)(b), (iv) (to the extent reimbursements of such amounts are owed
to the Trustee or the Certificate Administrator), (ix) or (xi) (other than unreimbursed Property Protection Advances
and Monthly Payment Advances made by the Servicer, which shall continue to remain outstanding) (such advances, “Administrative
Advances”). All Administrative Advances shall accrue interest in accordance with Section 3.23. Notwithstanding
any provision herein, the Servicer shall not be obligated to make any Administrative Advance that it determines, together with
interest thereon, will constitute a Nonrecoverable Advance if made.

 

The
Servicer shall pay to the Certificate Administrator (on behalf of itself and the Trustee) and advance or pay to the Special Servicer,
if applicable, from the Collection Account as provided above amounts permitted to be paid to the Special Servicer, the Certificate
Administrator and the Trustee, as applicable, therefrom, promptly upon receipt of certificates of a Servicing Officer of the Special
Servicer and a Responsible Officer of the Certificate Administrator and the Trustee, as applicable, describing the item and amount
to which the Special Servicer and the Trustee, respectively, are entitled; provided, however, the Servicer shall
pay the Certificate Administrator Fee to the Certificate Administrator without requiring the delivery of such certificate. The
Servicer may rely conclusively on any such certificate, shall have no duty to recalculate the amounts stated therein and shall
have no liability if the amount paid in reliance thereon is an amount to which the Special Servicer, the Certificate Administrator
or the Trustee, as applicable, is not entitled.

 

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(d)          The
Certificate Administrator shall establish and maintain in the name of the Certificate Administrator on behalf of the Trustee and
for the benefit of the Certificateholders, a segregated non-interest bearing reserve account (which may be a subaccount of the
Distribution Account) (the “Interest Reserve Account”). The Interest Reserve Account must be an Eligible Account
or a subaccount of an Eligible Account. Funds on deposit in the Interest Reserve Account shall be uninvested. On each Distribution
Date occurring in any February and on any Distribution Date occurring in any January that occurs in a year that is not a
leap year (unless, in either case, such Distribution Date is the final Distribution Date), the Certificate Administrator shall
deposit into the Interest Reserve Account an amount equal to one day’s net interest collected on the principal balance of
each Note related to the Trust Loan as of the Loan Payment Date occurring in the calendar month preceding the calendar month in
which such Distribution Date occurs at the applicable Net Trust Loan Rate (net of the Servicing Fee, the CREFC®
Intellectual Property Royalty License Fee and the Certificate Administrator Fee payable therefrom and exclusive of Default Interest)
to the extent a full Monthly Payment or Monthly Payment Advance is made in respect thereof (all amounts so deposited in any consecutive
January and February, “Withheld Amounts”). On each Remittance Date occurring in March (or February, if
the related Distribution Date is the final Distribution Date), the Certificate Administrator shall withdraw from the Interest
Reserve Account an amount equal to the Withheld Amounts from the preceding January and February, if any, and transfer such amounts
into the Distribution Account.

 

Section 3.5.     Distribution
Account. (a)  The Certificate Administrator shall establish and maintain on behalf of the Trustee and for
the benefit of the Certificateholders a segregated non-interest bearing trust account (the “Distribution Account”),
which shall be deemed to include the Lower-Tier Distribution Account and the Upper-Tier Distribution Account, which shall be subaccounts
of the Distribution Account for the benefit of the Certificateholders and the Trustee, as holder of the Uncertificated Lower-Tier
Interests. The Distribution Account must be an Eligible Account. On each Remittance Date, the Servicer shall transfer from the
Collection Account to the Certificate Administrator for deposit into the Distribution Account all Available Funds remaining on
deposit therein, after giving effect to the withdrawals made pursuant to Section 3.4(c). The Certificate Administrator
shall credit the funds remitted by the Servicer from the Collection Account to the Distribution Account. Amounts held in the Distribution
Account shall be uninvested.

 

The
Certificate Administrator shall make withdrawals from the Distribution Account to make distributions to the Holders of the Certificates
pursuant to Section 4.1.

 

(b)          The
Certificate Administrator shall make or be deemed to have made withdrawals from the Lower-Tier Distribution Account in the following
order of priority and only for the following purposes:

 

(i)            to
make deposits of the Lower-Tier Distribution Amount pursuant to Section 4.1(b) and Section 4.3(b) into
the Upper-Tier Distribution Account and to make distributions to the Holder of the Class R Certificates (in respect of the
Class LT-R Interest) pursuant to Section 4.1(b);

 

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(ii)           to
withdraw amounts deposited into the Lower-Tier Distribution Account in error and pay such amounts to the Persons entitled thereto;
and

 

(iii)          to
clear and terminate the Lower-Tier Distribution Account pursuant to Section 10.1.

 

(c)          The
Certificate Administrator shall make withdrawals from the Upper-Tier Distribution Account in the following order of priority and
only for the following purposes:

 

(i)           to
withdraw amounts deposited in error and to withdraw amounts due to it under Section 3.4(c), to the extent such amounts
were not withdrawn and paid to it by the Servicer under Section 3.4(c);

 

(ii)           to
make distributions to Holders of the Regular Certificates and the Class R Certificates (in respect of the Class UT-R
Interest) on each Distribution Date pursuant to Section 4.1 or Section 9.1 as applicable; and

 

(d)          to
clear and terminate the Upper-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.1.

 

Section 3.6.     Foreclosed
Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the
“Foreclosed Property Account”) in the name of either (a) “AEGON USA Realty Advisors, LLC, as Special
Servicer on behalf of Wells Fargo Bank, National Association, as Trustee for the benefit of the Certificateholders of VNDO
Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P” related to the Foreclosed
Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders
and the Companion Loan Holders or (b) in the name of the special-purpose entity formed under Section 3.14. The
Foreclosed Property Account must be an Eligible Account. The Special Servicer shall deposit into the Foreclosed Property
Account within two Business Days of receipt all funds collected and received in connection with the operation or ownership of
such Foreclosed Property. On or before the last day of each Collection Period, the Special Servicer shall withdraw the funds
in the Foreclosed Property Account, net of certain expenses and/or reserves, and deposit them into the Collection Account in
accordance with Section 3.4(a). The Special Servicer shall notify the Trustee and the Certificate Administrator in
writing of the location and account number of the Foreclosed Property Account and shall notify the Trustee and the
Certificate Administrator in writing prior to any subsequent change thereof.

 

Section 3.7.     Appraisal
Reductions. (a)  Promptly upon the occurrence of an Appraisal Reduction Event, the Special Servicer shall
notify the Servicer, the Certificate Administrator and the Trustee (and so long as no Control Termination Event is continuing,
the Controlling Class Representative) (i) of the occurrence of an Appraisal Reduction Event, (ii)(A) order and (B) use efforts
consistent with Accepted Servicing Practices to obtain an independent appraisal of the Property (unless an appraisal of the Property
was performed within nine (9) months prior to the Appraisal Reduction Event and the Special Servicer is not aware of any material
change in the market or condition or value of the Property since the date of such Appraisal (in which case, such appraisal shall
be used by the Special Servicer)) and (iii)

 

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determine (no later than the first Distribution Date on or following the receipt of
such appraisal or determination to use an existing appraisal) (so long as such appraisal was received at least three (3) Business
Days prior to such Distribution Date (in which case it shall determine no later than the second Distribution Date following the
receipt of such appraisal)) on the basis of the applicable appraisal, and receipt of information reasonably requested by the Special
Servicer from the Servicer in the Servicer’s possession necessary to calculate the Appraisal Reduction Amount (which information
shall be delivered within two (2) Business Days after receipt of any such request) whether there exists any Appraisal Reduction
Amount and, if so, give reasonably prompt notice thereof to the Servicer, the Trustee, the Companion Loan Holders (or, in the
case of a Companion Loan that is part of an Other Securitization Trust, the master servicer, special servicer and trustee with
respect to such Other Securitization Trust) and the Certificate Administrator. The cost of obtaining such appraisal shall be paid
by the Servicer as a Property Protection Advance or an Administrative Advance unless it would constitute a Nonrecoverable Advance
and in such case, as an expense of the Trust. Updates of appraisals shall be obtained by the Special Servicer and paid for by
the Servicer as a Property Protection Advance (or paid for by the Trust if the Servicer determines that such Advance would constitute
a Nonrecoverable Advance) every nine (9) months for so long as an Appraisal Reduction Event exists, and the Appraisal Reduction
Amount shall be adjusted accordingly, and, if required in accordance with any such adjustment, each Class of Certificates that
has been notionally reduced as a result of Appraisal Reduction Amounts shall have its related Certificate Balance notionally restored
(or reduced if applicable) to the extent required by such adjustment of the Appraisal Reduction Amount, and there shall be a redetermination
of whether a Control Termination Event or a Consultation Termination Event is then in effect. Any such appraisal obtained shall
be delivered by the Special Servicer to the Certificate Administrator and the Trustee, the Servicer and, so long as no Control
Termination Event is continuing, the Controlling Class Representative, in electronic format (which format is reasonably acceptable
to the Certificate Administrator), and the Certificate Administrator shall make such appraisal available to Privileged Persons
pursuant to Section 8.14(b).

 

The
Holders of Certificates representing the majority of the Certificate Balance of the Class E Certificates whose aggregate Certificate
balance is notionally reduced to less than 25% of the initial Certificate Balance of that Class of Certificates (such Class, an
“Appraised Out Class”) as a result of an allocation of an Appraisal Reduction Amount in respect of such Class
shall have the right to challenge the Special Servicer’s Appraisal Reduction Amount determination and, at their sole expense,
obtain a second Appraisal of the Property an Appraisal Reduction Event has occurred (such Holders, the “Requesting Holders”).
The Requesting Holders shall cause the Appraisal to be prepared on an “as is” basis by an Appraiser in accordance
with MAI standards, and the Appraisal shall be reasonably acceptable to the Special Servicer in accordance with Accepted Servicing
Practices. The Requesting Holders shall provide the Special Servicer with notice of their intent to challenge the Special Servicer’s
Appraisal Reduction Amount determination within 10 days of the Requesting Holders’ receipt of written notice of the determination
of such Appraisal Reduction Amount.

 

An
Appraised Out Class shall be entitled to continue to exercise the rights of the Controlling Class until 10 days following its
receipt of written notice of the Appraisal Reduction Amount, unless the Requesting Holders provide written notice of their intent
to challenge such Appraisal Reduction Amount to the Special Servicer and the Certificate Administrator within

 

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such 10 day period
pursuant to the immediately preceding paragraph. If the Requesting Holders provide such notice, then the Appraised Out Class shall
be entitled to continue to exercise the rights of the Controlling Class until the earliest of (i) 120 days following the related
Appraisal Reduction Event, unless the Requesting Holders provide the second appraisal within such 120 day period, (ii) the determination
by the Special Servicer (described below) that a recalculation of the Appraisal Reduction Amount is not warranted or that such
recalculation does not result in the Appraised Out Class remaining the Controlling Class and (iii) the occurrence of a Consultation
Termination Event. After the Appraised Out Class is no longer entitled to exercise the rights of the Controlling Class, the rights
of the Controlling Class shall not be exercised by any Class of Certificates, unless a recalculation results in the reinstatement
of the Appraised Out Class as the Controlling Class.

 

In
addition to the foregoing, the Holders of Certificates representing the majority of the Certificate Balance of any Appraised Out
Class shall have the right, at their sole expense, to require the Special Servicer to order an additional Appraisal of the Property
if an Appraisal Reduction Event has occurred and if an event has occurred at or with regard to the Property that would have a
material effect on its Appraised Value, and the Special Servicer shall use its reasonable best efforts to ensure that such Appraisal
is delivered within 30 days from receipt of such Holders’ written request and shall ensure that such Appraisal is prepared
on an “as is” basis by an Appraiser in accordance with MAI standards; provided that the Special Servicer shall
not be required to obtain such Appraisal if the Special Servicer determines in accordance with Accepted Servicing Practices that
no events at or with regard to the Property have occurred that would have a material effect on such Appraised Value of the Property.

 

Upon
receipt of an Appraisal provided by, or requested by, Holders of an Appraised Out Class pursuant to this Section 3.7 and
any other information reasonably requested by the Special Servicer from the Servicer reasonably required to calculate or recalculate
the Appraisal Reduction Amount, the Special Servicer shall determine, in accordance with Accepted Servicing Practices, whether,
based on its assessment of such additional Appraisal, any recalculation of the Appraisal Reduction Amount is warranted and, if
so warranted, shall recalculate such Appraisal Reduction Amount based upon such additional Appraisal. If required by any such
recalculation, the Appraised Out Class shall be reinstated as the Controlling Class. The Special Servicer shall promptly deliver
notice to the Certificate Administrator of any such determination and recalculation, and the Certificate Administrator shall promptly
post such notice to the Certificate Administrator’s Website.

 

Appraisals
that are permitted to be presented by, or obtained by the Special Servicer at the request of, Holders of an Appraised Out Class
shall be in addition to any Appraisals that the Special Servicer may otherwise be required to obtain in accordance with Accepted
Servicing Practices or this Agreement without regard to any appraisal requests made by any Holder of an Appraised Out Class.

 

(b)          While
an Appraisal Reduction Amount exists, (i) the amount of any Monthly Payment Advances shall be reduced as provided in Section 3.23(a),
and (ii) the existence thereof will be taken into account for purposes of determining (a) the Voting Rights of certain Classes
of Certificates as provided in Section 3.7(c) or (b) if a Control Termination Event is continuing.

 

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(c)          The
Certificate Balance of each class of the Sequential Pay Certificates shall be notionally reduced (solely for purposes of determining
(x) the Voting Rights of the related Classes and the Controlling Class and (y) whether a Control Termination Event is continuing
on any Distribution Date) on any Distribution Date, to the extent of the Appraisal Reduction Amount allocated to such Class on
such Distribution Date. Appraisal Reduction Amounts with respect to the Whole Loan shall be applied, first, to the B Notes,
pro rata and pari passu, and then to the A Notes, pro rata and pari passu, in each case based on the
outstanding principal balances of the related Notes. The Appraisal Reduction Amount allocated to the Trust Loan for any Distribution
Date shall be applied to notionally reduce the Certificate Balances of the Sequential Pay Certificates (other than the Class A
Certificates) in the following order of priority: first, to the Class E Certificates; second, to the Class D
Certificates; third, to the Class C Certificates; and fourth, to the Class B Certificates; (provided
in each case that no Certificate Balance in respect of any such Class may be notionally reduced below zero). Appraisal Reduction
Amounts shall not be applied to notionally reduce the Certificate Balance of any Class A Certificate.

 

(d)          In
the event that a portion(s) of one or more Monthly Payment Advances with respect to the Trust Loan was reduced as a result of
an Appraisal Reduction Event, the amount of the Net Liquidation Proceeds to be applied to interest shall be reduced by the aggregate
amount of such reductions and the portion of such Net Liquidation Proceeds to be applied to principal shall be increased by such
amount, and if the amounts of the Net Liquidation Proceeds to be applied to principal have been applied to pay the principal of
the Trust Loan in full, any remaining Net Liquidation Proceeds shall then be applied to pay any remaining accrued and unpaid interest
on the Trust Loan in accordance with Section 1.3.

 

(e)          If
(i) an Appraisal Reduction Event has occurred, (ii) with respect to the Property, either (A) no Appraisals or updates
of the Appraisals have been obtained or conducted with respect to the Property or Foreclosed Property, as the case may be, during
the 12-month period prior to the date of such Appraisal Reduction Event or (B) a material change in the circumstances surrounding
the Property or Foreclosed Property, as the case may be, has occurred since the date of the most recent Appraisal that would materially
adversely affect the value of the Property or Foreclosed Property, as the case may be, and (iii) no new Appraisal has been
obtained or conducted for the Property or Foreclosed Property, as the case may be, within 60 days after the Appraisal Reduction
Event has occurred, then (x) until the new Appraisal is obtained for the Property, the appraised value of the Property for
purposes of determining the Appraisal Reduction Amount shall be equal to 75% of the appraised value set forth in the most recent
Appraisal for the Property or Foreclosed Property, as the case may be (the “Assumed Appraised Value”), and
(y) upon receipt or performance of the new Appraisal by the Special Servicer, the appraised value of the Property or Foreclosed
Property, as the case may be, shall be based on such new Appraisal and the Appraisal Reduction Amount will be recalculated in
accordance with the definition of Appraisal Reduction Amount.

 

Section 3.8.     Investment
of Funds in the Collection Account and Any Foreclosed Property Account. (a)  The Servicer, with respect to
the Collection Account and the Reserve Accounts, and the Special Servicer, with respect to the Foreclosed Property Account, may
direct any depository institution maintaining the Collection Account or the Foreclosed Property Account and any Reserve Accounts
(to the extent interest is not payable to the Loan

 

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Borrower), respectively (each, for purposes of this
Section 3.8, an “Investment Account”), to invest the funds in such Investment Account in one or
more Permitted Investments that bear interest or are sold at a discount, and that mature, unless payable on demand, no later than
the Business Day preceding the date on which such funds are required to be withdrawn from such Investment Account pursuant to
this Agreement. Any direction by the Servicer or the Special Servicer, as applicable, to invest funds on deposit in an Investment
Account shall be in writing and shall certify that the requested investment is a Permitted Investment which matures at or prior
to the time required hereby or is payable on demand. All such Permitted Investments shall be held to maturity, unless payable
on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee for the benefit of the Certificateholders
and Companion Holders (in its capacity as such) or in the name of a nominee of the Trustee. The Trustee shall have sole control
(except with respect to investment direction, which shall be in the control of the Servicer, with respect to the Collection Account
and the Reserve Accounts (to the extent interest is not payable to the Borrower), or the Special Servicer, with respect to the
Foreclosed Property Account, as an independent contractor to the Trust Fund) over each such investment and any certificate or
other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent (which shall initially
be the Servicer or the Special Servicer, as applicable), together with any document of transfer, if any, necessary to transfer
title to such investment to the Trustee for the benefit of the Certificateholders and Companion Holders or its nominee. The Trustee
and the Certificate Administrator shall have no responsibility or liability with respect to the investment directions of the Servicer
or the Special Servicer, as applicable, or any losses resulting therefrom, whether from Permitted Investments or otherwise. In
the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the
Servicer and the Special Servicer, as applicable, shall:

 

(i)            consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the
amount required to be withdrawn on such date; and

 

(ii)           demand
payment of all amounts due thereunder promptly upon determination by the Servicer or Special Servicer, as applicable, that such
Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the related Investment
Account.

 

(b)          All
net income and gain realized from investment of funds deposited in the Collection Account shall be for the benefit of the Servicer
in accordance with the terms and priorities of this Agreement. All net income and gain realized from investment of funds deposited
in the Foreclosed Property Account shall be for the benefit of the Special Servicer. Any net losses on funds in the Collection
Account or the Foreclosed Property Account shall be reimbursed by the Servicer or the Special Servicer, as applicable, from its
own funds promptly, but in any event on or prior to the Remittance Date following the realization of such loss.

 

(c)          Except
as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in any other performance required under any Permitted Investment, the Servicer shall take such

 

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action as
may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.
In the event the Servicer takes any such action, the Trust Fund shall pay or reimburse the Servicer, pursuant to Section 3.4(c),
for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Servicer in connection therewith.

 

(d)          For
the avoidance of doubt, the Collection Account, the Foreclosed Property Account, the Interest Reserve Account and the Lower-Tier
Distribution Account (including interest, if any, earned on the investment of funds in such accounts) will be owned by the Lower-Tier
REMIC, and the Upper-Tier Distribution Account (including interest, if any, earned on the investment of funds in such account)
will be owned by the Upper-Tier REMIC, each for federal income tax purposes.

 

(e)          Notwithstanding
the foregoing, neither the Servicer, nor the Special Servicer shall cover any losses from the bankruptcy or insolvency of a depository
institution holding an account described in this Section 3.8, so long as (i) such depository institution or trust
company satisfied the qualifications set forth in the definition of Eligible Institution at the time such deposit was made and
such institution was not an Affiliate of the Servicer or the Special Servicer, as applicable and (ii) such loss was incurred
within 30 days after the earlier of (a) the date of such bankruptcy or insolvency or (b) the date on which the depositary
institution or trust company failed to satisfy the qualifications set forth in the definition of Eligible Institution.

 

Section 3.9.     Payment
of Taxes, Assessments, etc. The Servicer (other than with respect to the Foreclosed Property) and the Special
Servicer (with respect to the Foreclosed Property) shall maintain accurate records with respect to the Property (or the
Foreclosed Property, as the case may be) reflecting the status of taxes, assessments, charges and other similar items that
are or may become a lien on the Property (or the Foreclosed Property, as the case may be) and the status of insurance
premiums payable in respect of insurance policies required to be maintained pursuant to Section 3.11 hereof. The
Servicer shall obtain, from time to time, all bills for the payment of such items (including renewal premiums). The Servicer
shall pay (or cause to be paid) real estate taxes, insurance premiums and other similar items from funds in the applicable
Reserve Account in accordance with the Loan Agreement at such time as may be required by the Loan Documents. If the Loan
Borrower does not make the necessary payments and/or a Loan Event of Default has occurred and amounts in the applicable
Reserve Account are insufficient to make such payments, the Servicer shall make a Property Protection Advance, subject to the
determination of non-recoverability provided in Section 3.23, from its own funds for amounts payable with respect
to all such items related to the Property when and as the same shall become due and payable. The Servicer shall ensure that
the amount of funds in the applicable Reserve Account is increased when and if applicable taxes, assessments, charges and
other similar items, ground rents or insurance premiums are increased, in accordance with the terms of the Loan
Agreement.

 

Section 3.10.     Appointment
of Special Servicer. (a) AEGON USA Realty Advisors, LLC, is hereby appointed as the initial Special Servicer to service
the Whole Loan while a Special Servicing Loan Event has occurred and is continuing and perform the other obligations of the
Special Servicer hereunder.

 

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(b)          If
there is a Special Servicer Termination Event with respect to any Special Servicer, such Special Servicer may be removed and replaced
pursuant to Section 7.1. The Trustee shall, promptly after receiving notice of any such removal, so notify the Servicer,
the Companion Loan Holders and, subject to Section 10.17, each Rating Agency. The appointment of any such successor
Special Servicer shall not relieve the Servicer or the Trustee of their respective obligations to make Advances as set forth herein;
provided, however, the initial Special Servicer specified above shall not be liable for any actions or any inaction
of such successor Special Servicer. No termination fee shall be payable to the terminated Special Servicer. No termination of
the Special Servicer and appointment of a successor Special Servicer shall be effective until the successor Special Servicer has
assumed all of its responsibilities, duties and liabilities hereunder in writing, a Companion Loan Rating Agency Confirmation
with respect to such appointment has been delivered to the Trustee and Rating Agency Confirmation with respect to such appointment
has been delivered to the Trustee. Any successor Special Servicer shall be deemed to make the representations and warranties provided
for in Section 2.5(a) mutatis mutandis as of the date of its succession. The terminated Special Servicer shall
retain all rights accruing to it under this Agreement, including the right to receive fees accrued prior to its termination and
other amounts payable to it (including indemnification payments).

 

(c)          Upon
determining that a Special Servicing Loan Event has occurred and is continuing, the Servicer shall immediately give notice thereof
to the Special Servicer, the Certificate Administrator and the Trustee, and the Servicer shall use its reasonable efforts to provide
the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File) and
records (including records stored electronically on computer tapes, magnetic discs and the like) relating to the Whole Loan and
reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto. The Servicer shall
use its reasonable efforts to comply with the preceding sentence within five Business Days of the date that a Special Servicing
Loan Event has occurred. The Servicer in any event shall continue to act as Servicer and administrator of the Whole Loan until
the Special Servicer has commenced the servicing of the Whole Loan, upon the occurrence and during the continuation of a Special
Servicing Loan Event, which shall occur, in the case of a Special Servicing Loan Event, upon the receipt by the Special Servicer
of the information, documents and records referred to in the preceding sentence. The Special Servicer shall instruct the Loan
Borrower to continue to remit all payments in respect of the Whole Loan to the Servicer. The Servicer shall forward any notices
it would otherwise send to the Loan Borrower under the Whole Loan to the Special Servicer who shall send such notice to the Loan
Borrower while a Special Servicing Loan Event has occurred and is continuing.

 

(d)          Upon
determining that a Special Servicing Loan Event is no longer continuing, the Special Servicer shall immediately give notice thereof
to the Servicer, the Certificate Administrator, the Trustee and the Companion Loan Holders, and upon giving such notice such Special
Servicing Loan Event shall cease, the Special Servicer’s obligation to service the Whole Loan shall terminate and the obligations
of the Servicer to service and administer the Whole Loan shall resume and the Special Servicer shall return all of the information
and materials furnished to the Special Servicer pursuant to Section 3.10(c) to the Servicer.

 

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(e)          In
making a Major Decision or in servicing the Whole Loan during the continuance of a Special Servicing Loan Event, the Servicer
or the Special Servicer, as applicable, shall provide to the Certificate Administrator originals of documents entered into in
connection therewith that are required to be included within the definition of “Mortgage File” for inclusion in the
Mortgage File (to the extent such documents are in the possession of the Servicer or the Special Servicer, as applicable) and
copies of any additional related Whole Loan information, including correspondence with the Loan Borrower, and the Special Servicer
shall promptly provide copies of all of the foregoing to the Servicer as well as copies of any related analysis or internal review
prepared by or for the benefit of the Special Servicer.

 

(f)          During
any period in which a Special Servicing Loan Event is continuing, no later than the Business Day preceding each date on which
the Servicer is required to furnish a report under Section 3.18(a) to the Certificate Administrator, the Special Servicer
shall deliver to the Servicer a written statement describing (i) the amount of all payments on account of interest received
on each Note, the amount of all payments on account of principal received on each Note, the amount of Insurance Proceeds and Net
Liquidation Proceeds received, the amount of any Foreclosure Proceeds received with respect to the Property, and the amount of
net income or net loss, as determined from management of a trade or business on, the furnishing or rendering of a non-customary
service to the tenants of, or the receipt of any rental income that does not constitute rents from real property with respect
to, the Foreclosed Property, in each case in accordance with Section 3.15 and (ii) such additional information
relating to the Whole Loan as the Servicer or the Certificate Administrator reasonably requests to enable it to perform its duties
under this Agreement.

 

(g)          Notwithstanding
the provisions of the preceding subsection (c), the Servicer shall maintain ongoing payment records with respect to
the Whole Loan and shall provide the Special Servicer with any information reasonably required by the Special Servicer to perform
its duties under this Agreement.

 

(h)          The
Special Servicer, at the earlier of (x) within 60 days after the occurrence of a Special Servicing Loan Event and (y) prior to
taking action with respect to any Major Decision (or making a determination not to take action with respect to a Major Decision)
if a Special Servicing Loan Event occurs, shall prepare a report (the “Asset Status Report”) for the Whole
Loan. Each Asset Status Report will be delivered in electronic format to the Controlling Class Representative (prior to the occurrence
and continuance of a Consultation Termination Event), the Depositor, the Certificate Administrator, the Trustee, the Servicer,
the Companion Loan Holders (as and to the extent required under Section 5(d) of the Co-Lender Agreement) and, subject to Section 10.17,
the Rating Agencies; provided, however, that the Special Servicer shall not be required to deliver an Asset Status
Report to the Controlling Class Representative if they are the same entity or affiliates of each other. Such Asset Status Report
shall be consistent with Accepted Servicing Practices and set forth the following information to the extent reasonably determinable:

 

(i)           summary
of the status of the Whole Loan and any negotiations with the Loan Borrower;

 

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(ii)          a
discussion of the legal and environmental considerations reasonably known at such time to the Special Servicer, consistent with
Accepted Servicing Practices, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related
guaranties or other collateral for the Whole Loan and whether outside legal counsel has been retained;

 

(iii)         the
most current rent roll and income or operating statement available for the Property;

 

(iv)         the
Special Servicer’s recommendations on how the Whole Loan might be returned to performing status or otherwise realized upon;

 

(v)          the
appraised value of the Property together with the appraisal or the assumptions used in the calculation thereof;

 

(vi)         the
status of any foreclosure actions or other proceedings undertaken with respect thereto, any proposed workouts with respect thereto
and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional Loan Events
of Default;

 

(vii)        a
description of any proposed actions;

 

(viii)       the
alternative courses of action considered by the Special Servicer in connection with the proposed actions;

 

(ix)          the
decision that the Special Servicer made or intends or proposes to make, including a narrative analysis setting forth the Special
Servicer’s rationale for its proposed decision, including its rejection of the alternatives; and an analysis of whether
or not taking such action is reasonably likely to produce a greater recovery on a present value basis than not taking such action,
setting forth (x) the basis on which the Special Servicer made such determination and (y) the net present value calculation
(including the applicable discount rate used) and all related assumptions. In connection with the foregoing analysis, if the Loan
Borrower has indicated its refusal to pay any Workout Fees, Special Servicing Fees or Liquidation Fees due to the Special Servicer,
the Special Servicer must consider the costs to the Trust and analyze as an alternative a sale of the Whole Loan or of the Foreclosed
Property or other exercise of remedies;

 

(x)          a
summary of the status of any action that was described in the most recent prior Asset Status Report and subsequently effected
by the Special Servicer; and

 

(xi)          such
other information as the Special Servicer deems relevant in light of the proposed action and Accepted Servicing Practices.

 

For
so long as there is no continuing Control Termination Event, if within 10 Business Days of receiving an Asset Status Report, the
Controlling Class Representative does not disapprove such Asset Status Report in writing, then the Controlling Class Representative
shall be deemed to have approved such Asset Status Report and the Special Servicer shall implement the recommended action as outlined
in such Asset Status Report; provided, however,

 

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that the Special Servicer may not take any action that is contrary
to applicable law, Accepted Servicing Practices, the Co-Lender Agreement or the terms of the applicable Loan Documents. In addition,
for so long as a Control Termination Event has not occurred and is not continuing, the Controlling Class Representative may object
to any Asset Status Report within 10 business days of receipt; provided, however, that if the Special Servicer determines
that emergency action is necessary to protect the Property or the interests of the Certificateholders and the Companion Loan Holders,
or if a failure to take any such action at such time would be inconsistent with Accepted Servicing Practices, the Special Servicer
may take actions with respect to the Property before the expiration of the 10 Business Day period if the Special Servicer reasonably
determines in accordance with Accepted Servicing Practices that failure to take such actions before the expiration of the 10 Business
Day period would materially and adversely affect the interest of the Certificateholders and the Companion Loan Holders, and (prior
to the occurrence and continuance of a Control Termination Event) the Special Servicer has made a reasonable effort to contact
the Controlling Class Representative. If, prior to the occurrence and continuance of any Control Termination Event, the Controlling
Class Representative disapproves such Asset Status Report within 10 Business Days of receipt and the Special Servicer has not
made an affirmative determination pursuant to the proviso in the preceding sentence, the Special Servicer will revise such Asset
Status Report and deliver to the Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination
Event), the Certificate Administrator, the related Companion Loan Holders and, subject to Section 10.17 of this Agreement,
each Rating Agency a new Asset Status Report as soon as practicable, but in no event later than 30 days after such disapproval.
Prior to the occurrence and continuance of any Control Termination Event, the Special Servicer shall revise such Asset Status
Report as described above until the Controlling Class Representative shall fail to disapprove such revised Asset Status Report
in writing within 10 Business Days of receiving such revised Asset Status Report or until the Special Servicer makes a determination,
consistent with Accepted Servicing Practices, that such objection is not in the best interests of all the Certificateholders and,
if applicable, the related Companion Loan Holders (as a collective whole as if such Certificateholders constitute a single lender
taking into account that the B Notes are junior to the A Notes).

 

The
Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and implement such report,
provided such report shall have been prepared, reviewed and not rejected pursuant to the terms of this Section. In any event,
for so long as a Control Termination Event has not occurred and is not continuing, if the Controlling Class Representative does
not approve an Asset Status Report within 60 Business Days from the first submission thereof, the Special Servicer shall take
such action as directed by the Controlling Class Representative, provided such action does not violate Accepted Servicing Practices.

 

Notwithstanding
anything to the contrary herein, after the occurrence and during the continuance of a Consultation Termination Event, the Controlling
Class Representative shall have no right to receive any Asset Status Report or otherwise consult with the Special Servicer with
respect to any matter set forth therein. After the occurrence and during the continuance of a Control Termination Event, the Controlling
Class Representative shall have no right to consent to any Asset Status Report under this Section 3.10(h).

 

The
Special Servicer shall be required to (x) deliver to the Certificate Administrator a proposed notice to the Certificateholders
that will include a summary of the

 

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current Asset Status Report in an electronic format which format is reasonably acceptable to
the Certificate Administrator (which shall be a brief summary of the current status of the Property and current strategy with
respect to the Whole Loan), and the Certificate Administrator shall be required to post such notice and summary (but not such
Asset Status Report) on the Certificate Administrator’s Website and (y) implement the Asset Status Report in the form delivered
to the Depositor. The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and,
following delivery of such modified Asset Status Report to the 17g-5 Information Provider and a summary of the same to the Certificate
Administrator, which the 17g-5 Information Provider and the Certificate Administrator, respectively shall post on their respective
websites pursuant to Section 8.14(b) or Section 10.17, as applicable, implement such report.

 

(i)          During
the continuance of a Special Servicing Loan Event, the Special Servicer shall have the authority to meet with the Loan Borrower
and take any actions consistent with Section 3.24, Accepted Servicing Practices and the most recent Asset Status Report.

 

(j)          In
addition, during the continuance of a Special Servicing Loan Event, on the last day of each Collection Period the Special Servicer
shall prepare and deliver to the Servicer the CREFC® Special Servicer Loan File with respect to the Whole Loan.

 

(k)         Beginning
in 2017, the Special Servicer shall prepare and file on a timely basis the reports of foreclosure and abandonment of the Property
required by Section 6050J of the Code and the reports of discharges of indebtedness income in respect of the Trust Loan and
each Companion Loan required by Section 6050P of the Code.

 

(l)          Notwithstanding
the foregoing, the Special Servicer shall not follow any advice, direction or consultation provided by the Controlling Class Representative
that would require or cause the Special Servicer to violate any applicable law or provisions of the Code resulting in an Adverse
REMIC Event (other than the imposition of a tax on “net income from foreclosure property”), be inconsistent with Accepted
Servicing Practices, require or cause the Special Servicer to violate provisions of this Agreement or the Co-Lender Agreement,
require or cause the Special Servicer to violate the terms of the Whole Loan, expose any Certificateholder or any party to this
Agreement or their Affiliates, officers, directors or agents to any claim, suit or liability or materially expand the scope of
the responsibilities of the Special Servicer or Servicer, as applicable, under this Agreement.

 

Section 3.11.     Maintenance
of Insurance and Errors and Omissions and Fidelity Coverage. (a)  The Servicer, consistent with Accepted
Servicing Practices and the Loan Documents, shall use efforts consistent with the Accepted Servicing Practices to cause to be
maintained by the Loan Borrower (or if the Loan Borrower fails to maintain such insurance in accordance with the Loan Agreement,
the Servicer shall cause to be maintained to the extent the Trustee, as mortgagee of record, has an insurable interest) insurance
with respect to the Property of the types and in the amounts required to be maintained (to the extent such insurance is available
at commercially reasonable rates, provided, that the commercially reasonably requirement shall not apply with respect to terrorism
insurance which will be governed by the Loan Documents) by the Loan Borrower under the Loan Documents. The cost of any such insurance
maintained by the Servicer shall be advanced by the Servicer, as a Property Protection

 

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Advance unless it would be a Nonrecoverable Advance in which case it shall be paid by the Trust, and as applicable, by the Companion
Loan Holders pursuant to the Co-Lender Agreement. Neither the Servicer nor the Special Servicer shall be required to maintain,
and shall not cause the Loan Borrower to be in default with respect to the failure of the Loan Borrower to obtain, all-risk casualty
insurance which does not contain any carve-out for terrorist or similar acts, if and only if the Special Servicer has determined,
on an annual basis, that such failure is an Acceptable Insurance Default. In making any determination related to an Acceptable
Insurance Default, the Special Servicer, to the extent consistent with Accepted Servicing Practices, is entitled to rely on the
opinion of an insurance consultant. Neither the Servicer nor the Special Servicer shall be required to obtain terrorism insurance
pursuant to this Agreement to the extent the Loan Borrower would not be obligated to maintain terrorism insurance under the Loan
Documents as in effect on the date thereof.

 

(b)          The
Special Servicer, consistent with Accepted Servicing Practices and the Loan Documents, shall cause to be maintained such insurance
(including environmental insurance) with respect to the Foreclosed Property the Loan Borrower is required to maintain with respect
to the Property referred to in subsection (a) of this Section 3.11 or, at the Special Servicer’s
election, coverage satisfying insurance requirements consistent with Accepted Servicing Practices. The cost of any such insurance
with respect to the Foreclosed Property shall be payable out of amounts on deposit in the Foreclosed Property Account or shall
be advanced by the Servicer as a Property Protection Advance unless such advance would be a Nonrecoverable Advance. Any such insurance
(other than terrorism insurance, which shall be maintained to the extent required under subsection (a)) that is required
to be maintained with respect to the Foreclosed Property shall only be so required to the extent such insurance is available at
commercially reasonable rates. If the Special Servicer requests the Servicer to make a Property Protection Advance in respect
of the premiums due in respect of such insurance, the Servicer shall, as soon as practicable after receipt of such request, make
such Property Protection Advance unless such Advance would be a Nonrecoverable Advance, and if the Servicer does not make such
Advance, the Trustee (within five (5) Business Days of its receipt of notice of the Servicer’s failure to make such Advance)
shall make an Advance of the premiums to maintain such insurance, provided that, in each such case, such obligations shall
be subject to the provisions of this Agreement concerning Nonrecoverable Advances, the Trustee as mortgagee of record having an
insurable interest and the availability of such insurance at commercially reasonable rates.

 

(c)          The
Servicer or the Special Servicer, as applicable, may satisfy its obligations to cause insurance policies to be maintained by maintaining
a master force placed or blanket insurance policy insuring against losses on the Property or the Foreclosed Property, as the case
may be for which coverage is otherwise required to be maintained as set forth in the preceding subsections of this Section 3.11.
The incremental cost of such insurance allocable to the Property or the Foreclosed Property, if not borne by the Loan Borrower,
shall be paid by the Servicer as a Property Protection Advance unless it would be a Nonrecoverable Advance. If such master force
placed or blanket insurance policy contains a deductible clause, the Servicer or the Special Servicer, as applicable, shall be
obligated to deposit in the Collection Account out of its own funds all sums that would have been deposited therein but for such
clause to the extent any such deductible exceeds the deductible limitation that pertained to the Whole Loan, or in the

 

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absence
of any such deductible limitation, the deductible limitation that is consistent with Accepted Servicing Practices.

 

(d)          Each
of the Servicer and the Special Servicer shall obtain and maintain at its own expense, and keep in full force and effect throughout
the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy, the issuer of which is rated
no lower than the applicable Qualified Insurer Ratings, covering its directors, officers and employees, as applicable, in connection
with its activities under this Agreement. Each such insurance policy shall protect the Servicer or the Special Servicer, as applicable,
against losses resulting directly from forgery, theft, embezzlement, fraud, errors and omissions of such covered persons. Coverage
of the Servicer or the Special Servicer under a policy or bond obtained by an Affiliate thereof and providing the coverage required
by this Section 3.11(d) shall satisfy the requirements of this Section 3.11(d). The amount of coverage
shall be at least equal to the coverage that is required by applicable governmental authorities having regulatory power over the
Servicer and the Special Servicer. If no such coverage amounts are imposed by such regulatory authorities, the amount of coverage
shall be at least equal to the coverage that would be required by FNMA or FHLMC with respect to the Servicer and the Special Servicer
if each were servicing and administering the Whole Loan for FNMA or FHLMC or as otherwise approved by FNMA or FHLMC. In the event
that any such bond or policy ceases to be in effect, the Servicer or the Special Servicer, as applicable, shall obtain a comparable
replacement bond or policy. Each shall use reasonable effort to cause each and every sub-servicer, if any, to maintain a blanket
fidelity bond and an errors and omissions insurance policy meeting the requirements as described above. In lieu of the foregoing,
but subject to this Section 3.11, the Servicer and the Special Servicer shall be entitled to self-insure with respect
to such risks so long as its (or its immediate or ultimate parent’s) long term unsecured debt rating is rated no lower than
“A-” by S&P, “A3” by Moody’s or “A-” by Fitch.

 

(e)          No
provision of this Section 3.11 requiring such fidelity bond and errors and omissions insurance shall diminish or relieve
the Servicer or the Special Servicer from its duties and obligations as set forth in this Agreement. The Certificate Administrator
shall be entitled to request, upon receipt of a written request from any Certificateholder, and the Servicer and the Special Servicer
shall each deliver or cause to be delivered to the Certificate Administrator, a certificate of insurance from the surety and insurer
certifying that such insurance is in full force and effect. The Certificate Administrator will make any such certificate of insurance
available to the requesting Certificateholder on a confidential basis.

 

Section 3.12.     Procedures
with Respect to the Trust Loan; Realization upon the Property. (a)  Upon the occurrence of a Loan Event of
Default, the Special Servicer on behalf of the Trustee, subject to the terms of the Loan Documents and consistent with Accepted
Servicing Practices, shall promptly pursue the remedies set forth therein, including foreclosure or other realization on the Property
and the other collateral for the Trust Loan. In connection with any foreclosure, enforcement of the Loan Documents or other realization
on the Collateral, the Special Servicer shall direct the Servicer to, and the Servicer shall, pay the costs and expenses in any
such proceedings as a Property Protection Advance unless the Servicer determines, in accordance with Accepted Servicing Practices,
that such Advance would constitute a Nonrecoverable Advance.

 

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(b)          Such
proposed acceleration of the Whole Loan and/or foreclosure on the Property shall be taken unless the Special Servicer waives such
Loan Event of Default (or modifies or amends the Whole Loan to cure the Loan Event of Default), which the Special Servicer may
do if such modification, waiver or amendment is consistent with Accepted Servicing Practices and does not result in an Adverse
REMIC Event (other than the imposition of a tax on “net income from foreclosure property” under Section 860G(c)) of
the Code.

 

(c)          In
connection with such foreclosure as described in Section 3.12(a) or other realization on the Property, the Special
Servicer shall follow Accepted Servicing Practices; provided, however, that the Special Servicer shall not be permitted
to direct the Servicer, and neither the Special Servicer nor the Servicer shall be required, to expend its own funds to restore
the Property damaged by an Uninsured Cause unless the Servicer or the Special Servicer, as applicable, permitted the related insurance
policy to lapse in violation of its respective obligations hereunder. If the Servicer does expend its own funds to restore the
Property damaged by an Uninsured Cause (which insurance policy did not lapse in violation of the Servicer’s obligations),
such expense shall be a Property Protection Advance. In connection with any foreclosure, enforcement of the Loan Documents or
other realization on the Collateral, the Special Servicer shall direct the Servicer to, and the Servicer shall, pay the costs
and expenses in any such proceedings as a Property Protection Advance unless the Servicer determines, in accordance with Accepted
Servicing Practices, that such Advance would constitute a Nonrecoverable Advance.

 

(d)          Notwithstanding
the foregoing, the Special Servicer may not foreclose on the Property on behalf of the Trust Fund and the Companion Loan Holders
and thereby be the beneficial owner of the Property, or take any other action with respect to such item that would cause the Trustee,
on behalf of the Trust Fund and the Companion Loan Holders, to be considered to hold title to, to be a “mortgagee-in-possession”
of, or to be an “owner” or “operator” of the Property within the meaning of CERCLA or any comparable law,
unless the Special Servicer has previously determined, based on a report prepared at the expense of the Trust Fund by an independent
person who regularly conducts site assessments for purchasers of comparable properties (a copy of such report to be provided to
the Companion Loan Holders, the Trustee and the Certificate Administrator by the Special Servicer), that (i) the Property
is in compliance with applicable environmental laws or that taking the remedial actions necessary to comply with such laws is
reasonably likely to produce a greater recovery on a present value basis than not taking such actions and (ii) there are
no circumstances known to the Special Servicer relating to the use of hazardous substances or petroleum-based materials which
require investigation or remediation, or that if such circumstances exist taking such remedial actions is reasonably likely to
produce a greater recovery on a net present value basis than not taking such actions. The Special Servicer shall deliver a copy
of any such report to the Rating Agencies, subject to Section 10.17.

 

If
the Special Servicer has so determined based on satisfaction of the criteria in this Section 3.12(d) that it would
be in the best economic interest of the Trust Fund and the Companion Loan Holders (as a collective whole as if the Trust Fund
and the Companion Loan Holders constituted a single lender taking into account that the B Notes are junior to the A Notes) (as
determined in accordance with Accepted Servicing Practices) to institute a foreclosure or take any other actions described in
the immediately preceding paragraph, then subject to the

 

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rights of the Controlling Class Representative to consent to and/or consult
in respect of such action, as applicable, the Special Servicer shall take such proposed action. The Special Servicer shall not
foreclose upon or otherwise cause the Trust to acquire ownership of any Collateral other than the Property unless it receives
an Opinion of Counsel (the cost of which shall be paid by the Servicer as a Property Protection Advance unless the Servicer determines
that such Property Protection Advance would constitute a Nonrecoverable Advance) to the effect that such acquisition will not
result in an Adverse REMIC Event (other than the imposition of a tax on “net income from foreclosure property” under
Section 860G(e) of the Code).

 

The
Special Servicer shall direct the Servicer to, and the Servicer shall, advance the cost of any such compliance, containment, clean
up or remediation as a Property Protection Advance unless the Servicer determines, in accordance with Accepted Servicing Practices,
that such Advance would constitute a Nonrecoverable Advance.

 

(e)          The
environmental site assessments contemplated by Section 3.12(d) shall be prepared by any Independent Person who regularly
conducts environmental site assessments for purchasers of comparable properties, as determined by the Servicer in a manner consistent
with Accepted Servicing Practices. The cost of each such environmental site assessment shall qualify as a Property Protection
Advance and shall be advanced by the Servicer unless the Servicer determines that such Advance would constitute a Nonrecoverable
Advance.

 

(f)          Notwithstanding
any acquisition of title to the Property following a Loan Event of Default under the Whole Loan and cancellation of the Whole
Loan, the Trust Loan and the Companion Loans, the Trust Loan and each Companion Loan shall be deemed to remain outstanding and,
in the case of the Trust Loan, held in the Trust Fund for purposes of the application of collections and shall be reduced only
by collections net of expenses. For purposes of all calculations hereunder, so long as the Trust Loan and any Companion Loan shall
be deemed to remain outstanding, (i) it shall be assumed that the unpaid principal balance of the Trust Loan and the Companion
Loans immediately after any discharge is equal to the unpaid principal balance of the Trust Loan or the Companion Loan immediately
prior to such discharge and (ii) Foreclosure Proceeds shall be applied as provided in Section 1.3(b) and the
Co-Lender Agreement.

 

(g)          Notwithstanding
any provision herein to the contrary, the Special Servicer shall not acquire and hold for the benefit of the Trust Fund any personal
property (including any non-real property Collateral) pursuant to this Section 3.12 unless:

 

(i)           such
personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by the
Special Servicer; or

 

(ii)          the
Special Servicer shall have obtained an Opinion of Counsel (the cost of which shall be paid by the Servicer as a Property Protection
Advance unless the Servicer determines that such Property Protection Advance would constitute a Nonrecoverable Advance in which
case it shall be treated as a trust fund expense) to the effect that the holding of such personal property by the Trust Fund will
not result in an Adverse REMIC Event at any time that any Uncertificated Lower-Tier Interest or Certificate is outstanding (and
such Opinion of Counsel may be premised on the

 

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designation hereby of any such personal property as being deemed part of an “outside
reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h) with the owner of such personal property for
federal income tax purposes to be designated at such time)).

 

Section 3.13.     Certificate
Administrator to Cooperate; Release of Items in the Mortgage File. From time to time and as appropriate for the
servicing of the Whole Loan or Foreclosure of or realization on the Property, the Certificate Administrator shall, upon
receipt of written request of a Servicing Officer of the Servicer or the Special Servicer and delivery to the Certificate
Administrator of a receipt for release in the form of Exhibit B hereto, release or cause to be released any items
from the Mortgage File to the Servicer or the Special Servicer, as the case may be, within the lesser of (i) seven (7)
calendar days and (ii) five (5) Business Days of its receipt of the related receipt for release. The Special Servicer
shall institute all Foreclosures as an authorized delegate of the Trustee, on behalf of the Trust Fund and the Companion Loan
Holders. In the event the Special Servicer cannot institute a Foreclosure in its own name, the Special Servicer shall notify
the Trustee and the Trustee shall reasonably cooperate with the Special Servicer in connection with any prosecution of any
Foreclosure (including at the written request of a Servicing Officer of the Special Servicer, execute such documents
furnished to it as shall be necessary to the prosecution of any such Foreclosure). Such receipt for release shall obligate
the Servicer or the Special Servicer to (and the Servicer or Special Servicer, as applicable, shall) return such items to the
Certificate Administrator when the need therefor by the Servicer or the Special Servicer no longer exists.

 

Section 3.14.     Title
and Management of Foreclosed Property. (a)  In the event that title to the Property is acquired for the
benefit of the Certificateholders and the Companion Loan Holders in foreclosure or by deed-in-lieu of foreclosure or
otherwise, the deed, certificate of sale or other comparable document shall be taken in the name of the Trustee, or its
nominee (which shall not include the Special Servicer), on behalf of the Trust Fund and the Companion Loan Holders or as
otherwise contemplated pursuant to Section 8.10. Title may be taken in the name of a special-purpose entity
wholly-owned by the Trust and which is managed by the Special Servicer (the costs of which shall be advanced by the Servicer, provided
that such Advance would not be a Nonrecoverable Advance). Promptly after such acquisition of title, the Special Servicer
shall consult with counsel to determine when an Acquisition Date shall be deemed to occur under the REMIC Provisions with
respect to such Property, the expense of such consultation being treated as a Property Protection Advance. The Special
Servicer, on behalf of the Trust Fund and the Companion Loan Holders, shall dispose of any Foreclosed Property held by the
Trust Fund as expeditiously as appropriate in accordance with Accepted Servicing Practices, but in any event within the time
period, and subject to the conditions, set forth in Sections 3.15 and Section 12.2. Subject to Sections
12.2 and 3.14(e), the Special Servicer shall hire on behalf of the Trust Fund and the Companion Loan Holders a
Successor Manager to manage, conserve, protect and operate such Foreclosed Property for the Certificateholders and the
Companion Loan Holders solely for the purpose of its prompt disposition and sale in a manner which does not cause
such Foreclosed Property to fail to qualify as “foreclosure property” within the meaning of
Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of
Section 860D(a) of the Code) and such that income from the operation or sale of such property does not result in
receipt by the Trust Fund of any income from non-permitted assets as described in Section 860F(a)(2)(B) of the Code with

 

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respect to such property. In connection with such management, the Successor Manager shall be entitled to the REO Management
Fee solely from the Foreclosed Property Account or the Collection Account.

 

(b)          The
Special Servicer shall segregate and hold all funds collected and received in connection with the operation of the Foreclosed
Property separate and apart from its own funds and general assets and shall establish and maintain with respect to the Foreclosed
Property a Foreclosed Property Account in either (A) the name of the Special Servicer on behalf of the Trustee pursuant to Section 3.6
or (B) the name of a special-purpose entity wholly owned by the Trust and managed by the Special Servicer.

 

(c)          The
Special Servicer shall have full power and authority, subject to Accepted Servicing Practices and the specific requirements and
prohibitions of this Agreement, to do any and all things in connection with the Foreclosed Property for the benefit of the Trust
Fund and the Companion Loan Holders (as a collective whole as if the Trust Fund and the Companion Loan Holders constituted a single
lender taking into account that the B Notes are junior to the A Notes) on such terms as are appropriate and necessary for the
efficient operation or liquidation, as applicable, of the Foreclosed Property, so long as the Special Servicer deems such actions
to be consistent with Accepted Servicing Practices. Without limiting the generality of the foregoing, the Special Servicer may
retain an independent contractor to operate and manage the Foreclosed Property; provided, however, the retention
of an independent contractor will not relieve the Special Servicer of its obligations hereunder with respect to the Foreclosed
Property.

 

The
Special Servicer shall deposit or cause to be deposited on a daily basis in the Foreclosed Property Account all revenues received
with respect to the Foreclosed Property, and the Special Servicer shall cause to be withdrawn therefrom funds necessary for the
proper operation, management and maintenance of the Foreclosed Property and for other expenses related to the preservation and
protection of the Foreclosed Property, including, but not limited to:

 

(i)           all
insurance premiums due and payable in respect of the Foreclosed Property;

 

(ii)          all
taxes, assessments, charges or other similar items in respect of the Foreclosed Property that could result or have resulted in
the imposition of a lien thereon; and

 

(iii)         all
costs and expenses necessary to preserve the Foreclosed Property, including the payment of ground rent, if any.

 

To
the extent that amounts on deposit in the Foreclosed Property Account are insufficient for the purposes set forth in clauses (i)
through (iii) above, the Special Servicer shall direct the Servicer to, and the Servicer shall, make a Property Protection Advance
unless the Servicer determines, in accordance with Accepted Servicing Practices, that such Advance would constitute a Nonrecoverable
Advance.

 

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(d)          On
or before the last day of each Collection Period, the Special Servicer shall withdraw from the Foreclosed Property Account and
deposit into the Collection Account the proceeds and collections received or collected since the preceding Remittance Date through
the Business Day prior to the Remittance Date on or with respect to the Foreclosed Property (including any funds no longer needed
in any reserves established as provided below), net of expenses paid therefrom and amounts reasonably expected to be needed to
fund any reserves deemed necessary for the operation, preservation and protection of the Foreclosed Property, including without
limitation, the creation of reasonable reserves for working capital, repairs, replacements and necessary capital improvements
and other related expenses.

 

(e)          The
Special Servicer, in the name of the Trust Fund, shall (subject to Section 3.14(a)) contract with any Successor Manager
for the operation and management of Foreclosed Property; provided that no such contract shall impose individual liability
on the Trustee or the Trust; provided, further, that:

 

(i)           the
terms and conditions of any such contract shall not be inconsistent herewith;

 

(ii)          any
such contract shall require, or shall be administered to require, that the Successor Manager (A) request that the Special
Servicer pay from the Foreclosed Property Account all costs and expenses incurred in connection with the operation and management
of the Foreclosed Property, and (B) remit all related revenues (net of such costs and expenses) to the Special Servicer,
as soon as practicable but in no event later than the Business Day immediately following receipt, for deposit into the Foreclosed
Property Account;

 

(iii)         none
of the provisions of this Section 3.14 relating to any such contract or to actions taken through any such Successor
Manager shall be deemed to relieve the Special Servicer of any of its ordinary and regularly recurring duties and obligations
to the Trust Fund on behalf of the Certificateholders and the Companion Loan Holders with respect to the operation and management
of the Foreclosed Property; and

 

(iv)          the
Successor Manager shall be permitted to perform construction (including renovations) on the Foreclosed Property only if the construction
was more than 10% complete at the time default on the Whole Loan became imminent.

 

The
Special Servicer shall be entitled, and to the extent required by the REMIC Provisions, shall be required, to enter into an agreement
with any Independent Contractor performing services for it related to its duties and obligations hereunder for indemnification
of the Special Servicer by such Independent Contractor, and nothing in this Agreement shall be deemed to limit or modify such
indemnification. All REO Management Fees shall be Trust Fund Expenses payable from the Foreclosed Property Account or subject
to reimbursement pursuant to Section 3.4(c)(xi). The Special Servicer agrees to monitor the performance of the Successor
Manager and to enforce the obligations of the Successor Manager on behalf of the Trust Fund and the Companion Loan Holders. Expenses
incurred by the Special Servicer in connection herewith shall qualify as Property Protection Advances.

 

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Section 3.15.     Sale
of Foreclosed Property. (a)  The Special Servicer, on behalf of the Trust Fund, shall sell the Foreclosed
Property on a servicing released basis as expeditiously as appropriate in accordance with Accepted Servicing Practices in a manner
designed to preserve the capital of the Certificateholders and the Companion Loan Holders and not with a view to the maximization
of profit, but in no event later than the Rated Final Distribution Date in a manner provided under this Section 3.15
and subject to Section 12.2.

 

(b)          Subject
to the consent or consultation rights of the Controlling Class Representative set forth in Section 6.5, the Special
Servicer shall accept the highest cash bid for the Foreclosed Property received from any person that is at least equal to the
Par Price attributable to the Foreclosed Property. Notwithstanding the foregoing, in the absence of any such bid, the Special
Servicer shall accept the highest cash bid, if the highest offeror is a Person other than an Interested Person, that the Special
Servicer (or the Trustee as provided in the next sentence) determines is a fair price based on Appraisals obtained within the
last nine (9) months. If the highest bidder is an Interested Person, the Trustee shall determine the fairness of the highest bid
based upon an Appraisal (which may be an Appraisal obtained in the last nine (9) months by the Special Servicer) obtained at the
expense of the Trust Fund, and the Trustee may conclusively rely on the opinion of such Appraisal and such determination shall
be binding upon all parties. The requirements of this Agreement may result in lower sales proceeds than would otherwise be the
case. Notwithstanding the foregoing, and subject to the rights of the Controlling Class Representative, the Special Servicer shall
not be obligated to accept the higher cash offer if the Special Servicer determines, in accordance with Accepted Servicing Practices,
that rejection of such offer would be in the best interests of the Certificateholders and the Companion Loan Holders (as a collective
whole, as if such Certificateholders and the Companion Loan Holders constituted a single lender taking into account that the B
Notes are junior to the A Notes), and the Special Servicer may accept a lower cash offer (from any person other than an Interested
Person) if it determines, in accordance with Accepted Servicing Practices, that acceptance of such offer would be in the best
interests of the Certificateholders and the Companion Loan Holders (as a collective whole, as if such Certificateholders and the
Companion Loan Holders constituted a single lender taking into account that the B Notes are junior to the A Notes). Any Holder
of a Controlling Class Certificate, the Controlling Class Representative or any affiliate of the foregoing shall be entitled to
participate in, and submit a bid in connection with, any sale of Foreclosed Property, to the same extent as any other Certificateholder;
provided that any such Holder of a Controlling Class Certificate and the Controlling Class Representative shall for all
purposes be considered an Interested Person.

 

(c)          Subject
to the provisions of Section 3.14, the Special Servicer shall act on behalf of the Trust Fund and the Companion Loan
Holders in negotiating and taking any other action necessary or appropriate in connection with the sale of the Foreclosed Property,
including the collection of all amounts payable in connection therewith. Any sale of a Foreclosed Property shall be without recourse
to the Certificate Administrator, the Trustee, the Depositor, the Servicer, the Special Servicer, the Trust Fund, the Certificateholders
or the Companion Loan Holders) (except that any contract of sale and assignment and conveyance documents may contain customary
warranties, so long as the only recourse for breach thereof is to the Trust Fund) and if consummated in accordance with the terms
of this Agreement, none of the Certificate Administrator, the Trustee, the Depositor or the Special Servicer shall have any

 

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liability
to any Certificateholder with respect to the purchase price thereof accepted by the Special Servicer or the Trustee.

 

(d)          The
proceeds of any sale effected pursuant to this Section 3.15, after deduction of the expenses incurred in connection
therewith, shall be deposited in the Collection Account in accordance with Section 3.4(a).

 

(e)          Within
30 days of the sale of a Foreclosed Property, the Special Servicer shall provide to the Trustee, the Companion Loan Holders
and the Certificate Administrator a statement of accounting for the Foreclosed Property, including, without limitation, (i) the
date the Foreclosed Property was acquired in foreclosure or by deed-in-lieu of foreclosure or otherwise, (ii) the date of
disposition of such Foreclosed Property, (iii) the gross sale price and related selling and other expenses, (iv) accrued
interest with respect to the Repurchase Price of the Foreclosed Property, calculated from the date of acquisition to the disposition
date, and (v) such other information as the Trustee or the Certificate Administrator may reasonably request.

 

Section 3.16.     Sale
of the Whole Loan and the Trust Loan.    (i) Promptly upon the Whole Loan becoming a Defaulted Mortgage Loan,
the Special Servicer shall order (but shall not be required to have received) an Appraisal. The Servicer shall use reasonable
efforts to promptly notify in writing the Special Servicer, the Certificate Administrator, and the Companion Loan Holders, the
Controlling Class Representative (so long as no Consultation Termination Event is continuing) and the Trustee of the occurrence
of such Special Servicing Loan Event. Upon delivery by the Servicer of the notice described in the preceding sentence, the Special
Servicer may offer to sell to any Person, the Whole Loan or may offer to purchase the Whole Loan, if and when the Special Servicer
determines, consistent with Accepted Servicing Practices, that no satisfactory arrangements can be made for collection of delinquent
payments thereon and such a sale would be in the best economic interests of the Trust and the Companion Loan Holders (as a collective
whole, as if such Certificateholders and the Companion Loan Holders constituted a single lender taking into account that the B
Notes are junior to the A Notes) on a net present value basis. The Special Servicer shall provide the Servicer, the Companion
Loan Holders, the Certificate Administrator, the Controlling Class Representative (so long as no Consultation Termination Event
is continuing) and the Trustee not less than five (5) Business Days’ prior written notice of its intention to sell the Whole
Loan, in which case the Special Servicer is required to accept the highest offer received from any Person (other than any Interested
Person) for the Whole Loan in an amount at least equal to the Par Price or, at its option, if it has received no offer at least
equal to the Par Price therefor, the Special Servicer may purchase the Whole Loan at the Par Price. Any Companion Loan is to be
sold together with the Trust Loan, subject to this Section 3.16 and any additional requirements set forth in the Co-Lender
Agreement.

 

(ii)          In
the absence of any offer at least equal to the Repurchase Price (or purchase by the Special Servicer for the Repurchase Price),
the Special Servicer shall accept the highest offer received that is determined by the Special Servicer (or the Trustee as provided
in the next sentence) to be a fair price for the Whole Loan, if the highest offeror is a Person other than the Trustee. If the
highest bidder is an Interested Person, the Trustee shall determine the fairness of the highest bid based upon an

 

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Appraisal (which
may be an Appraisal obtained in the last nine (9) months by the Special Servicer) obtained at the expense of the Trust Fund, and
the Trustee may conclusively rely on the opinion of such Appraisal and such determination shall be binding upon all parties. All
reasonable costs and fees of the Trustee in making such determination will be reimbursable to it first, by the Servicer as an
Advance, subject to the Servicer’s determination that such amounts are not Nonrecoverable Advances, and then as an expense
of the Trust. The Trustee, in its individual capacity, may not make an offer for or purchase the Whole Loan.
Notwithstanding anything contained in this Section 3.16 to the contrary, if the Trustee is required to determine
whether a cash offer by an Interested Person constitutes a fair price, the Trustee may (at its option and at the expense of the
Interested Person) designate an independent third party expert in real estate or commercial mortgage loan matters with at least
5 years’ experience in valuing or investing in loans similar to the Trust Loan that has been selected with reasonable care
by the Trustee to determine if such cash offer constitutes a fair price for the Trust Loan. If the Trustee designates such a third
party to make such determination, the Trustee will be entitled to rely conclusively upon such third party’s determination.
The reasonable costs of all appraisals, inspection reports and broker opinions of value incurred by any such third party pursuant
to this paragraph will be covered by, and will be paid in advance by the Interested Person as a condition to the Trustee’s
determination; provided that the Trustee will not engage a third party expert whose fees exceed a commercially reasonable
amount as determined by the Trustee. Any Holder of a Controlling Class Certificate, the Controlling Class Representative or any
Affiliate of the foregoing will be entitled to participate in, and submit a bid in connection with, any sale of the Trust Loan
to the same extent as any other Certificateholder; provided that any such Holder of a Controlling Class Certificate and
the Controlling Class Representative shall for all purposes be considered an Interested Person.

 

(iii)          The
Special Servicer shall not be obligated to accept the highest offer if the Special Servicer determines, in accordance with Acceptable
Servicing Practices, that the rejection of such offer would be in the best interests of the Holders of the Certificates and the
Companion Loan Holders (as a collective whole, as if such Certificateholders and the Companion Loan Holders constituted a single
lender taking into account that the B Notes are junior to the A Notes). In addition, the Special Servicer may accept a lower offer
if it determines, in accordance with Acceptable Servicing Practices, that the acceptance of such offer would be in the best interests
of the Holders of the Certificates and the Companion Loan Holders (as a collective whole, as if such Certificateholders and the
Companion Loan Holders constituted a single lender taking into account that the B Notes are junior to the A Notes), provided
that the offeror is not the holder of the Controlling Class, the Special Servicer or a Person that is an Affiliate of any
of them. So long as no Consultation Termination Event is continuing, the foregoing rights of the Special Servicer shall be subject
to the rights of the Controlling Class Representative. The Special Servicer shall use reasonable efforts to sell the Whole Loan
prior to the Rated Final Distribution Date.

 

(iv)          Unless
and until the Whole Loan is sold pursuant to this Section 3.16(a), the Special Servicer shall pursue such other resolution strategies
with respect to the Whole Loan, including, without limitation, workout and foreclosure, as the Special

 

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Servicer may deem appropriate,
consistent with the Asset Status Report and Acceptable Servicing Practices and the REMIC Provisions.

 

(b)          The
right of the Special Servicer to purchase or sell the Whole Loan after the occurrence of a Special Servicing Loan Event shall
terminate, and shall not be exercisable as set forth in clause (a) above (or if exercised but the purchase of the Whole Loan
has not yet occurred, the Special Servicer’s right shall terminate and such exercise shall be of no further force or effect)
if the Whole Loan is no longer delinquent as a result of any of the following: (i) the Special Servicing Loan Event has ceased
pursuant to the terms of this Agreement, (ii) the Whole Loan has become subject to a fully executed agreement reflecting
the terms of the workout arrangement, or (iii) the Whole Loan has otherwise been resolved (including by a full or discounted
pay-off).

 

(c)          Any
sale of the Whole Loan shall be for cash only, and shall be in accordance with and subject to the provisions of the Co-Lender
Agreement.

 

(d)          Notwithstanding
anything to the contrary herein, the Special Servicer shall not sell the Whole Loan pursuant to Section 3.16(a) without
the written consent of the Companion Loan Holder (provided that such consent is not required from a Companion Loan Holder if such
Companion Loan Holder is the Loan Borrower or an Affiliate of the Loan Borrower) unless the Special Servicer has delivered to
the Companion Loan Holder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell the Whole
Loan; (b) at least 10 days prior to the permitted sale date, a copy of each bid package (together with any material amendments
to such bid packages) received by the Special Servicer in connection with any such proposed sale; (c) at least 10 days prior
to the proposed sale date, a copy of the most recent appraisal for the Property, and any documents in the Loan File reasonably
requested by such Companion Loan Holder that are material to the price of the Whole Loan; and (d) until the sale is completed,
and a reasonable period of time (but no less time than is afforded to other offerors) prior to the proposed sale date, all information
and other documents being provided to other offerors and all leases or other documents that are approved by the Servicer or the
Special Servicer in connection with the proposed sale; provided, that such Companion Loan Holder may waive any of the delivery
or timing requirements set forth in this sentence. The Companion Loan Holder will be permitted to make offers to purchase, and
either such party is permitted to be the purchaser at any sale of, the Whole Loan.

 

Section 3.17.     Servicing
Compensation. The Servicer shall be entitled to receive the Servicing Fee with respect to the Trust Loan and the
Companion Loans payable monthly from the Collection Account or otherwise in accordance with and subject to Section 3.4(c).
The Servicer shall be entitled to retain as compensation any late payment charges and certain other customary charges and
fees to the extent described below, as well as reimbursement for all other costs or expenses incurred by it in performing its
duties hereunder, in each case, to the extent actually received from the Loan Borrower and permitted by, or not prohibited
by, and to be allocated to such amounts by the terms of the Loan Documents and this Agreement, other than: (i) fees of
any sub-servicer and the expenses of any sub-servicer that would not be reimbursable to Servicer if such expenses were
incurred by the Servicer; (ii) the cost of any fidelity bond or errors and omissions policy required by Section 3.11(d);
(iii) overhead expenses of the Servicer including but not limited to those which may properly be allocable under the
Servicer’s

 

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accounting
system or otherwise to the Servicer’s activities under this Agreement or the income derived by it hereunder including
the costs to the Servicer associated with employees of the Servicer performing services in connection with the obligations of
the Servicer hereunder; and (iv) costs and expenses arising from the negligence, bad faith or willful misconduct of the
Servicer in performing its obligations hereunder (the “Servicer Customary Expenses”). So long as no
Special Servicing Loan Event has occurred and is continuing, the Servicer shall also be entitled to retain as additional
servicing compensation any late payment fees and Default Interest (including any late payment fees and Default Interest
collected after the occurrence of a Special Servicing Loan Event but accrued prior to such Special Servicing Loan Event) (to
the extent not applied pursuant to Section 3.4(c)), assumption fees, assumption application fees, defeasance
fees, consent fees, substitution fees, release fees, Modification Fees (subject to the last paragraph of this Section 3.17),
loan service transaction fees and similar fees and expenses to the extent, with respect to any such amounts, collected and
allocated to such amounts as permitted by (or not otherwise prohibited by) the terms of the Loan Documents and this
Agreement; provided, however, that the Servicer shall not be entitled to apply or retain any Default Interest
or any late payment charges, with respect to the Whole Loan, with respect to which a default thereunder or Loan Event of
Default is continuing unless and until such default or Loan Event of Default has been cured and all delinquent amounts
(including any Default Interest) due with respect to the Whole Loan have been paid in full and all interest on Advances has
been paid in full. In addition, the Servicer shall be entitled to retain as additional servicing compensation
any income earned (net of losses to the extent provided in this Agreement) on the investment of funds deposited in the
Collection Account and any Reserve Account (to the extent not payable to the Loan Borrower).

 

If
a Special Servicing Loan Event occurs and is continuing, the Special Servicer shall be entitled to receive a Special Servicing
Fee with respect to the Trust Loan and the Companion Loans for so long as such Special Servicing Loan Event continues as well
as reimbursement for all other costs or expenses incurred by it in performing its duties hereunder other than: (i) the cost
of any fidelity bond or errors and omissions policy required by Section 3.11(d); (ii) overhead expenses of the
Special Servicer including but not limited to those which may properly be allocable under the Special Servicer’s accounting
system or otherwise to the Special Servicer’s activities under this Agreement or the income derived by it hereunder including
the costs to the Special Servicer associated with employees of the Special Servicer performing services in connection with the
obligations of the Special Servicer hereunder; and (iii) costs and expenses arising from the negligence, bad faith or willful
misconduct of the Special Servicer in performing its obligations hereunder (the “Special Servicer Customary Expenses”).
If a Special Servicing Loan Event is terminated following resolution of such Special Servicing Loan Event by a written agreement
with the Loan Borrower negotiated by the Special Servicer, the Special Servicer shall be entitled to receive the Workout Fee.
If at any time the Whole Loan becomes a Specially Serviced Loan, the Special Servicer shall use reasonable efforts, consistent
with Accepted Servicing Practices, to collect the amount of any Special Servicing Fee, Liquidation Fee and/or Workout Fee from
the Loan Borrower pursuant to Section 9.16 of the Loan Agreement, including exercising all remedies available under
the Loan Agreement that would be in accordance with Accepted Servicing Practices, specifically taking into account the costs or
likelihood of success of any such collection efforts and the Realized Loss that would be incurred by Certificateholders in connection
therewith as opposed to the Realized Loss that would be incurred as a result of not collecting such amounts from the Loan

 

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Borrower.
Notwithstanding anything herein to the contrary, with respect to any Collection Period, the Special Servicer shall only be entitled
to receive a Workout Fee or a Liquidation Fee, but not both.

 

If
the Special Servicer is terminated (other than for cause) or resigns after such written agreement is entered into and before or
after the Special Servicing Loan Event is terminated, it shall retain the right to receive any and all Workout Fees on all payments
of principal and interest made on the Whole Loan following such written agreement (negotiated by such Special Servicer prior to
its termination or resignation) for so long as another Special Servicing Loan Event does not occur and the successor Special Servicer
shall have no rights with respect to such Workout Fee. In addition, the Special Servicer shall be entitled to receive a Liquidation
Fee with respect to any Liquidated Property or the liquidation of the Whole Loan or the Notes (whether through judicial foreclosure,
sale, discounted payoff or other liquidation) as to which the Special Servicer receives Liquidation Proceeds. The Special Servicing
Fee and any Liquidation Fee payable from Liquidation Proceeds (and not the Loan Borrower) shall be payable from funds on deposit
in the Collection Account as provided in Section 3.4(c). The Special Servicer during the continuance of a Special
Servicing Loan Event shall also be entitled to retain as additional servicing compensation any late payment fees (to the extent
not applied pursuant to Section 3.4(c)), Default Interest (to the extent not applied pursuant to Section 3.4(c)),
assumption fees, assumption application fees, Modification Fees (subject to the last paragraph of this Section 3.17),
consent fees, defeasance fees and similar fees and expenses and any income earned (net of losses to the extent provided in this
Agreement) on the investment of funds deposited in the Foreclosed Property Account.

 

Notwithstanding
any other provision in this Agreement, neither the Servicer nor the Special Servicer, as applicable, shall be entitled to reimbursement
for an expense incurred under this Agreement or in connection with the performance of its duties hereunder unless (i) the
amount of such payment to the Servicer or the Special Servicer, as the case may be, is reimbursed to the Trust Fund by the Loan
Borrower (to the extent the Loan Borrower is required to do so under the Loan Agreement); (ii) failure of the Loan Borrower
to reimburse for such payment constitutes a Loan Event of Default; (iii) such expense is an “unanticipated expense
incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii) or is otherwise an unanticipated
expense (it being understood that the Servicer Customary Expenses and the Special Servicer Customary Expenses are not unanticipated);
or (iv) such reimbursement is expressly provided for herein or such expense is expressly described herein as an expense of
the Trust Fund or as an Advance.

 

Except
as otherwise expressly provided herein, no transfer, sale, pledge or other disposition of the Servicer’s right to receive
all or any portion of the Servicing Fee (or the Special Servicer’s right to receive all or any portion of the Special Servicing
Fee) or other servicing compensation provided for herein shall be made, and any such attempted transfer, sale, pledge or other
disposition shall be void, unless such transfer is made to a successor Servicer or successor Special Servicer, as applicable,
in connection with the assumption by such successor of the duties hereunder pursuant to Section 7.2.

 

Midland
Loan Services, a Division of PNC Bank, National Association and any successor holder of the Excess Servicing Fee Rights shall
be entitled, at any time, at its own

 

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expense, to transfer, sell, pledge or otherwise assign such Excess Servicing Fee Rights in
whole (but not in part), to any QIB or Institutional Accredited Investor (other than a Benefit Plan), provided that no such transfer,
sale, pledge or other assignment shall be made unless (i) that transfer, sale, pledge or other assignment is exempt from
the registration and/or qualification requirements of the Securities Act and any applicable state securities laws and is otherwise
made in accordance with the Securities Act and such state securities laws, (ii) the prospective transferor shall have delivered
to the Depositor a certificate substantially in the form attached as Exhibit Y-1 hereto, and (iii) the prospective
transferee shall have delivered to Midland Loan Services, a Division of PNC Bank, National Association and the Depositor a certificate
substantially in the form attached as Exhibit Y-2 hereto. None of the Depositor, the Trustee or the Certificate Registrar
is obligated to register or qualify an Excess Servicing Fee Right under the Securities Act or any other securities law or to take
any action not otherwise required under this Agreement to permit the transfer, sale, pledge or assignment of an Excess Servicing
Fee Right without registration or qualification. Midland Loan Services, a Division of PNC Bank, National Association and each
holder of an Excess Servicing Fee Right desiring to effect a transfer, sale, pledge or other assignment of such Excess Servicing
Fee Right shall, and Midland Loan Services, a Division of PNC Bank, National Association hereby agrees, and each such holder of
an Excess Servicing Fee Right by its acceptance of such Excess Servicing Fee Right shall be deemed to have agreed, in connection
with any transfer of such Excess Servicing Fee Right effected by such Person, to indemnify the Certificateholders, the Companion
Holders, the Trust, the Depositor, the Initial Purchasers, the Certificate Administrator, the Trustee, the Servicer and the Special
Servicers against any liability that may result if such transfer is not exempt from registration and/or qualification under the
Securities Act or other applicable federal and state securities laws or is not made in accordance with such federal and state
laws or in accordance with the foregoing provisions of this paragraph. By its acceptance of an Excess Servicing Fee Right, the
holder thereof shall be deemed to have agreed not to use or disclose such information in any manner that could result in a violation
of any provision of the Securities Act or other applicable securities laws or that would require registration of such Excess Servicing
Fee Right or any Certificate pursuant to the Securities Act. Following any transfer, sale, pledge or assignment of an Excess Servicing
Fee Right or the termination of Midland Loan Services, a Division of PNC Bank, National Association as the Servicer, the Person
then acting as the Servicer, shall pay, out of each amount paid to such Servicer as Servicing Fees, the related Excess Servicing
Fees to the holder of such Excess Servicing Fee Right within one Business Day following the payment of such Servicing Fees to
such Servicer, in each case in accordance with payment instructions provided by such holder in writing to such Servicer. The holder
of an Excess Servicing Fee Right shall not have any rights under this Agreement except as set forth in the preceding sentences
of this paragraph. None of the Depositor, the Special Servicer, the Trustee or the Certificate Administrator shall have any obligation
whatsoever regarding payment of the Excess Servicing Fee or the assignment or transfer of the Excess Servicing Fee Right.

 

With
respect to each Collection Period, the Special Servicer shall deliver or cause to be delivered to the Servicer on the Determination
Date, and the Servicer shall deliver, to the extent it has received, or cause to be delivered to the Certificate Administrator,
without charge on the Remittance Date, an electronic report that discloses and contains an itemized listing of any Disclosable
Special Servicer Fees received by the Special Servicer or any of its Affiliates during the related Collection Period.

 

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The
Special Servicer and its Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration
(including, without limitation, in the form of commissions, brokerage fees, rebates and appraisal fees or as a result of any other
fee-sharing arrangement) from any Person (including, without limitation, the Trust, the Loan Borrower, any manager of the Property,
any guarantor or indemnitor in respect of the Whole Loan and any purchaser of the Whole Loan or the Foreclosed Property) in connection
with the disposition, workout or foreclosure of the Whole Loan, the management or disposition of the Foreclosed Property, or the
performance of any other special servicing duties under this Agreement, other than as expressly provided in this Section 3.17;
provided, however, that such prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.

 

Notwithstanding
anything herein to the contrary, (i) the Servicer and the Special Servicer shall each be entitled to 50% of any Modification Fees
incurred in connection with the extension of the Stated Maturity Date of the Trust Loan or Companion Loans to which Special Servicer’s
consent is required pursuant to clause (vii)(c) of the definition of Special Servicing Loan Event and (ii) the
Servicer and the Special Servicer shall each be entitled to 50% of any Modification Fees, assumption fees (excluding assumption
application fees) or consent fees in connection with any Major Decision for which the Special Servicer’s consent is required.

 

Section 3.18.     Reports
to the Certificate Administrator; Account Statements. (a)  The Servicer shall prepare, or cause to
be prepared, and deliver to the Certificate Administrator and each Companion Loan Holder, in an electronic format which format
is reasonably acceptable to the Certificate Administrator, consistent with Accepted Servicing Practices, not later than (i) 2:00 p.m.
(New York time) two Business Days prior to each Distribution Date, the CREFC® Loan Periodic Update File and (ii) 2:00
p.m. (New York time) on the Remittance Date immediately preceding each Distribution Date, the remaining CREFC®
Reports (except the CREFC® Bond Level File, the CREFC® Collateral Summary File, the CREFC®
Special Servicer Loan File, the CREFC® Operating Statement Analysis Report and the CREFC®
NOI Adjustment Worksheet). The Certificate Administrator shall prepare the CREFC® Bond Level File.

 

In
addition, the Servicer (with respect to non-Specially Serviced Loans) shall prepare and make available to any Privileged Person
on the Servicer’s internet website (initially, www.wellsfargo.com/com/comintro), and the Special Servicer (with respect
to a Specially Serviced Loan and Foreclosed Property) shall prepare and deliver to the Servicer (who shall promptly make available
to any Privileged Person on the Servicer’s internet website (initially, www.wellsfargo.com/com/comintro) with respect to
the Property and the Foreclosed Property, a CREFC® Operating Statement Analysis Report and a CREFC®
NOI Adjustment Worksheet within 30 days after the Servicer’s or Special Servicer’s, as applicable, receipt of
each of the Loan Borrower’s quarterly financials (commencing with the quarter ending March 31, 2017) and annually within
30 days after receipt of the Loan Borrower’s annual financials for the year ending December 31, 2017); provided,
that the Servicer (or the Special Servicer, with respect to Specially Serviced Mortgage Loans or REO Property) shall prepare the
CREFC® Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheet on a quarterly
and annual basis, within 30 days after receipt by the Servicer or the Special Servicer, as applicable, of the Loan Borrower’s
financial statements that are required to prepare (or, if previously prepared, update) the CREFC® Operating Statement
Analysis Report and the CREFC® NOI Adjustment Worksheet, and shall deliver the CREFC® Operating
Statement Analysis Report and

 

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the CREFC® NOI Adjustment Worksheet to the Certificate Administrator on a monthly
basis (but with such being a delivery obligation of the most updated CREFC® Operating Statement Analysis Report
and the CREFC® NOI Adjustment Worksheet only, and without any obligation upon the Servicer or the Special Servicer
to prepare updated reports or perform any recalculations in respect of the foregoing if the Servicer or the Special Servicer is
not required to prepare updated reports with respect to the related Distribution Date); provided further, however,
that any analysis or report with respect to the first calendar quarter of each year will not be required to the extent not required
to be provided in the then current applicable CREFC® guidelines.

 

In
addition, on a calendar quarterly basis within 30 days after the Servicer’s receipt of each of the Loan Borrower’s
quarterly financial statements (commencing with the quarter ending March 31, 2017), the Servicer shall deliver, to the extent
it has received, or cause to be delivered to the Certificate Administrator such financial statements.

 

(b)          The
Servicer shall furnish to the Certificate Administrator in electronic format which format is reasonably acceptable to the Certificate
Administrator, the CREFC® Reports produced by it pursuant to this Agreement not later than the time period specified
in Section 3.18(a).

 

(c)          The
Servicer shall produce the reports described in this Section 3.18 solely from information provided to the Servicer
by the Loan Borrower pursuant to the Loan Agreement (without modification, interpretation or analysis) or by the Special Servicer,
Loan Seller or Depositor pursuant to this Agreement. None of the Trustee, the Certificate Administrator, the Servicer or the Special
Servicer shall be responsible for the completeness or accuracy of such information (except that the Servicer shall use efforts
consistent with Accepted Servicing Practices to correct patent errors).

 

Section 3.19.     Reserved. .

 

Section 3.20.     Reserved.

 

Section 3.21.     Access
to Certain Documentation Regarding the Whole Loan and Other Information. (a) The Servicer and the Special Servicer
shall provide to the Certificate Administrator, the Controlling Class Representative (but only prior to the occurrence and continuance
of any Consultation Termination Event), the Trustee, the Initial Purchasers, the Depositor, any Certificateholders that are federally
insured financial institutions, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller
of the Currency and the supervisory agents and examiners of such boards and such corporations, and any other governmental or regulatory
body to the jurisdiction of which any Certificateholder is subject, access to the documentation regarding the Whole Loan required
by applicable regulations of the Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the
Currency or any such governmental or regulatory body, such access being afforded without charge but only upon reasonable request
and during normal business hours at the offices of the Servicer or Special Servicer.

 

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(b)          The
Depositor hereby authorizes the Certificate Administrator to, and the Certificate Administrator shall, make available to Bloomberg
Financial Markets, L.P., Trepp, LLC, Intex Solutions, Inc., BlackRock Financial Management, Inc., Markit Group Limited, Thompson
Reuters Corporation, Moody’s Analytics or such other vendor chosen by the Depositor that submits to the Certificate
Administrator a certification in the form of Exhibit Q to this Agreement, all the Distribution Date Statements,
CREFC® Reports and supplemental notices delivered or made available pursuant to Section 8.14(c) to Privileged
Persons and providing such information shall not constitute a breach of this Agreement by the Certificate Administrator.

 

If
any of the parties to this Agreement receives a Form ABS Due Diligence-15E from any party in connection with any third-party due
diligence services such party may have provided with respect to the Trust Loan (“Due Diligence Service Provider”),
such receiving party shall promptly forward such Form ABS Due Diligence-15E to the 17g-5 Information Provider for posting on the
17g-5 Information Provider’s Website. The 17g-5 Information Provider shall post on the 17g-5 Information Provider’s
Website any Form ABS Due Diligence-15E it receives directly from a Due Diligence Service Provider or from another party to this
Agreement, promptly upon receipt thereof.

 

Section 3.22.     Inspections. The
Servicer shall inspect or cause to be inspected the Property not less frequently than once each year commencing in 2018; provided, however,
that the Servicer shall not be required to inspect the Property if it has been inspected by the Special Servicer in the
preceding 12 months. The Special Servicer shall inspect or cause to be inspected the Property as soon as practicable
following the occurrence of a Special Servicing Loan Event and annually for so long as a Special Servicing Loan Event is
continuing. The Servicer or the Special Servicer, as applicable, shall further inspect, or cause to be inspected, the
Property whenever it receives information that the Property has been damaged, left vacant, or abandoned, or if waste is being
committed thereto. All such inspections shall be performed in such manner as shall be consistent with Accepted Servicing
Practices. The cost of the annual inspections referred to in the first sentence of this paragraph shall be an expense of the
Servicer; the cost of all additional inspections referred to in this paragraph shall be a Trust Fund Expense and if paid by
the Servicer shall constitute a Property Protection Advance or an Administrative Advance. The Servicer or Special Servicer,
as the case may be, shall prepare a written report of inspection and deliver it to the Certificate Administrator. The
Certificate Administrator shall post such report on the Certificate Administrator’s Website pursuant to Section 8.14(b).

 

Section 3.23.     Advances.
(a)  In the event that a Monthly Payment (or an Assumed Monthly Payment, as applicable) (other than the Balloon
Payment) or any portion of a Monthly Payment (or an Assumed Monthly Payment, as applicable) (other than any Balloon Payment) on
the Trust Loan has not been received by the close of the Business Day immediately prior to the Remittance Date, the Servicer,
subject to its determination that such amounts are not Nonrecoverable Advances, shall make an advance on such Remittance Date
to the Distribution Account, in an amount equal to the Monthly Payment (or an Assumed Monthly Payment, as applicable), or any
such portion of the Monthly Payment (or an Assumed Monthly Payment, as applicable) on the Trust Loan that was delinquent as of
the close of the Business Day immediately prior to such Remittance Date, in each case, net of the Servicing Fee (which will not
be paid to the Servicer until the funds in the Collection Account are available for payment of such fee); provided that
neither the Servicer nor any other party shall be entitled to interest

 

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accrued on the amount of any Monthly Payment Advance with
respect to the Trust Loan if the related Monthly Payment (or an Assumed Monthly Payment, as applicable) in respect of the Trust
Loan is received by the Servicer or the Certificate Administrator, as applicable, by 2:00 p.m., New York time, on such Remittance
Date. For the avoidance of doubt, in the event that the amount of interest on the Trust Loan is reduced as a result of any modification
to the Trust Loan, any future Monthly Payment Advance made with respect to such modified Trust Loan shall be in such amounts as
may be required as a result of such reduction. The Servicer shall maintain a record of each Monthly Payment Advance it has made
pursuant to this Section 3.23(a) on the Trust Loan and the amount allocated to the related Note on a Note-by-Note Basis
and shall notify the Certificate Administrator thereof in the appropriate CREFC® Reports in order to permit allocation
thereof pursuant to Sections 3.4 and 3.5. In the event that the Servicer does not remit any amounts required
to be remitted to the Certificate Administrator on each Remittance Date (including any amounts required to be remitted pursuant
to Section 3.5 and any required Monthly Payment Advance) to the Certificate Administrator for deposit in the Distribution
Account on the Remittance Date, the Servicer shall pay to the Certificate Administrator interest on such amounts at the federal
funds rate for the period from and including the Remittance Date to but excluding the Distribution Date or, if earlier, the actual
remittance date.

 

Notwithstanding
anything herein to the contrary, if a Monthly Payment Advance is made with respect to the Trust Loan pursuant to the terms hereof,
then that Monthly Payment Advance, together with interest thereon, shall be reimbursed (with respect to both the related A Notes
and the B Notes), pro rata and pari passu with monthly interest advances on the Companion Loans.

 

At
any time that an Appraisal Reduction Amount exists, the amount that would otherwise be required to be advanced by the Servicer
in respect of delinquent payments of principal and interest on the Trust Loan shall be reduced by multiplying such amount by a
fraction, the numerator of which is the then outstanding principal balance of the Trust Loan minus the applicable Appraisal Reduction
Amount (or portion thereof allocable to the Trust Loan pursuant to the Co-Lender Agreement) and the denominator of which is the
then outstanding principal balance of the Trust Loan.

 

(b)          Subject
to Section 3.23(e), the Servicer shall advance for the benefit of the Certificateholders and the Companion Loan Holders,
to the extent it determines that such amount is recoverable, all customary and reasonable out-of-pocket costs and expenses incurred
by the Servicer or the Special Servicer in the performance of its servicing obligations, including, but not limited, to the costs
and expenses incurred in connection with (i) the preservation, restoration, operation and protection of the Property which,
in the Servicer’s sole discretion, exercised in accordance with Accepted Servicing Practices, are necessary to prevent an
immediate or material loss to the Trust Fund’s interest in the Property, (ii) the payment of (A) real estate taxes,
assessments and governmental charges that may be levied or assessed against the Loan Borrower or any of its affiliates or the
Property or revenues from the Property or which become liens on the Property, (B) insurance premiums, and (C) the out-of-pocket
costs and expenses of the Servicer or the Special Servicer, as applicable (including, without limitation, reasonable attorneys’
fees and expenses) to the extent not paid by the Loan Borrower that are incurred in connection with assumption of the Whole Loan
or a release of the Property from the liens of the Mortgage, (iii) any enforcement or judicial proceedings, including foreclosures
and including,

 

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but not limited to, court costs, attorneys’ fees and expenses and costs for third-party experts, including
appraisers and environmental and engineering consultants, and (iv) the management, operation and liquidation of the Property
if such Property is acquired by the Special Servicer or its affiliate in the name of the Trustee on behalf of the Trust (collectively,
“Property Protection Advances”). During the continuation of a Special Servicing Loan Event, the Special Servicer
shall give the Servicer and the Trustee not less than five Business Days’ written notice before the date on which the Servicer
is requested to make any Property Protection Advance with respect to the Whole Loan or the Foreclosed Property; provided,
however, that only three Business Days’ written notice shall be required in respect of Property Protection Advances
required to be made on an urgent or emergency basis (which may include, without limitation, Property Protection Advances required
to make tax or insurance payments). In addition, the Special Servicer shall provide the Servicer with such information in its
possession as the Servicer may reasonably request to enable the Servicer to determine whether a requested Property Protection
Advance would constitute a Nonrecoverable Advance. Notwithstanding anything herein to the contrary, if the Special Servicer requests
that the Servicer make an Advance, the Servicer may conclusively rely on such request as evidence that such advance is not a Nonrecoverable
Advance.

 

(c)          To
the extent the Servicer fails to make an Advance that it is required to make under this Agreement, the Trustee shall be required
to make such Advance pursuant to Section 7.6. It is understood that the obligation of the Servicer and the Trustee
(pursuant to Section 7.6) to make such Advances is mandatory, subject to the limitations set forth in this Agreement,
and shall continue to apply after any modification or amendment of the Whole Loan pursuant to Section 3.24 hereof,
beyond the Stated Maturity Date of the Whole Loan if a payment default shall have occurred on such date and through any court
appointed stay period or similar payment delay resulting from any insolvency of the Loan Borrower or related bankruptcy, notwithstanding
any other provision of this Agreement, other than the requirement of recoverability, and shall continue, subject to the requirement
of recoverability, until the earlier of (i) the payment in full of the Trust Loan and (ii) the date on which the Property
becomes liquidated.

 

(d)          Interest
on each Advance made by the Servicer or the Trustee shall accrue for each day that such Advance is outstanding at a rate of interest
equal to the Prime Rate (the “Advance Rate”) for each such day (or the most recent day on which the Prime Rate
was reported, if not reported on such day) on the basis of a year of 360 days and the actual number of days elapsed in a
month. Interest on the Advances shall compound annually. If the context requires, each reference to the reimbursement or payment
of an Advance also includes, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance
Rate through but excluding the date of payment or reimbursement.

 

(e)          Notwithstanding
any other provision in this Agreement, the Servicer or the Trustee, as applicable, shall be obligated to make an Advance only
to the extent that the Servicer or the Trustee, as applicable, has determined that such Advance, together with any previous unreimbursed
Advances and interest on all those Advances at the Advance Rate, would not constitute a Nonrecoverable Advance if made. The Trustee
and the Servicer, in that order, shall be entitled to reimbursement for any such Advances from the Collection Account and shall
obtain such reimbursement in accordance with Section 3.4(c). If the context requires, each

 

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reference to the reimbursement
or payment of an Advance shall be deemed to include, whether or not specifically referred to, payment or reimbursement of interest
thereon at the Advance Rate through the date of payment or reimbursement.

 

(f)          The
determination by the Servicer or the Trustee that it has made a Nonrecoverable Advance or that any proposed Advance, if made,
would constitute a Nonrecoverable Advance, shall be evidenced by the delivery of an Officer’s Certificate to the Certificate
Administrator, the Companion Loan Holders, the Controlling Class Representative (so long as no Consultation Termination Event
is continuing), and the Trustee in electronic format which format is reasonably acceptable to the Certificate Administrator and
the Trustee (if such determination is made by the Servicer), detailing the reasons for such determination with supporting documents
attached. Such Officer’s Certificate shall be made available to any Privileged Person by the Certificate Administrator posting
such Officer’s Certificate to the Certificate Administrator’s Website pursuant to Section 8.14(b). The
costs of any appraisals, reports or surveys and other information requested by the Servicer or the Trustee establishing an Advance
as a Nonrecoverable Advance shall be treated as Trust Fund Expenses, payable from the Collection Account pursuant to Section 3.4(c),
and shall constitute a Property Protection Advance, as applicable, if paid by the Servicer or the Trustee from its funds. The
Servicer’s determination of nonrecoverability in accordance with the above provisions shall be conclusive and binding on
the Trustee and the Trustee shall be entitled to rely conclusively thereupon. The Trustee, in determining whether or not a proposed
Advance would be a Nonrecoverable Advance, shall make such determination in its reasonable business judgment.

 

(g)          The
Servicer and the Trustee are not obligated to advance or pay (i) the delinquent scheduled payments with respect to any Companion
Loan, (ii) the Balloon Payment with respect to the Trust Loan or any Companion Loan (but are required to advance the Assumed Monthly
Payment with respect to the Trust Loan), (iii) any Default Interest, (iv) amounts required to cure any damages resulting
from Uninsured Causes (except as required pursuant to Section 3.12(c)), any failure of the Property to comply with
any applicable law, including any environmental law, or (except in connection with the foreclosure or other acquisition of the
Property in accordance with Section 3.12 upon the occurrence of a Loan Event of Default) to investigate, test, monitor,
contain, clean up, or remedy an environmental condition present at the Property, (v) any losses arising with respect to defects
in the title to the Property, (vi) any costs of capital improvements to the Property other than those necessary to prevent
an immediate or material loss to the Trust’s interest in the Property or (vii) any yield maintenance amounts or prepayment
premiums.

 

(h)          The
Servicer or the Trustee may consider (among other things) the following when making a non-recoverability determination: (a) the
obligations of the Loan Borrower under the terms of the Whole Loan as it may have been modified, (b) the Property in its “as
is” or then-current condition and occupancy, (c) future expenses and (d) the timing of recoveries, in the case of clauses
(b) through (d), each as modified by such party’s assumptions (consistent with Accepted Servicing Practices in the case
of the Servicer or in its commercially reasonable judgment in the case of the Trustee, solely in its capacity as Trustee) regarding
the possibility and effects of future adverse changes with respect to the Property.

 

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Section 3.24.     Modifications
of Loan Documents. (a)  (i) The Servicer (if no Special Servicing Loan Event has occurred and is
continuing) or the Special Servicer (during a Special Servicing Loan Event), may modify, waive or amend any term of the Trust
Loan if such modification, waiver or amendment (a) is consistent with Accepted Servicing Practices and (b) does not
result in an Adverse REMIC Event (and the Servicer or the Special Servicer, as applicable, may obtain and be entitled to rely
upon an Opinion of Counsel in connection with such determination). Notwithstanding anything herein to the contrary, in no
event may the Servicer or the Special Servicer permit an extension of the Stated Maturity Date beyond the date that is the
five years prior to the Rated Final Distribution Date. In connection with (i) the release of the Property or portion
thereof from the lien of the Mortgage or (ii) the taking of the Property or portion thereof by exercise of the power of
eminent domain or condemnation, if the Loan Documents require the Servicer or the Special Servicer, as applicable, to
calculate the loan-to-value ratio of the remaining portion of the Property, for purposes of REMIC qualification of the Trust
Loan, then, unless then permitted by the REMIC Provisions, such calculation shall exclude the value of personal property and
going concern value, if any.

 

(b)          All
modifications, waivers or amendments of the Whole Loan shall be in writing and shall be effected in a manner consistent with Accepted
Servicing Practices, the REMIC Provisions and the provisions of the Co-Lender Agreement. The Servicer or the Special Servicer,
as applicable, shall notify the Certificate Administrator, the Trustee, the Companion Loan Holders, the Controlling Class Representative
(so long as no Consultation Termination Event is continuing) and the Depositor, in writing, of any modification, waiver or amendment
of any term of the Whole Loan and the date thereof, and shall deliver to the Certificate Administrator (in its capacity as custodian),
the Companion Loan Holders and the Controlling Class Representative (prior to the occurrence and continuance of a Consultation
Termination Event) an original and, if applicable, recorded counterpart of the agreement relating to such modification, waiver
or amendment within ten (10) Business Days following the execution and, if applicable, recordation thereof. In the event the Servicer
or Special Servicer adversely modifies the interest rate applicable to any Note, any aggregate adverse economic effect of the
modification shall be applied to the Certificates, in reverse order of seniority. If the Whole Loan is modified, the Note Rate
on each Note shall not change for purposes of distributions on the Certificates. Notwithstanding the foregoing, neither the Servicer
nor the Special Servicer shall modify the Note Rates unless the Trust Loan is in default or default is reasonably foreseeable.

 

(c)          Subject
to Section 3.26, any modification of the Loan Documents that requires a Rating Agency Confirmation pursuant to the
Loan Documents, or any modification that would eliminate, modify or alter the requirement of obtaining such Rating Agency Confirmation
in the Loan Documents, shall not be made without the Servicer’s or the Special Servicer’s, as applicable, first receipt
of such Rating Agency Confirmation. Such Rating Agency Confirmation shall be obtained at the Loan Borrower’s expense in
accordance with the Loan Agreement or, if not so provided in the Loan Agreement or if the Loan Borrower does not pay, at the expense
of the Trust Fund.

 

(d)          Promptly
after the occurrence and during the continuance of a Special Servicing Loan Event, the Special Servicer shall request from the
Certificate Administrator the name of the current Controlling Class Representative. Upon receipt of the name of such current Controlling
Class Representative from the Certificate Administrator, the Special Servicer shall

 

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notify the Controlling Class Representative
that a Special Servicing Loan Event has occurred. The Certificate Administrator shall be responsible for providing the name of
the current Controlling Class Representative only to the extent the Controlling Class Representative has identified itself as
such to the Certificate Administrator; provided that if the Controlling Class Representative is determined pursuant to
the proviso in the definition of “Controlling Class Representative”, then (i) the Certificate Administrator shall
determine which Class is the Controlling Class and (ii) the Special Servicer shall request from the Certificate Administrator,
and the Certificate Administrator shall request from the Depository at the expense of the Trust, the list of Beneficial Holders
of the Controlling Class, and the Certificate Administrator shall provide (on a reasonably prompt basis) such list to the Special
Servicer and the Servicer at the expense of the Trust Fund.

 

(e)          Subject
to Section 3.26, prior to implementing any of the following actions, the Servicer or the Special Servicer shall obtain
a Rating Agency Confirmation with respect to such action:

 

(i)           any
transfer of the Property or any portion of the Property, or any transfer of any direct or indirect ownership interest in the Loan
Borrower to the extent the Loan Lender’s consent is required under the Loan Documents, except in each case as expressly
permitted by the Loan Documents without the Loan Lender’s consent or in connection with a pending or threatened condemnation;

 

(ii)          any
consent to incurrence of additional debt by the Loan Borrower or mezzanine debt by a direct or indirect parent of the Loan Borrower,
including modification of the terms of any document evidencing or securing any such additional debt and of any intercreditor or
subordination agreement executed in connection therewith and any waiver of or amendment or modification to the terms of any such
document or agreement, in each case to the extent the mortgagee’s approval is required by the Loan Documents; and

 

(iii)         any
of the actions described in clauses (v), (vi), (vii) or (ix) of the definition of “Major Decision”.

 

Notwithstanding
the foregoing, the Servicer and Special Servicer may, subject to certain conditions (but without any Rating Agency Confirmation)
grant the Loan Borrower’s request for consent to subject the Property to an easement, right-of-way or similar agreement
for utilities, access, parking, public improvements or another similar purpose and may consent to subordination of the Whole Loan
to such easement, right-of-way or similar agreement.

 

(f)          Notwithstanding
the foregoing, the Servicer shall not permit the substitution of the Property pursuant to the defeasance provisions of the Loan
Agreement unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and the Servicer has received (i)
replacement collateral consisting of government securities within the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii),
which satisfies the requirements of the Loan Documents, in an amount sufficient to make all scheduled payments required under
the terms of the Whole Loan when due, (ii) a certificate of an Independent certified public accountant to the effect that such
substituted property will provide cash flows sufficient to meet all payments of

 

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interest and principal (including payments at
maturity) on the Whole Loan in compliance with the requirements of the terms of the Loan Documents, (iii) one or more Opinions
of Counsel (at the expense of the Loan Borrower) to the effect that the Trustee, on behalf of the Trust Fund, will have a first
priority perfected security interest in such substituted property; provided, however, that, to the extent consistent with the
Loan Documents, the Loan Borrower shall pay the cost of any such opinion as a condition to granting such defeasance, (iv) to the
extent consistent with the Loan Documents, the Loan Borrower shall establish a single purpose entity to act as a successor mortgagor,
if so required by the Rating Agencies, (v) to the extent permissible under the Loan Documents, the Servicer shall use its reasonable
efforts to require the Loan Borrower to pay all costs of such defeasance, including but not limited to the cost of maintaining
any successor mortgagor, and (vi) to the extent permissible under the Loan Documents, the Servicer shall obtain, at the expense
of the Loan Borrower, Rating Agency Confirmation from each Rating Agency.

 

(g)          The
Servicer shall deposit all payments received by it from defeasance collateral substituted for the Property into the Collection
Account and treat any such payments as payments made on the Whole Loan in advance of its Payment Date, and not as a prepayment
of the Whole Loan. Notwithstanding anything herein to the contrary, in no event shall the Servicer permit such amounts to be maintained
in the Collection Account for a period in excess of 365 days (or 366 days in the case of a leap year).

 

Section 3.25.     Servicer
and Special Servicer May Own Certificates. The Servicer, the Special Servicer and any agent thereof in its
individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it
were not the Servicer, the Special Servicer or such agent except as otherwise provided herein subject to the restrictions on
voting set forth in the definition of Certificateholder.

 

Section 3.26.     Rating
Agency Confirmations. (a)  Notwithstanding the terms of any Loan Documents or other provisions of this Agreement,
if any action under any Loan Documents or this Agreement requires a Rating Agency Confirmation as a condition precedent to such
action, if the party (the “Requesting Party”) attempting to obtain such Rating Agency Confirmation from each
Rating Agency has made a request to any such Rating Agency for such Rating Agency Confirmation and, within 10 Business Days of
the Rating Agency Confirmation request being posted to the 17g-5 Information Provider’s Website, such Rating Agency has
not replied to such request or has responded in a manner that indicates that such Rating Agency is neither reviewing such request
nor waiving the requirement for a Rating Agency Confirmation, then such Requesting Party shall be required (without providing
notice to the Depositor) to (i) confirm that the applicable Rating Agency has received the Rating Agency Confirmation request,
and, if it has not, promptly request the related Rating Agency Confirmation again and (ii) if there is no response to either
Rating Agency Confirmation request within 5 Business Days of such confirmation or such second request (after seeking to confirm
that the applicable Rating Agency received such second Rating Agency Confirmation request), as applicable, then (x) with
respect to any condition in the Loan Documents requiring a Rating Agency Confirmation or any other matter under this Agreement
relating to the servicing of the Whole Loan (other than as set forth in clause (y) below), the Requesting Party (or,
if the Requesting Party is the Loan Borrower, then the Servicer or the Special Servicer, as applicable) will be required to determine,
in accordance with its duties under this Agreement and in accordance with Accepted Servicing

 

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Practices, whether or not such action
would be in the best interest of Certificateholders, and if the Requesting Party (or, if the Requesting Party is the Loan Borrower,
then the Servicer or the Special Servicer, as applicable) determines that such action would be in the best interest of the Certificateholders,
then the requirement for a Rating Agency Confirmation will not apply (provided, however, with respect to the release or substitution
of any collateral relating to the Trust Loan, any Rating Agency Confirmation requirement that the Servicer or Special Servicer
would have been permitted to waive pursuant to this Agreement will not apply without any such determination by the Requesting
Party (or the Servicer or the Special Servicer, as applicable) (it being understood that the Requesting Party (or the Servicer,
or the Special Servicer, as applicable) will in any event review the conditions required under the Loan Documents with respect
to such release and confirm to its satisfaction in accordance with the Accepted Servicing Practices that such conditions (other
than the requirement for a Rating Agency Confirmation) have been satisfied)), and (y) with respect to a replacement of the
Servicer or Special Servicer, such condition will not apply if such Servicer or Special Servicer is a Qualified Servicer. For
all other matters or actions (a) not specifically discussed above in clauses (x) or (y) or (b) that are not
the subject of a Rating Agency Declination, the applicable Requesting Party shall be required to obtain a Rating Agency Confirmation
from each of the Rating Agencies.

 

(b)          Any
Rating Agency Confirmation requests made by the Servicer, Special Servicer, the Certificate Administrator or Trustee, as applicable,
pursuant to this Agreement, shall be made in writing (an email shall be sufficient as a writing), which writing shall contain
a cover page indicating the nature of the Rating Agency Confirmation request, and shall contain all back-up material the Servicer,
Special Servicer, the Certificate Administrator or Trustee, as applicable, reasonably deems necessary for the Rating Agency) (including
those for Companion Loan Securities) to process such request. Subject to Section 10.17, the Servicer, the Special
Servicer, Certificate Administrator or the Trustee, as applicable, shall furnish such written Rating Agency Confirmation request
to each of the Rating Agencies.

 

(c)          Promptly
following the Special Servicer’s determination to take any action described in Section 3.26(a) without receiving
Rating Agency Confirmation, the Special Servicer shall, subject to Section 10.17, provide written notice to the Rating
Agencies.

 

(d)          Each
Certificateholder, by its acceptance of the Certificates, acknowledges and agrees to the foregoing with respect to Rating Agency
Confirmations.

 

Section 3.27.     Miscellaneous
Provisions.

 

(a)          Notwithstanding
the terms of the related Loan Documents, the other provisions of this Agreement or the Co-Lender Agreement, with respect to any
Companion Loan as to which there exists Companion Loan Securities, if any action relating to the servicing and administration
of the Whole Loan or the Foreclosed Property (the “Relevant Action”) requires delivery of a Rating Agency Confirmation
as a condition precedent to such action pursuant to this Agreement, then, except as set forth below in this paragraph, such action
will also require delivery of a Companion Loan Rating Agency Confirmation as a condition precedent to such action from each Companion
Loan Rating Agency. Each Companion Loan Rating Agency Confirmation shall be sought by the Servicer, Special Servicer, Trustee
or Certificate Administrator, as applicable, depending on whichever such party is seeking the corresponding

 

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Rating Agency Confirmation(s)
in connection with the Relevant Action. The requirement to obtain a Companion Loan Rating Agency Confirmation with respect to
any Companion Loan Securities will be subject to, will be permitted to be waived by the Servicer and the Special Servicer on,
and will be deemed not to apply on, the same terms and conditions applicable to obtaining Rating Agency Confirmations, as set
forth in this Agreement; provided, that the Servicer, Special Servicer, Trustee or Certificate Administrator, as applicable,
depending on which is seeking the subject Companion Loan Rating Agency Confirmation, shall forward to one or more of its counterpart
(i.e., the master servicer or special servicer, as applicable), the counterpart providing or posting Rule 17g-5 information, or
such other party or parties (as are agreed to by the Servicer or the Special Servicer, as applicable, and the applicable parties
for the related Other Securitization Trust), at the expense of the Other Securitization Trust to the extent not borne by the Loan
Borrower, and in such format as the sender and recipient may reasonably agree, (i) the request for such Companion Loan Rating
Agency Confirmation at least two (2) Business Days before it is sent to the applicable Companion Loan Rating Agency, (ii) all
materials forwarded to the 17g-5 Information Provider under this Agreement in connection with seeking the Rating Agency Confirmation(s)
for the applicable Relevant Action at approximately the same time that such materials are forwarded to the 17g-5 Information Provider,
and (iii) any other materials that the applicable Companion Loan Rating Agency may reasonably request in connection with
such Companion Loan Rating Agency Confirmation promptly following such request.

 

Section 3.28.     Companion
Loan Intercreditor Matters.

 

(a)          If,
pursuant to Section 2.8, or Section 3.16 of this Agreement, the Trust Loan is, in its entirety, purchased or repurchased
from the Trust Fund, the subsequent holder thereof shall be bound by the terms of the Co-Lender Agreement and shall assume the
rights and obligations of the holder of the Notes related to the Trust Loan under the Co-Lender Agreement. All portions of the
Mortgage File and (to the extent provided under the Loan Purchase Agreement) other documents pertaining to the Trust Loan shall
be endorsed or assigned to the extent necessary or appropriate to the purchaser of the Trust Loan in its capacity as the holder
of the Notes related to the Trust Loan (as a result of such purchase, repurchase or substitution) and (except for the actual Notes)
on behalf of the holders of the Note that represents the Companion Loan. Thereafter, such Mortgage File shall be held by the holder
of the Trust Loan or a custodian appointed thereby for the benefit thereof, on behalf of itself and the Companion Loan Holder
as their interests appear under the Co-Lender Agreement. If the related servicing file is not already in the possession of such
party, it shall be delivered to the master servicer or special servicer, as the case may be, under any separate servicing agreement
for the Whole Loan.

 

(b)          Notwithstanding
anything in this Agreement to the contrary, but only to the extent required under the Co-Lender Agreement, the Servicer or Special
Servicer, as applicable, shall consult with the Companion Loan Holder with respect to any matters with respect to the servicing
of such Companion Loan to the extent required under the Co-Lender Agreement. In addition, notwithstanding anything to the contrary,
the Servicer or Special Servicer, as applicable, shall deliver reports and notices to each Companion Loan Holder to the extent
required under the Co-Lender Agreement.

 

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(c)          Reserved.

 

(d)          With
respect to the Whole Loan, the Servicer shall prepare, or cause to be prepared, on an ongoing basis, a statement setting forth,
to the extent applicable to the Whole Loan:

 

(i)            (A)
the amount of the distribution from the Collection Account allocable to principal and (B) separately identifying the amount
of scheduled principal payments, balloon payments, principal prepayments made at the option of the Loan Borrower or other principal
prepayments (specifying the reason therefor), net liquidation proceeds and foreclosure proceeds included therein and information
on distributions made with respect to the Whole Loan;

 

(ii)           the
amount of the distribution from the Collection Account allocable to interest and the amount of Default Interest allocable to the
Whole Loan;

 

(iii)          the
amount of the distribution to the Companion Loan Holder, separately identifying the non-default interest, principal and other
amounts included therein, and if the distribution to the Companion Loan Holder is less than the full amount that would be distributable
to such Companion Loan Holder if there were sufficient amounts available therefor, the amount of the shortfall and the allocation
thereof between interest and principal and the amount of the shortfall, if any, under the Whole Loan;

 

(iv)          the
principal balance of each of the Whole Loan and the Companion Loan after giving effect to the distribution of principal as of
the end of the related Collection Period; and

 

(v)           the
amount of the servicing compensation paid to the Servicer and the Special Servicer with respect to the most recent Distribution
Date, showing separately the Servicing Fee, the Special Servicing Fee, the Workout Fee and the Liquidation Fee.

 

Not
later than each Remittance Date, the Servicer shall make the foregoing statement available to the Companion Loan Holder by electronic
means.

 

(e)     
     At any time after a Companion Loan has become part of an Other Securitization Trust and
provided that the applicable parties hereto have received written notice (which may be by email) thereof including contact
information for the master servicer and special servicer with respect to such Other Securitization Trust, all notices,
reports, information or other deliverables required to be delivered to the related Companion Loan Holder pursuant to this
Agreement or the Co-Lender Agreement shall be delivered to the master servicer and special servicer with respect to such
Other Securitization Trust (who then may forward such items to the party entitled to receive such items as and to the extent
provided in the related Other Pooling and Servicing Agreement) and, when so delivered to such master servicer and special
servicer, the party hereto that is obligated under this Agreement or the Co-Lender Agreement to deliver such notices,
reports, information or other deliverables shall be deemed to have satisfied its delivery obligations with respect to such
items hereunder or under the Co-Lender Agreement.

 

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Article
4

PAYMENTS AND STATEMENTS TO CERTIFICATEHOLDERS

 

Section 4.1.     Distributions.
(a)  On each Distribution Date, to the extent of Available Funds, amounts held in the Lower-Tier Distribution
Account shall be withdrawn and distributed to the Upper-Tier REMIC in respect of the Uncertificated Lower-Tier Interests, for
deposit into the Upper-Tier Distribution Account, and to the Class R Certificates in respect of the Class LT-R Interest in
accordance with Section 4.1(b) and immediately thereafter, amounts so distributed to the Upper-Tier REMIC shall be
withdrawn from the Upper-Tier Distribution Account and distributed by the Certificate Administrator in the following
amounts:

 

first,
to the Class A and Class X-A Certificates, on a pro rata basis (based on their respective Interest Distribution
Amount), in respect of interest, up to the Interest Distribution Amount for each such Class and such Distribution Date;

 

second,
to the Class A Certificates, in reduction of the Certificate Balance of such Class, up to the Principal Distribution
Amount for such Class and such Distribution Date until the Certificate Balance of such Class is reduced to zero;

 

third,
to the Class A Certificates, up to the amount of all Applied Realized Loss Amounts previously allocated to such Class
and not reimbursed on prior Distribution Dates;

 

fourth,
to the Class B Certificates, in respect of interest, up to the Interest Distribution Amount for such Class and such Distribution
Date;

 

fifth,
to the Class B Certificates, in reduction of the Certificate Balance of such Class, up to the Principal Distribution
Amount for such Class and such Distribution Date to the extent of the Principal Distribution Amount remaining after distributions
pursuant to all prior clauses, until the Certificate Balance of such Class is reduced to zero;

 

sixth,
to the Class B Certificates, up to the amount of all Applied Realized Loss Amounts previously allocated to such Class
and not reimbursed on prior Distribution Dates;

 

seventh,
to the Class C Certificates, in respect of interest, up to the Interest Distribution Amount for such Class and such Distribution
Date;

 

eighth,
to the Class C Certificates, in reduction of the Certificate Balance of such Class, up to the Principal Distribution Amount
for such Class and such Distribution Date to the extent of the Principal Distribution Amount remaining after distributions pursuant
to all prior clauses, until the Certificate Balance of such Class is reduced to zero;

 

ninth,
to the Class C Certificates, up to the amount of all Applied Realized Loss Amounts previously allocated to such Class and
not reimbursed on prior Distribution Dates;

 

tenth,
to the Class D Certificates, in respect of interest, up to the Interest Distribution Amount for such Class and such Distribution
Date;

 

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eleventh,
to the Class D Certificates, in reduction of the Certificate Balance of such Class, up to the Principal Distribution Amount
for such Class and such Distribution Date to the extent of the Principal Distribution Amount remaining after distributions pursuant
to all prior clauses, until the Certificate Balance of such Class is reduced to zero;

 

twelfth,
to the Class D Certificates, up to the amount of all Applied Realized Loss Amounts previously allocated to such Class and
not reimbursed on prior Distribution Dates;

 

thirteenth,
to the Class E Certificates, in respect of interest, up to the Interest Distribution Amount for such Class and such Distribution
Date;

 

fourteenth,
to the Class E Certificates, in reduction of the Certificate Balance of such Class, up to the Principal Distribution Amount for
such Class and such Distribution Date to the extent of the Principal Distribution Amount remaining after distributions pursuant
to all prior clauses, until the Certificate Balance of such Class is reduced to zero;

 

fifteenth,
to the Class E Certificates, up to the amount of all Applied Realized Loss Amounts previously allocated to such Class and not
reimbursed on prior Distribution Date; and

 

sixteenth,
when the Certificate Balances of all Classes of Sequential Pay Certificates have been reduced to zero and after payment in full
of all unpaid expenses of the Trust, to the Class R Certificates (in respect of the Class UT-R Interest), any remaining amounts.

 

In
no event will any Class of Certificates receive distributions in reduction of its Certificate Balance that in the aggregate exceed
the original Certificate Balance of such Class.

 

(b)       On
each Distribution Date, each Class of Uncertificated Lower-Tier Interests shall be deemed to receive (A) distributions in respect
of principal in an amount equal to the amount of principal actually distributable to its respective Related Certificates as provided
in Section 4.1(a), and (B) distributions with respect of reimbursement of Realized Losses in an amount equal to the reimbursement
of Realized Losses actually distributable to its respective Related Certificates as provided in Section 4.1(g). On each
Distribution Date, each Class of Uncertificated Lower-Tier Interests shall be deemed to receive distributions in respect of interest
in an amount equal to the sum of the Interest Distribution Amount and Interest Shortfall in respect of its Related Certificates
and the Interest Distribution Amount and Interest Shortfall in respect of the Class X-A Certificates in the case of the Class
LA Uncertificated Interests, to the extent actually distributable thereon as provided in Section 4.1(a). Amounts distributable
pursuant to this paragraph are referred to herein collectively as the “Lower-Tier Distribution Amount”, and
shall be made by the Certificate Administrator by deeming such Lower-Tier Distribution Amount to be withdrawn from the Lower-Tier
REMIC Distribution Account to be deposited in the Upper-Tier REMIC Distribution Account.

 

As
of any date, the principal balance of each Uncertificated Lower-Tier Interest shall equal its Lower-Tier Principal Amount. The
Pass-Through Rate with respect to each Uncertificated Lower-Tier Interest shall be the rate per annum set forth in the
Introductory Statement hereto.

 

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Any
amount that remains in the Lower-Tier Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution
Amount and any Prepayment Fees distributed pursuant to Section 4.3 shall be distributed to the Holders of the Class R
Certificates (in respect of the Class LT-R Interest, but only to the extent of the amount remaining in the Lower-Tier Distribution
Account, if any).

 

Distributions
to the Class R Certificateholders (in respect of the Class LT-R Interest) from the Lower-Tier Distribution Account and to
the Class R Certificate holders (in respect of the Class UT-R Interest) and to other Certificateholders from the Upper-Tier Distribution
Account on each Distribution Date shall be made by the Certificate Administrator (after withdrawing any amounts deposited in the
Distribution Account in error to the extent funds are available for such purpose) to each Certificateholder of record on the related
Record Date (other than as provided in Section 9.1 in respect of the final distribution), by wire transfer in immediately
available funds to the account of such Certificateholder at a bank or other entity located in the United States and having appropriate
facilities therefor; provided that the Certificate Administrator has received appropriate wire transfer instructions therefrom,
or by check by first class mail to the address set forth therefor in the Certificate Register if wiring instructions have not
been received at least five (5) Business Days prior to the Distribution Date.

 

(c)       All
amounts distributable to a Class of Certificates pursuant to Section 4.1(a) on each Distribution Date shall be allocated
pro rata among the outstanding Certificates in each such Class based on their respective Percentage Interests. Such distributions
shall be made on each Distribution Date to each Certificateholder of record on the related Record Date by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity located in the United States and having appropriate
facilities therefor provided that the Certificate Administrator has received appropriate wire transfer instructions therefrom,
or by check by first class mail to the address set forth therefor in the Certificate Register if wiring instructions have not
been received at least five (5) Business Days prior to the Distribution Date. The final distribution on each Certificate shall
be made in like manner, but only upon presentment and surrender of such Certificate at the location specified by the Certificate
Administrator in the notice to Certificateholders of such final distribution.

 

(d)       The
Certificate Administrator shall, as soon as reasonably possible after notice thereof by the Servicer to the Certificate Administrator
that the final distribution with respect to any Class of Certificates is expected to be made, mail to each Holder of such
Class of Certificates on such date a notice to the effect that:

 

(i)       the
Certificate Administrator reasonably expects based upon information previously provided to it that the final distribution with
respect to such Class of Certificates shall be made on such Distribution Date, but only upon presentation and surrender of
such Certificates at the office of the Certificate Administrator therein specified; and

 

(ii)       if
such final distribution is made on such Distribution Date, no interest shall accrue on such Certificate from and after the Interest
Accrual Period related to such Distribution Date.

 

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(e)       Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Holder or Holders to tender their Certificates shall, on such date, be set aside and held in trust for the benefit of
the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section shall
not have been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator
shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for cancellation
to receive the final distribution with respect thereto. If within one year after the second notice not all of such Certificates
shall have been surrendered for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate
steps to contact the remaining non-tendering Certificateholders concerning surrender of their Certificates. The costs and expenses
of holding such funds in trust and of contacting such Certificateholders shall be paid out of such funds. All such amounts shall
be held by the Certificate Administrator in trust in accordance herewith until the expiration of a two-year period following such
second notice, notwithstanding any termination of the Trust Fund. If within two years after the second notice any such Certificates
shall not have been surrendered for cancellation, the Certificate Administrator shall hold all amounts distributable to the Holders
thereof for the benefit of such Holders until the earlier of (i) its termination as Certificate Administrator hereunder and
the transfer of such amounts to a successor Certificate Administrator and (ii) the termination of the Trust Fund, at which
time such amounts, subject to applicable law, shall be distributed to the Depositor. No interest shall accrue or be payable to
any Certificateholder on any amount held in trust hereunder or by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with this Section 4.1(e). Any such
amounts transferred to the Certificate Administrator will remain uninvested. In the event the Certificate Administrator is permitted
or required to invest any amounts in Permitted Investments under this Agreement in the event of its assumption of the duties of,
or becoming the successor to, the Servicer or the Special Servicer, as applicable, in accordance with the terms of this Agreement,
it shall invest such amounts in Permitted Investments under clause (i) of the definition of Permitted Investments.

 

(f)       Subject
to the following sentence, the Certificate Administrator shall be responsible for the calculations with respect to distributions
from the Trust so long as the Trust Fund has not been terminated in accordance with this Agreement. The Certificate Administrator
shall have no duty to recompile, recalculate or verify the accuracy of information provided to it by the Servicer pursuant to
Section 3.18(a) and, in the absence of manifest error in such information, may conclusively rely upon it.

 

(g)       On
each Distribution Date, Realized Losses with respect to the Trust Loan shall be allocated to and applied as a reduction of the
Certificate Balance of each Class of Sequential Pay Certificates in the following order:

 

first,
to the Class E Certificates;

 

second,
to the Class D Certificates;

 

third,
to the Class C Certificates;

 

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fourth,
to the Class B Certificates; and

 

fifth,
to the Class A Certificates;

 

in
each case, until the Certificate Balance thereof has been reduced to zero.

 

The
Notional Amount of the Class X-A Certificates shall be reduced by the amount of Realized Losses allocated to the Class A
Certificates.

 

Section 4.2.     Withholding
Tax. (a)  Notwithstanding any other provision of this Agreement, the Certificate Administrator shall comply with
all federal withholding requirements with respect to payments to Certificateholders or payees that the Certificate Administrator
reasonably believes are applicable under the Code. The consent of Certificateholders or payees shall not be required for any such
withholding and any information that the Certificate Administrator may need to comply with any withholding requirement shall be
furnished to the Certificate Administrator. In the event the Certificate Administrator withholds any amount from interest payments
or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements, amounts so withheld shall
be treated as having been entirely distributed to such Certificateholder or payee, and the Certificate Administrator shall indicate
the amount withheld to such Certificateholder or payee through a report.

 

Section 4.3.    Allocation
and Distribution of Prepayment Fees. On any Distribution Date, Prepayment Fees, if any, collected in respect of the Trust
Loan prepayments during the related Collection Period shall be distributed by the Certificate Administrator to the Holders of
each Class of Certificates in the following manner: (1) pro rata, between (x) the group (the “YM Group
A”) of Class A and Class X-A Certificates, and (y) the group (the “YM Group B”
and collectively with the YM Group A, the “YM Groups”) of Class B, Class C, Class D and
Class E Certificates, based upon the aggregate amount of principal distributed to the Classes of Sequential Pay Certificates
in each YM Group on such Distribution Date, and (2) as among the Classes of Certificates in each YM Group, in the following
manner: (A) the Certificateholders of each Class of Sequential Pay Certificates in such YM Group shall be entitled to
receive on each Distribution Date an amount of Prepayment Fees, if any, collected in respect of the Trust Loan prepayments,
equal to the product of (i) a fraction whose numerator is the amount of principal distributed to such Class on such
Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates in that YM
Group on such Distribution Date, (ii) the Base Interest Fraction for the related principal prepayment and such Class of
Sequential Pay Certificates, and (iii) the Prepayment Fees, as applicable, collected during the related Collection
Period and allocated to such YM Group, and (B) any Prepayment Fees, as applicable, allocated to such YM Group collected
during the related Collection Period remaining after such distributions to the Sequential Pay Certificates in such YM Group
will be distributed to the Class X-A Certificates.

 

On
each Distribution Date, the Certificate Administrator shall apply amounts related to Prepayment Fees then on deposit in the Lower-Tier
Distribution Account and received during or prior to the related Collection Period to the Class LA Uncertificated Interest pursuant
to this Section 4.3.

 

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Section 4.4.     Statements
to Certificateholders. (a)  On each Distribution Date, based on information provided by the Servicer or the
Special Servicer, as applicable, the Certificate Administrator shall prepare and make available on the Certificate
Administrator’s Website pursuant to Section 8.14(b) to any Privileged Person and the Loan Borrower or any
affiliate of the Loan Borrower that certifies that it is a Certificateholder or Beneficial Owner of a Certificate, a
statement, based upon the information provided to it by the Servicer and the Special Servicer, as applicable, in respect of
the distributions made on such Distribution Date (a “Distribution Date Statement”) setting forth, among
other things:

 

(i)          for
each Class of Certificates (other than the Class R Certificates), (a) the amount of the distributions made on such Distribution
Date allocable to interest at the Pass-Through Rate and/or the amount allocable to principal (separately identifying the amount
of any principal payments (specifying the source of such payments)), (b) the amount of any Prepayment Fees collected on the
Trust Loan and the amount thereof allocated to each Class of Certificates, and (c) the amount of interest paid on Advances
from Default Interest and allocable to such Class of Certificates;

 

(ii)         if
the amount of the distributions to the Holders of each Class of Certificates was less than the full amount that would have been
distributable to such holders if there had been sufficient Available Funds, the amount of the shortfall allocable to such Class
of Certificates, stating separately the amounts allocable to interest and principal;

 

(iii)        the
amount of any Monthly Payment Advance for such Distribution Date;

 

(iv)        the
Certificate Balance or Notional Amount, as applicable, of each Class of Certificates (other than the Class R Certificates) after
giving effect to any distribution in reduction of the Certificate Balance or Notional Amount, as applicable, on such Distribution
Date and the allocation of Realized Losses on such Distribution Date, and the amount of Realized Losses allocated to each Class
on such Distribution Date;

 

(v)         the
principal balance of the Trust Loan and the principal balance of each Note as of the end of the Collection Period for such Distribution
Date;

 

(vi)        the
aggregate amount of unscheduled payments (and the source of such payments) made during the related Collection Period;

 

(vii)       identification
of any Loan Event of Default, any Special Servicing Loan Event, any Servicer Termination Event or any Special Servicer Termination
Event that in any case has been declared as of the close of business on the second Business Day prior to the end of the immediately
preceding calendar month;

 

(viii)      the
amount of the servicing compensation (other than the Servicing Fee) paid to the Servicer and the Special Servicer with respect
to such Distribution Date, separately listing any Liquidation Fees or Workout Fees and any other Loan Borrower charges retained
by the Servicer or Special Servicer and the amount of compensation paid to the Servicer, the Special Servicer, the Certificate
Administrator, and the Trustee, separately listing the Certificate Administrator Fee, the Special Servicing Fee, the Trustee

 

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Fee
and the CREFC® Intellectual Property Royalty License Fee paid to CREFC® with respect to such Distribution
Date;

 

(ix)         the
number of days the Loan Borrower is delinquent in the event that the Loan Borrower is delinquent at least 30 days and the
date upon which any foreclosure proceedings have been commenced;

 

(x)          if
the Property had as of the close of business on the Loan Payment Date immediately preceding such Distribution Date become a Foreclosed
Property;

 

(xi)         information
with respect to any declared bankruptcy of the Loan Borrower;

 

(xii)        as
to any item of Collateral released, liquidated or disposed of during the preceding Collection Period, the identity of such item
and the amount of proceeds of any liquidation or other amounts, if any, received therefrom during the related Collection Period;

 

(xiii)       the
aggregate amount of all Advances, if any, not yet reimbursed;

 

(xiv)       the
amount of any reimbursement of Nonrecoverable Advances paid to the Servicer;

 

(xv)       a
report identifying any Appraisal Reduction Amount;

 

(xvi)      an
itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the
related Collection Period;

 

(xvii)     the
amount of Default Interest, if any, and late payment charges, if any, paid by the Loan Borrower during the related Collection
Period;

 

(xviii)    the
original rating of each Class of Certificates and the current rating of each Class of Certificates;

 

(xix)       the
aggregate amount of Loan Borrower Reimbursable Trust Fund Expenses;

 

(xx)        the
current Controlling Class, if any; and

 

(xxi)       the
identity of the current Controlling Class Representative.

 

The
Depositor, the Trustee, the Certificate Administrator, the Servicer and the Special Servicer may agree to enhance the reporting
requirements of the Distribution Date Statement without Certificateholder approval. Assistance in using the Certificate Administrator’s
Website can be obtained by calling the Certificate Administrator’s investor relations desk at (866) 846-4526.

 

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The
Certificate Administrator has not obtained and shall not be deemed to have obtained actual knowledge of any information only by
virtue of its receipt and posting of such information to the Certificate Administrator’s Website.

 

Within
a reasonable period of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who
at any time during the calendar year was a Certificateholder, a statement containing the information set forth in clauses (i),
(ii), (viii) and (xx) above as to the applicable Class, aggregated for such calendar year or applicable portion of such year during
which such Person was a Certificateholder, together with such other information as the Certificate Administrator deems necessary
or desirable, or that a Certificateholder or Beneficial Owner of a Certificate reasonably requests, to enable Certificateholders
to prepare their tax returns for such calendar year. Such obligation of the Certificate Administrator shall be deemed to have
been satisfied to the extent that substantially comparable information shall be provided by the Certificate Administrator pursuant
to any requirements of the Code as from time to time are in force.

 

The
Certificate Administrator will be entitled to rely on all information provided to it by the Servicer or the Special Servicer without
independent verification. The Servicer, the Special Servicer, the Trustee and the Certificate Administrator will be entitled to
rely on information supplied by the Loan Borrower without independent verification.

 

The
Certificate Administrator shall include on each Distribution Date Statement a statement that each Certificateholder and Beneficial
Owner of Certificates may access notice of a request of a vote to terminate and replace the Special Servicer on the Certificate
Administrator’s Website, and each Certificateholder and Beneficial Owner of Certificates may register to receive email notifications
when such notices are posted on the Certificate Administrator’s Website. The Certificate Administrator will be entitled
to reimbursement from the requesting Certificateholders for the reasonable expenses of posting notices of such requests.

 

(b)       The
Certificate Administrator shall, on each Distribution Date make the Distribution Date Statement available to Privileged Persons
pursuant to Section 8.14(b). The Certificate Administrator’s obligation to provide such information to Certificateholders
and others shall be contingent on the Certificate Administrator’s receipt of such information from the Servicer and the
Special Servicer, as applicable. The Certificate Administrator shall be entitled to rely on such information provided to it by
the Servicer or the Special Servicer without independent verification. To the extent that the information required to be furnished
by the Servicer is based on information required to be provided by the Loan Borrower or the Special Servicer, the Servicer’s
obligation to furnish such information to the Certificate Administrator shall be contingent on its receipt of such information
from the Loan Borrower or the Special Servicer, as applicable. To the extent that information required to be furnished by the
Special Servicer is based on information required to be provided by the Loan Borrower, the Special Servicer’s obligation
to furnish such information shall be contingent upon its receipt of such information from the Loan Borrower. The Servicer, the
Special Servicer, the Certificate Administrator and the Trustee shall be entitled to rely on information supplied by the Loan
Borrower without independent verification.

 

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The
Certificate Administrator shall, to the extent provided to it by the Servicer in electronic format, make available to Privileged
Persons pursuant to Section 8.14(b) reports or analyses of net operating income from the Property. Such net operating
income reports or analyses shall be prepared pursuant to Section 3.18 hereof by the Servicer in CREFC®
format based on the quarterly, annual and periodic statements and rent rolls with respect to the Property obtained by the Servicer
from the Loan Borrower.

 

If
so authorized by the Depositor, the Certificate Administrator may make available on the Certificate Administrator’s Website
to any Privileged Person certain other information with respect to the Whole Loan (subject to the limitations of Section 3.4(c)).

 

In
addition, the Certificate Administrator shall make available on the Certificate Administrator’s Website such information
as set forth in Section 8.14(b) herein.

 

Section 4.5.     Investor
Q&A Forum and Investor Registry. (a) The Certificate Administrator shall make available to Privileged Persons only,
the Investor Q&A Forum. The “Investor Q&A Forum” shall be a service available on the Certificate Administrator’s
Website, where (i) Certificateholders and Beneficial Owners of Certificates who are Privileged Persons may submit questions to
the Certificate Administrator relating to the Distribution Date Statement, or submit questions to be forwarded to the Servicer
or Special Servicer, as applicable, relating to the reports being made available pursuant to Section 8.14(b)(ii)(B)
and 8.14(b)(iii)(A), (B) and (C), the Whole Loan or the Property (collectively, “Inquiries”),
and (ii) Privileged Persons may view Inquiries that have been previously submitted and answered, together with the answers
thereto. Upon receipt of an Inquiry for the Servicer or Special Servicer, the Certificate Administrator shall forward the Inquiry
to the Servicer or Special Servicer, as applicable, in each case via email within a commercially reasonable period of time following
receipt thereof. Following receipt of an Inquiry, the Certificate Administrator, the Servicer or Special Servicer, as applicable,
unless it determines not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Servicer or
Special Servicer shall be by email to the Certificate Administrator. The Certificate Administrator shall post (within a commercially
reasonable period of time following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer
to the Certificate Administrator’s Website. If the Certificate Administrator, Servicer or Special Servicer determines, in
its respective sole discretion, that (i) any Inquiry is not of a type described above, (ii) answering any Inquiry would
not be in the best interests of the Trust Fund and/or the Certificateholders, (iii) answering any Inquiry would be in violation
of applicable law, the Loan Documents or this Agreement, (iv) answering any Inquiry would, or is, reasonably expected to
result in a waiver of attorney client privilege or the disclosure of attorney client work-product; (v) answering any Inquiry
would materially increase the duties of, or result in significant additional cost or expense to, the Certificate Administrator,
Servicer or Special Servicer, as applicable, (vi) answering any Inquiry would violate the applicable confidentiality provisions
or (vii) answering any Inquiry is otherwise, for any reason, not advisable to answer, it shall not be required to answer
such Inquiry and, in the case of the Servicer or Special Servicer, shall promptly notify the Certificate Administrator. The Certificate
Administrator shall notify the Person who submitted such Inquiry in the event that the Inquiry will not be answered. Any notice
by the Certificate Administrator to the Person who submitted an Inquiry that will not be answered shall include the following
statement: “Because the Trust and Servicing Agreement provides that the Certificate

 

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Administrator, Servicer or Special Servicer
shall not answer an Inquiry if it determines, in its respective sole discretion, that (i) any Inquiry is not of a type described
in the Trust and Servicing Agreement, (ii) answering any Inquiry would not be in the best interests of the Trust and/or the
Certificateholders, (iii) answering any Inquiry would be in violation of applicable law or the Loan Documents, (iv) answering
any Inquiry would, or is, reasonably expected to result in a waiver of attorney client privilege or the disclosure of attorney
client work-product, (v) answering any Inquiry would materially increase the duties of, or result in significant additional
cost or expense to, the Certificate Administrator, Servicer or Special Servicer, as applicable, (vi) answering any Inquiry
would violate the applicable confidentiality provisions or (vii) answering any Inquiry is otherwise, for any reason, not
advisable to answer, no inference should be drawn from the fact that the Certificate Administrator, Servicer or Special Servicer
has declined to answer the Inquiry.” No party may post or otherwise disclose information known to such party to be Privileged
Information; provided that the Certificate Administrator shall have no obligation to review any inquiry or answer received
by it for posting to the Investor Q&A Forum to determine if such inquiry or answer contains any such direct communication
with the Controlling Class Representative, or otherwise to consult with the party from whom such inquiry or answer is received
to confirm the same, and the Certificate Administrator shall have no liability in connection with its posting to the Investor
Q&A Forum of any inquiry or answer containing such direct communication. Answers posted on the Investor Q&A Forum will
be attributable only to the respondent, and shall not be deemed to be answers from any of the Depositor, the Initial Purchasers
or the Certificate Administrator (as applicable) or any of their respective affiliates. None of the Initial Purchasers, Depositor,
or any of their respective affiliates will certify to any of the information posted in the Investor Q&A Forum and no such
party shall have any responsibility or liability for the content of any such information. The Certificate Administrator shall
not be required to post to the Certificate Administrator’s Website any Inquiry or answer thereto that the Certificate Administrator
determines, in its sole discretion, is administrative or ministerial in nature. The Investor Q&A Forum will not reflect questions,
answers and other communications that are not submitted via the Certificate Administrator’s Website. In addition to the
Certificate Administrator’s receipt of the Investor Certification to confirm that such Person is a Privileged Person, the
Certificate Administrator may require acceptance of an additional waiver and disclaimer for access to the Investor Q&A Forum.
No party to this Agreement shall be permitted to disclose Privileged Information in the Investor Q&A Forum.

 

(b)       The
Certificate Administrator shall make available to any Certificateholder and any Beneficial Owner, the Investor Registry. The “Investor
Registry” shall be a voluntary service via the Certificate Administrator’s Website, where Certificateholders and Beneficial
Owners can register and thereafter obtain information with respect to any other Certificateholder or Beneficial Owner that has
so registered. Any person registering to use the Investor Registry shall certify that (a) it is a Certificateholder or a
Beneficial Owner and (b) it grants authorization to the Certificate Administrator to make its name and contact information
available on the Investor Registry for at least forty-five (45) days from the date of such certification to other registered Certificateholders
and registered Beneficial Owners and such other certifications as the Certificate Administrator may require. Such Person shall
then be asked to provide certain mandatory fields such as the individual’s name, the company name and email address, as
well as certain optional fields such as address, phone, and Class(es) of Certificates owned. If any Certificateholder or Beneficial
Owner notifies the Certificate

 

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Administrator in writing that it wishes to be removed from the Investor Registry (which notice
may not be within forty-five (45) days of its registration), the Certificate Administrator shall promptly remove it from the Investor
Registry. The Certificate Administrator will not be responsible for verifying or validating any information submitted on the Investor
Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. In addition to the Certificate Administrator’s
receipt of the Investor Certification to confirm that such Person is a Privileged Person, the Certificate Administrator may require
acceptance of a waiver and disclaimer for access to the Investor Registry.

 

Article
5

THE CERTIFICATES

 

Section 5.1.     The
Certificates. (a)  The following table sets forth the designation and aggregate initial Certificate Balance and
Pass-Through Rate for each Class of Certificates.

 

	Class
of Certificates
	 	Initial
Certificate 

Balance 
	 	Pass-Through
Rate 

	Class A	 	$  94,018,000	 	Class
    A Pass-Through Rate
	Class X-A	 	$  94,018,000	 	Class
    X-A Pass-Through Rate
	Class B	 	$  20,893,000	 	Class
    B Pass-Through Rate
	Class C	 	$  14,409,000	 	Class
    C Pass-Through Rate
	Class D	 	$  46,879,000	 	Class
    D Pass-Through Rate
	Class E	 	$  57,133,000	 	Class
    E Pass-Through Rate
	Class
    R	 	N/A	 	N/A

 

The
Certificates shall be issued in substantially the respective forms set forth as Exhibits A-1 through A-8 hereto,
with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Agreement
or as may, in the reasonable judgment of the Certificate Registrar, be necessary, appropriate or convenient to comply, or facilitate
compliance, with applicable laws, and may have such letters, numbers or other marks of identification and such legends or endorsements
placed thereon as may be required by law, or as may, consistently herewith, be determined by the officers executing such Certificates,
as evidenced by their execution thereof.

 

(b)       The
Certificates of each Class of Sequential Pay Certificates shall be issued in minimum denominations of $100,000 initial Certificate
Balance and integral multiples of $1 initial Certificate Balance in excess of $100,000). The Class X-A Certificates shall be issued
in minimum denominations of $1,000,000 initial Notional Amount and in integral multiples of $1 initial Notional Amount in excess
of $1,000,000. The Class R Certificates shall be issued, maintained and transferred in minimum percentage interests of 10%
of such Class R Certificates and in integral multiples of 1% in excess thereof.

 

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(c)       One
authorized signatory shall sign the Certificates for the Certificate Registrar by manual or facsimile signature. If an authorized
signatory whose signature is on a Certificate no longer holds that office at the time the Certificate Registrar countersigns the
Certificate, the Certificate shall be valid nevertheless. A Certificate shall not be valid until an authorized signatory of the
Certificate Registrar (who may be the same officer who executed the Certificate) manually countersigns the Certificate. The signature
shall be conclusive evidence that the Certificate has been executed and countersigned under this Agreement.

 

Section 5.2.     Form
and Registration. (a)  Each Class of the Certificates (other than the Class R Certificates) sold to institutions
that are non-“U.S. persons” in “offshore transactions”, as defined in, and in reliance on, Regulation S
shall be initially be represented by a temporary global certificate in definitive, fully registered form without interest coupons,
substantially in the applicable form set forth as an exhibit hereto (each a “Temporary Regulation S Global Certificate”),
which shall be deposited on the Closing Date on behalf of the purchasers of the Certificates represented thereby with the Certificate
Registrar, at its principal trust office, as custodian, for the Depository, and registered in the name of the Depository or the
nominee of the Depository for the account of designated agents holding on behalf of the Euroclear System (“Euroclear”)
and/or Clearstream Banking, société anonyme (“Clearstream”). Prior to the expiration of the 40-day
period commencing on the later of the commencement of the offering and the Closing Date (the “Restricted Period”),
beneficial interests in each Temporary Regulation S Global Certificate may be held only through Euroclear or Clearstream.
After the expiration of the Restricted Period, a beneficial interest in a Temporary Regulation S Global Certificate may be
exchanged for an interest in the related permanent global certificate of the same Class (a “Regulation S Global
Certificate”) in the applicable form set forth as an exhibit hereto in accordance with the procedures set forth in Section 5.3(f).
During the Restricted Period, distributions due in respect of a beneficial interest in a Temporary Regulation S Global Certificate
shall only be made upon delivery to the Certificate Registrar by Euroclear or Clearstream, as applicable, of a Non-U.S. Beneficial
Ownership Certification. After the expiration of the Restricted Period, distributions due in respect of any beneficial interests
in a Temporary Regulation S Global Certificate shall not be made to the holders of such beneficial interests unless exchange
for a beneficial interest in the Regulation S Global Certificate of the same Class is improperly withheld or refused. The
aggregate Certificate Balance of a Temporary Regulation S Global Certificate or a Regulation S Global Certificate may
from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar, as custodian for
the Depository, as hereinafter provided.

 

On
the Closing Date, the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate
Administrator shall deliver to the Certificate Registrar the Regulation S Global Certificates, which shall be held by the
Certificate Registrar for purposes of effecting the exchanges contemplated by the preceding paragraph.

 

(b)       Certificates
of each Class offered and sold to QIBs in reliance on Rule 144A under the Securities Act (“Rule 144A”)
shall be represented by a single, global certificate in definitive, fully registered form without interest coupons, substantially
in the applicable form set forth as an exhibit hereto (each, a “Rule 144A Global Certificate” and, together
with the Temporary Regulation S Global Certificates and the Regulation S Global Certificates, the “Global Certificates”),
which shall be deposited with the Certificate Registrar or

 

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an agent of the Certificate Registrar, as custodian for the Depository,
and registered in the name of the Depository or a nominee of the Depository. The aggregate Certificate Balance of a Rule 144A
Global Certificate may from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar,
as custodian for the Depository, as hereinafter provided.

 

(c)       Certificates
of each Class that are offered and sold in the United States to investors that are Institutional Accredited Investors that are
not QIBs and the Class R Certificates (the “Non-Book Entry Certificates”) shall be in the form of Definitive
Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall be registered in the name of such
investors or their nominees by the Certificate Registrar who shall deliver the certificates for such Non-Book Entry Certificates
to the respective beneficial owners or owners.

 

(d)       Owners
of beneficial interests in Global Certificates of any Class shall not be entitled to receive physical delivery of certificated
Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is no longer willing
or able to discharge properly its responsibilities as depository with respect to the Global Certificates of such Class or ceases
to be a Clearing Agency, and the Certificate Registrar and the Depository are unable to locate a qualified successor within 90 days
of such notice or (ii) the Trustee has instituted or has been directed to institute any judicial proceeding to enforce the
rights of the Holders of such Class and the Trustee has been advised by counsel that in connection with such proceeding it is
necessary or appropriate for the Trustee to obtain possession of the Certificates of such Class; provided, however,
that under no circumstances will certificated Certificates be issued to beneficial owners of a Temporary Regulation S Global
Certificate. Upon notice of the occurrence of any of the events described in clause (i) or (ii) above with respect to
any Certificates of a Class that are in the form of Global Certificates and upon surrender by the Depository of any Global Certificate
of such Class and receipt from the Depository of instructions for reregistration, the Certificate Registrar shall issue Certificates
of such Class in the form of Definitive Certificates (bearing, in the case of a Definitive Certificate issued for a Rule 144A
Global Certificate, the same legends regarding transfer restrictions borne by such Global Certificate), and thereafter the Certificate
Registrar shall recognize the holders of such Definitive Certificates as Certificateholders under this Agreement.

 

(e)       If
any Beneficial Owner wishes to transfer its interest in a Rule 144A Global Certificate to an Institutional Accredited Investor
that is not a QIB, or wishes to transfer its interest in a Regulation S Global Certificate to a “U.S. person” (as
that term is defined in Rule 902(k) of Regulation S) that is an Institutional Accredited Investor but not a QIB, then the transferee
shall take delivery in the form of a Non-Book Entry Certificate, subject to the restrictions on the transfer of such Non-Book
Entry Certificate in Section 5.3(h) of this Agreement. No such transfer shall be made and the Certificate Registrar shall
not register any such transfer unless such transfer complies with the provisions of Section 5.3(h) of this Agreement applicable
to transfers of Non-Book Entry Certificates. Upon acceptance for exchange or transfer of a beneficial interest in a Global Certificate
for a Non-Book Entry Certificate, as provided herein, the Certificate Registrar shall endorse on the schedule affixed to the related
Global Certificate (or on a continuation of such schedule affixed to such Global Certificate and made a part thereof) an appropriate
notation evidencing the date of such exchange or transfer and a decrease in the denomination of such Global Certificate equal
to the

 

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denomination of such Non-Book Entry Certificate issued in exchange therefor or upon transfer thereof.

 

Section 5.3.     Registration
of Transfer and Exchange of Certificates. (a)  The Certificate Administrator shall keep or cause to be kept at
the Corporate Trust Office books (the “Certificate Register”) in which, subject to such reasonable regulations
as it may prescribe, the Certificate Administrator shall provide for the registration of Certificates and of transfers and exchanges
of Certificates as herein provided (the Certificate Administrator, in such capacity, being the “Certificate Registrar”).
In such capacities, the Certificate Administrator shall be responsible for, among other things, (i) maintaining the Certificate
Register and a record of the aggregate holdings of Certificates of each Class represented by a Temporary Regulation S Global
Certificate, a Regulation S Global Certificate and a Rule 144A Global Certificate and accepting Certificates for exchange
and registration of transfer and (ii) transmitting to the Depositor, the Servicer and the Special Servicer any notices from
the Certificateholders.

 

(b)       Subject
to the restrictions on transfer set forth in this Article 5, upon surrender for registration of transfer of any Certificate,
the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

(c)       Rule 144A
Global Certificate to Temporary Regulation S Global Certificate. If a holder of a beneficial interest in the Rule 144A
Global Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its
interest in such Rule 144A Global Certificate for an interest in the Temporary Regulation S Global Certificate of the
same Class, or to transfer its interest in such Rule 144A Global Certificate to a Person who is required to take delivery
thereof in the form of an interest in the Temporary Regulation S Global Certificate of the same Class, such holder may, subject
to the rules and procedures of the Depository, exchange or cause the exchange of such interest for an equivalent beneficial interest
in such Temporary Regulation S Global Certificate. Upon receipt by the Certificate Registrar, as registrar, at its office
designated in Section 5.7 hereof, of (1) instructions given in accordance with the Depository’s procedures
from a Depository Participant directing the Certificate Registrar to credit, or cause to be credited, a beneficial interest in
the Temporary Regulation S Global Certificate in an amount equal to the beneficial interest in the Rule 144A Global
Certificate to be exchanged, (2) a written order given in accordance with the Depository’s procedures containing information
regarding the Euroclear or Clearstream account to be credited with such increase and the name of such account and (3) a certificate
in the form of Exhibit C hereto given by the holder of such beneficial interest stating that the transfer of such
interest has been made in compliance with the transfer restrictions applicable to the Global Certificates and pursuant to and
in accordance with Regulation S, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced,
the Certificate Balance of the Rule 144A Global Certificate and to increase, or cause to be increased, the Certificate Balance
of the Temporary Regulation S Global Certificate by the aggregate Certificate Balance of the beneficial interest in the Rule 144A
Global Certificate to be exchanged, to credit or cause to be credited to the account of the Person specified in such instructions
(who shall be the agent member of Euroclear or Clearstream, or both) a beneficial interest in the Temporary Regulation S
Global Certificate equal to the reduction in the Certificate Balance of the Rule 144A Global Certificate, and to debit, or
cause to be debited, from the

 

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account of the Person making such exchange or transfer the beneficial interest in the Rule 144A
Global Certificate that is being exchanged or transferred.

 

(d)       Rule 144A
Global Certificate to Regulation S Global Certificate. If a holder of a beneficial interest in the Rule 144A Global
Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest
in such Rule 144A Global Certificate for an interest in the Regulation S Global Certificate of the same Class, or to
transfer its interest in such Rule 144A Global Certificate to a Person who is required to take delivery thereof in the form
of an interest in a Regulation S Global Certificate, such holder may, subject to the rules and procedures of the Depository,
exchange, or cause the exchange of, such interest for an equivalent beneficial interest in such Regulation S Global Certificate.
Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.7 hereof, of (1) instructions
given in accordance with the Depository’s procedures from a Depository Participant directing the Certificate Registrar to
credit or cause to be credited a beneficial interest in the Regulation S Global Certificate in an amount equal to the beneficial
interest in the Rule 144A Global Certificate to be exchanged, (2) a written order given in accordance with the Depository’s
procedures containing information regarding the participant account of the Depository to be credited with such increase and (3) a
certificate in the form of Exhibit D hereto given by the holder of such beneficial interest stating (A) that
the transfer of such interest has been made in compliance with the transfer restrictions applicable to the Global Certificates
and pursuant to and in accordance with Regulation S, or (B) that the transferee is otherwise entitled to hold its interest
in the applicable Certificates in the form of an interest in the Regulation S Global Certificate, without any registration
of such Certificates under the Securities Act (in which case such certificate shall enclose an Opinion of Counsel to such effect
and such other documents as the Certificate Registrar may reasonably require), then the Certificate Registrar shall instruct the
Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Global Certificate and to increase,
or cause to be increased, the Certificate Balance of the Regulation S Global Certificate by the aggregate Certificate Balance
of the beneficial interest in the Rule 144A Global Certificate to be exchanged, to credit or cause to be credited to the
account of the Person specified in such instructions a beneficial interest in the Regulation S Global Certificate equal to
the reduction in the Certificate Balance of the Rule 144A Global Certificate, and to debit, or cause to be debited, from
the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Global Certificate that
is being exchanged or transferred.

 

(e)       Temporary
Regulation S Global Certificate or Regulation S Global Certificate to Rule 144A Global Certificate. If a holder
of a beneficial interest in a Temporary Regulation S Global Certificate or Regulation S Global Certificate deposited
with the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest in such Temporary Regulation S
Global Certificate or Regulation S Global Certificate for an interest in the Rule 144A Global Certificate of the same
Class, or to transfer its interest in such Temporary Regulation S Global Certificate or Regulation S Global Certificate
to a Person who is required to take delivery thereof in the form of an interest in the Rule 144A Global Certificate, such
holder may, subject to the rules and procedures of Euroclear or Clearstream, as the case may be, and the Depository, exchange
or cause the exchange of such interest for an equivalent beneficial interest in the Rule 144A Global Certificate of the same
Class. Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.7 hereof, of
(1) instructions from Euroclear or

 

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Clearstream, if applicable, and the Depository, directing the Certificate Registrar, as
registrar, to credit or cause to be credited a beneficial interest in the Rule 144A Global Certificate equal to the beneficial
interest in the Temporary Regulation S Global Certificate or Regulation S Global Certificate to be exchanged, such instructions
to contain information regarding the participant account with the Depository to be credited with such increase, (2) with
respect to a transfer of an interest in the Regulation S Global Certificate, information regarding the participant account
of the Depository to be debited with such decrease and (3) with respect to a transfer of an interest in the Temporary Regulation S
Global Certificate (but not the Regulation S Global Certificate) for an interest in the Rule 144A Global Certificate,
a certificate in the form of Exhibit E hereto given by the holder of such beneficial interest and stating that the
Person transferring such interest in the Temporary Regulation S Global Certificate reasonably believes that the Person acquiring
such interest in the Rule 144A Global Certificate is a QIB and is obtaining such beneficial interest in a transaction meeting
the requirements of Rule 144A, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced,
the Certificate Balance of the Temporary Regulation S Global Certificate or Regulation S Global Certificate and to increase,
or cause to be increased, the Certificate Balance of the Rule 144A Global Certificate by the aggregate Certificate Balance
of the beneficial interest in the Temporary Regulation S Global Certificate or Regulation S Global Certificate to be
exchanged, and the Certificate Registrar shall instruct the Depository, concurrently with such reduction, to credit, or cause
to be credited, to the account of the Person specified in such instructions, a beneficial interest in the Rule 144A Global
Certificate equal to the reduction in the Certificate Balance of the Temporary Regulation S Global Certificate or Regulation S
Global Certificate and to debit, or cause to be debited, from the account of the Person making such transfer the beneficial interest
in the Temporary Regulation S Global Certificate or Regulation S Global Certificate that is being transferred.

 

(f)       Temporary
Regulation S Global Certificate to Regulation S Global Certificate. Interests in a Temporary Regulation S Global
Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as the case may be, a certificate
(a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear or Clearstream, as applicable,
has received a certificate substantially in the form of Exhibit F hereto from the holder of a beneficial interest
in such Temporary Regulation S Global Certificate, shall be exchanged after the Restricted Period, for interests in the Regulation S
Global Certificate of the same Class. The Certificate Registrar shall effect such exchange by delivering to the Depository for
credit to the respective accounts of such holders, a duly executed and authenticated Regulation S Global Certificate, representing
the aggregate Certificate Balance of interests in the Temporary Regulation S Global Certificate initially exchanged for interests
in the Regulation S Global Certificate. The delivery to the Certificate Registrar by Euroclear or Clearstream of the certificate
or certificates referred to above may be relied upon by the Depositor and the Certificate Registrar as conclusive evidence that
the certificate or certificates referred to therein has or have been delivered to Euroclear or Clearstream pursuant to the terms
of this Agreement and the Temporary Regulation S Global Certificate. Upon any exchange of interests in the Temporary Regulation S
Global Certificate for interests in the Regulation S Global Certificate, the Certificate Registrar shall endorse the Temporary
Regulation S Global Certificate to reflect the reduction in the Certificate Balance represented thereby by the amount so
exchanged and shall endorse the Regulation S Global Certificate to reflect the corresponding increase in the amount represented
thereby. Until so exchanged in full and except as provided therein, the Temporary Regulation S Global Certificate, and the
Certificates evidenced thereby, shall in all

 

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respects be entitled to the same benefits under this Agreement as the Regulation S
Global Certificate and Rule 144A Global Certificate authenticated and delivered hereunder.

 

(g)       Non-Book
Entry Certificate to Global Certificate. If a Holder of a Non-Book Entry Certificate (other than a Class R Certificate) wishes
at any time to exchange its interest in such Non-Book Entry Certificate for an interest in a Global Certificate of the same Class,
or to transfer all or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery thereof in the form
of an interest in a Global Certificate, such Holder may, subject to the rules and procedures of Euroclear or Clearstream, if applicable,
and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial interest
in the appropriate Global Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar, at its office
designated in Section 5.7 hereof, of (1) such Non-Book Entry Certificate, duly endorsed as provided herein, (2) instructions
from such Holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a beneficial interest
in the applicable Global Certificate equal to the portion of the Certificate Balance of the Non-Book Entry Certificate to be exchanged,
such instructions to contain information regarding the participant account with the Depository to be credited with such increase
and (3) a certificate in the form of Exhibit G hereto (in the event that the applicable Global Certificate is
the Temporary Regulation S Global Certificate), in the form of Exhibit H hereto (in the event that the applicable
Global Certificate is the Regulation S Global Certificate) or in the form of Exhibit I hereto (in the event that
the applicable Global Certificate is the Rule 144A Global Certificate), then the Certificate Registrar, as registrar, shall
cancel, or cause to be canceled, all or part of such Non-Book Entry Certificate, shall, if applicable, execute, authenticate and
deliver to the transferor a new Non-Book Entry Certificate equal to the aggregate Certificate Balance of the portion retained
by such transferor and shall instruct the Depository to increase, or cause to be increased, such Global Certificate by the aggregate
Certificate Balance of the portion of the Non-Book Entry Certificate to be exchanged and to credit, or cause to be credited, to
the account of the Person specified in such instructions a beneficial interest in the applicable Global Certificate equal to the
Certificate Balance of the portion of the Non-Book Entry Certificate so canceled.

 

(h)       Exchanges
of Non-Book Entry Certificates. If a holder of a Rule 144A Global Certificate, Regulation S Global Certificate or Non-Book
Entry Certificate wishes at any time to transfer its interest in such Rule 144A Global Certificate, Regulation S Global Certificate
or Non-Book Entry Certificate to a Person who is required to take delivery thereof in the form of a Non-Book Entry Certificate,
then the Certificate Registrar shall refuse to register such transfer unless it receives (and upon receipt, may conclusively rely
upon): (i) an investment representation letter from the proposed transferee substantially in the form attached as Exhibit J-1
to this Agreement and (ii) if required by the Certificate Registrar, an opinion of counsel satisfactory to the Certificate
Registrar to the effect that such transfer shall be made without registration under the Securities Act, together with the written
certification(s) as to the facts surrounding such transfer from the Certificateholder desiring to effect such transfer and/or
the proposed transferee on which such opinion of counsel is based (such opinion of counsel shall not be an expense of the Trust
or of the Depositor, the Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Certificate Registrar
in their respective capacities as such).

 

(i)       Other
Exchanges. In the event that a Global Certificate is exchanged for a Definitive Certificate, such Certificates may be exchanged
only in accordance with such

 

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procedures as are substantially consistent with the provisions of clauses (c) through (f) and
(h) above (including the certification requirements intended to ensure that such transfers comply with Rule 144A or Regulation S
under the Securities Act, at the case may be) and such other procedures as may from time to time be adopted by the Certificate
Registrar.

 

(j)       Restricted
Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates, transfers of interests
in the Temporary Regulation S Global Certificate to U.S. persons (as defined in Regulation S) shall be limited to transfers
made pursuant to the provisions of clause (e) above.

 

(k)       If
Certificates are issued upon the transfer, exchange or replacement of Certificates bearing a restrictive legend relating to compliance
with the Securities Act, or if a request is made to remove such legend on Certificates, the Certificates so issued shall bear
the restrictive legend, or such legend shall not be removed, as the case may be, unless there is delivered to the Certificate
Registrar such satisfactory evidence, which may include an Opinion of Counsel that neither such legend nor the restrictions on
transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A, Rule 144
or Regulation S under the Securities Act or, with respect to Non-Book Entry Certificates, that such Certificates are not
“restricted” within the meaning of Rule 144 under the Securities Act. Upon provision of such satisfactory evidence,
the Certificate Registrar shall authenticate and deliver Certificates that do not bear such legend.

 

(l)       All
Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the Certificate
Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(m)       No
Class E or Class R Certificate may be purchased by or transferred to any prospective purchaser or transferee that is or will be
an “employee benefit plan” within the meaning of Section 3(3) of ERISA that is subject to the fiduciary responsibility
provisions of ERISA, or any “plan” within the meaning of Section 4975(e)(1) of the Code that is subject to Section
4975 of the Code, or any other plan or arrangement subject to any federal, state or local law materially similar to Section 406
of ERISA or Section 4975 of the Code (“Similar Law”) or a Person whose assets include the assets of any such
employee benefit plan or plan within the meaning of Department of Labor Regulation Section 2510.3-101, as modified by Section
3(42) of ERISA or otherwise (each, a “Benefit Plan”), or any person acting on behalf of any such Benefit Plan
or using the assets of a Benefit Plan to purchase such Certificate, other than, in the case of a Class E Certificate, an insurance
company using assets of its general account under circumstances whereby such purchase and the subsequent holding of such Certificates
by such insurance company would be exempt from the prohibited transaction provisions of Sections 406 and 407 of ERISA and Section
4975 of the Code under Sections I and III of Prohibited Transaction Class Exemption 95-60, or a plan subject to Similar Law
under circumstances whereby such purchase and subsequent holding of such Certificates would not constitute or result in a non-exempt
violation of Similar Law. Each prospective transferee of a Class E or Class R Certificate in definitive form (other than the Initial
Purchasers) shall deliver to the transferor, the Certificate Registrar and the Certificate Administrator a representation letter,
substantially in the form of Exhibit O, stating that the prospective transferee meets the requirements of the preceding
sentence. Each transferee of an interest in a Class E or Class R

 

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Certificate in the form of a Global Certificate will be deemed
to have represented that it meets the requirements of the second preceding sentence. No Class A, Class X-A, Class B,
Class C or Class D Certificates may be purchased by or transferred to any prospective purchaser or transferee that is
or will be a Benefit Plan, or any person acting on behalf of a Benefit Plan or using the assets of a Benefit Plan to purchase
such Certificate, unless (A) the purchaser is an “accredited investor” as defined in Rule 501(a)(1) of the Securities
Act and (B) the acquisition, holding and disposition of such Certificate by the purchaser will not constitute or otherwise result
in a non-exempt prohibited transaction under ERISA or Section 4975 of the Code (or a non-exempt violation of Similar Law).
Any purported transfer in violation of this Section 5.3(m) shall be null and void ab initio and shall vest no rights
in any such purported purchaser or transferee.

 

(n)       Each
Person who has or acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such Residual Ownership
Interest to have agreed to be bound by the following provisions and the rights of each Person acquiring any Residual Ownership
Interest are expressly subject to the following provisions:

 

(i)       Each
Person acquiring or holding any Residual Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such
Residual Ownership Interest as agent (including a broker, nominee or other middleman) on behalf of any Person that is not a Permitted
Transferee. Any such Person shall promptly notify the Certificate Registrar of any change or impending change in its status (or
the status of the beneficial owner of such Residual Ownership Interest) as a Permitted Transferee. Any acquisition of a Residual
Ownership Interest by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person who is not
a Permitted Transferee shall be void ab initio and of no effect, and the immediately preceding owner who was a Permitted
Transferee shall be restored to registered and beneficial ownership of the Residual Ownership Interest as soon and as fully as
possible.

 

(ii)       No
Residual Ownership Interest may be transferred, and no such transfer shall be registered in the Certificate Register, without
the express written consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the transfer, and
such proposed transfer shall not be effective, without such consent with respect thereto. In connection with any proposed transfer
of any Residual Ownership Interest, the Certificate Registrar shall, as a condition to such consent, (x) require the proposed
transferee to deliver, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor,
an affidavit in substantially the form attached as Exhibit J-2 (a “Transferee Affidavit”) of the proposed
transferee (A) that such proposed transferee is a Permitted Transferee and (B) stating that (1) the proposed transferee
historically has paid its debts as they have come due and intends to do so in the future, (2) the proposed transferee understands
that, as the holder of a Residual Ownership Interest, it may incur liabilities in excess of cash flows generated by the residual
interest, (3) the proposed transferee intends to pay taxes associated with holding the Residual Ownership Interest as they
become due, (4) the proposed transferee will not cause income with respect to the Residual Ownership Interest to be attributable
to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of such proposed transferee
or any other U.S. Person, (5) the proposed transferee will not

 

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transfer the Residual Ownership Interest to any Person that
does not provide a Transferee Affidavit or as to which the proposed transferee has actual knowledge that such Person is not a
Permitted Transferee or is acting as an agent (including a broker, nominee or other middleman) for a Person that is not a Permitted
Transferee, and (6) the proposed transferee expressly agrees to be bound by and to abide by the provisions of this Section 5.3(n)
and (y) other than in connection with the initial issuance of a Class R Certificate, require a statement from the proposed
transferor substantially in the form attached as Exhibit J-3 (the “Transferor Letter”), that the proposed
transferor has no actual knowledge that the proposed transferee is not a Permitted Transferee and has no actual knowledge or reason
to know that the proposed transferee’s statements in the Transferee Affidavit are false.

 

(iii)       Notwithstanding
the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible Officer
of the Certificate Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no transfer to such
proposed transferee shall be effected and such proposed transfer shall not be registered on the Certificate Register; provided,
however, the Certificate Registrar shall not be required to conduct any independent investigation to determine whether
a proposed transferee is a Permitted Transferee. Upon notice to the Certificate Registrar that there has occurred a transfer to
any Person that is a Disqualified Organization or an agent thereof (including a broker, nominee or middleman) in contravention
of the foregoing restrictions, and in any event not later than 60 days after a request for information from the transferor of
such Residual Ownership Interest or such agent, the Certificate Registrar and the Certificate Administrator agree to furnish to
the IRS and the transferor of such Residual Ownership Interest or such agent such information necessary to the application of
Section 860E(e) of the Code as may be required by the Code, including, but not limited to, the present value of the total
anticipated excess inclusions with respect to such Class R Certificate (or portion thereof) for periods after such transfer.
At the election of the Certificate Registrar, the Certificate Registrar may charge a reasonable fee for computing and furnishing
such information to the transferor or to such agent referred to above; provided, however, such Persons shall in
no event be excused from furnishing such information.

 

(iv)       The
Class R Certificates may only be issued as Definitive Certificates and transferred to and owned by QIBs.

 

Section 5.4.     Mutilated,
Destroyed, Lost or Stolen Certificates. If (a) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of the destruction, loss or theft of any
Certificate and (b) there is delivered to the Certificate Registrar such security or indemnity as may be required by it
to save it harmless, then, in the absence of actual notice to the Certificate Registrar that such Certificate has been
acquired by a bona fide purchaser, the Certificate Registrar shall execute, authenticate and deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and interest in the Trust
Fund. In connection with the issuance of any new Certificate under this Section 5.4, the Certificate Registrar
may require the payment of a sum sufficient to cover any expenses (including the fees and expenses of the Certificate
Registrar) connected therewith. Any replacement Certificate issued pursuant to

 

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this Section 5.4 shall
constitute complete and indefeasible evidence of ownership in the Trust Fund, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time.

 

Section 5.5.     Persons
Deemed Owners. The Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Certificate
Registrar, and any agent of any of them, may treat the Person in whose name any Certificate is registered as the owner of
such Certificate for the purpose of receiving distributions as provided in this Agreement and for all other purposes
whatsoever, and none of the Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate
Registrar, nor any agent of any of them shall be affected by any notice to the contrary; provided, however,
that to the extent that a party to this Agreement responsible for distributing any report, statement or other information
required to be distributed to Certificateholders has been provided an Investor Certification, such party to this Agreement
shall distribute such report, statement or other information to such beneficial owner (or prospective transferee).

 

Section 5.6.     Access
to List of Certificateholders’ Names and Addresses; Special Notices. The Certificate Registrar shall maintain in as
current form as is reasonably practicable the most recent list available to it of the names and addresses of the
Certificateholders. If any Certificateholder that has provided an Investor Certification (a) requests in writing from
the Certificate Registrar a list of the names and addresses of Certificateholders, (b) states that such
Certificateholder desires to communicate with other Certificateholders with respect to its rights under this Agreement or
under the Certificates and (c) provides a copy of the communication which such Certificateholder proposes to transmit,
then the Certificate Registrar shall, within ten Business Days after the receipt of such request, afford such
Certificateholder access during normal business hours to a current list of the Certificateholders. Every Certificateholder,
by receiving and holding a Certificate, agrees that the Certificate Registrar shall not be held accountable by reason of the
disclosure of any such information as to the list of the Certificateholders hereunder, regardless of the source from which
such information was derived. The Servicer, the Special Servicer and the Depositor shall be entitled to a list of the names
and addresses of Certificateholders from time to time upon request therefor.

 

Upon
the written request of any Certificateholder that (a) has provided an Investor Certification, (b) states that such Certificateholder
desires the Certificate Administrator to transmit a notice to all Certificateholders stating that such Certificateholder wishes
to be contacted by other Certificateholders, setting forth the relevant contact information and briefly stating the reason for
the requested contact (a “Special Notice”) and (c) provides a copy of the Special Notice which such Certificateholder
proposes to transmit, the Certificate Administrator shall post such Special Notice to the Certificate Administrator’s Website
pursuant to Section 8.14(b) and shall mail such Special Notice to all Certificateholders at their respective addresses
appearing on the Certificate Register. The costs and expenses of the Certificate Administrator associated with delivering any
such Special Notice shall be borne by the party requesting such Special Notice. Every Certificateholder, by receiving and holding
a Certificate, agrees that neither the Certificate Administrator nor the Certificate Registrar shall be held accountable by reason
of the disclosure of any such Special Notice to Certificateholders, regardless of the information set forth in such Special Notice.

 

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Section 5.7.     Maintenance
of Office or Agency. The Certificate Registrar shall maintain or cause to be maintained an office or offices or agency or
agencies where Certificates may be surrendered for registration of transfer or exchange and where notices and demands to or
upon the Certificate Registrar in respect of the Certificates and this Agreement may be served. The Certificate Registrar
initially designates its office at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113 as its office for
such purposes. The Certificate Registrar shall give prompt written notice to the Certificateholders and the Loan Borrower of
any change in the location of the Certificate Register or any such office or agency.

 

Article
6

THE DEPOSITOR, THE SERVICER, THE SPECIAL SERVICER AND THE CONTROLLING CLASS REPRESENTATIVE

 

Section 6.1.     Respective
Liabilities of the Depositor, the Servicer and the Special Servicer. The Depositor, the Servicer and the Special Servicer
each shall be liable in accordance herewith only to the extent of the obligations specifically imposed by this
Agreement.

 

Section 6.2.     Merger
or Consolidation of the Servicer or the Special Servicer. Each of the Servicer and Special Servicer shall keep in full effect
its existence and rights as an entity under the laws of the jurisdiction of its organization, and shall be in compliance with
the laws of all jurisdictions to the extent necessary to perform its duties under this Agreement.

 

Any
Person into which the Servicer and Special Servicer may be merged or consolidated, or any Person resulting from any merger or
consolidation to which the Servicer and Special Servicer shall be a party, or any Person succeeding to the business of the Servicer
and Special Servicer, shall be the successor of the Servicer and Special Servicer as the case may be, hereunder, and shall be
deemed to have assumed all of the liabilities and obligations of such Servicer and Special Servicer hereunder, without the execution
or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding;
provided, however, that the Certificate Administrator or the Trustee has received a Rating Agency Confirmation with
respect to such successor or surviving Person unless the successor or survivor is the Servicer or the Special Servicer, as applicable.

 

Section 6.3.     Limitation
on Liability of the Depositor, the Servicer, the Special Servicer and Others. (a)  Neither the Depositor,
the Servicer, the Special Servicer nor any of their respective directors, officers, members, managers, partners, employees,
Affiliates or agents shall be under any liability to the Trust, the Certificateholders or any Companion Loan Holder for any
action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, actions taken or not
taken at the direction of Certificateholders or the Companion Loan Holders in accordance with this Agreement or the Co-Lender
Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor,
the Servicer, the Special Servicer or any such other person against any breach of warranties or representations made herein
or any liability which would otherwise be imposed by reason of willful misconduct, bad faith or negligence in the performance
of its duties or by reason of negligent disregard of its obligations and duties hereunder. The Depositor, the Servicer, the
Special Servicer and any of

 

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their respective directors, officers, employees, members, managers, partners, Affiliates or
agents may reasonably rely on any document of any kind prima facie properly executed and submitted by any Person respecting
any matters arising hereunder. The Depositor, the Servicer, the Special Servicer and any of their respective directors,
officers, members, managers, partners, employees, agents, Affiliates or other “controlling persons” within the
meaning of the Securities Act (“Controlling Persons”), shall be indemnified by the Trust (in accordance
with the procedures set forth in Section 3.4(c)) and held harmless against any loss, liability, claim, demand or
expense incurred in connection with any legal action or other claims, losses, penalties, fines, foreclosures, judgments or
liabilities relating to this Agreement, the Co-Lender Agreement, the Whole Loan, the Property, or the Certificates (except as
any such loss, liability or expense shall be otherwise reimbursable and reimbursed pursuant to this Agreement), other than
any loss, liability or expense incurred by reason of willful misfeasance, bad faith or negligence by it in the performance of
its duties hereunder or by reason of its negligent disregard of its obligations and duties hereunder. None of the Depositor,
the Servicer or the Special Servicer shall be under any obligation to appear in, prosecute or defend any legal action which
is not incidental to its respective duties under this Agreement and which in its opinion may involve it in any expense or
liability; provided, however, that the Depositor, the Servicer or the Special Servicer may, in its discretion,
undertake any such action which it may deem necessary or desirable in accordance with Accepted Servicing Practices in respect
of this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders hereunder. In
such event, the legal expenses and costs of such action and any liabilities of the Trust Fund, and the Depositor, the
Servicer and the Special Servicer shall be entitled to be reimbursed therefor pursuant to Section 3.4(c) from
funds on deposit in the Collection Account.

 

(b)       The
Depositor shall not be obligated to monitor or supervise the performance of the Servicer, the Special Servicer, the Certificate
Administrator or the Trustee under this Agreement. The Depositor may, but shall not be obligated to, enforce the obligations of
the Servicer, the Special Servicer, the Certificate Administrator and the Trustee under this Agreement.

 

Section 6.4.     Termination
of the Special Servicer Without Cause. (a)  At any time prior to the occurrence and continuance of any
Control Termination Event the Controlling Class Representative shall be entitled to terminate the rights (subject to Section 6.3 of
this Agreement) and obligations of the Special Servicer under this Agreement, with or without cause, upon ten (10)
Business Days’ notice to the Special Servicer, the Servicer, the Certificate Administrator and the Trustee. Upon a
termination (pursuant to the prior sentence) or a resignation of the Special Servicer, the Controlling Class Representative
shall appoint a successor Special Servicer; provided, however, that (i) such successor will meet the requirements set
forth in Section 7.2 of this Agreement and (ii) the Controlling Class Representative shall (at no expense to the
Trust) obtain and deliver to the Certificate Administrator and the Trustee a Rating Agency Confirmation with respect to such
proposed successor acting as a Special Servicer.

 

Following
the occurrence and during the continuance of a Control Termination Event, upon (i) the written direction of Holders of Certificates
evidencing not less than 25% of the Voting Rights of the Certificates requesting a vote to terminate and replace the Special Servicer
with a proposed successor Special Servicer, (ii) payment by such Holders to the

 

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Certificate Administrator of the reasonable fees
and expenses to be incurred by the Certificate Administrator in connection with administering such vote and (iii) delivery by
such Holders to the Certificate Administrator and the Trustee of a Rating Agency Confirmation with respect to the termination
of the existing Special Servicer and the replacement thereof with the proposed successor (with the reasonable fees and out-of-pocket
costs and expenses associated with obtaining such Rating Agency Confirmation to be an expense of such Holders), the Certificate
Administrator shall promptly provide written notice thereof to all Certificateholders by posting such notice on its internet website
and by mailing at their addresses appearing in the Certificate Register. Upon the written direction of (a) Holders of Certificates
evidencing at least 75% of the Voting Rights of the Certificates that vote so long as they constitute a Certificateholder Quorum
of the Certificates or (b) Holders of those Classes of Sequential Pay Certificates evidencing more than 50% of the Voting Rights
of each Class of Non-Reduced Certificates, the Trustee shall terminate all of the rights (subject to Section 6.3 of
this Agreement) and obligations of the Special Servicer under this Agreement, and the proposed successor Special Servicer shall
succeed to the duties of the Special Servicer all as if a removal and replacement were occurring pursuant to Section 7.1
and Section 7.2 of this Agreement; provided that if such written direction is not provided within 180 days
of the initial request for a vote to terminate and replace the Special Servicer, then such written direction shall have no force
and effect. The provisions set forth in the foregoing sentences of this Section 6.4(a) shall be binding upon and inure
to the benefit of solely the Certificateholders and the Trustee as between each other. The Special Servicer shall not have any
cause of action based upon or arising from any breach or alleged breach of such provisions. As between the Special Servicer, on
the one hand, and the Certificateholders, on the other, the Certificateholders shall be entitled in their sole discretion to vote
for the termination or not vote for the termination of the Special Servicer.

 

The
Certificate Administrator shall include on each Distribution Date Statement a statement that each Certificateholder and Beneficial
Owner that are Privileged Persons may access notices on the Certificate Administrator’s Website and each Certificateholder
and Beneficial Owner that are Privileged Persons may register to receive email notifications when such notices are posted on the
Certificate Administrator’s Website; provided that the Certificate Administrator shall be entitled to reimbursement
from the requesting Certificateholders for the reasonable expenses of posting such notices.

 

(b)       The
appointment of any such successor Special Servicer shall not relieve the Servicer or the Trustee of their respective obligations
to make Advances as set forth herein; provided, however, that none of the Trustee, the Servicer (solely in its capacity
as Servicer), or the initial Special Servicer specified in Section 3.10(a) of this Agreement shall be liable for any
actions or any inaction of such successor Special Servicer. Any termination fee payable to the terminated Special Servicer and
any costs incurred by the Trust or the terminated Special Servicer in connection with the replacement of a Special Servicer shall
be paid by the Controlling Class Representative or Certificateholders so terminating the Special Servicer and shall not in any
event be an expense of the Trust Fund.

 

(c)       No
termination of the Special Servicer and appointment of a successor Special Servicer shall be effective until (i) the successor
Special Servicer shall have executed and delivered to the Trustee and the Certificate Administrator an agreement which contains
an assumption by such Person of the due and punctual performance and observance of each

 

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covenant and condition to be performed
or observed by the Special Servicer under this Agreement from and after the date of such agreement and (ii) subject to Section 10.17 of this Agreement, each Rating Agency has delivered to the Trustee and the Certificate Administrator a Rating Agency Confirmation
with respect to such termination and appointment of a successor.

 

(d)       Any
successor Special Servicer shall be deemed to make the representations and warranties provided for in Section 2.5
of this Agreement mutatis mutandis as of the date of its succession.

 

(e)       In
the event that the Special Servicer is terminated pursuant to this Section 6.4, the Trustee shall, by notice in writing
to the Special Servicer, terminate all of its rights and obligations under this Agreement and in and to the Whole Loan and the
proceeds thereof, other than any rights the Special Servicer may have hereunder as a Certificateholder and any rights or obligations
that accrued prior to the date of such termination (including without limitation the right to receive all amounts accrued or owing
to it under this Agreement, plus interest at the Advance Rate on such amounts until received to the extent such amounts bear interest
as provided in this Agreement, with respect to periods prior to the date of such termination and the right to the benefits of
Section 6.3 of this Agreement and the right to receive ongoing Workout Fees or Liquidation Fee in accordance with
the terms hereof and any indemnification that the Special Servicer is entitled to pursuant to the terms hereof).

 

Section 6.5.     The
Controlling Class Representative.

 

(a)       For
so long as no Control Termination Event has occurred and is continuing, the Controlling Class Representative shall be entitled
to (1) if a Special Servicing Loan Event occurs, advise the Special Servicer and (2) if a Special Servicing Loan Event has not
occurred, advise the Special Servicer as to all matters for which the Servicer must obtain the consent or deemed consent of the
Special Servicer for a Major Decision. In addition, notwithstanding anything herein to the contrary, except as set forth in, and
in any event subject to Section 6.5(b) and the second and third paragraphs of this Section 6.5(a), both
(a) the Servicer shall not be permitted to take any of the actions constituting a Major Decision unless it has obtained the consent
of the Special Servicer, who shall have 15 Business Days (or 60 days with respect to the determination of an Acceptable Insurance
Default) (from the date that the Special Servicer receives the information from the Servicer) to analyze and make a recommendation
regarding such Major Decision (provided that if the Special Servicer does not consent, or notify the Servicer that it will
not consent, to such Major Decision within the required 15 Business Days or 60 days, as applicable, the Special Servicer shall
be deemed to have consented to such Major Decision) and (b) for so long as no Control Termination Event has occurred and is continuing,
the Special Servicer shall not be permitted to consent to the Servicer’s taking any of the actions constituting a Major Decision
nor will the Special Servicer itself be permitted to take any of the actions constituting a Major Decision as to which the Controlling
Class Representative has objected in writing within ten (10) Business Days after receipt of the written recommendation and analysis
from the Special Servicer; provided that if such written objection has not been received by the Special Servicer within
such ten (10) Business Day period or twenty (20) day period, as applicable, then the Controlling Class Representative will be
deemed to have approved such action; provided further, that, in the event that the Special Servicer or Servicer (in the
event the Servicer is otherwise authorized by this Agreement to take such action), as

 

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applicable, determines that immediate action,
with respect to a Major Decision, or any other matter requiring consent of the Controlling Class Representative prior to the occurrence
and continuance of a Control Termination Event in this Agreement, is necessary to protect the interests of the Certificateholders,
the Special Servicer or Servicer, as applicable, may take any such action without waiting for the Controlling Class Representative’s
(or, if applicable, the Special Servicer’s) response. The Special Servicer is not required to obtain the consent of the
Controlling Class Representative for any Major Decision following the occurrence and during the continuance of a Control Termination
Event; provided that, after the occurrence and during the continuance of a Control Termination Event, the Special Servicer
shall consult (on a non-binding basis) with the Controlling Class Representative (until the occurrence and continuance of a Consultation
Termination Event) and consider alternative actions recommended by the Controlling Class Representative, but only to the extent
such consultation with, or consent of, the Controlling Class Representative would have been required prior to the occurrence and
continuance of such Control Termination Event.

 

In
addition, for so long as no Control Termination Event has occurred and is continuing, the Controlling Class Representative may
direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Trust Loan as the Controlling
Class Representative may reasonably deem advisable or as to which provision is otherwise made herein. Notwithstanding anything
herein to the contrary, no such direction, and no objection contemplated by the preceding paragraph or this paragraph, may require
or cause the Servicer or the Special Servicer to violate any provision of the Loan Documents, the Co-Lender Agreement (including
Section 5(d) of the Co-Lender Agreement regarding certain consultation with the Companion Loan Holders), applicable law or this
Agreement, including without limitation each of the Servicer’s and the Special Servicer’s obligation to act in accordance with
Accepted Servicing Practices, or expose the Servicer, the Special Servicer, the Certificate Administrator, the Trust Fund or the
Trustee to liability, or materially expand the scope of the Servicer’s or the Special Servicer’s responsibilities hereunder or
cause the Servicer or the Special Servicer to act, or fail to act, in a manner which in the reasonable judgment of the Servicer
or the Special Servicer is not in the best interests of the Certificateholders.

 

In
the event the Special Servicer or Servicer, as applicable, determines that a refusal to consent by the Controlling Class Representative
or any advice from the Controlling Class Representative would otherwise cause the Special Servicer or Servicer, as applicable,
to violate the terms of the Loan Documents, applicable law, the provisions of the Code resulting in an Adverse REMIC Event or
this Agreement, including without limitation, Accepted Servicing Practices, the Special Servicer or Servicer, as applicable, shall
disregard such refusal to consent or advise and notify the Controlling Class Representative, the Trustee and, subject to Section 10.17 of this Agreement, the Rating Agencies of its determination, including a reasonably detailed explanation of the basis therefor.
The taking of, or refraining from taking, any action by the Servicer or Special Servicer in accordance with the direction of or
approval of the Controlling Class Representative that does not violate any law or Accepted Servicing Practices or any other provisions
of this Agreement, will not result in any liability on the part of the Servicer or the Special Servicer.

 

The
Controlling Class Representative shall have no liability to the Trust Fund, the Certificateholders or the Companion Loan Holders
for any action taken, or for refraining from

 

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the taking of any action, pursuant to this Agreement, or for error in judgment; provided,
however, that the Controlling Class Representative will not be protected against any liability to any Controlling Class
Certificateholder that would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance
of duties or by reason of negligent disregard of obligations or duties.

 

By
its acceptance of a Certificate, each Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that:
(i) the Controlling Class Representative may have special relationships and interests that conflict with those of Holders of one
or more Classes of Certificates; (ii) the Controlling Class Representative may act solely in the interests of the Holders of the
Controlling Class; (iii) the Controlling Class Representative does not have any liability or duties to the Holders of any Class
of Certificates other than the Controlling Class; (iv) the Controlling Class Representative may take actions that favor interests
of the Holders of the Controlling Class over the interests of the Holders of one or more other Classes of Certificates; and (v)
the Controlling Class Representative shall have no liability whatsoever (other than to a Controlling Class Certificateholder)
for having so acted as set forth in clauses (i)-(iv) of this paragraph, and no Certificateholder may take any action whatsoever
against the Controlling Class Representative or any affiliate, director, member, officer, employee, shareholder, member, partner,
agent or principal thereof for having so acted.

 

(b)       Notwithstanding
anything to the contrary contained herein: (i) after the occurrence and during the continuance of any Control Termination Event,
the Controlling Class Representative shall have no right to consent to any action taken or not taken by any party to this Agreement;
(ii) after the occurrence and during the continuance of a Control Termination Event but prior to the occurrence and continuance
of a Consultation Termination Event, the Controlling Class Representative shall remain entitled to receive any notices, reports
or information to which it is entitled pursuant to this Agreement, and the Special Servicer shall consult with the Controlling
Class Representative in connection with any action to be taken or refrained from taking to the extent set forth herein; and (iii)
after the occurrence and during the continuance of a Consultation Termination Event, the Controlling Class Representative shall
have no consultation or consent rights hereunder and no right to receive any notices, reports or information (other than notices,
reports or information required to be delivered to all Certificateholders) or any other rights as Controlling Class Representative.

 

(c)       Each
Certificateholder and Beneficial Owner of a Class E Certificate is hereby deemed to have agreed by virtue of its purchase of such
Certificate (or beneficial ownership interest in such Certificate) to provide its name and address to the Certificate Administrator
and to notify the Certificate Administrator of the transfer of any Class E Certificate (or the beneficial ownership of any Class
E Certificate), the selection of a Controlling Class Representative or the resignation or removal thereof. Any such Certificateholder
(or Beneficial Owner) or its designee at any time appointed Controlling Class Representative is hereby deemed to have agreed by
virtue of its purchase of a Class E Certificate (or the beneficial ownership interest in a Class E Certificate) to notify the
Certificate Administrator when such Certificateholder (or Beneficial Owner) or designee is appointed Controlling Class Representative
and when it is removed or resigns. Upon receipt of such notice, the Certificate Administrator shall notify the Special Servicer,
the Servicer and the Trustee of the identity of the Controlling Class Representative, any resignation or removal thereof and/or
any new Holder or

 

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Beneficial Owner of a Class E Certificate. In addition, upon the request of the Servicer, the Special Servicer
or the Trustee, as applicable, the Certificate Administrator shall provide (on a reasonably prompt basis) the identity of the
then current Controlling Class and a list of the Certificateholders (or Beneficial Owners, if applicable, at the expense of the
Trust if such expense arises in connection with an event as to which the Controlling Class Representative or the Controlling Class
has consent or consultation rights pursuant to this Agreement, or otherwise at the expense of the requesting party and each of
the Servicer, the Special Servicer and the Trustee shall be entitled to rely on such information so provided by the Certificate
Administrator. The initial Controlling Class Representative, and any subsequent Controlling Class Representative, is hereby deemed
to have agreed and acknowledged by virtue of its purchase of a Class E Certificate (or beneficial ownership interest in such Certificate)
that its identity shall be reported monthly by the Certificate Administrator in the Distribution Date Statement.

 

The
Certificate Administrator, the Servicer and the Special Servicer will not be charged with knowledge of any Control Termination
Event or Consultation Termination Event, in each case, resulting from an affiliation of the Controlling Class Representative or
a majority of the Controlling Class Certificateholders (by Certificate Balance) with a Borrower Related Party, unless and until
it shall have received notice of such occurrence from the Controlling Class Representative or a majority of the Controlling Class
Certificateholders (by Certificate Balance) substantially in the form of Exhibit P upon which each party may conclusively
rely.

 

If
at any time that the person designated by BlackRock Financial Management, Inc. or any successor Controlling Class Representative
or Controlling Class Certificateholder(s) is no longer the Holder (or Beneficial Owner) of at least a majority of the Controlling
Class by Certificate Balance and the Certificate Registrar has neither (i) received notice of the then current Controlling Class
Certificateholders of at least a majority of the Controlling Class by Certificate Balance nor (ii) received notice of a replacement
Controlling Class Representative pursuant to this Agreement, then a Control Termination Event and a Consultation Termination Event
shall be deemed to have occurred and shall be deemed to continue until such time as the Certificate Administrator receives either
such notice.

 

Upon
receipt of notice of a change in Controlling Class Representative, the Certificate Administrator shall promptly forward notice
thereof to each other party to this Agreement.

 

(d)       [Reserved].

 

(e)       Until
it receives notice to the contrary, each of the Servicer, the Special Servicer the Depositor and the Trustee and the Certificate
Administrator shall be entitled to rely on the most recent notification with respect to the identity of the Certificateholders
of the Controlling Class and the Controlling Class Representative.

 

(f)       Notwithstanding
anything to the contrary contained herein, the holder of more than 50% of the Certificates of the Controlling Class (by Certificate
Balance) may, at any time, waive its right to act as or appoint a Controlling Class Representative and to exercise any of the
rights of the Controlling Class Representative or cause the exercise of any of the rights of the Controlling Class Representative
set forth in this Agreement, by irrevocable written notice

 

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delivered to the Depositor, Certificate Administrator, Trustee, Servicer
and Special Servicer. Any such waiver will remain effective with respect to such holder and the Controlling Class until such time
as that Certificateholder has (i) sold a majority of the Certificates of the Controlling Class (by Certificate Balance) to an
unaffiliated third party and (ii) certified to the Depositor, Certificate Administrator, Trustee, Servicer and Special Servicer
that (a) the transferor retains no direct or indirect voting rights with respect to the Certificates of the Controlling Class
that it does not own, (b) there is no voting agreement between the transferee and the transferor and (c) the transferor retains
no direct or indirect economic interest in the Controlling Class. Following any such transfer, the successor holder of more than
50% of the Certificates of the Controlling Class (by Certificate Balance) will again have the rights of the Controlling Class
Representative as described herein without regard to any prior waiver by the predecessor Certificateholder. Such successor Certificateholder
will also have the right to irrevocably waive its right to act as or appoint a Controlling Class Representative or to exercise
any of the rights of the Controlling Class Representative or cause the exercise of any of the rights of the Controlling Class
Representative. No such successor Certificateholder described above in this paragraph will have any consent rights with respect
to the Whole Loan if a Special Servicing Loan Event exists at the time of its acquisition of a majority of the Certificates of
the Controlling Class, until such Special Servicing Loan Event no longer exists. Whenever such an “opt-out” by a Controlling
Class Certificateholder is in effect, a Control Termination Event and a Consultation Termination Event shall be deemed to have
occurred and continue and the rights of the Holder of more than 50% of the Class E Certificates (by Certificate Balance) to act
as or appoint a Controlling Class Representative and the rights of the Controlling Class Representative shall not be operative.

 

Section 6.6.     Servicer
and Special Servicer Not to Resign. (a)  Each of the Servicer and Special Servicer may resign and assign its
respective rights and delegate its duties and obligations under this Agreement to any Person or to an entity, provided
that:

 

(i)       the
Person accepting such assignment and delegation (A) shall be an established mortgage finance institution, bank or mortgage
servicing institution having a net worth of not less than $25,000,000, organized and doing business under the laws of the United
States or of any state of the United States or the District of Columbia, authorized under such laws to perform the duties of the
Servicer or Special Servicer, as the case may be, (B) shall execute and deliver to the Trustee an agreement in form and substance
reasonably satisfactory to the Trustee, which contains an assumption by such Person of the performance and observance of each
covenant and condition to be performed or observed by the Servicer or Special Servicer, as the case may be, under this Agreement
from and after the date of such agreement; provided, however that to the extent such agreement modifies in any respect
any of the covenants, terms or conditions in this Agreement to be performed by the Servicer or Special Servicer, as the case may
be, such agreement shall be subject to the approval of the Trustee, such approval not to be unreasonably withheld, and (C) shall
make such representations and warranties of the Servicer or Special Servicer, as the case may be, as provided in Section 2.4 and Section 2.5;

 

(ii)       Rating
Agency Confirmation has been received;

 

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(iii)       the
Servicer or Special Servicer, as the case may be, shall not be released from its obligations under this Agreement that arose prior
to the effective date of such assignment and delegation under this Section 6.6(a);

 

(iv)       the
rate at which the Servicing Fee or Special Servicing Fee, as applicable (or any component thereof) is calculated shall not exceed
the rate then in effect; and

 

(v)       the
Servicer or Special Servicer, as the case may be, shall reimburse the Trustee, the Certificate Administrator, the Trust, and the
Rating Agencies for any expenses of such assignment, sale or transfer.

 

Any
attempted resignation and assignment shall be void, unless such resignation and assignment satisfies the conditions set forth
above. Upon satisfaction of the foregoing requirements and acceptance of such assignment, such Person shall be the successor Servicer
or Special Servicer, as the case may be, hereunder.

 

(b)       Other
than as set forth in Sections 6.2 and 6.6(a), none of the Servicer and the Special Servicer shall resign
from its obligations and duties hereby imposed on it, except upon determination that performance of its duties hereunder is no
longer permissible under applicable law or are in material conflict by reason of applicable law with any other activities carried
on by it. Any such determination permitting the resignation of the Servicer or the Special Servicer, as the case may be, shall
be evidenced by an Opinion of Counsel delivered to the Trustee and the Depositor. No resignation by the Servicer or the Special
Servicer, as applicable, under this Agreement shall become effective until a successor Servicer or Special Servicer, as applicable,
shall have assumed the responsibilities and obligations of the Servicer or the Special Servicer, as applicable, under this Agreement
in accordance with Section 7.2. Notwithstanding the previous sentence, each of the Servicer or Special Servicer may
assign its duties and obligations under this Agreement under certain limited circumstances as described herein.

 

(c)       In
the event the Special Servicer obtains knowledge that it has become a Borrower Related Party, the Special Servicer shall provide
notice to each of the other parties to this Agreement of such event and resign as Special Servicer and use reasonable efforts
to replace itself with a special servicer that is a Qualified Servicer, subject to the satisfaction of the conditions set forth
in the proviso to Section 6.4(a) and the agreement of a proposed successor to accept the same or lower compensation; provided that if no such appointment is made within thirty (30) days of the Special Servicer becoming a Borrower Affiliate, such failure
shall be deemed a Special Servicer Termination Event and the Trustee shall promptly deliver written notice to the Special Servicer
of the Special Servicer’s failure to perform the foregoing obligation. Prior to the occurrence and continuance of a Control
Termination Event, the Controlling Class Representative will be entitled to appoint (and replace with or without cause) a successor
special servicer that is a Qualified Servicer and not a Borrower Related Party in accordance with the terms herein, unless the
Controlling Class Representative is a Borrower Related Party. At any time after the occurrence and during the continuance of a
Control Termination Event, the resigning Special Servicer will be required to use reasonable efforts to appoint a successor special
servicer that is a Qualified Servicer and not a Borrower Related Party in accordance with the terms herein and shall, at the expense
of the Trust, petition any court of

 

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competent jurisdiction for the appointment of a successor special servicer if one is not appointed
within 60 days.

 

Section 6.7.     Indemnification
by the Servicer, the Special Servicer and the Depositor. Each of the Servicer, the Special Servicer and the Depositor,
severally and not jointly, shall indemnify and hold harmless the Trust, the Companion Loan Holders and each other party to
this Agreement from and against any claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and
expenses and related costs, judgments and other costs and expenses incurred by the Trust, the Certificate Administrator, the
Trustee or such other party that arise out of or are based upon (i) a breach by the Servicer, the Special Servicer or
the Depositor, as the case may be, of its representations and warranties under this Agreement or (ii) negligence, bad
faith or willful misconduct on the part of the Servicer, the Special Servicer or the Depositor, as the case may be, in the
performance of such obligations or its reckless disregard of its obligations and duties under this Agreement.

 

Article
7

SERVICER TERMINATION EVENTS; SPECIAL

SERVICER TERMINATION EVENTS;

TERMINATION OF SPECIAL SERVICER WITHOUT CAUSE

 

Section 7.1.     Servicer
Termination Events; Special Servicer Termination Events. (a)  “Servicer Termination Event,”
or “Special Servicer Termination Event” wherever used herein with respect to the Servicer or the Special Servicer,
as the case may be, means any one of the following events whether it shall be voluntary or involuntary or be effected by operation
of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental
body:

 

(i)       any
failure by the Servicer or Special Servicer, as applicable, to remit any payment required to be made or remitted by it (other
than Advances described under clause (ii) below) when required to be remitted under the terms of this Agreement, which
failure is not cured by 11:00 a.m., New York time, on the first Business Day following the date on which such remittance was required
to be made;

 

(ii)       any
failure of the Servicer (a) to make any Monthly Payment Advance required to be made pursuant to this Agreement on or prior
to the applicable Remittance Date that is not cured by 11:00 a.m., New York time, on the related Distribution Date, (b) to
make any Administrative Advance required to be made pursuant to this Agreement on or prior to the applicable Remittance Date that
is not cured by 11:00 a.m., New York time, on the related Distribution Date, or (c) to make any Property Protection Advance
required to be made pursuant to this Agreement when the same is due and such failure continues unremedied for 10 Business Days
(or such shorter period (not less than one Business Day) as would prevent a lapse in insurance or a delinquent payment of real
estate taxes or ground rents) following the date on which the Servicer receives notice thereof or should have had notice thereof
if it had been acting in accordance with the Accepted Servicing Practices;

 

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(iii)       any
failure by the Servicer or the Special Servicer, as applicable, to observe or perform in any material respect any other of its
covenants or agreements or the material breach of its representations or warranties under this Agreement, which failure or breach
shall continue unremedied for a period of 30 days after the date on which written notice of such failure or breach is given
to the Servicer or Special Servicer, as applicable, by the Trustee or to the Servicer or Special Servicer, as applicable, and
the Trustee by the Holders of Certificates having greater than 25% of the aggregate Voting Rights of all then outstanding Certificates;
provided, however, that with respect to any such failure or breach that is not curable within such 30-day period,
the Servicer or the Special Servicer, as applicable, will have an additional cure period of 30 days to effect such cure so
long as the Servicer or the Special Servicer, as appropriate, has commenced to cure such failure within the initial 30-day period
and has provided the Trustee with an officer’s certificate certifying that it has diligently pursued, and is continuing
to diligently pursue, such cure;

 

(iv)       a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding-up or liquidation of its affairs, shall have been entered against the Servicer or the Special Servicer, as applicable,
and such decree or order has remained in force undischarged or unstayed for a period of sixty (60) days; provided, however,
that, with respect to any such decree or order that cannot be discharged, dismissed or stayed within such sixty (60) day period,
the Servicer or the Special Servicer, as appropriate, will have an additional period of thirty (30) days to effect such discharge,
dismissal or stay so long as it has commenced proceedings to have such decree or order dismissed, discharged or stayed within
the initial sixty (60) day period and has diligently pursued, and is continuing to pursue, such discharge, dismissal or stay;

 

(v)       the
Servicer or the Special Servicer, as applicable, shall consent to the appointment of a conservator or receiver or liquidator or
liquidation committee in any insolvency, readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or
similar proceedings of or relating to the Servicer or the Special Servicer or of or relating to all or substantially all of its
property;

 

(vi)       the
Servicer or the Special Servicer, as applicable, shall admit in writing its inability to pay its debts generally as they become
due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit
of its creditors, or voluntarily suspend payment of its obligations;

 

(vii)       the
Servicer or the Special Servicer is no longer listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Master
Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, in connection therewith and the Servicer or the Special
Servicer is not reinstated to such status on such list within 60 days;

 

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(viii)       (a)
the Servicer or the Special Servicer, as applicable, has failed to maintain a ranking by Morningstar equal to or higher than “MOR
CS3” as a master servicer or a special servicer, as applicable, and such ranking is not reinstated within 60 days of such
event (if the Servicer or the Special Servicer, as applicable, has or had a Morningstar ranking on or after the Closing Date)
or (b) if the Servicer or the Special Servicer as applicable, has not been ranked by Morningstar on or after the Closing Date,
and Morningstar has qualified, downgraded or withdrawn the then-current ratings or ratings of one or more Classes of Certificates
or placed one or more Classes of Certificates on “watch status” in contemplation of a rating downgrade or withdrawal,
publicly citing servicing concerns with the Servicer or the Special Servicer, as applicable, as the sole or material factor in
such rating action (and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn
by Morningstar within 60 days of such event);

 

(ix)       a
Companion Loan Rating Agency has (A) qualified, downgraded or withdrawn its rating or ratings of one or more classes of Companion
Loan Securities, or (B) placed one or more classes of Companion Loan Securities on “watch status” in contemplation
of rating downgrade or withdrawal and, in the case of either of clauses (A) or (B), citing servicing concerns with the Servicer
or the Special Servicer, as applicable, as the sole or material factor in such rating action (and such qualification, downgrade,
withdrawal or “watch status” placement has not been withdrawn by such Companion Loan Rating Agency within sixty (60)
days of such event); and

 

(x)       so
long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Servicer or Special Servicer,
as applicable, or any primary servicer, Sub-Servicer or Servicing Function Participant (such entity, the “Sub-Servicing
Entity”) retained by the Servicer or Special Servicer, shall fail to deliver the items required to be delivered by this
Agreement to enable such Other Securitization Trust to comply with its reporting obligations under the Exchange Act within the
time frame set forth for delivery in Article 12 (including any applicable grace periods) (any Sub-Servicing Entity that
defaults in accordance with this Section 7.1(a)(x) shall be terminated at the direction of the Depositor).

 

(b)       Upon
the occurrence of any Servicer Termination Event or Special Servicer Termination Event, unless such Servicer Termination Event
or Special Servicer Termination Event has been cured or waived, the Trustee shall (i) provide written notice to the Depositor
and the Certificate Administrator and the Certificate Administrator shall post notice of the same upon its receipt thereof on
the Certificate Administrator’s Website and provide notice to the Companion Loan Holders; (ii) provide written notice
to the Rating Agencies, subject to Section 10.16; and (iii) provide notice thereof to all Certificateholders
by mail to the addresses set forth on the Certificate Register. For avoidance of doubt, (i) the occurrence of a Servicer
Termination Event with respect to the Servicer shall not cause there to have occurred a Special Servicer Termination Event with
respect to the Special Servicer unless the relevant event also constitutes a Special Servicer Termination Event and (ii) the
occurrence of a Special Servicer Termination Event with respect to the Special Servicer shall not cause there to have occurred
a Servicer Termination Event with respect to the Servicer unless the relevant event also constitutes a Servicer Termination Event.

 

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(c)       If
a Servicer Termination Event or Special Servicer Termination Event shall occur then, and in each and every such case, so long
as such Servicer Termination Event or Special Servicer Termination Event shall not have been remedied, either (i) the Trustee
may, or (ii) upon the written direction of Holders of Certificates having at least 25% of the Voting Rights (taking into
account the application of the Appraisal Reduction Amount to notionally reduce the Certificate Balances of the Certificates) of
the Certificates or, if pursuant to clause (ix) or (x) above, by the Companion Loan Holders), the Trustee shall terminate all
of the rights and obligations of the Servicer or the Special Servicer, as applicable, under this Agreement, other than rights
and obligations accrued prior to such termination, and in and to the Whole Loan and the proceeds thereof by notice in writing
to the Servicer or the Special Servicer, as applicable. Upon any termination of the Servicer or the Special Servicer, as applicable,
and appointment of a successor to the Servicer or the Special Servicer, as applicable, the Trustee shall promptly notify the Certificate
Administrator and the Certificate Administrator shall post to the Certificate Administrator’s Website such written notice
thereof to the Depositor and the Certificateholders and, comply with giving notice to the Rating Agencies pursuant to Section 10.17.
Notwithstanding the foregoing, (a) if a Servicer Termination Event on the part of the Servicer or a Special Servicer Termination
Event on the part of the Special Servicer affects a Companion Loan, any holder thereof or the rating on a class of Companion Loan
securities, then the related affected Companion Loan Holder will be able to require termination of (i) the Servicer, if a Servicer
Termination Event pursuant to clause (ix) or (xi) above has occurred and (ii) the Special Servicer (subject to the
right of the Controlling Class Representative to appoint a successor Special Servicer so long as no Control Termination Event
is continuing) and (b) if any Servicer Termination Event on the part of the Servicer affects a Companion Loan, the related Companion
Loan Holder or the rating on a class of the related Companion Loan securities, and if the Servicer is not otherwise terminated,
then the Servicer may not be terminated by or at the direction of the related Companion Loan Holder, but upon the written direction
of the related Companion Loan Holder, the Servicer shall be required to appoint a sub-servicer that will be responsible for servicing
the related Whole Loan.

 

(d)       In
the event that the Servicer or Special Servicer is terminated pursuant to this Section 7.1, the Trustee (the “Terminating
Party”) shall, by notice in writing to the Servicer or Special Servicer, as the case may be (the “Terminated
Party”) (with a copy to the Loan Borrower), terminate all of its rights and obligations under this Agreement and in
and to the Whole Loan and the proceeds thereof, other than any rights the Terminated Party may have hereunder as a Certificateholder,
to the Excess Servicing Fee Right and any rights or obligations that accrued prior to the date of such termination (including
the right to receive all amounts accrued or owing to it under this Agreement with respect to periods prior to the date of such
termination and the right to the benefits of Section 6.3 notwithstanding any such termination). On or after the receipt
by the Terminated Party of such written notice, subject to the foregoing, all of its authority and power under this Agreement,
whether with respect to the Certificates (except that the Terminated Party shall retain its rights as a Certificateholder in the
event and to the extent that it is a Certificateholder) or the Trust Loan or otherwise, shall pass to and be vested in the Terminating
Party pursuant to and under this Section 7.1 and, without limitation, the Terminating Party is hereby authorized and
empowered to execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney-in-fact or otherwise, any
and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the
purposes of such notice of termination, whether to complete the transfer and

 

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endorsement or assignment of the Trust Loan and related
documents, or otherwise. The Servicer and the Special Servicer, as applicable, each agrees that, in the event it is terminated
pursuant to this Section 7.1, or resigns under Section 6.6(b), to promptly (and in any event no later
than ten Business Days subsequent to such notice) provide, at its own expense, the Terminating Party (which term shall include
for the purposes of the remainder of this Section 7.1(d), the Trustee (or a successor Servicer or Special Servicer)
in connection with a resignation of the Servicer or the Special Servicer under Section 6.6(b)) with all documents
and records requested by the Terminating Party to enable the Terminating Party to assume its functions hereunder, and to cooperate
with the Terminating Party and the successor to its responsibilities hereunder in effecting the termination of its responsibilities
and rights hereunder, including, without limitation, the transfer to the successor Servicer or Special Servicer, as applicable,
or the Terminating Party, as applicable, for administration by it of all cash amounts which shall at the time be or should have
been credited by the Terminated Party (which term shall include, for the purposes of the remainder of this Section 7.1(d),
the resigning party in connection with a resignation of the Servicer or the Special Servicer under Section 6.6(b))
to the Collection Account, any Foreclosed Property Account or shall thereafter be received with respect to the Whole Loan, and
shall promptly provide the Terminating Party or such successor Servicer or Special Servicer, as applicable (which may include
the Trustee), all documents and records reasonably requested by it, such documents and records to be provided in such form as
the Terminating Party or such successor Servicer or the Special Servicer, as applicable, shall reasonably request (including electromagnetic
form), to enable it to assume the function of the Servicer or Special Servicer, as applicable, hereunder. All reasonable costs
and expenses of the Terminating Party or the successor Servicer or Special Servicer, as applicable, incurred in connection with
transferring the Mortgage File to the Terminating Party or to the successor Servicer or Special Servicer, as applicable, and amending
this Agreement to reflect such succession pursuant to this Section 7.1 shall be paid by the Terminated Party upon
presentation of reasonable documentation of such costs and expenses. If the Terminated Party has not reimbursed the Terminating
Party or such successor Servicer or Special Servicer, as applicable, for such expenses within 90 days after the presentation
of reasonable documentation, such expense shall be reimbursed by the Trust pursuant to Section 3.4(c); provided
that the Terminated Party shall not thereby be relieved of its liability for such expenses. Notwithstanding the foregoing,
in the event the Special Servicer is terminated without cause pursuant to Section 6.4, all costs and expenses incurred
or payable by the terminated Special Servicer under this Section 7.1 shall be paid by the Trust Fund.

 

(e)       Notwithstanding
anything herein to the contrary, the Depositor shall have the right, but not the obligation, to notify the Trustee of any Servicer
Termination Event or Special Servicer Termination Event of which the Depositor becomes aware. In no event shall the Trustee be
deemed to have knowledge of or be aware of any Servicer Termination Event or Special Servicer Termination Event until a Responsible
Officer of the Trustee has received written notice thereof or has actual knowledge thereof.

 

Section 7.2.     Trustee
to Act; Appointment of Successor. (a) On and after the time the Servicer or Special Servicer, as the case may be,
receives a notice of termination pursuant to Section 7.1, or resigns pursuant to Section 6.4(b), the
Terminating Party (which term shall include, for the purposes of the remainder of this Section 7.2, the Trustee
(or a successor Servicer or Special Servicer including a successor appointed under Section 6.4(a)) in connection

 

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with a resignation of the Servicer or the Special Servicer under Section 6.6(b)) shall, unless prohibited by law,
be the successor to the Terminated Party (which term shall include, for the purposes of the remainder of this Section 7.2,
the resigning party in connection with a resignation of the Servicer of the Special Servicer under Section 6.6(b))
in all respects under this Agreement and the transactions set forth or provided for herein and, except as provided herein,
shall be subject to all the responsibilities, duties, limitations on liability and liabilities relating thereto and arising
thereafter placed on the Terminated Party by the terms and provisions hereof; provided, however, that
(i) neither the Trustee nor the Terminating Party (or any successor Servicer or Special Servicer, as the case may be)
shall have responsibilities, duties, liabilities or obligations with respect to any act or omission of the Terminated Party
and (ii) any failure to perform, or delay in performing, such duties or responsibilities caused by the Terminated
Party’s failure to provide, or delay in providing, records, tapes, disks, information or monies or failure to cooperate
as required by this Agreement shall not be considered a default by the Terminating Party or such successor hereunder. The
Trustee, as successor Servicer, and any other successor Servicer or Special Servicer, as the case may be, shall be
indemnified to the full extent provided to the Trustee under this Agreement. The appointment of a successor Servicer or
Special Servicer, as the case may be, shall not affect any liability of the Terminated Party that may have arisen prior to
its termination as such. The Terminating Party shall not be liable for any of the representations and warranties of
the Terminated Party herein or in any related document or agreement, for any acts or omissions of the Terminated Party or for
any losses incurred in respect of any Permitted Investment by the Terminated Party nor shall the Terminating Party or any
successor Servicer or Special Servicer be required to purchase the Whole Loan hereunder. As compensation therefor, the
Terminating Party as successor Servicer or Special Servicer, as the case may be, shall be entitled to all compensation with
respect to the Whole Loan to which the Terminated Party would have been entitled that accrues after the date of the
Terminating Party’s succession to which the Terminated Party would have been entitled if it had continued to act
hereunder and, in the case of a successor Special Servicer, the Special Servicing Fee. Notwithstanding the above, the Trustee
may, if it shall be unwilling to so act, or shall, if it is unable to so act, or if the Holders of Certificates having
greater than 25% of the aggregate Voting Rights of all then outstanding Certificates so request in writing to the Trustee, or
the Trustee is not approved by the Rating Agencies as a Servicer or Special Servicer, as the case may be, as evidenced by a
Rating Agency Confirmation, or if the Rating Agencies do not provide written confirmation that the succession of the Trustee
as Servicer or Special Servicer, as the case may be, will not cause a downgrade, qualification or withdrawal of the then
current ratings of the Certificates, promptly appoint, or petition a court of competent jurisdiction to appoint, any
established loan servicing institution reasonably satisfactory to the Trustee the appointment for which a Rating Agency
Confirmation is obtained, as the successor to the Servicer or Special Servicer, as applicable, hereunder in the assumption of
all or any part of the responsibilities, duties or liabilities of the Servicer or Special Servicer, as applicable, hereunder; provided
that for so long as no Control Termination Event has occurred or is continuing the Controlling Class Representative shall
have the right to approve any such successor Special Servicer. No appointment of a successor to a Terminated Party hereunder
shall be effective until the assumption by such successor of all the Terminated Party’s responsibilities, duties and
liabilities hereunder. Pending appointment of a successor to a Terminated Party hereunder, unless the Trustee shall be
prohibited by law from so acting, the Trustee shall act in the applicable capacity as herein above provided. In
connection with such appointment and assumption described

 

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herein, the Trustee may make such arrangements for the compensation
of such successor out of payments on the Whole Loan as it and such successor shall agree; provided, however,
that no such compensation shall be in excess of that permitted to the Terminated Party hereunder, except that if no successor
to the Terminated Party can be obtained to perform the obligations of such Terminated Party hereunder, additional amounts
shall be paid to such successor and such amounts in excess of that permitted to the Terminated Party shall be paid pursuant
to Section 3.4(c); provided, further; that, for so long as no Consultation Termination Event has
occurred and is continuing, the Trustee shall consult with the Controlling Class Representative (on a non-binding basis)
prior to the appointment of a successor to the Terminated Party at such amounts in excess of that permitted the Terminated
Party. The Depositor, the Certificate Administrator, the Trustee, the Servicer (as applicable), the Special Servicer (as
applicable) and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate
any such succession.

 

(b)       Notwithstanding
Section 7.1(c), Section 7.1(d) or Section 7.2(a), if a Servicer receives a notice of termination
solely due to a Servicer Termination Event under Sections 7.1(vii) or (viii) and the terminated Servicer provides
the Trustee with the appropriate “request for proposal” materials within five (5) Business Days after such termination,
then such Servicer shall continue to serve as Servicer, and the Trustee shall promptly thereafter (using such “request for
proposal” materials provided by the terminated Servicer) solicit good faith bids for the rights to master service the Whole
Loan from at least three (3) Persons qualified to act as successor Servicer hereunder in accordance with Section 7.2 for
which the Trustee has received Rating Agency Confirmation (any such Person so qualified, a “Qualified Bidder”)
or, if three (3) Qualified Bidders cannot be located, then from as many Persons as are Qualified Bidders; provided, however, that
(i) the terminated Servicer shall supply the Trustee with the names of Persons who are Qualified Bidders (subject to receipt
of Rating Agency Confirmation) from whom to solicit such bids; and (ii) the Trustee shall not be responsible if less than
three (3) or no Qualified Bidders submit bids for the right to master service the Whole Loan under this Agreement. The bid proposal
shall require any Successful Bidder (as defined below), as a condition of such bid, to enter into this Agreement as successor
Servicer with respect to the Whole Loan, and to agree to be bound by the terms hereof, within forty-five (45) days after the receipt
by the terminated Servicer of a notice of termination. The Trustee shall solicit bids (i) on the basis of such successor
Servicer entering into a Sub-Servicing Agreement with the terminated Servicer to service the Whole Loan at a sub-servicing fee
rate per annum equal to the Servicing Fee Rate over the Excess Servicing Fee Rate (each, a “Servicing-Retained Bid”)
and (ii) on the basis of having no obligation to enter into a Sub-Servicing Agreement with the terminated Servicer (each,
a “Servicing-Released Bid”). The Trustee shall select the Qualified Bidder with the highest cash Servicing-Retained
Bid (or, if none, the highest cash Servicing Released Bid) (the “Successful Bidder”) to act as successor Servicer
hereunder. The Trustee shall request the Successful Bidder to enter into this Agreement as successor Servicer pursuant to the
terms hereof (and, if the successful bid was a Servicing-Retained Bid, to enter into a Sub-Servicing Agreement with the terminated
Servicer as contemplated above), no later than forty-five (45) days after the termination of the terminated Servicer. Upon the
assignment and acceptance of the servicing rights hereunder to and by the Successful Bidder, the Trustee shall remit or cause
to be remitted to the terminated Servicer the amount of such cash bid received from the Successful Bidder (net of reasonable “out
of pocket” expenses incurred by the Trustee in connection with obtaining such bid and transferring servicing).

 

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If
the Trustee or an Affiliate acts pursuant to this Section 7.2 as successor to the resigning or terminated Servicer,
it may reduce such terminated Servicer’s Excess Servicing Fee Rate to the extent that its or such Affiliate’s compensation
as successor Servicer would otherwise be below market rate servicing compensation. If the Trustee elects to appoint a successor
to the resigning or terminated Servicer other than itself or an Affiliate pursuant to this Section 7.2, it may reduce
such Servicer’s Excess Servicing Fee Rate to the extent reasonably necessary (in the sole discretion of the Trustee) for
the Trustee to appoint a qualified successor servicer that meets the requirements of this Section 7.2 and Section 6.6.

 

Section 7.3.     Notification
to Certificateholders, the Depositor and the Rating Agencies.

 

(a)       Upon
any termination of the Servicer or the Special Servicer, as the case may be, pursuant to Section 7.1 or appointment
of a successor to the Servicer or Special Servicer, as the case may be, the Certificate Administrator shall, as soon as practicable,
give written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register and to the
Depositor and, subject to Section 10.17, the Rating Agencies.

 

(b)       Within
30 days after the occurrence of any Servicer Termination Event or Special Servicer Termination Event of which a Responsible
Officer of the Certificate Administrator has actual knowledge, the Certificate Administrator shall transmit by mail to all Holders
of Certificates and to the Depositor and, subject to Section 10.17, the Rating Agencies notice of such Servicer Termination
Event or Special Servicer Termination Event, as the case may be, unless such Servicer Termination Event or Special Servicer Termination
Event or shall have been cured or waived.

 

Section 7.4.     Other
Remedies of Trustee. During the continuance of any Servicer Termination Event or Special Servicer Termination Event, as
the case may be, or so long as such Servicer Termination Event or Special Servicer Termination Event shall not have been
remedied, the Trustee, in addition to the rights specified in Section 7.1, shall have the right, in its own name
as trustee of an express trust, to take all actions now or hereafter existing at law, in equity or by statute to enforce its
rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders and the
Companion Loan Holders (including the institution and prosecution of all judicial, administrative and other proceedings and
the filing of proofs of claim and debt in connection therewith). In such event, the legal fees, expenses and costs of such
action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust, and the Trustee shall be
entitled to be reimbursed therefor pursuant to Section 3.4(c) from the Collection Account. Except as otherwise
expressly provided in this Agreement, no remedy provided for by this Agreement shall be exclusive of any other remedy, and
each and every remedy shall be cumulative and in addition to any other remedy and no delay or omission to exercise any right
or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Servicer Termination Event or
Special Servicer Termination Event.

 

Section 7.5.     Waiver
of Past Servicer Termination Events and Special Servicer Termination Events. The Holders of Certificates evidencing not
less than 66-2/3% of the aggregate Voting Rights of all then outstanding Certificates and each affected Companion Loan Holder
may, on behalf of all Certificateholders and upon adequate indemnification of the Trustee

 

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by the requesting Holders of
Certificates, waive any default by the Servicer or the Special Servicer in the performance of its obligations hereunder and
its consequences, except a default in making any required deposits (including Monthly Payment Advances) to or payments from
the Collection Account, the Distribution Account or any Foreclosed Property Account or in remitting payments as received, in
each case in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and
the related Servicer Termination Event or Special Servicer Termination Event arising therefrom shall be deemed to have been
remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any
right related thereto.

 

Section 7.6.
     Trustee as Maker of Advances. In the event that the Servicer fails to fulfill its
obligations hereunder to make any Advances, the Trustee shall perform such obligations (w) within five Business Days (or
such shorter period (but not less than one Business Day) as may be required, if applicable, to avoid any lapse in insurance
coverage required under the Loan Documents or this Agreement with respect to the Property or to avoid any foreclosure or
similar action with respect to the Property by reason of failure to pay real estate taxes, assessments or governmental
charges) of a Responsible Officer of the Trustee obtaining knowledge of such failure by the Servicer or the Special Servicer
with respect to Property Protection Advances and Administrative Advances and (x) by 12:00 noon New York time on the
related Distribution Date with respect to Monthly Payment Advances. With respect to any such Advance made by the Trustee, the
Trustee shall succeed to all of the Servicer’s and/or the Special Servicer’s rights, as applicable, with respect
to Advances hereunder, including, without limitation, the rights of reimbursement and interest on each Advance at the Advance
Rate, and rights to determine that a proposed Advance is a Nonrecoverable Advance (without regard to any impairment of any
such rights of reimbursement caused by such Servicer’s and/or the Special Servicer’s default in its obligations
hereunder and further subject to the Trustee’s standard of good faith judgment); provided, however, that
if Advances made by the Trustee, the Servicer and/or the Special Servicer shall at any time be outstanding, or any interest
on any Advance shall be accrued and unpaid, all amounts available to repay such Advances and the interest thereon hereunder
shall be applied entirely to the Advances outstanding to the Trustee until such Advances shall have been repaid in full,
together with all interest accrued thereon, prior to reimbursement of the Servicer and/or the Special Servicer, as
applicable, for such Advances and interest accrued thereon. The Trustee shall be entitled to conclusively rely on any notice
given by the Servicer and/or the Special Servicer, as applicable, with respect to a Nonrecoverable Advance hereunder. The
Trustee shall notify the master servicer and trustee with respect to each Other Securitization Trust of the amount of any
Monthly Payment Advance made by it pursuant to this Section 7.6 within two (2) Business Days of making
such advance.

 

Article
8

THE TRUSTEE AND CERTIFICATE ADMINISTRATOR

 

Section 8.1.     Duties
of the Trustee and the Certificate Administrator. (a)  Each of the Trustee and the Certificate Administrator,
and with respect to the Trustee prior to the occurrence of a Servicer Termination Event or Special Servicer Termination
Event, as the case may be, and after the curing or waiver of any Servicer Termination Event or Special Servicer

 

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Termination
Event that may have occurred, undertakes with respect to the Trust Fund to perform such duties and only such duties as are
specifically set forth in this Agreement. Neither the Depositor nor the Servicer nor the Special Servicer shall be obligated
to monitor or supervise the performance by the Trustee or the Certificate Administrator of its duties hereunder. In case a
Servicer Termination Event or Special Servicer Termination Event has occurred (which has not been cured or waived), the
Trustee, subject to the provisions of Section 7.3, shall exercise such of the rights and powers vested in it by
this Agreement, and shall use the same degree of care and skill in their exercise, as a prudent institution would exercise or
use under the circumstances in the conduct of such institution’s own affairs. Any permissive right of the Trustee or
the Certificate Administrator set forth in this Agreement shall not be construed as a duty. The Trustee (or the Servicer or
the Special Servicer on its behalf) shall have the power to exercise all the rights of a holder of the Whole Loan on behalf
of the Certificateholders and the Companion Loan Holders (or, if a Companion Loan Holder is an Other Securitization Trust,
the related Other Depositor or Other Trustee), subject to the terms of the Loan Documents and the Co-Lender
Agreement.

 

(b)       Subject
to Sections 8.2(a) and 8.3, each of the Trustee and the Certificate Administrator, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee or the Certificate
Administrator that are specifically required to be furnished to it pursuant to any provision of this Agreement, shall examine,
or cause to be examined, such instruments to determine whether they conform to the requirements of this Agreement to the extent
specifically set forth herein. If any such instrument is found on its face not to conform to the requirements of this Agreement
in a material manner, the Trustee or the Certificate Administrator, as applicable, shall make a request to the Depositor to have
the instrument corrected, and if the instrument is not corrected to the Trustee’s or the Certificate Administrator’s
reasonable satisfaction, the Trustee or the Certificate Administrator shall provide notice thereof to the Certificateholders.
Neither the Trustee nor the Certificate Administrator shall be responsible for the accuracy or content of any resolution, certificate,
statement, opinion, report, document, order or other instrument furnished by the Depositor, the Servicer, or the Special Servicer
and accepted by the Trustee or the Certificate Administrator, as the case may be, in good faith, pursuant to this Agreement.

 

(c)       Subject
to Section 8.3, no provision of this Agreement shall be construed to relieve the Trustee or the Certificate Administrator
from liability for its own negligent action, its own negligent failure to act, its own willful misconduct or bad faith, provided,
however, that:

 

(i)       no
implied covenants or obligations shall be read into this Agreement against the Trustee or the Certificate Administrator and each
of the Trustee and the Certificate Administrator may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and/or the Certificate Administrator
(including those provided pursuant to Section 10.1) and conforming to the requirements of this Agreement which it
reasonably believes in good faith to be genuine and to have been duly executed by the proper authorities respecting any matters
arising hereunder;

 

(ii)       the
Trustee and the Certificate Administrator shall not be liable for an error of judgment made in good faith by a Responsible Officer
of the Trustee or the

 

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Certificate Administrator, unless it shall be proved that the Trustee or the Certificate Administrator or
such Responsible Officer, as applicable, was negligent in ascertaining the pertinent facts;

 

(iii)       the
Trustee and the Certificate Administrator shall not be liable with respect to any action taken, suffered or omitted to be taken
by it in good faith in accordance with this Agreement or at the direction of Holders of Certificates evidencing, in the aggregate,
not less than 25% of the Voting Rights of the Certificates, relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee or the Certificate Administrator, or exercising any trust or power conferred upon the
Trustee or the Certificate Administrator, under this Agreement;

 

(iv)       the
Trustee and the Certificate Administrator shall not be charged with knowledge of any failure by the Servicer or the Special Servicer
to comply with any of their respective obligations referred to in Section 7.1 or any other act or circumstance upon
the occurrence of which the Trustee or the Certificate Administrator, as applicable, may be required to take action unless a Responsible
Officer of the Trustee or the Certificate Administrator, as applicable, obtains actual knowledge of such failure, act or circumstance
or the Trustee or the Certificate Administrator, as applicable, receives written notice of such failure from the Servicer, the
Special Servicer, the Depositor, the Loan Borrower or Holders of the Certificates evidencing, in the aggregate, not less than
25% of the Voting Rights of the Certificates.

 

(v)       subject
to the other provisions of this Agreement and without limiting the generality of Sections 8.1 and 8.2, the
Trustee shall have no duty except in the capacity as a successor Servicer or successor Special Servicer (A) to see to any
recording, filing or depositing of this Agreement or any agreement referred to herein or any financing statement or continuation
statement evidencing a security interest, or to see to the maintenance of any such recording or filing or depositing or to any
re-recording, refiling or redepositing thereof (except as set forth in Section 2.1(b)), (B) to see to any insurance,
and (C) to confirm or verify the contents of any reports or certificates of the Servicer or the Special Servicer delivered
to the Trustee or the Certificate Administrator pursuant to this Agreement reasonably believed by the Trustee or the Certificate
Administrator to be genuine and to have been signed or presented by the proper party or parties; and

 

(vi)       for
all purposes under this Agreement, the Trustee shall not be required to take any action with respect to, and neither the Certificate
Administrator or Trustee shall be deemed to have notice or knowledge of any Loan Event of Default, Servicer Termination Event
or Special Servicer Termination Event unless a Responsible Officer of the Trustee or the Certificate Administrator, as applicable,
has actual knowledge thereof or shall have received written notice thereof. In the absence of receipt of such notice and such
actual knowledge otherwise obtained, the Trustee and the Certificate Administrator may conclusively assume that there is no Loan
Event of Default, Servicer Termination Event or Special Servicer Termination Event.

 

(d)       None
of the provisions contained in this Agreement shall in any event require the Trustee or the Certificate Administrator to (i) expend
or risk its own funds or

 

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otherwise incur personal financial liability in the performance of any of its duties hereunder or in
the exercise of any of its rights or powers hereunder if there are reasonable grounds for believing that repayment of such funds
or adequate indemnity against such risk or liability is not reasonably assured to it, or (ii) perform, or be responsible
for the manner of performance of, any of the obligations of the Servicer or the Special Servicer under this Agreement, except
with respect to the Trustee, during such time, if any, as the Trustee shall be the successor to, and be vested with the rights,
duties, powers and privileges of, the Servicer or the Special Servicer in accordance with the terms of this Agreement. Notwithstanding
anything contained herein, neither the Trustee nor the Certificate Administrator shall be responsible or have liability in connection
with the duties assumed by the Authenticating Agent, the Custodian, the 17g-5 Information Provider and the Certificate Registrar
hereunder, unless the Trustee or the Certificate Administrator is acting in any such capacity hereunder; provided, further,
that in any such capacity the Trustee and the Certificate Administrator shall have all of the rights, protections and indemnities
provided to it as Trustee and the Certificate Administrator hereunder, as applicable.

 

In
no event shall the Certificate Administrator or Trustee be liable for any failure or delay in the performance of its obligations
hereunder because of circumstances beyond the Certificate Administrator’s or Trustee’s control, including, but not
limited to force majeure or acts of God.

 

(e)       The
Servicer, the Special Servicer or the Trustee may at any time request from the Certificate Administrator written confirmation
of whether a Control Termination Event occurred during the previous calendar year and the Certificate Administrator shall deliver
such confirmation, based on information in its possession, to the requesting party within 15 days of such request.

 

Section 8.2.     Certain
Matters Affecting the Trustee and the Certificate Administrator. (a)  Except as otherwise provided in Section 8.1:

 

(i)       each
of the Trustee and the Certificate Administrator may request and rely upon and shall be protected in acting or refraining from
acting upon any resolution, Officer’s Certificate, auditor’s certificate or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, bond or other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or parties;

 

(ii)       each
of the Trustee and the Certificate Administrator may consult with any nationally recognized counsel, and the advice of such counsel
or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or
omitted by it hereunder in good faith and in accordance with such Opinion of Counsel;

 

(iii)       neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in
it by this Agreement or to institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or
direction of any of the Certificateholders, pursuant to the provisions of this

 

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 Agreement, unless such Certificateholders shall
have offered to the Trustee or the Certificate Administrator reasonable security or indemnity reasonably satisfactory to it against
the costs, expenses and liabilities, including reasonable legal fees, which may be incurred therein or thereby; provided,
however, that nothing contained herein shall relieve the Trustee of the obligation, upon the occurrence of a Servicer Termination
Event or Special Servicer Termination Event, as the case may be (which has not been cured or waived), to exercise such of the
rights and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs;

 

(iv)       neither
the Trustee nor the Certificate Administrator shall be liable for any action reasonably taken, suffered or omitted by it in good
faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;

 

(v)       prior
to the occurrence of a Servicer Termination Event or Special Servicer Termination Event hereunder and after the curing or waiver
of such Servicer Termination Event or Special Servicer Termination Event that may have occurred, the Trustee shall not be bound
to ascertain or inquire as to the performance or observance of any of the terms, conditions, covenants or agreements herein (except
as specifically required by this Agreement) or to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested
in writing so to do by Holders of Certificates evidencing, in the aggregate, not less than 25% of the Voting Rights of the outstanding
Certificates; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses
or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably
assured to the Trustee by the security afforded to it by the terms of this Agreement, the Trustee may require indemnity satisfactory
to it against such costs, expenses or liabilities as a condition to taking any such action. The reasonable expense of every such
investigation shall be paid by the Trust pursuant to Section 3.4(c) in the event that such investigation relates to
a Servicer Termination Event or Special Servicer Termination Event, if such an event shall have occurred and is continuing, and
otherwise by the Certificateholders requesting the investigation;

 

(vi)       each
of the Trustee and the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder
either directly or by or through agents or attorneys selected by it with due care;

 

(vii)       neither
the Trustee nor the Certificate Administrator shall be required to post any kind of bond or surety in connection with the execution
and performance of its duties hereunder, and in no event shall the Trustee or the Certificate Administrator be liable for punitive,
special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if
the Trustee or the Certificate Administrator, as applicable, has been advised of the likelihood of such loss or damage;

 

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(viii)       the
Certificate Administrator and its Affiliates are permitted to receive additional compensation that could be deemed to be in the
Certificate Administrator’s economic self-interest for (i) serving as investment advisor, administrator, shareholder, servicing
agent, custodian or sub-custodian with respect to certain Permitted Investments, (ii) using affiliates to effect transactions
in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments. Such compensation shall not
be an amount that is reimbursable or payable by the Trust or any other party pursuant to this Agreement;

 

(ix)       except
as otherwise expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity hereunder
will not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity that is unrelated
to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting in any other capacity
hereunder, except, in the case of either clause (a) or clause (b), where some or all of the obligations performed in such capacities
are performed by one or more employees within the same group or division of Wells Fargo Bank, National Association, or where the
groups or divisions responsible for performing the obligations in such capacities have one or more of the same Responsible Officers;
provided, however, the knowledge of employees performing special servicing functions shall not be imputed to employees performing
master servicing functions, and the knowledge of employees performing master servicing functions shall not be imputed to employees
performing special servicing functions;

 

(x)       nothing
herein shall require the Trustee or the Certificate Administrator to act in any manner that is contrary to applicable law; and

 

(xi)       nothing
herein shall be construed as an obligation of the parties to this Agreement to advise the Certificateholders with respect to their
rights and protections relative to the Trust.

 

(b)       Following
the Closing Date, neither the Trustee nor the Certificate Administrator shall accept any contribution of assets to the Trust Fund
not specifically contemplated by this Agreement.

 

(c)       All
rights or actions under this Agreement or under any of the Certificates, enforceable by the Trustee or the Certificate Administrator
may be enforced by such party without the possession of any of the Certificates, or the production thereof at the trial or other
proceeding relating thereto, and any such suit, action or proceeding instituted by the Trustee or the Certificate Administrator,
as applicable, shall be brought in its name for the benefit of all the Holders of such Certificates, subject to the provisions
of this Agreement.

 

(d)       In
order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions,
including those relating to the funding of terrorist activities and money laundering (“Applicable Laws”), the
Trustee and the Certificate Administrator are required to obtain, verify and record certain information relating to individuals
and entities which maintain a business relationship with the Trustee or the Certificate Administrator, as applicable. Accordingly,
each of the parties agrees to provide to the Trustee

 

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and the Certificate Administrator, upon its request from time to time such
identifying information and documentation as may be available for such party in order to enable the Trustee and the Certificate
Administrator to comply with Applicable Laws.

 

(e)       Each
of the Trustee and the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities
afforded to it as the Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder
(including, without limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider and Authenticating Agent).

 

Section 8.3.     Neither
the Trustee nor the Certificate Administrator is Liable for Certificates or the Trust Loan. The recitals contained herein
and in the Certificates (other than the signature and authentication of the Certificate Administrator on the Certificates)
shall not be taken as the statements of the Certificate Administrator or the Trustee and the Trustee and the Certificate
Administrator assume no responsibility for their correctness. The Certificate Administrator and the Trustee make no
representations as to the validity or sufficiency of this Agreement, the Certificates or of the Trust Loan or related
documents except as expressly set forth herein. The Certificate Administrator and the Trustee shall not be liable for any
action or failure to take any action by the Depositor, the Servicer or the Special Servicer hereunder or any action or
failure to take any action by the Loan Sellers under the Loan Purchase Agreement, including, without limitation, in
connection with (i) any failure of the Loan Sellers to properly prepare each Assignment of the Mortgage, assignment of
the Collateral Security Document and UCC-3 financing statements pursuant to the Loan Purchase Agreement or (ii) the any
failure of the Special Servicer or any sub-servicer, agent of or counsel to the Special Servicer to conduct a Foreclosure in
accordance with the terms of this Agreement and applicable law, and neither the Trustee nor the Certificate Administrator
shall be required to take any action in connection with any of the foregoing matters referred to in clauses (i) and (ii)
above (except to the extent otherwise expressly required pursuant to this Agreement). The Certificate Administrator and the
Trustee shall not at any time have any responsibility or liability for or with respect to the legality, ownership, title,
validity or enforceability of the Mortgage or Collateral Security Documents or the Whole Loan, or the perfection, sufficiency
and priority of the Mortgage or Collateral Security Documents or the maintenance of any such perfection and priority, or for
or with respect to the efficacy of the Trust Fund or its ability to generate the payments to be distributed to
Certificateholders under this Agreement, including, without limitation, the existence, condition and ownership of the
Property; the existence and enforceability of any hazard insurance thereon; the validity of the assignment of the Trust Loan
to the Trust; the performance or enforcement of the Trust Loan (other than with respect to the Servicer or Special Servicer,
if the Trustee shall assume the duties of the Servicer and/or Special Servicer, respectively, pursuant to Section 7.2 and
then only to the extent of the obligations of the Servicer or Special Servicer, as applicable, hereunder); the compliance by
the Depositor, the Loan Borrower, the Servicer or the Special Servicer with any warranty or representation made under this
Agreement or in any related document or the accuracy of any such warranty or representation made under this Agreement or in
any related document prior to the Trustee’s or the Certificate Administrator’s, as applicable, receipt of notice
or actual knowledge by a Responsible Officer of any noncompliance therewith or any breach thereof; any investment of monies
by or at the direction of the Servicer or the Special Servicer or any loss resulting therefrom; the failure of the Servicer
or the Special Servicer or any sub-servicer to act or perform any duties required of it hereunder; or any action

 

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by the
Certificate Administrator or the Trustee taken at the direction of the Servicer or the Special Servicer (other than with
respect to the Trustee if the Trustee shall assume the duties of the Servicer or the Special Servicer, respectively); provided, however,
that the foregoing shall not relieve the Certificate Administrator or the Trustee of its obligation to perform its duties
under this Agreement. Except with respect to a claim based on either the Certificate Administrator’s or the
Trustee’s negligent action, negligent failure to act or willful misconduct (or such other standard of care as may be
provided herein with respect to any particular matter), no recourse shall be had for any claim based on any provisions of
this Agreement, the Certificates, the Mortgage, the Property, the Collateral Security Documents or the Trust Loan or
assignment thereof against the Certificate Administrator or the Trustee in its respective individual capacity, and neither
the Certificate Administrator nor the Trustee shall have any personal obligation, liability or duty whatsoever to any
Certificateholder or any other Person with respect to any such claim, and any such claim shall be asserted solely against the
Trust Fund or any indemnitor who shall furnish indemnity as provided in this Agreement. Neither the Certificate Administrator
nor the Trustee shall have any responsibility for filing any financing or continuation statements in any public office at any
time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to record
this Agreement (unless, with respect to the Trustee, the Trustee shall have become the successor Servicer or Special
Servicer). Neither the Certificate Administrator nor the Trustee shall be accountable for the use or application by the
Depositor of any of the Certificates or of the proceeds of such Certificates or for the use or application of any funds
paid to the Servicer or the Special Servicer, as applicable, in respect of the Trust Loan deposited into the Collection
Account (except to the extent that the Collection Account or such other account is held by the Certificate Administrator or
the Trustee in its commercial capacity), or for investment of such amounts (other than investments made with the Certificate
Administrator or the Trustee in their commercial capacity).

 

The
Trustee and the Certificate Administrator, by reason of the action or inaction of its directors, officers, members, managers,
partners, employees or agents shall have no liability to the Trust, the Certificateholders or the Companion Loan Holders for any
action taken or for refraining from the taking of any action in good faith pursuant to this Agreement or for actions taken or
not taken at the direction of Certificateholders or the Companion Loan Holders in accordance with this Agreement or the Co-Lender
Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Trustee, the
Certificate Administrator or any such Person against any liability which would otherwise be imposed by reason of willful misconduct,
bad faith or negligence of the Trustee, the Certificate Administrator or any such Person. The Trustee, the Certificate Administrator
and any of its respective directors, officers, members, managers, partners, employees, Affiliates, agents or Controlling Persons
shall be indemnified by the Trust Fund pursuant to Section 3.4(c) out of amounts on deposit in the Collection Account,
and held harmless against any loss, liability, claim, demand or expense incurred in connection with or related to the Trustee’s
or the Certificate Administrator’s performance of its powers and duties under this Agreement (including, without limitation,
performance under Section 8.1 hereof), the Trust Loan, the Property or the Certificates; provided, however,
that this provision shall not protect the Trustee, the Certificate Administrator or any such Person against any breach of its
representations or warranties made in this Agreement or any liability which would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence of the Trustee, the Certificate Administrator or any such Person. The

 

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indemnification provided hereunder
shall survive the resignation or removal of the Trustee or the Certificate Administrator and the termination of this Agreement.
Anything herein to the contrary notwithstanding, the Trustee shall be responsible for its acts or failure to act as Servicer and/or
Special Servicer during the time the Trustee is serving as such pursuant and subject to the terms of this Agreement.

 

Section 8.4.     Trustee
and Certificate Administrator May Own Certificates. The Trustee and the Certificate Administrator in their individual or
any other capacity may become the owner or pledgee of Certificates with the same rights, powers, and privileges as it would
have if they were not the Trustee or the Certificate Administrator.

 

Section 8.5.     Trustee’s
and Certificate Administrator’s Fees and Expenses. The Trustee and the Certificate Administrator shall be entitled
to the Trustee Fee and the Certificate Administrator Fee (excluding the portion of the Certificate Administrator Fee that
represents the Trustee Fee, which is payable to the Trustee), respectively, payable pursuant to Section 3.4(c).
The Certificate Administrator Fee (which shall not be limited to any provision of law in regard to the compensation of a
trustee of an express trust) shall constitute the Certificate Administrator’s and the Trustee’s sole form of
compensation for all services rendered by each entity in the execution of the trust hereby created and in the exercise and
performance of any of the powers and duties of the Certificate Administrator and the Trustee hereunder. No Trustee Fee or
Certificate Administrator Fee shall be payable with respect to any Companion Loan. The Trustee and the Certificate
Administrator shall be entitled to be reimbursed for all reasonable expenses and disbursements incurred or made by the
Trustee or the Certificate Administrator, as applicable, in accordance with any of the provisions of this Agreement
(including the fees and expenses of its counsel and of all Persons not regularly in its employ), provided such cost
would qualify as an “unanticipated expense incurred by the REMIC” within the meaning of the REMIC Provisions,
except any such expense, disbursement or advance as may arise from its negligence, willful misconduct or bad faith or which
is expressly the responsibility of a Certificateholder or Certificateholders hereunder, all of which reimbursements to be
paid from amounts deposited into the Collection Account pursuant to Section 3.4(c); provided, however,
that neither the Trustee nor the Certificate Administrator shall refuse to perform any of their obligations hereunder solely
as a result of the failure to be paid any fees and expenses so long as payment of such fees and expenses are reasonably
assured to it. The Trustee and the Certificate Administrator shall provide the Servicer with an invoice, on or prior to each
Payment Date, setting forth the actual expenses incurred in connection with the performance of its duties hereunder for which
it seeks payment or reimbursement. Notwithstanding any other provision of this Agreement, neither the Trustee nor
the Certificate Administrator shall be entitled to reimbursement from the Trust for an expense incurred under this Agreement
in connection with the performance of its ordinary and regularly recurring duties hereunder unless such reimbursement is
expressly provided for herein or otherwise permitted hereunder.

 

Section 8.6.     Eligibility
Requirements for the Trustee and the Certificate Administrator; Errors and Omissions Insurance. (a)  Each of
the Trustee and the Certificate Administrator hereunder shall at all times:

 

(i)       be
a corporation, association or trust company organized and doing business under the laws of any state or the United States of America,
authorized under

 

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such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement;

 

(ii)       have
a combined capital and surplus of at least $50,000,000;

 

(iii)       have
a rating on its unsecured long-term debt of at least “A” by S&P or otherwise acceptable to S&P and Morningstar
as confirmed by receipt of a Rating Agency Confirmation; provided that the Trustee may maintain a long-term unsecured debt
rating of at least “A-” by S&P for so long as the Servicer maintains a rating of “A” by S&P;

 

(iv)       be
subject to supervision or examination by federal or state authority; and

 

(v)       in
the case of the Trustee, shall not be an Affiliate of the Servicer or the Special Servicer (except during any period when the
Trustee has assumed the duties of the Servicer and/or Special Servicer pursuant to Section 7.2).

 

If
a corporation, association or trust company publishes reports of condition at least annually, pursuant to law or to the requirements
of the aforesaid supervising or examining authority, then for purposes of this Section the combined capital and surplus of
such entity shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.
In the event that the place of business from which the Trustee or the Certificate Administrator, as applicable, administers the
Trust Fund is a state or local jurisdiction that imposes a tax on the Trust, the Trustee or the Certificate Administrator, as
applicable, shall elect either to (i) resign immediately in the manner and with the effect specified in Section 8.7,
(ii) pay such tax from its own funds and continue as Trustee or the Certificate Administrator, as applicable, or (iii) administer
the Trust Fund from a state and local jurisdiction that does not impose such a tax. In case at any time the Trustee or the Certificate
Administrator, as applicable, shall cease to be eligible in accordance with the provisions of this Section, the Trustee or the
Certificate Administrator, as applicable, shall resign immediately in the manner and with the effect specified in Section 8.7.

 

(b)       The
Trustee and the Certificate Administrator shall each obtain and maintain at its own expense, and keep in full force and effect
throughout the term of this Agreement, a blanket fidelity bond and an errors and omissions insurance policy covering the Trustee’s
or the Certificate Administrator’s, as applicable, directors, officers and employees acting on behalf of the Trustee or
the Certificate Administrator, as applicable, in connection with its activities under this Agreement. Such insurance policy shall
protect the Trustee and the Certificate Administrator, as applicable, against losses, forgery, theft, embezzlement, fraud, errors
and omissions of such covered persons. The amount of coverage shall be at least equal to the coverage that is required by applicable
governmental authorities having regulatory power over the Trustee or the Certificate Administrator, as applicable. In the event
that any such bond or policy ceases to be in effect, the Trustee or the Certificate Administrator, as applicable, shall obtain
a comparable replacement bond or policy.

 

Section 8.7.     Resignation
and Removal of the Trustee or the Certificate Administrator. Each of the Trustee and the Certificate Administrator may at
any time resign and

 

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be discharged from the trusts hereby created by (i) giving written notice of resignation to the
Depositor, the Loan Borrower, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar
(if other than the Certificate Administrator), the Companion Loan Holders, and subject to Section 10.16 and Section 10.17,
the Rating Agencies and by mailing notice of resignation by first class mail, postage prepaid, to the Certificateholders at
their addresses appearing on the Certificate Register, not less than 45 days or more than 60 days before the date
specified in such notice when, subject to Section 8.8, such resignation is to take effect, and
(ii) acceptance by a successor Trustee or successor Certificate Administrator appointed by the Depositor in accordance
with Section 8.8 meeting the qualifications set forth in Section 8.6. Upon such notice of
resignation, the Depositor shall promptly appoint a successor Trustee or Certificate Administrator, as applicable. If no
successor Trustee or Certificate Administrator shall have been so appointed and shall have accepted appointment within
120 days after the giving of such notice of resignation, the resigning Trustee or Certificate Administrator, as
applicable, may at the expense of the Trust petition any court of competent jurisdiction for the appointment of a successor
Trustee or Certificate Administrator, as applicable. Except as provided in the immediately preceding sentence, the outgoing
Trustee or the Certificate Administrator, as applicable, shall bear all reasonable out-of-pocket costs and expenses of each
other party hereto and each Rating Agency in connection with its resignation (including, but not limited to, the costs of
assigning the Loan by reason of change in Trustee).

 

If
at any time any of the following occur: (x) the Trustee or Certificate Administrator shall cease to be eligible in accordance
with the provisions of Section 8.6 and shall fail to resign after written request for the Trustee’s or the Certificate
Administrator’s resignation by the Depositor, the Servicer or the Special Servicer, as applicable; (y) the Trustee
or the Certificate Administrator shall materially default in the performance of its obligations under this Agreement; or (z) if
at any time the Trustee or the Certificate Administrator shall become incapable of action, or shall be adjudged a bankrupt or
insolvent, or a receiver of the Trustee or the Certificate Administrator or of either of their property shall be appointed, or
any public officer shall take charge or control of the Trustee or Certificate Administrator or of its property or affairs for
the purpose of rehabilitation, conservation or liquidation then, in any such case, (1) the Depositor may remove the Trustee
or the Certificate Administrator, as applicable, and appoint a successor Trustee or Certificate Administrator, as applicable,
by written instrument, in duplicate, executed by an authorized officer of the Depositor, one copy of which instrument shall be
delivered to the Trustee or the Certificate Administrator, as applicable, so removed and one copy to the successor Trustee or
Certificate Administrator, as applicable, or (2) any Certificateholder who has been a bona fide Certificateholder for at
least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for
the removal of the Trustee or the Certificate Administrator and the appointment of a successor Trustee or Certificate Administrator,
as applicable. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee or
Certificate Administrator, as applicable, which removal and appointment shall become effective upon acceptance of appointment
by the successor Trustee or Certificate Administrator, as applicable, as provided in Section 8.8. The successor Trustee
or Certificate Administrator, as applicable, so appointed by such court shall immediately and without further act be superseded
by any successor Trustee or Certificate Administrator, as applicable, appointed by the Certificateholders as provided below within
one year from the date of appointment by such court. Holders of Certificates evidencing, in the aggregate, not less than a majority
of the Voting Rights of the outstanding Certificates,

 

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may at any time remove the Trustee or the Certificate Administrator upon
30 days’ written notice and appoint a successor Trustee or Certificate Administrator, as applicable, by written instrument
or instruments, in triplicate, signed by such Holders or their attorney-in-fact duly authorized, one complete set of which instrument
or instruments shall be delivered to the Depositor (with a copy to the Servicer and Special Servicer and the Loan Borrower), one
complete set to the Trustee or the Certificate Administrator, as applicable, so removed and one complete set to the successor(s)
so appointed; provided that such Certificateholders shall pay all the reasonable costs and expenses of the Certificate
Administrator or Trustee, as applicable, necessary to effect the transfer of the rights and obligations of the Certificate Administrator
or Trustee, as applicable, to a successor. Subject to Section 10.17, notice of any removal of the Trustee or the Certificate
Administrator and acceptance of appointment by the successor Trustee or the Certificate Administrator shall be given to the Companion
Loan Holders and the Rating Agencies by the successor Trustee or the Certificate Administrator, as applicable. No removal of the
Trustee or the Certificate Administrator shall be effective until all reasonable fees, costs, expenses and Advances (including
interest thereon) have been paid to the Trustee or Certificate Administrator, as applicable, in full.

 

Any
resignation or removal of the Trustee or Certificate Administrator shall not become effective until acceptance of the appointment
by the successor Trustee or Certificate Administrator, as applicable, as provided in Section 8.8.

 

Section 8.8.     Successor
Trustee or Successor Certificate Administrator. Any successor Trustee or Certificate Administrator appointed as provided
in Section 8.7 shall execute, acknowledge and deliver to the Depositor, the Servicer, the Special Servicer and to
its predecessor trustee or certificate administrator an instrument (i) accepting such appointment hereunder and
(ii) making the representations and warranties of the Trustee or the Certificate Administrator, as applicable, as
provided in Section 2.3 and Section 2.7, respectively, and thereupon the resignation or removal of
the predecessor trustee or certificate administrator shall become effective and such successor Trustee or Certificate
Administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights,
powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or
certificate administrator herein. The predecessor Certificate Administrator shall deliver or cause to be delivered to the
successor Certificate Administrator, as applicable, the Mortgage File and related documents and statements held by it
hereunder, and the Depositor, the Servicer, the Special Servicer and the predecessor trustee or certificate administrator
shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and
certainly vesting and confirming in the successor Trustee or Certificate Administrator all such rights, powers, duties and
obligations.

 

No
successor Trustee or Certificate Administrator shall accept appointment as provided in this Section unless at the time of
such acceptance such successor Trustee or Certificate Administrator shall be eligible under the provisions of Section 8.6 and its appointment shall not result in the qualification, downgrading, or withdrawal of the current rating of any Class of
the Certificates (prior to the resignation or termination of the Trustee or Certificate Administrator).

 

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Upon
acceptance of appointment by a successor Trustee or Certificate Administrator as provided in this Section, the successor Trustee
or Certificate Administrator shall mail notice of the succession of such trustee or certificate administrator hereunder to all
Holders of Certificates at their addresses as shown in the Certificate Register, the Depositor, the Loan Borrower, the Companion
Loan Holders and the Rating Agencies.

 

Section 8.9.     Merger
or Consolidation of the Trustee or the Certificate Administrator. Any Person into which the Trustee or the Certificate
Administrator may be merged or converted or with which either may be consolidated or any Person resulting from any merger,
conversion or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person succeeding
to all or substantially all of the corporate trust business of the Trustee or the Certificate Administrator shall be the
successor of the Trustee or the Certificate Administrator, as applicable, hereunder; provided that such Person shall
be eligible under the provisions of Section 8.6, without the execution or filing of any paper or further act on
the part of any of the parties hereto, anything herein to the contrary notwithstanding.

 

Section 8.10.     Appointment
of Co-Trustee or Separate Trustee. (a)  At any time or times, for the purpose of meeting any legal requirements
of any jurisdiction in which any part of the Property may at the time be located or in which any action of the Trustee may be
required to be performed or taken, the Trustee, the Depositor or the Holders of Certificates evidencing, in the aggregate, a
majority of the Voting Rights of the outstanding Certificates, by an instrument in writing signed by it or them, may appoint
one or more individuals or corporations to act as separate trustee or separate trustees or co-trustees, acting jointly with
the Trustee, of all or any part of such Property, to the full extent that local law makes it necessary for such separate
trustee or separate trustees or co-trustee acting jointly with the Trustee to act. The fees and expenses of any separate
trustee or co-trustee shall be paid by the Trust Fund pursuant to Section 3.4(c).

 

(b)       The
Trustee shall execute, acknowledge and deliver all such instruments as may be required by the legal requirements of any jurisdiction
or by any such separate trustee or separate trustees or co-trustee for the purpose of more fully conferring such title, rights
or duties to such separate trustee or separate trustees or co-trustee, it, he, she or they shall be vested with such title to
the Property or any part thereof, and with such rights, powers, duties and obligations as shall be specified in the instrument
of appointment, and such rights, powers, duties and obligations shall be conferred or imposed upon and exercised or performed
by the Trustee, or the Trustee and such separate trustee or separate trustees or co-trustees jointly with the Trustee subject
to all the terms of this Agreement, except to the extent that under any law of any jurisdiction in which any particular act or
acts are to be performed shall be exercised and performed by such separate trustee or separate trustees or co-trustee, as the
case may be. Any separate trustee or separate trustees or co-trustee may, at any time by an instrument in writing, constitute
the Trustee, its attorney-in-fact and agent with full power and authority to do all acts and things and to exercise all discretion
on its behalf and in its, her or his name. In the event that any such separate trustee or co-trustee shall die, become incapable
of acting, resign or be removed, the title to the Property and all assets, property, rights, powers, duties and obligations of
such separate trustee or co-trustee shall, so far as permitted by law, vest in and be exercised by the Trustee, without the appointment
of a successor to such separate trustee or co-trustee unless and until a successor is appointed.

 

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(c)       All
provisions of this Agreement which are for the benefit of the Trustee and Certificate Administrator shall extend to and apply
to each separate trustee or co-trustee appointed pursuant to the foregoing provisions of this Section 8.10, and to
the Trustee and Certificate Administrator in each capacity that it may assume hereunder, including without limitation, its capacity
as Custodian, 17g-5 Information Provider, Certificate Registrar and Authenticating Agent, as applicable.

 

(d)       Every
co-trustee and separate trustee hereunder shall, to the extent permitted by law, be appointed and act and the Trustee shall act,
subject to the following provisions and conditions: (i) all powers, duties, obligations and rights conferred upon the Trustee
in respect of the receipt, custody, investment and payment of monies shall be exercised solely by the Trustee; (ii) all other
rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed and exercised or performed
by the Trustee and such co-trustee or trustees and separate trustee or trustees jointly except to the extent that under any law
of any jurisdiction in which any particular act or acts are to be performed, the Trustee shall be incompetent or unqualified to
perform such act or acts, in which event such rights, powers, duties and obligations shall be exercised and performed by such
co-trustee or trustees; (iii) no power hereby given to, or exercisable by, any such co-trustee or separate trustee shall
be exercised hereunder by such co-trustee or separate trustees except jointly with, or with the consent of, the Trustee and (iv)
no trustee hereunder shall be personally liable by reason of any act or omission of any other trustees hereunder.

 

If,
at any time, the Trustee shall deem it no longer necessary or prudent in order to conform to any such law, the Trustee shall execute
and deliver all instruments and agreements necessary or proper to remove any co-trustee or separate trustee. Notwithstanding the
foregoing, the appointment of a co-trustee or separate trustee by the Trustee shall not relieve the Trustee of its obligations,
duties, or responsibilities in any way or to any degree.

 

(e)       Any
request, approval or consent in writing by the Trustee to any co-trustee or separate trustee shall be sufficient warrant to such
co-trustee or separate trustee, as the case may be, to take such action as may be so required, approved or consented to.

 

(f)       Notwithstanding
any other provision of this Section 8.10, the powers of any co-trustee or separate trustee shall not exceed those
of the Trustee hereunder, and such co-trustee or separate trustee must meet the eligibility requirements set forth in Section 8.6.

 

Section 8.11. Appointment
of Authenticating Agent. (a) The Certificate Administrator may appoint an agent or agents which shall be authorized to
act on behalf of the Certificate Administrator to authenticate Certificates (each such agent, an “Authenticating Agent”),
and Certificates so authenticated shall be entitled to the benefits of this Agreement and shall be valid and obligatory for all
purposes as if authenticated by the Certificate Administrator hereunder. Wherever a reference is made in this Agreement to the
authentication and delivery of Certificates by the Certificate Administrator or the Certificate Administrator’s certificate
of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Certificate Administrator
by an Authenticating Agent and a certificate of authentication executed on behalf of the Certificate Administrator by an Authenticating
Agent. Each Authenticating Agent shall, at all times, be a corporation or association organized and doing

 

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business
under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such law to act
as Authenticating Agent, having a combined capital and surplus of not less than $15,000,000, authorized under such laws to do
trust business and subject to supervision or examination by federal or state authorities. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section the combined capital and surplus of such Authenticating Agent shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so published. If, at any time, an Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section. The initial Authenticating Agent shall be the Certificate Administrator.

 

(b)       Any
Person into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Person resulting
from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Person succeeding to
the corporate agency business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such Person
shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of
the Certificate Administrator or the Authenticating Agent.

 

(c)       An
Authenticating Agent may resign at any time by giving at least 30 days’ advance written notice thereof to the Certificate
Administrator, the Servicer or Special Servicer, as applicable, and the Depositor. The Certificate Administrator may at any time
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent, the Servicer or
Special Servicer, as applicable, and the Depositor. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the
Certificate Administrator may appoint a successor Authenticating Agent and shall mail written notice of such appointment by first
class mail, postage prepaid to all Certificateholders as their names and addresses appear in the Certificate Register. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of
its predecessor hereunder, with like effect as if originally named as an Authenticating Agent herein. No successor Authenticating
Agent shall be appointed unless eligible under the provisions of this Section.

 

Section 8.12. Indemnification
by Trustee and the Certificate Administrator. The Trustee and the Certificate Administrator, as applicable, shall indemnify
and hold harmless the Trust, the Servicer, the Special Servicer, the Depositor and each other from and against any claims, losses,
damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses incurred
by the Trust, the Servicer, the Special Servicer or the Depositor, as applicable, that arise out of or are based upon (i) a
breach by the Trustee or the Certificate Administrator, as applicable, of its representations and warranties under this Agreement
or (ii) negligence, bad faith or willful misconduct on the part of the Trustee or the Certificate Administrator, as applicable,
in the performance of its obligations under this Agreement or its reckless disregard of its obligations and duties under this
Agreement.

 

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Section 8.13. Certificate
Administrator and Servicer Not Responsible for Inconsistent Payment Information. In connection with any Distribution Date
and a voluntary prepayment or the payment at maturity by the Loan Borrower of the Whole Loan or any portion thereof, the Certificate
Administrator shall report the amount of such prepayment or payment to the Depository based on information received from the Servicer
or Special Servicer in reliance on notices received from the Loan Borrower. In the event of any inconsistencies in payments or
prepayments made by the Loan Borrower with the previously delivered notices by the Loan Borrower, all costs and expenses incurred
as a result of a failure by the Loan Borrower to make any such payments or prepayment, shall be paid by the Loan Borrower in accordance
with the Loan Agreement provided that the amount of payment reported to the Depository by the Certificate Administrator
was consistent with the information received from the Servicer or Special Servicer. If the Loan Borrower fails to do so, such
costs and expenses shall be reimbursed to the Certificate Administrator and to the Servicer or Special Servicer, as applicable,
by the Trust pursuant to Section 3.4(c) from funds on deposit in the Collection Account. Neither the Certificate Administrator,
the Servicer nor the Special Servicer shall be liable for any inability or delay of the Depository to make a distribution as a
result of such inconsistencies. Notwithstanding the foregoing, the Certificate Administrator shall notify the Depository on the
Remittance Date or as soon as reasonably possible of any such inconsistencies.

 

Section 8.14. Access
to Certain Information. (a)  The Certificate Administrator shall afford to any Privileged Person (including the
Controlling Class Representative) and to the Office of the Comptroller of the Currency, the FDIC and any other banking or insurance
regulatory authority that may exercise authority over any Certificateholder, access to any documentation regarding the Trust Loan
or the other assets of the Trust Fund that are in its possession or within its control (or, upon request, make copies thereof
available to any Privileged Person at the reasonable cost and expense of such Privileged Person). Such access shall be afforded
without charge but only upon reasonable prior written request and during normal business hours at the offices of the Certificate
Administrator.

 

(b)       The Certificate Administrator shall make available to Privileged Persons, via the Certificate Administrator’s Website, the following items (to the extent such items were prepared by or delivered to the Certificate Administrator in a readable, uploadable, un-corrupted and un-locked electronic format):

 

(i)        The
following “deal documents”:

 

(A)       the
Offering Circular and any other disclosure document relating to the Certificates, in the form most recently provided to the Certificate
Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)       this
Agreement, each sub-servicing agreement delivered to the Certificate Administrator since the Closing Date (if any), the Loan Purchase
Agreement and any amendments and exhibits hereto or thereto; and

 

(C)       the
CREFC® Loan Setup File delivered to the Certificate Administrator by the Servicer.

 

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(ii)       The
following “periodic reports”:

 

(A)       all
Distribution Date Statements prepared by the Certificate Administrator pursuant to Section 4.4(b); and

 

(B)       all
CREFC® Reports prepared by, or delivered to, the Certificate Administrator pursuant to Section 3.18(a)
other than the CREFC® Loan Setup File;

 

(iii)       The
following “additional documents”:

 

(A)       summaries
of Asset Status Reports delivered to the Certificate Administrator pursuant to Section 3.10;

 

(B)       all
inspection reports delivered to the Certificate Administrator pursuant to Section 3.22; and

 

(C)       all
Appraisals delivered to the Certificate Administrator pursuant to Section 3.7(a);

 

(iv)       The
following “special notices”:

 

(A)       any
notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 4.1(d);

 

(B)       any
notice of termination of the Servicer or the Special Servicer delivered to the Certificate Administrator pursuant to Section 7.1(c);

 

(C)       any
notice of a Servicer Termination Event or Special Servicer Termination Event delivered to the Certificate Administrator pursuant
to Section 7.1(b);

 

(D)       any
request by the Certificateholders representing at least 25% of the Voting Rights to terminate the Special Servicer pursuant to
Section 7.1(d);

 

(E)       any
notice of resignation of the Trustee or Certificate Administrator and any notice of the acceptance of appointment by the successor
Trustee or successor Certificate Administrator pursuant to Section 8.7;

 

(F)       any
and all Officer’s Certificates and other evidence delivered to the Certificate Administrator to support the Servicer’s
or the Trustee’s, as the case may be, determination that any Advance was (or, if made, would be) a Nonrecoverable Advance,
pursuant to Section 3.23(f);

 

(G)       any
Special Notice delivered to the Certificate Administrator pursuant to Section 5.6;

 

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(H)       any
Assessment of Compliance delivered to the Certificate Administrator;

 

(I)       any
Attestation Reports delivered to the Certificate Administrator;

 

(J)       any
amendment to this Agreement;

 

(K)       the
“Investor Q&A Forum” pursuant to Section 4.5(a); and

 

(L)       solely
to Certificateholders and Beneficial Owner of Certificates, the “Investor Registry” pursuant to Section 4.5(b).

 

In
lieu of the tabs or headings otherwise described above, the Certificate Administrator shall be authorized to use such other headings
and labels as it may reasonably determine from time to time.

 

In
connection with providing, or causing to be provided, access to or copies of the items described in the preceding paragraph pursuant
to this Section 8.14(b), the Certificate Administrator shall require: (a) in the case of Certificateholders,
an Investor Certification executed by the requesting Person indicating that such Person is a Holder of Certificates and will keep
such information confidential (except that such Certificateholder may provide such information to its auditors, legal counsel
and regulators and to any other Person that holds or is contemplating the purchase of any Certificate or interest therein (provided
that such other Person confirms in writing such ownership interest or prospective ownership interest and agrees to keep such
information confidential)); and (b) in the case of a prospective purchaser of a Certificate or an interest therein or a licensed
or registered investment advisor acting on behalf of such purchaser, an Investor Certification indicating that such Person is
a prospective purchaser of a Certificate or an interest therein and is requesting the information for use in evaluating a possible
investment in Certificates and will otherwise keep such information confidential.

 

Except
as otherwise provided in this Agreement and subject to Section 6.3(a), the Certificate Administrator shall not be
liable for providing or disseminating information in accordance with the terms of this Agreement. The Certificate Administrator
shall not be responsible or have any liability for the completeness or accuracy of the information delivered, produced or otherwise
made available pursuant to this Section 8.14(b) unless such information was produced by the Certificate Administrator.
The obligations of the Certificate Administrator to provide access to those certain documents, information and other items described
in this Section 8.14 shall extend only to those such documents, information and other items actually in possession
of the Certificate Administrator. The Certificate Administrator may deny any of the foregoing Privileged Persons access to confidential
information with respect to which the Certificate Administrator is restricted from disclosing by applicable law.

 

(c)       The
Servicer and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt, also make available
through its website or otherwise, any CREFC® Reports and any additional information relating to the Whole Loan,
the Property or the Loan Borrower, for review by any Privileged Person, and subject to Section 10.16 and Section 10.17,
the Rating Agencies, in each case except to the extent doing so is prohibited by this Agreement, applicable law or by the Loan
Documents. Each of the Servicer

 

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and
Special Servicer shall be entitled to (i) indicate the source of such information and affix thereto any disclaimer it deems
appropriate in its discretion and/or (ii) require that the recipient of such information (A) except for the Depositor
and the Certificate Administrator, enter into an Investor Certification or other confidentiality agreement acceptable to the Servicer
or Special Servicer, as the case may be, and (B) acknowledge that the Servicer or the Special Servicer may contemporaneously
provide such information to any other Privileged Person. In addition, to the extent access to such information is provided via
the Servicer’s or the Special Servicer’s website, the Servicer and the Special Servicer may require registration and
the acceptance of a reasonable and customary disclaimer and/or an additional or alternative agreement as to the confidential nature
of such information. In connection with providing access to or copies of the items described in this Section 8.14(c)
to current and prospective Certificateholders the form of confidentiality agreement used by the Servicer or the Special Servicer,
as applicable, shall require: (a) in the case of a Certificateholder or a licensed or registered investment advisor acting
on behalf of such Certificateholder, an Investor Certification executed by the requesting Person indicating that such Person is
a Holder of Certificates and will keep such information confidential (except that such Certificateholder may provide such information
(x) to its auditors, legal counsel and regulators and (y) to any other Person that holds or is contemplating the purchase
of any Certificate or interest therein (provided that such other Person confirms in writing such ownership interest or
prospective ownership interest and agrees to keep such information confidential)); and (b) in the case of a prospective purchaser
of Certificates or interests therein or a licensed or registered investment advisor acting on behalf of such prospective purchaser,
an Investor Certification indicating that such Person is a prospective purchaser of a Certificate or an interest therein and is
requesting the information for use in evaluating a possible investment in Certificates and will otherwise keep such information
confidential.

 

Except
as otherwise provided in this Agreement and subject to Section 6.3(a), neither the Servicer nor the Special Servicer
shall be liable for the dissemination of information in accordance with this Agreement. Neither the Servicer nor the Special Servicer
shall be responsible or have any liability for the completeness or accuracy of the information delivered, produced or otherwise
made available pursuant to this Section 8.14(c) unless such information was produced by the Servicer or Special Servicer,
as applicable.

 

(d)       The
Certificate Administrator shall maintain at its offices (and, upon reasonable prior written request and during normal business
hours, shall make available, or cause to be made available) for review by any Privileged Person (other than prospective purchasers)
originals or copies of the following items (to the extent such items are in the Certificate Administrator’s possession):

 

(i)        the
Offering Circular;

 

(ii)       this
Agreement, each sub-servicing agreement delivered to the Certificate Administrator from and after the Closing Date (if any), the
Loan Purchase Agreement and any amendments and exhibits hereto or thereto;

 

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(iii)      all
Distribution Date Statements and all CREFC® Reports actually delivered or otherwise made available to Certificateholders
pursuant to Section 4.4(a) of this Agreement since the Closing Date;

 

(iv)      the
annual assessments as to compliance (in the case of the Servicer and the Special Servicer) and the Officer’s Certificates
delivered by the Servicer and the Special Servicer to the Certificate Administrator since the Closing Date pursuant to Section
11.7 of this Agreement;

 

(v)       the
annual independent public accountants’ servicing report caused to be delivered by the Servicer and the Special Servicer
to the Certificate Administrator since the Closing Date pursuant to Section 11.9 of this Agreement;

 

(vi)      the
most recent inspection report prepared by or on behalf of the Servicer or the Special Servicer, as applicable, and delivered to
the Certificate Administrator in pursuant to Section 3.22 of this Agreement;

 

(vii)     any
and all notices and reports delivered to the Certificate Administrator with respect to the Property as to which the environmental
testing contemplated by Section 3.12(d) of this Agreement revealed that neither of the conditions set forth in clauses (i)
and (ii) thereof was satisfied;

 

(viii)    the
Mortgage File, including any and all modifications, waivers and amendments of the terms of the Whole Loan entered into or consented
to by the Servicer or the Special Servicer and delivered to the Certificate Administrator pursuant to Section 3.24 of this
Agreement;

 

(ix)       the
summary of each Asset Status Report delivered to the Certificate Administrator pursuant to Section 3.10(h) of this Agreement;

 

(x)        the
annual, quarterly and monthly operating statements, if any, collected by or on behalf of the Servicer or the Special Servicer,
as applicable, and delivered to the Certificate Administrator for the Property, together with the other information specified
in Section 3.18 of this Agreement;

 

(xi)       any
and all Officer’s Certificates and other evidence delivered to the Certificate Administrator to support its or the Servicer’s,
as the case may be, determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(xii)      notice
of termination or resignation of the Servicer, the Special Servicer, the Certificate Administrator, the Trustee, (and appointments
of successors thereto);

 

(xiii)     all
Special Notices;

 

(xiv)     any
Appraisals, environmental site assessments, property condition assessments and seismic reports relating to the Property; and

 

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(xv)      any
other information that may be necessary to satisfy the requirements of subsection (d)(4)(i) of Rule 144A.

 

The
Certificate Administrator shall provide, or cause to be provided, copies of any and all of the foregoing items upon reasonable
written request of any of the parties set forth in the previous sentence at the reasonable expense of the requesting party.

 

The
Certificate Administrator shall not be liable for providing or disseminating information in accordance with the terms of this
Agreement.

 

Article
9

TERMINATION

 

Section 9.1. Termination.
(a)  The respective obligations and responsibilities of the Servicer, the Special Servicer, the Depositor, the Certificate
Administrator and the Trustee created hereby (other than the obligation to make certain payments to the Companion Loan Holders
and the obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution
Date, other than the obligation of the Certificate Administrator to file final tax returns for the Upper-Tier REMIC and the Lower-Tier
REMIC, to maintain books and records of the Trust Fund for such period of time as it maintains its own books and records and other
than the indemnification rights and obligations of the parties hereto) shall terminate upon the last action required to be taken
by the Certificate Administrator on the final Distribution Date pursuant to this Article 9 following the later of (i) the
final payment on the Certificates or (ii) the liquidation of the Trust Loan (including, without limitation, the sale of the
Trust Loan pursuant to this Agreement, as applicable) or the liquidation or abandonment of the Property and all other Collateral
for the Whole Loan; provided, however, that in no event shall the Trust continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to
the Court of St. James’s, living on the date hereof.

 

(b)       On
the final Distribution Date, all amounts on deposit in the Collection Account and not otherwise payable to a person other than
the Certificateholders, shall be applied generally as described in Section 4.1.

 

(c)       Notice
of any termination, specifying the final Distribution Date (which shall be a date that would otherwise be a Distribution Date)
upon which the Certificateholders of any Class may surrender their Certificates to the Certificate Administrator for payment of
the final distribution and cancellation, shall be given promptly by the Certificate Administrator by letter to Certificateholders
mailed as soon as practicable specifying (A) the final Distribution Date upon which final payment of the Certificates shall
be made upon presentation and surrender of Certificates at the office or agency of the Certificate Administrator therein designated,
(B) the amount of any such final payment and (C) that the Record Date otherwise applicable to such Distribution Date
is not applicable, payments being made only upon presentation and surrender of the Certificates at the office or agency of the
Certificate Administrator therein specified.

 

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Section 9.2. Additional
Termination Requirements. In connection with any termination pursuant to Section 9.1 other than final payment on the
Trust Loan, the Trust Fund shall be terminated in accordance with the following additional requirements, unless the Certificate
Administrator has obtained at the expense of the Trust, an Opinion of Counsel that any other manner of terminating either the
Lower-Tier REMIC or the Upper-Tier REMIC will not subject the Trust Fund, the Lower-Tier REMIC or the Upper-Tier REMIC to federal
income tax:

 

(i)        Within
eighty-nine (89) days prior to the final Distribution Date, the Certificate Administrator shall designate the first day of the
90-day liquidation period of the Lower-Tier REMIC and the Upper-Tier REMIC which shall be specified in a notice from the Certificate
Administrator to the Certificateholders as soon as practicable prior to such final Distribution Date, and shall specify such date
in the final tax return of each such REMIC;

 

(ii)       At
or after the time of adoption of such plan of complete liquidation and at or prior to the final scheduled Distribution Date, the
Servicer shall sell any remaining assets (other than cash) of the Trust Fund and credit the proceeds thereof to the Trust Fund;
and

 

(iii)      At
or after such time as the proceeds from the disposition of the remaining assets of the Trust Fund shall have been credited to
the Trust Fund, the Certificate Administrator shall cause all remaining amounts held (A) as part of the Lower-Tier REMIC
to be distributed to the Certificate Administrator as holder of the Uncertificated Lower-Tier Interests and to the Holders of
the Class R Certificates (in respect of the Class LT-R Interest) in accordance with Section 4.1(b) and (B) as
part of the Upper-Tier REMIC to be distributed to the Holders of the Regular Certificates and the Class R Certificates (in
respect of the Class UT-R Interest) in accordance with Section 4.1(a) and Section 4.1(g).

 

Section 9.3. Trusts
Irrevocable. Except as expressly provided herein, all trusts created hereby are irrevocable.

 

Article
10

MISCELLANEOUS PROVISIONS

 

Section 10.1. Amendment.
(a)  This Agreement may be amended from time to time by the parties hereto, without the consent of any of the Certificateholders
or any Companion Loan Holders:

 

(i)        to
correct any inconsistency, defect or ambiguity in this Agreement or to correct any manifest error in any provision of this Agreement;

 

(ii)       to
cause the provisions in this Agreement to conform or be consistent with or in furtherance of the statements made in the Offering
Circular with respect to the Certificates, the Trust or this Agreement to correct or supplement any of its provisions

 

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which
may be inconsistent with any other provisions in this Agreement, or to correct any error;

 

(iii)      to
change the timing and/or nature of deposits in the Collection Account, the Distribution Account or the Foreclosed Property Account,
provided that (A) the Remittance Date may in no event be later than the Business Day prior to the related Distribution
Date and (B) (1) the change would not adversely affect in any material respect the interests of any Certificateholder
or Companion Loan Holder, as evidenced by an Opinion of Counsel (at the expense of the party requesting the amendment or
at the expense of the Trust Fund if the requesting party is the Trustee or the Certificate Administrator) or (2) a Rating
Agency Confirmation is obtained (at the expense of the party requesting the amendment or at the expense of the Trust Fund
if the requesting party is the Trustee or the Certificate Administrator);

 

(iv)      to
modify, eliminate or add to any of its provisions (A) to the extent necessary to maintain the qualification of either the Lower-Tier
REMIC or the Upper-Tier REMIC as a REMIC at all times that any Certificate is outstanding, or to avoid or minimize the risk of
imposition of any tax on the Lower-Tier REMIC or the Upper-Tier REMIC that would be a claim against the Lower-Tier REMIC or the
Upper-Tier REMIC; provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the
expense of the party requesting the amendment or if the requesting party is the Certificate Administrator or the Trustee, at the
expense of the Trust) to the effect that (1) the action is necessary or desirable to maintain such qualification or to avoid or
minimize the risk of imposition of any such tax and (2) the action will not adversely affect in any material respect the interests
of any holder of the Certificates or (B) to the extent necessary to comply with the Investment Company Act of 1940, as amended,
the Trust Indenture Act of 1939, as amended, the Exchange Act, Regulation AB, and/or any related regulatory actions and/or interpretations;

 

(v)       to
modify, eliminate or add to any of its provisions to restrict (or to remove any existing restrictions with respect to) the transfer
of the Class R Certificates; provided that the Depositor has determined that the amendment will not give rise to any tax
with respect to the transfer of the Class R Certificates to a non-Permitted Transferee; provided, further, that
the Depositor may conclusively rely upon an Opinion of Counsel to such effect;

 

(vi)      to
make any other provisions with respect to matters or questions arising under this Agreement or any other change, provided
that the required action will not adversely affect in any material respect the interests of any Certificateholder or Companion
Loan Holder not consenting to such amendment, as evidenced by (a) an Opinion of Counsel (at the expense of the party requesting
the amendment or at the expense of the Trust Fund if the Trustee or the Certificate Administrator is the requesting party) and
(b) a Rating Agency Confirmation (at the expense of the party requesting the amendment or at the expense of the Trust
Fund if the requesting party is the Trustee or the Certificate Administrator;

 

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(vii)     to
amend or supplement any provision of this Agreement to the extent necessary to maintain the ratings assigned to each Class of
Certificates by any Rating Agency; provided that such amendment does not adversely affect in any material respect the interests
of any Certificateholder or Companion Loan Holder;

 

(viii)    to
modify the provisions of this Agreement with respect to reimbursement of Nonrecoverable Advances if (a) the Depositor, the
Servicer, the Certificate Administrator and the Trustee, determine that the commercial mortgage backed securities industry standard
for such provisions has changed, in order to conform to such industry standard, (b) such modification does not adversely
affect the status of the Upper-Tier REMIC or the Lower-Tier REMIC as a REMIC, as evidenced by an Opinion of Counsel (at the expense
of the party requesting the amendment or at the expense of the Trust Fund if the Trustee or the Certificate Administrator is the
requesting party) and (c) a Rating Agency Confirmation (at the expense of the party requesting the amendment or at the
expense of the Trust Fund if the requesting party is the Trustee or the Certificate Administrator) is obtained; and

 

(ix)       to
modify the procedures set forth in this Agreement relating to Exchange Act Rule 17g-5 or Rule 15Ga-1 compliance.

 

Notwithstanding
the foregoing, no such amendment to this Agreement contemplated by this Section 10.1(a) shall be permitted if the
amendment would (i) reduce the consent or consultation rights or the right to receive information under this Agreement of the
Controlling Class Representative without the consent of the Controlling Class Representative, (ii) change in any manner the obligations
or rights of the Loan Sellers under the Loan Purchase Agreement or this Agreement without the consent of the Loan Sellers, (iii)
change in any manner the obligations or rights of the Initial Purchasers without the consent of the Initial Purchasers or (iv)
adversely affect any Companion Loan Holder in its capacity as such without its consent.

 

(b)       This
Agreement may also be amended by the parties to this Agreement with the consent of the Holders of Certificates of each Class adversely
affected by such amendment evidencing, in each case, not less than 51% of the aggregate Percentage Interests constituting the
Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement
or of modifying in any manner the rights of the Holders of the Certificates, except that the amendment may not (1) reduce
in any manner the amount of, or delay the timing of, payments received on the Trust Loan that are required to be distributed on
any Certificate; (2) alter in any manner the liens on any Collateral securing payments of the Trust Loan; (3) alter
the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted Servicing Practices; (4) change the
percentages of Voting Rights or Percentage Interests of Certificateholders that are required to consent to any action or inaction
under this Agreement; (5) adversely affect the Controlling Class Representative without the consent of 100% of the Controlling
Class Certificateholders; or (6) amend this Section 10.1.

 

(c)       Notwithstanding
the foregoing, no amendment to this Agreement may be made that changes in any manner the obligations of the Loan Sellers under
the Loan Purchase Agreement without the consent of the Loan Sellers, and the Trustee, Servicer, Special Servicer or Certificate
Administrator may, but will not be obligated to, enter into any amendment to this

 

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Agreement
that it determines affects its rights, duties or immunities or creates any additional liability for the Trustee, Servicer, Special
Servicer or Certificate Administrator under this Agreement.

 

(d)       It
shall not be necessary for the consent of Certificateholders under this Section 10.1 to approve the particular form
of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Certificate Administrator may prescribe.

 

(e)       Notwithstanding
the foregoing, no amendment may be made to this Agreement unless the Certificate Administrator, the Trustee, the Servicer and
the Special Servicer have first received an Opinion of Counsel (at the expense of the party requesting the amendment, or at the
Trust Fund’s expense if the Trustee or the Certificate Administrator is the requesting party) to the effect that the amendment
is authorized or permitted under this Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Trustee or any other
specified person in accordance with the amendment, will not result in an Adverse REMIC Event.

 

(f)       Promptly
after the execution of any amendment to this Agreement or any amendment to the Loan Purchase Agreement, the Certificate Administrator
shall post a copy of such amendment on the Certificate Administrator’s Website and furnish written notification of the substance
of such amendment to each Certificateholder, the Depositor, the Servicer, the Special Servicer, the Initial Purchasers, the Companion
Loan Holders and, subject to Section 10.17, the Rating Agencies.

 

(g)       In
the event that neither the Depositor nor any successor thereto is in existence, any amendment under this Section 10.1
shall be effected with the consent of the Trustee, the Certificate Administrator and the Servicer or Special Servicer, as
applicable, and, to the extent required by this Section 10.1, the required Certificateholders.

 

(h)       Unless
otherwise specified in Section 10.1(a), the costs and expenses associated with any such amendment, including without
limitation, Opinions of Counsel and a Rating Agency Confirmations, shall be borne by the party requesting such amendment (or,
if such amendment is required by any of the Rating Agencies to maintain the rating issued by it or requested by the Trustee or
the Certificate Administrator for any purpose described in Section 10.1(a) (which do not modify or otherwise relate
solely to the obligations, duties or rights of the Trustee or the Certificate Administrator), then at the expense of the Depositor
and, if neither the Depositor nor any successor thereto is in existence, the Trust Fund).

 

Section 10.2. Recordation
of Agreement; Counterparts. (a)  This Agreement or an abstract hereof, if acceptable by the applicable recording
office, is subject to recordation in all appropriate public offices for real property records in the county in which the Property
subject to the Mortgage is situated, and in any other appropriate public recording office or elsewhere, such recordation to be
effected by the Trustee or the Certificate Administrator at the expense of the

 

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Trust
upon its receipt of an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests
of the Certificateholders of the Trust.

 

(b)       For
the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this
Agreement in Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed
original counterpart of this Agreement.

 

Section 10.3. Governing
Law; Submission to Jurisdiction; 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.
THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

EACH
OF THE PARTIES HERETO IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE
FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT; (II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN
ANY ACTION OR PROCEEDING IN ANY SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT
SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW;
AND (IV) CONSENTS TO SERVICE OF PROCESS UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR
NOTICES HEREUNDER AND AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY MANNER PERMITTED BY
LAW.

 

THE
PARTIES HERETO HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM,
WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

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Section 10.4. Notices.
All demands, notices and communications hereunder shall be in writing, shall be deemed to have been given upon receipt (except
that notices to Holders of any Class of Certificates held in registered, definitive form shall be deemed to have been given upon
being sent by first class mail, postage prepaid) as follows:

 

If
to the Trustee, to:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — VNDO 2016-350P

 

with
a copy to:

 

Fax
Number: (410) 715-2380

Email: cts.cmbs.bond.admin@wellsfargo.com and trustadministrationgroup@wellsfargo.com

 

If
to the Certificate Administrator, to:

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

VNDO 2016-350P

with a copy to:

Fax Number: (410) 715-2380

E Mail: cts.cmbs.bond.admin@wellsfargo.com, and to

trustadministrationgroup@wellsfargo.com

 

With
respect to any certificate transfer services:

Wells Fargo Center

600 South 4th Street, 7th Floor

MAC: N9300-070

Minneapolis, Minnesota 55479-0113

Attention:  Corporate Trust Services:  VNDO 2016-350P

 

With
respect to the Custodian:

 

Wells
Fargo Bank, national Association

1055
10th Ave SE

Minneapolis,
Minnesota 65414

Attn:
Document Custody Group VNDO 2016-350P

 

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If
to the Depositor, to:

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

Fax Number: (212) 428-1439

 

with
copies to:

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Peter Morreale

Fax Number: (212) 902-3000

 

and

GS Mortgage Securities Corporation II

6011 Connection Drive

Suite 550

Irving, Texas 75039

Attention: Joe Osborne

Fax Number: (212) 291-5318

 

If
to the Servicer, to:

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin, Building 82, Suite 300

Overland Park, Kansas 66210

Attention: Executive Vice President-Division Head

Fax Number: (888) 706-3565

 

with
a copy to:

Sutherland Asbill & Brennan LLP

700
Sixth Street, NW, Suite 700

Washington,
DC 20001-3980

Attention:
Lisa A. Rosen, Esq.

Fax
number: (202) 673-3593

E-mail:
Lisa.Rosen@sutherland.com

 

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with
any notice relating to the Rating Agency Q & A Forum & DOC Request Tool:

noticeadmin@midlandls.com (with a copy to askmidland@midlandls.com)

 

with
any notice relating to the Investor Q & A Forum:

noticeadmin@midlandls.com

 

with
a copy to:

 

askmidland@midlandls.com

 

with
a copy to:

Sutherland Asbill & Brennan LLP

700
Sixth Street, NW, Suite 700

Washington,
DC 20001-3980

Attention:
Lisa A. Rosen, Esq.

Fax
number: (202) 673-3593

E-mail:
Lisa.Rosen@sutherland.com

 

If
to the Special Servicer, to:

AEGON USA Realty Advisors, LLC,

4333 Edgewood Road NE,

Cedar Rapids, IA 52499

Attention: Vice President, Special Servicing

Fax number: (319) 355-8030

 

If
to GSMC, as a Loan Seller, to:

Goldman Sachs Mortgage Company

200 West Street

New York, New York 10282

Attention: Leah Nivison

Fax Number: (212) 428-1439

 

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with
copies to:

Goldman Sachs Mortgage Company

200 West Street

New York, New York 10282

Attention: Gary Silber

Fax Number: (212) 902-3000

 

If
to GACC, as a Loan Seller, to:

 

German
American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

If
to the initial Controlling Class Representative, to:

BlackRock Financial Management, Inc.

40 East 52nd Street

New York, New York 10022

Attention: Michelle Galvez

Facsimile No.: (212) 810-3681

E-mail: michelle.galvez@blackrock.com

 

If
to any Certificateholder, to:

the address set forth in the Certificate Register

 

If
to the Loan Borrower:

at the respective addresses therefor set forth in the Loan Agreement

 

or,
in the case of the parties to this Agreement, to such other address as such party shall specify by written notice to the other
parties hereto.

 

Section 10.5. Notices
to the Rating Agencies. The Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall not
provide any information regarding the Trust Fund to the Rating Agencies upon receipt of a request by the Rating Agencies
therefor but shall, upon receipt of a reasonable request for information pertaining to this transaction, to the extent such
party has or can obtain such information without unreasonable effort or expense, provide such information to the 17g-5
Information Provider in accordance with the procedures set forth in Section 10.16 and 10.17; provided,
that the 17g-5 Information Provider shall not disclose which Rating Agency has requested such information. Notwithstanding
the foregoing, the failure to deliver such information shall not constitute a Servicer Termination Event or Special Servicer
Termination Event, as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required
hereunder shall be in writing.

 

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Any
notices to the Rating Agencies shall be sent to the following addresses:

S&P Global Ratings

55 Water Street, 41st Floor

New York, New York 10041

Attention: Commercial Mortgage Surveillance Manager

Email: cmbs_info_17g5@standardandpoors.com

 

Morningstar
Credit Ratings, LLC

220 Gibraltar Road, Suite 300

Horsham, Pennsylvania 19044

Attention: CMBS Surveillance

Email: cmbsratings@morningstar.com

 

Section 10.6. Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then, to the extent permitted by applicable law, such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in
no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights
of the Holders thereof.

 

Section 10.7. Limitation
on Rights of Certificateholders. The death or incapacity of any Certificateholder shall not operate to terminate this
Agreement or the Trust Fund, nor entitle such Certificateholder’s legal representative or heirs to claim an accounting
or to take any action or to commence any proceeding in any court for a petition or winding up of the Trust Fund, or otherwise
affect the rights, obligations and liabilities of the parties hereto or any of them.

 

No
Certificateholder, solely by virtue of its status as a Certificateholder, shall have any right to vote (except as provided herein)
or in any manner otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor
shall anything herein set forth or contained in the terms of the Certificates be construed so as to constitute the Certificateholders
from time to time as partners or members of an association; nor shall any Certificateholders be under any liability to any third
party by reason of any action by the parties to this Agreement pursuant to any provision hereof.

 

No
Certificateholder, solely by virtue of its status as a Certificateholder, shall have any right by virtue or by availing itself
of any provisions of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect
to this Agreement, unless such Holder previously shall have given to the Trustee a written notice of a Servicer Termination Event
or Special Servicer Termination Event, as the case may be, and of the continuance thereof, as herein before provided, and unless
the Holders of Certificates aggregating not less than 25% of the Voting Rights of the Certificates shall also have made written
request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered
to the Trustee such reasonable indemnity as it may require against the costs, expenses, and liabilities to be incurred therein
or thereby, and the Trustee, for 60 days after its receipt of such notice, request and offer of indemnity, shall have

 

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neglected
or refused to institute any such action, suit or proceeding; it being understood and intended, and being expressly covenanted
by each Certificateholder with every other Certificateholder and the Trustee, that no one or more Holders of Certificates shall
have any right in any manner whatever by virtue or by availing itself or themselves of any provisions of this Agreement to affect,
disturb or prejudice the rights of the Holders of any other of the Certificates, or to obtain or seek to obtain priority over
or preference to any other such Holder except as provided herein with respect to entitlement to payments or to enforce any right
under this Agreement, except in the manner herein provided and for the common benefit of all Certificateholders. For the protection
and enforcement of the provisions of this Section, each and every Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.

 

Section 10.8. Certificates
Nonassessable and Fully Paid. The Certificateholders shall not be personally liable for obligations of the Trust Fund,
the interests in the Trust Fund represented by the Certificates shall be nonassessable for any reason whatsoever, and the
Certificates, upon due authentication thereof by the Certificate Administrator pursuant to this Agreement, are and shall be
deemed fully paid.

 

Section 10.9. Reproduction
of Documents. This Agreement and all documents relating thereto, including, without limitation, (i) consents,
waivers and modifications which may hereafter be executed, (ii) documents received by any party at the closing, and
(iii) financial statements, certificates and other information previously or hereafter furnished, may be reproduced by
any photographic, photostatic, microfilm, micro-card, miniature photographic or other similar process. The parties agree that
any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding,
whether or not the original is in existence and whether or not such reproduction was made by a party in the regular course of
business, and that any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in
evidence.

 

Section 10.10. No
Partnership. Nothing herein contained shall be deemed or construed to create a partnership or joint venture between the
parties hereto.

 

Section 10.11. Actions
of Certificateholders. (a)  Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Certificateholders in person or by agent duly appointed in writing;
and except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are
delivered to the Trustee or Certificate Administrator and, where required, to the Depositor, the Servicer or the Special
Servicer. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Agreement and conclusive in favor of the Certificate Administrator, the Trustee, the Depositor, the Servicer
and the Special Servicer if made in the manner provided in this Section.

 

(b)       The
fact and date of the execution of any Certificateholder of any such instrument or writing may be proved in any reasonable manner
which the Trustee or Certificate Administrator deems sufficient.

 

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(c)       Any
request, demand, authorization, direction, notice, consent, waiver, or other act by a Certificateholder shall bind every Holder
of every Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of
anything done, or omitted to be done, by the Trustee, the Certificate Administrator, the Depositor, the Servicer or the Special
Servicer in reliance thereon, whether or not notation of such action is made upon such Certificate.

 

(d)       The
Certificate Administrator and the Trustee may require additional proof of any matter referred to in this Section as it shall
deem reasonably necessary.

 

Section 10.12. Successors
and Assigns. The rights and obligations of any party hereto shall not be assigned (except pursuant to
Sections 6.2, 6.4, 8.7 or 8.9 hereof) by such party without the prior written consent of the
other parties hereto. This Agreement shall inure to the benefit of and be binding upon the Depositor, the Servicer, the
Special Servicer, the Certificate Administrator, the Custodian, the 17g-5 Information Provider and the Trustee and their
respective permitted successors and assigns. No Person other than a party to this Agreement, the Initial Purchasers and any
Certificateholder shall have any rights with respect to the enforcement of any of the rights or obligations hereunder.
Without limiting the foregoing, the parties to this Agreement specifically agree that (i) the Loan Seller shall be a
third-party beneficiary of this Agreement with respect to any provisions relating to the Loan Seller, (ii) unless it is
the Loan Borrower or an Affiliate thereof, each Companion Loan Holder shall be a third-party beneficiary of this Agreement
with respect to the rights afforded it under this Agreement, (iii) each Other Depositor and Other Exchange Act Reporting
Party shall be third-party beneficiary of this Agreement with respect to its rights under Article 11, and (iv) no Loan
Borrower, property manager or other party to the Whole Loan is an intended third-party beneficiary of this Agreement
(provided that the Loan Borrower shall be entitled to notices to the extent expressly provided herein).

 

Section 10.13. Acceptance
by Authenticating Agent, Certificate Registrar. The Certificate Administrator hereby accepts its appointment as
Authenticating Agent and Certificate Registrar and agrees to perform the obligations required to be performed by it in each
such capacity pursuant to the terms of this Agreement.

 

Section 10.14. Streit
Act. Any provisions required to be contained in this Agreement by Section 126 and/or Section 130-k or
Article 4-A of the New York Real Property Law are hereby incorporated herein, and such provisions shall be in addition
to those conferred or imposed by this Agreement; provided, however, that to the extent that such
Section 126 and/or 130-k shall not have any effect, and if said Section 126 and/or Section 130-k should at any
time be repealed or cease to apply to this Agreement or be construed by judicial decision to be inapplicable, said
Section 126 and/or Section 130-k shall cease to have any further effect upon the provisions of this Agreement. In a
case of a conflict between the provisions of this Agreement and any mandatory provisions of Article 4-A of the New York
Real Property Law, such mandatory provisions of said Article 4-A shall prevail, provided that if said
Article 4-A shall not apply to this Agreement, should at any time be repealed, or cease to apply to this Agreement or be
construed by judicial decision to be inapplicable, such mandatory provisions of such Article 4-A shall cease to have any
further effect upon the provisions of this Agreement.

 

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Section 10.15. Assumption
by Trust of Duties and Obligations of the Loan Sellers Under the Loan Documents. The Trustee on behalf of the Trust as
assignee of the Trust Loan and the Certificate Administrator, the Servicer and Special Servicer hereby acknowledge that the
Trust assumes all of the rights and obligations of the Loan Sellers as lender under the Loan Documents and agrees to be bound
thereby, and in accordance with the terms thereof. Such acknowledgement on behalf of the Trust is made by the Trustee in the
exercise of the powers and authority conferred and vested in it and is intended for the purpose of binding only the Trust.
Nothing contained in this Section shall be construed as creating any liability on the part of the Trustee, individually
or personally, it being agreed that all liabilities and obligations being acknowledged as assumed are solely those of the
Trust, and under no circumstances shall the Trustee be liable personally for the breach or failure of any obligation,
representation, warranty or covenant made or undertaken by the Trust under this Agreement, any Loan Document or any related
document.

 

Section 10.16. Notice
to Each Rating Agency. (a) The Certificate Administrator shall use its commercially reasonable efforts to promptly
provide notice to the 17g-5 Information Provider by e-mail with respect to each of the following of which a Responsible
Officer of the Certificate Administrator has actual knowledge, and the 17g-5 Information Provider shall promptly upload such
notice or information to the 17g-5 Information Provider’s Website. Information will be posted on the same Business Day
of receipt provided that such information is received by 2:00 p.m. (New York time) or, if received after 2:00 p.m., on the
next Business Day by 12:00 p.m. (New York time):

 

(i)        any
material change or amendment to this Agreement or the Loan Agreement;

 

(ii)       the
occurrence of any Event of Default that has not been cured;

 

(iii)      the
merger, consolidation, resignation or termination of the Servicer, Special Servicer, the Certificate Administrator or the Trustee;

 

(iv)      any
notice of a Servicer Termination Event or Special Servicer Termination Event delivered pursuant to Section 7.1(b)
and any notice of the termination of the Servicer or the Special Servicer and appointment of a successor to the Servicer or the
Special Servicer delivered pursuant to Section 7.3(a);

 

(v)       each
of the Loan Sellers’ repurchase of the related Loan Seller Percentage Interest in the Trust Loan pursuant to Sections 2.2
and 2.8;

 

(vi)      the
final payment to any Class of Certificateholders;

 

(vii)     any
change in the location of the Distribution Account;

 

(viii)    any
event that would result in the voluntary or involuntary termination of any insurance of the accounts of the Servicer;

 

(ix)       any
change in the lien priority of the Trust Loan; and

 

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(x)        each
Distribution Date Statement described in Section 4.4(a) and the CREFC® Reports.

 

(b)       The
Servicer or the Special Servicer shall promptly furnish to the 17g-5 Information Provider by e-mail copies of the following (to
the extent not already delivered or made available pursuant to the terms of this Agreement), and the 17g-5 Information Provider
shall promptly upload such documents to the 17g-5 Information Provider’s Website. Information will be posted on the same
Business Day of receipt provided that such information is received by 2:00 p.m. (New York time) or, if received after 2:00 p.m.
(New York time), on the next Business Day by 12:00 p.m. (New York time):

 

(i)        each
of its annual statements as to compliance described in Section 11.7;

 

(ii)       each
of its annual independent public accountants’ servicing reports described in Section 11.9;

 

(iii)      a
copy of each operating and other financial statements or occupancy report to the extent such information is required to be delivered
under the Whole Loan and to the extent such information is collected by the Servicer or the Special Servicer pursuant to this
Agreement;

 

(iv)      upon
request, each inspection report prepared in connection with any inspection conducted pursuant to Section 3.22; and

 

(v)       upon
request, each appraisal obtained pursuant to Section 3.7.

 

Section 10.17. Exchange
Act Rule 17g-5 Procedures. (a)  Except as otherwise provided in Section 10.16 or this Section 10.17 or
otherwise in this Agreement or as required by law, none of the Servicer, the Special Servicer, the Certificate
Administrator or the Trustee shall provide any information directly to, or communicate with, either orally or in writing, any
Rating Agency regarding the Certificates or the Trust Loan relevant to the Rating Agencies’ surveillance of the
Certificates or the Trust Loan, including, but not limited to, providing responses to inquiries from a Rating Agency
regarding the Certificates or the Trust Loan relevant to such Rating Agency’s surveillance of the Certificates. To the
extent that a Rating Agency makes an inquiry or initiates communications with the Servicer, the Special Servicer, the
Certificate Administrator or the Trustee regarding the Certificates or the Trust Loan relevant to such Rating Agency’s
surveillance of the Certificates, all responses to such inquiries or communications from such Rating Agency shall be made in
writing by the responding party and shall be provided to the 17g-5 Information Provider who shall post such written response
to the 17g-5 Information Provider’s Website. Information will be posted on the same Business Day of receipt provided
that such information is received by 2:00 p.m. (New York time) or, if received after 2:00 p.m. (New York time), on the next
Business Day by 12:00 p.m. (New York time).

 

If
a Rating Agency requests access to the 17g-5 Information Provider’s Website, access shall be granted by the 17g-5 Information
Provider on the same Business Day provided that such request is made prior to 2:00 p.m., New York time on such Business Day, or,
if received after 2:00 p.m., New York time, on the following Business Day.

 

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(b)       To
the extent that any of the Servicer, the Special Servicer, the Certificate Administrator or the Trustee is required to provide
any information to, or communicate with, any Rating Agency in accordance with its obligations under this Agreement, the Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as applicable, shall provide such information or communication
to the 17g-5 Information Provider by e-mail, which the 17g-5 Information Provider shall upload to the 17g-5 Information Provider’s
Website. Information will be posted on the same Business Day of receipt provided that such information is received by 2:00 p.m.
(New York time) or, if received after 2:00 p.m. (New York time), on the next Business Day by 12:00 p.m. (New York time). The foregoing
shall include any Rating Agency Confirmation request made pursuant to this Agreement, which shall be in writing, with a cover
letter indicating the nature of the request and shall include all information the requesting party believes is reasonably necessary
for the applicable Rating Agency to make its decision.

 

(c)       The
Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall be permitted to orally communicate with the
Rating Agencies; provided that such party summarizes the information provided to the Rating Agencies in such communication in
writing and provides the 17g-5 Information Provider with such written summary in accordance with the procedures set forth in herein
on the same day such communication takes place; provided that the summary of such oral communications shall not be attributed
to the Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary on the 17g-5 Information
Provider’s Website in accordance with the procedures set forth herein. The 17g-5 Information Provider shall notify any party that
delivers information to the 17g-5 Information Provider under this Agreement that such information was received and that it has
been posted. The 17g-5 Information Provider shall notify each Person that has signed up for access to the 17g-5 Information Provider’s
Website in respect of the transaction governed by this Agreement each time an additional document is posted to the 17g-5 Information
Provider’s Website and such notice shall specifically identify such document in the subject line or otherwise in the body of the
email. The 17g-5 Information Provider shall send such notice to such Person’s email address provided by and used by such Person
for the purpose of accessing the 17g-5 Information Provider’s Website, including a general email address if such general email
address has been provided to the 17g-5 Information Provider in connection with a completed NRSRO Certification in the form of
Exhibit X hereto.

 

Any
information required to be delivered to the 17g-5 Information Provider by any party under this Agreement shall be delivered to
it via electronic mail at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “VNDO 2016-350P”
and an identification of the type of information being provided in the body of such electronic mail, or via any alternative electronic
mail address following notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information
Provider.

 

The
17g-5 Information Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information
being delivered is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports
to be. In the event that any information is delivered or posted in error, the 17g-5 Information Provider may remove it from the
17g-5 Information Provider’s Website. The 17g-5 Information Provider has not obtained and shall not be deemed to have obtained
actual knowledge of any information posted to the 17g-5 Information Provider’s Website.

 

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Access
will be provided by the 17g-5 Information Provider to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit
X hereto. Questions regarding delivery of information to the 17g-5 Information Provider may be directed to www.ctslink.com
or 17g5informationprovider@wellsfargo.com. In the event that any report, statement, document, file or other data to be delivered
to the 17g-5 Information Provider under this Agreement is too large in its electronic form to be delivered via email, such report,
statement, document, file or other data may be uploaded to an alternate location provided by the 17g-5 Information Provider, and
the party uploading such report, statement, document, file or other data shall notify the 17g-5 Information Provider via email
that such report, statement, document, file or other data has been so uploaded and is ready for posting to the 17g-5 Information
Provider’s Internet Website.

 

In
connection with the delivery by the Servicer or the Special Servicer, as applicable, to the 17g-5 Information Provider of any
information, report, notice or document for posting to the 17g-5 Information Provider’s Website pursuant to this Agreement, the
Servicer or the Special Servicer, as applicable, may, but is not obligated to, send such information, report, notice or other
document to the applicable Rating Agency or Rating Agencies following the earlier of (i) receipt of notification from the 17g-5
Information Provider that such information, report, notice or document has been posted to the 17g-5 Information Provider’s
Website and (ii) two Business Days following delivery to the 17g-5 Information Provider.

 

(d)       Each
of the Servicer, the Special Servicer, the Certificate Administrator and the Trustee (each, an “Indemnifying Party”)
hereby expressly agrees to indemnify and hold harmless the Depositor and its respective officers, directors, shareholders, members,
managers, employees, agents, Affiliates and controlling persons, and the Trust Fund (each, an “Indemnified Party”),
from and against any and all losses, liabilities, damages, claims, judgments, costs, fees, penalties, fines, forfeitures or other
expenses (including reasonable legal fees and expenses), joint or several, to which any such Indemnified Party may become subject,
under the Securities Act, the Exchange Act or otherwise, pursuant to a third-party claim, insofar as such losses, liabilities,
damages, claims, judgments, costs, fees, penalties, fines, forfeitures or other expenses (including reasonable legal fees and
expenses) arise out of or are based upon (i) such Indemnifying Party’s breach of Section 10.16 or Section 10.17(a),
(b), and (c), as applicable, or (ii) a determination by any Rating Agency that it cannot reasonably rely on
representations made by the Depositor or any Affiliate thereof pursuant to Exchange Act Rule 17g-5(a)(3), to the extent caused
by any such breach referred to in clause (i) above by the applicable Indemnifying Party, and will reimburse such Indemnified
Party for any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending
any such action or claim, as such expenses are incurred.

 

(e)       None
of the Servicer, the Special Servicer, the Certificate Administrator or the Trustee shall have any liability for (i) the
17g-5 Information Provider’s failure to post on the 17g-5 Information Provider’s Website information provided by the
Servicer, the Special Servicer, the Certificate Administrator or the Trustee in accordance with the terms of this Agreement, (ii) any
malfunction or disabling of the 17g-5 Information Provider’s Website or (iii) such party’s failure to perform
any of its obligations under this Agreement regarding providing information or communication to the Rating Agencies that are required
to be performed after the 17g-5 Information Provider posts the related information or communication

 

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if the 17g-5 Information Provider
fails to notify such party that it has posted such information or communication on the 17g-5 Information Provider’s Website.

 

(f)       None
of the foregoing restrictions in this Section 10.17 prohibit or restrict oral or written communications, or providing
information, between the Servicer or the Special Servicer, on the one hand, and any Rating Agency, on the other hand, with regard
to (i) such Rating Agency’s review of the ratings it assigns to the Servicer or the Special Servicer, as applicable,
(ii) such Rating Agency’s approval of the Servicer or the Special Servicer, as applicable, as a commercial mortgage
master, special or primary servicer or (iii) such Rating Agency’s evaluation of the Servicer’s or the Special
Servicer’s, as applicable, servicing operations in general; provided, however, that the Servicer or the Special
Servicer, as applicable, shall not provide any information relating to the Certificates or the Trust Loan to such Rating Agency
in connection with such review and evaluation by such Rating Agency unless: (x) borrower, property or deal specific identifiers
are redacted; (y) such information has already been provided to the 17g-5 Information Provider and has been uploaded on to
the 17g-5 Information Provider’s Website or (z) the Rating Agency confirms in writing that it does not intend to use such
information in undertaking credit rating surveillance with respect to any Class of Certificates; provided, however,
that the Rating Agencies may use information delivered under this clause (z) for any purpose to the extent it is publicly
available (unless the availability results from a breach of this Agreement or any other confidentiality agreement to which such
Rating Agency is subject) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s
Website (or another 17g-5 information provider’s website that they have access to) other than pursuant to this Section
10.17(f).

 

The
17g-5 Information Provider shall maintain the 17g-5 Information Provider’s Website in accordance with Exchange Act Rule 17g-5(a)(3)(iii).

 

Section 10.18. Cooperation
with the Loan Sellers with Respect to Rights Under the Loan Agreement. It is expressly agreed and understood that,
notwithstanding the assignment of the Loan Documents, it is expressly intended that the Loan Sellers get the benefit of the
provisions of any section of the Loan Agreement or securitization cooperation agreement related to indemnification of the
lender and/or its affiliates with respect to any securitization of the related Loan. Therefore, the Depositor, the Servicer,
the Special Servicer, the Certificate Administrator and Trustee hereby agree to cooperate with the Loan Sellers with respect
to the benefits of the provisions of any section of the Loan Agreement or securitization cooperation agreement related to
indemnification of the lender and/or its affiliates with respect to any securitization of the Trust Loan with respect to
securitization indemnification, including, without limitation, reassignment to the Loan Sellers of such sections, but no
other portion of the Loan Documents, to permit the Loan Sellers and their respective affiliates to enforce such provisions
for its benefit. To the extent that the Trustee is required to execute any document facilitating an assignment under this Section 10.18,
such document shall be in form and substance reasonably acceptable to the Trustee.

 

Section 10.19. PNC
Bank, National Association. PNC Bank, National Association, by execution hereof by its division, Midland Loan Services, a
Division of PNC Bank, National Association, acknowledges and agrees that this Agreement is binding upon and

 

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enforceable
against PNC Bank, National Association to the full extent of the obligations set forth herein with respect to Midland Loan
Services, a Division of PNC Bank, National Association.

 

Article
11

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section 11.1. Intent
of the Parties; Reasonableness. The parties hereto acknowledge and agree that the purpose of Article 11 of this Agreement
is, among other things, to facilitate compliance by any Other Depositor with the provisions of Regulation AB and the related rules
and regulations of the Commission. Except as expressly required by Sections 11.7, 11.8 and 11.9, the Depositor
shall not, and no Other Depositor may, exercise its rights to request delivery of information or other performance under these
provisions other than in good faith, or for purposes other than compliance with the Act, the Exchange Act and the Sarbanes-Oxley
Act. The parties hereto acknowledge that interpretations of the requirements of Regulation AB may change over time due to interpretive
guidance provided by the Commission or its staff, and agree to comply with reasonable requests made by the Depositor, or any Other
Depositor, in good faith for delivery of information under these provisions on the basis of such evolving interpretations of Regulation
AB. In connection with the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P, and any Companion
Loan Securities, each of the parties to this Agreement shall cooperate fully with the Depositor, the Certificate Administrator,
any Other Depositor and any Other Exchange Act Reporting Party, as applicable, to deliver to the Depositor or Other Depositor,
as applicable (including any of its assignees or designees), any and all statements, reports, certifications, records and any
other information in its possession or reasonably available to it and necessary in the reasonable good faith determination of
the Depositor, the Certificate Administrator, any Other Depositor or any Other Exchange Act Reporting Party, as applicable, to
permit any Other Depositor to comply with the provisions of Regulation AB, together with such disclosures relating to the Servicer,
the Special Servicer, the Certificate Administrator and the Trustee, as applicable, and any Sub-Servicer, or the servicing of
the Whole Loan, reasonably believed by the Depositor or any Other Depositor, as applicable, in good faith to be necessary in order
to effect such compliance.

 

Section 11.2. Succession;
Sub-Servicers; Subcontractors. (a)  For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act (in addition to any requirements contained in Section 11.7 of this Agreement), in connection with the
succession to the Servicer and Special Servicer or any Sub-Servicer as servicer or sub-servicer (to the extent such Sub-Servicer
is a “servicer” meeting the criteria contemplated by Item 1108(a)(2) of Regulation AB) under this Agreement by any
Person (i) into which the Servicer and Special Servicer or such Sub-Servicer may be merged or consolidated, or (ii) which
may be appointed as a successor to the Servicer and Special Servicer or any such Sub-Servicer, the Servicer or Special Servicer,
as applicable (depending on whether such succession involves it or one of its Sub-Servicers), shall provide (other than in the
case of a succession pursuant to an appointment under Section 7.1 or 7.2, in which case the successor servicer
or successor special servicer, as applicable, shall provide) to any Other Depositor as to which the applicable Companion Loan
is affected, at least five (5) Business Days prior to the effective date of such succession or appointment as long as such
disclosure prior to such effective date would not be

 

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violative of any applicable law or confidentiality agreement (and as long
as such notice is not given by a successor servicer or successor special servicer appointed under Section 7.1 or 7.2),
and otherwise no later than one (1) Business Day after such effective date of succession, (x) written notice to the Depositor
and each such Other Depositor of such succession or appointment and (y) in writing and in form and substance reasonably satisfactory
to each such Other Depositor, all information relating to such successor servicer reasonably requested by any such Other Depositor
in order to comply with its reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under
the Exchange Act are required to be filed under the Exchange Act).

 

(b)       For
so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, each of the Servicer,
the Special Servicer, any Sub-Servicer and the Certificate Administrator (each of the Servicer, the Special Servicer and the Certificate
Administrator and each Sub-Servicer, for purposes of this Section 11.2(b) and Section 11.2(c), a “Servicing
Party”) is permitted to utilize one or more Subcontractors to perform certain of its obligations hereunder. Such Servicing
Party shall promptly upon request provide to any Other Depositor as to which the applicable Companion Loan is affected, a written
description (in form and substance satisfactory to each such Other Depositor) of the role and function of each Subcontractor that
is a Servicing Function Participant utilized by such Servicing Party during the preceding calendar year, specifying (i) the
identity of such Subcontractor, and (ii) which elements of the Servicing Criteria will be addressed in assessments of compliance
provided by each such Subcontractor. Each Servicing Party shall cause any Subcontractor utilized by such Servicing Party that
is determined to be a Servicing Function Participant to comply with the provisions of Section 11.8 and Section 11.9
of this Agreement to the same extent as if such Subcontractor were such Servicing Party. Such Servicing Party shall obtain
from each such Subcontractor (or, in the case of each Sub-Servicer set forth on Exhibit V, shall use commercially
reasonable efforts to obtain from such Sub-Servicer) and deliver to the applicable Persons any assessment of compliance report
and related accountant’s attestation required to be delivered by such Subcontractor under Section 11.8 and Section
11.9 of this Agreement, in each case, as and when required to be delivered.

 

(c)       For
so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, notwithstanding the foregoing,
if a Servicing Party engages a Subcontractor in connection with the performance of any of its duties under this Agreement, such
Servicing Party shall be responsible for determining whether such Subcontractor is a Servicing Function Participant and a “servicer”
within the meaning of Item 1101 of Regulation AB and whether such Subcontractor meets the criteria in Item 1108(a)(2)(i), (ii) or
(iii) of Regulation AB. If a Servicing Party determines, pursuant to the preceding sentence, that such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation
AB, then such Subcontractor shall be deemed to be a Sub-Servicer for purposes of this Agreement, and the engagement of such Sub-Servicer
shall not be effective unless and until notice is given to the Depositor and the Certificate Administrator, as well as any Other
Depositor as to which the applicable Companion Loan is affected, of any such Sub-Servicer and Subservicing Agreement. No Subservicing
Agreement shall be effective until five (5) Business Days after such written notice is received by the Depositor, the Certificate
Administrator and each such Other Depositor. Such notice shall contain all information reasonably necessary, and in such form
as may be necessary, to enable

 

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each Other Exchange Act Reporting Party as to which the applicable Companion Loan is affected,
to accurately and timely report the event under Item 6.02 of Form 8-K pursuant to the related Other Pooling and Servicing Agreement
or otherwise (if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

(d)       For
so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, in connection with the
succession to the Trustee or Certificate Administrator under this Agreement by any Person (i) into which the Trustee or Certificate
Administrator may be merged or consolidated, or (ii) which may be appointed as a successor to the Trustee or Certificate
Administrator, the Trustee or Certificate Administrator, as applicable, shall notify the Depositor and each Other Depositor, at
least ten (10) Business Days prior to the effective date of such succession or appointment (or if such prior notice would be violative
of applicable law or any applicable confidentiality agreement, no later than the time required under Section 11.6 of this
Agreement) and shall furnish pursuant to Section 11.6 of this Agreement to each Other Depositor in writing and in form
and substance reasonably satisfactory to the Depositor and each Other Depositor, all information reasonably necessary for each
Other Exchange Act Reporting Party to accurately and timely report the event under Item 6.02 of Form 8-K pursuant to the related
Other Pooling and Servicing Agreement or otherwise (if such reports under the Exchange Act are required to be filed under the
Exchange Act).

 

Section 11.3. Other
Securitization Trust’s Filing Obligations. For so long as any Other Securitization Trust is subject to the reporting
requirements of the Exchange Act, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall (and
shall cause (or, in the case of each Sub-Servicer set forth on Exhibit V, shall use commercially reasonable efforts
to cause) each Additional Servicer and Servicing Function Participant utilized thereby to) reasonably cooperate with each Other
Depositor in connection with the satisfaction of each Other Securitization Trust’s reporting requirements under the Exchange
Act.

 

Section 11.4. Form
10-D Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
within one Business Day after the related Distribution Date (using commercially reasonable efforts), but in no event later than
noon (New York City time) on the third Business Day after the related Distribution Date, (i) the parties as set forth on
Exhibit R to this Agreement, shall be required to provide to each Other Exchange Act Reporting Party and each Other
Depositor to which the particular Additional Form 10-D Disclosure is relevant for Exchange Act reporting purposes, to the extent
a Servicing Officer or Responsible Officer thereof has knowledge thereof (other than information required by Item 1117 of
Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible Officer,
as the case may be, or any lawyer in the in-house legal department of such party), in EDGAR-compatible format (to the extent available
to such party in such format), or in such other format as otherwise agreed upon by each such Other Exchange Act Reporting Party,
each such Other Depositor and such parties, the form and substance of the Additional Form 10-D Disclosure, if applicable,
and (ii) the parties listed on Exhibit R to this Agreement shall include with such Additional Form 10-D
Disclosure application to such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit V,
shall use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent required under
Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached as Exhibit R
to this Agreement. The

 

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Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by
the parties listed on Exhibit R to this Agreement of their duties under this paragraph or proactively solicit or procure
from such parties any Additional Form 10-D Disclosure information. Information delivered to the Certificate Administrator hereunder
should be delivered by email to cts.sec.notifications@wellsfargo.com or by facsimile to (410) 715-2380, Attn: CTS SEC Notifications.
Neither the Trustee nor the Certificate Administrator shall have any duty under this Agreement to monitor or enforce the performance
by the parties listed on Exhibit R of their duties under this paragraph or proactively solicit or procure from such parties
any Additional Form 10-D Disclosure information. The Depositor shall be responsible for any reasonable expenses incurred by the
Trustee or Certificate Administrator in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to
this paragraph.

 

Section 11.5. Form
10-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
no later than March 1st, commencing in March 2017, (i) the parties listed on Exhibit S to this Agreement
shall be required to provide (and with respect to any Servicing Function Participant of such party (other than any party to this
Agreement), shall cause such Servicing Function Participant to provide) to each Other Exchange Act Reporting Party and each Other
Depositor to which the particular Additional Form 10-K Disclosure is relevant for Exchange Act Reporting purposes, to the extent
a Servicing Officer or a Responsible Officer, as the case may be, thereof has actual knowledge (other than information required
by Item 1117 of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible
Officer, as the case may be, or any lawyer in the in house legal department of such party), in EDGAR compatible format (to the
extent available to such party in such format) or in such other format as otherwise agreed upon by each such Other Exchange Act
Reporting Party, each such Other Depositor and such providing parties, the form and substance of any Additional Form 10-K Disclosure
described on Exhibit S hereto applicable to such party, and (ii) the parties listed on Exhibit S to this Agreement
shall include with such Additional Form 10-K Disclosure applicable to such party and shall cause each Sub-Servicer (or, in the
case of each Sub-Servicer set forth on Exhibit V, shall use commercially reasonable efforts to cause such Sub-Servicer)
and Subcontractor of such party to the extent required under Regulation AB to provide, and if received, include, an Additional
Disclosure Notification in the form attached as Exhibit U to this Agreement. The Certificate Administrator has no duty
under this Agreement to monitor or enforce the performance by the parties listed on Exhibit S hereto of their duties under
this paragraph or proactively solicit or procure from such parties any Additional Form 10-K Disclosure information.

 

Section 11.6. Form
8-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
to the extent a Servicing Officer or Responsible Officer thereof has actual knowledge of such event (other than Item 1117
of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible Officer, as
the case may be, or any lawyer in the in-house legal department of such party), within one Business Day after the occurrence of
an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”) (using commercially reasonable
efforts), but in no event later than 1:00 p.m. (New York City time) on the second Business Day after the occurrence of a Reportable
Event, (i) the parties set forth on Exhibit T to this Agreement shall be required to provide (and (i) with respect
to any Servicing Function

 

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Participant of such party that is a Sub-Servicer set forth on Exhibit V, shall use commercially
reasonable efforts to cause such Servicing Function Participant to provide, and (ii) with respect to any other Servicing
Function Participant of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to
provide) to each Other Depositor and each Other Exchange Act Reporting Party to which the particular Form 8-K Disclosure Information
is relevant for Exchange Act reporting purposes, in EDGAR-compatible format (to the extent available to such party in such format)
or in such other format as otherwise agreed upon by each such Other Depositor, each such Other Exchange Act Reporting Party and
such providing parties, any Form 8-K Disclosure Information described on Exhibit T to this Agreement as applicable to such
party, if applicable, and (ii) the parties listed on Exhibit T to this Agreement shall include with such Form 8-K
Disclosure Information applicable to such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth
on Exhibit V, shall use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to
the extent required under Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form
attached hereto as Exhibit U. The Certificate Administrator has no duty under this Agreement to monitor or enforce
the performance by the parties listed on Exhibit T of their duties under this paragraph or proactively solicit or procure
from such parties any Form 8-K Disclosure Information.

 

Section 11.7. Annual
Compliance Statements. On or before March 1st of each year, commencing in 2017, each of the Servicer, the Special Servicer
(regardless of whether the Special Servicer has commenced special servicing of the Whole Loan) and, for so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator, at its own expense, shall furnish
(and each such party, (i) with respect to each Servicing Function Participant that is a Sub-Servicer set forth on Exhibit V
with which it has entered into a servicing relationship with respect to the Whole Loan, shall use commercially reasonable
efforts to cause such Servicing Function Participant to furnish, and (ii) with respect to any other Servicing Function Participant
of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to furnish) (each such
Servicing Function Participant and each of the Servicer, Special Servicer and the Certificate Administrator, a “Certifying
Servicer”) to the Certificate Administrator (who shall post it to the Certificate Administrator’s Website) the
17g-5 Information Provider (who shall post it to the 17g-5 Information Provider’s Website), as applicable, pursuant to Section 8.14(b))
or Section 10.17, the Trustee the Depositor and the Companion Loan Holders (or, in the case of a Companion Loan that is
part of an Other Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party), an Officer’s
Certificate stating, as to the signer thereof, that (A) a review of such Certifying Servicer’s activities during the
preceding calendar year or portion thereof and of such Certifying Servicer’s performance under this Agreement or the applicable
sub-servicing agreement, as applicable, has been made under such officer’s supervision and (B) to the best of such
officer’s knowledge, based on such review, such Certifying Servicer has fulfilled all its obligations under this Agreement
or the applicable sub-servicing agreement, as applicable, in all material respects throughout such year or portion thereof, or,
if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such
officer and the nature and status thereof. For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, promptly after receipt of each such Officer’s Certificate, the Depositor (and, in the case of a Companion
Loan that is part of an Other Securitization Trust, the applicable Other Depositor and 

 

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Other Exchange Act Reporting Party) may
review each such Officer’s Certificate and, if applicable, consult with the Certifying Servicer, as applicable, as to the
nature of any failures by such Certifying Servicer, respectively, or any related Servicing Function Participant with which the
Servicer or the Special Servicer, as applicable, has entered into a servicing relationship with respect to the Trust Loan or the
Companion Loans in the fulfillment of any Certifying Servicer’s obligations hereunder or under the applicable sub-servicing
or primary servicing agreement. The obligations of each Certifying Servicer under this Section apply to each such Certifying Servicer
that serviced the Trust Loan or a Companion Loan during the applicable period, whether or not the Certifying Servicer is acting
in such capacity at the time such Officer’s Certificate is required to be delivered. Copies of all Officer’s Certificates
delivered pursuant to this Section 11.7 shall be made available to any Privileged Person by the Certificate Administrator
by posting such Compliance Report to the Certificate Administrator’s Website pursuant to Section 8.14(b).

 

Section 11.8. Annual
Reports on Assessment of Compliance with Servicing Criteria. (a) On or before March 1st of each year, commencing in 2017,
the Servicer, the Special Servicer (regardless of whether the Special Servicer has commenced special servicing of the Whole Loan)
and, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate
Administrator, each at its own expense, shall furnish (and each such party, (i) with respect to each Servicing Function Participant
that is a Sub-Servicer set forth on Exhibit V with which it has entered into a servicing relationship with respect
to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish, and (ii) with
respect to any other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing
Function Participant to furnish) (each Servicer, the Special Servicer, the Certificate Administrator and any Servicing Function
Participant, as the case may be, a “Reporting Servicer”) to the Certificate Administrator (who shall post it
to the Certificate Administrator’s Website) and the 17g-5 Information Provider (who shall post it to the 17g-5 Information
Provider’s Website), as applicable, pursuant to Section 8.14(b)) or Section 10.17, the Trustee, the Depositor
and the Companion Loan Holders (or, in the case of a Companion Loan that is part of an Other Securitization Trust, the applicable
Other Depositor and Other Exchange Act Reporting Party), a report on an assessment of compliance with the Applicable Servicing
Criteria that contains (A) a statement by such Reporting Servicer of its responsibility for assessing compliance with the
Applicable Servicing Criteria, (B) a statement that such Reporting Servicer used the Applicable Servicing Criteria to assess
compliance with the Applicable Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the
Applicable Servicing Criteria as of the end of and for the preceding calendar year, including, if there has been any material
instance of noncompliance with the Applicable Servicing Criteria, a discussion of each such failure and the nature and status
thereof and (D) a statement that a registered public accounting firm that is a member of the American Institute of Certified
Public Accountants has issued an attestation report on such Reporting Servicer’s assessment of compliance with the Applicable
Servicing Criteria as of and for such period. Copies of all compliance reports delivered pursuant to this Section 11.8
shall be provided to any Certificateholder, upon the written request therefor, by the Certificate Administrator.

 

Each
such report shall be addressed to the Depositor and each Other Depositor (if addressed) and signed by an authorized officer of
the applicable company, and shall address each of the Applicable Servicing Criteria. For so long as any Other Securitization Trust
is subject to

 

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the reporting requirements of the Exchange Act, promptly after receipt of each such report, the Depositor and each
Other Depositor may review each such report and, if applicable, consult with the each Reporting Servicer as to the nature of any
material instance of noncompliance with the Applicable Servicing Criteria.

 

(b)       On
the Closing Date, the Servicer, the Special Servicer and the Certificate Administrator each acknowledge and agree that Exhibit
L hereto sets forth the Relevant Servicing Criteria for such party.

 

(c)       No
later than 10 Business Days after the end of each fiscal year for the Trust, the Servicer, the Special Servicer and, for so long
as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Servicer, the Special Servicer
and the Certificate Administrator shall notify the Certificate Administrator, the Depositor, each Other Exchange Act Reporting
Party and each Other Depositor as to the name of each Servicing Function Participant utilized by it, in each case, and each such
notice will specify what specific Servicing Criteria will be addressed in the report on assessment of compliance prepared by such
Servicing Function Participant. When the Servicer, the Special Servicer and, for so long as any Other Securitization Trust is
subject to the reporting requirements of the Exchange Act, the Certificate Administrator submit their assessments pursuant to
Section 11.8(a) of this Agreement, such parties, as applicable, will also at such time include the assessment (and related
attestation pursuant to Section 11.9) of each Servicing Function Participant engaged by it. The fiscal year for the Trust
shall be January 1 through and including December 31 of each calendar year.

 

(d)       In
the event the Servicer, the Special Servicer or, for so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, the Certificate Administrator is terminated or resigns pursuant to the terms of this Agreement, such party
shall provide, and each such party shall cause (or, if the Servicing Function Participant is a Sub-Servicer set forth on Exhibit V
hereto, shall use commercially reasonable efforts to cause) any Servicing Function Participant engaged by it to provide (and
the Servicer, the Special Servicer and the Certificate Administrator shall, with respect to any Servicing Function Participant
that resigns or is terminated under any applicable servicing agreement, cause such Servicing Function Participant to provide)
an annual assessment of compliance pursuant to this Section 11.8, coupled with an attestation as required in Section
11.9 in respect of the period of time that the Servicer, the Special Servicer or, for so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator was subject to this Agreement
or the period of time that the Servicing Function Participant was subject to such other servicing agreement.

 

Section 11.9. Annual
Independent Public Accountants’ Servicing Report. On or before March 1st of each year, commencing in 2017, the Servicer,
the Special Servicer and, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange
Act, the Certificate Administrator, each at its own expense, shall cause (and each such party, (i) with respect to each Servicing
Function Participant that is a Sub-Servicer set forth on Exhibit V with which it has entered into a servicing relationship
with respect to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish,
and (ii) with respect to any other Servicing Function Participant of such party (other than

 

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any party to this Agreement),
shall cause such Servicing Function Participant to furnish) a registered public accounting firm (which may also render other services
to the Servicer, the Special Servicer, the Certificate Administrator or the applicable Servicing Function Participant, as the
case may be) and that is a member of the American Institute of Certified Public Accountants to furnish a report to the Certificate
Administrator (who shall post it to the Certificate Administrator’s Website pursuant to Section 8.14(b)), the Depositor,
the Companion Loan Holders (or, in the case of a Companion Loan that is part of an Other Securitization Trust, the applicable
Other Depositor and Other Exchange Act Reporting Party) and the 17g-5 Information Provider (who shall post it to the 17g-5 Information
Provider’s Website pursuant to Section 10.17), to the effect that (i) it has obtained a representation regarding
certain matters from the management of such Reporting Servicer, which includes an assessment from such Reporting Servicer of its
compliance with the Applicable Servicing Criteria and (ii) on the basis of an examination conducted by such firm in accordance
with standards for attestation engagements issued or adopted by the Public Company Accounting Oversight Board, it is expressing
an opinion as to whether such Reporting Servicer’s assessment of compliance with the Applicable Servicing Criteria was fairly
stated in all material respects, or it is not expressing an overall opinion regarding such Reporting Servicer’s assessment
of compliance with the Applicable Servicing Criteria. In the event that an overall opinion cannot be expressed, such registered
public accounting firm shall state in such report why it was unable to express such an opinion. Each accountant’s attestation
report required hereunder shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Act and the
Exchange Act. Such report must be available for general use and not contain restricted use language. Copies of all statements
delivered pursuant to this Section 11.9 shall be made available to any Privileged Person by the Certificate Administrator
posting such statement on the Certificate Administrator’s Website pursuant to Section 8.14(b).

 

For
so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, promptly after receipt
of such report from the Servicer, the Special Servicer, the Certificate Administrator or any Servicing Function Participant, the
Depositor and each Other Depositor may review the report and, if applicable, consult with the Servicer, the Special Servicer or,
for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator
as to the nature of any defaults by the Servicer, the Special Servicer, the Certificate Administrator or any Servicing Function
Participant with which it has entered into a servicing relationship with respect to the Trust Loan or any Companion Loan, as the
case may be, in the fulfillment of any of the Servicer’s, the Special Servicer’s, the Certificate Administrator’s
or the applicable Servicing Function Participants’ obligations hereunder or under the applicable sub-servicing agreement.

 

Section 11.10. Significant
Obligor. If an Other Depositor has notified the Servicer in writing that a Property is a “significant obligor”
(within the meaning of Item 1101(k) of Regulation AB) with respect to an Other Securitization Trust that includes such Companion
Loan and of the distribution date under the Other Pooling and Servicing Agreement, the Servicer shall, if the Servicer is in receipt
of (i) the updated financial statements of such “significant obligor” for any calendar quarter (other than the fourth
calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other
Depositor, or (ii) the updated financial statements of such “significant obligor” for any calendar year, beginning
with the calendar year following such notice from the Other Depositor, deliver to

 

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the Other Depositor and Other Trustee, on or
prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or seven
(7) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement
receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or seventeen
(17) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial
statements of such “significant obligor”, together with the net operating income of such “significant obligor”
for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines or (B) if such financial
statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline
or less than seventeen (17) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable,
such financial statements of such “significant obligor”, together with the net operating income of such “significant
obligor” for the applicable period as reported by the related Borrower in such financial statement.

 

If
the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form
10-K, as the case may be, of such “significant obligor” within ten Business Days after the date such financial information
is required to be delivered under the Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other
Securitization Trust that includes the related Companion Loan (and shall cause each applicable sub-servicing agreement to require
any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent
with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of such Other Depositor under
the Exchange Act) to obtain the periodic financial statements of the Loan Borrower under the Loan Documents.

 

The
Servicer shall (and shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to) retain written
evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Loan Borrower to obtain the required financial
information and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable,
is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing
its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization
Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as
specified in the related Other Pooling and Servicing Agreement.

 

Section 11.11. Sarbanes-Oxley
Backup Certification. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange
Act, the Certificate Administrator, the Servicer and the Special Servicer shall provide (and with respect to any other Servicing
Function Participant of such party, shall cause such Servicing Function Participant to provide) to the Person who signs the Sarbanes-Oxley
Certification with respect to such Other Securitization Trust (the “Certifying Person”) no later than March
1st of the year following the year to which the Form 10-K of such Other Securitization Trust relates or, if March 1st is not a
Business Day, on the immediately following Business Day, a certification in the form attached to this Agreement as Exhibit W,
on which the Certifying Person, the entity for which the Certifying Person acts as an officer, and such entity’s officers,
directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can reasonably
rely. In the event any Reporting

 

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Servicer is terminated or resigns pursuant to the terms of this Agreement, or any applicable
sub-servicing agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide a certification
to the Certifying Person pursuant to this Section 11.11 with respect to the period of time it was subject to this Agreement
or the applicable sub-servicing or primary servicing agreement, as the case may be.

 

Section 11.12. Indemnification.
Each of the Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall indemnify and hold harmless the
Depositor, each Other Depositor and any employee, director or officer of the Depositor or any Other Depositor from and against
any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs
and expenses incurred by such indemnified party arising out of (i) an actual breach by the Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as the case may be, of its obligations under this Article 11 or (ii) negligence,
bad faith or willful misconduct on the part of the Servicer, the Special Servicer, the Certificate Administrator or the Trustee,
as applicable, in the performance of such obligations.

 

The
Servicer, the Special Servicer and the Certificate Administrator shall cause each Servicing Function Participant of such party
that is not a Sub-Servicer set forth on Exhibit V (and with respect to any Servicing Function Participant of such
party that is a Sub-Servicer set forth on Exhibit V, shall use commercially reasonable efforts to cause such Servicing
Function Participant) to indemnify and hold harmless the Depositor, each Other Depositor and any employee, director or officer
of the Depositor or any Other Depositor from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal
fees and expenses and related costs, judgments and any other costs, fees and expenses incurred by such indemnified party arising
out of (i) a breach of its obligations to provide any of the annual compliance statements or annual servicing criteria compliance
reports or attestation reports pursuant to the applicable sub-servicing agreement or (ii) negligence, bad faith or willful
misconduct its part in the performance of such obligations or (iii) any failure by a Servicing Party (as defined in Section
11.2(b)) to identify a Servicing Function Participant pursuant to Section 11.2(c).

 

If
the indemnification provided for in, or contemplated by, either of the prior two paragraphs is unavailable or insufficient to
hold harmless the Depositor, any Other Depositor or any employee, director or officer of the Depositor or any Other Depositor,
then the Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Additional Servicer or other Servicing
Function Participant (the “Performing Party”) shall contribute to the amount paid or payable to the indemnified
party as a result of the losses, claims, damages or liabilities of the indemnified party in such proportion as is appropriate
to reflect the relative fault of the indemnified party on the one hand and the Performing Party on the other in connection with
a breach of the Performing Party’s obligations pursuant to this Article 11 (or breach of its obligations under the
applicable sub-servicing agreement to provide any of the annual compliance statements or annual servicing criteria compliance
reports or attestation reports) or the Performing party’s negligence, bad faith or willful misconduct in connection therewith.

 

The
Servicer, the Special Servicer and the Certificate Administrator shall cause each Servicing Function Participant of such party
that is not a Sub-Servicer set forth on

 

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Exhibit V (and with respect to any Servicing Function Participant of such
party that is a Sub-Servicer set forth on Exhibit V, shall use commercially reasonable efforts to cause such Servicing
Function Participant) to agree to the foregoing indemnification and contribution obligations. This Section 11.12 shall
survive the termination of this Agreement or the earlier resignation or removal of the Servicer, the Special Servicer or the Certificate
Administrator.

 

Section 11.13. Amendments.
This Article 11 may be amended by the parties hereto pursuant to Section 10.1 of this Agreement for purposes
of complying with Regulation AB, the Act or the Exchange Act and/or to conform to standards developed within the commercial mortgage-backed
securities market and the Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates, Rating Agency Confirmations
or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this Agreement.

 

Section 11.14. Termination
of the Certificate Administrator. Notwithstanding anything to the contrary contained in this Agreement, the Depositor or any
Other Depositor may terminate the Certificate Administrator upon five Business Days’ notice if the Certificate Administrator
fails to comply with any of its obligations under this Article 11; provided that such termination shall not be effective
until a successor Certificate Administrator shall have accepted the appointment.

 

Section 11.15. Termination
of Sub-Servicing Agreements. For so long as any Other Securitization Trust is subject to the reporting requirements of the
Exchange Act, each of the Servicer, the Certificate Administrator and the Trustee, as applicable, shall (i) cause each Sub-Servicing
Agreement to which it is a party to entitle the Depositor or any Other Depositor to terminate such agreement (without compensation,
termination fee or the consent of any other Person) at any time following any failure of the applicable Sub-Servicer to any deliver
any Exchange Act reporting items that such Sub-Servicer is required to deliver under Regulation AB or as otherwise contemplated
by this Article 11 and (ii) promptly notify the Depositor and any Other Depositor following any failure of the applicable
Sub-Servicer to deliver any Exchange Act reporting items that such Sub-Servicer is required to deliver under Regulation AB or
as otherwise contemplated by this Article 11. The Depositor and any Other Depositor is hereby authorized to exercise the
rights described in clause (i) of the preceding sentence in its sole discretion. The rights of the Depositor and any Other Depositor
to terminate a Sub-Servicing Agreement as aforesaid shall not limit any right the Servicer, the Certificate Administrator or the
Trustee, as applicable, may have to terminate such Sub-Servicing Agreement.

 

Section 11.16. Notification
Requirements and Deliveries in Connection with Securitization of a Companion Loan. (a)  Any other provision of this
Article 11 to the contrary notwithstanding, including, without limitation, any deadlines for delivery set forth in this
Article 11, in connection with the requirements contained in this Article 11 that provide for the delivery of information
and other items to, and the cooperation with, the Other Depositor and Other Exchange Act Reporting Party of any Other Securitization
Trust that includes a Companion Loan, no party hereunder shall be obligated to provide any such items to or cooperate with such
Other Depositor or Other Exchange Act Reporting Party (i) until the Other Depositor or Other Exchange Act Reporting Party
of such Other Securitization Trust has provided each party hereto with not less than 30 days written notice (which shall only
be required to be delivered once), and each such party shall be entitled to rely on such notice, setting forth the contact information
for

 

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such Person(s) and, except as regards the deliveries and cooperation contemplated by Section 11.7, Section 11.8
and Section 11.9 of this Agreement, stating that such Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, and (ii) specifying in reasonable detail the information and other items not otherwise specified in
this Agreement that are requested to be delivered; provided that if Exchange Act reporting is being requested, such Other
Depositor or Other Exchange Act Reporting Party is only required to provide a single written notice to such effect. Any reasonable
cost and expense of the Servicer, Special Servicer, Trustee and Certificate Administrator in cooperating with such Other Depositor
or Other Exchange Act Reporting Party of such Other Securitization Trust (above and beyond their expressed duties hereunder) shall
be the responsibility of such Other Depositor or Other Securitization Trust. The parties hereto shall have the right to confirm
in good faith with the Other Depositor of such Other Securitization Trust as to whether applicable law requires the delivery of
the items identified in this Article 11 to such Other Depositor and Other Exchange Act Reporting Party of such Other Securitization
Trust prior to providing any of the reports or other information required to be delivered under this Article 11 in connection
therewith and (i) upon such confirmation, the parties shall comply with the deadlines for delivery set forth in this Article
11 with respect to such Other Securitization Trust or (ii) in the absence of such confirmation, the parties shall not
be required to deliver such items; provided that no such confirmation will be required in connection with any delivery
of the items contemplated by Section 11.7, Section 11.8 and Section 11.9 of this Agreement. Such confirmation
shall be deemed given if the Other Depositor or Other Exchange Act Reporting Party for the Other Securitization Trust provides
a written statement to the effect that the Other Securitization Trust is subject to the reporting requirements of the Exchange
Act and the appropriate party hereto receives such written statement. The parties hereunder shall also have the right to require
that such Other Depositor provide them with the contact details of such Other Depositor, Other Exchange Act Reporting Party and
any other parties to the Other Pooling and Servicing Agreement relating to such Other Securitization Trust.

 

(b)       Each
of the Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall, upon reasonable prior written request
given in accordance with the terms of Section 11.16(a) above, and subject to a right of the Servicer, Special Servicer,
the Certificate Administrator or Trustee, as the case may be, to review and approve such disclosure materials, permit the Companion
Loan Holder to use such party’s description contained in the Offering Circular (updated as appropriate by the Servicer,
the Special Servicer, Certificate Administrator or Trustee, as applicable, at the reasonable cost of the Other Depositor) for
inclusion in the disclosure materials relating to any securitization of a Companion Loan.

 

(c)       The
Servicer, the Special Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request given in
accordance with the terms of Section 11.16(a) above, shall each timely provide (to the extent the reasonable cost thereof
is paid or caused to be paid by the requesting party) to the Other Depositor and any underwriters with respect to any securitization
transaction that includes a Companion Loan such opinion(s) of counsel, certifications and/or indemnification agreement(s) with
respect to the updated description referred in Section 11.16(b) with respect to such party, substantially identical to
those, if any, delivered by the Servicer, the Special Servicer, the Trustee or the Certificate Administrator, as the case may
be, or their respective counsel, in connection with the information concerning such party in the Offering Circular and/or any
other disclosure materials relating to

 

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this Trust (updated as deemed appropriate by the Servicer, the Special Servicer, the Trustee
or the Certificate Administrator, or their respective legal counsel, as the case may be, and sufficient to comply with Regulation
AB). None of the Servicer, the Special Servicer, the Trustee or the Certificate Administrator shall be obligated to deliver any
such item with respect to the securitization of a Companion Loan if it did not deliver a corresponding item with respect to this
Trust.

 

Article
12

REMIC ADMINISTRATION

 

Section 12.1. REMIC
Administration. (a)  The parties intend that each of the Lower-Tier REMIC and the Upper-Tier REMIC shall
constitute, and that the affairs of each of the Lower-Tier REMIC and the Upper-Tier REMIC shall be conducted so as to qualify
it as, a REMIC, and the provisions hereof shall be interpreted consistently with this intention.

 

(b)       The
Certificate Administrator shall make or cause to be made an election on behalf of each of the Lower-Tier REMIC and the Upper-Tier
REMIC to treat the segregated pool of assets constituting such REMIC as a REMIC under the Code. Each such election shall be made
on IRS Form 1066 or other appropriate federal tax or information return for the taxable year ending on the last day of the calendar
year in which the Certificates are issued.

 

(c)       The
Closing Date is hereby designated as the “Startup Day” of each of the Lower-Tier REMIC and the Upper-Tier REMIC
within the meaning of Section 860G(a)(9) of the Code. The “latest possible maturity date” of the Regular Certificates
and the Uncertificated Lower-Tier Interests for the purposes of Section 860G(a)(1) of the Code is the date that is the Rated
Final Distribution Date.

 

(d)       The
Certificate Administrator shall prepare or cause to be prepared and timely produced to the Trustee to sign (and the Trustee shall
timely sign) and file or cause to be filed with the IRS, on behalf of each of the Lower-Tier REMIC and the Upper-Tier REMIC, an
application for a taxpayer identification number for such REMIC on IRS Form SS-4 or obtain such number by other permissible means.
Within thirty days of the Closing Date, the Certificate Administrator shall furnish or cause to be furnished to the IRS, on IRS
Form 8811 or as otherwise may be required by the Code, the name, title and address of the Persons that Holders of the Certificates
may contact for tax information relating thereto (and the Certificate Administrator shall act as the representative of each of
the Lower-Tier REMIC and the Upper-Tier REMIC for this purpose), together with such additional information as may be required
by such Form, and shall update such information at the time or times and in the manner required by the Code (and the Depositor
agrees within ten (10) Business Days of the Closing Date to provide any information reasonably requested by the Servicer or the
Certificate Administrator and necessary to make such filing). The Certificate Administrator shall be responsible for the preparation
of the related IRS Form W-9, if such form is requested. The Trustee shall be entitled to rely on the information contained therein,
and is hereby directed to execute such IRS Form W-9; provided, however, the Certificate Administrator shall also be directed
to execute such IRS Form W-9 (in lieu of the Trustee) if permitted by IRS regulations.

 

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(e)       The
Certificate Administrator shall pay without any right of reimbursement the ordinary and usual expenses in connection with the
preparation, filing and mailing of tax information reports and returns that are incurred by it in the ordinary course of its business,
but extraordinary or unusual expenses, costs or liabilities incurred in connection with its tax-related duties under this Agreement,
including without limitation any expenses, costs or liabilities associated with audits or any administrative or judicial proceedings
with respect to the Lower-Tier REMIC or the Upper-Tier REMIC that involve the IRS or state tax authorities, shall be reimbursable
from the Trust Fund.

 

(f)       The
Certificate Administrator shall prepare, or cause to be prepared, timely furnish or cause to be furnished to the Trustee to sign
(and the Trustee shall timely sign), and the Certificate Administrator shall file or cause to be filed all federal, state and
local income or franchise or other tax and information returns for each of the Lower-Tier REMIC and the Upper-Tier REMIC as the
direct representative for such REMIC. Except as provided in Section 12.1(e), the expenses of preparing and filing
such returns shall be borne by the Certificate Administrator. The Depositor shall provide on a timely basis to the Certificate
Administrator or its designee such information with respect to each of the Lower-Tier REMIC and the Upper-Tier REMIC as is in
its possession, and is reasonably requested by the Certificate Administrator to enable it to perform its obligations under this
subsection, and the Certificate Administrator shall be entitled to rely on such information in the performance of its obligations
hereunder.

 

(g)       The
Certificate Administrator shall perform on behalf of each of the Lower-Tier REMIC and the Upper-Tier REMIC all reporting and other
tax compliance duties that are the responsibility of such REMIC under the Code, the REMIC Provisions, or other compliance guidance
issued by the IRS or any state or local taxing authority. Among its other duties, the Certificate Administrator shall provide
(i) to the IRS or other Persons (including, but not limited to, the transferor of a Class R Certificate to a Disqualified
Organization or to an agent that has acquired a Class R Certificate on behalf of a Disqualified Organization) such information
as is necessary for the application of any tax relating to the transfer of a Class R Certificate to any Disqualified Organization
and (ii) to the Certificateholders such information or reports as are required by the Code or REMIC Provisions. The Depositor
shall provide on a timely basis (and in no event later than 30 days after the Certificate Administrator’s request) to the
Certificate Administrator or its designee such information with respect to each of the Lower-Tier REMIC and the Upper-Tier REMIC
as is in its possession and is reasonably requested in writing by the Certificate Administrator to enable it to perform its obligations
under this subsection.

 

(h)       The
Holder of the Class R Certificates holding the largest Percentage Interest therein shall be the Tax Matters Person pursuant
to Treasury Regulations Section 1.860F-4(d) and “partnership representative” (within the meaning of Section 6223
of the Code, to the extent such provision is applicable to the Trust REMICs) of the Upper-Tier REMIC and the Lower-Tier REMIC.
The duties of the Tax Matters Person and “partnership representative” for the Upper-Tier REMIC and the Lower-Tier
REMIC are hereby delegated to the Certificate Administrator as agent for the related Tax Matters Person, and the Class R
Certificateholders, by acceptance of the Class R Certificates, agree, on behalf of themselves and

 

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all successor holders of
such Class R Certificates, to such delegation to the Certificate Administrator as its agent and attorney in fact.

 

(i)       The
Certificate Administrator, the Holders of the Class R Certificates, the Servicer and the Special Servicer shall perform their
obligations under this Agreement and the REMIC Provisions in a manner consistent with the status of each of the Lower-Tier REMIC
and the Upper-Tier REMIC as a REMIC.

 

(j)       The
Certificate Administrator, any Holder of the Class R Certificates, the Servicer and the Special Servicer shall not take any
action or cause either the Lower-Tier REMIC or the Upper-Tier REMIC to take any action, within their respective control and the
scope of their specific respective duties under this Agreement that, under the REMIC Provisions, could reasonably be expected
to (i) cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or (ii) unless permitted
under Section 12.2(a), result in the imposition of a tax upon either the Lower-Tier REMIC or the Upper-Tier REMIC
(including but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax
on prohibited contributions as defined in Section 860G(d) of the Code (any such result in clause (i) or (ii),
an “Adverse REMIC Event”)) unless (A) the Certificate Administrator and the Servicer have received a Nondisqualification
Opinion (at the expense of the party seeking to take such action or of the Trust Fund if taken for the benefit of the Certificateholders)
with respect to such action or (B) the Certificate Administrator and the Servicer have received an opinion (at the expense
of the party seeking to take such action or of the Trust Fund if taken for the benefit of the Certificateholders) to the effect
that such action will not cause either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC and that no
tax will actually be imposed.

 

(k)       Any
and all federal, state and local taxes imposed on the Upper-Tier REMIC or the Lower-Tier REMIC or its assets or transactions,
including, without limitation, “prohibited transaction” taxes as defined in Section 860F of the Code, and any
tax on contributions imposed by Section 860G(d) of the Code, shall be paid from the Collection Account; provided that
the Servicer, upon two (2) days prior written notice, shall remit from the Collection Account to the Certificate Administrator
the amount of any such tax that the Certificate Administrator notifies the Servicer is due; provided, further, if
such taxes shall have been imposed on account of the willful misconduct, bad faith or negligence of any party hereto, or in connection
with the breach of any representation or warranty made by any party hereto in this Agreement, then such taxes shall be paid by
such party.

 

(l)       The
Certificate Administrator shall, for federal income tax purposes, maintain books and records with respect to the Lower-Tier REMIC
and the Upper-Tier REMIC on a calendar year and on an accrual basis. Notwithstanding anything to the contrary contained herein
or in the Loan Documents (but subject to Section 1.3), all amounts collected on the Trust Loan shall, for federal
income tax purposes, be allocated first to interest due and payable on the Trust Loan (including interest on overdue interest)
other than Default Interest. The books and records must be sufficient concerning the nature and amount of the investments of the
Lower-Tier REMIC and the Upper-Tier REMIC to show that such REMIC has complied with the REMIC Provisions.

 

    208

     

    

 

(m)       None
of the Certificate Administrator, the Trustee, the Servicer or the Special Servicer shall enter into any arrangement by which
either the Lower-Tier REMIC or the Upper-Tier REMIC will receive a fee or other compensation for services.

 

(n)       In
order to enable the Certificate Administrator to perform its duties as set forth herein, the Depositor shall provide, or cause
to be provided, to the Certificate Administrator within ten (10) days after the Closing Date, all information or data that the
Certificate Administrator reasonably determines to be relevant for tax purposes on the valuations and offering prices of the Certificates,
including, without limitation, the yield, issue prices, pricing prepayment assumption and projected cash flows of the Regular
Certificates and the Class R Certificates, as applicable, and the projected cash flows on the Trust Loan. Thereafter, the
Depositor, the Trustee, the Servicer and the Special Servicer shall provide to the Certificate Administrator, promptly upon request
therefor, any such additional information or data that the Certificate Administrator may, from time to time, reasonably request
in order to enable the Certificate Administrator to perform its duties as set forth herein. The Certificate Administrator is hereby
directed to use any and all such information or data provided by the Trustee, the Depositor, the Servicer and the Special Servicer
in the preparation of all federal, state or local income, franchise or other tax and information returns and reports for each
of the Lower-Tier REMIC and the Upper-Tier REMIC to Certificateholders as required herein. The Depositor hereby indemnifies the
Certificate Administrator for any losses, liabilities, damages, claims or expenses of the Certificate Administrator arising from
any errors or miscalculations of the Certificate Administrator pursuant to this Section 12.1 that result from any
failure of the Depositor to provide or to cause to be provided, accurate information or data to the Certificate Administrator
(but not resulting from the methodology employed by the Certificate Administrator) on a timely basis and such indemnifications
shall survive the termination of this Agreement and the termination of the Certificate Administrator.

 

The
Certificate Administrator agrees that all such information or data so obtained by it shall be regarded as confidential information
and agrees that it shall use its best reasonable efforts to retain in confidence, and shall ensure that its officers, employees
and representatives retain in confidence, and shall not disclose, without the prior written consent of the Depositor, any or all
of such information or data, or make any use whatsoever (other than for the purposes contemplated by this Agreement) of any such
information or data without the prior written consent of the Depositor, unless such information is generally available to the
public (other than as a result of a breach of this Section) or is required by law or applicable regulations to be disclosed.

 

Section 12.2. Foreclosed
Property. (a)  The parties hereto acknowledge and understand that if the Trust Fund were to acquire the
Property as Foreclosed Property and were to own and operate that Property in a manner consistent with the manner in which the
Property is currently owned and operated by the Loan Borrower, through a Successor Manager, some portion or all of the income
derived in the Lower-Tier REMIC from such Foreclosed Property may be considered “net income from foreclosure
property” for purposes of Section 860G(c) of the Code and subject to tax at normal corporate income tax
rates.

 

In
determining whether to acquire and hold any Foreclosed Property, the Special Servicer, acting on behalf of the Trustee hereunder,
shall take these circumstances into account

 

    209

     

    

 

and shall only acquire such Foreclosed Property if it determines, in its reasonable
judgment (after, consultation with counsel, at the expense of the Trust Fund), that either (i) there is a commercially feasible
alternative method of administering such Foreclosed Property that would not result in such tax, e.g., a net lease that results
in Rents from Real Property or (ii) the likely recovery with respect to operating the Foreclosed Property on behalf of the
Trust Fund and the Companion Loan Holders, after taking into account any such taxes that might be imposed on either the Lower-Tier
REMIC or the Upper-Tier REMIC, will exceed the likely recovery to the Trust Fund if the Trust Fund were to net lease the Foreclosed
Property or were not to acquire and hold the Foreclosed Property. If the Trust Fund acquires any Foreclosed Property, the Special
Servicer, acting on behalf of the Trustee, if the Manager would not be considered an Independent Contractor, shall either renegotiate
the applicable Management Agreement or replace the Manager with a Successor Manager (as appropriate and to the extent permitted
under such Management Agreement) so that the Foreclosed Property would be considered to be operated by an Independent Contractor.
If, after making the foregoing reasonable efforts, the Special Servicer determines that it is in the best interests of Certificateholders
and the Companion Loan Holders on a net after-tax basis to operate the Foreclosed Property in a manner such that the Lower-Tier
REMIC or Upper-Tier REMIC shall receive, based upon an Opinion of Counsel, “net income from foreclosure property”
under the REMIC Provisions, the Special Servicer shall maintain or cause to be maintained such records of income and expense as
to enable such amounts to be computed accurately, and shall pay or retain or cause to be paid or retained from Foreclosure Proceeds
such amounts as are necessary to pay such tax or, to the extent such amounts are insufficient, from the Collection Account pursuant
to Section 3.4.

 

Without
limiting the generality of the foregoing, the Special Servicer shall not, to the extent within its power:

 

(i)        permit
the Trust Fund to enter into, renew or extend any New Lease with respect to the Foreclosed Property, if the New Lease by its terms
will give rise to any income that does not constitute Rents from Real Property;

 

(ii)       permit
any amount to be received or accrued under any New Lease other than amounts that will constitute Rents from Real Property;

 

(iii)      authorize
or permit any construction on the Foreclosed Property, other than the completion of a building or other improvement thereon, and
then only if more than 10% of the construction of such building or other improvements was completed before default on the Trust
Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

 

(iv)      Directly
Operate, other than through an Independent Contractor, or allow any other Person to Directly Operate, other than through an Independent
Contractor, the Foreclosed Property on any date more than ninety (90) days after its acquisition date.

 

(b)       The
Special Servicer, acting on behalf of the Trustee hereunder, shall make reasonable efforts to sell the Foreclosed Property for
its fair market value in accordance with Section 3.15. In any event, however, the Special Servicer, acting on behalf
of the Trustee hereunder, shall dispose of any Foreclosed Property as soon as is practicable but in no event later

 

    210

     

    

 

than the close
of the third calendar year following the year in which the Acquisition Date occurs unless the Special Servicer, on behalf of the
Trustee, has received (or has not been denied) an extension of time (an “Extension”) by the IRS to sell such
Foreclosed Property or an opinion of counsel to the effect that the holding by the Trust of the Foreclosed Property for an additional
specified period will neither result in the imposition of taxes on “prohibited transactions” of the Trust Fund as
defined in Section 860F of the Code, nor cause the Upper-Tier REMIC or the Lower-Tier REMIC to fail to qualify as a REMIC
at any time that the Certificates are outstanding, in which event such period shall be extended by such additional specified period,
with the expenses of obtaining any such extension of time being an expense of the Trust Fund. If the Special Servicer, on behalf
of the Trustee, has received (or has not been denied) such Extension, then the Special Servicer, acting on behalf of the Trustee
hereunder, shall continue to attempt to sell the Foreclosed Property for its fair market value for such longer period as such
Extension permits (the “Extended Period”). If the Special Servicer, acting on behalf of the Trustee, has not
received such an Extension and the Special Servicer, acting on behalf of the Trustee hereunder, is unable to sell the Foreclosed
Property, within the foregoing period or if the Special Servicer, acting on behalf of the Trustee hereunder, has received such
an Extension, and the Special Servicer, acting on behalf of the Trustee hereunder, is unable to sell the Foreclosed Property within
the Extended Period, the Special Servicer shall, before the end of the above-referenced period or the Extended Period, as the
case may be, auction the Foreclosed Property to the highest bidder (which may be the Special Servicer) in accordance with Accepted
Servicing Practices.

 

(c)       Within
thirty (30) days of the sale of a Foreclosed Property, the Special Servicer shall provide to each of the Certificate Administrator
and the Trustee a statement of accounting for the Foreclosed Property, including, without limitation, (i) the date the related
Property was acquired in foreclosure or by deed in lieu of foreclosure, (ii) the date of disposition of such Foreclosed Property,
(iii) the gross sale price and related selling and other expenses, (iv) accrued interest calculated from the date of
acquisition to the disposition date, and (v) such other information as the Certificate Administrator and/or Trustee may reasonably
request.

 

Section 12.3. Prohibited
Transactions and Activities. The Special Servicer, on behalf of the Trust Fund, shall not permit the sale or disposition
of the Trust Loan at a time when the Trust Loan is not the subject of a breach of a representation or is not in default or
default with respect thereto is not reasonably foreseeable (except in a disposition pursuant to (i) the bankruptcy or
insolvency of the Lower-Tier REMIC or (ii) the termination of the Lower-Tier REMIC in a “qualified
liquidation” as defined in Section 860F(a)(4) of the Code), nor acquire any assets for either the Lower-Tier REMIC
or the Upper-Tier REMIC (other than Foreclosed Property), nor sell or dispose of any investments in the Collection Account or
Distribution Account for gain, nor receive any amount representing a fee or other compensation for services, nor accept any
contributions to either the Lower-Tier REMIC or the Upper-Tier REMIC (other than a cash contribution during the three-month
period beginning on the Startup Day), unless it has received an Opinion of Counsel (at the expense of the Person requesting
it to take such action) to the effect that such disposition, acquisition, substitution or acceptance will not (a) cause
either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or adversely affect the status of the
Regular Certificates as representing regular interests therein, (b) affect the distribution of interest or principal on
the Certificates, (c) result in the encumbrance of the assets transferred or assigned to either the Lower-Tier REMIC or
the Upper-Tier REMIC

 

    211

     

    

 

(except pursuant to the provisions of this Agreement), or (d) cause either the Lower-Tier REMIC or
the Upper-Tier REMIC to be subject to a tax on “prohibited transactions” or “prohibited
contributions” pursuant to the REMIC Provisions.

 

Section 12.4. Indemnification
with Respect to Certain Taxes and Loss of REMIC Status.

 

(a)       If
either the Lower-Tier REMIC or the Upper-Tier REMIC fails to qualify as a REMIC, loses its status as a REMIC, or incurs state
or local taxes, or a tax as a result of a prohibited transaction or contribution subject to taxation under the REMIC Provisions
due to the willful misconduct, bad faith or negligent performance by the Certificate Administrator of its duties and obligations
specifically set forth herein, or by reason of the Certificate Administrator’s negligent disregard of its obligations and
duties thereunder, the Certificate Administrator shall indemnify the Trust against any and all losses, claims, damages, liabilities
or expenses (“Losses”) resulting therefrom; provided, however, the Certificate Administrator
shall not be liable for any such Losses attributable to the action or inaction of the Servicer, the Special Servicer, the Depositor,
or the Holders of the Class R Certificates nor for any such Losses resulting from misinformation provided by the Holders
of the Class R Certificates, the Servicer, the Special Servicer, or the Depositor, on which the Certificate Administrator
has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of successor Holders of the Class R
Certificates at law or in equity.

 

If
either the Lower-Tier REMIC or the Upper-Tier REMIC fails to qualify as a REMIC, loses its status as a REMIC, or incurs state
or local taxes, or a tax as a result of a prohibited transaction or contribution subject to taxation under the REMIC Provisions
due to the willful misconduct, bad faith or negligent performance of the Servicer or the Special Servicer of its duties and obligations
set forth herein, or by reason of the Servicer’s or Special Servicer’s negligent disregard of its obligations and
duties thereunder, the Servicer or the Special Servicer, as the case may be, shall indemnify the Trust Fund against any and all
Losses resulting therefrom; provided, however, the Servicer or the Special Servicer, as the case may be, shall not
be liable for any such Losses attributable to the action or inaction of the Certificate Administrator, the Depositor, the Holders
of the Class R Certificates nor for any such losses resulting from misinformation provided by the Certificate Administrator,
the Depositor or the Holders of the Class R Certificates on which the Servicer or the Special Servicer, as the case may be,
has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of any successor Holders of the Class R
Certificates at law or in equity.

 

[signature
pageS follow]

 

    212

     

    

 

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

	 	 	 
	 	GS MORTGAGE SECURITIES CORPORATION II, as
Depositor
	 	 	 
	 	By:	/s/ Leah Nivison
	 	 	Name:  Leah Nivison
	 	 	Title:    Chief Executive Officer
	 	 	 
	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK,
NATIONAL ASSOCIATION, as Servicer
	 	 	 
	 	By:	/s/ Bradley J. Hauger
	 	 	Name:  Bradley J. Hauger
	 	 	Title:    Senior Vice President
	 	 	 
	 	AEGON USA REALTY ADVISORS, LLC, as Special
Servicer
	 	 	 
	 	By:	/s/ David C. Feltman
	 	 	Name:  David C. Feltman
	 	 	Title:    Executive Vice President

 

VNDO 2016-350P – Trust and Servicing
Agreement

 

    

     

    

 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Trustee
	 	 	 
	 	By:	/s/ Michael J. Baker
	 	 	Name: Michael J. Baker
	 	 	Title:   Vice President
	 	 	 

		WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Certificate Administrator
	 	 	 
	 	By:	/s/ Michael J. Baker
	 	 	Name: Michael J. Baker
	 	 	Title:   Vice President

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

	STATE
OF New York	)
	 	)     ss:
	COUNTY OF New York	)

 

On this 19 day of December
2016, before me, the undersigned, a Notary Public in and for the State of New York, duly commissioned and sworn, personally
appeared Leah Nivision, to me known who, by me duly sworn, did depose and acknowledge before me and say that s/he resides at
200 west Street, NYC; that s/he is the CEO of GS Mortgage Securities Corporation II, a
Delaware corporation, the entity described in and that executed the foregoing instrument; and that s/he signed her/his name
thereto under authority of the board of directors of said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed
the day and year first above written.

	 	 	 
	 	 	/s/ Beatrice A Viola
	 		NOTARY PUBLIC in and for the 

State of _______________
	 	 	 
	 	 	 
	My Commission expires:	 	Beatrice A Viola
		 	Notary Public - State of New York
	 	 	NO. 01VI4735787
	 	 	Qualified in New York County
	 	 	My Commission Expires 12/31/17

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

	STATE
OF KANSAS	)
	 	)      ss:
	COUNTY OF JOHNSON	)

 

On this 15th day of December 2016, before me, the undersigned, a Notary Public in and for the State of
Kansas, duly commissioned and sworn, personally appeared Bradley J. Hauger, to me known who, by me duly sworn, did depose and acknowledge
before me and say that he is a Senior Vice President of Midland Loan Services, a Division of PNC Bank, National Association, a
national banking association, the entity described in and that executed the foregoing instrument; and that he signed his name thereto
under authority of the board of directors of said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed
the day and year first above written.

	 	 	 
	 	 	/s/ Brent Kinder
	 		NOTARY PUBLIC in and for the 

State of Kansas
	 	 	 
	 	 	 
		 	Brent Kinder
		 	Notary Public - State of Kansas
	 	 	My  Appt. Exp. June 30, 2018

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

	STATE
OF Iowa	)
	 	)     ss:
	COUNTY OF Linn	)

 

On this 16th day
of December 2016, before me, the undersigned, a Notary Public in and for the State of Iowa, duly commissioned and
sworn, personally appeared David C. Feltman, to me known who, by me duly sworn, did depose and acknowledge before me and say that
s/he resides at ST. PETERSBURG, Florida; that s/he is the Executive Vice President of AEGON USA Realty Advisors,
LLC, an Iowa limited liability company, the entity described in and that executed the foregoing instrument; and that s/he
signed her/his name thereto under authority of the board of directors of said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed
the day and year first above written.

	 	 	 
	Rebecca Johnson	 	/s/ Rebecca Johnson
	Commission Number 782312

My Commission Expires 
 January 23, 2017		NOTARY PUBLIC in and for the 

State of Iowa
	 	 	 
	[SEAL]	 	 
	 	 	 
	My Commission expires:	 	
	 	 	 
	01.23.2017	 	

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

	State
of: Maryland	)
	 	)     ss:
	County of: Howard	)

 

On the 15th day of December, 2016, before me,
a notary public in and for said State, personally appeared Michael Baker, known to me to be a Vice President of Wells Fargo Bank,
N.A., one of the corporations that executed the within instrument, and also know to me to be the person who executed it on behalf
of said corporation, and acknowledged to me that such corporation executed the within instrument.

 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this
certificate first above written.

 

	COLIN A CASTRO	 	/s/ Colin A Castro
	FREDERICK COUNTY, MD	 	Notary Public
	Notary Public	 	 
	My Commission expires	 	 
	MARCH 24, 2019	 	 

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

	State
of: Maryland	)
	 	)     ss:
	County of: Howard	)

 

On the 15th day of December, 2016, before me,
a notary public in and for said State, personally appeared Michael Baker, known to me to be a Vice President of Wells Fargo Bank,
N.A., one of the corporations that executed the within instrument, and also know to me to be the person who executed it on behalf
of said corporation, and acknowledged to me that such corporation executed the within instrument.

 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this
certificate first above written.

 

	COLIN A CASTRO	 	/s/ Colin A Castro
	FREDERICK COUNTY, MD	 	Notary Public
	Notary Public	 	 
	My Commission expires	 	 
	MARCH 24, 2019	 	 

 

VNDO
2016-350P – Trust and Servicing Agreement

 

    

     

    

 

EXHIBIT
A-1

 

FORM
OF CLASS A CERTIFICATES

 

CLASS
A

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY
INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST
HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN
HOLDER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE

 

 

 

1
Temporary Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

     Exhibit A-1-1

     

    

 

CERTIFICATE
ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE
TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S.
PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE
904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
“ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES
ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”),
OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH
PERSON IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND

 

     Exhibit A-1-2

     

    

 

EXCHANGE
COMMISSION UNDER THE SECURITIES ACT OF 1933, AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON
WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE
CODE (OR A NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

     Exhibit A-1-3

     

    

 

VNDO
TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS A

 

	Pass-Through Rate: 3.80500%	 
	 	 
	First Distribution Date: January 12, 2017	 
	 	 
	Aggregate Initial Certificate Balance of the	Rated Final Distribution Date: January 2035
	Class A Certificates: $94,018,000	 
	 	Initial Certificate Balance of this
	CUSIP: 	91831U AA54

    U92377 AA55

    91831U AJ66	Certificate: 	$[______][QIB]

     $[______][Reg S]

     $[______][IAI]
	 	 	 	 
	ISIN: 	US91831UAA517

    USU92377AA528

    US91831UAJ609	 
	 	 	 
	[Common Code: 154104003]10	 
	 	 
	No.: A-[1]	 

 

This
certifies that [Cede & Co.]11 is the registered owner of the Percentage Interest evidenced by this Certificate
in the distributions to be made from a Trust Fund with respect to the Class A Certificates. The Trust Fund consists primarily
of four notes secured by certain Collateral held in trust by the Certificate Administrator on behalf of the Trustee issued by
a special purpose entity evidencing a portion of a fixed rate loan (the “Trust Loan”). The Trust Fund was created,
and the Trust Loan is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate,
by virtue of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is
bound thereby. Also issued under the Trust and Servicing Agreement are the Class X-A, Class B, Class C, Class D, Class E and Class
R Certificates (collectively with the Class A Certificates,

 

 

4
For Rule 144A Certificates.

 

5
For Regulation S Certificates.

 

6
For IAI Certificates.

 

7
For Rule 144A Certificates.

 

8
For Regulation S Certificates.

 

9
For IAI Certificates.

 

10
For Regulation S Certificates.

 

11For Global Certificate
only.

 

     Exhibit A-1-4

     

    

 

the
“Certificates”; the Holders of Certificates issued under the Trust and Servicing Agreement are collectively
referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit,” as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant
to the terms of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after
each Determination Date, commencing in January 2017 (each such date, a “Distribution Date”), to the Person
in whose name this Certificate is registered as of the related Record Date, which will be the close of business on the last Business
Day of the month preceding the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s
pro rata share (based on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal
and interest, any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class A Certificates
for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All
distributions will be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor
in the Certificate Register or, provided that the Certificate Administrator has received appropriate wire transfer instructions,
at least five Business Days prior to the related Distribution Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity located in the United States and having appropriate facilities therefor. The
final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the location that is specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Trust
Loan, as more specifically set forth herein and in the Trust and Servicing Agreement.

 

This
Certificate does not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

As
provided in the Trust and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for
registration of transfer of any Certificate, the

 

     Exhibit A-1-5

     

    

 

Certificate
Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one or more new Certificates
in authorized denominations, in like aggregate interest and of the same Class.

 

Prior
to due presentation of this Certificate for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator
or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate
for the purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever,
and none of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any
agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar shall be
affected by any notice to the contrary.

 

The
Trust and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee, without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances
specified in the Trust and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders
of Certificates of each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates,
except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the Trust
Loan that are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing payments
of the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted Servicing
Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required to consent
to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative without
the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust and Servicing
Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes in any manner
the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and the Trustee,
the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and Servicing Agreement.
In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer, the Special Servicer
and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party requesting the amendment,
or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the amendment is authorized or
permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power granted to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the

 

     Exhibit A-1-6

     

    

 

Trustee
or any other specified person in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The
Trust and Servicing Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer,
the Certificate Administrator, the Depositor and the Trustee created thereby with respect to the Certificates (other than the
obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution Date and
other than the indemnification rights and obligations of the parties thereto) shall terminate upon the last action required to
be taken by the Certificate Administrator on the final Distribution Date pursuant to Article 9 of the Trust and Servicing
Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation of the Trust Loan (including,
without limitation, the sale of the Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or abandonment
of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall the Trust
continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late
ambassador of the United States to the Court of St. James’s, living on the date of execution of the Trust and Servicing
Agreement.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing
Agreement or be valid for any purpose.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

     Exhibit A-1-7

     

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed. 

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, 

    not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

Certificate
of Authentication

 

This
is one of the Class A Certificates referred to in the Trust and Servicing Agreement.

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

     Exhibit A-1-8

     

    

 

SCHEDULE
A

 

SCHEDULE
OF EXCHANGES

 

The
following payments of principal and exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global
Certificate] [Regulation S Global Certificate] [Definitive Certificate] have been made:

 

	Date
                                         of 

                                         Exchange or 

                                         Payment of 

                                         Principal

        
	 	Certificate

                                         Balance Prior

                                         to Exchange

                                         or Payment

        
	 	Certificate

                                         Balance

                                         Exchanged or

                                         Principal

                                         Payment

                                         Made

        
	 	Type
                                         of

                                         Certificate

                                         Exchanged for

        
	 	Remaining

                                         Certificate

                                         Balance

                                         Following

                                         Such

                                         Exchange or

                                         Payment

        
	 	Notation

                                         Made by

        

	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

     Exhibit A-1-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address: 

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature
    by or on behalf of Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer
    Identification Number:  _________

 

     Exhibit A-1-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:

_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent. 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

  

     Exhibit A-1-11

     

    

 

EXHIBIT
A-2

 

FORM
OF CLASS X-A CERTIFICATES

 

CLASS
X-A

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY
INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST
HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN
HOLDER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE 

 

 

 

1
Temporary Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

     Exhibit A-2-1

     

    

 

CERTIFICATE
ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE
TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

THE
NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS A
CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT.

 

THIS
CLASS X-A CERTIFICATE WILL NOT BE ENTITLED TO RECEIVE DISTRIBUTIONS OF PRINCIPAL.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S.
PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE
904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING
OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
“ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES
ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES
OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”),
OR ANY PERSON ACTING ON BEHALF OF 

 

     Exhibit A-2-2

     

    

 

ANY
SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AND (B)
THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR A NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D. 

 

     Exhibit A-2-3

     

    

 

VNDO
TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS X-A

 

	Pass-Through Rate: Variable IO4	 
	 	 
	First Distribution Date: January 12, 2017	 
	 	 
	Aggregate Initial Notional Amount of the	Rated Final Distribution Date: January 2035
	Class X-A Certificates: $94,018,000	 
	 	Initial Notional Amount of this
	CUSIP:	 91831U AB35

    U92377 AB36

    91831U AK37	Certificate: 	$[______][QIB]

     $[______][Reg S]

     $[______][IAI]
	 	 	 	 
	ISIN: 	US91831UAB358

    USU92377AB369

    US91831UAK3410	 
	 	 	 
	[Common Code: 154138927]11	 
	 	 
	No.: X-A-[1]	 

 

This
certifies that [Cede & Co.]12 is the registered owner of the Percentage Interest evidenced by this Certificate
in the distributions to be made from a Trust Fund with respect to the Class X-A Certificates. The Trust Fund consists primarily
of four notes secured by certain Collateral held in trust by the Certificate Administrator on behalf of the Trustee issued by
a special purpose entity evidencing a portion of a fixed rate loan (the “Trust Loan”). The Trust Fund was created,
and the Trust Loan is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate,
by virtue of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is
bound thereby. Also issued under the Trust and Servicing Agreement are the Class A, Class

 

 

 

4
The initial Pass-Through Rate on the Class X-A Certificates is 0.09763%.

 

5 For
Rule 144A Certificates.

 

6
For Regulation S Certificates.

 

7
For IAI Certificates.

 

8
For Rule 144A Certificates.

 

9
For Regulation S Certificates.

 

10
For IAI Certificates.

 

11
For Regulation S Certificates.

 

12 For
Global Certificate only.

 

     Exhibit A-2-4

     

    
 

B, Class C, Class D, Class E and Class R Certificates (collectively with the Class X-A Certificates, the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit,” as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant
to the terms of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after
each Determination Date, commencing in January 2017 (each such date, a “Distribution Date”), to the Person
in whose name this Certificate is registered as of the related Record Date, which will be the close of business on the last Business
Day of the month preceding the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s
pro rata share (based on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest,
any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class X-A Certificates for such Distribution
Date, all as more fully described in the Trust and Servicing Agreement.

 

All
distributions will be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor
in the Certificate Register or, provided that the Certificate Administrator has received appropriate wire transfer instructions,
at least five Business Days prior to the related Distribution Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity located in the United States and having appropriate facilities therefor. The
final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the location that is specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Trust
Loan, as more specifically set forth herein and in the Trust and Servicing Agreement.

 

This
Certificate does not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

     Exhibit A-2-5

     

    

 

As
provided in the Trust and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for
registration of transfer of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Certificates in authorized denominations, in like aggregate interest
and of the same Class.

 

Prior
to due presentation of this Certificate for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator
or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate
for the purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever,
and none of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any
agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar shall be
affected by any notice to the contrary.

 

The
Trust and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee, without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances
specified in the Trust and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders
of Certificates of each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates,
except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the Trust
Loan that are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing payments
of the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted Servicing
Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required to consent
to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative without
the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust and Servicing
Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes in any manner
the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and the Trustee,
the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into any amendment
to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional liability
for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and Servicing Agreement.
In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer, the Special Servicer
and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party requesting the amendment,
or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the amendment is authorized or
permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power

 

     Exhibit A-2-6

     

    

 

granted
to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the Trustee or any other specified person
in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The
Trust and Servicing Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer,
the Certificate Administrator, the Depositor and the Trustee created thereby with respect to the Certificates (other than the
obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution Date and
other than the indemnification rights and obligations of the parties thereto) shall terminate upon the last action required to
be taken by the Certificate Administrator on the final Distribution Date pursuant to Article 9 of the Trust and Servicing
Agreement following the later of (i) the final payment on the Certificates or (ii) the liquidation of the Trust Loan (including,
without limitation, the sale of the Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or abandonment
of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall the Trust
continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late
ambassador of the United States to the Court of St. James’s, living on the date of execution of the Trust and Servicing
Agreement.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing
Agreement or be valid for any purpose.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

     Exhibit A-2-7

     

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed. 

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, 

    not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

Certificate
of Authentication

 

This
is one of the Class X-A Certificates referred to in the Trust and Servicing Agreement.

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

     Exhibit A-2-8

     

    

 

SCHEDULE
A

 

SCHEDULE
OF EXCHANGES

 

The
following exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S
Global Certificate] [Definitive Certificate] have been made:

 

	Date
                                         of

                                         Exchange

        
	 	

                                         

                                         Notional

                                         Amount 

                                         Prior to

        Exchange

        
	 	Notional
                                         

                                         Amount 

                                         Exchanged

        
	 	Type
                                         of

                                         Certificate

                                         Exchanged 

                                         for

        
	 	Remaining
    

    Notional 

    Amount 

    Following

    Such 

    Exchange
        
	 	Notation

                                         Made by

        

	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

     Exhibit A-2-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address:

 

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature
    by or on behalf of Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer
    Identification Number:  _________

 

     Exhibit A-2-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:

_____________________________________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ________________________________________________
as its (their) agent.

 

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

     Exhibit A-2-11

     

    

 

EXHIBIT
A-3

 

FORM OF CLASS B CERTIFICATES

 

CLASS B

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL
CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).
NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED
UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE
BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS
OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN HOLDER, THE SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE 

 

 

 

1
Temporary Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

    	 	 Exhibit A-3-1	 

     

    

 

CERTIFICATE ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”),
OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE
TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES
ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE “ACCREDITED INVESTORS”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN
EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CLASS B CERTIFICATE IS SUBORDINATED TO THE
CLASS A CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO SECTION 406 OF ERISA OR SECTION

 

    	 	 Exhibit A-3-2	 

     

    

 

4975 OF THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF
OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED INVESTOR”
AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AND (B)
THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT
PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE (OR A NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1)
AND 860D.

 

    	 	 Exhibit A-3-3	 

     

    

 

VNDO TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS B

 

	Pass-Through Rate: The Net Trust Loan Rate4	 
	 	 
	First Distribution Date: January 12, 2017	 
	 	 
	Aggregate Initial Certificate Balance of the Class B Certificates:  $20,893,000	Rated Final Distribution Date: January 2035
	 	 
	CUSIP:      91831U AD95

                   U92377 AD96

                   91831U AM97	Initial Certificate Balance of this

Certificate:  $[______][QIB]

                     $[______][Reg S]

                     $[______][IAI]
	 	 
	ISIN:          US91831UAD908

                   USU92377AD919

                   US91831UAM9910	 
	 	 
	[Common Code: 154104348]11	 
	 	 
	No.:  B-[1]	 

 

This certifies that [Cede & Co.]12
is the registered owner of the Percentage Interest evidenced by this Certificate in the distributions to be made from a Trust Fund
with respect to the Class B Certificates. The Trust Fund consists primarily of four notes secured by certain Collateral held
in trust by the Certificate Administrator on behalf of the Trustee issued by a special purpose entity evidencing a portion of a
fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan is to be serviced, pursuant
to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby. Also issued under the Trust
and Servicing Agreement are the Class A, Class

 

 

 

4 The initial approximate Pass-Through Rate as of the Closing date is 3.90263%.

 

5
For Rule 144A Certificates.

 

6
For Regulation S Certificates.

 

7
For IAI Certificates.

 

8
For Rule 144A Certificates.

 

9
For Regulation S Certificates.

 

10
For IAI Certificates.

 

11
For Regulation S Certificates.

 

12
For Global Certificate only.

 

    	 	 Exhibit A-3-4	 

     

    

 

X-A, Class C, Class D, Class E and Class R Certificates (collectively with the Class B
Certificates, the “Certificates”; the Holders of Certificates issued under the Trust and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued pursuant
to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and
Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National
Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized terms used herein shall have
the meanings assigned thereto in the Trust and Servicing Agreement.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit,” as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant to the terms of the Trust
and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination Date,
commencing in January 2017 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last Business Day of the month preceding
the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest,
any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class B Certificates for such Distribution
Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will be made to the
Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate Register or,
provided that the Certificate Administrator has received appropriate wire transfer instructions, at least five Business Days prior
to the related Distribution Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the location that is specified by
the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically set forth
herein and in the Trust and Servicing Agreement.

 

This Certificate does not purport to
summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests, rights,
benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of the Certificate
Administrator.

 

    	 	 Exhibit A-3-5	 

     

    

 

As provided in the Trust and Servicing
Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer of any Certificate,
the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation of this Certificate
for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar,
and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar may
treat the Person in whose name any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions
as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and none of the Trustee, the Servicer,
the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any agent of the Trustee, the Servicer, the
Special Servicer, the Certificate Administrator or the Certificate Registrar shall be affected by any notice to the contrary.

 

The Trust and Servicing Agreement may
be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee,
without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances specified in the Trust
and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the Depositor, the Servicer,
the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders of Certificates of
each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate Percentage Interests
constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates, except that the
amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the Trust Loan that
are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing payments of
the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted Servicing
Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required to
consent to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative
without the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust
and Servicing Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes
in any manner the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into
any amendment to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional
liability for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and Servicing Agreement.
In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer, the Special Servicer
and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party requesting the amendment,
or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the amendment is authorized or
permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power

 

    	 	 Exhibit A-3-6	 

     

    

 

granted to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the Trustee or any other
specified person in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The Trust and Servicing Agreement provides
that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Certificate Administrator, the
Depositor and the Trustee created thereby with respect to the Certificates (other than the obligation of the Certificate Administrator
to make certain payments to Certificateholders after the final Distribution Date and other than the indemnification rights and
obligations of the parties thereto) shall terminate upon the last action required to be taken by the Certificate Administrator
on the final Distribution Date pursuant to Article 9 of the Trust and Servicing Agreement following the later of (i) the
final payment on the Certificates or (ii)  the liquidation of the Trust Loan (including, without limitation, the sale of the
Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or abandonment of the Property and all other Collateral
for the Whole Loan; provided, however, that in no event shall the Trust continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the
Court of St. James’s, living on the date of execution of the Trust and Servicing Agreement.

 

Unless the Certificate of Authentication
on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent, by manual
signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid for any purpose.

 

The Certificate Administrator makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates or
the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    	 	 Exhibit A-3-7	 

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Certificate to be duly executed.

 

Dated: December 23, 2016

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

Certificate of Authentication

 

This is one of the Class B Certificates
referred to in the Trust and Servicing Agreement.

 

Dated: December 23, 2016 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

    	 	 Exhibit A-3-8	 

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and exchanges of
a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] [Definitive
Certificate] have been made:

 

	
        Date
        of 

Exchange or 

Payment of 

Principal

        
	 	
        Certificate

Balance Prior

to Exchange

or Payment

        
	 	
        Certificate

Balance

Exchanged or

Principal

Payment

Made

        
	 	
        Type
        of

Certificate

Exchanged for

        
	 	
        Remaining

Certificate

Balance

Following

Such

Exchange or

Payment

        
	 	
        Notation

Made by

        

	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

    	 	 Exhibit A-3-9	 

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned
(“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________ (please
print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”) the
entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such interest
to Assignee(s) on the Certificate Register of the Trust.

 

I (we) further direct the Certificate
Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to the above-named
Assignee(s) and to deliver such Certificate to the following address:

 

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature by or on behalf of Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer Identification Number:  _________

 

    	 	 Exhibit A-3-10	 

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
___________________________________________.

 

Distributions, if being made by wire transfer in immediately available funds, to ____________________________ for the account
of ____ ______________________ account number ____________________.

 

This information is provided by _______________________________________
the Assignee(s) named above, or ____________ ______________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    	 	 Exhibit A-3-11	 

     

    

 

EXHIBIT A-4

 

FORM OF CLASS C CERTIFICATES

 

CLASS C

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL
CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).
NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED
UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE
BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS GLOBAL CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN HOLDER, THE SERVICER, THE SPECIAL SERVICER,
THE TRUSTEE, THE

 

 

 

1 Temporary
Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

    	 	 Exhibit A-4-1	 

     

    

 

CERTIFICATE ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”),
OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE
TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES
ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE “ACCREDITED INVESTORS”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN
EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CLASS C CERTIFICATE IS SUBORDINATED TO THE
CLASS A AND CLASS B CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS
DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT,
SIMILAR TO SECTION 406 OF ERISA OR SECTION

 

    	 	 Exhibit A-4-2	 

     

    

 

4975 OF THE CODE (“SIMILAR
LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE,
UNLESS (A) SUCH PERSON IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES
AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AND (B) THE ACQUISITION, HOLDING AND DISPOSITION OF THE CERTIFICATES
BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION
4975 OF THE CODE (OR A NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1)
AND 860D.

 

    	 	 Exhibit A-4-3	 

     

    

 

VNDO TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS C

 

	Pass-Through Rate: The Net Trust Loan Rate4	 
	 	 
	First Distribution Date: January 12, 2017	 
	 	 
	Aggregate Initial Certificate Balance of the Class C Certificates:  $14,409,000	Rated Final Distribution Date: January 2035
	 	 
	CUSIP:      91831U AE75

                   U92377 AE76

                   91831U AN77	Initial Certificate Balance of this

Certificate:$[______][QIB]

                   $[______][Reg S]

                   $[______][IAI]
	 	 
	ISIN:          US91831UAE738

                   USU92377AE749

                   US91831UAN7210	 
	 	 
	[Common Code: 154104917]11	 
	 	 
	No.:  C-[1]	 

 

This certifies that [Cede & Co.]12
is the registered owner of the Percentage Interest evidenced by this Certificate in the distributions to be made from a Trust Fund
with respect to the Class C Certificates. The Trust Fund consists primarily of four notes secured by certain Collateral held
in trust by the Certificate Administrator on behalf of the Trustee issued by a special purpose entity evidencing a portion of a
fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan is to be serviced, pursuant
to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby. Also issued under the Trust
and Servicing Agreement are the Class A, Class

 

 

 

 

4 The
initial approximate Pass-Through Rate as of the Closing date is 3.90263%.

 

5
For Rule 144A Certificates.

 

6
For Regulation S Certificates.

 

7
For IAI Certificates.

 

8
For Rule 144A Certificates.

 

9
For Regulation S Certificates.

 

10
For IAI Certificates.

 

11
For Regulation S Certificates.

 

12
For Global Certificate only.

 

    	 	 Exhibit A-4-4	 

     

    

 

X-A, Class B, Class D, Class E and Class R Certificates (collectively with the Class C
Certificates, the “Certificates”; the Holders of Certificates issued under the Trust and Servicing Agreement
are collectively referred to herein as “Certificateholders”).

 

This Certificate is issued pursuant
to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and
Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National
Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized terms used herein shall have
the meanings assigned thereto in the Trust and Servicing Agreement.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit,” as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant to the terms of the Trust
and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after each Determination Date,
commencing in January 2017 (each such date, a “Distribution Date”), to the Person in whose name this Certificate
is registered as of the related Record Date, which will be the close of business on the last Business Day of the month preceding
the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest,
any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class C Certificates for such Distribution
Date, all as more fully described in the Trust and Servicing Agreement.

 

All distributions will be made to the
Persons entitled thereto by check mailed by first class mail to the address set forth therefor in the Certificate Register or,
provided that the Certificate Administrator has received appropriate wire transfer instructions, at least five Business Days prior
to the related Distribution Date, by wire transfer of immediately available funds to the account of such Certificateholder at a
bank or other entity located in the United States and having appropriate facilities therefor. The final distribution on each Certificate
shall be made in like manner, but only upon presentment and surrender of such Certificate at the location that is specified by
the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically set forth
herein and in the Trust and Servicing Agreement.

 

This Certificate does not purport to
summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests, rights,
benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of the Certificate
Administrator.

 

    	 	 Exhibit A-4-5	 

     

    

 

As provided in the Trust and Servicing
Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for registration of transfer of any Certificate,
the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

Prior to due presentation of this Certificate
for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar,
and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar may
treat the Person in whose name any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions
as provided in the Trust and Servicing Agreement and for all other purposes whatsoever, and none of the Trustee, the Servicer,
the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any agent of the Trustee, the Servicer, the
Special Servicer, the Certificate Administrator or the Certificate Registrar shall be affected by any notice to the contrary.

 

The Trust and Servicing Agreement may
be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee,
without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances specified in the Trust
and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the Depositor, the Servicer,
the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders of Certificates of
each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate Percentage Interests
constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates, except that the
amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the Trust Loan that
are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing payments of
the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted Servicing
Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required to
consent to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative
without the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust
and Servicing Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes
in any manner the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into
any amendment to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any additional
liability for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and Servicing Agreement.
In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer, the Special Servicer
and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party requesting the amendment,
or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the amendment is authorized or
permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that the amendment or the exercise
of any power

 

    	 	 Exhibit A-4-6	 

     

    

 

granted to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the Trustee or any other
specified person in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The Trust and Servicing Agreement provides
that the respective obligations and responsibilities of the Servicer, the Special Servicer, the Certificate Administrator, the
Depositor and the Trustee created thereby with respect to the Certificates (other than the obligation of the Certificate Administrator
to make certain payments to Certificateholders after the final Distribution Date and other than the indemnification rights and
obligations of the parties thereto) shall terminate upon the last action required to be taken by the Certificate Administrator
on the final Distribution Date pursuant to Article 9 of the Trust and Servicing Agreement following the later of (i) the
final payment on the Certificates or (ii)  the liquidation of the Trust Loan (including, without limitation, the sale of the
Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or abandonment of the Property and all other Collateral
for the Whole Loan; provided, however, that in no event shall the Trust continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the
Court of St. James’s, living on the date of execution of the Trust and Servicing Agreement.

 

Unless the Certificate of Authentication
on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent, by manual
signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid for any purpose.

 

The Certificate Administrator makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates or
the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement.

 

    	 	 Exhibit A-4-7	 

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Certificate to be duly executed.

 

Dated: December 23, 2016

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

 

Certificate of Authentication

 

This is one of the Class C Certificates
referred to in the Trust and Servicing Agreement.

 

Dated: December 23, 2016

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION,

not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

    	 	 Exhibit A-4-8	 

     

    

 

SCHEDULE A

 

SCHEDULE OF EXCHANGES

 

The following payments of principal and exchanges of
a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global Certificate] [Regulation S Global Certificate] [Definitive
Certificate] have been made:

 

	
        Date
        of 

Exchange or 

Payment of 

Principal

        
	 	
        Certificate

Balance Prior

to Exchange

or Payment

        
	 	
        Certificate

Balance

Exchanged or

Principal

Payment

Made

        
	 	
        Type
        of

Certificate

Exchanged for

        
	 	
        Remaining

Certificate

Balance

Following

Such

Exchange or

Payment

        
	 	
        Notation

Made by

        

	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 

    	 	 Exhibit A-4-9	 

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED,
the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto
______ ____________________________________ (please print or typewrite name(s) and address(es), including postal zip code(s)
of assignee(s)) (“Assignee(s)”) the entire Percentage Interest represented by the within Certificate and
hereby authorize(s) the registration of transfer of such interest to Assignee(s) on the Certificate Register of the
Trust.

 

I (we) further direct
the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the within Certificate to
the above-named Assignee(s) and to deliver such Certificate to the following address:

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature by or on behalf of Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer Identification Number:  _________

 

 

    	 	 Exhibit A-4-10	 

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The Assignee(s) should
include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions:
____________________________ _______________.

 

Distributions, if being made by wire transfer in immediately available funds, to ____________________________ for the account
of ____ ______________________ account number ____________________.

 

This information is provided by _______________________________________
the Assignee(s) named above, or ____________ ______________________________ as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:

 

    	 	 Exhibit A-4-11	 

     

    

 

EXHIBIT
A-5

 

FORM
OF CLASS D CERTIFICATES

 

CLASS D

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY
INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST
HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN
HOLDER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE

 

 

 

1
Temporary Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

    	Exhibit A-5-1 

     

    

 

CERTIFICATE
ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE
TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”
WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER
HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION
THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH
ALL OF THE EQUITY OWNERS ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS
CLASS D CERTIFICATE IS SUBORDINATED TO THE CLASS A, CLASS B AND CLASS C CERTIFICATES AS AND TO THE EXTENT
SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO SECTION 406 OF ERISA OR SECTION

 

    	Exhibit A-5-2 

     

    

 

4975
OF THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN
TO ACQUIRE THIS CERTIFICATE, UNLESS (A) SUCH PERSON IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION
D OF THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AND (B) THE ACQUISITION, HOLDING AND DISPOSITION
OF THE CERTIFICATES BY SUCH PERSON WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION
406 OF ERISA OR SECTION 4975 OF THE CODE (OR A NON-EXEMPT VIOLATION OF SIMILAR LAW).

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    	Exhibit A-5-3 

     

    

 

VNDO
TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS D

 

	Pass-Through
    Rate: The Net Trust Loan Rate4	 
	First
    Distribution Date: January 12, 2017	 
	Aggregate
    Initial Certificate Balance of the Class D Certificates:  $46,879,000	Rated
    Final Distribution Date: January 2035
	CUSIP:      91831U
    AF45

    U92377 AF46

    91831U AP27	Initial
    Certificate Balance of this

    Certificate:   $[______][QIB]

                         $[______][Reg
    S]

                         $[______][IAI]
	ISIN:          US91831UAF498

    USU92377AF409

    US91831UAP2110	 
	[Common
    Code: 154105352]11	 
	No.:  D-[1]	 

 

This
certifies that [Cede & Co.]12 is the registered owner of the Percentage Interest evidenced by this Certificate
in the distributions to be made from a Trust Fund with respect to the Class D Certificates. The Trust Fund consists primarily
of four notes secured by certain Collateral held in trust by the Certificate Administrator on behalf of the Trustee issued by
a special purpose entity evidencing a portion of a fixed rate loan (the “Trust Loan”). The Trust Fund was created,
and the Trust Loan is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate,
by virtue of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is
bound thereby. Also issued under the Trust and Servicing Agreement are the Class A, Class

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing date is 3.90263%.

 

5
For Rule 144A Certificates.

 

6
For Regulation S Certificates.

 

7
For IAI Certificates.

 

8
For Rule 144A Certificates.

 

9
For Regulation S Certificates.

 

10
For IAI Certificates.

 

11
For Regulation S Certificates.

 

12
For Global Certificate only.

 

    	Exhibit A-5-4 

     

    

 

X-A,
Class B, Class C, Class E and Class R Certificates (collectively with the Class D Certificates, the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit,” as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant
to the terms of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after
each Determination Date, commencing in January 2017 (each such date, a “Distribution Date”), to the Person
in whose name this Certificate is registered as of the related Record Date, which will be the close of business on the last Business
Day of the month preceding the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s
pro rata share (based on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal
and interest, any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class D Certificates
for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All
distributions will be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor
in the Certificate Register or, provided that the Certificate Administrator has received appropriate wire transfer instructions,
at least five Business Days prior to the related Distribution Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity located in the United States and having appropriate facilities therefor. The
final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the location that is specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Trust
Loan, as more specifically set forth herein and in the Trust and Servicing Agreement.

 

This
Certificate does not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

    	Exhibit A-5-5 

     

    

 

As
provided in the Trust and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for
registration of transfer of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Certificates in authorized denominations, in like aggregate interest
and of the same Class.

 

Prior
to due presentation of this Certificate for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator
or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate
for the purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever,
and none of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any
agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar shall be
affected by any notice to the contrary.

 

The
Trust and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee, without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances
specified in the Trust and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders
of Certificates of each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates,
except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the
Trust Loan that are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing
payments of the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted
Servicing Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required
to consent to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative
without the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust
and Servicing Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes
in any manner the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into
any amendment to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any
additional liability for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and
Servicing Agreement. In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer,
the Special Servicer and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party
requesting the amendment, or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the
amendment is authorized or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that
the amendment or the exercise of any power

 

    	Exhibit A-5-6 

     

    

 

granted
to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the Trustee or any other specified person
in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The
Trust and Servicing Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer,
the Certificate Administrator, the Depositor and the Trustee created thereby with respect to the Certificates (other than the
obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution Date and
other than the indemnification rights and obligations of the parties thereto) shall terminate upon the last action required to
be taken by the Certificate Administrator on the final Distribution Date pursuant to Article 9 of the Trust and Servicing
Agreement following the later of (i) the final payment on the Certificates or (ii)  the liquidation of the Trust Loan
(including, without limitation, the sale of the Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or
abandonment of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall
the Trust continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P.
Kennedy, the late ambassador of the United States to the Court of St. James’s, living on the date of execution of the Trust
and Servicing Agreement.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing
Agreement or be valid for any purpose.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

    	Exhibit A-5-7 

     

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:    December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, 

    not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

Certificate
of Authentication

 

This
is one of the Class D Certificates referred to in the Trust and Servicing Agreement.

 

Dated:    December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

    	Exhibit A-5-8 

     

    

   

SCHEDULE
A

 

SCHEDULE
OF EXCHANGES

 

The
following payments of principal and exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global
Certificate] [Regulation S Global Certificate] [Definitive Certificate] have been made:

 

	Date
        of 

        Exchange or 

        Payment of 

        Principal

        
	 	Certificate

        Balance Prior

        to Exchange

        or Payment

        
	 	Certificate

        Balance

        Exchanged or

        Principal

        Payment

        Made

        
	 	Type
        of

        Certificate

        Exchanged for

        
	 	Remaining

        Certificate

        Balance

        Following

        Such

        Exchange or

        Payment

        
	 	Notation

        Made by

        

	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

    	Exhibit A-5-9 

     

    

  

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature
    by or on behalf of Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer
    Identification Number:  _________

 

    	Exhibit A-5-10 

     

    

  

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions: ____________________________ _______________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of ____ ______________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ____________ ______________________________
as its (their) agent.

	 	 	 	 
	 	By:	 	 
	 	 	[Please print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer Identification Number:
	 	 

 

    	Exhibit A-5-11 

     

    

 

EXHIBIT
A-6

 

FORM
OF CLASS E CERTIFICATES

 

CLASS E

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S GLOBAL CERTIFICATE FOR PURPOSES OF REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE NOR ANY
INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S GLOBAL CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST
HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE TRUST AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS GLOBAL CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN
HOLDER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE

 

 

 

1
Temporary Regulation S Global Certificate legend.

 

2
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

3
Global Certificate legend.

 

    Exhibit A-6-1

     

    

 

CERTIFICATE
ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE
TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER”
WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER
HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) TO AN INSTITUTION
THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH
ALL OF THE EQUITY OWNERS ARE “ACCREDITED INVESTORS” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION
D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF
ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS
CLASS E CERTIFICATE IS SUBORDINATED TO THE CLASS A, CLASS B, CLASS C AND CLASS D CERTIFICATES AS AND TO THE
EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO SECTION 406 OF ERISA OR SECTION

 

    Exhibit A-6-2

     

    

 

4975
OF THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

    Exhibit A-6-3

     

    

 

VNDO
TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS E

 

	Pass-Through
    Rate: The Net Trust Loan Rate4	 
	First
    Distribution Date: January 12, 2017	 
	Aggregate
    Initial Certificate Balance of the Class E Certificates:  $57,133,000	Rated
    Final Distribution Date: January 2035
	CUSIP:      91831U
    AG25

    U92377 AG26

    91831U AQ07	Initial
    Certificate Balance of this

    Certificate:     $[______][QIB]

                           $[______][Reg
    S]

                           $[______][IAI]
	ISIN:          US91831UAG228

    USU92377AG239

    US91831UAQ0410	 
	[Common
    Code: 154105875]11	 
	No.:  E-[1]	 

 

This
certifies that [Cede & Co.]12 is the registered owner of the Percentage Interest evidenced by this Certificate
in the distributions to be made from a Trust Fund with respect to the Class E Certificates. The Trust Fund consists primarily
of four notes secured by certain Collateral held in trust by the Certificate Administrator on behalf of the Trustee issued by
a special purpose entity evidencing a portion of a fixed rate loan (the “Trust Loan”). The Trust Fund was created,
and the Trust Loan is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate,
by virtue of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is
bound thereby. Also issued under the Trust and Servicing Agreement are the Class A, Class

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing date is 3.90263%.

 

5
For Rule 144A Certificates.

 

6
For Regulation S Certificates.

 

7
For IAI Certificates.

 

8
For Rule 144A Certificates.

 

9
For Regulation S Certificates.

 

10
For IAI Certificates.

 

11
For Regulation S Certificates.

 

12
For Global Certificate only.

 

    Exhibit A-6-4

     

    

 

X-A,
Class B, Class C, Class D and Class R Certificates (collectively with the Class E Certificates, the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit,” as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended.

 

Pursuant
to the terms of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after
each Determination Date, commencing in January 2017 (each such date, a “Distribution Date”), to the Person
in whose name this Certificate is registered as of the related Record Date, which will be the close of business on the last Business
Day of the month preceding the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s
pro rata share (based on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal
and interest, any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class E Certificates
for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All
distributions will be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor
in the Certificate Register or, provided that the Certificate Administrator has received appropriate wire transfer instructions,
at least five Business Days prior to the related Distribution Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity located in the United States and having appropriate facilities therefor. The
final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the location that is specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Trust
Loan, as more specifically set forth herein and in the Trust and Servicing Agreement.

 

This
Certificate does not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

    Exhibit A-6-5

     

    

 

As
provided in the Trust and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for
registration of transfer of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Certificates in authorized denominations, in like aggregate interest
and of the same Class.

 

Prior
to due presentation of this Certificate for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator
or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate
for the purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever,
and none of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any
agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar shall be
affected by any notice to the contrary.

 

The
Trust and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee, without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances
specified in the Trust and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders
of Certificates of each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates,
except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the
Trust Loan that are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing
payments of the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted
Servicing Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required
to consent to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative
without the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust
and Servicing Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes
in any manner the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into
any amendment to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any
additional liability for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and
Servicing Agreement. In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer,
the Special Servicer and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party
requesting the amendment, or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the
amendment is authorized or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that
the amendment or the exercise of any power

 

    Exhibit A-6-6

     

    

 

granted
to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor, the Trustee or any other specified person
in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The
Trust and Servicing Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer,
the Certificate Administrator, the Depositor and the Trustee created thereby with respect to the Certificates (other than the
obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution Date and
other than the indemnification rights and obligations of the parties thereto) shall terminate upon the last action required to
be taken by the Certificate Administrator on the final Distribution Date pursuant to Article 9 of the Trust and Servicing
Agreement following the later of (i) the final payment on the Certificates or (ii)  the liquidation of the Trust Loan
(including, without limitation, the sale of the Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or
abandonment of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall
the Trust continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P.
Kennedy, the late ambassador of the United States to the Court of St. James’s, living on the date of execution of the Trust
and Servicing Agreement.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing
Agreement or be valid for any purpose.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

    Exhibit A-6-7

     

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed.

 

Dated:   December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	
	 	 	Authorized Officer

  

Certificate
of Authentication

 

This
is one of the Class E Certificates referred to in the Trust and Servicing Agreement.

 

Dated:   December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION,

    not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	
	 	 	Authorized Officer

 

    Exhibit A-6-8

     

    

 

SCHEDULE
A

 

SCHEDULE
OF EXCHANGES

 

The
following payments of principal and exchanges of a part of this [Rule 144A Global Certificate] [Temporary Regulation S Global
Certificate] [Regulation S Global Certificate] [Definitive Certificate] have been made:

 

	Date
                                         of

                                         Exchange or

                                         Payment of

                                         Principal
	 	Certificate

                                         Balance Prior

                                         to Exchange

                                         or Payment
	 	Certificate

                                         Balance

                                         Exchanged or

                                         Principal

                                         Payment

                                         Made
	 	Type
                                         of

                                         Certificate

                                         Exchanged for
	 	Remaining

                                         Certificate

                                         Balance

                                         Following

                                         Such

                                         Exchange or

                                         Payment
	 	Notation

                                         Made by

	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

    Exhibit A-6-9

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature
    by or on behalf of

    Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer
    Identification Number:  _________

  

    Exhibit A-6-10

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions: ___________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of ____ ______________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or ____________ ______________________________
as its (their) agent. 

	 	 	 	 
	 	By:	 	 
	 	 	[Please
    print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer
    Identification Number:

 

    Exhibit A-6-11

     

    

  

EXHIBIT
A-7

 

FORM
OF CLASS R CERTIFICATES

 

CLASS R

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSOR, THE LOAN BORROWER, ANY COMPANION LOAN
HOLDER, THE SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE INITIAL PURCHASERS, THE LOAN SELLERS
OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE TRUST LOAN ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE
REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, OR ANY PERSON ACTING ON BEHALF OF
ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN TO ACQUIRE THIS CERTIFICATE.

 

THIS
CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN TWO “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. EACH TRANSFEREE
OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED

 

    	 	 Exhibit A-7-1	 

     

    

 

THIS
CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS, NON-U.S. PERSONS OR AGENTS OF EITHER,
AS SET FORTH IN SECTION 5.3 OF THE TSA, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR
TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5),
OR AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE,
(B) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C)
IT UNDERSTANDS THAT IT MAY INCUR TAX LIABILITIES WITH RESPECT TO THIS CERTIFICATE IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D)
IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY BECOME DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT
TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE
INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S. PERSON AND (F) IT WILL NOT TRANSFER THIS CERTIFICATE TO ANY PERSON OR ENTITY
THAT DOES NOT PROVIDE A SIMILAR AFFIDAVIT. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A
PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS
IN ANY PURPORTED TRANSFEREE. BECAUSE THIS CERTIFICATE REPRESENTS MULTIPLE “NON-ECONOMIC RESIDUAL INTERESTS”, AS DEFINED
IN TREASURY REGULATIONS SECTION 1.860E-1(c), TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES.
IN ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED,
AMONG OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO TRANSFER AT A MINIMUM
PRICE OR TO AN ELIGIBLE TRANSFEREE AS SPECIFIED IN TREASURY REGULATIONS.

 

    	 	 Exhibit A-7-2	 

     

    

 

VNDO
TRUST 2016-350P

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,

SERIES 2016-350P, CLASS R

 

Percentage
Interest:  [     ]%

 

Cut
Off Date:  December 6, 2016

 

CUSIP: 91831U
AH0

 

ISIN: US91831UAH05

 

No.:  R-[1]
 

 

This
certifies that [__________] is the registered owner of the Percentage Interest evidenced by this Certificate in the distributions
to be made from a Trust Fund with respect to the Class R Certificates. The Trust Fund consists primarily of four notes secured
by certain Collateral held in trust by the Certificate Administrator on behalf of the Trustee issued by a special purpose entity
evidencing a portion of a fixed rate loan (the “Trust Loan”). The Trust Fund was created, and the Trust Loan
is to be serviced, pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue
of the acceptance hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.
Also issued under the Trust and Servicing Agreement are the Class A, Class X-A, Class B, Class C, Class D and Class E Certificates
(collectively with the Class R Certificates, the “Certificates”; the Holders of Certificates issued under
the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).

 

This
Certificate is issued pursuant to, and in accordance with, the terms of a Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer,
and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

This
Certificate represents the “residual interest” in two “real estate mortgage investment conduits,” as those
terms are defined, respectively, in Sections 860G(a)(2) and 860D of the Internal Revenue Code of 1986, as amended.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

    	 	 Exhibit A-7-3	 

     

    

 

Pursuant
to the terms of the Trust and Servicing Agreement, the Certificate Administrator will distribute, on the 4th Business Day after
each Determination Date, commencing in January 2017 (each such date, a “Distribution Date”), to the Person
in whose name this Certificate is registered as of the related Record Date, which will be the close of business on the last Business
Day of the month preceding the calendar month in which the applicable Distribution Date occurs, an amount equal to such Person’s
pro rata share (based on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal
and interest, any Prepayment Fees then distributable, if any, and any other amounts distributable to the Class R Certificates
for such Distribution Date, all as more fully described in the Trust and Servicing Agreement.

 

All
distributions will be made to the Persons entitled thereto by check mailed by first class mail to the address set forth therefor
in the Certificate Register or, provided that the Certificate Administrator has received appropriate wire transfer instructions,
at least five Business Days prior to the related Distribution Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity located in the United States and having appropriate facilities therefor. The
final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the location that is specified by the Certificate Administrator in the notice to Certificateholders of such final distribution.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Trust
Loan, as more specifically set forth herein and in the Trust and Servicing Agreement.

 

This
Certificate does not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator and Trustee.

 

As
provided in the Trust and Servicing Agreement, subject to certain restrictions on transfer set forth therein, upon surrender for
registration of transfer of any Certificate, the Certificate Registrar shall execute, authenticate and deliver, in the name of
the designated transferee or transferees, one or more new Certificates in authorized denominations, in like aggregate interest
and of the same Class.

 

Prior
to due presentation of this Certificate for registration of transfer, the Trustee, the Servicer, the Special Servicer, the Certificate
Administrator, the Certificate Registrar, and any agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator
or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate
for the purpose of receiving distributions as provided in the Trust and Servicing Agreement and for all other purposes whatsoever,
and none of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator, the Certificate Registrar, nor any
agent of the Trustee, the Servicer, the Special Servicer, the Certificate Administrator or the Certificate Registrar shall be
affected by any notice to the contrary.

 

    	 	 Exhibit A-7-4	 

     

    

 

The
Trust and Servicing Agreement may be amended from time to time by the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator and the Trustee, without the consent of any of the Certificateholders or Companion Loan Holders, in certain circumstances
specified in the Trust and Servicing Agreement. The Trust and Servicing Agreement may also be amended from time to time by the
Depositor, the Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the written consent of the Holders
of Certificates of each Class adversely affected by such amendment evidencing, in each case, not less than 51% of the aggregate
Percentage Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of the Trust and Servicing Agreement or of modifying in any manner the rights of the Holders of the Certificates,
except that the amendment may not (1) reduce in any manner the amount of, or delay the timing of, payments received on the
Trust Loan that are required to be distributed on any Certificate; (2) alter in any manner the liens on any Collateral securing
payments of the Trust Loan; (3) alter the obligations of the Servicer or the Trustee to make an Advance or alter the Accepted
Servicing Practices; (4) change the percentages of Voting Rights or Percentage Interests of Certificateholders that are required
to consent to any action or inaction under the Trust and Servicing Agreement; (5) adversely affect the Controlling Class Representative
without the consent of 100% of the Controlling Class Certificateholders; or (6) amend the Section 10.1 of the Trust
and Servicing Agreement. Notwithstanding the foregoing, no amendment to the Trust and Servicing Agreement may be made that changes
in any manner the obligations of the Loan Sellers under the Loan Purchase Agreement without the consent of the Loan Sellers, and
the Trustee, the Servicer, the Special Servicer or the Certificate Administrator may, but will not be obligated to, enter into
any amendment to the Trust and Servicing Agreement that it determines affects its rights, duties or immunities or creates any
additional liability for the Trustee, the Servicer, the Special Servicer or the Certificate Administrator under the Trust and
Servicing Agreement. In addition, no amendment may be made to the Trust and Servicing Agreement unless the Trustee, the Servicer,
the Special Servicer and the Certificate Administrator have first received an Opinion of Counsel (at the expense of the party
requesting the amendment, or at the Trust Fund’s expense if the Trustee is the requesting party) to the effect that the
amendment is authorized or permitted under the Trust and Servicing Agreement and all conditions precedent have been met and that
the amendment or the exercise of any power granted to the Servicer, the Special Servicer, the Certificate Administrator, the Depositor,
the Trustee or any other specified person in accordance with the amendment, will not result in an Adverse REMIC Event.

 

The
Trust and Servicing Agreement provides that the respective obligations and responsibilities of the Servicer, the Special Servicer,
the Certificate Administrator, the Depositor and the Trustee created thereby with respect to the Certificates (other than the
obligation of the Certificate Administrator to make certain payments to Certificateholders after the final Distribution Date and
other than the indemnification rights and obligations of the parties thereto) shall terminate upon the last action required to
be taken by the Certificate Administrator on the final Distribution Date pursuant to Article 9 of the Trust and Servicing
Agreement following the later of (i) the final payment on the Certificates or (ii)  the liquidation of the Trust Loan
(including, without limitation, the sale of the Trust Loan pursuant to the Trust and Servicing Agreement) or the liquidation or
abandonment of the Property and all other Collateral for the Whole Loan; provided, however, that in no event shall
the Trust continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P.
Kennedy, the late

 

    	 	 Exhibit A-7-5	 

     

    

 

ambassador
of the United States to the Court of St. James’s, living on the date of execution of the Trust and Servicing Agreement.

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the
Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing
Agreement or be valid for any purpose.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator
under the Trust and Servicing Agreement.

 

    	 	 Exhibit A-7-6	 

     

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Certificate to be duly executed.

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, 

    not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized
    Officer

  

Certificate
of Authentication

 

This
is one of the Class R Certificates referred to in the Trust and Servicing Agreement.

 

Dated: December
23, 2016

	 	 	 
	 	WELLS
    FARGO BANK, NATIONAL ASSOCIATION, 

    not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized
    Officer

 

    	 	 Exhibit A-7-7	 

     

    

 

SCHEDULE
A

 

SCHEDULE
OF EXCHANGES

 

The
following payments of principal and exchanges of a part of this Definitive Certificate have been made:

 

	Date
                                         of

                                         Exchange or

                                         Payment of

                                         Principal
	 	Certificate

                                         Balance Prior

                                         to Exchange

                                         or Payment
	 	Certificate

                                         Balance

                                         Exchanged or

                                         Principal

                                         Payment

                                         Made
	 	Type
                                         of

                                         Certificate

                                         Exchanged for
	 	Remaining

                                         Certificate

                                         Balance

                                         Following

                                         Such

                                         Exchange or

                                         Payment
	 	Notation

                                         Made by

	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________
	 	 	 	 	 	 	 	 	 	 	 
	__________	 	__________	 	__________	 	__________	 	__________	 	__________

 

    	 	 Exhibit A-7-8	 

     

    

 

ASSIGNMENT

 

FOR
VALUE RECEIVED, the undersigned (“Assignor(s)”) hereby sell(s), assign(s) and transfer(s) unto __________________________________________
(please print or typewrite name(s) and address(es), including postal zip code(s) of assignee(s)) (“Assignee(s)”)
the entire Percentage Interest represented by the within Certificate and hereby authorize(s) the registration of transfer of such
interest to Assignee(s) on the Certificate Register of the Trust.

 

I
(we) further direct the Certificate Registrar to issue a new Certificate of the entire Percentage Interest represented by the
within Certificate to the above-named Assignee(s) and to deliver such Certificate to the following address:

	 	 	 	 
		 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Date:  __________________	 	 
	 	 	 
	 	 	Signature
    by or on behalf of

    Assignor(s):
	 	 	 	 
	 	 	 	 
	 	 	Taxpayer
    Identification Number:  _________

  

    	 	 Exhibit A-7-9	 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
Assignee(s) should include the following for purposes of distribution:

 

Address
of the Assignee(s) for the purpose of receiving notices and distributions: ___________________________________________.

 

Distributions,
if being made by wire transfer in immediately available funds, to ____________________________ for the account of __________________________
account number ____________________.

 

This
information is provided by _______________________________________ the Assignee(s) named above, or __________________________________________
as its (their) agent. 

	 	 	 	 
	 	By:	 	 
	 	 	[Please
    print or type name(s)]
	 	 	 
	 	Title:	 
	 	 	 
	 	Taxpayer
    Identification Number:

 

    	 	 Exhibit A-7-10	 

     

    

 

EXHIBIT
B

 

FORM
OF REQUEST FOR RELEASE

(for Certificate Administrator)

 

	Loan
    Information
	 
	 	Name of Mortgagor:	 

        

	 	 	 
	Certificate
    Administrator
	 
	 	Name:	Wells Fargo Bank, National Association
	 	 	 
	 	Address:	1055 10th Ave SE

    Minneapolis, Minnesota 55414

    Attention:  Corporate Trust (CMBS) – VNDO Trust 2016-350P
	 	 	 
	 	Custodian/Certificate
    Administrator Mortgage File No.:	 

         

	 	 	 
	Depositor
	 
	 	Name:	GS Mortgage Securities Corporation II
	 	 	 
	 	Address:	200 West Street, New York, New York 10282
	 	 	 
	 	Certificates:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through
    Certificates, Series 2016-350P

 

The
undersigned [Servicer] [Special Servicer] hereby requests delivery from Wells Fargo Bank, National Association, as certificate
administrator (the “Certificate Administrator”), for the Holders of VNDO Trust 2016-350P, Commercial Mortgage
Pass-Through Certificates, Series 2016-350P, the documents referred to below (the “Documents”). All capitalized
terms not otherwise defined in this Request for Release shall have the meanings given them in the Trust and Servicing Agreement,
dated as of December 6, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National
Association, as Certificate Administrator and Trustee (the “Trust and Servicing Agreement”).

 

	( )		Note
                                         dated [          ], in the original
                                         principal sum of $________, made by _______, payable to, or endorsed to the order of,
                                         the Trustee.
	 	 	 

    	 	 Exhibit B-1	 

     

    

 

	(
)		Mortgage(s)
                                         recorded on ____________ as instrument no. ________ in the County Recorder’s Office
                                         of the County of _________, State of ___________ in book/reel/docket ___________ of official
                                         records at page/image ________.

 

	( ) 		Deed
                                         of Trust(s) recorded on __________ as instrument no. ________ in the County Recorder’s
                                         Office of the County of ___________, State of _______ in book/reel/docket ____________
                                         of official records at page/image.

 

	(
)		Deed
                                         to Secure Debt recorded on __________ as instrument no. ________ in the County Recorder’s
                                         Office of the County of ___________, State of _______ in book/reel/docket ____________
                                         of official records at page/image.

 

	( )		Other
                                         documents, including any amendments, assignments or other assumptions of the Notes or
                                         Mortgages.

 

			( )	 	 

 

			( )	 	 

 

			( )	 	 

 

			( )	 	 

  

The
undersigned [Servicer] [Special Servicer] hereby acknowledges and agrees as follows:

 

(1)       The
[Servicer] [Special Servicer] shall hold and retain possession of the Documents in trust on behalf of the Certificate Administrator
for the benefit of the Certificateholders, solely for the purposes provided in the Trust and Servicing Agreement.

 

(2)       The
[Servicer] [Special Servicer] shall not cause or permit the Documents to become subject to, or encumbered by, any claims, liens,
security interests, charges, writs of attachment or other impositions nor shall the [Servicer] [Special Servicer] assert or seek
to assert any claims or rights of set-off to or against the Documents or any proceeds thereof except as otherwise provided in
the Trust and Servicing Agreement.

 

(3)       The
[Servicer] [Special Servicer] shall return the Documents to the Certificate Administrator when the need therefor no longer exists,
unless the Whole Loan has been liquidated or the Whole Loan has been paid in full and the proceeds thereof have been remitted
to the Collection Account except as expressly provided in the Trust and Servicing Agreement.

 

(4)       The
Documents, coming into the possession or control of the [Servicer] [Special Servicer] shall at all times be earmarked for the
account of the Certificate Administrator, and the [Servicer] [Special Servicer] shall keep the Documents separate and distinct
from all other property in the [Servicer’s] [Special Servicer’s] possession, custody or control.

 

    	 	 Exhibit B-2	 

     

    

 

	 	[SERVICER][SPECIAL
    SERVICER]
	 	 
	 	By:	 
	 	 	Name:
	Date:	 	 	 	Title:

 

 

    	 	 Exhibit B-3	 

     

    

 

EXHIBIT
C

 

FORM
OF TRANSFER CERTIFICATE

FOR RULE 144A GLOBAL CERTIFICATE

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges
or transfers pursuant to

Section 5.3(c) of the Trust and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

600
South 4th Street, 7th Floor, MAC: N9300-070 

Minneapolis,
Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO
                                         Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P,
                                         Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator
and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This
letter relates to US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Global Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear]
[Clearstream]* (Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and
in accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a “U.S. person” within the meaning of Rule 902(k) of Regulation S;

 

 

 

* Select
appropriate depository.

 

    	 	 Exhibit C-1	 

     

    

 

(2)       the
offer and sale of the Certificates was made in an “offshore transaction” within the meaning of Rule 902(h) of Regulation
S;

 

(3)       no
“directed selling efforts” have been made by the Transferor, an affiliate of the Transferor, or any person acting
on behalf of the Transferor or any such affiliate in contravention of the requirements of Rule 903(b) or 904(b) of Regulation
S, as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special
Servicer, the Certificate Administrator and the Initial Purchasers.

 

	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated:	 	 	 	 

 

cc:
GS Mortgage Securities Corporation II

 

    	 	 Exhibit C-2	 

     

    

 

EXHIBIT
D

 

FORM
OF TRANSFER CERTIFICATE

FOR RULE 144A GLOBAL CERTIFICATE

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange
or transfers pursuant to

Section 5.3(d) of the Trust and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

600
South 4th Street, 7th Floor, MAC: N9300-070 

Minneapolis,
Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO
                                         Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P,
                                         Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator
and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This
letter relates to US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Global Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and
in accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a “U.S. person” within the meaning of Rule 902(k) of Regulation S;

 

(2)       the
offer and sale of the Certificates was made in an “offshore transaction” within the meaning of Rule 902(h) of Regulation
S;

 

    	 	 Exhibit D-1	 

     

    

 

(3)       no
“directed selling efforts” have been made by the Transferor, an affiliate of the Transferor, or a person acting on
behalf of the Transferor or any such affiliate in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special
Servicer, the Certificate Administrator and the Initial Purchasers.

  

	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	Dated:	 	 	 	 

 

cc:
GS Mortgage Securities Corporation II

 

    	 	 Exhibit D-2	 

     

    

 

EXHIBIT
E

 

FORM
OF TRANSFER CERTIFICATE

FOR TEMPORARY REGULATION S GLOBAL CERTIFICATE

TO RULE 144A GLOBAL CERTIFICATE DURING RESTRICTED PERIOD

 

(Exchange
or transfers pursuant to

Section 5.3(e) of the Trust and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

600
South 4th Street, 7th Floor, MAC: N9300-070 

Minneapolis,
Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO
                                         Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P,
                                         Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator
and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This
letter relates to US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS
No. [______] and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository in
the name of [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer
of such beneficial interest for a beneficial interest in the Rule 144A Global Certificate of such Class (CUSIP No. [______]).

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are
being exchanged or transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act
of 1933, as amended (the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing
the Certificates for its own account, or for one or more accounts with respect to which the transferee exercises sole investment
discretion, and the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A
in each case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws
of any state of the United States or other applicable jurisdiction.

 

 

 

* Select
appropriate depository.

 

    	 	 Exhibit E-1	 

     

    

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Servicer, the Special
Servicer, the Certificate Administrator and the Initial Purchasers.

 

	 	[Insert Name of Transferor]
	 	 	 
	 	 By:	 
	 	 	Name:
	 	 	Title:
	Dated:	 	 	 	 

 

cc:
GS Mortgage Securities Corporation II

 

    	 	 Exhibit E-2	 

     

    

 

EXHIBIT
F

 

FORM
OF CERTIFICATION TO BE GIVEN BY

BENEFICIAL OWNER OF TEMPORARY

REGULATION S GLOBAL CERTIFICATE

 

(Exchanges
pursuant to

Section 5.3(f) of the Trust and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar 

600
South 4th Street, 7th Floor, MAC: N9300-070 

Minneapolis,
Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO
                                         Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P,
                                         Class [__] 

 

Reference
is hereby made to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator
and Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

[For
purposes of acquiring a beneficial interest in a Regulation S Global Certificate of the Class specified above after
the expiration of the Restricted Period,] [For purposes of receiving payments under a Temporary Regulation S Global Certificate
of the Class specified above,]* the undersigned holder of a beneficial interest in a Temporary Regulation S
Global Certificate of the Class specified above issued under the Trust and Servicing Agreement certifies that it is not a
“U.S. person” as defined in Rule 902(k) of Regulation S under the Securities Act of 1933, as amended.

 

We
undertake to advise you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification
relating to the Certificates of the Class specified above held by you for our account if any applicable statement herein
is not correct on such date, and in the absence of any such notification it may be assumed that this certification applies as
of such date.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding.

 

 

 

* Select,
as applicable.

 

    	 	 Exhibit F-1	 

     

    

 

This
certificate and the statements contained herein are made for your benefit and the benefit of the Depositor, the Servicer, the
Special Servicer, the Certificate Administrator, the Trustee and the Initial Purchasers.

 

	 	Dated:	 	 
	 	 	 
	 	By:	 
	 	 	as, or as agent for, the holder of a beneficial interest
    in the Certificates to which this certificate relates.

 

    	 	 Exhibit F-2	 

     

    

 

EXHIBIT G

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO TEMPORARY REGULATION S GLOBAL CERTIFICATE

 

(Exchanges or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National Association,

as Certificate Registrar

600 South 4th Street, 7th
Floor, MAC: N9300-070

Minneapolis, Minnesota 55479-0113

Attention: Certificate Transfers (CMBS)- VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__] 

 

Reference is hereby made to the Trust
and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”), by and among GS
Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer,
AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This
letter relates to US $[______] aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of
Transferor] (the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry
Certificates for a beneficial interest in the Temporary Regulation S Global Certificate of such Class (CINS No. [______] and
ISIN No. [______]) to be held with [Euroclear] [Clearstream]* (Common Code
[______]) through the Depository.

 

In connection with such request, and
in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in compliance
with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and in accordance with Regulation S
(“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”),
and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a “U.S. person” within the meaning of Rule 902(k) of Regulation S;

 

 

 

*
Select appropriate depository.

 

    Exhibit G-1

     

    

 

(2)        the
offer and sale of the Certificates was made in an “offshore transaction” within the meaning of Rule 902(h) of Regulation
S;

 

(3)       no
“directed selling efforts” have been made by the Transferor, an affiliate of the Transferor, or any person acting on
behalf of the Transferor or any such affiliate in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this certificate
is required in connection with certain securities laws of the United States. In connection therewith, if administrative or legal
proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize
you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained herein
are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Trustee and the Initial Purchasers.

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:

Title:

 

Dated: ________

 

cc: GS Mortgage Securities Corporation II

 

    Exhibit G-2

     

    

 

EXHIBIT H

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO REGULATION S GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National Association,

as Certificate Registrar 

600 South 4th Street, 7th
Floor, MAC: N9300-070 

Minneapolis, Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__] 

 

Reference is hereby made to the Trust
and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”), by and among GS
Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer,
AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to US $[______]
aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are held in the
form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor] (the “Transferor”).
The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates for a beneficial interest in the Regulation
S Global Certificate (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In connection with such request, and
in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in compliance
with the transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and in accordance with Regulation S
(“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”),
and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a “U.S. person” within the meaning of Rule 902(k) of Regulation S;

 

(2)       the
offer and sale of the Certificates was made in an “offshore transaction” within the meaning of Rule 902(h) of Regulation
S;

 

(3)       no
“directed selling efforts” have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S,
as applicable; and

 

    Exhibit H-1

     

    

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this certificate
is required in connection with certain securities laws of the United States. In connection therewith, if administrative or legal
proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize
you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained herein
are made for your benefit and the benefit of the Depositor, the Servicer, the Special Servicer, the Certificate Administrator,
the Trustee and the Initial Purchasers.

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:

Title:

 

Dated: _______

 

cc: GS Mortgage Securities Corporation II

 

    Exhibit H-2

     

    

 

EXHIBIT I

 

FORM OF TRANSFER CERTIFICATE

FOR NON-BOOK ENTRY CERTIFICATE

TO RULE 144A GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to

Section 5.3(g) of the Trust and Servicing Agreement)

 

Wells Fargo Bank, National Association,

as Certificate Registrar

600 South 4th Street, 7th
Floor, MAC: N9300-070

Minneapolis, Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__] 

 

Reference is hereby made to the Trust
and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”), by and among GS
Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer,
AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and
Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to US $[______]
aggregate Certificate Balance of the Class [__] Certificates (the “Certificates”) which are held in the
form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor] (the “Transferor”).
The Transferor has requested an exchange or transfer of such beneficial interest for a beneficial interest in the Rule 144A
Global Certificate of such Class (CUSIP No. [______]).

 

In connection with such request, and
in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or transferred in
accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities
Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account, or
for one or more accounts with respect to which the transferee exercises sole investment discretion, and the transferee and any
such account is a “qualified institutional buyer” within the meaning of Rule 144A in each case in a transaction
meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state of the United States
or other applicable jurisdiction.

 

We understand that this certificate
is required in connection with certain securities laws of the United States. In connection therewith, if administrative or legal
proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize
you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained herein
are made for your benefit and the benefit of

 

    Exhibit I-1

     

    

 

the Depositor, the Servicer, the Special
Servicer, the Certificate Administrator, the Trustee and the Initial Purchasers.

	 	 	 
	 	[Insert Name of Transferor]
	 	 	 
	 	By:	 
	 	 	Name:

Title:

 

Dated: _______

 

cc: GS Mortgage Securities Corporation II 

 

    Exhibit I-2

     

    

 

EXHIBIT J-1

 

FORM OF INVESTMENT REPRESENTATION LETTER

 

[Date]

 

Wells Fargo Bank, National Association,

as Certificate Registrar 

600 South 4th Street, 7th
Floor, MAC: N9300-070 

Minneapolis, Minnesota 55479-0113

Attention: (CMBS) - VNDO Trust 2016-350P

 

GS Mortgage Securities
Corporation II

200 West Street

New York, New York 10282-2198

Attention: Leah Nivison

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__] 

 

Ladies and Gentlemen:

 

This
letter is delivered pursuant to Section 5.3 of the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank,
National Association, as Certificate Administrator and Trustee, on behalf of the holders of Commercial Mortgage Pass Through
Certificates, Series 2016-350P (the “Certificates”) in connection with the transfer by [             ]
(the “Seller”) to the undersigned (the “Purchaser”) of $_____ aggregate Certificate Balance
of Class [ ] Certificates, in certificated fully registered form (such registered interest, the “Certificate”).
Terms used but not defined herein shall have the meanings ascribed thereto in the Trust and Servicing Agreement.

 

In connection with such transfer, the
undersigned hereby represents and warrants to you as follows:

 

[For Institutional Accredited Investors
only] 1. The Purchaser is an institutional “accredited investor” (an “Institutional Accredited Investor”,
i.e., an entity meeting the requirements of Rule 501 (a)(1), (2), (3) or (7) of Regulation D under the Securities Act of 1933,
as amended (the “Securities Act”)) and has such knowledge and experience in financial and business matters as
to be capable of evaluating the merits and risks of the investment in the Certificate, and the Purchaser and any accounts for which
the Purchaser is acting are each able to bear the economic risk of our or its investment. The Purchaser is acquiring the Certificate
for its own account or for one or more accounts (each of which is an Institutional Accredited Investor) as to each of which the
Purchaser exercises sole investment discretion. The Purchaser hereby undertakes to reimburse the Trust for any costs incurred by
it in connection with this transfer.

 

    Exhibit J-1-1

     

    

 

[For Qualified Institutional Buyers
only] 1. The Purchaser is a “qualified institutional buyer” within the meaning of Rule 144A (“Rule 144A”)
promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Purchaser is aware that
the transfer is being made in reliance on Rule 144A, and the Purchaser has had the opportunity to obtain the information required
to be provided pursuant to paragraph (d)(4)(i) of Rule 144A.

 

2.       The
Purchaser’s intention is to acquire the Certificate (a) for investment for the Purchaser’s own account or (b) for reoffer,
resale, pledge or other transfer to (i) “qualified institutional buyers” in transactions under Rule 144A, or (ii) Institutional
Accredited Investors pursuant to any other exemption from the registration requirements of the Securities Act, subject in the case
of this clause (ii) to (a) the receipt by the Certificate Registrar of a letter substantially in the form hereof, (b) the
receipt by the Certificate Registrar of an opinion of counsel acceptable to the Certificate Registrar that such reoffer, resale,
pledge or transfer is in compliance with the Securities Act, (c) the receipt by the Certificate Registrar of such other evidence
acceptable to the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act
and other applicable laws (including applicable state and foreign securities laws), and (d) a written undertaking to reimburse
the Trust for any costs incurred by it in connection with the proposed transfer. It understands that the Certificate (and any subsequent
Non-Book Entry Certificate) has not been registered under the Securities Act, by reason of a specified exemption from the registration
provisions of the Securities Act which depends upon, among other things, the bona fide nature of the Purchaser’s investment
intent (or intent to resell to only certain investors in certain exempted transactions) as expressed herein.

 

3.       The
Purchaser acknowledges that the Certificate (and any Certificate issued on transfer or exchange thereof) has not been registered
or qualified under the Securities Act or the securities laws of any State or any other jurisdiction, and that the Certificate cannot
be resold unless it is registered or qualified thereunder or unless an exemption from such registration or qualification is available.

 

4.       The
Purchaser has reviewed the applicable Offering Circular dated December 15, 2016, relating to the Certificates (the “Offering
Circular”) and the agreements and other materials referred to therein and has had the opportunity to ask questions and
receive answers concerning the terms and conditions of the transactions contemplated by the Offering Circular.

 

5.       The
Purchaser hereby undertakes to be bound by the terms and conditions of the Trust and Servicing Agreement in its capacity as an
owner of a Non-Book Entry Certificate or Certificates, as the case may be (each, a “Certificateholder”), in
all respects as if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Certificate Registrar
and all Certificateholders present and future.

 

6.       The
Purchaser will not sell or otherwise transfer any portion of the Certificate, except in compliance with Section 5.3 of the Trust
and Servicing Agreement.

 

7.       Check
one of the following:

 

    Exhibit J-1-2

     

    

 

☐       The
Purchaser is a “U.S. Person” and it has attached hereto an Internal Revenue Service (“IRS”) Form W 9 (or
successor form).

 

☐       The
Purchaser is not a “U.S. Person” and under applicable law in effect on the date hereof, no taxes will be required to
be withheld by the Certificate Registrar (or its agent) with respect to Distributions to be made on the Certificate(s). The Purchaser
has attached hereto (i) a duly executed IRS Form W-8BEN or W-8BEN-E (or successor form), which identifies such Purchaser as the
beneficial owner of the Certificate(s) and states that such Purchaser is not a U.S. Person, (ii) two duly executed copies of IRS
Form W-8IMY (and all appropriate attachment, (iii) two duly executed copies of IRS Form W-8ECI (or successor form), which identify
such Purchaser as the beneficial owner of the Certificate(s) and state that interest and original issue discount on the U.S. Securities
is, or is expected to be, effectively connected with a U.S. trade or business or (iv) a duly executed copy of IRS Form W-8EXP.
The Purchaser agrees to provide to the Certificate Registrar updated IRS Forms W-8BEN, IRS Forms W-8BEN-E, IRS Forms W-8IMY, IRS
Forms W-8ECI or IRS Forms W-8EXP, as the case may be, any applicable successor IRS forms, or such other certifications as the Certificate
Registrar may reasonably request, on or before the date that any such IRS form or certification expires or becomes obsolete, or
promptly after the occurrence of any event requiring a change in the most recent IRS form of certification furnished by it to the
Certificate Registrar.

 

For purposes of this paragraph 7, “U.S.
Person” means a citizen or resident of the United States, a corporation, partnership (except to the extent provided in applicable
Treasury Regulations), or other entity created or organized in or under the laws of the United States, any state thereof or the
District of Columbia, including any entity treated as a corporation or partnership for federal income tax purposes, an estate whose
income is subject to United States federal income tax regardless of its source, or a trust if a court within the United States
is able to exercise primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority
to control all substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, certain trusts
in existence on August 20, 1996 that have elected to be treated as U.S. Persons).

 

Please make all payments due on the
Certificates:**

 

(a)       by
wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

 

Account number:___________________________________

Institution:________________________________________

 

(b)       by
mailing a check or draft to the following address:

 

	 	 	 

 

 

 

**       Please
select (a) or (b).

 

    Exhibit J-1-3

     

    

 

	 	 	 
	 	 	 

 

	 	 	 
	 	Very truly yours,
	 	 
	 	[Insert Name of Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:

Title:

 

Dated:
___________________, 20__

 

    Exhibit J-1-4

     

    

 

EXHIBIT
J-2

 

FORM OF AFFIDAVIT PURSUANT TO

SECTIONS 860D(a)(6)(A) AND 860E(e)(4) OF

THE INTERNAL REVENUE CODE OF 1986, AS AMENDED

 

Wells Fargo Bank, National Association,

as Certificate Registrar

600 South 4th Street, 7th
Floor, MAC: N9300-070

Minneapolis, Minnesota 55479-0113

Attention: (CMBS) - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P,
Commercial Mortgage Pass-Through Certificates, Series 2016-350P (the “Certificates”) issued pursuant
to the Trust and Servicing Agreement, dated December 6, 2016 (the “Trust and Servicing Agreement”), between
GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer,
AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and
Trustee.

	 

 

	STATE OF	)	 
	 	)	ss.:
	COUNTY OF	)	 

 

Capitalized terms not defined herein
shall have the meaning ascribed to them in the Trust and Servicing Agreement.

 

I, [______], under penalties of perjury,
declare that, to the best of my knowledge and belief, the following representations are true, correct and complete, and being first
sworn, depose and say that:

 

1.       I
am a [______] of [______] (the “Purchaser”), on behalf of which I have the authority to make this affidavit.

 

2.       The
Purchaser is acquiring Class R Certificates representing [__]% of the residual interest in each of the real estate mortgage investment
conduits (each, a “REMIC”) designated as the “Lower-Tier REMIC” and “Upper-Tier
REMIC,” respectively, relating to the Certificates for which an election is to be made under Section 860D of the
Internal Revenue Code of 1986 (the “Code”).

 

3.       The
Purchaser is not a “Disqualified Organization” (as defined below), and that the Purchaser is not acquiring the
Class R Certificates for the account of, or as agent or nominee of, or with a view to the transfer of direct or indirect record
or beneficial ownership thereof, to a Disqualified Organization. For the purposes hereof, a Disqualified Organization is

 

    	Exhibit J-2-1 

     

    

 

any of
the following: (i) the United States, a State, or any agency or instrumentality of any of the foregoing (other than an instrumentality
that is a corporation if all of its activities are subject to tax and, except for the Federal Home Loan Mortgage Corporation, a
majority of its board of directors is not selected by any such governmental unit), (ii) a foreign government, International
Organization or agency or instrumentality of either of the foregoing, (iii) an organization that is exempt from tax imposed
by Chapter 1 of the Code (including the tax imposed by Code Section 511 on unrelated business taxable income) on any excess inclusions
(as defined in Code Section 860E(c)(1)) with respect to the Class R Certificates (except certain farmers’ cooperatives described
in Code Section 521), (iv) rural electric and telephone cooperatives described in Code Section 1381(a)(2) or (v) any
other Person so designated by the Certificate Registrar based upon an opinion of counsel to the effect that any transfer to such
Person may cause either Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding. The terms
“United States”, “State” and “International Organization” shall have the
meanings set forth in Section 7701 of the Code or successor provisions thereto.

 

4.       The
Purchaser acknowledges that Section 860E(e) of the Code would impose a substantial tax on the transferor or, in certain circumstances,
on an agent for the transferee, with respect to any transfer of any interest in any Class R Certificates to a Disqualified Organization.

 

5.       The
Purchaser is a Permitted Transferee. For the purpose hereof, a “Permitted Transferee” is any Person or agent
of such Person other than (a) a Disqualified Organization, (b) any other Person so designated by the Certificate Registrar who
is unable to provide an Opinion of Counsel (provided at the expense of such Person or the Person requesting the transfer) to the
effect that the transfer of an ownership interest in any Class R Certificate to such Person will not cause either Trust REMIC to
fail to qualify as a REMIC at any time that the Certificates are outstanding, (c) a Disqualified Non-U.S. Tax Person, (d) an
entity treated as a U.S. partnership if any of its partners, directly or indirectly (other than through a U.S. corporation) is
(or is permitted to be under the partnership agreement) a Disqualified Non-U.S. Tax Person or (e) a U.S. Tax Person with respect
to which income from a Class R Certificate is attributable to a foreign permanent establishment or fixed base, within the meaning
of an applicable income tax treaty, of the transferee or any other U.S. Tax Person).

 

6.       No
purpose of the acquisition of the Class R Certificates is to impede the assessment or collection of tax.

 

7.       The
Purchaser will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed base,
within the meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Tax Person.

 

8.       Check
the applicable paragraph:

 

☐      The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:

 

(i)      the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;

 

    	Exhibit J-2-2 

     

    

 

(ii)     the
present value of the expected future distributions on such Class R Certificate; and

 

(iii)    the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.

 

For purposes of this calculation, (i) the
Purchaser is assumed to pay tax at the highest rate currently specified in Section 11(b) of the Code (but the tax rate in
Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section 11(b) of the Code if
the Purchaser has been subject to the alternative minimum tax under Section 55 of the Code in the preceding two years and
will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present values
are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the
month of the transfer and the compounding period used by the Purchaser.

 

☐      The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly,

 

(i)      the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as
to which income from the Class R Certificate will only be taxed in the United States;

 

(ii)     at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a Person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

(iii)    the
Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in Treasury Regulations
Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Treasury Regulations Sections 1.860E-1(c)(4)(i),
(ii) and (iii) and Treasury Regulations Section 1.860E-1(c)(5); and

 

(iv)    the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐      None
of the above.

 

9.       The
Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class R Certificates as they become due.

 

10.     The
Purchaser understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flows generated
by such Certificate.

 

    	Exhibit J-2-3 

     

    

 

11.     The
Purchaser is aware that the Certificate Registrar will not register any transfer of a Class R Certificate by the Transferor unless
the Purchaser, or such Purchaser’s agent, delivers to the Certificate Registrar, among other things, an affidavit and agreement
in substantially the same form as this affidavit and agreement. The Purchaser expressly agrees that it will not consummate any
such transfer to any Person that does not provide an affidavit and agreement in substantially the same form as this affidavit and
agreement or as to which the Purchaser has actual knowledge that such Person is not a Permitted Transferee or is acting as an agent
(including a broker, nominee or other middleman) for a Person that is not a Permitted Transferee.

 

12.     The
Purchaser represents that it is not acquiring the Class R Certificate as a nominee, trustee or agent for any Person that is not
a Permitted Transferee and that for so long as it retains its interest in the Class R Certificate, it will endeavor to remain a
Permitted Transferee.

 

13.     The
Purchaser consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Class R Certificate will only be owned, directly or indirectly, by a Permitted Transferee.

 

14.     The
Purchaser has reviewed the provisions of Section 5.3 of the Trust and Servicing Agreement, a description of which provisions
is set forth in the Class R Certificates; and the Purchaser expressly agrees to be bound by and to comply with such provisions.

 

15.     The
Purchaser consents to the designation of the Certificate Administrator as the agent of the Tax Matters Person and “partnership
representative” of the Lower-Tier REMIC and the Upper-Tier REMIC pursuant to Section 12.1 of the Trust and Servicing
Agreement.

 

Capitalized terms used but not defined
herein have the meanings assigned thereto in the Trust and Servicing Agreement.

 

IN WITNESS WHEREOF, the Purchaser has
caused this instrument to be duly executed on its behalf by its duly authorized officer this ___day of _________, 20__.

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit J-2-4 

     

    

 

On this ____ day of
_______20__, before me, the undersigned, a Notary Public in and for the State of _______________, duly commissioned and sworn,
personally appeared ______________________ and ________________________, known or proved to me to be the same persons who executed
the foregoing instrument and to be _____________________________ and ___________________________, respectively, of the Purchaser,
and acknowledged to me that they executed the same as their respective free acts and deeds and as the free act and deed of the
Purchaser.

	 	 
	 	NOTARY PUBLIC in and for the State of _______________
	 	 
	[SEAL]	 
	 	 
	My Commission expires:	 
	_________________	 

 

    	Exhibit J-2-5 

     

    

 

EXHIBIT J-3

 

FORM OF TRANSFEROR LETTER

 

[Date]

 

Wells Fargo Bank, National
Association,

as Certificate Registrar

600 South 4th Street, 7th
Floor, MAC: N9300-070

Minneapolis, Minnesota
55479-0113

Attention: (CMBS) - VNDO
Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P, Class R

	 

 

Ladies and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by [______] (the “Transferor”) to [______] (the “Transferee”)
of Class R Certificates evidencing a [__]% Percentage Interest in such Class (the “Residual Certificates”).
The Certificates, including the Residual Certificates, were issued pursuant to the Trust and Servicing Agreement, dated as of December
6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special
Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. Capitalized terms used but not
defined herein shall have the meanings given to them in the Trust and Servicing Agreement. The Transferor hereby certifies, represents
and warrants to you, as Certificate Registrar, that:

 

(1)       No
purpose of the Transferor relating to the transfer of the Residual Certificates by the Transferor to the Transferee is or will
be to impede the assessment or collection of any tax.

 

(2)       The
Transferor understands that the Transferee has delivered to you a Transfer Affidavit and Agreement in the form attached to the
Trust and Servicing Agreement as Exhibit J-2. The Transferor has no actual knowledge that the Transferee is not a Permitted Transferee
(as defined in such Transfer Affidavit and Agreement) and has no actual knowledge or reason to know that the Transferee’s
representations in such Transfer Affidavit and Agreement are false.

 

(3)       The
Transferor has at the time of this transfer conducted a reasonable investigation of the financial condition of the Transferee as
contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Transferor
has determined that the Transferee has historically paid its debts as they became due and has found no significant evidence to
indicate that the Transferee will not continue to pay its debts as they become due in the future. The Transferor understands that
the transfer of the Residual Certificates may not be

 

    	Exhibit J-3-1 

     

    

 

respected for United States income tax purposes (and the Transferor may continue
to be liable for United States income taxes associated therewith) unless the Transferor has conducted such an investigation.

 

	 	Very truly yours,
	 	 	 
	 		(Transferor)
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Exhibit J-3-2 

     

    

 

EXHIBIT K-1

 

FORM OF INVESTOR CERTIFICATION FOR NON-BORROWER RELATED
PARTIES

 

[Date]

 

Wells Fargo Bank, National Association,

as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__]

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and
Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National
Association, as Certificate Administrator and Trustee, with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is [a [certificateholder] [beneficial owner] [prospective purchaser] of the Class ___ Certificates]] [the Controlling
Class Representative]1 [a repurchasing Loan Seller] [a Companion Loan Holder].

 

2.       The
undersigned is not a Borrower Related Party.

 

3.       The
undersigned has received a copy of the final Offering Circular.2

 

4.       The
undersigned is requesting access pursuant to the Trust and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Trust and Servicing Agreement.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information will not, without the prior written consent of the Certificate Administrator, be otherwise disclosed
by

 

 

 

1   
Only required if (i) the Controlling Class Representative is not a Certificateholder and (ii) no Consultation Termination Event
or Control Termination Event is in effect.

 

2   
Not required for a prospective purchaser.

 

    	Exhibit K-1-1 

     

    

 

the undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned will not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.       The
undersigned shall be fully liable for any breach of this certificate by itself or any of its Representatives and shall indemnify
the Depositor, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.       The
undersigned agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have
recertified that the representations and covenants contained herein remain true and correct.

 

7.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and [shall be deemed to have] caused its name to be signed hereto by its duly authorized
signatory, as of the day and year written above.

 

	 	[Certificateholder][Companion
    Loan Holder][Beneficial Owner][Prospective Purchaser] [Controlling Class Representative] [repurchasing Loan Seller]

 

	 	By:	 

 

	 	Name:	 

 

	 	Title:	 

 

	 	Company:	 

 

	 	Phone:	 

 

    	Exhibit K-1-2 

     

    

 

EXHIBIT K-2

 

FORM OF INVESTOR CERTIFICATION AND NOTICES FOR BORROWER
RELATED PARTIES

 

[Date]

 

Wells Fargo Bank, National Association,

as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__]

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and
Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National
Association, as Certificate Administrator and Trustee, with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is [a [certificateholder] [beneficial owner] [prospective purchaser] of the Class ___ Certificates] [a Companion
Loan Holder] [the Controlling Class Representative]1.

 

2.       The
undersigned is a Borrower Related Party.

 

3.       The
undersigned has received a copy of the final Offering Circular.2

 

4.       The
undersigned is requesting access pursuant to the Trust and Servicing Agreement to the Distribution Date Statements (the “Information”)
on the Certificate Administrator’s Website.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information will not, without the prior written consent of the Certificate Administrator, be otherwise disclosed
by

 

 

 

1   
Only required if (i) the Controlling Class Representative is not a Certificateholder and (ii) no Consultation Termination Event
or Control Termination Event is in effect.

 

2   
Not required for a prospective purchaser.

 

    	Exhibit K-2-1 

     

    

 

the undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned will not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.       The
undersigned shall be fully liable for any breach of this certificate by itself or any of its Representatives and shall indemnify
the Depositor, the Certificate Administrator, the Trustee, the Servicer, the Special Servicer and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.       The
undersigned agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have
recertified that the representations and covenants contained herein remain true and correct.

 

7.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and [shall be deemed to have] caused its name to be signed hereto by its duly authorized
signatory, as of the day and year written above.

 

	 	[Certificateholder][Companion Loan Holder][Beneficial
Owner][Prospective Purchaser] [Controlling Class Representative]

 

	 	By:	 

 

	 	Name:	 

 

	 	Title:	 

 

	 	Company:	 

 

	 	Phone:	 

 

    	Exhibit K-2-2 

     

    

 

EXHIBIT
K-3 

 

FORM OF INVESTOR CERTIFICATION FOR EXERCISING VOTING RIGHTS

 

[Date]

 

Wells Fargo Bank, National Association,

as Certificate Administrator 

9062 Old Annapolis Road 

Columbia, Maryland 21045

Attention: Corporate Trust Services - VNDO Trust 2016-350P

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P, Class [__]

 

In accordance with the requirements
for the exercise of Voting Rights pursuant to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust
Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC
Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association,
as Certificate Administrator and Trustee, with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

1.             The
undersigned is a [certificateholder] [beneficial owner] of the Class ___ Certificates.

 

2.             The
undersigned has received a copy of the final Offering Circular.

 

3.             The
undersigned is not a Borrower Related Party.

 

4.             The
undersigned intends to exercise Voting Rights under the Trust and Servicing Agreement and certifies that (please check one of the
following):

 

		___	The undersigned is the Depositor, the Servicer, the Special Servicer, the Certificate Administrator
or the Trustee.

 

		___	The undersigned is an Affiliate of the Depositor, the Servicer, the Special Servicer, the Certificate
Administrator or the Trustee and hereby certifies to the existence of an Affiliate Ethical Wall between it and the Depositor, the
Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable.

 

		___	The undersigned is not the Depositor, the Servicer, the
Special Servicer, the Certificate Administrator, the Trustee or an Affiliate of the foregoing.

 

5.             The
undersigned shall be fully liable for any breach of this certificate by itself or any of its Representatives and shall indemnify
the Depositor, the Trustee, the Servicer, the

 

     Exhibit K-3-1

     

    

 

Special Servicer, the Certificate Administrator and the Trust Fund for any loss,
liability or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.             Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust Agreement.

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and [shall be deemed to have] caused its name to be signed hereto by its duly authorized
signatory, as of the day and year written above.

 

	 	 	 	 	 	 	 
	 	 
	 	[Certificateholder] [Beneficial Owner]
	 	 
	 	By:	 
	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	Company:	 
	 	 	 
	 	Phone:	 

 

     Exhibit K-3-2

     

    

 

EXHIBIT L

 

APPLICABLE SERVICING CRITERIA

 

The assessment of compliance to be
delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing Criteria”
applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including, without limitation,
not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance provided by the Commission
or its staff relating to Item 1122 of Regulation AB). For the avoidance of doubt, for purposes of this Exhibit L, other than with
respect to Item 1122(d)(2)(iii), references to Servicer below shall include any Sub-Servicer engaged by a Servicer or Special Servicer.

 

	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	Criteria	 
	 	General
    Servicing Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Servicer

    Special Servicer
	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Servicer

    Special Servicer
	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Servicer 

        Special Servicer

         

	1122(d)(1)(v)	Aggregation
    of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	 Servicer

        Special Servicer

	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Servicer 

        Special Servicer

         

	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	N/A

     
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Servicer
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Servicer

    Special Servicer
	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.
    For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial
    institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Servicer

    Special Servicer

 

     Exhibit L-1

     

    

 

	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	Criteria	 
	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Servicer

    Special Servicer
	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days
    after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed
    and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling
    items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number
    of days specified in the transaction agreements.	Servicer

    Special Servicer
	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and
    other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms
    specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations;
    and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number
    of mortgage loans serviced by the Reporting Servicer.	N/A
	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	N/A
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	N/A
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	N/A
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Servicer

    Special Servicer
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	N/A
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Servicer

    Special Servicer
	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan
    documents.	Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made,
    reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Servicer

    Special Servicer
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and
    repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
    Servicer

 

     Exhibit L-2

     

    

 

	Servicing
    Criteria 	applicable
    

    Servicing 

    Criteria
	Reference	Criteria	 
	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements,
    and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters
    and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Servicer
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the
    obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements;
    (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and
    state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage
    loans, or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Servicer
	1122(d)(4)(xiv)	 Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Servicer
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB,
    is maintained as set forth in the transaction agreements.	N/A

 

     Exhibit L-3

     

    

 

EXHIBIT M

 

[RESERVED]

 

     Exhibit M-1

     

    

 

EXHIBIT N

 

FORM OF POWER OF ATTORNEY

 

RECORDING REQUESTED BY:

 

[_____________]

[_____________]

[_____________]

Attention: [_____________]

 

SPACE ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED POWER OF ATTORNEY

 

Wells Fargo Bank, National Association,
a national banking association organized and existing under the laws of the United States and having an office at 9062 Old Annapolis
Road, Columbia, Maryland 21045, not in its individual capacity but solely as Trustee (in such capacity, the “Trustee”),
hereby constitutes and appoints [__________] (the “[Servicer] [Special Servicer]”), as its true and lawful
attorney-in-fact (the “Attorney-in-Fact”), and in its name, aforesaid Attorney-In-Fact, by and through any authorized
representative appointed by the [Board of Directors] of the [Servicer] [Special Servicer], to execute and acknowledge in writing
or by facsimile stamp all documents customarily and reasonably necessary and appropriate for the tasks described in the items (1)
through (12) below; provided however, that the documents described below may only be executed and delivered by such Attorney-In-Fact
if such documents are required or permitted under the terms of the Trust and Servicing Agreement, dated as of December 6, 2016
(the “Agreement”) by and among GS Mortgage Securities Corporation II, as Depositor, [Midland Loan Services,
a Division of PNC Bank, National Association, as Servicer (the “Servicer”)] [the Servicer], [AEGON USA Realty
Advisors, LLC, as Special Servicer (the “Special Servicer”)] [the Special Servicer], and Wells Fargo Bank, National
Association, as Certificate Administrator (in such capacity, the “Certificate Administrator”) and Trustee (in
such capacity, the “Trustee”), on behalf of the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates,
Series 2016-350P and no power is granted hereunder to take any action that would be adverse to the interests of Wells Fargo Bank,
National Association.

 

This Limited Power of Attorney is being
issued in connection with the [Servicer’s] [Special Servicer’s] responsibilities to service a certain mortgage loan
(the “Loan”) held by Wells Fargo Bank, National Association, as Trustee. The Loan is comprised of a mortgage
(the “Mortgage”) and the Notes secured thereby. Capitalized terms used but not defined herein shall have the
respective meanings assigned thereto in the Agreement.

 

1.       Demand,
sue for, recover, collect and receive each and every sum of money, debt, account and interest (which now is, or hereafter shall
become due and payable) belonging to or claimed by Wells Fargo Bank, National Association, as Trustee, and to use or take any lawful
means for recovery by legal process or otherwise, including but not limited to the substitution of trustee serving under a deed
of trust, the preparation and issuance of statements of

 

     Exhibit N-1

     

    

 

breach, notices of default, and/or notices of sale, accepting deeds in
lieu of foreclosure, evicting (to the extent allowed by federal, state or local laws) and foreclosing on the property under the
Mortgage by judicial or non-judicial foreclosure, actions for temporary restraining orders, injunctions, appointments of receiver,
suits for waste, fraud and any and all other tort, contractual or other claims of whatever nature, including execution of any evidentiary
affidavits or verifications in support thereof, as may be necessary or advisable in any bankruptcy action, state or federal suit
or any other action.

 

2.       Execute
and/or file such documents and take such other action as is proper and necessary to defend Wells Fargo Bank, National Association,
as Trustee, in litigation and to resolve any litigation where the [Servicer] [Special Servicer] has an obligation to defend Wells
Fargo Bank, National Association, as Trustee, including but not limited to dismissal, termination, cancellation, rescission and
settlement.

 

3.       Transact
business of any kind regarding the Loan and the Property.

 

4.       Obtain
an interest in the Loan, Property and/or building thereon, as Wells Fargo Bank, National Association, Trustee’s act and deed,
to contract for, purchase, receive and take possession and evidence of title in and to the property and/or to secure payment of
a promissory note or performance of any obligation or agreement.

 

5.       Execute,
complete, indorse or file bonds, notes, the Mortgage, any deeds of trust and other contracts, agreements and instruments regarding
the Loan Borrower, the Loan and/or the Property, including but not limited to the execution of estoppel certificates, financing
statements, continuation statements, releases, satisfactions, assignments, loan modification agreements, payment plans, waivers,
consents, amendments, forbearance agreements, loan assumption agreements, subordination agreements, property adjustment agreements,
non-disturbance and attornment agreements, leasing agreements, management agreements, listing agreements, purchase and sale agreements,
and other instruments pertaining to the Mortgage or any deed of trust, and execution of deeds and associated instruments, if any,
conveying the Property, in the interest of Wells Fargo Bank, National Association, as Trustee.

 

6.       Endorse
on behalf of the undersigned all checks, drafts and/or other negotiable instruments made payable to the undersigned and draw upon,
replace, substitute, release or amend letters of credit as property securing the Loan.

 

7.       [RESERVED].

 

8.       Such
other actions and file such other instruments and certifications as are reasonably necessary to complete or accomplish the [Servicer’s]
[Special Servicer’s] duties and responsibilities under the Agreement.

 

9.       Execute
any document or perform any act described in items (3), (4), and (5) in connection with the termination of any Trust as necessary
to transfer ownership of the affected Loan to the entity (or its designee or assignee) possessing the right to obtain ownership
of the Loan.

 

     Exhibit N-2

     

    

 

10.       Subordinate
the lien of the Mortgage, any deed of trust, or deed to secure debt (i) for the purpose of refinancing Loans, where applicable,
or (ii) to an easement in favor of a public utility company or a government agency or unit with powers of eminent domain, including
but not limited to the execution of partial satisfactions and releases and partial reconveyances reasonably required for such purpose,
and the execution or requests to the trustees to accomplish the same.

 

11.       Convey
the Property to the mortgage insurer, or close the title to the Property to be acquired as real estate owner, or convey title to
real estate owned property (“REO Property”).

 

12.       Execute
and deliver the following documentation with respect to the sale of the REO Property acquired through a foreclosure or deed-in-lieu
of foreclosure, including, without limitation, listing agreements, purchase and sale agreements, grant / limited or special warranty
/ quit claim deeds or any other deed, but not general warranty deeds, causing the transfer of title of the Property to a party
contracted to purchase same, escrow instructions and any all documents necessary to effect the transfer of REO Property.

 

The undersigned gives said Attorney-in-Fact
full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to
carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could
do as of [date].

 

This appointment is to be construed
and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended
to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

The [Servicer] [Special Servicer] hereby
agrees to indemnify and hold Wells Fargo Bank, National Association, as Trustee, and its directors, officers, employees and agents
harmless from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses
or disbursements of any kind or nature whatsoever incurred by the Trustee by reason or result of the misuse of this Limited Power
of Attorney by the [Servicer] [Special Servicer]. The foregoing indemnity shall survive the termination of this Limited Power of
Attorney and the Agreement or the earlier resignation or removal of Wells Fargo Bank, National Association, as Trustee under the
Agreement.

 

     Exhibit N-3

     

    

 

IN WITNESS WHEREOF, Wells Fargo Bank,
National Association, as Trustee has caused these presents to be signed and acknowledged in its name and behalf by a duly elected
and authorized signatory this __________ day of ________________, 20[__].

 

	 	 	Wells Fargo Bank, National Association, as Trustee,
	 	 	 
	 	 	For VNDO Trust 2016-350P
	 	 	 
	 	 	By:	 
	Witness:	 	 	, Vice President
	 	 	 	 
	 	 	 	 
	Witness:	 	 	 
	 	 	 	 
	 	 	 	 
	Attest:                                                           Assistant Secretary	 	 	 

 

     Exhibit N-4

     

    

 

EXHIBIT O

 

FORM OF ERISA REPRESENTATION LETTER

 

[Date]

 

Wells Fargo Bank, National Association,

as Certificate Registrar 

600 South 4th Street, 7th
Floor, MAC: N9300-070 

Minneapolis, Minnesota 55479-0113

Attention: (CMBS) - VNDO Trust 2016-350P

 

Wells Fargo Bank, National
Association,

as Trustee 

9062 Old Annapolis Road 

Columbia, MD 21045 

Attention: Corporate Trust (CMBS) – VNDO Trust 2016-350P

 

[Transferor]

[______]

[______]

Attention: [______]

 

		Re:	VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series
2016-350P

 

Ladies and Gentlemen:

 

The undersigned (the “Purchaser”)
proposes to purchase [$_____________ initial Certificate Principal Amount] [_____% Percentage Interest] of VNDO Trust 2016-350P,
Commercial Mortgage Pass Through Certificates, Series 2016-350P, Class [_], CUSIP No. [____] (the “Certificates”),
issued pursuant to that certain Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator
and Trustee. Capitalized terms used and not otherwise defined herein have the respective meanings ascribed to such terms in the
Trust Agreement.

 

In connection with such transfer, the
undersigned hereby represents and warrants to you that, with respect to the Certificates, the Purchaser is not and will not be
(i) a retirement plan or other employee benefit plan or arrangement, including an individual retirement account or a Keogh plan,
which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or
Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or a governmental plan (as defined
in Section 3(32) of ERISA) or other plan that is subject to any federal, state or local law (“Similar Law”)
that is, to a material extent, similar to the foregoing provisions of ERISA or the Code (each, a “Plan”), or
(ii) a collective

 

     Exhibit O-1

     

    

 

investment fund, the assets of which are considered Plan assets under the U.S. Department of Labor Reg. Section
2510.3-101, as modified by Section 3(42) of ERISA or for purposes of Similar Law, an insurance company using assets of separate
accounts or general accounts which include assets of Plans (or which are deemed pursuant to ERISA or Similar Law to include assets
of Plans) or other Person acting on behalf of any such Plan or using the assets of any such Plan, other than (with respect to any
transfer of a Class E Certificate) an insurance company using assets of its general account under circumstances whereby such
purchase and the subsequent holding of Certificate(s) by such insurance company would be exempt from the prohibited transaction
provisions of ERISA and Section 4975 of the Code under Sections I and III of Prohibited Transaction Class Exemption 95-60 or, as
applicable, would not constitute a non-exempt violation of Similar Law.

 

IN WITNESS WHEREOF, the Purchaser hereby
executes this ERISA Representation Letter on the ___ day of _____, ____.

 

	 	Very truly yours,
	 	 	 
	 	[The Purchaser]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

     Exhibit O-2

     

    

 

EXHIBIT P

 

FORM OF NOTICE
TO PARTIES OF A CONTROL TERMINATION EVENT / CONSULTATION TERMINATION EVENT

 

[Date]

 

	Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210 

Attention: Executive Vice President – Division Head	
        AEGON USA Realty Advisors, LLC,

4333 Edgewood Road NE,

Cedar Rapids, IA 52499

Attention: Vice President, Special Servicing

	 	 
	
        Wells Fargo Bank, National Association

as Certificate Administrator 

        9062 Old Annapolis Road 

        Columbia, Maryland 21045-1951 

        Attention: Corporate Trust Services (CMBS)
	 

 

		Re:	VNDO Trust
2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P

 

THIS NOTICE IDENTIFIES THE AFFILIATION OF THE CONTROLLING
CLASS REPRESENTATIVE OR A HOLDER OF THE MAJORITY OF THE CONTROLLING CLASS WITH A BORROWER RELATED PARTY RELATING TO THE VNDO TRUST
2016-350P, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2016-350P, REQUIRING ACTION BY YOU AS THE RECIPIENT PURSUANT TO
SECTION 6.5(C) OF THE TRUST AND SERVICING AGREEMENT.

 

In accordance with Section 6.5(c) of the Trust and Servicing
Agreement, dated as of December 6, 2016 (the “Agreement”), between GS Mortgage Securities Corporation II, as
Depositor, Wells Fargo Bank, National Association, as Certificate Administrator and Trustee, Midland Loan Services, a Division
of PNC Bank, National Association, as Servicer, and AEGON USA Realty Advisors, LLC, as Special Servicer, with respect to the above-referenced
certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The undersigned
is [the Controlling Class Representative] [a holder of [__]% of the Controlling Class, by Certificate Balance,] as of the date
hereof.

 

2.       The undersigned
has become a Borrower Related Party with respect to the Trust Loan.

 

     Exhibit P-1

     

    

 

3.       If the undersigned
is either (a) a holder of 50% or more of the Controlling Class or (b) the Controlling Class Representative then each of the recipients
to this notice are hereby notified that a Consultation Termination Event and a Control Termination Event is hereby deemed to occur
with respect to the Trust Loan.

 

4.       The undersigned
agrees to indemnify and hold harmless each party to the Agreement, each Initial Purchaser and the Trust Fund from any damage, loss,
cost or liability (including legal fees and expenses and the cost of enforcing this indemnity) arising out of or resulting from
any unauthorized access by the undersigned or any agent, employee, representative or person acting on its behalf of any information
made available to Privileged Persons.

 

5.       The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

6.       The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.

 

Capitalized terms used but not defined herein have the respective
meanings given to them in the Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned has made the
representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.

 

	 	[Controlling Class Representative] [a Controlling Class Certificateholder]
	 	By:	 
	 	Name:
	 	Title:
	 	Phone:
	 	Email:
	 	Address 

 

     Exhibit P-2

     

    

 

EXHIBIT Q

 

FORM OF ONLINE VENDOR CERTIFICATION

 

This Certification has been prepared
for provision of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.
If you represent a Vendor Provider not listed herein and would like access to the information, please contact CTSLink at 866-846-4526,
or at ctslink.customerservice@wellsfargo.com.

 

In connection with the VNDO Trust
2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

1.       The
undersigned is an employee or agent of Bloomberg Financial Markets, L.P., Trepp, LLC, Intex Solutions, Inc., BlackRock Financial
Management Inc., Markit Group Limited, Thompson Reuters Corporation or Moody’s Analytics, a market data provider that has
been given access to the Distribution Date Statements, CREFC® reports and supplemental notices on www.ctslink.com
(“CTSLink”) by request of the Depositor.

 

2.       The
undersigned agrees that each time it accesses CTSLink, the undersigned is deemed to have recertified that the representation above
remains true and correct.

 

3.       The
undersigned acknowledges and agrees that the provision to it of information and/or reports on CTSLink is for its own use only,
and agrees that it will not disseminate or otherwise make such information available to any other person without the written consent
of the Depositor, and any confidentiality agreement applicable to the undersigned with respect to information obtained from the
Depositor’s 17g-5 Website shall also be applicable to information obtained from CTSLink.

 

4.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement, dated
as of December 6, 2016, by and among GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, a Division of
PNC Bank, National Association, as servicer, AEGON USA Realty Advisors, LLC, as special servicer, and Wells Fargo Bank, National
Association, as certificate administrator and trustee.

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.

 

    Exhibit Q-1 

     

    

 

 

	 	[                        ]
	 	 	 
		By:	 

 

		    Name:	 

 

		 Title:	 

 

		 Company:	 

 

		Phone:	 

 

    Exhibit Q-2 

     

    

 

EXHIBIT R

 

ADDITIONAL FORM
10-D DISCLOSURE

 

Solely in the event that a Companion
Loan is included in an Other Securitization which is subject to the Exchange Act reporting requirements of Regulation AB, the parties
identified in the “Party Responsible” column are obligated pursuant to Section 11.4 of the Trust and Servicing Agreement
to disclose to each Other Depositor and Other Exchange Act Reporting Party to which such information is relevant for Exchange Act
reporting purposes any information described in the corresponding Form 10-D Item described in the “Item on Form 10-D”
column to the extent such party has actual knowledge (and in the case of net operating income information, financial statements,
annual operating statements, budgets and/or rent rolls required to be provided in connection with Item 6 below, possession) of
such information (other than information as to itself). Each of the Certificate Administrator, the Trustee, the Servicer and the
Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Offering Circular and prospectus supplement
related to an Other Securitization Trust (other than information with respect to itself that is set forth in or omitted from the
Offering Circular or such prospectus supplement), in the absence of specific written notice to the contrary from the Depositor
or the Loan Sellers. Each of the Certificate Administrator, the Trustee, the Servicer and the Special Servicer (in its capacity
as such) shall be entitled to conclusively assume that there is no “significant obligor” other than a party or property
identified as such in the prospectus supplement related to an Other Securitization Trust and to assume that no other party or property
will constitute a “significant obligor” after the Cut-off Date. In no event shall the Servicer or the Special Servicer
be required to provide any information for inclusion in a Form 10-D that relates to any Mortgage Loan for which the Servicer or
the Special Servicer is not the Servicer or the Special Servicer, as the case may be. For this Series 2016-350P Trust and Servicing
Agreement, and any Other Securitization Trust, each of the Certificate Administrator, the Trustee, the Servicer and the Special
Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative
instruments within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item on Form 10-D	Party Responsible 
	
        Item 1: Distribution and Pool Performance Information

         

        Any information required by Item 1121 of Regulation
AB which is NOT included on the Distribution Date Statement
	
        Certificate Administrator

        Depositor

        Servicer

(only with respect to Item 1121(a)(12)

as to non-Specially Serviced Loans)

        Special Servicer

(only with respect to Item 1121(a)(12)

as to Specially Serviced Loans)

	
        Item 1A: Asset-Level Information

        disclosure per Items 1111(h) and 1125 of Regulation
AB
	Servicer
	
        Item 2: Legal Proceedings
	(i) All parties to the Trust and Servicing Agreement (as to themselves), (ii) any other 

 

    Exhibit R-1 

     

    

 

	per Item 1117 of Regulation AB	Reporting Servicer (as to itself), (iii) the Trustee, the Servicer and the Special Servicer as to the Trust (in the case of the Servicer and the Special Servicer, to be reported by the party controlling such litigation), (iv) each Loan Seller as to itself and as to each 1110(b) originator and 1100(d)(1) party relating to a Mortgage Loan sold by such Loan Seller to the Depositor, (v) the Depositor (as to any party under Item 1100(d)(1) of Regulation AB)
	Item 3:  Sale of Securities and Use of Proceeds	Depositor
	Item 4:  Defaults Upon Senior Securities	Certificate Administrator

Trustee
	Item 5:  Submission of Matters to a Vote of Security Holders	Certificate Administrator
	Item 6:  Significant Obligors of Pool Assets	
        Servicer (excluding information for which the
Special Servicer is the “Party Responsible”)

        Special Servicer (as to REO Properties)

	Item 7:  Significant Enhancement Provider Information	Depositor
	Item 9:  Other Information	Any party responsible for disclosure items on Form 8-K to the extent of such items
	Item 10:  Exhibits	
        Certificate Administrator (as to the Distribution
Date Statement)

        Depositor

 

    Exhibit R-2 

     

    

 

EXHIBIT S

 

ADDITIONAL FORM
10-K DISCLOSURE

 

Solely in the event that a Companion
Loan is included in an Other Securitization which is subject to the Exchange Act reporting requirements of Regulation AB, the parties
identified in the “Party Responsible” column are obligated pursuant to Section 11.5 of the Trust and Servicing Agreement
to disclose to each Other Depositor and Other Exchange Act Reporting Party to which such information is relevant for Exchange Act
reporting purposes any information described in the corresponding Form 10-K Item described in the “Item on Form 10-K”
column to the extent such party has actual knowledge (and in the case of net operating income information, financial statements,
annual operating statements, budgets and/or rent rolls required to be provided in connection with 1112(b) below, possession) of
such information (other than information as to itself). Each of the Certificate Administrator, the Trustee, the Servicer and the
Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Offering Circular and prospectus supplement
related to an Other Securitization Trust (other than information with respect to itself that is set forth in or omitted from the
Offering Circular or such prospectus supplement), in the absence of specific written notice to the contrary from the Depositor
or the Loan Sellers. Each of the Certificate Administrator, the Trustee, the Servicer and the Special Servicer (in its capacity
as such) shall be entitled to conclusively assume that there is no “significant obligor” other than a party or property
identified as such in the prospectus supplement related to an Other Securitization Trust and to assume that no other party or property
will constitute a “significant obligor” after the Cut-off Date. In no event shall the Servicer or the Special Servicer
be required to provide any information for inclusion in a Form 10-K that relates to any Mortgage Loan for which the Servicer or
the Special Servicer is not the applicable Servicer or Special Servicer, as the case may be. For this Series 2016-350P Trust and
Servicing Agreement, and any Other Securitization Trust, each of the Certificate Administrator, the Trustee, the Servicer and the
Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity
or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item on Form 10-K	Party Responsible 
	
        Item 1B: Unresolved Staff Comments

         
	Depositor
	Item 9B:  Other Information	Any party responsible for disclosure items on Form 8-K to the extent of such items
	Item 15:  Exhibits, Financial Statement Schedules	
        Certificate Administrator

        Depositor

	
        Additional Item:

         

        Disclosure per Item 1117 of Regulation AB
	(i) All parties to the Trust and Servicing Agreement (as to themselves), (ii) any other Reporting Servicer (as to itself), (iii) the Trustee, the Certificate Administrator, the Servicer, the Depositor and the Special Servicer as to the Trust (in the case of the 

 

    Exhibit S-1 

     

    

 

	 	Servicer, the Depositor and the Special Servicer, to be reported by the party controlling such litigation), (iv) each Loan Seller as to itself and as to each 1110(b) originator and 1100(d)(1) party relating to a Mortgage Loan sold by such Loan Seller to the Depositor, (v) the Depositor (as to any party under Item 1100(d)(1) of Regulation AB)
	
        Additional Item:

        Disclosure per Item 1119 of Regulation AB

         
	(i) All parties to the Trust and Servicing Agreement as to themselves (in the case of the Servicer, only as to 1119(a) affiliations with Significant Obligors identified in the Trust and Servicing Agreement, the Trustee, the Certificate Administrator, the Special Servicer or a sub-servicer described in 1108(a)(3) and, in the case of the Special Servicer, only as to 1119(a) affiliations with Significant Obligors identified in the Trust and Servicing Agreement, the Trustee, the Certificate Administrator, the Servicer or a sub-servicer described in 1108(a)(3)), (ii) the Depositor (as to the Trust), (iii) each Loan Seller as to itself and as to each 1110(b) originator and 1100(d)(1) party relating to a Mortgage Loan sold by such Loan Seller to the Depositor, (iv) the Depositor as to the enhancement or support provider, (v) the Depositor (as to any party under Item 1100(d)(1) of Regulation AB)
	
        Additional Item:

        Disclosure per Item 1112(b) of Regulation AB

         
	
        Servicer (excluding information for which the
Special Servicer is the “Party Responsible”)

        Special Servicer (as to REO Properties)

         

	
        Additional Item:

        Disclosure per Items 1114(b)(2) and 1115(b) of
Regulation AB
	Depositor

 

    Exhibit S-2 

     

    

 

EXHIBIT T

 

FORM 8-K DISCLOSURE
INFORMATION

 

Solely in the event that a Companion
Loan is included in an Other Securitization which is subject to the Exchange Act reporting requirements of Regulation AB, the parties
identified in the “Party Responsible” column are obligated pursuant to Section 11.6 of the Trust and Servicing Agreement
to report to each Other Depositor and Other Exchange Act Reporting Party to which such information is relevant for Exchange Act
reporting purposes the occurrence of any event described in the corresponding Form 8-K Item described in the “Item on Form
8-K” column to the extent such party has actual knowledge of such information (other than information as to itself). Each
of the Certificate Administrator, the Trustee, the Servicer and the Special Servicer (in its capacity as such) shall be entitled
to rely on the accuracy of the Offering Circular and prospectus supplement related to an Other Securitization Trust (other than
information with respect to itself that is set forth in or omitted from the Offering Circular or such prospectus supplement), in
the absence of specific written notice to the contrary from the Depositor or the Loan Sellers. Each of the Certificate Administrator,
the Trustee, the Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively assume that there
is no “significant obligor” other than a party or property identified as such in the prospectus supplement related
to an Other Securitization Trust and to assume that no other party or property will constitute a “significant obligor”
after the Cut-off Date. In no event shall the Servicer or the Special Servicer be required to provide any information for inclusion
in a Form 8-K that relates to any Mortgage Loan for which the Servicer or the Special Servicer is not the applicable Servicer or
Special Servicer, as the case may be. For this Series 2016-350P Trust and Servicing Agreement, and any Other Securitization Trust,
each of the Certificate Administrator, the Trustee, the Servicer and the Special Servicer (in its capacity as such) shall be entitled
to assume that there is no provider of credit enhancement, liquidity or derivative instruments within the meaning of Items 1114
or 1115 of Regulation AB.

 

	Item on Form 8-K	Party Responsible 
	Item 1.01- Entry into a Material Definitive Agreement	
        Servicer, Special Servicer and the Trustee (in
the case of the Servicer, Special Servicer and the Trustee, only as to agreements it is a party to or entered into on behalf of
the Trust)

Certificate Administrator (other than as to agreements to which the Depositor (and no other party to the Trust and Servicing Agreement)
is a party)

        Depositor

	Item 1.02- Termination of a Material Definitive Agreement	
        Servicer, Special Servicer and the Trustee (in
the case of the Servicer, Special Servicer and the Trustee, only as to agreements it is a party to or entered into on behalf of
the Trust)

        Certificate
Administrator (other than as to agreements to which the Depositor (and no other party to the Trust and Servicing

 

    Exhibit T-1 

     

    

 

	 	Agreement)
        is a party)

        Depositor
	Item 1.03- Bankruptcy or Receivership	Depositor

Each Loan Seller as to itself
	Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement	Depositor

Certificate Administrator
	Item 3.03- Material Modification to Rights of Security Holders	Certificate Administrator
	Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year	Depositor
	Item 6.01- ABS Informational and Computational Material	Depositor
	Item 6.02- Change of Servicer, Special Servicer or Trustee	
        Servicer (as to itself or a servicer retained
by it)

        Special Servicer (as to itself or a servicer
retained by it)

        Trustee

Certificate Administrator

Depositor

	Item 6.03- Change in Credit Enhancement or External Support	Depositor

Certificate Administrator
	Item 6.04- Failure to Make a Required Distribution	Certificate Administrator
	Item 6.05- Securities Act Updating Disclosure	Depositor
	Item 7.01- Regulation FD Disclosure	Depositor
	Item 8.01	Depositor
	Item 9.01	Depositor

 

    Exhibit T-2 

     

    

 

EXHIBIT U

 

ADDITIONAL DISCLOSURE
NOTIFICATION

 

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO cts.sec.notifications@wellsfargo.com
AND VIA OVERNIGHT MAIL TO THE ADDRESS IMMEDIATELY BELOW**

 

Wells Fargo Bank, National Association,

as Certificate Administrator 

600 South 4th Street, 7th
Floor, MAC: N9300-070 

Minneapolis, Minnesota 55479-0113

Attention: Certificate Transfers (CMBS) - VNDO Trust 2016-350P

 

RE: **Additional Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies and Gentlemen:

 

In accordance with Section [11.4] [11.5]
[11.6] of the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor (the “Depositor”), Midland Loan Services, a
Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank,
National Association, as Certificate Administrator and Trustee, the undersigned, as [           ], hereby notifies you that certain events
have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description
of Additional Form [10-D][10-K][8-K] Disclosure:

 

List of any Attachments hereto to be included in the Additional Form [10-D][10-K][8-K]
Disclosure:

 

Any inquiries related to this notification should be directed to [                       ],
phone number: [                       ];
email address: [                       ].

 

	 	[NAME OF PARTY],

as [role]
	 	 
	 	 By:	 
	 	 	Name:
Title:

cc: Depositor

 

    Exhibit U-1 

     

    

 

EXHIBIT V

 

INITIAL SUB-SERVICERS

 

[None.]

 

    Exhibit V-1 

     

    

 

EXHIBIT W

 

FORM OF BACKUP CERTIFICATION

 

VNDO Trust 2016-350P (the “Trust”)

 

I, [identify the certifying individual],
a [identify position] of [identify party], as [identify role] under that certain
Trust and Servicing Agreement dated as of December 6, 2016 (the “Trust and Servicing Agreement”), entered into
between GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as servicer, AEGON USA Realty Advisors, LLC, as special servicer, and Wells Fargo Bank, National Association, as trustee and certificate
administrator, on behalf of the [identify role], certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the
Depositor, and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification,
that:

 

		1.	Based on my knowledge, with respect
to the period ending [December 31, 20__] (the “Relevant Period”), all servicing information and all required
reports required to be submitted by the [identify role] to the applicable Other Exchange Act Reporting Party pursuant to
the Trust and Servicing Agreement for inclusion in the annual report on Form 10-K for the Relevant Period and inclusion in all
reports on Form 10-D or Form 8-K (the “Reports”) have been submitted by the [identify role] to the Servicer,
the Depositor, the Trustee or the Certificate Administrator, as applicable, for inclusion in these reports;

 

		2.	Based on my knowledge, the [identify role] information contained in the Reports, taken as a whole,
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made
therein, in light of the circumstances under which such statements were made, not misleading with respect to the period covered
by these reports;

 

		3.	I am, or an officer under my supervision
is, responsible for reviewing the activities performed by the [identify role] under the Trust and Servicing Agreement and
based upon my knowledge and the annual compliance reviews conducted in preparing the servicer compliance statements required in
this report under Item 1123 of Regulation AB with respect to the [identify role], and except as disclosed in the compliance certificate
delivered by the [identify role] under Section 11.7 of the Trust and Servicing Agreement, the [identify role] has fulfilled its
obligations under the Trust and Servicing Agreement in all material respects in the year to which such report applies;

 

		4.	The accountants that are to deliver
the annual attestation report on assessment of compliance with the Relevant Servicing Criteria in respect of the [identify role]
with respect to the Trust’s fiscal year _____ have been provided all information relating to the [identify role] assessment
of compliance with the Relevant Servicing Criteria, in order to enable them to conduct a review in compliance with the standards
for attestation engagements issued or adopted by the PCAOB; and

 

    Exhibit W-1 

     

    

 

		5.	The report on assessment of compliance
with servicing criteria applicable to the [identify role] for asset-backed securities with respect to the [identify role]
or any Servicing Function Participant retained by the [identify role] and related attestation report on assessment of compliance
with servicing criteria applicable to it required to be included in the annual report on Form 10-K for the Relevant Period in accordance
with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided to the Depositor and to the Certificate
Administrator for inclusion as an exhibit to such Form 10-K. Any material instances of noncompliance described in such reports
have been provided to the Certificate Administrator and the Depositor for disclosure in such annual report on Form 10-K.

 

Capitalized
terms used but not defined herein have the meanings set forth in the Trust and Servicing Agreement.

 

Date:________________________

 

	 	[IDENTIFY
PARTY]
	 	 
	 	 By:	 
	 	 	Name:
Title:

 

    Exhibit W-2 

     

    

 

EXHIBIT X

 

FORM OF NRSRO CERTIFICATION

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

 

		Attention:	Corporate Trust
Services (CMBS), VNDO Trust 2016-350P, Commercial Mortgage Pass Through Certificates, Series 2016-350P

 

In accordance with the requirements
for obtaining certain information pursuant to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank,
National Association, as Certificate Administrator and as Trustee with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is a Rating Agency hired by the Depositor to provide ratings on the Certificates;
or

 

		2.	The undersigned, a Nationally Recognized Statistical Rating Organization (“NRSRO”);

 

(A)       has
provided the Depositor with the appropriate certifications under Exchange Act 17g-5(e);

 

(B)       has
access to the Depositor’s 17g-5 website; and

 

(C)      agrees that the confidentiality agreement attached as Annex A hereto shall be applicable to the undersigned with respect
to information obtained from the Depositor’s 17g-5 website shall also be applicable to information obtained from the 17g-5 Information
Provider’s Website.

 

The undersigned shall be deemed to
have recertified to the provisions herein each time it accesses the Information on the Certificate Administrator’s Website
and the 17g-5 Information Provider’s Website.

 

Capitalized terms used but not defined
herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

     Exhibit X-1

     

    

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.

 

	Date:	 	 
	 	 	 
	 	Very truly yours,
	 	 
	 	[NRSRO Name]
	 	 	 
	By:

Name:

Title:

Phone:

E-mail:		 

 

     Exhibit X-2

     

    

 

ANNEX A

 

CONFIDENTIALITY AGREEMENT

 

This Confidentiality Agreement (the
“Confidentiality Agreement”) is made in connection with [_____] (together with its affiliates, the “Furnishing
Entities” and each a “Furnishing Entity”) furnishing certain financial, operational, structural and
other information relating to the issuance of the VNDO Trust 2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P
(the “Certificates”) pursuant to the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank,
National Association, as Certificate Administrator and Trustee, and the assets underlying or referenced by the Certificates, including
the identity of, and financial information with respect to borrowers, sponsors, guarantors, managers and lessees with respect to
such assets (together, the “Collateral”) to you (the “NRSRO”) through the website of Wells
Fargo Bank, National Association, as 17g-5 Information Provider under the Trust and Servicing Agreement, including the [section
of the 17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the Closing Date (as defined
in the Trust and Servicing Agreement)]. Information provided by each Furnishing Entity is labeled as provided by the specific Furnishing
Entity.

 

Definition
of Confidential Information. For purposes of this Confidentiality Agreement, the term “Confidential Information”
shall include the following information (irrespective of its source or form of communication, including information obtained by
you through access to this site) that may be furnished to you by or on behalf of a Furnishing Entity in connection with the issuance
or monitoring of a rating with respect to the Certificates: (x) all data, reports, interpretations, forecasts, records, agreements,
legal documents and other information (such information, the “Evaluation Material”) and (y) any of the terms,
conditions or other facts with respect to the transactions contemplated by the Trust and Servicing Agreement, including the status
thereof; provided, however, that the term Confidential Information shall not include information which:

 

		●	was or becomes generally available to the public (including through filing with the Securities
and Exchange Commission or disclosure in an offering document) other than as a result of a disclosure by you or a NRSRO Representative
(as defined below) in violation of this Confidentiality Agreement;

 

		●	was or is lawfully obtained by you from a source other than a Furnishing Entity or its representatives
that (i) is reasonably believed by you to be under no obligation to maintain the information as confidential and (ii) provides
it to you without any obligation to maintain the information as confidential; or

 

		●	is independently developed by the NRSRO without reference to any Confidential Information.

 

     Exhibit X-3

     

    

 

Information
to Be Held in Confidence.

 

You will use the Confidential Information
solely for the purpose of determining or monitoring a credit rating on the Certificates and, to the extent that any information
used is derived from but does not reveal any Confidential Information, for benchmarking, modeling or research purposes (the “Intended
Purpose”).

 

You acknowledge that you are aware
that the United States and state securities laws impose restrictions on trading in securities when in possession of material, non-public
information and that the NRSRO will advise (through policy manuals or otherwise) each NRSRO Representative who is informed of the
matters that are the subject of this Confidentiality Agreement to that effect.

 

You will treat the Confidential Information
as private and confidential. Subject to the terms herein, without the prior written consent of the applicable Furnishing Entity,
you will not disclose to any person any Confidential Information, whether such Confidential Information was furnished to you before,
on or after the date of this Confidentiality Agreement. Notwithstanding the foregoing, you may:

 

		●	disclose the Confidential Information to any of the NRSRO’s affiliates, directors, officers,
employees, legal representatives, agents and advisors (each, a “NRSRO Representative”) who, in the reasonable
judgment of the NRSRO, need to know such Confidential Information in connection with the Intended Purpose; provided, that, prior
to disclosure of the Confidential Information to a NRSRO Representative, the NRSRO shall have taken reasonable precautions to ensure,
and shall be satisfied, that such NRSRO Representative will act in accordance with this Confidentiality Agreement;

 

		●	solely to the extent required for compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),post
the Confidential Information to the NRSRO’s password protected website; and

 

		●	use information derived from the Confidential Information in connection with an Intended Purpose,
if such derived information does not reveal any Confidential Information.

 

Disclosures
Required by Law. If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory,
subpoena, civil investigatory demand, request for information or documents, deposition or similar process relating to any legal
proceeding, investigation, hearing or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing
Entity with notice as soon as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation,
and otherwise to the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request
to disclose the Confidential Information has been made so that the relevant Furnishing Entity may seek an appropriate protective
order or other reasonable assurance that confidential treatment will be accorded the Confidential Information if it so chooses.
Unless otherwise required by a court or other governmental or regulatory authority to do so, and

 

     Exhibit X-4

     

    

 

provided that you been informed
by written notice that the related Furnishing Entity is seeking a protective order or other reasonable assurance for confidential
treatment with respect to the requested Confidential Information, you agree not to disclose the Confidential Information while
the Furnishing Entity’s effort to obtain such a protective order or other reasonable assurance for confidential treatment
is pending. You agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order or other
reasonable assurance that confidential treatment will be accorded to the portion of the Confidential Information that is being
disclosed, at the sole expense of such Furnishing Entity; provided, however, that in no event shall the NRSRO be
required to take a position that such information should be entitled to receive such a protective order or reasonable assurance
as to confidential treatment. If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree to comply
with its terms with respect to the disclosure of the Confidential Information, at the sole expense of such Furnishing Entity. If
a protective order or other remedy is not obtained or if the relevant Furnishing Entity waives compliance with the provisions of
this Confidentiality Agreement in writing, you agree to furnish only such information as you are legally required to disclose,
at the sole expense of the relevant Furnishing Entity.

 

Obligation
to Return Evaluation Material. Promptly upon written request by or on behalf of the relevant Furnishing Entity, all
material or documents, including copies thereof, that contain Evaluation Material will be destroyed or, in your sole discretion,
returned to the relevant Furnishing Entity. Notwithstanding the foregoing, (a) the NRSRO may retain one or more copies of any document
or other material containing Evaluation Material to the extent necessary for legal or regulatory compliance (or compliance with
the NRSRO’s internal policies and procedures designed to ensure legal or regulatory compliance) and (b) the NRSRO may retain
any portion of the Evaluation Material that may be found in backup tapes or other archive or electronic media or other documents
prepared by the NRSRO and any Evaluation Material obtained in an oral communication; provided, that any Evaluation Material
so retained by the NRSRO will remain subject to this Confidentiality Agreement and the NRSRO will remain bound by the terms of
this Confidentiality Agreement.

 

Violations
of this Confidentiality Agreement.

 

The NRSRO will be responsible for
any breach of this Confidentiality Agreement by you, the NRSRO or any NRSRO Representative.

 

You agree promptly to advise each
relevant Furnishing Entity in writing of any misappropriation or unauthorized disclosure or use by any person of the Confidential
Information which may come to your attention and to take all steps reasonably requested by such Furnishing Entity to limit, stop
or otherwise remedy such misappropriation, or unauthorized disclosure or use.

 

You acknowledge and agree that the
Furnishing Entities would not have an adequate remedy at law and would be irreparably harmed in the event that any of the provisions
of this Confidentiality Agreement were not performed in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that each Furnishing Entity shall be entitled to specific performance and injunctive relief to prevent breaches
of this Confidentiality Agreement and to specifically enforce the terms and provisions hereof, in addition to any other remedy
to

 

     Exhibit X-5

     

    

 

which a Furnishing Entity may be entitled at law or in equity. It is further understood and agreed that no failure to or delay
in exercising any right, power or privilege hereunder shall preclude any other or further exercise of any right, power or privilege.

 

Term.
Notwithstanding the termination or cancellation of this Confidentiality Agreement and regardless of whether the NRSRO has provided
a credit rating on a Security, your obligations under this Confidentiality Agreement will survive indefinitely.

 

Governing
Law. This Confidentiality Agreement and any claim, controversy or dispute arising under the Confidentiality Agreement,
the relationships of the parties and/or the interpretation and enforcement of the rights and duties of the parties shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed within
such State.

 

Amendments.
This Confidentiality Agreement may be modified or waived only by a separate writing by the NRSRO and each Furnishing Entity.

 

Entire
Agreement. This Confidentiality Agreement represents the entire agreement between you and the Furnishing Entities relating
to the treatment of Confidential Information heretofore or hereafter reviewed or inspected by you. This agreement supersedes all
other understandings and agreements between us relating to such matters; provided, however, that, if the terms of
this Confidentiality Agreement conflict with another agreement relating to the Confidential Information that specifically states
that the terms of such agreement shall supersede, modify or amend the terms of this Confidentiality Agreement, then to the extent
the terms of this Confidentiality Agreement conflict with such agreement, the terms of such agreement shall control notwithstanding
acceptance by you of the terms hereof by entry into this website.

 

Contact
Information. Notices for each Furnishing Entity under this Confidentiality Agreement, shall be directed as set forth
below:

 

[_____________]

 

     Exhibit X-6

     

    

  

EXHIBIT Y-1

 

FORM OF TRANSFEROR CERTIFICATE FOR TRANSFER OF THE EXCESS
SERVICING FEE RIGHTS

 

[Date]

 

GS Mortgage Securities
Corporation II

200 West Street

New York, New York 10282-2198

Attention: Leah Nivison

 

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

 

		Attention:	VNDO Trust 2016-350P

Commercial Mortgage Pass-Through Certificates, Series 2016-350P

 

Ladies and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by _________________ (the “Transferor”) to _________________
(the “Transferee”) of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated
as of December 6, 2016 (the “Trust and Servicing Agreement”), by and among GS Mortgage Securities Corporation
II, as Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors,
LLC, as Special Servicer, and Wells Fargo Bank, National Association, as Certificate Administrator and Trustee. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Trust and Servicing Agreement.
The Transferee hereby certifies, represents and warrants to you, as Depositor, that:

 

1.       The
Transferor is the lawful owner of the right to receive the Excess Servicing Fees with respect to the Whole Loan for which _________________
is the Servicer (the “Excess Servicing Fee Right”), with the full right to transfer the Excess Servicing Fee
Right free from any and all claims and encumbrances whatsoever.

 

2.       Neither
the Transferor nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of the Excess
Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner,
(b) solicited any offer to buy or accept a transfer, pledge or other disposition of the Excess Servicing Fee Right, any interest
in the Excess Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated
with respect to the Excess Servicing Fee 

 

     Exhibit Y-1-1

     

    

 

Right, any interest in the Excess Servicing Fee Right or any other similar security with
any person in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the
Excess Servicing Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any
other action, which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution
of the Excess Servicing Fee Right under the Securities Act of 1933, as amended (the “Securities Act”), or would
render the disposition of the Excess Servicing Fee Right a violation of Section 5 of the Securities Act or any state securities
laws, or would require registration or qualification of the Excess Servicing Fee Right pursuant to the Securities Act or any state
securities laws.

	 	 	 
	 	Very truly yours,
	 	 	 
		By:	 
	 	 	Name:

Title:

 

     Exhibit Y-1-2

     

    

 

EXHIBIT Y-2

 

FORM OF TRANSFEREE CERTIFICATE FOR TRANSFER OF THE EXCESS
SERVICING FEE RIGHTS

 

[Date]

 

GS Mortgage Securities
Corporation II

200 West Street

New York, New York 10282-2198

Attention: Leah Nivison

 

Wells Fargo Bank, National Association,

as Certificate Administrator

9062 Old Annapolis Road

Columbia, MD 21045

Attention:  Corporate Trust Services VNDO 2016-350P

 

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head 

 

Attention:        VNDO Trust
2016-350P, Commercial Mortgage Pass-Through Certificates, Series 2016-350P

  

Ladies and Gentlemen:

 

This letter is delivered to you in
connection with the transfer by _________________ (the “Transferor”) to _________________ (the “Transferee”)
of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated as of December 6, 2016 (the “Trust
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Midland Loan Services, a
Division of PNC Bank, National Association, as Servicer, AEGON USA Realty Advisors, LLC, as Special Servicer, and Wells Fargo Bank,
National Association, as Certificate Administrator and Trustee. All capitalized terms used but not otherwise defined herein shall
have the respective meanings set forth in the Trust and Servicing Agreement. The Transferee hereby certifies, represents and warrants
to you, as the Depositor and the Servicer, that:

 

1.       The
Transferee is acquiring the right to receive Excess Servicing Fees with respect to the Whole Loan as to which __________________
is the applicable Servicer (the “Excess Servicing Fee Right”) for its own account for investment and not with
a view to or for sale or transfer in connection with any distribution thereof, in whole or in part, in any manner which would violate
the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws.

 

     Exhibit Y-2-1

     

    

 

2.       The
Transferee understands that (a) the Excess Servicing Fee Right has not been and will not be registered under the Securities Act
or registered or qualified under any applicable state securities laws, (b) none of the Depositor, the Trustee, the Certificate
Administrator or the Certificate Registrar is obligated so to register or qualify the Excess Servicing Fee Right, and (c) the
Excess Servicing Fee Right may not be resold or transferred unless it is (i) registered pursuant to the Securities Act and registered
or qualified pursuant to any applicable state securities laws or (ii) sold or transferred in transactions which are exempt from
such registration and qualification and (A) the Depositor has received a certificate from the prospective transferor substantially
in the form attached as Exhibit Y-1 to the Trust and Servicing Agreement, and (B) each of the Servicer and the Depositor have
received a certificate from the prospective transferee substantially in the form attached as Exhibit Y-2 to the Trust and Servicing
Agreement.

 

3.       The
Transferee understands that it may not sell or otherwise transfer the Excess Servicing Fee Right or any interest therein except
in compliance with the provisions of Section 3.17 of the Trust and Servicing Agreement, which provisions it has carefully reviewed.

 

4.       Neither
the Transferee nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred the Excess
Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner,
(b) solicited any offer to buy or accept a pledge, disposition or other transfer of the Excess Servicing Fee Right, any interest
in the Excess Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated
with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with
any person in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the
Excess Servicing Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any
other action with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar
security, which (in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution of
the Excess Servicing Fee Right under the Securities Act, would render the disposition of the Excess Servicing Fee Right a violation
of Section 5 of the Securities Act or any state securities law or would require registration or qualification of the Excess Servicing
Fee Right pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner
set forth in the foregoing sentence with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right
or any other similar security.

 

5.       The
Transferee has been furnished with all information regarding (a) the Depositor, (b) the Excess Servicing Fee Right and any payments
thereon, (c) the Trust and Servicing Agreement and the Trust Fund created pursuant thereto, (d) the nature, performance and servicing
of the Whole Loan, and (e) all related matters that it has requested.

 

6.       The
Transferee is (a) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act or (b)
an “accredited investor” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities
Act or an entity in which all of the equity owners come within such paragraphs. The Transferee has such knowledge and experience
in financial and business matters as to be capable of evaluating the merits and risks of an

 

     Exhibit Y-2-2

     

    

 

investment in the Excess Servicing
Fee Right; the Transferee has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment
decision; and the Transferee is able to bear the economic risks of such investment and can afford a complete loss of such investment.

 

7.       The
Transferee agrees (i) to keep all information relating to the Trust, the Trust Fund and the parties to the Trust and Servicing
Agreement, and made available to it, confidential, (ii) not to use or disclose such information in any manner which could result
in a violation of any provision of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificate
pursuant to the Securities Act, and (iii) not to disclose such information, and to cause its officers, directors, partners, employees,
agents or representatives not to disclose such information, in any manner whatsoever, in whole or in part, to any other Person
other than such holder’s auditors, legal counsel and regulators, except to the extent such disclosure is required by law,
court order or other legal requirement or to the extent such information is of public knowledge at the time of disclosure by such
holder or has become generally available to the public other than as a result of disclosure by such holder; provided, however,
that such holder may provide all or any part of such information to any other Person who is contemplating an acquisition of the
Excess Servicing Fee Right if, and only if, such Person (x) confirms in writing such prospective acquisition and (y) agrees in
writing to keep such information confidential, not to use or disclose such information in any manner which could result in a violation
of any provision of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificates pursuant
to the Securities Act and not to disclose such information, and to cause its officers, directors, partners, employees, agents or
representatives not to disclose such information, in any manner whatsoever, in whole or in part, to any other Person other than
such Persons’ auditors, legal counsel and regulators.

 

8.       The
Transferee acknowledges that the holder of the Excess Servicing Fee Right shall not have any rights under the Trust and Servicing
Agreement except as set forth in Section 3.17 of the Trust and Servicing Agreement, and that the Excess Servicing Fee Rate may
be reduced to the extent provided in the Trust and Servicing Agreement.

	 	 	 
		Very truly yours,

	 	 	 
		By:	 
	 	 	Name:

Title:

 

     Exhibit Y-2-3Exhibit 4.3

 

EXECUTION VERSION

 

GS MORTGAGE SECURITIES CORPORATION II,

as Depositor

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Master Servicer

 

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

as General Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as AMA Plaza Special Servicer

 

AEGON
USA REALTY ADVISORS, LLC,

as 225 Bush Street Special Servicer

 

WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Certificate Administrator

 

WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Trustee

 

and

 

PARK
BRIDGE LENDER SERVICES LLC,

as Operating Advisor and as Asset Representations Reviewer

 

POOLING AND SERVICING AGREEMENT

 

Dated as of

 

November 1, 2016

 

GS Mortgage Securities Trust 2016-GS4

Commercial Mortgage Pass-Through Certificates

 

Series 2016-GS4

 

    	 		 

     

    

 

TABLE OF CONTENTS

 

	 	 	 	 	Page
	 	 	 	 	 
	ARTICLE I
	 
	DEFINITIONS
	 
	Section 1.01	 	Defined Terms	 	8
	Section 1.02	 	Certain Calculations	 	153
	 	 	 	 	 
	ARTICLE II
	 
	CONVEYANCE OF MORTGAGE LOANS;
	ORIGINAL ISSUANCE OF CERTIFICATES
	 
	Section 2.01	 	Conveyance of Mortgage Loans and the Trust Subordinate Companion Loans	 	155
	Section 2.02	 	Acceptance by Trustee	 	159
	Section 2.03	 	Representations, Warranties and Covenants of the Depositor; Mortgage Loan Seller’s Repurchase or Substitution of Mortgage Loans and the Trust Subordinate Companion Loans for Defects in Mortgage Files and Breaches of Representations and Warranties	 	161
	Section 2.04	 	Execution of Certificates; Issuance of Lower-Tier Regular Interests; Issuance of Trust Subordinate Companion Loan REMIC Regular Interests	 	178
	Section 2.05	 	Creation of the Grantor Trust	 	179
	 	 	 	 	 
	ARTICLE III
	 
	ADMINISTRATION AND
	SERVICING OF THE TRUST FUND
	 
	Section 3.01	 	The Master Servicer to Act as Master Servicer; Special Servicers to Act as Special Servicers; Administration of the Mortgage Loans, the Serviced Companion Loans and REO Properties	 	179
	Section 3.02	 	Collection of Mortgage Loan Payments	 	187
	Section 3.03	 	Collection of Taxes, Assessments and Similar Items; Servicing Accounts	 	193
	Section 3.04	 	The Collection Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account, the Serviced Whole Loan Custodial Account, the Interest Reserve Account, the Gain-on-Sale Reserve Account, the Excess Interest Distribution Account, the Class PEZ Distribution Account and the Trust Subordinate Companion Loan REMIC Distribution Accounts	 	197

 

    	 		 

     

    

 

	Section 3.05	 	Permitted Withdrawals from the Collection Account, the Distribution Accounts and the Serviced Whole Loan Custodial Account	 	205
	Section 3.06	 	Investment of Funds in the Collection Account and the REO Accounts	 	219
	Section 3.07	 	Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage	 	221
	Section 3.08	 	Enforcement of Due-on-Sale Clauses; Assumption Agreements	 	226
	Section 3.09	 	Realization Upon Defaulted Mortgage Loans and Companion Loans	 	231
	Section 3.10	 	Trustee and Custodian to Cooperate; Release of Mortgage Files	 	235
	Section 3.11	 	Servicing Compensation	 	236
	Section 3.12	 	Inspections; Collection of Financial Statements	 	243
	Section 3.13	 	Access to Certain Information	 	248
	Section 3.14	 	Title to REO Property; REO Account	 	261
	Section 3.15	 	Management of REO Property	 	263
	Section 3.16	 	Sale of Defaulted Mortgage Loans and REO Properties	 	265
	Section 3.17	 	Additional Obligations of Master Servicer and Special Servicers	 	272
	Section 3.18	 	Modifications, Waivers, Amendments and Consents	 	275
	Section 3.19	 	Transfer of Servicing Between Master Servicer and Special Servicers; Recordkeeping; Asset Status Report	 	284
	Section 3.20	 	Sub-Servicing Agreements	 	291
	Section 3.21	 	Interest Reserve Account	 	295
	Section 3.22	 	Directing Holder and Operating Advisor Contact with Master Servicer and Special Servicers	 	295
	Section 3.23	 	Controlling Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of Directing Holder	 	295
	Section 3.24	 	Co-Lender Agreements	 	300
	Section 3.25	 	Rating Agency Confirmation	 	303
	Section 3.26	 	The Operating Advisor	 	305
	Section 3.27	 	Companion Paying Agent	 	312
	Section 3.28	 	Companion Register	 	313
	Section 3.29	 	Certain Matters Relating to the Non-Serviced Mortgage Loans	 	313
	Section 3.30	 	Delivery of Excluded Information to the Certificate Administrator	 	314
	Section 3.31	 	Trust Subordinate Companion Loan	 	315
	Section 3.32	 	Loan-Specific Directing Holder	 	317
	 	 	 	 	 
	ARTICLE IV
	 
	distributions TO CERTIFICATEHOLDERS
	 
	Section 4.01	 	Distributions	 	318
	Section 4.02	 	Distribution Date Statements; CREFC® Investor Reporting Packages; Grant of Power of Attorney	 	335
	Section 4.03	 	P&I Advances	 	342
	Section 4.04	 	Allocation of Realized Losses	 	345
	Section 4.05	 	Appraisal Reduction Amounts; Collateral Deficiency Amounts	 	347
	Section 4.06	 	Grantor Trust Reporting	 	354

 

    	 	-ii-	 

     

    

 

	Section 4.07	 	Investor Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document Request Tool	 	355
	Section 4.08	 	Secure Data Room	 	358
	 	 	 	 	 
	ARTICLE V
	 
	THE CERTIFICATES
	 
	Section 5.01	 	The Certificates	 	359
	Section 5.02	 	Form and Registration	 	360
	Section 5.03	 	Registration of Transfer and Exchange of Certificates	 	362
	Section 5.04	 	Mutilated, Destroyed, Lost or Stolen Certificates	 	369
	Section 5.05	 	Persons Deemed Owners	 	370
	Section 5.06	 	Access to List of Certificateholders’ Names and Addresses; Special Notices	 	370
	Section 5.07	 	Maintenance of Office or Agency	 	371
	Section 5.08	 	Appointment of Certificate Administrator	 	371
	Section 5.09	 	Exchangeable Certificates	 	372
	Section 5.10	 	Voting Procedures	 	373
	 	 	 	 	 
	ARTICLE VI
	 
	THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICERS, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER AND THE DIRECTING HOLDER
	 
	Section 6.01	 	Representations, Warranties and Covenants of the Master Servicer, Special Servicers, the Operating Advisor and the Asset Representations Reviewer	 	375
	Section 6.02	 	Liability of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicers and the Asset Representations Reviewer	 	381
	Section 6.03	 	Merger, Consolidation or Conversion of the Depositor, the Master Servicer, the Operating Advisor, the Special Servicers or the Asset Representations Reviewer	 	381
	Section 6.04	 	Limitation on Liability of the Depositor, the Master Servicer, the Special Servicers, the Operating Advisor, the Asset Representations Reviewer and Others	 	383
	Section 6.05	 	Depositor, Master Servicer and Special Servicers Not to Resign	 	388
	Section 6.06	 	Rights of the Depositor in Respect of the Master Servicer and the Special Servicers	 	389
	Section 6.07	 	The Master Servicer and the Special Servicers as Certificate Owner	 	389
	Section 6.08	 	The Directing Holder	 	389

 

    	 	-iii-	 

     

    

 

	 	 	 	 	 
	ARTICLE VII
	 
	SERVICER TERMINATION EVENTS
	 
	Section 7.01	 	Servicer Termination Events; Master Servicer and Special Servicers Termination	 	395
	Section 7.02	 	Trustee to Act; Appointment of Successor	 	405
	Section 7.03	 	Notification to Certificateholders	 	407
	Section 7.04	 	Waiver of Servicer Termination Events	 	408
	Section 7.05	 	Trustee as Maker of Advances	 	408
	 	 	 	 	 
	ARTICLE VIII
	 
	CONCERNING THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR
	 
	Section 8.01	 	Duties of the Trustee and the Certificate Administrator	 	409
	Section 8.02	 	Certain Matters Affecting the Trustee and the Certificate Administrator	 	410
	Section 8.03	 	Trustee and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans or the Trust Subordinate Companion Loans	 	413
	Section 8.04	 	Trustee or Certificate Administrator May Own Certificates	 	413
	Section 8.05	 	Fees and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and Certificate Administrator	 	413
	Section 8.06	 	Eligibility Requirements for Trustee and Certificate Administrator	 	415
	Section 8.07	 	Resignation and Removal of the Trustee and Certificate Administrator	 	415
	Section 8.08	 	Successor Trustee or Certificate Administrator	 	418
	Section 8.09	 	Merger or Consolidation of Trustee or Certificate Administrator	 	419
	Section 8.10	 	Appointment of Co-Trustee or Separate Trustee	 	419
	Section 8.11	 	Appointment of Custodians	 	420
	Section 8.12	 	Representations and Warranties of the Trustee	 	420
	Section 8.13	 	Provision of Information to Certificate Administrator, Master Servicer and Special Servicers	 	421
	Section 8.14	 	Representations and Warranties of the Certificate Administrator	 	422
	Section 8.15	 	Compliance with the PATRIOT Act	 	423
	 	 	 	 	 
	ARTICLE IX
	 
	TERMINATION
	 
	Section 9.01	 	Termination upon Repurchase or Liquidation of All Mortgage Loans	 	424
	Section 9.02	 	Additional Termination Requirements	 	428

 

    	 	-iv-	 

     

    

 

	 	 	 	 	 
	ARTICLE X
	 
	ADDITIONAL REMIC PROVISIONS
	 
	Section 10.01	 	REMIC Administration	 	429
	Section 10.02	 	Use of Agents	 	433
	Section 10.03	 	Depositor, Master Servicer and Special Servicers to Cooperate with Certificate Administrator	 	433
	Section 10.04	 	Appointment of REMIC Administrators	 	434
	 	 	 	 	 
	ARTICLE XI
	 
	EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE
	 
	Section 11.01	 	Intent of the Parties; Reasonableness	 	435
	Section 11.02	 	Succession; Subcontractors	 	435
	Section 11.03	 	Filing Obligations	 	437
	Section 11.04	 	Form 10-D Filings	 	438
	Section 11.05	 	Form 10-K Filings	 	441
	Section 11.06	 	Sarbanes-Oxley Certification	 	444
	Section 11.07	 	Form 8-K Filings	 	446
	Section 11.08	 	Form 15 Filing	 	447
	Section 11.09	 	Annual Compliance Statements	 	448
	Section 11.10	 	Annual Reports on Assessment of Compliance with Servicing Criteria	 	449
	Section 11.11	 	Annual Independent Public Accountants’ Attestation Report	 	451
	Section 11.12	 	Indemnification	 	452
	Section 11.13	 	Amendments	 	455
	Section 11.14	 	Regulation AB Notices	 	455
	Section 11.15	 	Certain Matters Relating to the Future Securitization of the Serviced Pari Passu Companion Loans	 	456
	Section 11.16	 	Certain Matters Regarding Significant Obligors	 	461
	Section 11.17	 	Impact of Cure Period	 	461
	 	 	 	 	 
	ARTICLE XII
	 
	the asset representations reviewer
	 
	Section 12.01	 	Asset Review	 	461
	Section 12.02	 	Payment of Asset Representations Reviewer Fees and Expenses; Limitation of Liability	 	468
	Section 12.03	 	Resignation of the Asset Representations Reviewer	 	469
	Section 12.04	 	Restrictions of the Asset Representations Reviewer	 	470
	Section 12.05	 	Termination of the Asset Representations Reviewer	 	470

 

    	 	-v-	 

     

    

 

	 	 	 	 	 
	ARTICLE XIII
	 
	MISCELLANEOUS PROVISIONS
	 
	Section 13.01	 	Amendment	 	473
	Section 13.02	 	Recordation of Agreement; Counterparts	 	477
	Section 13.03	 	Limitation on Rights of Certificateholders	 	478
	Section 13.04	 	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	 	479
	Section 13.05	 	Notices	 	479
	Section 13.06	 	Severability of Provisions	 	485
	Section 13.07	 	Grant of a Security Interest	 	485
	Section 13.08	 	Successors and Assigns; Third Party Beneficiaries	 	485
	Section 13.09	 	Article and Section Headings	 	486
	Section 13.10	 	Notices to the Rating Agencies	 	486
	Section 13.11	 	Cooperation with the Mortgage Loan Seller with Respect to Rights Under the Loan Agreements	 	488
	Section 13.12	 	PNC Bank, National Association	 	488
	 	 	 	 	 

 

    	 	-vi-	 

     

    

 

EXHIBITS

 

	Exhibit A-1	 	Form of Class A-1 Certificate
	Exhibit A-2	 	Form of Class A-2 Certificate
	Exhibit A-3	 	Form of Class A-3 Certificate
	Exhibit A-4	 	Form of Class A-4 Certificate
	Exhibit A-5	 	Form of Class A-AB Certificate
	Exhibit A-6	 	Form of Class X-A Certificate
	Exhibit A-7	 	Form of Class X-B Certificate
	Exhibit A-8	 	Form of Class X-D Certificate
	Exhibit A-9	 	Form of Class A-S Certificate
	Exhibit A-10	 	Form of Class B Certificate
	Exhibit A-11	 	Form of Class PEZ Certificate
	Exhibit A-12	 	Form of Class C Certificate
	Exhibit A-13	 	Form of Class D Certificate
	Exhibit A-14	 	Form of Class E Certificate
	Exhibit A-15	 	Form of Class F Certificate
	Exhibit A-16	 	Form of Class G Certificate
	Exhibit A-17	 	Form of Class AMA-A Certificate
	Exhibit A-18	 	Form of Class AMA-B Certificate
	Exhibit A-19	 	Form of Class AMA-C Certificate
	Exhibit A-20	 	Form of Class AMA-D Certificate
	Exhibit A-21	 	Form of Class X-AMA Certificate
	Exhibit A-22	 	Form of Class 225-A Certificate
	Exhibit A-23	 	Form of Class 225-B Certificate
	Exhibit A-24	 	Form of Class 225-C Certificate
	Exhibit A-25	 	Form of Class 225-D Certificate
	Exhibit A-26	 	Form of Class 225-E Certificate
	Exhibit A-27	 	Form of Class X-225 Certificate
	Exhibit A-28	 	Form of Class R Certificate
	Exhibit A-29	 	Form of Class S Certificate
	Exhibit B	 	Mortgage Loan Schedule
	Exhibit C	 	Form of Investment Representation Letter
	Exhibit D-1	 	Form of Transferee Affidavit
	Exhibit D-2	 	Form of Transferor Letter
	Exhibit E	 	Form of Request for Release
	Exhibit F-1	 	Form of ERISA Representation Letter regarding ERISA Restricted Certificates
	Exhibit F-2	 	Form of ERISA Representation Letter regarding Class R and Class S Certificates
	Exhibit G	 	Form of Distribution Date Statement
	Exhibit H	 	Supplemental Servicer Schedule
	Exhibit I	 	Form of Transfer Certificate for Rule 144A Book-Entry Certificate to Temporary Regulation S Book-Entry Certificate during Restricted Period
	Exhibit J	 	Form of Transfer Certificate for Rule 144A Book-Entry Certificate to Regulation S Book-Entry Certificate after Restricted Period

 

    	 	-vii-	 

     

    

 

	Exhibit K	 	Form of Transfer Certificate for Temporary Regulation S Book-Entry Certificate to Rule 144A Book-Entry Certificate during Restricted Period
	Exhibit L	 	Form of Transfer Certificate for Temporary Regulation S Book-Entry Certificate to Regulation S Book-Entry Certificate after Restricted Period
	Exhibit M	 	Form of Transfer Certificate for Non-Book Entry Certificate to Temporary Regulation S Book-Entry Certificate
	Exhibit N	 	Form of Transfer Certificate for Non-Book Entry Certificate to Regulation S Book-Entry Certificate
	Exhibit O	 	Form of Transfer Certificate for Non-Book Entry Certificate to Rule 144A Book-Entry Certificate
	Exhibit P-1A	 	Form of Investor Certification for Non-Borrower Party (for Persons other than the Directing Holder, the Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit P-1B	 	Form of Investor Certification for Non-Borrower Party (for the Directing Holder, Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit P-1C	 	Form of Investor Certification for Borrower Party (for Persons other than the Directing Holder, Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit P-1D	 	Form of Investor Certification for Borrower Party (for the Directing Holder, Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit P-1E	 	Form of Notice of Excluded Controlling Class Holder
	Exhibit P-1F	 	Form of Notice of Excluded Controlling Class Holder to Certificate Administrator
	Exhibit P-1G	 	Form of Certification of the Controlling Class Representative
	Exhibit P-2	 	Form of Certification for NRSROs
	Exhibit P-3	 	Online Market Data Provider Certification
	Exhibit Q	 	Custodian Certification/Exception Report
	Exhibit R-1	 	Form of Power of Attorney by Trustee for Master Servicer
	Exhibit R-2	 	Form of Power of Attorney by Trustee for [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer]
	Exhibit S	 	Initial Companion Holders
	Exhibit T	 	Form of Notice Relating to the Non-Serviced Mortgage Loans
	Exhibit U	 	Form of Notice and Certification Regarding Defeasance of Mortgage Loan
	Exhibit V	 	Form of Operating Advisor Annual Report
	Exhibit W	 	Form of Notice from Operating Advisor Recommending Replacement of [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer]
	Exhibit X	 	Form of Confidentiality Agreement
	Exhibit Y	 	Form Certification to be Provided with Form 10-K
	Exhibit Z-1	 	Form of Certification to be Provided to Depositor by Certificate Administrator
	Exhibit Z-2	 	Form of Certification to be Provided to Depositor by Master Servicer
	Exhibit Z-3	 	Form of Certification to be Provided to Depositor by [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer]

 

    	 	-viii-	 

     

    

 

	Exhibit Z-4	 	Form of Certification to be Provided to Depositor by Trustee
	Exhibit Z-5	 	Form of Certification to be Provided to Depositor by Operating Advisor
	Exhibit Z-6	 	Form of Certification to be Provided to Depositor by Custodian
	Exhibit Z-7	 	Form of Certification to be Provided to Depositor by Asset Representations Reviewer
	Exhibit AA	 	Servicing Criteria to be Addressed in Assessment of Compliance
	Exhibit BB	 	Additional Form 10-D Disclosure
	Exhibit CC	 	Additional Form 10-K Disclosure
	Exhibit DD	 	Form 8-K Disclosure Information
	Exhibit EE	 	Additional Disclosure Notification
	Exhibit FF	 	Initial Sub-Servicers
	Exhibit GG	 	Servicing Function Participants
	Exhibit HH	 	Form of Annual Compliance Statement
	Exhibit II	 	Form of Report on Assessment of Compliance with Servicing Criteria
	Exhibit JJ	 	CREFC® Payment Information
	Exhibit KK	 	Form of Notice of Additional Indebtedness Notification
	Exhibit LL	 	Form of Notice of Exchangeable Certificates for the Class PEZ Certificates
	Exhibit MM	 	Additional Disclosure Notification (Accounts)
	Exhibit NN	 	Form of Notice of Purchase of Controlling Class Certificate
	Exhibit OO	 	Form of Asset Review Report by the Asset Representations Reviewer
	Exhibit PP	 	Form of Asset Review Report Summary
	Exhibit QQ	 	Asset Review Procedures
	Exhibit RR	 	Form of Certification to Certificate Administrator Requesting Access to Secure Data Room
	Exhibit SS	 	Form of Notice of [Additional Delinquent Mortgage Loan][Cessation of Delinquent Mortgage Loan][Cessation of Asset Review Trigger]
	Exhibit TT-1	 	Form of Notice of Purchase of an AMA Plaza Controlling Class Certificate
	Exhibit TT-2	 	Form of Notice of Purchase of a 225 Bush Street Controlling Class Certificate

 

    	 	-ix-	 

     

    

 

SCHEDULES

	 	 	 
	Schedule 1	 	Mortgage Loans With Additional Debt
	Schedule 2	 	Class A-AB Scheduled Principal Balance Schedule
	Schedule 3	 	Mortgage Loans With “Performance”, “Earn-Out” or “Holdback” Escrows or Reserves

 

    	 	-x-	 

     

    

 

This Pooling and Servicing
Agreement is dated and effective as of November 1, 2016, among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo
Bank, National Association, as Master Servicer, Midland Loan Services, a Division of PNC Bank, National Association, as General
Special Servicer, Wells Fargo Bank, National Association, as AMA Plaza Special Servicer, AEGON USA Realty Advisors, LLC, as 225
Bush Street Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator, Wilmington Trust, National
Association, as Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer.

 

PRELIMINARY STATEMENT:

 

The Depositor intends
to sell commercial mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder
in multiple classes (each, a “Class”), which in the aggregate will evidence the entire ownership interest in
the Trust to be created hereunder, the primary assets of which will be a pool of commercial mortgage loans and two separate trust
subordinate companion loan interests, each in a related commercial mortgage loan. As provided herein, the Certificate Administrator
shall elect or shall cause an election to be made to treat designated portions of the Trust (exclusive of the Excess Interest and
the proceeds thereof in the Excess Interest Distribution Account and the Class A-S, Class B and Class C Regular Interests and the
proceeds thereof in the Class PEZ Distribution Account) for federal income tax purposes as four separate real estate mortgage investment
conduits (the “Upper-Tier REMIC”, the “Lower-Tier REMIC”, the “AMA Plaza Trust Subordinate
Companion Loan REMIC” and the “225 Bush Street Trust Subordinate Companion Loan REMIC”, and each a
“Trust REMIC” as described herein).

 

In addition, the parties
intend that the portions of the Trust Fund consisting of the Class A-S Specific Grantor Trust Assets, the Class B Specific Grantor
Trust Assets, the Class C Specific Grantor Trust Assets, the Class S Specific Grantor Trust Assets and the Class PEZ Specific Grantor
Trust Assets, shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code for federal income tax purposes
(the “Grantor Trust”). Solely for tax purposes, the Class A-S Certificates shall represent undivided beneficial
interests in the portion of the Grantor Trust consisting of the Class A-S Specific Grantor Trust Assets. The Class B Certificates
shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of the Class B Specific Grantor Trust
Assets. The Class C Certificates shall represent undivided beneficial interests in the portion of the Grantor Trust consisting
of the Class C Specific Grantor Trust Assets. The Class S Certificates shall represent undivided beneficial interests in the portion
of the Grantor Trust consisting of the Class S Specific Grantor Trust Assets. The Class PEZ Certificates shall represent undivided
beneficial interests in the portion of the Grantor Trust consisting of the Class PEZ Specific Grantor Trust Assets. As provided
herein, the Certificate Administrator shall take all actions expressly required hereunder to ensure that the portion of the Trust
Fund consisting of the Grantor Trust maintains its status as a grantor trust under federal income tax law and not be treated as
part of the Trust REMICs.

 

The Depositor intends
to sell the Certificates to the Underwriters, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

    -1-

     

    

 

TRUST SUBORDINATE COMPANION LOAN REMICS

 

The AMA Plaza Trust Subordinate
Companion Loan REMIC will hold the AMA Plaza Trust Subordinate Companion Loan and the proceeds of such Trust Subordinate Companion
Loan, together with its allocable share of any related property acquired by foreclosure or deed-in-lieu of foreclosure and will
issue the Class LAMA-A, Class LAMA-B, Class LAMA-C and Class LAMA-D Uncertificated Interests as the “regular interests”
in the AMA Plaza Trust Subordinate Companion Loan REMIC (the “AMA Plaza Trust Subordinate Companion Loan REMIC Regular
Interests”) and the uncertificated AMA-R Interest, which is the sole class of residual interests in the AMA Plaza Trust
Subordinate Companion Loan REMIC and is represented by the Class R Certificates. Any AMA Plaza Available Funds remaining in the
AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account after all required distributions under this Agreement have
been made to the related Loan-Specific Certificates will be deemed distributed to the AMA-R Interest and shall be payable to the
Holders of the Class R Certificates.

 

The 225 Bush Street Trust
Subordinate Companion Loan REMIC will hold the 225 Bush Street Trust Subordinate Companion Loan and the proceeds of such Trust
Subordinate Companion Loan, together with its allocable share of any related property acquired by foreclosure or deed-in-lieu of
foreclosure and will issue the Class L225-A, Class L225-B, Class L225-C, Class L225-D and Class L225-E Uncertificated Interests
as the “regular interests” in the 225 Bush Street Trust Subordinate Companion Loan REMIC (the “225 Bush Street
Trust Subordinate Companion Loan REMIC Regular Interests” and, together with the AMA Plaza Trust Subordinate Companion
Loan REMIC Regular Interests, the “Trust Subordinate Companion Loan REMIC Regular Interests”) and the uncertificated
BS-R Interest, which is the sole class of residual interests in the 225 Bush Street Trust Subordinate Companion Loan REMIC and
is represented by the Class R Certificates. Any 225 Bush Street Available Funds remaining in the 225 Bush Street Trust Subordinate
Companion Loan REMIC Distribution Account after all required distributions under this Agreement have been made to the related Loan-Specific
Certificates will be deemed distributed to the BS-R Interest and shall be payable to the Holders of the Class R Certificates.

 

The Holders of the Loan-Specific
Certificates shall only be entitled to receive distributions in respect of, and shall only incur losses with respect to, the related
Trust Subordinate Companion Loan, each of which is not part of the Mortgage Pool backing the Certificates other than the related
Loan-Specific Certificates. No Class of Certificates (other than applicable Loan-Specific Certificates and the Class R Certificates)
has an interest in the Trust Subordinate Companion Loans.

 

    -2-

     

    

 

	Class
                                         Designation
	Pass-Through
                                         Rate
	Original
                                         Lower-Tier

                                         Principal Amount

	Class LAMAA	(1)	$     16,118,000
	Class LAMAB	(1)	$     21,917,000
	Class LAMAC	(1)	$     27,032,000
	Class LAMAD	(1)	$     36,533,000
	Class L225A	(1)	$     12,964,000
	Class L225B	(1)	$     18,405,000
	Class L225C	(1)	$     22,576,000
	Class L225D	(1)	$     30,673,000
	Class L225E	(1)	$     28,382,000

 

 

		(1)	The pass-through
                                         rate for each Class of Trust Subordinate Companion Loan REMIC Regular Interests on any
                                         Distribution Date will equal the Net Mortgage Rate on the related Trust Subordinate Companion
                                         Loan.

 

LOWER-TIER REMIC

 

The Lower-Tier REMIC
will hold the Mortgage Loans (other than the AMA Plaza Trust Subordinate Companion Loan and the 225 Bush Street Trust Subordinate
Companion Loan) (exclusive of Excess Interest) and will issue the Class LA1, Class LA2, Class LA3, Class LA4, Class LAAB, Class
LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LG Uncertificated Interests (the “Lower-Tier Regular Interests”),
which will evidence the “regular interests” in the Lower-Tier REMIC created hereunder. The Lower-Tier REMIC will also
issue the uncertificated Class LR Interest, which is the sole Class of “residual interests” in the Lower-Tier REMIC
and is represented by the Class R Certificates.

 

The following table sets
forth the Original Lower-Tier Principal Amounts and per annum rates of interest for the Lower-Tier Regular Interests and
the Class LR Interest:

 

	
        Class
Designation
	
        Interest
Rate or Pass-Through Rate
	
        Original
Lower-Tier

Principal Amount

	Class LA1	(1)	$    31,820,000
	Class LA2	(1)	$  201,522,000
	Class LA3	(1)	$  175,000,000
	Class LA4	(1)	$  267,043,000
	Class LAAB	(1)	$    43,192,000
	Class LAS	(1)	$    92,388,000
	Class LB	(1)	$    48,761,000
	Class LC	(1)	$    43,628,000
	Class LD	(1)	$    53,893,000
	Class LE	(1)	$    21,814,000
	Class LF	(1)	$    10,266,000
	Class LG	(1)	$    37,212,204
	Class LR	N/A(2)	       N/A

 

    -3-

     

    

 

 

 

		(1)	The
                                         interest rate for each Class of Lower-Tier Regular Interests on any Distribution Date
                                         will be the Weighted Average Net Mortgage Rate for such Distribution Date.

 

		(2)	The
                                         Class LR Interest (evidenced by the Class R Certificates) will not have a Certificate
                                         Balance or Notional Amount, will not bear interest and will not be entitled to distributions
                                         of Yield Maintenance Charges. Any Available Funds remaining in the Lower-Tier REMIC Distribution
                                         Account after distributing the Lower-Tier Distribution Amount will be deemed distributed
                                         to the Class LR Interest and shall be payable to the Holders of the Class R Certificates.

 

UPPER-TIER REMIC

 

The Upper-Tier REMIC
will hold the Lower-Tier Regular Interests and the Trust Subordinate Companion Loan REMIC Regular Interests and will issue the
Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class D, Class E, Class F, Class G, Class
AMA-A, Class AMA-B, Class AMA-C, Class AMA-D, Class X-AMA, Class 225-A, Class 225-B, Class 225-C, Class 225-D, Class 225-E and
Class X-225 Certificates and the Class PEZ Regular Interests, representing the “regular interests” in the Upper-Tier
REMIC created hereunder. The Upper-Tier REMIC also will issue the uncertificated Class UR Interest, which is the sole Class of
“residual interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R
Certificates.

 

THE GRANTOR TRUST

 

The Class A-S, Class
B, Class C, Class S and Class PEZ Certificates shall each represent undivided beneficial interests in the portion of the Grantor
Trust consisting of the assets set forth opposite such Class in the following table, in each case as described herein. As provided
herein, the Certificate Administrator shall not take any actions that would cause the portions of the Trust Fund consisting of
the Grantor Trust (i) to fail to maintain its status as a “grantor trust” under federal income tax law or (ii) to be
treated as part of any Trust REMIC.

 

	
        Class
Designation
	
        Corresponding
Grantor Trust Assets

	Class A-S	Class A-S Specific Grantor Trust Assets
	Class B	Class B Specific Grantor Trust Assets
	Class C	Class C Specific Grantor Trust Assets
	Class S	Class S Specific Grantor Trust Assets
	Class PEZ	Class PEZ Specific Grantor Trust Assets

 

THE CERTIFICATES

 

The following table (and
related paragraphs) sets forth the designation, the pass-through rate (the “Pass-Through Rate”) and the aggregate
initial principal amount (the “Original Certificate Balance”) or Notional Amount (the “Original Notional
Amount”), as applicable, for each Class of Certificates and Class PEZ Regular Interest:

 

    -4-

     

    

 

	
        Corresponding
Certificates
	
        Initial
Pass-Through Rate
	
        Original
Certificate 

Balance or Notional 

Amount

	Class A-1 Certificates	1.731%	 $	 31,820,000	 
	Class A-2 Certificates	2.905%	 $	 201,522,000	 
	Class A-3 Certificates	3.178%	 $	 175,000,000	 
	Class A-4 Certificates	3.442%	 $	267,043,000	 
	Class A-AB Certificates	3.278%	 $	 43,192,000	 
	Class X-A Certificates	0.605%(1)	 $	 810,965,000	(2)
	Class X-B Certificates	0.101%(1)	 $	48,761,000	(2)
	Class A-S Certificates(3)	3.645%	 $	 92,388,000	 
	Class A-S Regular Interest	3.645%	 $	 92,388,000	 
	Class B Certificates(4)	3.703%	 $	 48,761,000	 
	Class B Regular Interest	3.703%	 $	 48,761,000	 
	Class C Certificates(5)	3.804%	 $	 43,628,000	 
	Class C Regular Interest	3.804%	 $	 43,628,000	 
	Class PEZ Certificates(6)	(6)	 $	 0	 
	Class D Certificates	3.233%	 $	 53,893,000	 
	Class X-D Certificates	0.571%(1)	 $	53,893,000	(2)
	Class E Certificates	3.804%	 $	 21,814,000	 
	Class F Certificates	3.804%	 $	 10,266,000	 
	Class G Certificates	3.804%	 $	 37,212,204	 
	Class R Certificates	N/A(7)	N/A
	Class AMA-A Certificates	3.199416%	 $	 16,118,000	 
	Class AMA-B Certificates	3.503849%	 $	21,917,000	 
	Class AMA-C Certificates	3.813991%	 $	 27,032,000	 
	Class AMA-D Certificates	3.557285%	 $	 36,533,000	 
	Class X-AMA Certificates	0.000000%(1)	 $	 101,600,000	(2)
	Class 225-A Certificates	2.635985%	 $	 12,964,000	 
	Class 225-B Certificates	2.993892%	 $	 18,405,000	 
	Class 225-C Certificates	3.777571%	 $	 22,576,000	 
	Class 225-D Certificates	4.766193%	 $	 30,673,000	 
	Class 225-E Certificates	5.544562%	 $	 28,382,000	 
	Class X-225 Certificates	0.000000%(1)	 $	 113,000,000	(2)

 

 

 

		(1)	The
                                         Pass-Through Rate for the Class X-A Certificates will be calculated in accordance with
                                         the definition of “Class X-A Pass-Through Rate”. The Pass-Through Rate for
                                         the Class X-B Certificates will be calculated in accordance with the definition of “Class
                                         X-B Pass-Through Rate”. The Pass-Through Rate for the Class X-D Certificates will
                                         be calculated in accordance with the definition of “Class X-D Pass-Through Rate”.
                                         The Pass-Through Rate for the Class X-AMA Certificates will be calculated in accordance
                                         with the definition of “Class X-AMA Pass-Through Rate”. The Pass-Through
                                         Rate for the Class X-225 Certificates will be calculated in accordance with the definition
                                         of “Class X-225 Pass-Through Rate”.

 

		(2)	None
                                         of the Class X-A, Class X-B, Class X-D, Class X-AMA or Class X-225 Certificates will
                                         have a Certificate Balance; rather, such Classes of Certificates will accrue interest
                                         as provided herein on the Class X-A Notional Amount, the Class X-B Notional Amount, the
                                         Class X-D Notional Amount, the Class X-AMA Notional Amount and the Class X-225 Notional
                                         Amount, as applicable.

 

		(3)	The
                                         Class A-S Certificates represent a beneficial ownership interest in the Class A-S Percentage
                                         Interest of the Class A-S Regular Interest. The aggregate Certificate Balance of the
                                         Class A-S Certificates and the Class PEZ Component A-S will at all times equal the Certificate
                                         Balance of the Class A-S Regular Interest.

 

		(4)	The
                                         Class B Certificates represent a beneficial ownership interest in the Class B Percentage
                                         Interest of the Class B Regular Interest. The aggregate Certificate Balance of the Class
                                         B Certificates and the Class PEZ Component B will at all times equal the Certificate
                                         Balance of the Class B Regular Interest.

 

    -5-

     

    

 

		(5)	The
                                         Class C Certificates represent a beneficial ownership interest in the Class C Percentage
                                         Interest of the Class C Regular Interest. The aggregate Certificate Balance of the Class
                                         C Certificates and the Class PEZ Component C will at all times equal the Certificate
                                         Balance of the Class C Regular Interest.

 

		(6)	The
                                         Class PEZ Certificates are not regular interests in the Upper-Tier REMIC, but represent
                                         a beneficial ownership interest in the Class PEZ Components. The Class PEZ Certificates
                                         will not have a Pass-Through Rate, but will be entitled to receive the sum of interest
                                         distributable on the Class PEZ Components.

 

		(7)	The
                                         Class R Certificates will not have a Certificate Balance or a Notional Amount, bear interest
                                         or be entitled to distributions of Yield Maintenance Charges. Any Available Funds remaining
                                         in the Upper-Tier REMIC Distribution Account, after all required distributions under
                                         this Agreement have been made to each Class of Regular Certificates and the Class PEZ
                                         Regular Interests will be deemed distributed to the Class UR Interest and shall be payable
                                         to the Holders of the Class R Certificates.

 

As of the close of business
on the Cut-off Date, the Mortgage Loans had an aggregate principal balance, after application of all payments of principal due
on or before such date, whether or not received, equal to $1,026,539,204. The principal balance of the AMA Plaza Trust Subordinate
Companion Loan as of the Cut-off Date was approximately $101,600,000. The principal balance of the 225 Bush Street Trust Subordinate
Companion Loan as of the Cut-off Date was approximately $113,000,000.

 

The AMA Plaza Whole Loan
consists of the AMA Plaza Mortgage Loan, the AMA Plaza Pari Passu Companion Loan and the AMA Plaza Subordinate Companion Loans.
The AMA Plaza Mortgage Loan and the AMA Plaza Pari Passu Companion Loan are pari passu with each other. The AMA Plaza Trust
Subordinate Companion Loan is subordinate to the AMA Plaza Mortgage Loan and the AMA Plaza Pari Passu Companion Loan and will be
evidenced by the AMA Plaza Loan-Specific Certificates. The AMA Plaza Non-Trust Subordinate Companion Loan is subordinate to the
AMA Plaza Mortgage Loan, the AMA Plaza Pari Passu Companion Loan and the AMA Plaza Trust Subordinate Companion Loan. The AMA Plaza
Mortgage Loan and the AMA Plaza Trust Subordinate Companion Loan are part of the Trust Fund. The AMA Plaza Pari Passu Companion
Loan and the AMA Plaza Non-Trust Subordinate Companion Loan are not part of the Trust Fund. The AMA Plaza Mortgage Loan, the AMA
Plaza Pari Passu Companion Loan and the AMA Plaza Subordinate Companion Loans will be serviced and administered in accordance with
this Agreement and the AMA Plaza Co-Lender Agreement.

 

The 225 Bush Street Whole
Loan consists of the 225 Bush Street Mortgage Loan, the 225 Bush Street Pari Passu Companion Loan and the 225 Bush Street Trust
Subordinate Companion Loan. The 225 Bush Street Mortgage Loan and the 225 Bush Street Pari Passu Companion Loan are pari passu
with each other. The 225 Bush Street Trust Subordinate Companion Loan is subordinate to the 225 Bush Street Mortgage Loan and the
225 Bush Street Pari Passu Companion Loan and will be evidenced by the 225 Bush Street Loan-Specific Certificates. The 225 Bush
Street Mortgage Loan and the 225 Bush Street Trust Subordinate Companion Loan are part of the Trust Fund. The 225 Bush Street Pari
Passu Companion Loan is not part of the Trust Fund. The 225 Bush Street Mortgage Loan, the 225 Bush Street Pari Passu Companion
Loan and the 225 Bush Street Trust Subordinate Companion Loan will be serviced and administered in accordance with this Agreement
and the 225 Bush Street Co-Lender Agreement.

 

The U.S. Industrial Portfolio
Whole Loan consists of the U.S. Industrial Portfolio Mortgage Loan and the U.S. Industrial Portfolio Pari Passu Companion Loans.
The U.S.

 

    -6-

     

    

 

Industrial Portfolio Mortgage Loan and the U.S. Industrial Portfolio Pari Passu Companion Loans are pari passu
with each other. The U.S. Industrial Portfolio Mortgage Loan is part of the Trust Fund. The U.S. Industrial Portfolio Pari Passu
Companion Loans are not part of the Trust Fund. The U.S. Industrial Portfolio Mortgage Loan and the U.S. Industrial Portfolio Pari
Passu Companion Loans will be serviced and administered in accordance with the GSMS 2016-GS3 Pooling and Servicing Agreement and
the U.S. Industrial Portfolio Co-Lender Agreement.

 

The Simon Premium Outlets
Whole Loan consists of the Simon Premium Outlets Mortgage Loan and the Simon Premium Outlets Pari Passu Companion Loan. The Simon
Premium Outlets Mortgage Loan and the Simon Premium Outlets Pari Passu Companion Loan are pari passu with each other. The
Simon Premium Outlets Mortgage Loan is part of the Trust Fund. The Simon Premium Outlets Pari Passu Companion Loan is not part
of the Trust Fund. The Simon Premium Outlets Mortgage Loan and the Simon Premium Outlets Pari Passu Companion Loan will be serviced
and administered in accordance with this Agreement and the Simon Premium Outlets Co-Lender Agreement.

 

The 540 West Madison
Whole Loan consists of the 540 West Madison Mortgage Loan, the 540 West Madison Pari Passu Companion Loan and the 540 West Madison
Subordinate Companion Loans. The 540 West Madison Mortgage Loan and the 540 West Madison Pari Passu Companion Loan are pari
passu with each other. The 540 West Madison Subordinate Companion Loans are subordinate to the 540 West Madison Mortgage Loan
and the 540 West Madison Pari Passu Companion Loan. The 540 West Madison Mortgage Loan is part of the Trust Fund. The 540 West
Madison Pari Passu Companion Loan and the 540 West Madison Subordinate Companion Loans are not part of the Trust Fund. The 540
West Madison Mortgage Loan, the 540 West Madison Pari Passu Companion Loan and the 540 West Madison Subordinate Companion Loans
will be serviced and administered in accordance with the GSMS 2016-GS3 Pooling and Servicing Agreement and the 540 West Madison
Co-Lender Agreement.

 

The Hamilton Place Whole
Loan consists of the Hamilton Place Mortgage Loan and the Hamilton Place Pari Passu Companion Loan. The Hamilton Place Mortgage
Loan and the Hamilton Place Pari Passu Companion Loan are pari passu with each other. The Hamilton Place Mortgage Loan is
part of the Trust Fund. The Hamilton Place Pari Passu Companion Loan is not part of the Trust Fund. The Hamilton Place Mortgage
Loan and the Hamilton Place Pari Passu Companion Loan will be serviced and administered in accordance with the GSMS 2016-GS3 Pooling
and Servicing Agreement and the Hamilton Place Co-Lender Agreement.

 

The Embassy Suites Portland
Airport Whole Loan consists of the Embassy Suites Portland Airport Mortgage Loan and the Embassy Suites Portland Airport Pari Passu
Companion Loan. The Embassy Suites Portland Airport Mortgage Loan and the Embassy Suites Portland Airport Pari Passu Companion
Loan are pari passu with each other. The Embassy Suites Portland Airport Mortgage Loan is part of the Trust Fund. The Embassy
Suites Portland Airport Pari Passu Companion Loan is not part of the Trust Fund. The Embassy Suites Portland Airport Mortgage Loan
and the Embassy Suites Portland Airport Pari Passu Companion Loan will be serviced and administered in accordance with the GSMS
2016-GS3 Pooling and Servicing Agreement and the Embassy Suites Portland Airport Co-Lender Agreement.

 

    -7-

     

    

 

The Residence Inn and
SpringHill Suites North Shore Whole Loan consists of the Residence Inn and SpringHill Suites North Shore Mortgage Loan and the
Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans. The Residence Inn and SpringHill Suites North Shore
Mortgage Loan and the Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans are pari passu with each
other. The Residence Inn and SpringHill Suites North Shore Mortgage Loan is part of the Trust Fund. The Residence Inn and SpringHill
Suites North Shore Pari Passu Companion Loans are not part of the Trust Fund. The Residence Inn and SpringHill Suites North Shore
Mortgage Loan and the Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans will be serviced and administered
in accordance with the GSMS 2016-GS2 Pooling and Servicing Agreement and the Residence Inn and SpringHill Suites North Shore Co-Lender
Agreement.

 

In consideration of the
mutual agreements herein contained, the parties hereto agree as follows:

 

Article
I

DEFINITIONS

 

Section
1.01     Defined Terms. Whenever used in this Agreement, including in the Preliminary Statement, the following
capitalized terms, unless the context otherwise requires, shall have the meanings specified in this Article.

 

“10-K Filing
Deadline”: As defined in Section 11.05(a).

 

“15Ga-1 Notice”:
As defined in Section 2.03(b).

 

“15Ga-1 Notice
Provider”: As defined in Section 2.03(b).

 

“15Ga-1 Repurchase
Request”: As defined in Section 2.03(b).

 

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

 

“17g-5 Information
Provider’s Website”: The 17g-5 Information Provider’s Internet website, which shall initially be located
within the Certificate Administrator’s Website (initially “www.ctslink.com”), under the “NRSRO” tab
on the page relating to this transaction.

 

“225 Bush Street
Assumed Scheduled Payment”: For any Collection Period and with respect to the 225 Bush Street Trust Subordinate Companion
Loan that is delinquent in respect of its Balloon Payment (excluding, for purposes of determining or making P&I Advances, the
portion allocable to the 225 Bush Street Mortgage Loan), an amount equal to the sum of (a) the principal portion of the Periodic
Payment that would have been due on such Trust Subordinate Companion Loan on the related Due Date based on the constant payment
required by the related Mortgage Note or the original amortization schedule of such Trust Subordinate Companion Loan (as calculated
with interest at the related Mortgage Rate), if applicable, assuming such Balloon Payment has not become due, after giving effect
to any reduction in the principal balance thereof occurring in connection with a modification of such Trust Subordinate

 

    -8-

     

    

 

Companion
Loan in connection with a default or bankruptcy (or similar proceeding), and (b) interest on the Stated Principal Balance of such
Trust Subordinate Companion Loan (excluding, for purposes of determining P&I Advances, the portion allocable to any related
Trust Subordinate Companion Loan, if applicable) at the applicable Mortgage Rate (net of interest at the Servicing Fee Rate).

 

“225 Bush Street
Available Funds”: With respect to any Distribution Date, an amount equal to the sum of (without duplication) (which,
for the avoidance of doubt, will not include any amounts received in respect of the Mortgage Loans):

 

(a)       the
aggregate amount of all cash received on the 225 Bush Street Trust Subordinate Companion Loan (including the portion of Loss of
Value Payments deposited into the Collection Account pursuant to Section 3.05(g) of this Agreement) and any REO Property
(including Compensating Interest Payments with respect to the 225 Bush Street Trust Subordinate Companion Loan required to be deposited
by the Master Servicer pursuant to Section 3.17(a)) on deposit in the Collection Account (in each case, exclusive of any
amount on deposit in or credited to any portion of the Collection Account that is held for the benefit of the holder of any Mortgage
Loan, Companion Holders or the holders of the Pooled Certificates, the AMA Plaza Loan-Specific Certificates or the Trust Components),
as of the close of business on the related Master Servicer Remittance Date, exclusive of (without duplication):

 

(i)        all
Periodic Payments paid by the Mortgagors of the 225 Bush Street Trust Subordinate Companion Loan that are due on a Due Date following
the end of the related Collection Period;

 

(ii)       all
unscheduled Principal Prepayments (together with any related payments of interest allocable to the period following the related
Due Date for the Trust Subordinate Companion Loan), Liquidation Proceeds, Insurance and Condemnation Proceeds and other unscheduled
recoveries, in each case, received subsequent to the related Determination Date (or, with respect to voluntary Principal Prepayments
for the 225 Bush Street Trust Subordinate Companion Loan with a Due Date occurring after the related Determination Date, subsequent
to the related Due Date) allocable to the 225 Bush Street Trust Subordinate Companion Loan;

 

(iii)      (A)
all amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xviii),
inclusive, and (xxi) of Section 3.05(a); (B) all amounts payable or reimbursable to any Person from the Lower-Tier
REMIC Distribution Account pursuant to clauses (ii) through (vii), inclusive, of Section 3.05(b); and (C)
any Net Investment Earnings contained therein;

 

(iv)      with
respect to the 225 Bush Street Trust Subordinate Companion Loan and any Distribution Date occurring in (1) each February or (2)
any January in a year that is not a leap year (in each case, unless the related Distribution Date is the final Distribution Date),
an amount equal to one (1) day of interest on the

 

    -9-

     

    

 

Stated Principal Balance of the 225 Bush Street Trust Subordinate Companion Loan
as of the Due Date in the month preceding the month in which such Distribution Date occurs at the related Net Mortgage Rate to
the extent such amounts are Withheld Amounts related to the 225 Bush Street Trust Subordinate Companion Loan;

 

(v)       all
Yield Maintenance Charges allocable to the 225 Bush Street Trust Subordinate Companion Loan;

 

(vi)      all
amounts deposited in the Collection Account in error; and

 

(vii)     any
Penalty Charges allocable to the 225 Bush Street Trust Subordinate Companion Loan;

 

(b)       if
and to the extent not already included in clause (a) hereof, the aggregate amount transferred from the REO Accounts allocable
to the 225 Bush Street Trust Subordinate Companion Loan to the Collection Account for such Distribution Date pursuant to Section
3.14(c);

 

(c)       the
aggregate amount of any Compensating Interest Payments made by the Master Servicer with respect to the 225 Bush Street Trust Subordinate
Companion Loan with respect to such Distribution Date and P&I Advances made by the Master Servicer or the Trustee, as applicable,
with respect to the Mortgage Loans and the Distribution Date (net of the related Certificate Administrator/Trustee Fee, Operating
Advisor Fee, CREFC® Intellectual Property Royalty License Fee and Asset Representations Reviewer Fee with
respect to the Mortgage Loans for which such P&I Advances are made) pursuant to Section 4.03 or Section 7.05;
and

 

(d)       with
respect to the 225 Bush Street Trust Subordinate Companion Loan and any Distribution Date occurring in each March (or February,
if the related Distribution Date is the final Distribution Date), the Withheld Amounts related to the 225 Bush Street Trust Subordinate
Companion Loan remitted to the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account pursuant to Section
3.21(b).

 

Notwithstanding the investment
of funds held in the Collection Account pursuant to Section 3.06, for purposes of calculating the 225 Bush Street Available
Funds, the amounts so invested shall be deemed to remain on deposit in such account.

 

“225 Bush Street
Base Interest Fraction”: With respect to any Principal Prepayment on the 225 Bush Street Trust Subordinate Companion
Loan and with respect to any Class of Class 225-A, Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates, is a fraction
(a) whose numerator is the greater of (x) zero and (y) the difference between (i) the Pass-Through Rate on such Class of Certificates,
as applicable, and (ii) the discount rate used in accordance with the related Mortgage Loan documents in calculating the Yield
Maintenance Charge with respect to such Principal Prepayment and (b) whose denominator is the greater of (x) zero and (y) the difference
between (i) the Mortgage Rate on the 225 Bush Street Trust Subordinate Companion Loan, and (ii) the discount rate used in accordance
with the related Mortgage Loan documents in calculating the Yield Maintenance Charge with respect to such

 

    -10-

     

    

 

Principal Prepayment.
However, (1) under no circumstances shall the 225 Bush Street Base Interest Fraction be greater than one or less than zero, (2)
if such discount rate is greater than or equal to the Mortgage Rate on such Trust Subordinate Companion Loan, and is greater than
or equal to the Pass-Through Rate on such Class of Certificates, then the 225 Bush Street Base Interest Fraction will equal zero
and (3) if the discount rate is greater than or equal to the Mortgage Rate on such Trust Subordinate Companion Loan, and is less
than the Pass-Through Rate on such Class of Certificates, then the 225 Bush Street Base Interest Fraction will be one (1). The
Master Servicer shall provide to the Certificate Administrator the discount rate referenced above for purposes of calculating the
225 Bush Street Base Interest Fraction.

 

“225 Bush Street
Co-Lender Agreement”: That certain Agreement between Noteholders, dated as of November 1, 2016, by and between the holder
of the 225 Bush Street Pari Passu Companion Loan, the holder of the 225 Bush Street Mortgage Loan and the holder of the 225 Bush
Street Trust Subordinate Companion Loan, relating to the relative rights of such holders of the 225 Bush Street Whole Loan, as
the same may be further amended in accordance with the terms thereof.

 

“225 Bush Street
Control Eligible Certificates”: Any of the Class 225-A, Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates.

 

“225 Bush Street
Controlling Class”: As of any date of determination, the most subordinate Class of 225 Bush Street Control Eligible Certificates
then outstanding that has a then aggregate Certificate Balance as notionally reduced by any Cumulative Appraisal Reduction Amounts
allocable to such Class in accordance with Section 4.05(a), at least equal to 25% of the Original Certificate Balance of
that Class; provided that if, at any time, the Certificate Balances of all 225 Bush Street Control Eligible Certificates,
as notionally reduced by any Appraisal Reduction Amounts (but without regard to any Collateral Deficiency Amount) allocable to
such classes, have been reduced to zero, the 225 Bush Street Controlling Class will be the most senior Class of 225 Bush Street
Control Eligible Certificates that has a principal balance greater than zero; provided, further that if at any time
the Certificate Balance of the Class 225-A Certificates have been reduced to zero as a result of the allocation of principal payments
on the 225 Bush Street Trust Subordinate Companion Loan, then the “225 Bush Street Controlling Class” will be the most
subordinate class of 225 Bush Street Control Eligible Certificates that has an aggregate Certificate Balance greater than zero
without regard to the application of Appraisal Reduction Amounts (or any Collateral Deficiency Amount) to notionally reduce the
Certificate Balance of such Class.

 

“225 Bush Street
Controlling Class Certificateholders”: Each Holder (or Certificate Owner, if applicable) of a Certificate of the 225
Bush Street Controlling Class as determined by the Certificate Registrar, from time to time, upon request by any party hereto.
The Trustee, the Master Servicer, any Special Servicer or the Operating Advisor may from time to time request (the cost of which
being an expense of the Trust) that the Certificate Administrator provide a list of the Holders (or Certificate Owners, if applicable)
of the 225 Bush Street Controlling Class and the Certificate Administrator shall promptly provide such list without charge to such
Trustee, Master Servicer, Operating Advisor or Special Servicers, as applicable. The Trustee, the Master Servicer, the Special
Servicers and the Operating Advisor shall be entitled to rely on any such list so provided.

 

    -11-

     

    

 

“225 Bush Street
Controlling Class Representative”: The 225 Bush Street Controlling Class Representative shall be the 225 Bush Street
Controlling Class Certificateholder (or a representative thereof) selected by more than 50% of the 225 Bush Street Controlling
Class Certificateholders, (by Certificate Balance, as determined by the Certificate Registrar from time to time); provided,
however, that (i) absent that selection, or (ii) until a 225 Bush Street Controlling Class Representative is so selected
or (iii) upon receipt of a notice from a majority of the 225 Bush Street Controlling Class Certificateholders, by Certificate Balance,
that a 225 Bush Street Controlling Class Representative is no longer designated, then the 225 Bush Street Controlling Class Certificateholder
that represents that it owns the largest aggregate Certificate Balance of the 225 Bush Street Controlling Class (with evidence
of ownership) or a representative thereof, will be the 225 Bush Street Controlling Class Representative; provided, however,
that, in the case of this clause (iii), in the event that no one Holder owns the largest aggregate Certificate Balance of
the 225 Bush Street Controlling Class, then there will be no 225 Bush Street Controlling Class Representative until appointed in
accordance with the terms of this Agreement. After the occurrence and during the continuance of a 225 Bush Street Trust Subordinate
Companion Loan Control Termination Event, there will be no 225 Bush Street Controlling Class Representative. The Depositor shall
promptly provide the name and contact information for the initial 225 Bush Street Controlling Class Representative upon request
of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided
by the Depositor. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the
225 Bush Street Controlling Class Representative has not changed until such parties receive written notice of a replacement of
the 225 Bush Street Controlling Class Representative from a party holding the requisite interest in the 225 Bush Street Controlling
Class, or the resignation of the then-current 225 Bush Street Controlling Class Representative.

 

“225 Bush Street
Components”: With respect to the 225 Bush Street Trust Subordinate Companion Loan, the 5 components, each of which will
correspond to, and have a principal balance as of the Closing Date equal to the initial Certificate Balance of one Class of 225
Bush Street Loan-Specific Certificates. 225 Bush Street Component B-1 has a Closing Date component balance of $12,964,000 and interest
will be payable on such Component at a per annum rate equal to 2.649335%. 225 Bush Street Component B-2 has a Closing Date
component balance of $18,405,000 and interest will be payable on such Component at a per annum rate equal to 3.007242%.
225 Bush Street Component B-3 has a Closing Date component balance of $22,576,000 and interest will be payable on such Component
at a per annum rate equal to 3.790921%. 225 Bush Street Component B-4 has a Closing Date component balance of $30,673,000
and interest will be payable on such Component at a per annum rate equal to 4.779543%. 225 Bush Street Component B-5 has
a Closing Date component balance of $28,382,000 and interest will be payable on such Component at a per annum rate equal
to 5.557912%.

 

“225 Bush Street
Loan-Specific Certificates”: The Class 225-A, Class 225-B, Class 225-C, Class 225-D, Class 225-E and Class X-225 Certificates,
collectively.

 

“225 Bush Street
Mortgage Loan”: With respect to the 225 Bush Street Whole Loan, the Mortgage Loan that is included in the Trust (identified
as Mortgage Loan No. 2 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is pari passu in
right

 

    -12-

     

    

 

of payment with the 225 Bush Street Pari Passu Companion Loan to the extent set forth in the related Co-Lender Agreement.
The 225 Bush Street Trust Subordinate Companion Loan is subordinate to the 225 Bush Street Mortgage Loan.

 

“225 Bush Street
Mortgaged Property”: The Mortgaged Property which secures the 225 Bush Street Whole Loan.

 

“225 Bush Street
Pari Passu Companion Loan”: With respect to the 225 Bush Street Whole Loan, the Companion Loan evidenced by the promissory
note A-2 made by the related Mortgagor and secured by the Mortgage on the 225 Bush Street Mortgaged Property, which is not included
in the Trust and which is pari passu in right of payment to the 225 Bush Street Mortgage Loan to the extent set forth in
the related Mortgage Loan documents and as provided in the 225 Bush Street Co-Lender Agreement.

 

“225 Bush Street
Principal Distribution Amount”: With respect to any Distribution Date and the 225 Bush Street Loan-Specific Certificates
(other than the Class X-225 Certificates), an amount equal to the sum of the following amounts: (a) the 225 Bush Street Principal
Shortfall for such Distribution Date, (b) the 225 Bush Street Scheduled Principal Distribution Amount for such Distribution Date
and (c) the 225 Bush Street Unscheduled Principal Distribution Amount for such Distribution Date; provided that the 225
Bush Street Principal Distribution Amount for any Distribution Date shall be reduced, to not less than zero, by the amount of any
reimbursements of (A) Nonrecoverable Advances, with interest on such Nonrecoverable Advances at the Reimbursement Rate that are
paid or reimbursed from principal collections on the 225 Bush Street Trust Subordinate Companion Loan in a period during which
such principal collections would have otherwise been included in the 225 Bush Street Principal Distribution Amount for such Distribution
Date and (B) Workout-Delayed Reimbursement Amounts paid or reimbursed from principal collections on the 225 Bush Street Trust Subordinate
Companion Loan in a period during which such principal collections would have otherwise been included in the 225 Bush Street Principal
Distribution Amount for such Distribution Date (provided that, in the case of clauses (A) and (B) above, if
any of the amounts that were reimbursed from principal collections on the 225 Bush Street Trust Subordinate Companion Loan (including
the portion of the REO Loan allocable to the 225 Bush Street Trust Subordinate Companion Loan) are subsequently recovered on the
related Trust Subordinate Companion Loan (or the portion of the REO Loan allocable to the 225 Bush Street Trust Subordinate Companion
Loan), such recovery will increase the 225 Bush Street Principal Distribution Amount for the Distribution Date related to the period
in which such recovery occurs).

 

“225 Bush Street
Principal Shortfall”: For any Distribution Date after the initial Distribution Date with respect to the 225 Bush Street
Trust Subordinate Companion Loan, the amount, if any, by which (a) the related 225 Bush Street Principal Distribution Amount for
the preceding Distribution Date, exceeds (b) the aggregate amount actually distributed on the preceding Distribution Date in respect
of such 225 Bush Street Principal Distribution Amount. The 225 Bush Street Principal Shortfall for the initial Distribution Date
will be zero.

 

“225 Bush Street
Realized Loss”: With respect to the 225 Bush Street Loan-Specific Certificates, 225 Bush Street Realized Loss (as defined
in Section 4.04(a)).

 

    -13-

     

    

 

“225 Bush Street
Scheduled Principal Distribution Amount”: With respect to any Distribution Date and the 225 Bush Street Trust Subordinate
Companion Loan, the aggregate of the principal portions of the following: (a) all Periodic Payments (excluding Balloon Payments)
with respect to the 225 Bush Street Trust Subordinate Companion Loan due during or, if and to the extent not previously received
or advanced pursuant to Section 4.03 and distributed to Certificateholders on a preceding Distribution Date, prior to the
related Collection Period and all 225 Bush Street Assumed Scheduled Payments with respect to the 225 Bush Street Trust Subordinate
Companion Loan for the related Collection Period, in each case to the extent either (i) paid by the related Mortgagor as of the
related Determination Date (or, with respect to the 225 Bush Street Trust Subordinate Companion Loan with a Due Date occurring
or a Grace Period ending after the related Determination Date, the related Due Date or last day of such Grace Period, as applicable,
to the extent received by the Master Servicer as of the Business Day preceding the related Master Servicer Remittance Date) or
(ii) advanced by the Master Servicer or the Trustee, as applicable, pursuant to Section 4.03, and (b) all Balloon Payments
allocable to the 225 Bush Street Trust Subordinate Companion Loan to the extent received on or prior to the related Determination
Date (or, with respect to the 225 Bush Street Trust Subordinate Companion Loan with a Due Date occurring, or a Grace Period ending,
after the related Determination Date, the related Due Date or, last day of such Grace Period, as applicable, to the extent received
by the Master Servicer as of the Business Day preceding the related Master Servicer Remittance Date), and to the extent not included
in clause (a) above.

 

“225 Bush Street
Special Servicer”: AEGON USA Realty Advisors, LLC, or its successor-in-interest, or any successor special servicer appointed
as provided herein (including with respect to any Excluded Special Servicer Loan, if any, the related Excluded Special Servicer
appointed pursuant to Section 7.01(g) of this Agreement, as applicable and as the context may require).

 

“225 Bush Street
Trust Subordinate Companion Loan”: With respect to the 225 Bush Street Whole Loan, the Companion Loan evidenced by the
promissory note B made by the related Mortgagor and secured by the Mortgage on the 225 Bush Street Mortgaged Property, which is
included in the Trust and which is subordinate in right of payment to the 225 Bush Street Mortgage Loan and the 225 Bush Street
Pari Passu Companion Loan to the extent set forth in the related Mortgage Loan documents and as provided in the 225 Bush Street
Co-Lender Agreement.

 

“225 Bush Street
Trust Subordinate Companion Loan Control Termination Event”: Shall be deemed to exist with respect to the 225 Bush Street
Whole Loan, if and for so long as: (a)(1) the initial principal balance of the 225 Bush Street Trust Subordinate Companion Loan
minus (2) the sum (without duplication) of (x) any payments of principal (whether as principal prepayments or otherwise) allocated
to, and received on, the 225 Bush Street Trust Subordinate Companion Loan after the date of creation of the 225 Bush Street Trust
Subordinate Companion Loan, (y) any Appraisal Reduction Amount for the 225 Bush Street Whole Loan that is allocated to the 225
Bush Street Trust Subordinate Companion Loan and (z) any losses realized with respect to any related Mortgaged Property or the
225 Bush Street Whole Loan that are allocated to the 225 Bush Street Trust Subordinate Companion Loan, is less than (b) 25% of
the remainder of the (i) initial principal balance of the 225 Bush Street Trust Subordinate Companion Loan less (ii) any payments
of principal (whether as principal prepayments or

 

    -14-

     

    

 

otherwise) allocated to, and received by, the 225 Bush Street Trust Subordinate
Companion Loan Holder on the 225 Bush Street Trust Subordinate Companion Loan after the date of creation of the 225 Bush Street
Trust Subordinate Companion Loan.

 

“225 Bush Street
Trust Subordinate Companion Loan REMIC”: One of four separate REMICs comprising a portion of the Trust Fund, which consist
of the 225 Bush Street Trust Subordinate Companion Loan and the proceeds thereof, any allocable portion of REO Property with respect
thereto, the related portions of the REO Account, and the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account.

 

“225 Bush Street
Trust Subordinate Companion Loan REMIC Distribution Account”: With respect to the 225 Bush Street Trust Subordinate Companion
Loan, the segregated trust account or accounts created and maintained as a separate account or accounts by the Certificate Administrator
(on behalf of the Trustee) pursuant to Section 3.04(h) of this Agreement, which shall be entitled “Wells Fargo Bank,
National Association, as Certificate Administrator on behalf of Wilmington Trust, National Association, as Trustee, for the benefit
of the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4,
225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account,” and which must be an Eligible Account or a
subaccount of an Eligible Account.

 

“225 Bush Street
Unscheduled Principal Distribution Amount”: With respect to any Distribution Date and the 225 Bush Street Trust Subordinate
Companion Loan, the aggregate of the following: (a) all Principal Prepayments received on such Trust Subordinate Companion Loan
on or prior to the Determination Date and (b) the principal portions of all Liquidation Proceeds, Insurance and Condemnation Proceeds
(net of Special Servicing Fees, Liquidation Fees, accrued interest on Advances and other additional expenses of the Trust incurred
in connection with the related Trust Subordinate Companion Loan) and, if applicable, REO Revenues received with respect to such
Trust Subordinate Companion Loan and any REO Loans allocable to the 225 Bush Street Trust Subordinate Companion Loan on or prior
to the related Determination Date, but in each case only to the extent that such principal portion represents a recovery of principal
for which no advance was previously made pursuant to Section 4.03 in respect of a preceding Distribution Date.

 

“225 Bush Street
Whole Loan”: The 225 Bush Street Mortgage Loan, together with the 225 Bush Street Pari Passu Companion Loan and the 225
Bush Street Trust Subordinate Companion Loan, each of which is secured by the same Mortgage on the 225 Bush Street Mortgaged Property.
References herein to the 225 Bush Street Whole Loan shall be construed to refer to the aggregate indebtedness under the 225 Bush
Street Mortgage Loan, the 225 Bush Street Pari Passu Companion Loan and the 225 Bush Street Trust Subordinate Companion Loan.

 

“30/360 Mortgage
Loans”: The Mortgage Loans indicated as such in the Mortgage Loan Schedule.

 

“540 West Madison
Co-Lender Agreement”: That certain Agreement between Noteholders, dated as of September 7, 2016, by and between the holder
of the 540 West Madison Pari Passu Companion Loan, the holder of the 540 West Madison Mortgage Loan and the

 

    -15-

     

    

 

holders of the 540
West Madison Subordinate Companion Loans, relating to the relative rights of such holders of the 540 West Madison Whole Loan, as
the same may be further amended in accordance with the terms thereof.

 

“540 West Madison
Mortgage Loan”: With respect to the 540 West Madison Whole Loan, the Mortgage Loan that is included in the Trust (identified
as Mortgage Loan No. 3 on the Mortgage Loan Schedule), which is designated as promissory note A-2, and is pari passu in
right of payment with the 540 West Madison Pari Passu Companion Loan to the extent set forth in the related Co-Lender Agreement.
The 540 West Madison Subordinate Companion Loans are subordinate to the 540 West Madison Mortgage Loan.

 

“540 West Madison
Mortgaged Property”: The Mortgaged Property which secures the 540 West Madison Whole Loan.

 

“540 West Madison
Pari Passu Companion Loan”: With respect to the 540 West Madison Whole Loan, the Companion Loans evidenced by the promissory
note A-1 made by the related Mortgagor and secured by the Mortgage on the 540 West Madison Mortgaged Property, which is not included
in the Trust and which is pari passu in right of payment to the 540 West Madison Mortgage Loan to the extent set forth in
the related Mortgage Loan documents and as provided in the 540 West Madison Co-Lender Agreement.

 

“540 West Madison
Subordinate Companion Loan”: With respect to the 540 West Madison Whole Loan, the Companion Loans evidenced by the promissory
note B and C made by the related Mortgagor and secured by the Mortgage on the 540 West Madison Mortgaged Property, which are not
included in the Trust and which are subordinate in right of payment to the 540 West Madison Mortgage Loan and the 540 West Madison
Pari Passu Companion Loan to the extent set forth in the related Mortgage Loan documents and as provided in the 540 West Madison
Co-Lender Agreement.

 

“540 West Madison
Whole Loan”: The 540 West Madison Mortgage Loan, together with the 540 West Madison Pari Passu Companion Loan and the
540 West Madison Subordinate Companion Loans, each of which is secured by the same Mortgage on the 540 West Madison Mortgaged Property.
References herein to the 540 West Madison Whole Loan shall be construed to refer to the aggregate indebtedness under the 540 West
Madison Mortgage Loan, the 540 West Madison Pari Passu Companion Loan and the 540 West Madison Subordinate Companion Loans.

 

“AB Control
Appraisal Period”: With respect to any AB Subordinate Companion Loan, the period during which (a)(i) the initial principal
balance of such AB Subordinate Companion Loan minus (ii) the sum (without duplication) of (x) any payments of principal (whether
as principal prepayments or otherwise) allocated to, and received on, such AB Subordinate Companion Loan, (y) any Appraisal Reduction
Amounts for the related AB Whole Loan that are allocated to such AB Subordinate Companion Loan and (z) any losses realized with
respect to the related Mortgaged Property or AB Whole Loan that are allocated to such AB Subordinate Companion Loan, is less than
(b) 25% of the remainder of the (i) initial principal balance of such AB Subordinate Companion Loan less (ii) any payments of principal
(whether

 

    -16-

     

    

 

principal prepayments or otherwise) allocated to, and received by, the holder of such AB Subordinate Companion Loan.

 

“AB Co-Lender
Agreement”: Any Co-Lender Agreement by and among the holder of an AB Subordinate Companion Loan and the holders of the
related Mortgage Loan and any related Pari Passu Companion Loan, relating to the relative rights of such holders of the related
AB Whole Loan, as the same may be further amended in accordance with the terms thereof. For the avoidance of doubt, the AMA Plaza
Co-Lender Agreement, the 225 Bush Street Co-Lender Agreement and the 540 West Madison Co-Lender Agreement are AB Co-Lender Agreements
under this Agreement.

 

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

 

“AB Mortgage
Loan”: A senior “A note” that is part of an AB Whole Loan and which is a Mortgage Loan that is part of the
Trust Fund. For the avoidance of doubt, the AMA Plaza Mortgage Loan, the 225 Bush Street Mortgage Loan and the 540 West Madison
Mortgage Loan are AB Mortgage Loans.

 

“AB Mortgaged
Property”: The Mortgaged Property which secures the related AB Whole Loan.

 

“AB Subordinate
Companion Loan”: With respect to any AB Whole Loan, the related companion loan evidenced by the related promissory note
made by the related Mortgagor and secured by the Mortgage on the related AB Mortgaged Property, which is not included in the Trust
(other than the Trust Subordinate Companion Loans) and which is subordinate in right of payment to the related AB Mortgage Loan
to the extent set forth in the related Mortgage Loan documents and as provided in the related Co-Lender Agreement. The AMA Plaza
Subordinate Companion Loans, the 225 Bush Street Trust Subordinate Companion Loan and the 540 West Madison Subordinate Companion
Loans are AB Subordinate Companion Loans.

 

“AB Whole Loan”:
A Whole Loan that consists of such Mortgage Loan and a related AB Subordinate Companion Loan. For the avoidance of doubt, the AMA
Plaza Whole Loan, the 225 Bush Street Whole Loan and the 540 West Madison Whole Loan are AB Whole Loans.

 

“AB Whole Loan
Controlling Holder”: With respect to a Serviced AB Whole Loan, The “Directing Lender”, “Controlling
Noteholder” or similarly defined party identified in the related AB Co-Lender Agreement.

 

“Acceptable
Insurance Default”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan,
a default under the related

 

    -17-

     

    

 

Mortgage Loan documents arising by reason of (i) any failure on the part of the related Mortgagor to
maintain with respect to the related Mortgaged Property specific insurance coverage with respect to, or an all-risk casualty insurance
policy that does not specifically exclude, terrorist or similar acts, and/or (ii) any failure on the part of the related Mortgagor
to maintain with respect to the related Mortgaged Property insurance coverage with respect to damages or casualties caused by terrorist
or similar acts upon terms not materially less favorable than those in place as of the Closing Date, in each case as to which default
the Master Servicer and the applicable Special Servicer may forbear taking any enforcement action, provided that the applicable
Special Servicer has determined, in its reasonable judgment, based on inquiry consistent with the Servicing Standard and (unless
a Control Termination Event has occurred and is continuing (or other than with respect to any Excluded Loan), with the consent
of the Directing Holder (and after a Control Termination Event has occurred, but prior to the occurrence of a Consultation Termination
Event (or other than with respect to any Excluded Loan), after consultation with the Directing Holder as provided in Section
6.08 hereof)), that either (a) such insurance is not available at commercially reasonable rates and that such hazards are not
at the time commonly insured against for properties similar to the related Mortgaged Property and located in or around the region
in which such related Mortgaged Property is located, or (b) such insurance is not available at any rate; provided, however,
that the Directing Holder will not have more than thirty (30) days to respond to the applicable Special Servicer’s request
for such consent or consultation; provided, further, that upon the applicable Special Servicer’s determination,
consistent with the Servicing Standard, that exigent circumstances do not allow the applicable Special Servicer to consult with
the Directing Holder, the applicable Special Servicer is not required to do so. Each of the Master Servicer (at its own expense)
and the applicable Special Servicer (at the expense of the Trust Fund) shall be entitled to rely on insurance consultants in making
the determinations described above.

 

“Accrued AB
Loan Interest”:  With respect to any AB Modified Loan and any date of determination, the accrued and unpaid interest
that remains unpaid with respect to the junior note(s) of such AB Modified Loan.

 

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

 

“Actual/360
Basis”: Interest accrual on the basis of the actual number of days in a month assuming a 360-day year.

 

“Actual/360
Mortgage Loans”: The Mortgage Loans and the Trust Subordinate Companion Loans, to the extent indicated as such in the
Mortgage Loan Schedule.

 

“Additional
Debt”: With respect to any Mortgage Loan, any debt owed by the related Mortgagor to a party other than the lender under
such Mortgage Loan that is secured by the related Mortgaged Property as of the Closing Date as set forth on Schedule 1 hereto,
as increased or decreased from time to time pursuant to the terms of the related subordinate or pari passu loan documents
(including any Co-Lender Agreement or subordination agreement).

 

“Additional
Disclosure Notification”: The form of notification to be included with any Additional Form 10-D Disclosure, Additional
Form 10-K Disclosure or Form 8-K Disclosure Information which is attached hereto as Exhibit EE.

 

    -18-

     

    

 

“Additional
Exclusions”: Exclusions in addition to those customarily found in the insurance policies for mortgaged properties similar
to the Mortgaged Properties on or prior to September 11, 2001.

 

“Additional
Form 10-D Disclosure”: As defined in Section 11.04(a).

 

“Additional
Form 10-K Disclosure”: As defined in Section 11.05(a).

 

“Additional
Servicer”: Each Affiliate of the Master Servicer, the Special Servicers or the Mortgage Loan Seller that services any
of the Mortgage Loans or the Trust Subordinate Companion Loans, as applicable, and each Person who is not an Affiliate of the Master
Servicer, other than the Special Servicers, who services 10% or more of the Mortgage Loans and the Trust Subordinate Companion
Loans by unpaid principal balance as of any date of determination pursuant to Article XI.

 

“Administrative
Cost Rate”: As of any date of determination and with respect to each Mortgage Loan or Trust Subordinate Companion Loan,
a per annum rate equal to the sum of the Servicing Fee Rate, the Certificate Administrator/Trustee Fee Rate (which fee rate
accounts for the Trustee Fee), the Operating Advisor Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC®
Intellectual Property Royalty License Fee Rate.

 

“Advance”:
Any P&I Advance or Property Protection Advance.

 

“Adverse REMIC
Event”: As defined in Section 10.01(f).

 

“Affected Party”:
As defined in Section 7.01(b).

 

“Affected Reporting
Party”: As defined in Section 11.12.

 

“Affiliate”:
With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.

 

“Affirmative
Asset Review Vote”: As defined in Section 12.01(a).

 

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

 

“AMA Plaza Assumed
Scheduled Payment”: For any Collection Period and with respect to the AMA Plaza Trust Subordinate Companion Loan that
is delinquent in respect of its Balloon Payment (excluding, for purposes of determining or making P&I Advances, the portion
allocable to the AMA Plaza Mortgage Loan and the AMA Plaza Non-Trust Subordinate Companion Loan), an amount equal to the sum of
(a) the principal portion of the Periodic Payment that would have been due on such Trust Subordinate Companion Loan on the related
Due Date based on the constant payment required by the related Mortgage Note or the original

 

    -19-

     

    

 

amortization schedule of such Trust
Subordinate Companion Loan (as calculated with interest at the related Mortgage Rate), if applicable, assuming such Balloon Payment
has not become due, after giving effect to any reduction in the principal balance thereof occurring in connection with a modification
of such Trust Subordinate Companion Loan in connection with a default or bankruptcy (or similar proceeding), and (b) interest on
the Stated Principal Balance of such Trust Subordinate Companion Loan (excluding, for purposes of determining P&I Advances,
the portion allocable to any related Trust Subordinate Companion Loan, if applicable) at the applicable Mortgage Rate (net of interest
at the Servicing Fee Rate).

 

“AMA Plaza Available
Funds”: With respect to any Distribution Date, an amount equal to the sum of (without duplication) (which, for the avoidance
of doubt, will not include any amounts received in respect of the Mortgage Loans):

 

(a)       the
aggregate amount of all cash received on the AMA Plaza Trust Subordinate Companion Loan (including the portion of Loss of Value
Payments deposited into the Collection Account pursuant to Section 3.05(g) of this Agreement) and any REO Property (including
Compensating Interest Payments with respect to the AMA Plaza Trust Subordinate Companion Loan required to be deposited by the Master
Servicer pursuant to Section 3.17(a)) on deposit in the Collection Account (in each case, exclusive of any amount on deposit
in or credited to any portion of the Collection Account that is held for the benefit of the holder of any Mortgage Loan, Companion
Holders or the holders of the Pooled Certificates, the 225 Bush Street Loan-Specific Certificates or the Trust Components), as
of the close of business on the related Master Servicer Remittance Date, exclusive of (without duplication):

 

(i)        all
Periodic Payments paid by the Mortgagors of the AMA Plaza Trust Subordinate Companion Loan that are due on a Due Date following
the end of the related Collection Period;

 

(ii)       all
unscheduled Principal Prepayments (together with any related payments of interest allocable to the period following the related
Due Date for the Trust Subordinate Companion Loan), Liquidation Proceeds, Insurance and Condemnation Proceeds and other unscheduled
recoveries, in each case, received subsequent to the related Determination Date (or, with respect to voluntary Principal Prepayments
for the AMA Plaza Trust Subordinate Companion Loan with a Due Date occurring after the related Determination Date, subsequent to
the related Due Date) allocable to the AMA Plaza Trust Subordinate Companion Loan;

 

(iii)      (A)
all amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xviii),
inclusive, and (xxi) of Section 3.05(a); (B) all amounts payable or reimbursable to any Person from the Lower-Tier
REMIC Distribution Account pursuant to clauses (ii) through (vii), inclusive, of Section 3.05(b); and (C)
any Net Investment Earnings contained therein;

 

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(iv)      with
respect to the AMA Plaza Trust Subordinate Companion Loan and any Distribution Date occurring in (1) each February or (2) any January
in a year that is not a leap year (in each case, unless the related Distribution Date is the final Distribution Date), an amount
equal to one (1) day of interest on the Stated Principal Balance of the AMA Plaza Trust Subordinate Companion Loan as of the Due
Date in the month preceding the month in which such Distribution Date occurs at the related Net Mortgage Rate to the extent such
amounts are Withheld Amounts related to the AMA Plaza Trust Subordinate Companion Loan;

 

(v)      all
Yield Maintenance Charges allocable to the AMA Plaza Trust Subordinate Companion Loan;

 

(vi)     all
amounts deposited in the Collection Account in error; and

 

(vii)    any
Penalty Charges allocable to the AMA Plaza Trust Subordinate Companion Loan;

 

(b)       if
and to the extent not already included in clause (a) hereof, the aggregate amount transferred from the REO Accounts allocable
to the AMA Plaza Trust Subordinate Companion Loan to the Collection Account for such Distribution Date pursuant to Section 3.14(c);

 

(c)       the
aggregate amount of any Compensating Interest Payments made by the Master Servicer with respect to the AMA Plaza Trust Subordinate
Companion Loan with respect to such Distribution Date and P&I Advances made by the Master Servicer or the Trustee, as applicable,
with respect to the Mortgage Loans and the Distribution Date (net of the related Certificate Administrator/Trustee Fee, Operating
Advisor Fee, CREFC® Intellectual Property Royalty License Fee and Asset Representations Reviewer Fee with
respect to the Mortgage Loans for which such P&I Advances are made) pursuant to Section 4.03 or Section 7.05;
and

 

(d)       with
respect to the AMA Plaza Trust Subordinate Companion Loan and any Distribution Date occurring in each March (or February, if the
related Distribution Date is the final Distribution Date), the Withheld Amounts related to the AMA Plaza Trust Subordinate Companion
Loan remitted to the AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account pursuant to Section 3.21(b).

 

Notwithstanding the investment
of funds held in the Collection Account pursuant to Section 3.06, for purposes of calculating the AMA Plaza Available Funds,
the amounts so invested shall be deemed to remain on deposit in such account.

 

“AMA Plaza Base
Interest Fraction”: With respect to any Principal Prepayment on the AMA Plaza Trust Subordinate Companion Loan and with
respect to any Class of Class AMA-A, Class AMA-B, Class AMA-C and Class AMA-D Certificates, is a fraction (a) whose numerator is
the greater of (x) zero and (y) the difference between (i) the Pass-Through Rate on such Class of Certificates, as applicable,
and (ii) the discount rate used in accordance with the related Mortgage Loan documents in calculating the Yield Maintenance Charge
with respect to

 

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such Principal Prepayment and (b) whose denominator is the greater of (x) zero and (y) the difference between (i)
the Mortgage Rate on the AMA Plaza Trust Subordinate Companion Loan, and (ii) the discount rate used in accordance with the related
Mortgage Loan documents in calculating the Yield Maintenance Charge with respect to such Principal Prepayment. However, (1) under
no circumstances shall the AMA Plaza Base Interest Fraction be greater than one or less than zero, (2) if such discount rate is
greater than or equal to the Mortgage Rate on such Trust Subordinate Companion Loan, and is greater than or equal to the Pass-Through
Rate on such Class of Certificates, then the AMA Plaza Base Interest Fraction will equal zero and (3) if the discount rate is greater
than or equal to the Mortgage Rate on such Trust Subordinate Companion Loan, and is less than the Pass-Through Rate on such Class
of Certificates, then the AMA Plaza Base Interest Fraction will be one (1). The Master Servicer shall provide to the Certificate
Administrator the discount rate referenced above for purposes of calculating the AMA Plaza Base Interest Fraction.

 

“AMA Plaza Co-Lender
Agreement”: That certain Agreement between Noteholders, dated as of November 17, 2016, by and between the holder of the
AMA Plaza Pari Passu Companion Loan, the holder of the AMA Plaza Mortgage Loan and the holders of the AMA Plaza Subordinate Companion
Loans, relating to the relative rights of such holders of the AMA Plaza Whole Loan, as the same may be further amended in accordance
with the terms thereof.

 

“AMA Plaza Control
Eligible Certificates”: Any of the Class AMA-A, Class AMA-B, Class AMA-C and Class AMA-D Certificates.

 

“AMA Plaza Controlling
Class”: As of any date of determination, the most subordinate Class of AMA Plaza Control Eligible Certificates then outstanding
that has a then aggregate Certificate Balance as notionally reduced by any Cumulative Appraisal Reduction Amounts allocable to
such Class in accordance with Section 4.05(a), at least equal to 25% of the Original Certificate Balance of that Class;
provided that if, at any time, the Certificate Balances of all AMA Plaza Control Eligible Certificates, as notionally reduced
by any Appraisal Reduction Amounts (but without regard to any Collateral Deficiency Amount) allocable to such classes, have been
reduced to zero, the AMA Plaza Controlling Class will be the most senior Class of AMA Plaza Control Eligible Certificates that
has a principal balance greater than zero; provided, further that if at any time the Certificate Balance of the Class
AMA-A Certificates have been reduced to zero as a result of the allocation of principal payments on the AMA Plaza Trust Subordinate
Companion Loan, then the “AMA Plaza Controlling Class” will be the most subordinate class of AMA Plaza Control Eligible
Certificates that has an aggregate Certificate Balance greater than zero without regard to the application of Appraisal Reduction
Amounts (or any Collateral Deficiency Amount) to notionally reduce the Certificate Balance of such Class.

 

“AMA Plaza Controlling
Class Certificateholders”: Each Holder (or Certificate Owner, if applicable) of a Certificate of the AMA Plaza Controlling
Class as determined by the Certificate Registrar, from time to time, upon request by any party hereto. The Trustee, the Master
Servicer, any Special Servicer or the Operating Advisor may from time to time request (the cost of which being an expense of the
Trust) that the Certificate Administrator provide a list of the Holders (or Certificate Owners, if applicable) of the AMA Plaza
Controlling Class and the Certificate Administrator shall promptly provide such list without charge to such Trustee, Master

 

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Servicer,
Operating Advisor or Special Servicers, as applicable. The Trustee, the Master Servicer, the Special Servicers and the Operating
Advisor shall be entitled to rely on any such list so provided.

 

“AMA Plaza Controlling
Class Representative”: The AMA Plaza Controlling Class Representative shall be the AMA Plaza Controlling Class Certificateholder
(or a representative thereof) selected by more than 50% of the AMA Plaza Controlling Class Certificateholders, (by Certificate
Balance, as determined by the Certificate Registrar from time to time); provided, however, that (i) absent that selection,
or (ii) until an AMA Plaza Controlling Class Representative is so selected or (iii) upon receipt of a notice from a majority of
the AMA Plaza Controlling Class Certificateholders, by Certificate Balance, that an AMA Plaza Controlling Class Representative
is no longer designated, then the AMA Plaza Controlling Class Certificateholder that represents that it owns the largest aggregate
Certificate Balance of the AMA Plaza Controlling Class (with evidence of ownership) or a representative thereof, will be the AMA
Plaza Controlling Class Representative; provided, however, that, in the case of this clause (iii), in the
event that no one Holder owns the largest aggregate Certificate Balance of the AMA Plaza Controlling Class, then there will be
no AMA Plaza Controlling Class Representative until appointed in accordance with the terms of this Agreement. After the occurrence
and during the continuance of an AMA Plaza Trust Subordinate Companion Loan Control Termination Event, there will be no AMA Plaza
Controlling Class Representative. The Depositor shall promptly provide the name and contact information for the initial AMA Plaza
Controlling Class Representative upon request of any party to this Agreement and any such requesting party may conclusively rely
on the name and contact information provided by the Depositor. The Certificate Administrator and the other parties hereto shall
be entitled to assume that the identity of the AMA Plaza Controlling Class Representative has not changed until such parties receive
written notice of a replacement of the AMA Plaza Controlling Class Representative from a party holding the requisite interest in
the AMA Plaza Controlling Class, or the resignation of the then-current AMA Plaza Controlling Class Representative.

 

“AMA Plaza Components”:
With respect to the AMA Plaza Trust Subordinate Companion Loan, the 4 components, each of which will correspond to, and have a
principal balance as of the Closing Date equal to the initial Certificate Balance of one Class of AMA Plaza Loan-Specific Certificates.
AMA Plaza Component B-1 has a Closing Date component balance of $16,118,000 and interest will be payable on such Component at a
per annum rate equal to 3.212766%. AMA Plaza Component B-2 has a Closing Date component balance of $21,917,000 and interest
will be payable on such Component at a per annum rate equal to 3.517199%. AMA Plaza Component B-3 has a Closing Date component
balance of $27,032,000 and interest will be payable on such Component at a per annum rate equal to 3.827341%. AMA Plaza
Component B-4 has a Closing Date component balance of $36,533,000 and interest will be payable on such Component at a per annum
rate equal to 3.570635%.

 

“AMA Plaza Loan-Specific
Certificates”: The Class AMA-A, Class AMA-B, Class AMA-C, Class AMA-D and Class X-AMA Certificates, collectively.

 

“AMA Plaza Mortgage
Loan”: With respect to the AMA Plaza Whole Loan, the Mortgage Loan that is included in the Trust (identified as Mortgage
Loan No. 1 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is pari passu in right of

 

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payment
with the AMA Plaza Pari Passu Companion Loan to the extent set forth in the related Co-Lender Agreement. The AMA Plaza Subordinate
Companion Loans are subordinate to the AMA Plaza Mortgage Loan.

 

“AMA Plaza Mortgaged
Property”: The Mortgaged Property which secures the AMA Plaza Whole Loan.

 

“AMA Plaza Non-Trust
Subordinate Companion Loan”: With respect to the AMA Plaza Whole Loan, the Companion Loan evidenced by the promissory
note C made by the related Mortgagor and secured by the Mortgage on the AMA Plaza Mortgaged Property, which is not included in
the Trust and which is subordinate in right of payment to the AMA Plaza Mortgage Loan, the AMA Plaza Pari Passu Companion Loan
and the AMA Plaza Trust Subordinate Companion Loan to the extent set forth in the related Mortgage Loan documents and as provided
in the AMA Plaza Co-Lender Agreement.

 

“AMA Plaza Pari
Passu Companion Loan”: With respect to the AMA Plaza Whole Loan, the Companion Loan evidenced by the promissory note
A-2 made by the related Mortgagor and secured by the Mortgage on the AMA Plaza Mortgaged Property, which is not included in the
Trust and which is pari passu in right of payment to the AMA Plaza Mortgage Loan to the extent set forth in the related
Mortgage Loan documents and as provided in the AMA Plaza Co-Lender Agreement.

 

“AMA Plaza Principal
Distribution Amount”: With respect to any Distribution Date and the AMA Plaza Loan-Specific Certificates (other than
the Class X-AMA Certificates), an amount equal to the sum of the following amounts: (a) the AMA Plaza Principal Shortfall for such
Distribution Date, (b) the AMA Plaza Scheduled Principal Distribution Amount for such Distribution Date and (c) the AMA Plaza Unscheduled
Principal Distribution Amount for such Distribution Date; provided that the AMA Plaza Principal Distribution Amount for
any Distribution Date shall be reduced, to not less than zero, by the amount of any reimbursements of (A) Nonrecoverable Advances,
with interest on such Nonrecoverable Advances at the Reimbursement Rate that are paid or reimbursed from principal collections
on the AMA Plaza Trust Subordinate Companion Loan in a period during which such principal collections would have otherwise been
included in the AMA Plaza Principal Distribution Amount for such Distribution Date and (B) Workout-Delayed Reimbursement Amounts
paid or reimbursed from principal collections on the AMA Plaza Trust Subordinate Companion Loan in a period during which such principal
collections would have otherwise been included in the AMA Plaza Principal Distribution Amount for such Distribution Date (provided
that, in the case of clauses (A) and (B) above, if any of the amounts that were reimbursed from principal collections
on the AMA Plaza Trust Subordinate Companion Loan (including the portion of the REO Loan allocable to the AMA Plaza Trust Subordinate
Companion Loan) are subsequently recovered on the related Trust Subordinate Companion Loan (or the portion of the REO Loan allocable
to the AMA Plaza Trust Subordinate Companion Loan), such recovery will increase the AMA Plaza Principal Distribution Amount for
the Distribution Date related to the period in which such recovery occurs).

 

“AMA Plaza Principal
Shortfall”: For any Distribution Date after the initial Distribution Date with respect to the AMA Plaza Trust Subordinate
Companion Loan, the

 

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amount, if any, by which (a) the related AMA Plaza Principal Distribution Amount for the preceding Distribution
Date, exceeds (b) the aggregate amount actually distributed on the preceding Distribution Date in respect of such AMA Plaza Principal
Distribution Amount. The AMA Plaza Principal Shortfall for the initial Distribution Date will be zero.

 

“AMA Plaza Realized
Loss”: With respect to the AMA Plaza Loan-Specific Certificates, AMA Plaza Realized Loss (as defined in Section 4.04(a)).

 

“AMA Plaza Scheduled
Principal Distribution Amount”: With respect to any Distribution Date and the AMA Plaza Trust Subordinate Companion Loan,
the aggregate of the principal portions of the following: (a) all Periodic Payments (excluding Balloon Payments) with respect to
the AMA Plaza Trust Subordinate Companion Loan due during or, if and to the extent not previously received or advanced pursuant
to Section 4.03 and distributed to Certificateholders on a preceding Distribution Date, prior to the related Collection
Period and all AMA Plaza Assumed Scheduled Payments with respect to the AMA Plaza Trust Subordinate Companion Loan for the related
Collection Period, in each case to the extent either (i) paid by the related Mortgagor as of the related Determination Date (or,
with respect to the AMA Plaza Trust Subordinate Companion Loan with a Due Date occurring or a Grace Period ending after the related
Determination Date, the related Due Date or last day of such Grace Period, as applicable, to the extent received by the Master
Servicer as of the Business Day preceding the related Master Servicer Remittance Date) or (ii) advanced by the Master Servicer
or the Trustee, as applicable, pursuant to Section 4.03, and (b) all Balloon Payments allocable to the AMA Plaza Trust Subordinate
Companion Loan to the extent received on or prior to the related Determination Date (or, with respect to the AMA Plaza Trust Subordinate
Companion Loan with a Due Date occurring, or a Grace Period ending, after the related Determination Date, the related Due Date
or, last day of such Grace Period, as applicable, to the extent received by the Master Servicer as of the Business Day preceding
the related Master Servicer Remittance Date), and to the extent not included in clause (a) above.

 

“AMA Plaza Special
Servicer”: Wells Fargo Bank, National Association, or its successor-in-interest, or any successor special servicer appointed
as provided herein (including with respect to any Excluded Special Servicer Loan, if any, the related Excluded Special Servicer
appointed pursuant to Section 7.01(g) of this Agreement, as applicable and as the context may require).

 

“AMA Plaza Subordinate
Companion Loans”: The AMA Plaza Trust Subordinate Companion Loan and the AMA Plaza Non-Trust Subordinate Companion Loan.

 

“AMA Plaza Trust
Subordinate Companion Loan”: With respect to the AMA Plaza Whole Loan, the Companion Loan evidenced by the promissory
note B made by the related Mortgagor and secured by the Mortgage on the AMA Plaza Mortgaged Property, which is included in the
Trust and which is subordinate in right of payment to the AMA Plaza Mortgage Loan and the AMA Plaza Pari Passu Companion Loan to
the extent set forth in the related Mortgage Loan documents and as provided in the AMA Plaza Co-Lender Agreement.

 

“AMA Plaza Trust
Subordinate Companion Loan Control Termination Event”: Shall be deemed to exist with respect to the AMA Plaza Whole Loan,
if and for so long as: (a)(1)

 

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the initial principal balance of the AMA Plaza Trust Subordinate Companion Loan minus (2) the sum
(without duplication) of (x) any payments of principal (whether as principal prepayments or otherwise) allocated to, and received
on, the AMA Plaza Trust Subordinate Companion Loan after the date of creation of the AMA Plaza Trust Subordinate Companion Loan,
(y) any Appraisal Reduction Amount for the AMA Plaza Whole Loan that is allocated to the AMA Plaza Trust Subordinate Companion
Loan and (z) any losses realized with respect to any related Mortgaged Property or the AMA Plaza Whole Loan that are allocated
to the AMA Plaza Trust Subordinate Companion Loan, is less than (b) 25% of the remainder of the (i) initial principal balance of
the AMA Plaza Trust Subordinate Companion Loan less (ii) any payments of principal (whether as principal prepayments or otherwise)
allocated to, and received by, the AMA Plaza Trust Subordinate Companion Loan Holder on the AMA Plaza Trust Subordinate Companion
Loan after the date of creation of the AMA Plaza Trust Subordinate Companion Loan.

 

“AMA Plaza Trust
Subordinate Companion Loan REMIC”: One of four separate REMICs comprising a portion of the Trust Fund, which consist
of the AMA Plaza Trust Subordinate Companion Loan and the proceeds thereof, any allocable portion of REO Property with respect
thereto, the related portions of the REO Account, and the AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account.

 

“AMA Plaza Trust
Subordinate Companion Loan REMIC Distribution Account”: With respect to the AMA Plaza Trust Subordinate Companion Loan,
the segregated trust account or accounts created and maintained as a separate account or accounts by the Certificate Administrator
(on behalf of the Trustee) pursuant to Section 3.04(h) of this Agreement, which shall be entitled “Wells Fargo Bank,
National Association, as Certificate Administrator on behalf of Wilmington Trust, National Association, as Trustee, for the benefit
of the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4,
AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account,” and which must be an Eligible Account or a subaccount
of an Eligible Account.

 

“AMA Plaza Unscheduled
Principal Distribution Amount”: With respect to any Distribution Date and the AMA Plaza Trust Subordinate Companion Loan,
the aggregate of the following: (a) all Principal Prepayments received on such Trust Subordinate Companion Loan on or prior to
the Determination Date and (b) the principal portions of all Liquidation Proceeds, Insurance and Condemnation Proceeds (net of
Special Servicing Fees, Liquidation Fees, accrued interest on Advances and other additional expenses of the Trust incurred in connection
with the related Trust Subordinate Companion Loan) and, if applicable, REO Revenues received with respect to such Trust Subordinate
Companion Loan and any REO Loans allocable to the AMA Plaza Trust Subordinate Companion Loan on or prior to the related Determination
Date, but in each case only to the extent that such principal portion represents a recovery of principal for which no advance was
previously made pursuant to Section 4.03 in respect of a preceding Distribution Date.

 

“AMA Plaza Whole
Loan”: The AMA Plaza Mortgage Loan, together with the AMA Plaza Pari Passu Companion Loan and the AMA Plaza Subordinate
Companion Loans, each of which is secured by the same Mortgage on the AMA Plaza Mortgaged Property. References herein to the AMA
Plaza Whole Loan shall be construed to refer to the aggregate

 

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indebtedness under the AMA Plaza Mortgage Loan, the AMA Plaza Pari
Passu Companion Loan and the AMA Plaza Subordinate Companion Loans.

 

“AMA-R Interest”:
The uncertificated residual interest in the AMA Plaza Trust Subordinate Companion Loan REMIC, represented by the Class R Certificates.

 

“Anticipated
Repayment Date”: With respect to any ARD Loan, the date upon which such ARD Loan commences accruing interest at its Revised
Rate.

 

“Applicable
Laws”: As defined in Section 8.15.

 

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

 

“Appraisal”:
An appraisal prepared by an MAI appraiser who is licensed or certified to prepare appraisals in the state where the Mortgaged Property
is located, as appropriate; provided that each appraiser will be required to represent in such appraisal or in a supplemental
letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice”
as adopted by the Appraisal Standards Board of the Appraisal Foundation and has certified that such appraiser had no interest,
direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and its compensation
is not affected by the approval or disapproval of the Mortgage Loan.

 

“Appraisal Reduction
Amount”: For any Distribution Date and for any Mortgage Loan (other than a Non Serviced Mortgage Loan) or any Serviced
Whole Loan as to which any Appraisal Reduction Event has occurred, will be an amount, calculated by the applicable Special Servicer
(prior to the occurrence of a Consultation Termination Event and only with respect to any Mortgage Loan or Serviced Whole Loan
other than an Excluded Loan) in consultation with the Directing Holder, and (after the occurrence and during the continuance of
a Control Termination Event) in consultation with the Operating Advisor, as of the first Determination Date that is at least ten
(10) Business Days following the later of (a) the date on which the applicable Special Servicer receives an Appraisal or conducts
a valuation described below and (b) the occurrence of such Appraisal Reduction Event, equal to the excess of (a) the Stated Principal
Balance of that Mortgage Loan or Serviced Whole Loan, as the case may be, over (b) the excess of (i) the sum of (A) 90% of the
Appraised Value of the related Mortgaged Property as determined (1) by one or more Appraisals obtained by the applicable Special
Servicer with respect to that Mortgage Loan (together with any other Mortgage Loan cross-collateralized with such Mortgage Loan)
or Serviced Whole Loan, as the case may be, with an outstanding principal balance equal to or in excess of $2,000,000 (the costs
of which shall be paid by the Master Servicer as an Advance) or (2) by an internal valuation performed by the applicable Special
Servicer with respect to that Mortgage Loan (together with any other Mortgage Loan cross-collateralized with such Mortgage Loan)
or Serviced Whole Loan, as the case may be, with an outstanding principal balance less than $2,000,000, minus, with respect to
any Appraisals, such downward adjustments as the applicable Special Servicer may make (without implying any

 

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obligation to do so)
based upon its review of the Appraisal and any other information it deems relevant and (B) all escrows, letters of credit and reserves
in respect of such Mortgage Loan or Serviced Whole Loan, as of the date of calculation over (ii) the sum of, as of the Due Date
occurring in the month of the date of determination, (A) to the extent not previously advanced by the Master Servicer or the Trustee,
all unpaid interest due on such Mortgage Loan or Serviced Whole Loan, as the case may be, at a per annum rate equal to its
Mortgage Rate (and, with respect to any Serviced AB Whole Loan, any accrued and unpaid interest on the related Trust Subordinate
Companion Loan or AB Subordinate Companion Loan at a per annum rate equal to its related mortgage interest rate), (B) all
P&I Advances on the related Mortgage Loan and all Property Protection Advances on the related Mortgage Loan or Serviced Whole
Loan, not reimbursed from proceeds of such Mortgage Loan or Serviced Whole Loan, and interest thereon at the Reimbursement Rate
in respect of such Mortgage Loan or Serviced Whole Loan, (C) all currently due and unpaid real estate taxes, assessments, insurance
premiums, ground rents, unpaid Special Servicing Fees and all other amounts due and unpaid (including any capitalized interest
whether or not then due and payable) with respect to such Mortgage Loan or Serviced Whole Loan, as the case may be (which taxes,
premiums, ground rents and other amounts have not been the subject of an Advance by the Master Servicer, the applicable Special
Servicer or the Trustee, as applicable) and (D) any other unpaid additional expenses of the issuing entity in respect of such Mortgage
Loan or Serviced Whole Loan; provided, however, without limiting the applicable Special Servicer’s obligation
to order and obtain such Appraisal or perform such valuation, if the applicable Special Servicer has not obtained an Appraisal
or performed such valuation, as applicable, referred to above within 120 days of the event described in the definition of “Appraisal
Reduction Event” (without regard to the time periods set forth in the definition), then solely for purposes of determining
the amounts of the P&I Advances, the Appraisal Reduction Amount shall be deemed to be an amount equal to 25% of the current
Stated Principal Balance of the related Mortgage Loan or Serviced Whole Loan, until such time as an Appraisal is received by the
applicable Special Servicer and the Appraisal Reduction Amount is calculated by the applicable Special Servicer as of the first
Determination Date that is at least 10 Business Days thereafter. Within sixty (60) days after the Appraisal Reduction Event, the
applicable Special Servicer shall order and use reasonable efforts to receive an Appraisal (the cost of which shall be paid by
the Master Servicer as a Property Protection Advance); provided, further, however, that with respect to an
Appraisal Reduction Event as set forth in clause (i) of the definition of Appraisal Reduction Event, the applicable Special Servicer
shall order and use reasonable efforts to receive such Appraisal within the one hundred twenty (120) day period set forth in such
clause (i), and with respect to an Appraisal Reduction Event as set forth in clause (vi) of the definition of Appraisal Reduction
Event, the applicable Special Servicer shall order and use reasonable efforts to receive such Appraisal within the ninety (90)
day period or one hundred twenty (120) day period, as applicable, set forth in such clause (vi); provided, further,
however, that in no event shall the applicable Special Servicer be required to order any such Appraisal prior to the conclusion
of such sixty (60), ninety (90), or one hundred twenty (120) day period, as applicable, and in each case, the related Appraisal
shall be promptly delivered in electronic format by the applicable Special Servicer to the Master Servicer, the Directing Holder
(but only prior to the occurrence of a Consultation Termination Event), the Operating Advisor, the Certificate Administrator and
the Trustee. In connection with any Appraisal Reduction Amount, the Master Servicer will provide the applicable Special Servicer
with the information as

 

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set forth in Section 4.05(c). The Master Servicer shall not calculate Appraisal Reduction Amounts.

 

With respect to any Appraisal
Reduction Amount calculated for purposes of determining the existence and identity of the Controlling Class pursuant to Section
4.05(a) hereof, the Appraised Value for the related Mortgaged Property determined in connection with clause (b)(i)(A)(1)
or clause (b)(i)(A)(2) of the first paragraph of this definition shall be determined on an “as-is” basis.

 

Notwithstanding anything
herein to the contrary, the aggregate Appraisal Reduction Amount related to a Mortgage Loan or Trust Subordinate Companion Loan,
as the case may be, or the related REO Property will be reduced to zero as of the date on which Mortgage Loan is paid in full,
liquidated, repurchased or otherwise removed from the Trust or as otherwise set forth in Section 4.05(d).

 

Any Appraisal Reduction
Amount in respect of a Non-Serviced Whole Loan shall be calculated by the applicable party under and in accordance with and pursuant
to the terms of the applicable Non-Serviced Pooling Agreement.

 

Any Appraisal Reduction
Amount with respect to the AMA Plaza Whole Loan will be allocated first to the Non-Trust Subordinate Companion Loan (until
its principal balance is notionally reduced to zero by such related Appraisal Reduction Amounts), then to the AMA Plaza
Trust Subordinate Companion Loan (until its principal balance is notionally reduced to zero by such related Appraisal Reduction
Amounts) and then to the AMA Plaza Mortgage Loan and the AMA Plaza Pari Passu Companion Loan on a pro rata basis.

 

Any Appraisal Reduction
Amount with respect to the 225 Bush Street Whole Loan will be allocated first to the 225 Bush Street Trust Subordinate Companion
Loan (until its principal balance is notionally reduced to zero by such related Appraisal Reduction Amounts) and then to
the 225 Bush Street Mortgage Loan and the 225 Bush Street Pari Passu Companion Loan on a pro rata basis.

 

“Appraisal Reduction
Event”: With respect to any Mortgage Loan (other than a Non Serviced Mortgage Loan), or Serviced Whole Loan, the earliest
of (i) the date on which a reduction in the amount of Periodic Payments on such Mortgage Loan or related Companion Loan, as applicable,
or a change in any other material economic term of such Mortgage Loan or related Companion Loan, as applicable, (other than an
extension of the Maturity Date), becomes effective as a result of a modification of such Mortgage Loan or related Companion Loan,
as applicable, by the applicable Special Servicer, (ii) the 60th day after an uncured delinquency (without regard to
the application of any Grace Period), other than any uncured delinquency in respect of a Balloon Payment, occurs in respect of
such Mortgage Loan or related Companion Loan, as applicable, (iii) solely in the case of a delinquent Balloon Payment, (A) the
date occurring 60 days beyond the date on which that Balloon Payment was due (except as described in clause B below) or (B) if
the related Mortgagor has delivered to the master servicer or applicable special servicer (and in either such case the Master Servicer
or the applicable Special Servicer, as applicable, will be required to promptly deliver a copy thereof to the other such servicer),
a refinancing commitment acceptable to the Special Servicer prior to the date 60 days

 

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after maturity, the date occurring 120 days
after the date on which that Balloon Payment was due (or for such shorter period beyond the date on which that Balloon Payment
was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property became an REO
Property, (v) the sixtieth (60th) day after a receiver or similar official is appointed (and continues in that capacity)
in respect of the related Mortgaged Property, (vi) the sixtieth (60th) day after the date the related Mortgagor or the
tenant at a single tenant property is subject to a bankruptcy, insolvency or similar proceedings (if not dismissed within those
sixty (60) days), and (vii) the date on which the Mortgage Loan (or Serviced Whole Loan) remains outstanding 5 years following
any extension of its maturity date pursuant to this Agreement; provided, however, that an Appraisal Reduction Event
shall not occur at any time when the aggregate Certificate Balances of all Classes of Subordinate Certificates have been reduced
to zero. The applicable Special Servicer shall notify the Master Servicer, the Directing Holder and the Operating Advisor, or the
Master Servicer shall notify the applicable Special Servicer and the Operating Advisor, as applicable, promptly upon such Person
having notice or knowledge of the occurrence of any of the foregoing events. The obligation to obtain an Appraisal following the
occurrence of an Appraisal Reduction Event shall be subject to the provisions of Section 4.05 hereof.

 

“Appraisal Review
Period”: As defined in Section 4.05(b)(iii).

 

“Appraised-Out
Class”: As defined in Section 4.05(b)(i).

 

“Appraised Value”:
With respect to any Mortgaged Property (other than a Non-Serviced Mortgaged Property), the appraised value thereof as determined
by the most recent Appraisal of the Mortgaged Property securing the related Mortgage Loan, Serviced Whole Loan or Serviced AB Whole
Loan, as applicable, and with respect to a Non-Serviced Mortgaged Property, the appraised value allocable thereto, as determined
pursuant to the applicable Non-Serviced Pooling Agreement.

 

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

 

“ARD Loan”:
Any Mortgage Loan that is identified as having an Anticipated Repayment Date and Revised Rate on the Mortgage Loan Schedule.

 

“Asset Representations
Reviewer”: Park Bridge Lender Services LLC, a New York limited liability company, and its successors-in-interest.

 

“Asset Representations
Reviewer Fee”: As defined in Section 12.02(a).

 

“Asset Representations
Reviewer Fee Rate”: As defined in Section 12.02(a).

 

“Asset Representations
Reviewer Asset Review Fee”: As defined in Section 12.02(b).

 

“Asset Representations
Reviewer Termination Event”: As defined in Section 12.05(a).

 

“Asset Review”:
As defined in Section 12.01(b)(iv).

 

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“Asset Review
Notice”: As defined in Section 12.01(a).

 

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

 

“Asset Review
Report”: As defined in Section 12.01(b)(viii), a report setting forth the findings and conclusions of an Asset
Review substantially in the form attached hereto as Exhibit OO.

 

“Asset Review
Report Summary”: As defined in Section 12.01(b)(viii), a summary report setting forth the conclusions of an Asset
Review Report substantially in the form attached hereto as Exhibit PP.

 

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

 

“Asset Review
Trigger”: Any time that (1) Mortgage Loans having an aggregate outstanding principal balance of 25% or more of the aggregate
outstanding principal balance of all of the Mortgage Loans (including any REO Loans (or a portion of any REO Loan in the case of
a Whole Loan)) held by the Trust as of the end of the applicable Collection Period are Delinquent Mortgage Loans as of the end
of the related Collection Period or (2) at least 15 Mortgage Loans are Delinquent Mortgage Loans as of the end of the applicable
Collection Period and the outstanding principal balance of such Delinquent Mortgage Loans in the aggregate constitutes at least
20% of the aggregate outstanding principal balance of all of the Mortgage Loans (including any REO Loans (or a portion of any REO
Loan in the case of a Whole Loan)) as of the end of the applicable Collection Period.

 

“Asset Review
Vote Election”: As defined in Section 12.01(a).

 

“Asset Status
Report”: As defined in Section 3.19(d).

 

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

 

“Assignment
of Mortgage”: An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, which is sufficient under the laws of the jurisdiction in which the related Mortgaged Property is located to reflect of record
the sale of the Mortgage, which assignment, notice of transfer or equivalent instrument may be in the form of

 

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one or more blanket
assignments covering Mortgages encumbering Mortgaged Properties located in the same jurisdiction, if permitted by law and acceptable
for recording.

 

“Assumed Scheduled
Payment”: For any Collection Period and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan)
that is delinquent in respect of its Balloon Payment or any REO Loan (excluding, for purposes of determining or making P&I
Advances, the portion allocable to any related Companion Loan), an amount equal to the sum of (a) the principal portion of the
Periodic Payment that would have been due on such Mortgage Loan or REO Loan on the related Due Date based on the constant payment
required by the related Mortgage Note or the original amortization schedule of such Mortgage Loan (as calculated with interest
at the related Mortgage Rate), if applicable, assuming such Balloon Payment has not become due, after giving effect to any reduction
in the principal balance thereof occurring in connection with a modification of such Mortgage Loan in connection with a default
or bankruptcy (or similar proceeding), and (b) interest on the Stated Principal Balance of such Mortgage Loan or REO Loan (excluding,
for purposes of determining P&I Advances, the portion allocable to any related Companion Loan, if applicable) at the applicable
Mortgage Rate (net of interest at the Servicing Fee Rate).

 

“Authenticating
Agent”: The Certificate Administrator or any agent of the Certificate Administrator appointed to act as Authenticating
Agent pursuant to Section 5.02(a).

 

“Available Funds”:
With respect to any Distribution Date, will equal (i) with respect to distributions to be made on the Pooled Certificates, the
Class R Certificates and any Trust Component, the Pooled Available Funds, (ii) in the case of the distributions to be made on the
AMA Plaza Loan-Specific Certificates and the Class R Certificates, the AMA Plaza Available Funds and (iii) in the case of distributions
to be made on the 225 Bush Street Loan-Specific Certificates and the Class R Certificates, the 225 Bush Street Available Funds.

 

“Balloon Mortgage
Loan”: Any Mortgage Loan or Companion Loan that by its original terms or by virtue of any modification entered into as
of the Closing Date provides for an amortization schedule for such Mortgage Loan or Companion Loan extending beyond its Maturity
Date.

 

“Balloon Payment”:
With respect to any Balloon Mortgage Loan, as of any date of determination, the Periodic Payment payable on the Maturity Date of
such Balloon Mortgage Loan.

 

“Bankruptcy
Code”: The federal Bankruptcy Code, as amended from time to time (Title 11 of the United States Code).

 

“Base Interest
Fraction”: With respect to any Principal Prepayment on any Mortgage Loan and with respect to any Class of Class A-1,
Class A-2, Class A-3, Class A-4, Class A-AB, and Class D Certificates and Class PEZ Regular
Interests, a fraction (a) whose numerator is the greater of (x) zero and (y) the difference between (i) the Pass-Through Rate on
such Class of Certificates or Class PEZ Regular Interest, as applicable, and (ii) the discount rate used in accordance with the
related Mortgage Loan documents in calculating the Yield Maintenance Charge with respect to such Principal Prepayment and (b) whose
denominator is

 

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the greater of (x) zero and (y) the difference between (i) the Mortgage Rate on such Mortgage Loan (or with respect
to any Mortgage Loan that is part of a Serviced Whole Loan, the Mortgage Rate of such Serviced Whole Loan), and (ii) the discount
rate used in accordance with the related Mortgage Loan documents in calculating the Yield Maintenance Charge with respect to such
Principal Prepayment. However, (1) under no circumstances shall the Base Interest Fraction be greater than one or less than zero,
(2) if such discount rate is greater than or equal to the Mortgage Rate on such Mortgage Loan or Serviced Whole Loan, and is greater
than or equal to the Pass-Through Rate on such Class of Certificates, then the Base Interest Fraction will equal zero and (3) if
the discount rate is greater than or equal to the Mortgage Rate on such Mortgage Loan or Serviced Whole Loan, and is less than
the Pass-Through Rate on such Class of Certificates, then the Base Interest Fraction will be one (1). The Master Servicer shall
provide to the Certificate Administrator the discount rate referenced above for purposes of calculating the Base Interest Fraction.

 

“Book-Entry
Certificate”: Any Certificate registered in the name of the Depository or its nominee.

 

“Borrower Delayed
Reimbursements”: Any additional Trust Fund expenses and reimbursements of Advances that the related Mortgagor is required,
pursuant to a written modification agreement, to pay in the future to the Trust in its capacity as owner of the related Mortgage
Loan.

 

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

 

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

 

“Breach”:
With respect to any Mortgage Loan, a breach of any representation or warranty with respect to such Mortgage Loan set forth in Section
6(d) of the Mortgage Loan Purchase Agreement.

 

“BS-R Interest”:
The uncertificated residual interest in the 225 Bush Street Trust Subordinate Companion Loan REMIC, represented by the Class R
Certificates.

 

“Business Day”:
Any day other than a Saturday, a Sunday or a day on which banking institutions in North Carolina, California, Minnesota, New York,
Kansas, Pennsylvania, Iowa, Maryland, Delaware or any of the jurisdictions in which the respective primary servicing offices of
the Master Servicer or the Special Servicers or the Corporate Trust Offices of either the Certificate Administrator or the Trustee
are located, or the New York Stock Exchange or the

 

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Federal Reserve System of the United States of America, are authorized or obligated
by law or executive order to remain closed.

 

“CERCLA”:
The Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

“Certificate”:
Any one of the Depositor’s Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, as executed and delivered by the
Certificate Registrar and authenticated and delivered hereunder by the Authenticating Agent.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, in its capacity as certificate administrator, or if any successor
certificate administrator is appointed thereto pursuant to Section 5.08 or any successor certificate administrator appointed
hereunder. Wells Fargo Bank, National Association will perform its duties as certificate administrator hereunder through its Corporate
Trust Services division.

 

“Certificate
Administrator/Trustee Fee”: The fee to be paid to the Certificate Administrator as compensation for the Certificate Administrator’s
activities under this Agreement; provided that the Certificate Administrator/Trustee Fee includes the Trustee Fee.

 

“Certificate
Administrator/Trustee Fee Rate”: The Certificate Administrator/Trustee Fee shall be equal to the product of the rate
equal to 0.00585% per annum and the aggregate Stated Principal Balance of the Mortgage Loans (calculated in the same manner
as interest is calculated on the related Mortgage Loan) and any REO Loan (including any Non-Serviced Mortgage Loan and Trust Subordinate
Companion Loan, but not any other Companion Loan) and the Trust Subordinate Companion Loans (calculated in the same manner as interest
is calculated on the related Trust Subordinate Companion Loan) as of the preceding Distribution Date. The Certificate Administrator/Trustee
Fee includes the Trustee Fee.

 

“Certificate
Administrator’s Website”: The Certificate Administrator’s Internet website, which shall initially be located
at www.ctslink.com.

 

“Certificate
Balance”: With respect to any Class of Principal Balance Certificates, any Class PEZ Components and the Class PEZ Regular
Interests, as applicable, (i) on or prior to the first Distribution Date, an amount equal to the Original Certificate Balance of
such Class of Principal Balance Certificates, Class PEZ Regular Interests or Class PEZ Components, as applicable, as specified
in the Preliminary Statement hereto and (ii) as of any date of determination after the first Distribution Date, the Certificate
Balance of such Class of Principal Balance Certificates, any Class PEZ Components and any Class PEZ Regular Interest, as applicable,
on the Distribution Date immediately prior to such date of determination (determined as adjusted pursuant to Section 1.02(iii)).
The aggregate Certificate Balance of the Class A-S Certificates and the Class PEZ Component A-S shall be equal at all times to
the Certificate Balance of the Class A-S Regular Interest. The aggregate Certificate Balance of the Class B Certificates and the
Class B-PEZ Percentage Interest shall be equal at all times to the Certificate Balance of the Class B Regular Interest. The aggregate
Certificate Balance of the Class C Certificates and the Class C-PEZ Percentage Interest shall be equal at all times to the Certificate
Balance of the Class C Regular Interest. The original and outstanding Certificate

 

    -34-

     

    

 

Balances of the Class A-S, Class B, Class C and
Class PEZ Certificates are subject to adjustment in connection with any exchange of Class A-S, Class B and Class C Certificates
for Class PEZ Certificates, or vice versa, in each case in accordance with Section 5.09 hereof.

 

“Certificate
Factor”: With respect to any Class of Certificates (other than the Class R Certificates), as of any date of determination,
a fraction, expressed as a decimal carried to at least eight (8) places, the numerator of which is the then related Certificate
Balance or Notional Amount, and the denominator of which is the related Original Certificate Balance.

 

“Certificate
Owner”: With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Depository Participant or on the books of an indirect participating brokerage
firm for which a Depository Participant acts as agent.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and registrar appointed pursuant to
Section 5.03(a).

 

“Certificateholder”
or “Holder”: The Person in whose name a Certificate is registered in the Certificate Register or any beneficial
owner thereof; provided, however, that solely for the purposes of giving any consent, approval, waiver or taking
any action pursuant to this Agreement, any Certificate registered in the name of or beneficially owned by the Master Servicer,
any Special Servicer (including, for the avoidance of doubt, any Excluded Special Servicer), the Trustee, the Certificate Administrator,
the Depositor, the Mortgage Loan Seller, a Mortgagor, a Borrower Party or any Affiliate of any of such Persons shall be deemed
not to be outstanding (provided that notwithstanding the foregoing, any Controlling Class Certificates owned by an Excluded Controlling
Class Holder shall not be deemed to be outstanding as to such Excluded Controlling Class Holder solely with respect to any related
Excluded Controlling Class Loan; and provided, further, that any Controlling Class Certificates owned by the General Special Servicer
or an Affiliate thereof shall not be deemed to be outstanding as to the General Special Servicer or such Affiliate solely with
respect to any related Excluded Special Servicer Loan), and the Voting Rights to which it is entitled shall not be taken into account
in determining whether the requisite percentage of Voting Rights necessary to effect any such consent, approval, waiver or take
any such action has been obtained; provided, however, that the foregoing restrictions shall not apply in the case
of the Master Servicer, any Special Servicer (including, for the avoidance of doubt, any Excluded Special Servicer), the Trustee,
the Certificate Administrator, the Depositor, the Mortgage Loan Seller or any Affiliate of any of such Persons unless such consent,
approval or waiver sought from such party would in any way increase its compensation or limit its obligations in the named capacities
hereunder or waive a Servicer Termination Event or trigger an Asset Review with respect to such Mortgage Loan; provided,
further, that so long as there is no Servicer Termination Event with respect to the Master Servicer or a Special Servicer,
the Master Servicer and such Special Servicer or any such Affiliate thereof shall be entitled to exercise such Voting Rights with
respect to any issue which could reasonably be believed to adversely affect such party’s compensation or increase its obligations
or liabilities hereunder; and provided, further, that such restrictions shall not apply to (i) the exercise of any
Special Servicer’s, the Master Servicer’s or the Mortgage Loan Seller’s rights, if any, or any of their Affiliates
as a member of the Controlling Class or (ii) any Affiliate of the Depositor, the Master Servicer, any Special Servicer, the Trustee,
or the Certificate Administrator that has

 

    -35-

     

    

 

provided an Investor Certification in which it has certified as to the existence of certain
policies and procedures restricting the flow of information between it and the Depositor, the Master Servicer, such Special Servicer,
the Trustee, or the Certificate Administrator, as applicable. The Trustee and the Certificate Administrator shall each be entitled
to request and rely upon a certificate of the Master Servicer, any Special Servicer or the Depositor in determining whether a Certificate
is registered in the name of an Affiliate of such Person. All references herein to “Holders” or “Certificateholders”
shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and the Depository
Participants, except as otherwise specified herein; provided, however, that the parties hereto shall be required
to recognize as a “Holder” or “Certificateholder” only the Person in whose name a Certificate is registered
in the Certificate Register. The Trustee shall be the Holder of the Lower-Tier Regular Interests for the benefit of the Certificateholders.

 

“Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of the applicable Special Servicer
pursuant to Section 7.01(d) (other than as a result of the replacement of the applicable Special Servicer at the recommendation
of the Operating Advisor), the Holders of Certificates evidencing at least 75% of the aggregate Voting Rights (other than with
respect to the termination of the Asset Representations Reviewer, taking into account the application of Realized Losses and the
application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance of the Certificates) of all Principal
Balance Certificates on an aggregate basis.

 

“Certification
Parties”: As defined in Section 11.06.

 

“Certification
Party”: Any one of the Certification Parties.

 

“Certifying
Person”: As defined in Section 11.06.

 

“Certifying
Servicer”: As defined in Section 11.09.

 

“Class”:
With respect to any Certificates, Lower-Tier Regular Interests or Trust Subordinate Companion Loan REMIC Regular Interests, all
of the Certificates bearing the same alphabetical (and, if applicable, numerical) Class designation, each designated Trust Subordinate
Companion Loan REMIC Regular Interest, each designated Lower-Tier Regular Interest and each Class PEZ Regular Interest.

 

“Class A Certificate”:
Any Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class A-S Certificate.

 

“Class A-1 Certificate”:
A Certificate designated as “Class A-1” on the face thereof, in the form of Exhibit A-1 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-1 Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 1.731%.

 

    -36-

     

    

 

“Class A-2 Certificate”:
A Certificate designated as “Class A-2” on the face thereof, in the form of Exhibit A-2 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-2 Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 2.905%.

 

“Class A-3 Certificate”:
A Certificate designated as “Class A-3” on the face thereof, in the form of Exhibit A-3 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-3 Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.178%.

 

“Class A-4 Certificate”:
A Certificate designated as “Class A-4” on the face thereof, in the form of Exhibit A-4 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-4 Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) the Weighted Average
Net Mortgage Rate for such Distribution Date and (ii) 3.442%.

 

“Class A-AB
Certificate”: A Certificate designated as “Class A-AB” on the face thereof, in the form of Exhibit A-5
hereto, and a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-AB
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) the Weighted
Average Net Mortgage Rate for such Distribution Date and (ii) 3.278%.

 

“Class A-AB
Scheduled Principal Balance”: With respect to any Distribution Date, the planned principal amount for such Distribution
Date specified in Schedule 2 hereto relating to the Class A-AB Certificates.

 

“Class A-S Certificate”:
A Certificate designated as “Class A-S” on the face thereof, in the form of Exhibit A-9 hereto, and evidencing
beneficial ownership of the Class A-S Specific Grantor Trust Assets.

 

“Class A-S Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) the Weighted Average
Net Mortgage Rate for such Distribution Date and (ii) 3.645%.

 

“Class A-S Percentage
Interest”: As of any date of determination, with respect to the Class A-S Regular Interest and the Class A-S Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class A-S Certificates, and
the denominator of which is the Certificate Balance of the Class A-S Regular Interest.

 

    -37-

     

    

 

“Class A-S-PEZ
Percentage Interest”: As of any date of determination, with respect to the Class A-S Regular Interest and the Class PEZ
Certificates, a percentage interest equal to 100.0% minus the Class A-S Percentage Interest.

 

“Class A-S Regular
Interest”: The uncertificated interest corresponding to the Class A-S Certificates and the Class PEZ Certificates (to
the extent of the Class A-S-PEZ Percentage Interest of the Class A-S Regular Interest), constituting a “regular interest”
in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class A-S Regular
Interest Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Class A-S Pass-Through
Rate.

 

“Class A-S Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class A-S Percentage Interest of the Class
A-S Regular Interest and (ii) amounts held from time to time in the Class PEZ Distribution Account that represent distributions
of the Class A-S Percentage Interest in the Class A-S Regular Interest.

 

“Class AMA-A
Certificate”: A Certificate designated as “Class AMA-A” on the face thereof, in the form of Exhibit A-17
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the AMA Plaza Trust Subordinate Companion Loan.

 

“Class AMA-A
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.199416%.

 

“Class AMA-B
Certificate”: A Certificate designated as “Class AMA-B” on the face thereof, in the form of Exhibit A-18
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the AMA Plaza Trust Subordinate Companion Loan.

 

“Class AMA-B
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.503849%.

 

“Class AMA-C
Certificate”: A Certificate designated as “Class AMA-C” on the face thereof, in the form of Exhibit A-19
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the AMA Plaza Trust Subordinate Companion Loan.

 

“Class AMA-C
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.813991%.

 

“Class AMA-D
Certificate”: A Certificate designated as “Class AMA-D” on the face thereof, in the form of Exhibit A-20
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the AMA Plaza Trust Subordinate Companion Loan.

 

    -38-

     

    

 

“Class AMA-D
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Net Mortgage Rate on
the AMA Plaza Trust Subordinate Companion Loan for such Distribution Date.

 

“Class B Certificate”:
A Certificate designated as “Class B” on the face thereof, in the form of Exhibit A-10 hereto, and evidencing
beneficial ownership of the Class B Specific Grantor Trust Assets.

 

“Class B Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to (i) the Weighted Average Net Mortgage
Rate for such Distribution Date minus (ii) 0.101%.

 

“Class B Percentage
Interest”: As of any date of determination, with respect to the Class B Regular Interest and the Class B Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class B Certificates, and the
denominator of which is the Certificate Balance of the Class B Regular Interest.

 

“Class B-PEZ
Percentage Interest”: As of any date of determination, with respect to the Class B Regular Interest and the Class PEZ
Certificates, a percentage interest equal to 100.0% minus the Class B Percentage Interest.

 

“Class B Regular
Interest”: The uncertificated interest corresponding to the Class B Certificates and the Class PEZ Certificates (to the
extent of the Class B-PEZ Percentage Interest of the Class B Regular Interest), constituting a “regular interest” in
the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class B Regular
Interest Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Class B Pass-Through
Rate.

 

“Class B Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class B Percentage Interest of the Class B
Regular Interest and (ii) amounts held from time to time in the Class PEZ Distribution Account that represent distributions of
the Class B Percentage Interest in the Class B Regular Interest.

 

“Class 225-A
Certificate”: A Certificate designated as “Class 225-A” on the face thereof, in the form of Exhibit A-22
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

“Class 225-A
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 2.635985%.

 

“Class 225-B
Certificate”: A Certificate designated as “Class 225-B” on the face thereof, in the form of Exhibit A-23
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

    -39-

     

    

 

“Class 225-B
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 2.993892%.

 

“Class 225-C
Certificate”: A Certificate designated as “Class 225-C” on the face thereof, in the form of Exhibit A-24
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

“Class 225-C
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 3.777571%.

 

“Class 225-D
Certificate”: A Certificate designated as “Class 225-D” on the face thereof, in the form of Exhibit A-25
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

“Class 225-D
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 4.766193%.

 

“Class 225-E
Certificate”: A Certificate designated as “Class 225-E” on the face thereof, in the form of Exhibit A-26
hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions, which relates
solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

“Class 225-E
Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to a fixed rate of 5.544562%.

 

“Class C Certificate”:
A Certificate designated as “Class C” on the face thereof, in the form of Exhibit A-12 hereto, and evidencing
beneficial ownership of the Class C Specific Grantor Trust Assets.

 

“Class C Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate
for such Distribution Date.

 

“Class C Percentage
Interest”: As of any date of determination, with respect to the Class C Regular Interest and the Class C Certificates,
a percentage interest equal to a fraction, the numerator of which is the Certificate Balance of the Class C Certificates, and the
denominator of which is the Certificate Balance of the Class C Regular Interest.

 

“Class C-PEZ
Percentage Interest”: As of any date of determination, with respect to the Class C Regular Interest and the Class PEZ
Certificates, a percentage interest equal to 100.0% minus the Class C Percentage Interest.

 

    -40-

     

    

 

“Class C Regular
Interest Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the Class C Pass-Through
Rate.

 

“Class C Regular
Interest”: The uncertificated interest corresponding to the Class C Certificates and the Class PEZ Certificates (to the
extent of the Class C-PEZ Percentage Interest of the Class C Regular Interest), constituting a “regular interest” in
the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class C Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class C Percentage Interest of the Class C
Regular Interest and (ii) amounts held from time to time in the Class PEZ Distribution Account that represent distributions of
the Class C Percentage Interest in the Class C Regular Interest.

 

“Class D Certificate”:
A Certificate designated as “Class D” on the face thereof, in the form of Exhibit A-13 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class D Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the lesser of (i) the Weighted Average
Net Mortgage Rate for such Distribution Date and (ii) 3.233%.

 

“Class E Certificate”:
A Certificate designated as “Class E” on the face thereof, in the form of Exhibit A-14 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class E Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate
for such Distribution Date.

 

“Class F Certificate”:
A Certificate designated as “Class F” on the face thereof, in the form of Exhibit A-15 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class F Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate
for such Distribution Date.

 

“Class G Certificate”:
A Certificate designated as “Class G” on the face thereof, in the form of Exhibit A-16 hereto, and evidencing
a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class G Pass-Through
Rate”: With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate
for such Distribution Date.

 

“Class LA1 Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

    -41-

     

    

 

“Class LA2 Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LA3 Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LA4 Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LAMAA
Uncertificated Interest”: An uncertificated regular interest in the AMA Plaza Trust Subordinate Companion Loan REMIC
which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate
of interest set forth in the Preliminary Statement hereto.

 

“Class LAMAB
Uncertificated Interest”: An uncertificated regular interest in the AMA Plaza Trust Subordinate Companion Loan REMIC
which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate
of interest set forth in the Preliminary Statement hereto.

 

“Class LAMAC
Uncertificated Interest”: An uncertificated regular interest in the AMA Plaza Trust Subordinate Companion Loan REMIC
which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate
of interest set forth in the Preliminary Statement hereto.

 

“Class LAMAD
Uncertificated Interest”: An uncertificated regular interest in the AMA Plaza Trust Subordinate Companion Loan REMIC
which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate
of interest set forth in the Preliminary Statement hereto.

 

“Class LAS Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LAAB
Uncertificated Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the
Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary
Statement hereto.

 

“Class LB Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original

 

    -42-

     

    

 

Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class L225A
Uncertificated Interest”: An uncertificated regular interest in the 225 Bush Street Trust Subordinate Companion Loan
REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum
rate of interest set forth in the Preliminary Statement hereto.

 

“Class L225B
Uncertificated Interest”: An uncertificated regular interest in the 225 Bush Street Trust Subordinate Companion Loan
REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum
rate of interest set forth in the Preliminary Statement hereto.

 

“Class L225C
Uncertificated Interest”: An uncertificated regular interest in the 225 Bush Street Trust Subordinate Companion Loan
REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum
rate of interest set forth in the Preliminary Statement hereto.

 

“Class L225D
Uncertificated Interest”: An uncertificated regular interest in the 225 Bush Street Trust Subordinate Companion Loan
REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum
rate of interest set forth in the Preliminary Statement hereto.

 

“Class L225E
Uncertificated Interest”: An uncertificated regular interest in the 225 Bush Street Trust Subordinate Companion Loan
REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum
rate of interest set forth in the Preliminary Statement hereto.

 

“Class LC Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LD Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LE Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LF Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

    -43-

     

    

 

“Class LG Uncertificated
Interest”: An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC
and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement
hereto.

 

“Class LR Interest”:
The uncertificated residual interest in the Lower-Tier REMIC, represented by the Class R Certificates.

 

“Class PEZ Certificate”:
A Certificate designated as “Class PEZ” on the face thereof, in the form of Exhibit A-11 hereto, and evidencing
beneficial ownership of the Class PEZ Specific Grantor Trust Assets.

 

“Class PEZ Component”:
Any of the Class PEZ Component A-S, Class PEZ Component B or Class PEZ Component C.

 

“Class PEZ Component
A-S”: The component of the Class PEZ Certificates equal to the Class A-S-PEZ Percentage Interest of the Class A-S Regular
Interest.

 

“Class PEZ Component
B”: The component of the Class PEZ Certificates equal to the Class B-PEZ Percentage Interest of the Class B Regular Interest.

 

“Class PEZ Component
C”: The component of the Class PEZ Certificates equal to the Class C-PEZ Percentage Interest of the Class C Regular Interest.

 

“Class PEZ Distribution
Account”: The segregated trust account or accounts created and maintained as a separate account or accounts by the Certificate
Administrator (on behalf of the Trustee) pursuant to Section 3.04(g) of this Agreement, which shall be entitled “Wells
Fargo Bank, National Association, as Certificate Administrator on behalf of Wilmington Trust, National Association, as Trustee,
for the benefit of the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, Class PEZ Distribution Account”, and which must be an Eligible Account or a subaccount of an Eligible Account.
The Class PEZ Distribution Account shall not be an asset of any Trust REMIC formed hereunder, but rather shall be an asset of the
Grantor Trust.

 

“Class PEZ Regular
Interests”: The Class A-S Regular Interest, the Class B Regular Interest, and the Class C Regular Interest, individually
or collectively as the context may require.

 

“Class PEZ Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Class A-S-PEZ Percentage Interest of the Class
A-S Regular Interest, the Class B-PEZ Percentage Interest of the Class B Regular Interest and the Class C-PEZ Percentage Interest
of the Class C Regular Interest and (ii) amounts held from time to time in the Class PEZ Distribution Account that represent distributions
of the Class A-S-PEZ Percentage Interest, the Class B-PEZ Percentage Interest and the Class C-PEZ Percentage Interest in the related
Class PEZ Regular Interests.

 

    -44-

     

    

 

“Class
R Certificate”: A Certificate designated as “Class R” on the face thereof, in the form of Exhibit A-28
hereto, and evidencing the sole class of “residual interest” in each Trust REMIC for purposes of the REMIC Provisions.

 

“Class
S Certificate”: A Certificate designated as “Class S” on the face thereof, in the form of Exhibit A-29
hereto, and evidencing beneficial ownership of the Class S Specific Grantor Trust Assets.

 

“Class
S Specific Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) any Excess Interest and (ii) amounts
held from time to time in the Excess Interest Distribution Account.

 

“Class
UR Interest”: The uncertificated residual interest in the Upper-Tier REMIC, represented by the Class R Certificates.

 

“Class
X Certificates”: The Class X-A, Class X-B, Class X-D, Class X-AMA and Class X-225 Certificates, as the context may require.

 

“Class
X-A Certificate”: A Certificate designated as “Class X-A” on the face thereof, in the form of Exhibit
A-6 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
X-A Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class A Certificates.

 

“Class
X-A Pass-Through Rate”: The Pass-Through Rate for Class X-A Certificates for any Distribution Date will equal the excess,
if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the weighted average of the Pass-Through
Rates on the Class A Certificates (other than the Class A-S Certificates) and the Class A-S Trust Component for such Distribution
Date, weighted on the basis of their respective Certificate Balances immediately prior to the Distribution Date. The Pass-Through
Rate applicable to the Class X-A Certificates for the initial Distribution Date shall be the rate set forth in the Preliminary
Statement hereto.

 

“Class
X-AMA Certificate”: A Certificate designated as “Class X-AMA” on the face thereof, in the form of Exhibit
A-21 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions,
which relates solely to the AMA Plaza Trust Subordinate Companion Loan.

 

“Class
X-AMA Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class AMA-A,
Class AMA-B, Class AMA-C and Class AMA-D Certificates.

 

“Class
X-AMA Pass-Through Rate”: The Pass-Through Rate for Class X-AMA Certificates for any Distribution Date will equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate of the AMA Plaza components for the related Distribution Date, over
(b) the weighted average of the Pass-Through Rates on the Class AMA-A, Class AMA-B, Class AMA-C and Class AMA-D Certificates for
such Distribution Date, weighted on the basis of their

 

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respective
Certificate Balances immediately prior to the Distribution Date. The Pass-Through Rate applicable to the Class X-AMA Certificates
for the initial Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-B Certificate”: A Certificate designated as “Class X-B” on the face thereof, in the form of Exhibit
A-7 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
X-B Notional Amount”: As of any date of determination, the Certificate Balance of the Class B Regular Interest.

 

“Class
X-B Pass-Through Rate”: The Pass-Through Rate for Class X-B Certificates for any Distribution Date will equal the excess,
if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate on the
Class B Regular Interest for such Distribution Date. The Pass-Through Rate applicable to the Class X-B Certificates for the initial
Distribution Date shall be the rate set forth in the Preliminary Statement hereto.

 

“Class
X-225 Certificate”: A Certificate designated as “Class X-225” on the face thereof, in the form of Exhibit
A-27 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions,
which relates solely to the 225 Bush Street Trust Subordinate Companion Loan.

 

“Class
X-225 Notional Amount”: As of any date of determination, the aggregate of the Certificate Balances of the Class 225-A,
Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates.

 

“Class
X-225 Pass-Through Rate”: The Pass-Through Rate for Class X-225 Certificates for any Distribution Date will equal the
excess, if any of (a) the Weighted Average Net Mortgage Rate of the 225 Bush Street components for the related Distribution Date,
over (b) the weighted average of the Pass-Through Rates on the Class 225-A, Class 225-B, Class 225-C, Class 225-D and Class 225-E
Certificates for such Distribution Date, weighted on the basis of their respective Certificate Balances immediately prior to the
Distribution Date. The Pass-Through Rate applicable to the Class X-225 Certificates for the initial Distribution Date shall be
the rate set forth in the Preliminary Statement hereto.

 

“Class
X-D Certificate”: A Certificate designated as “Class X-D” on the face thereof, in the form of Exhibit
A-8 hereto, and evidencing a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class
X-D Notional Amount”: As of any date of determination, the Certificate Balance of the Class D Certificates.

 

“Class
X-D Pass-Through Rate”: The Pass-Through Rate for Class X-D Certificates for any Distribution Date will equal the excess,
if any of (a) the Weighted Average Net Mortgage Rate for the related Distribution Date, over (b) the Pass-Through Rate of the
Class D Certificates. The Pass-Through Rate applicable to the Class X-D Certificates for the initial Distribution Date shall be
the rate set forth in the Preliminary Statement hereto.

 

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“Clearing
Agency”: An organization registered as a “clearing agency” pursuant to Section 17A of the Exchange Act.
The initial Clearing Agency shall be DTC.

 

“Clearstream”:
Clearstream Banking, société anonyme or any successor thereto.

 

“Closing
Date”: November 30, 2016.

 

“CMBS”:
Commercial mortgage-backed securities.

 

“Co-Lender
Agreement”: Each of the AMA Plaza Co-Lender Agreement, the 225 Bush Street Co-Lender Agreement, the U.S. Industrial
Portfolio Co-Lender Agreement, the Simon Premium Outlets Co-Lender Agreement, the 540 West Madison Co-Lender Agreement, the Hamilton
Place Co-Lender Agreement, the Embassy Suites Portland Airport Co-Lender Agreement, the Residence Inn and SpringHill Suites North
Shore Co-Lender Agreement, and any intercreditor agreement entered into in connection with the issuance to the direct or indirect
equity holders in the Mortgagor of any existing mezzanine indebtedness or any future mezzanine indebtedness permitted under the
related Mortgage Loan documents.

 

“Code”:
The Internal Revenue Code of 1986, as amended from time to time, and applicable final or temporary regulations of the U.S. Department
of the Treasury issued pursuant thereto.

 

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

 

“Collection
Account”: A segregated custodial account or accounts created and maintained by the Master Servicer pursuant to Section
3.04(a) on behalf of the Trustee for the

 

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benefit of
the Certificateholders, which shall be entitled “Wells Fargo Bank, National Association, as Master Servicer on behalf of
Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities Corporation
II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Collection Account”. Any such account or accounts shall
be an Eligible Account. Subject to the related Co-Lender Agreement and taking into account that each Companion Loan is subordinate
or pari passu, as applicable, to the related Serviced Mortgage Loan to the extent set forth in the related Co-Lender Agreement,
the subaccount described in the second paragraph of Section 3.04(b) that is part of the Collection Account shall be for
the benefit of the related Companion Holder, to the extent funds on deposit in such subaccount are attributed to such Companion
Loan and shall not be an asset of the Trust or any Trust REMIC formed hereunder.

 

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

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion
Holders”: Each of the holders of record of any Companion Loan.

 

“Companion
Loan(s)”: As defined in the Preliminary Statement.

 

“Companion
Loan Rating Agency”: means, with respect to any Serviced Companion Loan, any rating agency that was engaged by a participant
in the securitization of such Serviced Companion Loan to assign a rating to the related Serviced Companion Loan Securities.

 

“Companion
Loan Rating Agency Confirmation”: With respect to any matter involving the servicing and administration of a Serviced
Companion Loan or any related REO Property as to which any Serviced Companion Loan Securities exist (including, but not limited
to, the replacement of a Master Servicer or the applicable Special Servicer), confirmation in writing (which may be in electronic
form) by each applicable Companion Loan Rating Agency that a proposed action, failure to act or other event so specified will
not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any class of
such Serviced Companion Loan Securities (if then rated by the Companion Loan Rating Agency); provided that upon receipt
of a written waiver or other acknowledgment from the Companion Loan Rating Agency indicating its decision not to review or declining
to review the matter for which the Companion Loan Rating Agency Confirmation is sought (such written notice, a “Companion
Loan Rating Agency Declination”), or as otherwise provided in

 

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Section
3.25 of this Agreement, the requirement for the Companion Loan Rating Agency Confirmation from the applicable Companion Loan
Rating Agency with respect to such matter shall not apply.

 

“Companion
Loan Rating Agency Declination”: As defined in the definition of “Companion Loan Rating Agency Confirmation”
in this Agreement.

 

“Companion
Paying Agent”: With respect to the Serviced Companion Loans, if any, the Master Servicer in its role as Companion Paying
Agent appointed pursuant to Section 3.27.

 

“Companion
Register”: The register maintained by the Companion Paying Agent pursuant to Section 3.28.

 

“Compensating
Interest Payments”: With respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan), any related Serviced
Pari Passu Companion Loan and each Trust Subordinate Companion Loan, an amount as of any Distribution Date equal to the lesser
of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with voluntary principal prepayments received
in respect of the Mortgage Loans (other than any Non-Serviced Mortgage Loan), any related Serviced Pari Passu Companion Loan and
Trust Subordinate Companion Loans (in each case other than a Specially Serviced Mortgage Loan if the applicable Special Servicer
allowed a prepayment on such Mortgage Loan, Serviced Pari Passu Companion Loan or Trust Subordinate Companion Loan on a date other
than the applicable Due Date) for the related Distribution Date and (ii) the aggregate of (A) a portion of the Master Servicer’s
Servicing Fees for such Distribution Date calculated at a rate of 0.0025% per annum on each Mortgage Loan (other than any
Non-Serviced Mortgage Loan) (and, so long as a Whole Loan is serviced under this Agreement, any related Serviced Pari Passu Companion
Loan, (B) all Prepayment Interest Excesses received by the Master Servicer during such Collection Period with respect to the Mortgage
Loans (other than any Non-Serviced Mortgage Loan) (and, so long as a Serviced Whole Loan is serviced hereunder, any related Serviced
Whole Loan) subject to such prepayment and (C) to the extent earned on principal prepayments, net investment earnings payable
to the Master Servicer for such Collection Period received by the Master Servicer during such Collection Period with respect to
the Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and, so long as a Whole Loan is serviced hereunder, any related
Serviced Whole Loan), as applicable, subject to such prepayment. In no event will the rights of the Certificateholders to the
offset of the aggregate Prepayment Interest Shortfalls be cumulative. However, if a Prepayment Interest Shortfall occurs with
respect to a Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole Loan as a result of the Master Servicer’s
allowing the related Mortgagor to deviate (a “Prohibited Prepayment”) from the terms of the related Mortgage
Loan documents regarding Principal Prepayments (other than (V) a Non-Serviced Mortgage Loan, (W) subsequent to a default under
the related Mortgage Loan documents or if the Mortgage Loan is a Specially Serviced Mortgage Loan, (X) pursuant to applicable
law or a court order or otherwise in such circumstances where the Master Servicer is required to accept such Principal Prepayment
in accordance with the Servicing Standard, (Y) at the request or with the consent of the applicable Special Servicer or, so long
as no Control Termination Event has occurred and is continuing, and only with respect to the Mortgage Loans other than an Excluded
Loan, the Directing Holder or (Z) in connection with the payment of any

 

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Insurance and
Condemnation Proceeds, unless the Master Servicer did not apply the proceeds thereof in accordance with the terms of the related
Mortgage Loan documents and such failure causes the shortfall), then for purposes of calculating the Compensating Interest Payment
for the related Distribution Date, the Master Servicer shall pay, without regard to clause (1)(ii) above, the aggregate
amount of Prepayment Interest Shortfalls with respect to such Mortgage Loan, otherwise described in clause (1)(i) above
in connection with such Prohibited Prepayments.

 

For
the avoidance of doubt, Compensating Interest Payments with respect to each Serviced Whole Loan shall be allocated among the related
Mortgage Loan and related Serviced Pari Passu Companion Loan(s) and the related Subordinate Companion Loan(s), pro rata,
in accordance with their respective principal balances.

 

“Components”:
The AMA Plaza Components and the 225 Bush Street Components.

 

“Consultation
Termination Event”: At any date at which

 

(a)
with respect to any Mortgage Loan (other than the AMA Plaza Mortgage Loan and the 225 Bush Street Mortgage Loan) or Serviced Whole
Loan (other than the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan) (i) no Class of Control Eligible Certificates exists
where such Class’s aggregate Certificate Balance is at least equal to 25% of the Original Certificate Balance of that Class,
in each case without regard to the application of any Cumulative Appraisal Reduction Amounts, (ii) a Holder of the Class E Certificates
is the majority Controlling Class Certificateholder and has irrevocably waived its right, in writing, to exercise any of the rights
of the Controlling Class Certificateholder, and such rights have not been reinstated to a successor Controlling Class Certificateholder
pursuant to Section 3.23(l); provided, that no Consultation Termination Event resulting solely from the operation
of clause (ii) shall be deemed to have existed or be in continuance with respect to a successor Holder of Class E Certificates
that has not irrevocably waived its right to exercise any of the rights of the Controlling Class Certificateholder, or (iii) such
Mortgage Loan or Whole Loan is an Excluded Loan; and

 

(b)
with respect to the AMA Plaza Whole Loan or the 225 Bush Street Whole Loan, as applicable, at any date which either (i) such Whole
Loan is an Excluded Loan, or (ii)(A) each of a Non-Trust Subordinate Companion Loan Control Termination Event (solely with respect
to the AMA Plaza Whole Loan) and a related Trust Subordinate Companion Loan Control Termination Event exists and (B)(1) no Class
of Control Eligible Certificates exists where such Class’s aggregate Certificate Balance is at least equal to 25% of the
Original Certificate Balance of that Class, in each case without regard to the application of any Cumulative Appraisal Reduction
Amounts or (2) a Holder of the Class E Certificates is the majority Controlling Class Certificateholder and has irrevocably waived
its right, in writing, to exercise any of the rights of the Controlling Class Certificateholder, and such rights have not been
reinstated to a successor Controlling Class Certificateholder pursuant to Section 3.23(l); provided that no Consultation
Termination Event resulting solely from the operation of clause (2) will be deemed to have existed or be in continuance with respect
to a successor holder of Class E certificates that has not irrevocably waived its right to exercise any of the rights of the Controlling
Class Certificateholder;

 

    -50-

     

    

 

provided that, if at any time, the Certificate Balance of the Class A-1, Class A-2, Class A-3, Class
A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates have been reduced to zero as a result of the
allocation of principal payments on the Mortgage Loans, then no Consultation Termination Event will be deemed to occur.

 

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

 

“Control
Termination Event”: The occurrence of

 

(a)
with respect to any Mortgage Loan (other than the AMA Plaza Mortgage Loan and the 225 Bush Street Mortgage Loan) or Serviced Whole
Loan (other than the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan) (i) the Certificate Balance of the Class E Certificates
(taking into account the application of any Cumulative Appraisal Reduction Amounts to notionally reduce the Certificate Balance
of such Class in accordance with Section 4.05(a) hereof) being reduced to less than 25% of the Original Certificate Balance
of such Class, (ii) a Holder of the Class E Certificates becoming the majority Controlling Class Certificateholder and has irrevocably
waived its right, in writing, to exercise any of the rights of the Controlling Class Certificateholder and such rights have not
been reinstated to a successor Controlling Class Certificateholder pursuant to Section 3.23(l); provided that no
Control Termination Event resulting solely from the operation of clause (ii) will be deemed to have existed or be in continuance
with respect to a successor holder of Class E certificates that has not irrevocably waived its right to exercise any of the rights
of the Controlling Class Certificateholder, or (iii) such Mortgage Loan or Whole Loan becoming an Excluded Loan; and

 

(b)
with respect to the AMA Plaza Whole Loan or the 225 Bush Street Whole Loan, as applicable, at any date on which either (i) such
Whole Loan is an Excluded Loan, or (ii)(A) each of a Non-Trust Subordinate Companion Loan Control Termination Event (solely with
respect to the AMA Plaza Whole Loan) and a related Trust Subordinate Companion Loan Control Termination Event exists and (B)(1)
the Certificate Balance of the Class E Certificates (taking into account the application of any Cumulative Appraisal Reduction
Amounts to notionally reduce the Certificate Balance of such Class in accordance with Section 4.05(a) hereof) being reduced
to less than 25% of the Original Certificate Balance of such Class or (2) a Holder of the Class E Certificates becoming the majority
Controlling Class Certificateholder and has irrevocably waived its right, in writing, to exercise any of the rights of the Controlling
Class Certificateholder and such rights have not been reinstated to a successor Controlling Class Certificateholder pursuant to
Section 3.23(l); provided that no Control Termination Event resulting solely from the operation of clause (ii) will
be deemed to have existed or be in continuance with respect to a successor holder of Class E certificates that has not irrevocably
waived its right to exercise any of the rights of the Controlling Class Certificateholder;

 

provided
that, if at any time, the Certificate Balance of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class
B, Class PEZ, Class C and Class D Certificates have been reduced to zero as a result of the allocation of principal payments on
the Mortgage Loans, then no Control Termination Event will be deemed to occur.

 

    -51-

     

    

 

“Controlling
Class”: As of any date of determination, the most subordinate Class of Control Eligible Certificates then outstanding
that has a then aggregate Certificate Balance as notionally reduced by any Cumulative Appraisal Reduction Amounts allocable to
such Class in accordance with Section 4.05(a), at least equal to 25% of the Original Certificate Balance of that Class;
provided that if, at any time, the Certificate Balances of all Control Eligible Certificates, as notionally reduced by
any Appraisal Reduction Amounts (but without regard to any Collateral Deficiency Amount) allocable to such classes, have been
reduced to zero, the Controlling Class will be the most senior Class of Control Eligible Certificates that has a principal balance
greater than zero; provided, further that if at any time the Certificate Balance of the Class A-1, Class A-2, Class
A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates have been reduced to zero as a result
of the allocation of principal payments on the Mortgage Loans, then the “Controlling Class” will be the most subordinate
class of Control Eligible Certificates that has an aggregate Certificate Balance greater than zero without regard to the application
of Appraisal Reduction Amounts (or any Collateral Deficiency Amount) to notionally reduce the Certificate Balance of such Class.
The Controlling Class as of the Closing Date will be the Class G Certificates.

 

“Controlling
Class Certificateholders”: Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class
as determined by the Certificate Registrar, from time to time, upon request by any party hereto. The Trustee, the Master Servicer,
any Special Servicer or the Operating Advisor may from time to time request (the cost of which being an expense of the Trust)
that the Certificate Administrator provide a list of the Holders (or Certificate Owners, if applicable) of the Controlling Class
and the Certificate Administrator shall promptly provide such list without charge to such Trustee, Master Servicer, Operating
Advisor or Special Servicers, as applicable. The Trustee, the Master Servicer, the Special Servicers and the Operating Advisor
shall be entitled to rely on any such list so provided.

 

“Controlling
Class Representative”: The initial Controlling Class Representative shall be Eightfold Real Estate Capital Fund,
L.P. Thereafter, the Controlling Class Representative shall be the Controlling Class Certificateholder (or a representative thereof)
selected by more than 50% of the Controlling Class Certificateholders, (by Certificate Balance, as determined by the Certificate
Registrar from time to time); provided, however, that (i) absent that selection, or (ii) until a Controlling Class
Representative is so selected or (iii) upon receipt of a notice from a majority of the Controlling Class Certificateholders, by
Certificate Balance, that a Controlling Class Representative is no longer designated, then the Controlling Class Certificateholder
that represents that it owns the largest aggregate Certificate Balance of the Controlling Class (with evidence of ownership) or
a representative thereof, will be the Controlling Class Representative; provided, however, that, in the case of
this clause (iii), in the event that no one Holder owns the largest aggregate Certificate Balance of the Controlling Class,
then there will be no Controlling Class Representative until appointed in accordance with the terms of this Agreement. After the
occurrence and during the continuance of a Control Termination Event, the Controlling Class Representative shall only retain its
consultation rights to the extent specifically provided for herein. After the occurrence and continuation of a Consultation Termination
Event, there will be no Controlling Class Representative. The Depositor shall promptly provide the name and contact information
for the initial Controlling Class Representative upon request of any party to this Agreement and any such requesting party may
conclusively rely on the name and contact information provided by the Depositor. In the

 

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 event the Controlling Class Certificateholder
has elected to irrevocably waive its right to appoint a Controlling Class Representative or to exercise any of the rights of the
Controlling Class Certificateholder, there will be no Controlling Class Representative and no party will be entitled to exercise
any of the rights of the Controlling Class Representative until such time as a Controlling Class Certificateholder is reinstated
pursuant to Section 3.23(l) hereof and a new Controlling Class Representative is appointed in accordance with the terms
hereof. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the Controlling
Class Representative has not changed until such parties receive written notice of a replacement of the Controlling Class Representative
from a party holding the requisite interest in the Controlling Class, or the resignation of the then-current Controlling Class
Representative.

 

“Corporate
Trust Office”: The principal corporate trust offices of the Trustee and the Certificate Administrator at which at any
particular time its corporate trust business with respect to this Agreement shall be administered, which offices at the date of
the execution of this Agreement are located (i) with respect to the Trustee, at 1100 North Market Street, Wilmington, Delaware
19890, Attention: CMBS Trustee GS 2016-GS4 and (ii) with respect to the Certificate Administrator, at 9062 Old Annapolis Road,
Columbia, Maryland 21045-1951, Attention: Corporate Trust Services (CMBS) GS Mortgage Securities Trust 2016-GS4, provided
that, for certificate transfer purposes, it is located at Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113,
Attention: Certificate Transfer Services GS 2016-GS4.

 

“Corrected
Loan”: Any Specially Serviced Mortgage Loan that has become current and remained current for three (3) consecutive Periodic
Payments (for such purposes taking into account any modification or amendment of the related Mortgage Loan or Companion Loan,
as applicable, whether by a consensual modification or in connection with a bankruptcy, insolvency or similar proceeding involving
the Mortgagor), and (provided that no additional default is foreseeable in the reasonable judgment of the applicable Special
Servicer and no other event or circumstance exists that causes such Mortgage Loan or Companion Loan, as applicable, to otherwise
constitute a Specially Serviced Mortgage Loan) the servicing of which the applicable Special Servicer has returned to the Master
Servicer pursuant to Section 3.19(a).

 

“CREFC®”:
The Commercial Real Estate Finance Council®, or any successor organization reasonably acceptable to the Certificate
Administrator, the Master Servicer, each Special Servicer and, prior to the occurrence and continuance of a Control Termination
Event, the Directing Holder.

 

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

 

“CREFC®
Appraisal Reduction Amount Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Appraisal Reduction Amount Template” available as of the Closing Date on the
CREFC® Website, or such

 

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other
form for the presentation of such information and containing such additional information as may from time to time be approved
by the CREFC® for commercial mortgage securities transactions generally.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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“CREFC®
Intellectual Property Royalty License Fee”: With respect to each Mortgage Loan and REO Loan (including any portion
of an REO Loan related to a Trust Subordinate Companion Loan, but excluding the portion of an REO Loan related to any other Serviced
Companion Loan) and Trust Subordinate Companion Loan and for any Distribution Date, the amount accrued during the related Interest
Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on the Stated Principal Balance of
such Mortgage Loan or REO Loan as of the close of business on the Distribution Date in such Interest Accrual Period; provided
that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related
interest payment due or deemed due on the related Mortgage Loan or REO Loan is computed and shall be prorated for partial periods.
For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be deemed payable by the
Master Servicer from the Lower-Tier REMIC or Grantor Trust, as applicable.

 

“CREFC®
Intellectual Property Royalty License Fee Rate”: With respect to each Mortgage Loan and Trust Subordinate Companion
Loan, a rate equal to 0.0005% per annum.

 

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

 

“CREFC®
Investor Reporting Package”: The collection of reports specified by the CREFC® from time to time
as the “CREFC® Investor Reporting Package.” As of the Closing Date, the CREFC® Investor
Reporting Package contains seven electronic files ((1) CREFC® Loan Setup File, (2) CREFC® Loan Periodic
Update File, (3) CREFC® Property File, (4) CREFC® Bond Level File, (5) CREFC® Collateral
Summary File, (6) CREFC® Financial File and (7) CREFC® Special Servicer Loan File) and nine surveillance
reports ((1) CREFC® Servicer Watch List, (2) CREFC® Delinquent Mortgage Loan Status Report, (3)
CREFC® REO Status Report, (4) CREFC® Comparative Financial Status Report, (5) CREFC®
Historical Loan Modification/Forbearance and Corrected Mortgage Loan Report, (6) CREFC® Operating Statement Analysis
Report, (7) CREFC® NOI Adjustment Worksheet, (8) CREFC® Loan Level Reserve/LOC Report and (9) with
respect to Mortgage Loans that have a Companion Loan, the CREFC® Total Loan Report). In addition, the CREFC®
Investor Reporting Package shall include the CREFC® Advance Recovery Report. In addition, the CREFC®
Investor Reporting Package shall include the following nine templates: (1) CREFC® Appraisal Reduction Amount
Template, (2) CREFC® Servicer Realized Loss Template, (3) CREFC® Reconciliation of Funds Template,
(4) CREFC® Historical Bond/Collateral Realized Loss Reconciliation Template, (5) CREFC® Historical
Liquidation Loss Template, (6) CREFC® Interest Shortfall Reconciliation Template, (7) CREFC® Loan
Modification Report, (8) CREFC® Loan Liquidation Report and (9) CREFC® REO Liquidation Report. The
CREFC® Investor Reporting Package shall be substantially in the form of, and containing the information called
for in, the downloadable forms of the “CREFC® IRP” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information or reports
as may from time to time be approved by the CREFC® for commercial mortgage backed securities transactions generally.
For the purposes of the production of the CREFC® Comparative Financial Status Report by the Master Servicer or
the applicable Special Servicer of any such report that is required to state information for any period prior to the Cut-off Date,
the

 

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 Master Servicer or the applicable Special Servicer, as the case may be, may conclusively rely (without independent verification),
absent manifest error, on information provided to it by the Mortgage Loan Seller or by the related Mortgagor or (x) in the case
of such a report produced by the Master Servicer, by the applicable Special Servicer (if other than the Master Servicer or an
Affiliate thereof) and (y) in the case of such a report produced by any Special Servicer, by the Master Servicer (if other than
such Special Servicer or an Affiliate thereof).

 

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

 

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

 

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

 

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

 

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

 

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

 

“CREFC®
NOI Adjustment Worksheet”: The worksheet in the “NOI Adjustment Worksheet” format substantially in
the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally.

 

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

 

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

 

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

 

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

 

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

 

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

 

“CREFC®
Servicer Watch List”: A monthly report, as of each Determination Date, including and identifying each Non-Specially
Serviced Mortgage Loan satisfying the “CREFC® Portfolio Review Guidelines” approved from time to time
by the CREFC® in the “CREFC® Servicer Watch List” format substantially in the form of
and containing the information called for therein for the Mortgage Loans, or such other form (including other portfolio review
guidelines) for the presentation of such information as may be approved from time to time by the CREFC® for commercial
mortgage securities transactions generally.

 

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

 

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“CREFC®
Total Loan Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Total Loan Report” available as of the Closing Date on the CREFC® Website,
or in such other form for the presentation of such information and containing such additional information as may from time to
time be adopted by the CREFC® for commercial mortgage-backed securities transactions and is reasonably acceptable
to the Master Servicer.

 

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

 

“Cross-Over
Date”: The Distribution Date on which the Certificate Balances of the Subordinate Certificates are (or are expected
to be) reduced to zero as a result of the allocation of Pooled Realized Losses to such Certificates.

 

“Crossed
Mortgage Loan Group”: With respect to (i) any Mortgage Loan that consists of more than one commercial mortgage loan,
the underlying group of loans that are cross-collateralized and cross-defaulted with each other and (ii) any two or more individual
Mortgage Loans that are cross-collateralized and cross-defaulted with each other, such cross-collateralized and cross-defaulted
Mortgage Loans.

 

“Crossed
Underlying Loan”: With respect to any Crossed Mortgage Loan Group, a Mortgage Loan that is cross-collateralized and
cross-defaulted with one or more other Mortgage Loans within such Crossed Mortgage Loan Group.

 

“Crossed
Underlying Loan Repurchase Criteria”: With respect to any Crossed Mortgage Loan Group as to which one or more (but not
all) of the Crossed Underlying Loans therein are affected by a Material Defect (the Crossed Underlying Loan(s) in such Crossed
Mortgage Loan Group affected by such Material Defect, for purposes of this definition, the “affected Crossed Underlying
Loans” and the other Crossed Underlying Loan(s) in such Crossed Mortgage Loan Group, for purposes of this definition, the
“remaining Crossed Underlying Loans”) (i) the weighted average Debt Service Coverage Ratio for all the remaining Crossed
Underlying Loans for the four most recently reported calendar quarters preceding the repurchase or substitution shall not be less
than the greater of (a) the weighted average Debt Service Coverage Ratio for the entire such Crossed Mortgage Loan Group, including
the affected Crossed Underlying Loan(s), for the four most recently reported calendar quarters preceding the repurchase or substitution,
and (b) 1.25x, (ii) the weighted average LTV Ratio for all the remaining Crossed Underlying Loans determined at the time of repurchase
or substitution based upon an Appraisal obtained by the applicable Special Servicer at the expense of the Mortgage Loan Seller
shall not be greater than the least of (a) the weighted average LTV Ratio for the entire such Crossed Mortgage Loan Group, including
the affected Crossed Underlying Loan(s), determined at the time of repurchase or substitution based upon an Appraisal obtained
by the applicable Special Servicer at the expense of the Mortgage Loan Seller, (b) the weighted average LTV Ratio for the entire
such Crossed Mortgage Loan Group, including the affected Crossed Underlying Loan(s), as of the Cut-off Date and (c) 75%, (iii)
the Mortgage Loan Seller, at its expense, shall have furnished the Trustee and the Certificate Administrator with an Opinion of
Counsel that any modification relating to the repurchase or substitution of a Crossed Underlying Loan shall not cause an Adverse
REMIC Event, (iv) the Mortgage Loan Seller causes the

 

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 affected Crossed Underlying Loan to become not cross-collateralized and
cross-defaulted with the remaining related Crossed Underlying Loans prior to such repurchase or substitution or otherwise forbears
from exercising enforcement rights against the Primary Collateral for any Crossed Underlying Loan(s) remaining in the Trust (while
the Trust forbears from exercising enforcement rights against the Primary Collateral for the Mortgage Loan removed from the Trust)
and (v) (other than with respect to any Excluded Loan) unless a Control Termination Event has occurred and is continuing, the
Directing Holder shall have consented to the repurchase or substitution of the affected Crossed Underlying Loan, which consent
shall not be unreasonably withheld, conditioned or delayed.

 

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

 

“Custodian”:
A Person who is at any time appointed by the Trustee pursuant to Section 8.11 as a document custodian for the Mortgage
Files, which Person shall not be the Depositor, the Mortgage Loan Seller or an Affiliate of any of them. The Certificate Administrator
shall be the initial Custodian. Wells Fargo Bank, National Association will perform its duties as Custodian hereunder through
its Document Custody division.

 

“Cut-off
Date”: With respect to each Mortgage Loan and Trust Subordinate Companion Loan, the related Due Date of such Mortgage
Loan and Trust Subordinate Companion Loan in November 2016, or with respect to any Mortgage Loan that has its first Due Date in
December 2016, the date that would have otherwise been the related Due Date in November 2016.

 

“Cut-off
Date Principal Balance”: With respect to any Mortgage Loan and Trust Subordinate Companion Loan, the outstanding principal
balance of such Mortgage Loan and Trust Subordinate Companion Loan, as of the Cut-off Date, after application of all payments
of principal due on or before such date, whether or not received.

 

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

 

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“Debt
Service Coverage Ratio”: With respect to any Mortgage Loan, for any twelve-month period covered by an annual operating
statement for the related Mortgaged Property, the ratio of (i) Net Operating Income produced by the related Mortgaged Property
during such period to (ii) the aggregate amount of Periodic Payments (other than any Balloon Payment) due under such Mortgage
Loan during such period; provided that with respect to the Mortgage Loans identified on Annex A-1 to the Prospectus as
paying interest only for a specified period of time set forth in the related Mortgage Loan documents and then paying principal
and interest, the related Periodic Payment will be calculated (for purposes of this definition only) to include interest and principal
(based on the remaining amortization term indicated in the Mortgage Loan Schedule).

 

“Default
Interest”: With respect to any Mortgage Loan or Companion Loan, all interest accrued in respect of such Mortgage Loan
or Companion Loan during such Collection Period provided for in the related Mortgage Note or Mortgage as a result of a default
(exclusive of late payment charges) that is in excess of interest at the related Mortgage Rate accrued on the unpaid principal
balance of such Mortgage Loan or Companion Loan outstanding from time to time.

 

“Defaulted
Mortgage Loan”: A Mortgage Loan (other than a Non-Serviced Mortgage Loan) or a Serviced Whole Loan (i) that is delinquent
at least sixty (60) days in respect of its Periodic Payments or delinquent in respect of its Balloon Payment, if any; provided
that in respect of a Balloon Payment, such period shall be 120 days after the related Maturity Date if the related Mortgagor
has provided the Master Servicer, within 60 days after the related Maturity Date, a written and fully executed (subject only to
customary final closing conditions) commitment, letter of intent, or otherwise binding application for refinancing or similar
document that is, in each case, binding upon an acceptable lender or signed purchase agreement reasonably satisfactory in form
and substance to the Master Servicer (and the Master Servicer shall promptly forward a copy of such document to the applicable
Special Servicer, if it is not evident that a copy has been delivered to such other party), which provides that such refinancing
or purchase will occur within 120 days of such related Maturity Date; and, in either case, such delinquency is to be determined
without giving effect to any Grace Period permitted by the related Mortgage or Mortgage Note and without regard to any acceleration
of payments under the related Mortgage and Mortgage Note or (ii) as to which the Master Servicer or applicable Special Servicer
has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the related Mortgage
Note. For the avoidance of doubt, a defaulted Companion Loan (other than a Trust Subordinate Companion Loan) does not constitute
a “Defaulted Mortgage Loan.”

 

“Defeasance
Accounts”: As defined in Section 3.18(k).

 

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

 

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requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder.

 

“Deficient
Valuation”: With respect to any Mortgage Loan or Serviced Whole Loan, as applicable, a valuation by a court of competent
jurisdiction of the Mortgaged Property in an amount less than the then outstanding principal balance of such Mortgage Loan or
Serviced Whole Loan valuation results from a proceeding initiated under the Bankruptcy Code.

 

“Definitive
Certificate”: Any Certificate in definitive, fully registered form without interest coupons. Initially, the Class R
Certificates and any Certificate issued pursuant to Sections 5.02(c) and (d) shall be Definitive Certificates.

 

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

 

“Denomination”:
With respect to any Certificate or any beneficial interest in a Certificate the amount (i) (a) set forth on the face thereof,
(b) set forth on a schedule attached thereto or (c) in the case of any beneficial interest in a Book-Entry Certificate, the interest
of the related Certificate Owner in the applicable Class of Certificates as reflected on the books and records of the Depository
or related Depository Participant, as applicable, (ii) expressed in terms of initial Certificate Balance or initial Notional Amount,
as applicable, and (iii) in an authorized denomination, as set forth in Section 5.01(a).

 

“Depositor”:
GS Mortgage Securities Corporation II, a Delaware corporation, or its successor in interest.

 

“Depository”:
DTC, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates
that are to be Book-Entry Certificates, is Cede & Co. The Depository shall at all times be a “clearing corporation”
as defined in Section 8-102(3) of the UCC of the State of New York and a “clearing agency” registered pursuant to
the provisions of Section 17A of the Exchange Act.

 

“Depository
Participant”: A broker, dealer, bank or other financial institution or other Person for whom from time to time the Depository
effects book-entry transfers and pledges of securities deposited with the Depository.

 

“Designated
Servicing Documents”: With respect to any Mortgage Loan or Serviced Whole Loan, collectively the following documents:

 

(1)       (A)
a copy of the executed Mortgage Note for such Mortgage Loan (or, alternatively, if the original executed Mortgage Note has been
lost, a copy of a lost note affidavit and indemnity with a copy of such Mortgage Note), and (B) in the case of a Serviced Whole
Loan, a copy of the executed Mortgage Note for the related Companion Loan;

 

(2)       a
copy of the related loan agreement, if any;

 

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(3)       a
copy of the Mortgage;

 

(4)       a
copy of the lock box agreement or cash management agreement relating to such Mortgage Loan or Serviced Whole Loan, if any;

 

(5)       any
pre-funding insurance review documentation and insurance certificates (for insurance policies other than title insurance policy
and environmental policy) or a marked up commitment therefor;

 

(6)       a
copy of any related title insurance policy or a marked up commitment therefor;

 

(7)       a
copy of any environmental insurance policy or a marked up commitment therefor;

 

(8)       legal
description of the related Mortgaged Property;

 

(9)       a
copy of the related escrow agreement and the related security agreement (in each case, if such item is a document separate from
the loan agreement and the Mortgage);

 

(10)     a
copy of the agreement governing post-closing obligations (if such item is a document separate from the loan agreement and the
Mortgage), if any;

 

(11)     a
copy of the closing statement and/or sources and uses statement;

 

(12)     the
Mortgage Loan Seller’s asset summary, if any (provided that the delivery of such item shall not result in any liability
to the Mortgage Loan Seller);

 

(13)     the
related Mortgagor tax ID;

 

(14)     a
PIP Schedule (if such item is a document separate from the loan agreement and the Mortgage), if any;

 

(15)     a
copy of an approved operating budget, if applicable;

 

(16)     a
copy of the related Ground Lease relating to such Mortgage Loan, if any; and

 

(17)     in
the case of a Serviced Whole Loan, a copy of the related Co-Lender Agreement.

 

“Determination
Date”: With respect to any Distribution Date, the sixth (6th) day of each month (or, if the sixth (6th) calendar day
of that month is not a Business Day, then the next Business Day).

 

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

 

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

 

(i)       (A)
the Mortgage Note, endorsed on its face or by allonge attached to the Mortgage Note, without recourse, to the order of the Trustee
or in blank, and further showing a complete, unbroken chain of endorsement from the originator (if such originator is not the
Mortgage Loan Seller) (or, alternatively, if the original executed Mortgage Note has been lost, a lost note affidavit and indemnity
from the Mortgage Loan Seller or another prior holder with a copy of such Mortgage Note), and (B) if such Mortgage Loan is part
of a Serviced Whole Loan, the executed Mortgage Note for each related Serviced Companion Loan;

 

(ii)      the
Mortgage, together with any and all intervening assignments thereof, in each case (unless the particular item has not been returned
from the applicable recording office) with evidence of recording indicated thereon or certified by the applicable recorder’s
office (if in the possession of the Mortgage Loan Seller);

 

(iii)     any
related Assignment of Leases (if such item is a document separate from the Mortgage), together with any and all intervening assignments
thereof, in each case (unless the particular item has not been returned from the applicable recording office) with evidence of
recording indicated thereon or certified by the applicable recorder’s office (if in the possession of the Mortgage Loan
Seller);

 

(iv)     final
written modification agreements in those instances where the terms or provisions of the Mortgage Note for such Mortgage Loan (or,
if applicable, any Mortgage Note of a related Serviced Companion Loan) or the related Mortgage have been modified, in each case
(unless the particular item has not been returned from the applicable recording office) with evidence of recording indicated thereon
if the instrument being modified is a recordable document;

 

(v)      the
policy or certificate of lender’s title insurance issued in connection with such Mortgage Loan (or the related Serviced
Whole Loan, if applicable) or, if such policy has not been issued or located, an irrevocable, binding commitment (which may be
a “marked-up” pro forma title policy marked as binding and executed by an authorized representative of the title insurer
or an agreement to provide the same pursuant to binding escrow instructions executed by an authorized representative of the title
insurer) to issue such title insurance policy;

 

(vi)     the
Ground Lease relating to such Mortgage Loan (or the related Serviced Whole Loan, if applicable), if any, and any ground lessor
estoppel;

 

(vii)   the
related loan agreement, if any;

 

(viii)  the
guaranty under such Mortgage Loan or the related Serviced Whole Loan, if any;

 

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(ix)     the
lock box agreement or cash management agreement relating to such Mortgage Loan or the related Serviced Whole Loan, if any;

 

(x)      the
environmental indemnity from the related Mortgagor, if any;

 

(xi)     the
related escrow agreement and the related security agreement (in each case, if such item is a document separate from the Mortgage)
and, if applicable, any intervening assignments thereof;

 

(xii)    any
filed copies (bearing evidence of filing) or evidence of filing of any UCC financing statements in favor of the originator of
such Mortgage Loan (or the related Serviced Whole Loan, if applicable) or in favor of any assignee prior to the Trustee and UCC-3
assignment financing statements in favor of the Trustee (or, in each case, a copy thereof certified to be the copy of such assignment
submitted or to be submitted for filing), if in the possession of the Mortgage Loan Seller;

 

(xiii)   in the case of any Mortgage Loan or the related Serviced Whole Loan as to which there exists a related mezzanine loan, the related
intercreditor agreement;

 

(xiv)   any
related environmental insurance policy;

 

(xv)    any
letter of credit relating to such Mortgage Loan or the related Serviced Whole Loan and any related assignment thereof;

 

(xvi)   any
related franchise agreement, property management agreement or hotel management agreement and related comfort letters (together
with (i) copies of any notices of transfer that are necessary to transfer or assign to the Trust or the Trustee the benefits of
such comfort letter or (ii) if the related comfort letter contemplates that a request be made of the related franchisor to issue
a replacement comfort letter for the benefit of the Trust or Trustee, a copy of the notice requesting the issuance of such replacement
comfort letter) and/or estoppel letters relating to such Mortgage Loan or the related Serviced Whole Loan and any related assignment
thereof; and

 

(xvii)  in
the case of a Mortgage Loan that is part of a Whole Loan, the related Co-Lender Agreement;

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(k)      a
copy of all zoning reports;

 

(l)       a
copy of financial statements of the related Mortgagor;

 

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

 

(n)      a
copy of all UCC searches;

 

(o)      a
copy of all litigation searches;

 

(p)      a
copy of all bankruptcy searches;

 

(q)      a
copy of any origination settlement statement;

 

(r)       a
copy of the insurance summary report;

 

(s)      a
copy of the organizational documents of the related Mortgagor and any guarantor;

 

(t)       a
copy of all escrow statements related to the escrow account balances as of the Mortgage Loan origination date, if not included
in the origination settlement statement;

 

(u)      the
original or a copy of all related environmental reports that were received by the Mortgage Loan Seller;

 

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(v)      unless
already included as part of the environmental reports, a copy of any closure letter (environmental); and

 

(w)      unless
already included as part of the environmental reports, a copy of any environmental remediation agreement for the related Mortgaged
Property or Mortgaged Properties,

 

in
each case, to the extent that the Mortgage Loan Seller received such documents or information in connection with the origination
of such Mortgage Loan. In the event any of the items identified above were not received in connection with the origination of
such Mortgage Loan (other than documents that would not be included in connection with the origination of the Mortgage Loan because
such document is inapplicable to the origination of a Mortgage Loan of that structure or type, taking into account whether or
not such Mortgage Loan has any additional debt), the Diligence File shall include a statement to that effect. No information that
is proprietary to the Mortgage Loan Seller or any draft documents, privileged or internal communications, credit underwriting
or due diligence analysis shall constitute part of the Diligence File. It is not required to include any of the same items identified
above again if such items have already been included under another clause of the definition of Diligence File, and the Diligence
File shall include a statement to that effect. The Mortgage Loan Seller may, without any obligation to do so, include such other
documents or information as part of the Diligence File that the Mortgage Loan Seller believes should be included to enable the
Asset Representations Reviewer to perform the Asset Review on such Mortgage Loan; provided that such documents or information
are clearly labeled and identified.

 

“Directing
Holder”: means:

 

(a)       with
respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan, the AMA Plaza Mortgage Loan or the 225 Bush Street Mortgage
Loan) or Serviced Whole Loan (other than the AMA Plaza Whole Loan or the 225 Bush Street Whole Loan), the Controlling Class Representative;

 

(b)       with
respect to the AMA Plaza Whole Loan, (i) for so long as no AMA Plaza Trust Subordinate Companion Loan Control Termination Event
exists, the related Loan-Specific Directing Holder and (ii) for so long as an AMA Plaza Trust Subordinate Companion Loan Control
Termination Event exists, the Controlling Class Representative; and

 

(c)       with
respect to the 225 Bush Street Whole Loan, (i) for so long as no 225 Bush Street Trust Subordinate Companion Loan Control Termination
Event exists, the related Loan-Specific Directing Holder and (ii) for so long as a 225 Bush Street Trust Subordinate Companion
Loan Control Termination Event exists, the Controlling Class Representative.

 

For
the avoidance of doubt, notwithstanding anything to the contrary contained in this Agreement, a Control Termination Event or a
Consultation Termination Event shall not affect the rights of a non-Directing Holder. Whenever the term “Directing Holder”
is used in

 

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this Agreement without further clarification, the parties hereto intend for such reference to mean the applicable Directing
Holder under the circumstances.

 

“Directly
Operate”: With respect to any REO Property (except with respect to a Non-Serviced Mortgaged Property), the furnishing
or rendering of services to the tenants thereof, that are not customarily provided to tenants in connection with the rental of
space “for occupancy only” within the meaning of Treasury Regulations Section 1.512(b)-1(c)(5), the management or
operation of such REO Property, the holding of such REO Property primarily for sale to customers, the use of such REO Property
in a trade or business conducted by the Trust or on behalf of a Companion Holder or the performance of any construction work on
the REO Property, other than through an Independent Contractor; provided, however, that an REO Property shall not
be considered to be Directly Operated solely because the Trustee (or the applicable Special Servicer on behalf of the Trustee)
establishes rental terms, chooses tenants, enters into or renews leases, deals with taxes and insurance or makes decisions as
to repairs or capital expenditures with respect to such REO Property or takes other actions consistent with Treasury Regulations
Section 1.856-4(b)(5)(ii).

 

“Disclosable
Special Servicer Fees”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced Whole
Loan or REO Property (other than any interest in REO Property acquired with respect to any Non-Serviced Mortgage Loan), any compensation
and other remuneration (including, without limitation, in the form of commissions, brokerage fees, and rebates) received or retained
by the applicable Special Servicer or any of its Affiliates that is paid by any Person (including, without limitation, the Trust,
any Mortgagor, any property manager, any guarantor or indemnitor in respect of the related Mortgage Loan or Serviced Whole Loan
and any purchaser of the related Mortgage Loan, Serviced Whole Loan or REO Property) in connection with the disposition, workout
or foreclosure of the related Mortgage Loan (or Serviced Whole Loan, if applicable), the management or disposition of the related
REO Property, and the performance by the applicable Special Servicer or any such Affiliate of any other special servicing duties
under this Agreement, other than (1) any compensation which is payable to the applicable Special Servicer under this Agreement
or (2) to the extent included in a CREFC® Report for the applicable period, any Permitted Special Servicer/Affiliate Fees.

 

“Disclosure
Parties”: As defined in Section 3.13(f).

 

“Dispute
Resolution Consultation”: As defined in Section 2.03(j)(iii).

 

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

 

“Disqualified
Non-U.S. Tax Person”: With respect to the Class R Certificates, any Non-U.S. Tax Person or its agent other than (a)
a Non-U.S. Tax Person that holds the Class R Certificates in connection with the conduct of a trade or business within the United
States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI or (b) a Non-U.S. Tax
Person that has delivered to both the transferor and the Certificate Administrator an opinion of a nationally recognized tax counsel
to the effect that the transfer of the Class R Certificates to it is in accordance with the requirements of the Code and the

 

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regulations
promulgated thereunder and that such transfer of the Class R Certificates will not be disregarded for federal income tax purposes.

 

“Disqualified
Organization”: Any of (i) the United States, any State or political subdivision thereof, any possession of the United
States or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of
its activities are subject to tax and, except for Freddie Mac, a majority of its board of directors is not selected by such governmental
unit), (ii) a foreign government, any international organization or any agency or instrumentality of any of the foregoing, (iii)
any organization which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the
Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect
to the Class R Certificates (except certain farmers’ cooperatives described in Section 521 of the Code), (iv) rural electric
and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, (v) an “electing large partnership,” as
defined in Section 775 of the Code and (vi) any other Person so designated by the Trustee or the Certificate Administrator based
upon an Opinion of Counsel as provided to the Trustee or the Certificate Administrator (at no expense to the Trustee or the Certificate
Administrator) that the holding of an Ownership Interest in a Class R Certificate by such Person may cause any Trust REMIC to
fail to qualify as a REMIC at any time that the Certificates are outstanding or any Person having an Ownership Interest in any
Class of Certificates (other than such Person) to incur a liability for any federal tax imposed under the Code that would not
otherwise be imposed but for the Transfer of an Ownership Interest in a Class R Certificate to such Person. The terms “United
States,” “State” and “international organization” shall have the meanings set forth in Section 7701
of the Code or successor provisions.

 

“Distribution
Accounts”: Collectively, the Upper-Tier REMIC Distribution Account, the Class PEZ Distribution Account, the Trust Subordinate
Companion Loan REMIC Distribution Accounts, the Excess Interest Distribution Account and the Lower-Tier REMIC Distribution Account
(and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

 

“Distribution
Date”: The fourth (4th) Business Day following each Determination Date, beginning in December 2016. The initial
Distribution Date shall be December 12, 2016.

 

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

 

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

 

“Do
Not Hire List”: The list, as may be updated at any time, provided by the Depositor to the Master Servicer, the Special
Servicers, the Certificate Administrator, the Trustee, the Operating Advisor or the Asset Representations Reviewer, which lists
certain parties identified by the Depositor as having failed to comply (after any applicable cure period) with their respective
obligations under Article XI of this Agreement or as having failed to comply (after any applicable cure period) with any
similar Regulation AB reporting requirements under any other securitization transaction. For the avoidance of doubt, as of the
Closing Date, no parties appear on the Do Not Hire List.

 

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“DTC”:
The Depository Trust Company, a New York corporation.

 

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

Whole Loan, as applicable, had been scheduled to be first due, and (iii) any REO Loan, the day of the month set forth in the related
Mortgage Note on which each Periodic Payment on the related Mortgage Loan or Whole Loan, as applicable, had been scheduled to
be first due.

 

“EDGAR”:
As defined in Section 11.03.

 

“EDGAR-Compatible
Format”: Any format compatible with EDGAR, including HTML, Word or clean, searchable PDFs.

 

“Eligible
Account”: Any of the following: (i) a segregated account or accounts maintained with a federal or state chartered depository
institution or trust company (including the Trustee or the Certificate Administrator), (A) the long-term unsecured debt obligations
of which are rated at least “Aa3” by Moody’s, if the deposits are to be held in such account for thirty (30)
days or more, and the short-term debt obligations of which have a short-term rating of not less than “P-1” from Moody’s,
if the deposits are to be held in such account for less than thirty (30) days, (B) the long-term unsecured debt obligations of
which are rated at least “A+” by Fitch, if the deposits are to be held in such account for thirty (30) days or more,
and the short-term debt obligations of which have a short-term rating of not less than “F1” from Fitch, if the deposits
are to be held in such account for less than thirty (30) days and (C) the long-term unsecured debt obligations of which are rated
at least “BBB+” by S&P, if the deposits are to be held in such account for thirty (30) days or more, and the short-term
debt obligations of which are rated at least “A-1” (or “A-2” by S&P so long as the long-term unsecured
debt obligations of such depository institution or trust company are rated no less than “BBB” by S&P) by S&P,
if the deposits are to be held in such account for less than thirty (30) days; (ii) an account or accounts maintained with Wells
Fargo Bank, National Association or PNC Bank, National Association so long as Wells Fargo Bank, National Association’s or
PNC Bank, National Association’s, as applicable, long-term unsecured debt or deposit rating shall be at least “BBB+”
by S&P, “A2” by Moody’s and “A” by Fitch (if the deposits are to be held in the account for
more than 30 days) or Wells Fargo Bank, National Association’s or PNC Bank, National Association’s, as applicable,
short-term deposit or short-term unsecured debt rating shall be at least “A-1” by S&P (or “A-2” by
S&P so long as the long-term unsecured debt obligations of such depository institution or trust company are rated no less
than “BBB” by S&P), “P-1” by Moody’s and “F2” by Fitch (if the deposits are to be
held in the account for 30 days or less); (iii) such other account or accounts that, but for the failure to satisfy one or more
of the minimum rating(s) set forth in the applicable clause, would be listed in clauses (i) – (ii) above, with respect to
which a Rating Agency Confirmation has been obtained from each Rating Agency for which the minimum ratings set forth in the applicable
clause is not satisfied with respect to such account, which account may be an account maintained by or with the Certificate Administrator,
the Trustee, the Master Servicer or any Special Servicer; (iv) any other account or accounts not listed in clauses (i) –
(ii) above with respect to which a Rating Agency Confirmation has been obtained from each

 

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and every Rating Agency and a confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25), which account may be an account maintained by or with the Certificate Administrator, the Trustee, the
Master Servicer or any Special Servicer; or (v) a segregated trust account or accounts maintained with the corporate trust department
of a federal or state chartered depository institution or trust company that has a long-term unsecured debt rating of at least
“A2” from Moody’s (if the deposits are to be held in the account for more than thirty (30) days) or a short-term
unsecured debt rating of at least “P-1” from Moody’s (if the deposits are to be held in the account for thirty
(30) days or less) and that, in either case, has corporate trust powers, acting in its fiduciary capacity, provided that any state
chartered depository institution or trust company is subject to regulation regarding fiduciary funds substantially similar to
12 C.F.R. § 9.10(b). Eligible Accounts may bear interest. No Eligible Account shall be evidenced by a certificate of deposit,
passbook or other similar instrument.

 

“Eligible
Asset Representations Reviewer”: An institution that (a) is the special servicer, operating advisor or asset representations
reviewer on a transaction rated by any of DBRS, Fitch, KBRA, Moody’s, Morningstar Credit Ratings, LLC or S&P and that
has not been a special servicer, operating advisor or asset representations reviewer on a transaction for which any of DBRS, Fitch,
KBRA, Moody’s, Morningstar Credit Ratings, LLC or S&P has qualified, downgraded or withdrawn its rating or ratings of,
one or more classes of certificates for such transaction citing servicing or other relevant concerns with such special servicer,
operating advisor or asset representations reviewer as the sole or material factor in such rating action, (b) can and will make
the representations and warranties set forth in Section 6.01(d), (c) is not (and is not affiliated with) a Mortgage Loan
Seller, Master Servicer, any Special Servicer, the Depositor, the Certificate Administrator, the Trustee, the Controlling Class
Representative, the Directing Holder or any of their respective Affiliates, (d) has not performed (and is not affiliated with
any party hired to perform) any due diligence, loan underwriting, brokerage, borrower advisory or similar services with respect
to any Mortgage Loan or any related Companion Loan prior to the Closing Date for or on behalf of the Mortgage Loan Seller, any
Underwriter, any party to this Agreement, the Controlling Class Representative or the Directing Holder or any of their respective
Affiliates, or have been paid any fees, compensation or other remuneration by any of them in connection with any such services,
and (e) that does not directly or indirectly, through one or more Affiliates or otherwise, own any interest in any Certificates,
any Mortgage Loans, any Companion Loan or any securities backed by a Companion Loan or otherwise have any financial interest in
the securitization transaction to which this Agreement relates, other than in fees from its role as Asset Representations Reviewer
(or as Operating Advisor, if applicable).

 

“Eligible
Operating Advisor”: An institution (a) that is a special servicer or operating advisor on a commercial mortgage-backed
securities transaction rated by the Rating Agencies (including, in the case of the Operating Advisor, this transaction) but has
not been special servicer or operating advisor on a transaction for which any Rating Agency has qualified, downgraded or withdrawn
its rating or ratings of, one or more classes of certificates for such transaction citing servicing concerns with the special
servicer or operating advisor as the sole or a material factor in such rating action; (b) that can and will make the representations
and

 

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warranties of the Operating Advisor set forth in Section 6.01(c) of this Agreement; (c) that is not (and is not affiliated
with) the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicers, a Mortgage Loan Seller,
the Controlling Class Representative, the Directing Holder, a depositor, a trustee, a certificate administrator, a master servicer
or special servicer with respect to the securitization of a Companion Loan, or any of their respective affiliates; (d) that has
not been paid by any Special Servicer or successor special servicer any fees, compensation or other remuneration (x) in respect
of its obligations hereunder or (y) for the appointment or recommendation for replacement of a successor special servicer to become
a special servicer under this Agreement; and (e) that (x) has been regularly engaged in the business of analyzing and advising
clients in commercial mortgage-backed securities matters and have at least five (5) years of experience in collateral analysis
and loss projections and (y) has at least five (5) years of experience in commercial real estate asset management and experience
in the workout and management of distressed commercial real estate assets.

 

“Embassy
Suites Portland Airport Co-Lender Agreement”: That certain Co-Lender Agreement, dated as of September 1, 2016, by and
between the holder of the Embassy Suites Portland Airport Pari Passu Companion Loan and the holder of the Embassy Suites Portland
Airport Mortgage Loan, relating to the relative rights of such holders of the Embassy Suites Portland Airport Whole Loan, as the
same may be further amended in accordance with the terms thereof.

 

“Embassy
Suites Portland Airport Mortgage Loan”: With respect to the Embassy Suites Portland Airport Whole Loan, the Mortgage
Loan that is included in the Trust (identified as Mortgage Loan No. 13 on the Mortgage Loan Schedule), which is designated as
promissory note A-2, and is pari passu in right of payment with the Embassy Suites Portland Airport Pari Passu Companion
Loan to the extent set forth in the related Co-Lender Agreement.

 

“Embassy
Suites Portland Airport Mortgaged Property”: The Mortgaged Property which secures the Embassy Suites Portland Airport
Whole Loan.

 

“Embassy
Suites Portland Airport Pari Passu Companion Loan”: With respect to the Embassy Suites Portland Airport Whole Loan,
the Companion Loan evidenced by the related promissory note made by the related Mortgagor and secured by the Mortgage on the Embassy
Suites Portland Airport Mortgaged Property, which is not included in the Trust and which is pari passu in right of payment
to the Embassy Suites Portland Airport Mortgage Loan to the extent set forth in the related Mortgage Loan documents and as provided
in the Embassy Suites Portland Airport Co-Lender Agreement.

 

“Embassy
Suites Portland Airport Whole Loan”: The Embassy Suites Portland Airport Mortgage Loan, together with the Embassy Suites
Portland Airport Pari Passu Companion Loan, each of which is secured by the same Mortgage on the Embassy Suites Portland Airport
Mortgaged Property. References herein to the Embassy Suites Portland Airport Whole Loan shall be construed to refer to the aggregate
indebtedness under the Embassy Suites Portland Airport Mortgage Loan and the Embassy Suites Portland Airport Pari Passu Companion
Loan.

 

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

 

“Enforcing
Servicer”: (a) With respect to a Specially Serviced Mortgage Loan, the applicable Special Servicer, and (b) with respect
to a Non-Specially Serviced Mortgage Loan, (i) in the case of a Repurchase Request made by the applicable Special Servicer, the
Controlling Class Representative or a Controlling Class Certificateholder, the Master Servicer, and (ii) in the case of a Repurchase
Request made by any Person other than the applicable Special Servicer, the Controlling Class Representative or a Controlling Class
Certificateholder, (A) prior to a Resolution Failure relating to such Non-Specially Serviced Mortgage Loan, the Master Servicer,
and (B) from and after a Resolution Failure relating to such Non-Specially Serviced Mortgage Loan, the applicable Special Servicer.

 

“Environmental
Assessment”: An “environmental site assessment” as such term is defined in, and meeting the criteria of,
the American Society of Testing Materials Standard Section E 1527-00, or any successor thereto.

 

“Environmental
Indemnity Agreement”: With respect to any Mortgage Loan or Trust Subordinate Companion Loan, any agreement between the
Mortgagor (or a guarantor thereof) and the originator of such Mortgage Loan or Trust Subordinate Companion Loan relating to the
Mortgagor’s obligation to remediate or monitor or indemnify for any environmental problems relating to the related Mortgaged
Property.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA
Restricted Certificate”: Any Certificate (other than a Class R or Class S Certificate) that does not meet the requirements
of Prohibited Transaction Exemption 2013-08 (as such exemption may be amended from time to time) as of the date of the acquisition
of such Certificate by a Plan. As of the Closing Date, each of the Class E, Class F, Class G, Class X-225, Class 225-D, Class
225-E, Class X-AMA and Class AMA-D Certificates is an ERISA Restricted Certificate.

 

“Escrow
Payment”: Any payment received by the Master Servicer or the applicable Special Servicer for the account of any Mortgagor
for application toward the payment of real estate taxes, assessments, insurance premiums, ground lease rents and similar items
in respect of the related Mortgaged Property, including amounts for deposit to any reserve account.

 

“Euroclear”:
The Euroclear System or any successor thereto.

 

“Excess
Interest”: With respect to the ARD Loan, the interest accrued at the Revised Rate in respect of such ARD Loan in excess
of the interest accrued at the Initial Rate, plus any related interest accrued on such amounts, to the extent permitted
by applicable law and the related Mortgage Loan documents.

 

“Excess
Interest Distribution Account”: The trust account or subaccount created and maintained by the Certificate Administrator
pursuant to Section 3.04(b) of this Agreement in trust for the Holders of the Class S Certificates, which (subject to any
changes in the identities of

 

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the Certificate Administrator and/or the Trustee) shall be entitled “Wells Fargo Bank, National
Association, as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, and the registered
Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Excess Interest
Distribution Account”. Any such account shall be an Eligible Account. The Excess Interest Distribution Account shall be
held solely for the benefit of the Holders of the Class S Certificates. The Excess Interest Distribution Account shall not be
an asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

 

“Excess
Modification Fee Amount”: With respect to either the Master Servicer or the applicable Special Servicer, any Corrected
Loan and any particular modification, waiver, extension or amendment with respect to such Corrected Loan that gives rise to the
payment of a Workout Fee, an amount equal to the aggregate of any Excess Modification Fees paid by or on behalf of the related
Mortgagor with respect to the related Mortgage Loan (including the related Serviced Companion Loan or Subordinate Companion Loan,
if applicable, unless prohibited under the related Co-Lender Agreement) and received and retained by the Master Servicer or such
Special Servicer, as applicable, as compensation within the prior (18) months of such modification, waiver, extension or amendment,
but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee.

 

“Excess
Modification Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Whole
Loan, the sum of (A) the excess of (i) any and all Modification Fees with respect to a modification, waiver, extension or amendment
of any of the terms of such Mortgage Loan or Serviced Whole Loan, over (ii) all unpaid or unreimbursed Advances and additional
expenses (including, without limitation, interest on Advances to the extent not otherwise paid or reimbursed by or on behalf of
the Mortgagor (including indirect reimbursement from Penalty Charges or otherwise) with respect to such Mortgage Loan (or Serviced
Whole Loan, if applicable), but excluding (1) Special Servicing Fees, Workout Fees and Liquidation Fees and (2) Borrower Delayed
Reimbursements) outstanding or previously incurred on behalf of the Trust with respect to the related Mortgage Loan (or Serviced
Whole Loan, if applicable) and reimbursed from such Modification Fees (which additional expenses will be reimbursed from such
Modification Fees) and (B) expenses previously paid or reimbursed from Modification Fees as described in the preceding clause
(A), which expenses have been recovered from the related Mortgagor as Penalty Charges, specific reimbursements or otherwise. All
Excess Modification Fees earned by the applicable Special Servicer will be required to offset any future Workout Fees or Liquidation
Fees payable with respect to the related Mortgage Loan (or Whole Loan) or REO Property; provided that if the related Mortgage
Loan (or Serviced Whole Loan) ceases being a Corrected Loan, and is subject to a subsequent modification, any Excess Modification
Fees earned by the applicable Special Servicer prior to such Mortgage Loan (or Serviced Whole Loan) ceasing to be a Corrected
Loan will no longer be offset against future Liquidation Fees and Workout Fees unless such Mortgage Loan (or Serviced Whole Loan)
ceased to be a Corrected Loan within 18 months of it becoming a modified Mortgage Loan (or Serviced Whole Loan). If such Mortgage
Loan (or Serviced Whole Loan) ceases to be a Corrected Loan, the applicable Special Servicer will be entitled to a Liquidation
Fee or Workout Fee (to the extent not previously offset) with respect to the new modification, waiver, extension or amendment
or future liquidation of the Specially Serviced Mortgage Loan or related REO Property (including in connection with a repurchase,
sale,

 

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refinance, discounted or final payoff or other liquidation); provided that any Excess Modification Fees earned and paid
to the applicable Special Servicer in connection with such subsequent modification, waiver, extension or amendment will be applied
to offset such Liquidation Fee or Workout Fee to the extent described above. Within any prior 12-month period, all Excess Modification
Fees earned by the Master Servicer or the applicable Special Servicer (after taking into account any offset described above applied
during such prior 12-month period) with respect to any Mortgage Loan (or Serviced Whole Loan, if applicable) will be subject to
a cap equal to the greater of (i) 1% of the outstanding principal balance of such Mortgage Loan (or Serviced Whole Loan, if applicable)
after giving effect to such transaction, and (ii) $25,000.

 

“Excess
Prepayment Interest Shortfall”: With respect to any Distribution Date, (i) with respect to the Mortgage Loans, the aggregate
of any Prepayment Interest Shortfalls resulting from any principal prepayments made on the Mortgage Loans to be included in the
Pooled Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensating Interest Payment
for such Distribution Date and the portion of the compensating interest payments allocable to any Non-Serviced Mortgage Loan to
the extent received from the related Non-Serviced Master Servicer, (ii) with respect to the AMA Plaza Trust Subordinate Companion
Loan, the aggregate of any Prepayment Interest Shortfalls resulting from any principal prepayments made on the AMA Plaza Trust
Subordinate Companion Loan to be included in the AMA Plaza Available Funds for such Distribution Date that are not covered by
the Master Servicer’s Compensation Interest Payment for such Distribution Date, and (iii) with respect to the 225 Bush Street
Trust Subordinate Companion Loan, the aggregate of any Prepayment Interest Shortfalls resulting from any principal prepayments
made on the 225 Bush Street Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensation
Interest Payment for such Distribution Date.

 

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

 

“Exchange
Date”: As defined in Section 5.09(b).

 

“Exchangeable
Certificate”: Any of the Class A-S, Class B, Class C or Class PEZ Certificates.

 

“Exchangeable
Proportion”: Following the Closing Date, the aggregate Class A-S, Class B and Class C Certificates that collectively
evidence a uniform Tranche Percentage Interest in each Class PEZ Component.

 

“Excluded
Controlling Class Holder”: With respect to any Excluded Controlling Class Loan and/or Excluded Loan, the Controlling
Class Representative, any Controlling Class Certificateholder, the AMA Plaza Controlling Class Representative, any AMA Plaza Controlling
Class Certificateholder, the 225 Bush Street Controlling Class Representative or any 225 Bush Street Controlling Class Certificateholder,
as applicable, that is a Borrower Party with respect to such Excluded Controlling Class Loan and/or Excluded Loan. Immediately
upon obtaining actual knowledge of the Controlling Class Representative, any Controlling Class Certificateholder, the AMA Plaza
Controlling Class Representative, any AMA Plaza Controlling Class Certificateholder, the 225 Bush Street Controlling Class Representative
or any 225 Bush

 

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Street Controlling Class Certificateholder, becoming an “Excluded Controlling Class Holder”, such
Controlling Class Representative, Controlling Class Certificateholder, the AMA Plaza Controlling Class Representative, any AMA
Plaza Controlling Class Certificateholder, the 225 Bush Street Controlling Class Representative or 225 Bush Street Controlling
Class Certificateholder, as applicable, shall provide notice in the form of Exhibit P-1E hereto to the Master Servicer,
the applicable Special Servicer, the Operating Advisor, the Trustee and the Certificate Administrator, which notice shall be physically
delivered in accordance with Section 13.05 of this Agreement and shall specifically identify the Excluded Controlling Class
Holder and identifying the related Mortgage Loan, specifying whether it is (A) an Excluded Controlling Class Loan or (B) both
an Excluded Loan and an Excluded Controlling Class Loan. Additionally, any Excluded Controlling Class Holder shall also send to
the Certificate Administrator a notice substantially in the form of Exhibit P-1F hereto, which notice shall provide each
of the CTSLink User ID associated with such Excluded Controlling Class Holder, and which notice shall direct the Certificate Administrator
to restrict such Excluded Controlling Class Holder’s access to the Certificate Administrator’s Website as and to the
extent provided in this Agreement. As of the Closing Date, there are no Excluded Controlling Class Holders related to the Trust.

 

“Excluded
Controlling Class Loan”: Any Mortgage Loan or Whole Loan with respect to which, as of any date of determination, the
Controlling Class Representative or any Controlling Class Certificateholder (or, with respect to the AMA Plaza Whole Loan and
the 225 Bush Street Whole Loan prior to the continuation of a related Trust Subordinate Companion Loan Control Termination Event,
the AMA Plaza Controlling Class Representative or any AMA Plaza Controlling Class Certificateholder or the 225 Bush Street Controlling
Class Representative or any 225 Bush Street Controlling Class Certificateholder, as applicable) is a Borrower Party. As of the
Closing Date, there are no Excluded Controlling Class Loans related to the Trust.

 

“Excluded
Information”: With respect to any Excluded Controlling Class Loan, any information solely related to such Excluded Controlling
Class Loan and/or the related Mortgaged Properties, which shall include the Asset Status Reports, Final Asset Status Reports (or
summaries thereof), any Operating Advisor reports delivered to the Certificate Administrator regarding a Special Servicer’s
net present value determination, any Appraisal Reduction Amount calculations delivered pursuant to Section 3.26(d) and
Section 3.26(e), and any Officer’s Certificates delivered by the Master Servicer or the applicable Special Servicer,
supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance, or such other information
and reports designated as Excluded Information by the applicable Special Servicer, the Master Servicer or the Operating Advisor,
as applicable, other than such information with respect to such Excluded Controlling Class Loan(s) that is aggregated with information
of other Mortgage Loans at a pool level and other than CREFC® Reports (other than the CREFC® Special
Servicer Loan File for the related Excluded Controlling Class Loan). For the avoidance of doubt, any file or report contained
in the CREFC® Investor Reporting Package (CREFC® IRP) (other than the CREFC® Special
Servicer Loan File relating to any Excluded Controlling Class Loan) shall not be considered “Excluded Information”.
Each of the Master Servicer, the Special Servicers or the Operating Advisor shall deliver any Excluded Information that is to
be posted to the Certificate Administrator’s Website to the Certificate Administrator in accordance with Section 3.30(a)
hereof. For the avoidance of doubt, the Certificate

 

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Administrator’s obligation to segregate any information delivered
to it under the “Excluded Information” tab on the Certificate Administrator’s Website shall be triggered solely
by such information being delivered in the manner provided in Section 3.30(a) hereof.

 

“Excluded
Loan”: Any Mortgage Loan or Whole Loan if, as of any date of determination, the Controlling Class Representative or
the Holder of the majority of the Controlling Class (by Certificate Balance ) (or, with respect to the AMA Plaza Whole Loan, prior
to the continuation of an AMA Plaza Trust Subordinate Companion Loan Control Termination Event, the AMA Plaza Controlling Class
Representative or the holder of the majority of the AMA Plaza Controlling Class Certificates (by Certificate Balance) or, with
respect to the 225 Bush Street Whole Loan, prior to the continuation of a 225 Bush Street Trust Subordinate Companion Loan Control
Termination Event, the 225 Bush Street Controlling Class Representative or the holder of the majority of the 225 Bush Street Controlling
Class Certificates (by Certificate Balance)) is a Borrower Party. For the avoidance of doubt, any Excluded Loan is also an Excluded
Controlling Class Loan. As of the Closing Date, there are no Excluded Loans related to the Trust.

 

“Excluded
Special Servicer”: With respect any Excluded Special Servicer Loan, a replacement special servicer that is not a Borrower
Party and satisfies all of the eligibility requirements applicable to the applicable Special Servicer set forth in Section
7.01(g). As of the Closing Date, there are no Excluded Special Servicers related to the Trust.

 

“Excluded
Special Servicer Information”: With respect to any Excluded Special Servicer Loan, any information solely related to
such Excluded Special Servicer Loan and/or the related Mortgaged Properties, which shall include the Asset Status Reports, Final
Asset Status Reports (or summaries thereof), any Operating Advisor reports delivered to the Certificate Administrator regarding
an Excluded Special Servicer’s net present value determination, any Appraisal Reduction Amount calculations delivered pursuant
to Section 3.26(d) and Section 3.26(e), and any Officer’s Certificates delivered by the Master Servicer or
the applicable Excluded Special Servicer supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable
Advance, or such other information and reports designated as Excluded Special Servicer Information by the applicable Excluded
Special Servicer, the Master Servicer or the Operating Advisor, as applicable, other than such information with respect to such
Excluded Special Servicer Loan(s) that is aggregated with information of other Mortgage Loans at a pool level. For the avoidance
of doubt, any file or report contained in the CREFC® Investor Reporting Package (CREFC® IRP) (other
than the CREFC® Special Servicer Loan File relating to any Excluded Special Servicer Loan) shall not be considered
“Excluded Special Servicer Information”.

 

“Excluded
Special Servicer Loan”: Any Mortgage Loan or Serviced Whole Loan with respect to which, as of any date of determination,
the applicable Special Servicer has obtained knowledge that it is a Borrower Party. As of the Closing Date, there are no Excluded
Special Servicer Loans related to the Trust.

 

“Extended
Cure Period”: As defined in Section 2.03(b).

 

“Fannie
Mae”: Federal National Mortgage Association or any successor thereto.

 

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

 

“Final
Asset Status Report”: With respect to any Specially Serviced Mortgage Loan, each related Asset Status Report that is
in the process of being implemented by the applicable Special Servicer in accordance with the terms of this Agreement (as determined
by the applicable Special Servicer), together with such other data or supporting information provided by the applicable Special
Servicer to the Directing Holder which does not include any communication (other than the related Asset Status Report) between
the applicable Special Servicer and Directing Holder with respect to such Specially Serviced Mortgage Loan; provided that,
with respect to any Mortgage Loan other than an Excluded Loan, so long as a Control Termination Event has not occurred and is
not continuing, no Asset Status Report shall be considered to be a Final Asset Status Report unless the Directing Holder has either
finally approved of and consented to the actions proposed to be taken in connection therewith, or has exhausted all of its rights
of approval and consent pursuant to Section 3.19, or has been deemed to have approved or consented to such action or the
Asset Status Report is otherwise in the process of being implemented by the applicable Special Servicer in accordance with this
Agreement. In addition, after the occurrence and continuance of a Control Termination Event, no Asset Status Report shall be a
Final Asset Status Report unless and until the Operating Advisor is consulted with or deemed to have been consulted with pursuant
to this Agreement. No such consultation shall be required prior to a Control Termination Event. With respect to the determination
of whether an Asset Status Report is a Final Asset Status Report, the Operating Advisor is entitled to rely solely on the determination
of the applicable Special Servicer, and prior to the occurrence and continuation of a Control Termination Event, the Operating
Advisor shall have no obligation to review any Final Asset Status Report until the applicable Special Servicer has made the determination
that the Asset Status Report is the Final Asset Status Report.

 

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

 

“Final
Recovery Determination”: A reasonable determination by the applicable Special Servicer, in consultation with the Directing
Holder if related to a Mortgage Loan other than an Excluded Loan or a Trust Subordinate Companion Loan and made prior to the occurrence
of a Consultation Termination Event, with respect to any Defaulted Mortgage Loan (and, if applicable, any defaulted Companion
Loan) or Corrected Loan, REO Property or Trust Subordinate Companion Loan (other than a Mortgage Loan or REO Property, as the
case may be, that was purchased by (i) the Mortgage Loan Seller pursuant to Section 6 of the Mortgage Loan Purchase Agreement,
(ii) the applicable Special Servicer or other person pursuant to Section 3.16(b), any Companion Holder or any mezzanine
lender pursuant to Section 3.16 or (iii) the Master Servicer, the applicable Special Servicer, the Holders of the Controlling
Class, or the Holders of the Class R Certificates pursuant to Section 9.01) that there has been a recovery of all Insurance
and Condemnation Proceeds, Liquidation Proceeds, REO Revenue and other payments or recoveries that, in the applicable Special
Servicer’s judgment, which judgment was exercised without regard to any obligation of such Special Servicer to make payments
from its own funds pursuant to Section 3.07(b), will ultimately be recoverable. With respect to all Mortgage Loans other
than the Excluded Loans, prior to the occurrence and continuance of any Control Termination Event, the Directing Holder shall
have ten (10) Business Days to review and approve each such recovery determination by the applicable Special Servicer; provided,

 

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however, that if the Directing Holder fails to approve or disapprove any recovery determination within ten (10) Business
Days of receipt of the initial recovery determination, such consent shall be deemed given.

 

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

 

“Form
8-K Disclosure Information”: As defined in Section 11.07.

 

“Form
15 Suspension Notification”: As defined in Section 11.08.

 

“Freddie
Mac”: Federal Home Loan Mortgage Corporation or any successor thereto.

 

“Gain-on-Sale
Proceeds”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) and Trust Subordinate Companion
Loan, the excess of (i) Liquidation Proceeds net of any related Liquidation Expenses (or the portion of such net Liquidation Proceeds
payable to the related Mortgage Loan or Trust Subordinate Companion Loan pursuant to the related Co-Lender Agreement) over (ii)
the Purchase Price for such Mortgage Loan or Trust Subordinate Companion Loan on the date on which Liquidation Proceeds were received.

 

“Gain-on-Sale
Reserve Account”: A custodial account or accounts (or subaccount of the Distribution Account) created and maintained
by the Certificate Administrator, pursuant to Section 3.04(e) on behalf of the Trustee for the benefit of the Certificateholders,
which shall initially be entitled “Wells Fargo Bank, National Association, as Master Servicer on behalf of Wilmington Trust,
National Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities Corporation II, Commercial
Mortgage Pass-Through Certificates, Series 2016-GS4, Gain-on-Sale Reserve Account”. Any such account shall be an Eligible
Account or a subaccount of an Eligible Account.

 

“General
Special Servicer”: Midland Loan Services, a Division of PNC Bank, National Association, a national banking association,
or its successor in interest, or any successor special servicer appointed as provided herein (including with respect to any Excluded
Special Servicer Loan, if any, the related Excluded Special Servicer appointed pursuant to Section 7.01(g) of this Agreement,
as applicable and as the context may require).

 

“Grace
Period”: The number of days before a payment default is an event of default under the related Mortgage Loan and/or before
the imposition of late payment charges and/or default interest.

 

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“Grantor
Trust”: A segregated asset pool within the Trust Fund treated as a “grantor trust” under subpart E, part
I of subchapter J of the Code, consisting of the assets described in the Preliminary Statement hereto.

 

“Ground
Lease”: The ground lease pursuant to which any Mortgagor holds a leasehold interest in the related Mortgaged Property
and any estoppels or other agreements executed and delivered by the ground lessor in favor of the lender under the Mortgage Loan.

 

“GSMS
2016-GS2 Pooling and Servicing Agreement”: The pooling and servicing agreement, dated as of May 1, 2016, among GS Mortgage
Securities Corporation II, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer,
Torchlight Loan Services, LLC, as general special servicer, Rialto Capital Advisors, LLC, as Veritas Multifamily Pool 2 special
servicer, Wells Fargo Bank, National Association, as certificate administrator, Wells Fargo Bank, National Association, as trustee,
and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, as from time to time amended, supplemented
or modified relating to the issuance of the GS Mortgage Securities Trust 2016-GS2, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS2.

 

“GSMS
2016-GS3 Pooling and Servicing Agreement”: The pooling and servicing agreement, dated as of September 1, 2016, among
GS Mortgage Securities Corporation II, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master
servicer, Rialto Capital Advisors, LLC, as general special servicer, Trimont Real Estate Advisors, LLC, as 540 West Madison special
servicer, Wells Fargo Bank, National Association, as certificate administrator, Wells Fargo Bank, National Association, as trustee,
and Pentalpha Surveillance LLC, as operating advisor and as asset representations reviewer, as from time to time amended, supplemented
or modified relating to the issuance of the GS Mortgage Securities Trust 2016-GS3, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS3.

 

“Hamilton
Place Co-Lender Agreement”: That certain Co-Lender Agreement, dated as of September 1, 2016, by and between the holder
of the Hamilton Place Pari Passu Companion Loan and the holder of the Hamilton Place Mortgage Loan, relating to the relative rights
of such holders of the Hamilton Place Whole Loan, as the same may be further amended in accordance with the terms thereof.

 

“Hamilton
Place Mortgage Loan”: With respect to the Hamilton Place Whole Loan, the Mortgage Loan that is included in the Trust
(identified as Mortgage Loan No. 9 on the Mortgage Loan Schedule), which is designated as promissory note A-2, and is pari
passu in right of payment with the Hamilton Place Pari Passu Companion Loan to the extent set forth in the related Co-Lender
Agreement.

 

“Hamilton
Place Mortgaged Property”: The Mortgaged Property which secures the Hamilton Place Whole Loan.

 

“Hamilton
Place Pari Passu Companion Loan”: With respect to the Hamilton Place Whole Loan, the Companion Loan evidenced by the
related promissory note made by the related Mortgagor and secured by the Mortgage on the Hamilton Place Mortgaged Property, which
is not included in the Trust and which is pari passu in right of payment to the Hamilton

 

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Place Mortgage Loan to the extent
set forth in the related Mortgage Loan documents and as provided in the Hamilton Place Co-Lender Agreement.

 

“Hamilton
Place Whole Loan”: The Hamilton Place Mortgage Loan, together with the Hamilton Place Pari Passu Companion Loan, each
of which is secured by the same Mortgage on the Hamilton Place Mortgaged Property. References herein to the Hamilton Place Whole
Loan shall be construed to refer to the aggregate indebtedness under the Hamilton Place Mortgage Loan and the Hamilton Place Pari
Passu Companion Loan.

 

“Hazardous
Materials”: Any dangerous, toxic or hazardous pollutants, chemicals, wastes or substances, including, without limitation,
those so identified pursuant to CERCLA or any other federal, state or local environmental related laws and regulations, and specifically
including, without limitation, asbestos and asbestos-containing materials, polychlorinated biphenyls, radon gas, petroleum and
petroleum products, urea formaldehyde and any substances classified as being “in inventory,” “usable work in
process” or similar classification which would, if classified as unusable, be included in the foregoing definition.

 

“Independent”:
When used with respect to any accountants, a Person who is “independent” within the meaning of Rule 2-01(b) of the
Commission’s Regulation S-X. When used with respect to any specified Person, any such Person who (i) is in fact independent
of the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, each Special Servicer, the Directing Holder,
the Controlling Class Representative, the Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone
or together with one or more other Mortgage Loans)), the Operating Advisor, the Asset Representations Reviewer and all Affiliates
thereof, (ii) does not have any material direct financial interest in or any material indirect financial interest in any of the
Trustee, the Certificate Administrator, the Depositor, the Master Servicer, each Special Servicer, the Directing Holder, the Controlling
Class Representative, the Companion Holders (insofar as the relevant matter involves a Whole Loan (whether alone or together with
one or more other Mortgage Loans)), the Operating Advisor, the Asset Representations Reviewer or any Affiliate thereof and (iii)
is not connected with the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, each Special Servicer, the
Directing Holder, the Controlling Class Representative, the Companion Holders (insofar as the relevant matter involves a Whole
Loan (whether alone or together with one or more other Mortgage Loans)), the Operating Advisor, the Asset Representations Reviewer
or any Affiliate thereof as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar
functions; provided, however, that a Person shall not fail to be Independent of the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the Special Servicers, the Directing Holder, the Controlling Class Representative, the Companion
Holders or any Affiliate thereof merely because such Person is the beneficial owner of 1% or less of any Class of securities issued
by the Trustee, the Certificate Administrator, the Depositor, the Master Servicer, any Special Servicer, the Operating Advisor,
the Asset Representations Reviewer, the Directing Holder, the Controlling Class Representative, the Companion Holders or any Affiliate
thereof, as the case may be, so long as such ownership constitutes less than 1% of the total assets of such Person. For the avoidance
of doubt, the exception in the proviso above for ownership of 1% or less of any Class of Certificates shall not apply with respect
to the Operating Advisor or the Asset Representations Reviewer.

 

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“Independent
Contractor”: Either (i) any Person that would be an “independent contractor” with respect to the Trust within
the meaning of Section 856(d)(3) of the Code if the Trust were a real estate investment trust (except that the ownership test
set forth in that Section shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any Class
of Certificates, or such other interest in any Class of Certificates as is set forth in an Opinion of Counsel, which shall be
at no expense to the Trustee, the Certificate Administrator, the Master Servicer, any Companion Holder, the Loan-Specific Directing
Holder or the Trust, delivered to the Trustee, any Companion Holder, the Loan-Specific Directing Holder, the Certificate Administrator
and the Master Servicer), so long as the Trust does not receive or derive any income from such Person and provided that
the relationship between such Person and the Trust is at arm’s length, all within the meaning of Treasury Regulations Section
1.856-4(b)(5) (except that the Master Servicer or the Special Servicers shall not be considered to be an Independent Contractor
under the definition in this clause (i) unless an Opinion of Counsel has been delivered to the Trustee and the Certificate
Administrator to that effect) or (ii) any other Person (including the Master Servicer or a Special Servicer) upon receipt by the
Trustee, the Certificate Administrator, the Operating Advisor and the Master Servicer of an Opinion of Counsel, which shall be
at no expense to the Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor or the Trust, to the effect
that the taking of any action in respect of any REO Property by such Person, subject to any conditions therein specified, that
is otherwise herein contemplated to be taken by an Independent Contractor will not cause such REO Property to cease to qualify
as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code or cause any income realized in respect
of such REO Property to fail to qualify as Rents from Real Property.

 

“Initial
Cure Period”: As defined in Section 2.03(b).

 

“Initial
Purchasers”: Goldman, Sachs & Co., Academy Securities, Inc., Drexel Hamilton, LLC and Morgan Stanley & Co. LLC.

 

“Initial
Rate”: With respect to any ARD Loan, the stated Mortgage Rate as set forth in the Mortgage Loan Schedule.

 

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

 

“Initial
Sub-Servicer”: With respect to each Mortgage Loan that is subject to a Sub-Servicing Agreement with the Master Servicer
as of the Closing Date, the Sub-Servicer under any such Sub-Servicing Agreement. As of the Closing Date, each entity listed on
Exhibit FF is an Initial Sub-Servicer.

 

“Initial
Sub-Servicing Agreement”: Any Sub-Servicing Agreement in effect as of the Closing Date.

 

“Inquiry”
and “Inquiries”: As each is defined in Section 4.07(a).

 

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“Institutional
Accredited Investor”: An institutional investor which is an “accredited investor” within the meaning of
paragraphs (1), (2), (3) or (7) of Rule 501(a) of Regulation D under the Act or any entity in which all of the equity owners come
within such paragraphs.

 

“Insurance
and Condemnation Proceeds”: All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation
of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged
Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard
(and (i) in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received
by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth
in the related Co-Lender Agreement and (ii) in the case of the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan, to the
extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such AMA
Plaza Whole Loan or 225 Bush Street Whole Loan, as applicable, and are allocable to the related Mortgage Loan and Trust Subordinate
Companion Loan, as applicable, pursuant to the related Co-Lender Agreement) and the REMIC Provisions.

 

“Insurance
Policy”: With respect to any Mortgage Loan, any hazard insurance policy, flood insurance policy, title policy or other
insurance policy that is maintained from time to time in respect of such Mortgage Loan or the related Mortgaged Property.

 

“Interest
Accrual Amount”: With respect to any Distribution Date and any Class of Regular Certificates, any Class PEZ Regular
Interest and any Class PEZ Components is equal to interest for the related Interest Accrual Period accrued at the Pass-Through
Rate for such Class of Certificates, Class PEZ Regular Interests or Class PEZ Components on the Certificate Balance or Notional
Amount, as applicable, for such Class immediately prior to that Distribution Date. Calculations of interest for each Interest
Accrual Period will be made on 30/360 basis.

 

“Interest
Accrual Period”: For each Distribution Date, the calendar month prior to the month in which that Distribution Date occurs.

 

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

 

For
purposes of clause (B) above, the Excess Prepayment Interest Shortfall, if any, for each Distribution Date shall be allocated
to each Class of Regular Certificates, any Class PEZ Regular Interests or Class PEZ Components in an amount equal to the product
of (i) the amount of such Excess Prepayment Interest Shortfall and (ii) a fraction, the numerator of which is the Interest Accrual
Amount for such Class of Regular Certificates, Class PEZ Regular

 

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Interests or Class PEZ Components for such Distribution Date
and the denominator of which is the aggregate Interest Accrual Amounts for all Classes of Regular Certificates, Class PEZ Regular
Interests and Class PEZ Components for such Distribution Date.

 

“Interest
Reserve Account”: The trust account or subaccount of the Distribution Account created and maintained by the Certificate
Administrator pursuant to Section 3.04(b) initially in the name of “Wells Fargo Bank, National Association, as Certificate
Administrator on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of GS
Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Interest Reserve Account”,
into which the amounts set forth in Section 3.21 shall be deposited directly and which must be an Eligible Account or subaccount
of an Eligible Account.

 

“Interest
Shortfall”: With respect to any Distribution Date for any Class of Regular Certificates, any Class PEZ Regular Interests
and any Class PEZ Components is the sum of (a) the portion of the Interest Distribution Amount for such Class of Regular Certificates,
Class PEZ Regular Interests or Class PEZ Components remaining unpaid as of the close of business on the preceding Distribution
Date, and (b) to the extent permitted by applicable law, (i) other than in the case of Class X Certificates, one month’s
interest on that amount remaining unpaid at the Pass-Through Rate applicable to such Class of Regular Certificates, Class PEZ
Regular Interests or Class PEZ Components for the current Distribution Date and (ii) in the case of the Class X Certificates,
one-month’s interest on that amount remaining unpaid at the Weighted Average Net Mortgage Rate (or, in the case of the Class
X-AMA and Class X-225 Certificates the Net Mortgage Rate for the related Trust Subordinate Companion Loan) for such Distribution
Date.

 

“Interested
Person”: As of the date of any determination, the Depositor, the Master Servicer, any Special Servicer, the Operating
Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Trustee, the Directing Holder, any sponsor, any
Mortgagor, any holder of a related mezzanine loan, any manager of a Mortgaged Property, any Independent Contractor engaged by
the applicable Special Servicer, or any known affiliate of any of the preceding entities. With respect to a Whole Loan if it is
a Defaulted Mortgage Loan, the Depositor, the Master Servicer, the applicable Special Servicer (or any Independent Contractor
engaged by such Special Servicer), or the Trustee for the securitization of a Companion Loan, and each related Companion Holder
or its representative, any holder of a related mezzanine loan, or any known affiliate of any such party described above.

 

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

 

“Investment
Account”: As defined in Section 3.06(a).

 

“Investment
Representation Letter”: As defined in Section 5.03(e), a form of which is attached hereto as Exhibit C.

 

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“Investor
Certification”: A certificate (which may be in electronic form) substantially in the form of Exhibit P-1A, Exhibit
P-1B, Exhibit P-1C and Exhibit P-1D to this Agreement or in the form of an electronic certification contained
on the Certificate Administrator’s Website (which may be a click-through confirmation), representing (i) that such Person
executing the certificate is a Certificateholder, the Directing Holder (to the extent such Person is not a Certificateholder),
a beneficial owner of a Certificate, a prospective purchaser of a Certificate or a Companion Holder (or any investment advisor
or manager of the foregoing), (ii) that either (a) such Person is not a Borrower Party, in which case such Person shall have access
to all the reports and information made available to Certificateholders via the Certificate Administrator’s Website hereunder,
or (b) such Person is a Borrower Party in which case (1) if such Person is the Directing Holder, a Controlling Class Certificateholder,
an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class Certificateholder, such Person shall have
access to all the reports and information made available to Certificateholders via the Certificate Administrator’s Website
hereunder other than any Excluded Information as set forth herein, or (2) if such Person is not the Directing Holder, a Controlling
Class Certificateholder, an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class Certificateholder,
such Person shall only receive access to the Distribution Date Statements prepared by the Certificate Administrator, (iii) such
Person has received a copy of the final Prospectus and (iv) such Person agrees to keep any Privileged Information confidential
and will not violate any securities laws; provided, however, that any Excluded Controlling Class Holder (i) shall
be permitted to obtain upon request in accordance with Section 4.02(f) of this Agreement any Excluded Information relating
to any Excluded Controlling Class Loan with respect to which such Excluded Controlling Class Holder is not a Borrower Party (if
such Excluded Information is not otherwise available to such Excluded Controlling Class Holder via the Certificate Administrator’s
Website on account of it constituting Excluded Information) from the Master Servicer or the applicable Special Servicer, as the
case may be, and (ii) shall be considered a Privileged Person for all other purposes, except with respect to its ability to obtain
information with respect to any related Excluded Controlling Class Loan.

 

“Investor
Q&A Forum”: As defined in Section 4.07(a).

 

“Investor
Registry”: As defined in Section 4.07(b).

 

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

 

“Late
Collections”: With respect to any Mortgage Loan, Whole Loan or Companion Loan, all amounts received thereon prior to
the related Determination Date, whether as payments, Insurance and Condemnation Proceeds, Liquidation Proceeds or otherwise, which
represent late payments or collections of principal or interest due in respect of such Mortgage Loan, Whole Loan or Companion
Loan, as applicable (without regard to any acceleration of

 

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amounts due thereunder by reason of default), on a Due Date prior to
the immediately preceding Determination Date and not previously recovered. With respect to any REO Loan, all amounts received
in connection with the related REO Property prior to the related Determination Date, whether as Insurance and Condemnation Proceeds,
Liquidation Proceeds, REO Revenues or otherwise, which represent late collections of principal or interest due or deemed due in
respect of such REO Loan or the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable (without regard to any
acceleration of amounts due under the predecessor Mortgage Loan, Whole Loan or Companion Loan, as applicable, by reason of default),
on a Due Date prior to the immediately preceding Determination Date and not previously recovered. The term “Late Collections”
shall specifically exclude Penalty Charges. With respect to any Whole Loan, as used in this Agreement, Late Collections shall
refer to such portion of Late Collections to the extent allocable to the related Mortgage Loan or related Companion Loan, as applicable,
pursuant to the terms of the related Co-Lender Agreement. With respect to the AMA Plaza Whole Loan and the 225 Bush Street Whole
Loan, as used in this Agreement, Late Collections shall refer to such portion of Late Collections to the extent allocable to the
related Mortgage Loan or Trust Subordinate Companion Loan, as applicable, pursuant to the terms of the related Co-Lender Agreement.

 

“Liquidation
Event”: With respect to any Mortgage Loan or Trust Subordinate Companion Loan or with respect to any REO Property (and
the related REO Loan), any of the following events: (i) such Mortgage Loan or Trust Subordinate Companion Loan is paid in full;
(ii) a Final Recovery Determination is made with respect to such Mortgage Loan or Trust Subordinate Companion Loan; (iii) such
Mortgage Loan is repurchased by the Mortgage Loan Seller pursuant to Section 6 of the Mortgage Loan Purchase Agreement; (iv) such
Mortgage Loan or Trust Subordinate Companion Loan is purchased by any Special Servicer, or by any Companion Holder, the related
Loan-Specific Directing Holder or any mezzanine lender (as applicable) pursuant to Section 3.16 (and the related Co-Lender
Agreement, as applicable); (v) such Mortgage Loan or Trust Subordinate Companion Loan is purchased by any Special Servicer, the
Master Servicer, the Holders of the majority of the Controlling Class or the Holders of the Class R Certificates pursuant to Section
9.01 or acquired by the Sole Certificateholder in exchange for its Certificates pursuant to Section 9.01; or (vi) such
Mortgage Loan or Trust Subordinate Companion Loan is sold by any Special Servicer pursuant to the terms of this Agreement.

 

“Liquidation
Expenses”: All customary, reasonable and necessary “out of pocket” costs and expenses incurred by any Special
Servicer in connection with a liquidation of any Specially Serviced Mortgage Loan or REO Property (except with respect to a Non-Serviced
Mortgaged Property) pursuant to Section 3.16 (including, without limitation, legal fees and expenses, committee or referee
fees and, if applicable, brokerage commissions and conveyance taxes).

 

“Liquidation
Fee”: A fee payable to the applicable Special Servicer with respect to (i) each Specially Serviced Mortgage Loan or
REO Property (except with respect to a Non-Serviced Mortgaged Property) as to which such Special Servicer receives (a) a full,
partial or discounted payoff from or on behalf of the related Mortgagor or (b) any Liquidation Proceeds or Insurance and Condemnation
Proceeds (including the related Companion Loan, if applicable), or REO Property (in any case, other than amounts for which a Workout
Fee has been paid, or

 

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will be payable) and (ii) except as described below, with respect to any Mortgage Loan for which the applicable
Special Servicer is the Enforcing Servicer and either (A) such Mortgage Loan is repurchased or substituted for by the Mortgage
Loan Seller or (B) a Loss of Value Payment has been made with respect to such Mortgage Loan, equal to the product of the Liquidation
Fee Rate and the proceeds of such full, partial or discounted payoff or other partial payment or the Liquidation Proceeds or Insurance
and Condemnation Proceeds (net of the related costs and expenses associated with the related liquidation) related to such liquidated
Mortgage Loan, Specially Serviced Mortgage Loan or REO Property, as the case may be; provided, however, that no
Liquidation Fee shall be payable with respect to (a) the purchase of any Specially Serviced Mortgage Loan by any Special Servicer
or any Affiliate thereof (except if such Affiliate purchaser is the Directing Holder or any Affiliate thereof; provided,
however, that prior to a Control Termination Event, if the Directing Holder or an Affiliate thereof, purchases any Specially
Serviced Mortgage Loan within ninety (90) days (as may be extended) after the applicable Special Servicer delivers to the Directing
Holder for its approval the initial Asset Status Report with respect to such Specially Serviced Mortgage Loan, such Special Servicer
will not be entitled to a Liquidation Fee in connection with such purchase by the Directing Holder or its Affiliates), (b) any
event described in clause (iv) and clause (vii) of the definition of “Liquidation Proceeds” (or any
substitution in lieu of a repurchase) so long as such repurchase, substitution or Loss of Value Payment occurs prior to the termination
of the Initial Cure Period or, if any, the Extended Cure Period, (c) any event described in clauses (v) and (vi)
of the definition of “Liquidation Proceeds”, as long as, with respect to a purchase pursuant to clause (vi)
of the definition of “Liquidation Proceeds”, a purchase occurs within ninety (90) days of such holder’s purchase
option first becoming exercisable during that period prior to such Mortgage Loan becoming a Corrected Loan pursuant to the related
Co-Lender Agreement, (d) with respect to a Serviced Companion Loan, (x) a repurchase of such Serviced Companion Loan by the Mortgage
Loan Seller for a breach of a representation or warranty or for a defective or deficient mortgage loan documentation under an
Other Pooling and Servicing Agreement within the time period (or extension thereof) provided for such repurchase of such repurchase
occurs prior to the termination of the extended resolution period provided therein or (y) a purchase of such Serviced Companion
Loan by any applicable party to the Other Pooling and Servicing Agreement pursuant to a clean-up call or similar liquidation of
the Other Securitization; (e) the purchase of all of the Mortgage Loans and REO Properties and, if applicable, the Trust Subordinate
Companion Loans, in connection with an optional termination of the Trust; or (f) if a Mortgage Loan or Serviced Whole Loan becomes
a Specially Serviced Mortgage Loan solely because of a Servicing Transfer Event described in clause (i) of the definition
of “Servicing Transfer Event”, Liquidation Proceeds are received within ninety (90) days following the related Maturity
Date as a result of such Mortgage Loan or Serviced Whole Loan being refinanced or otherwise repaid in full (but, in the event
that a Liquidation Fee is not payable due to the application of any of clauses (a) through (e) above, each Special
Servicer may still collect and retain a Liquidation Fee and similar fees from the related Mortgagor to the extent provided for
in, or not prohibited by, the related loan documents). The Liquidation Fee for each such repurchased or substituted Mortgage Loan,
Specially Serviced Mortgage Loan or REO Property will be payable from, and will be calculated by application of the Liquidation
Fee Rate, to the related payment or proceeds; provided that the Liquidation Fee with respect to any Specially Serviced Mortgage
Loan or REO Property will be reduced by the amount of any Excess Modification Fees paid by or on behalf of the related borrower
with respect to the Specially

 

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Serviced Mortgage Loan or REO Property as described in the definition of “Excess Modification
Fees”, but only to the extent those fees have not previously been deducted from a Workout Fee or Liquidation Fee; provided,
however, that, except as contemplated by each of the immediately preceding provisos and the second following paragraph, no Liquidation
Fee will be less than $25,000.

 

“Liquidation
Fee Rate”: A rate equal to the lesser of (a) such rate as would result in a Liquidation Fee of $1,000,000 and (b) 1.0%
with respect to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) repurchased, substituted or for which a Loss of Value
Payment has been made, as contemplated by Section 2.03 of this Agreement, each Specially Serviced Mortgage Loan (or Trust
Subordinate Companion Loan) and each REO Property, provided, however, that except as contemplated in the definition
of “Liquidation Fee”, no Liquidation Fee will be less than $25,000.

 

“Liquidation
Proceeds”: Cash amounts received by or paid to the Master Servicer or any Special Servicer in connection with: (i) the
liquidation (including a payment in full) of a Mortgaged Property or other collateral constituting security for a Defaulted Mortgage
Loan or defaulted Companion Loan, through a trustee’s sale, foreclosure sale, REO Disposition or otherwise, exclusive of
any portion thereof required to be released to the related Mortgagor in accordance with applicable law and the terms and conditions
of the related Mortgage Note and Mortgage; (ii) the realization upon any deficiency judgment obtained against a Mortgagor; (iii)
any sale of (A) a Specially Serviced Mortgage Loan pursuant to Section 3.16(a) or (B) any REO Property pursuant to Section
3.16(b); (iv) the repurchase of a Mortgage Loan or Trust Subordinate Companion Loan by the Mortgage Loan Seller pursuant to
Section 6 of the Mortgage Loan Purchase Agreement; (v) the purchase of a Mortgage Loan, Trust Subordinate Companion Loan or REO
Property by the Holders of the majority of the Controlling Class, any Special Servicer, the Master Servicer or the Holders of
the Class R Certificates pursuant to Section 9.01; (vi) the purchase of a Mortgage Loan, Trust Subordinate Companion Loan
or an REO Property by (a) the applicable Subordinate Companion Holder (or in the case of the AMA Plaza Whole Loan, the holder
of the Non-Trust Subordinate Companion Loan) or (b) the related mezzanine lender pursuant to Section 3.16 and the related
Co-Lender Agreement; or (vii) the transfer of any Loss of Value Payments from the Loss of Value Reserve Fund to the Collection
Account in accordance with Section 3.05(g) of this Agreement (provided that, for the purpose of determining the
amount of the Liquidation Fee (if any) payable to the applicable Special Servicer in connection with such Loss of Value Payment,
the full amount of such Loss of Value Payment shall be deemed to constitute “Liquidation Proceeds” from which the
Liquidation Fee (if any) is payable as of such time such Loss of Value Payment is made by the Mortgage Loan Seller). With respect
to any Whole Loan, as used in this Agreement, Liquidation Proceeds shall refer to such portion of Liquidation Proceeds to the
extent allocable to the related Mortgage Loan or related Companion Loan, as applicable, pursuant to the terms of the related Co-Lender
Agreement.

 

“Loan-Specific
Certificates”: The AMA Plaza Loan-Specific Certificates and the 225 Bush Street Loan-Specific Certificates.

 

“Loan-Specific
Directing Holder”: (a) with respect to the AMA Plaza Whole Loan, (i) the holder of the Non-Trust Subordinate Companion
Loan unless a Non-Trust

 

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Subordinate Companion Loan Control Termination Event has occurred and is continuing and (ii) if a Non-Trust
Subordinate Companion Loan Control Termination Event has occurred and is continuing, the AMA Plaza Controlling Class Representative
and (b) with respect to the 225 Bush Street Whole Loan, the 225 Bush Street Controlling Class Representative.

 

“Loan-Specific
Initial Purchaser”: Goldman Sachs & Co.

 

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

 

“Loss
of Value Reserve Fund”: The “outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h))
designated as such pursuant to Section 3.04(j) of this Agreement. The Loss of Value Reserve Fund will be part of the Trust
Fund but not part of the Grantor Trust or any Trust REMIC.

 

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

 

“Lower-Tier
Principal Amount”: With respect to any Class of Lower-Tier Regular Interests or Trust Subordinate Companion Loan REMIC
Regular Interests, (i) on or prior to the first Distribution Date, an amount equal to the Original Lower-Tier Principal Amount
of such Class as specified in the Preliminary Statement hereto, and (ii) as of any date of determination after the first Distribution
Date, an amount equal to the Certificate Balance of the Class of Related Certificates on the Distribution Date immediately prior
to such date of determination (determined as adjusted pursuant to Section 1.02(iii)), and as set forth in Section 4.01(b)
or Section 4.01(c), respectively.

 

“Lower-Tier
Regular Interests”: Any of the Class LA1, Class LA2, Class LA3, Class LA4, Class LAAB, Class LAS, Class LB, Class LC,
Class LD, Class LE, Class LF and Class LG Uncertificated Interests.

 

“Lower-Tier
REMIC”: One of four separate REMICs comprising a portion of the Trust Fund, the assets of which consist of the Mortgage
Loans (exclusive of Excess Interest) and the proceeds thereof, any REO Property with respect thereto (or an allocable portion
thereof, in the case of any Serviced Mortgage Loan), or the Trust’s beneficial interest in the REO Property with respect
to a Non-Serviced Whole Loan, such amounts as shall from time to time be held in the Collection Account (other than with respect
to any Companion Loan), the related portion of the REO Accounts, if any, the Interest Reserve Account, the Gain-on-Sale Reserve
Account, the Lower-Tier REMIC Distribution Account, and all other properties included in the Trust Fund that are not in the AMA
Plaza Trust Subordinate Companion Loan REMIC, the 225 Bush Street Trust Subordinate Companion Loan REMIC, the Upper Tier REMIC
or the Grantor Trust.

 

“Lower-Tier
REMIC Distribution Account”: The segregated account, accounts or sub-accounts created and maintained by the Certificate
Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for the Certificateholders, which shall initially
be entitled “Wells Fargo Bank, National Association, as Certificate Administrator on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4, Lower-Tier REMIC Distribution Account”. Any such account, accounts or sub-accounts
shall be an Eligible Account.

 

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“LTV
Ratio”: With respect to any Mortgage Loan, as of any date of determination, a fraction, expressed as a percentage, the
numerator of which is the scheduled principal balance of such Mortgage Loan, as of such date (assuming no defaults or prepayments
on such Mortgage Loan prior to that date), and the denominator of which is the Appraised Value of the related Mortgaged Property.

 

“MAI”:
Member of the Appraisal Institute.

 

“Major
Decision”: As defined in Section 6.08(a).

 

“Master
Servicer”: With respect to each of the Mortgage Loans, Wells Fargo Bank, National Association, and its successors in
interest and assigns, or any successor appointed as allowed herein.

 

“Master
Servicer Major Decision”: Any Major Decision under clauses (xiii) through (xviii) of the definition of “Major
Decision.”

 

“Master
Servicer Proposed Course of Action Notice”: As defined in Section 2.03(i) of this Agreement.

 

“Master
Servicer Remittance Date”: The Business Day immediately preceding each Distribution Date.

 

“Material
Defect”: With respect to any Mortgage Loan (and/or Trust Subordinate Companion Loan, as the case may be), a Material
Document Defect in any Mortgage File or a Material Breach, which Material Document Defect or Material Breach, as the case may
be, materially and adversely affects the value of such Mortgage Loan (and/or Trust Subordinate Companion Loan, as the case may
be), the value of the related Mortgaged Property or the interests of the Trustee or any Certificateholder therein or causes such
Mortgage Loan (and/or Trust Subordinate Companion Loan, as the case may be) to be other than a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, but without regard to the rule of Treasury regulations Section 1.860G-2(f)(2)
that causes a defective Mortgage Loan (and/or Trust Subordinate Companion Loan, as the case may be) to be treated as a qualified
mortgage.

 

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

 

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

 

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

 

“Merger
Notice”: As defined in Section 6.03(b).

 

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“Modification
Fees”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Companion Loans, any
and all fees with respect to a modification, extension, waiver or amendment that modifies, extends, amends or waives any term
of the Mortgage Loan documents and/or related Serviced Companion Loan documents (as evidenced by a signed writing) agreed to by
the Master Servicer or the applicable Special Servicer, as applicable (other than all assumption fees, assumption application
fees, consent fees, defeasance fees, Special Servicing Fees, Liquidation Fees or Workout Fees).

 

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

 

“Mortgage”:
With respect to any Mortgage Loan or Companion Loan, the mortgage(s), deed(s) of trust or other instrument(s) securing the related
Mortgage Note and creating a first mortgage lien on the fee and/or leasehold interest in the related Mortgaged Property.

 

“Mortgage
File”: With respect to each Mortgage Loan or Companion Loan, if applicable, but subject to Section 2.01, collectively
the following documents; provided that for the avoidance of doubt, references to the Mortgage File for the Trust Subordinate Companion
Loans shall refer to the Mortgage File for the AMA Plaza Mortgage Loan and the Mortgage Note(s) evidencing such AMA Plaza Trust
Subordinate Companion Loan or the 225 Bush Street Mortgage Loan and the Mortgage Note(s) evidencing such 225 Bush Street Trust
Subordinate Companion Loan, as applicable:

 

(1)       the
original executed Mortgage Note for such Mortgage Loan, endorsed (without recourse, representation or warranty, express or implied)
to the order of “Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of GS Mortgage
Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4” or in blank, and further showing
a complete, unbroken chain of endorsement from the originator (if such originator is not the Mortgage Loan Seller) (or, alternatively,
executed Mortgage Note has been lost, a lost note affidavit and indemnity with a copy of such Mortgage Note) and in the case of
a Serviced Whole Loan, a copy of the executed Mortgage Note for the related Companion Loan;

 

(2)       an
original or copy of the Mortgage, together with an original or copy of any intervening assignments of the Mortgage, in each case
(unless the particular item has not been returned from the applicable recording office) with evidence of recording indicated thereon
or certified by the applicable recorder’s office;

 

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(3)       an
original or a copy of any related assignment of leases (if such item is a document separate from the Mortgage), together with
originals or copies of any intervening assignments thereof, in each case (unless the particular item has not been returned from
the applicable recording office) with evidence of recording indicated thereon or certified by the applicable recorder’s
office;

 

(4)       an
original executed assignment, in recordable form (except for missing recording information not yet available if the instrument
being assigned has not been returned from the applicable recording office), of (A) the Mortgage and (B) any related assignment
of leases (if such item is a document separate from the Mortgage), in favor of “Wilmington Trust, National Association,
as Trustee, for the benefit of the registered holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4” and the holder of the related Companion Loan, as their interests may appear or a copy of
such assignment (if the Mortgage Loan Seller or its designee, rather than the trustee or certificate administrator, is responsible
for the recording thereof);

 

(5)       an
original or copy of the assignment of all unrecorded documents relating to the Mortgage Loan, in favor of the trustee, for the
benefit of the registered holders of the certificates and the holder of the related Companion Loan, as their interests may appear;

 

(6)       originals
or copies of final written modification, consolidation, assumption, written assurance and substitution agreements in those instances
where the terms or provisions of the Mortgage or Mortgage Note for such Mortgage Loan (or, if applicable, any Mortgage Note of
a Whole Loan) or the related Mortgage have been modified or the Mortgage Loan has been assumed or consolidated, in each case (unless
the particular item has not been returned from the applicable recording office) with evidence of recording indicated thereon if
the instrument being modified is a recordable document;

 

(7)       the
original (which may be in the form of an electronically issued title policy) or a copy of the policy or certificate of lender’s
title insurance issued in connection with such Mortgage Loan or the related Serviced Whole Loan, or, if such policy has not been
issued, a “marked up” pro forma title policy marked as binding and countersigned by the title insurer or its authorized
agent, or an irrevocable, binding commitment to issue such title insurance policy;

 

(8)       an
original or copy of the related Ground Lease relating to such Mortgage Loan (or the related Serviced Whole Loan, if applicable),
if any, and any ground lessor estoppel;

 

(9)       an
original or copy of the related loan agreement, if any;

 

(10)     an
original of any guaranty under such Mortgage Loan or the related Whole Loan, if any;

 

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(11)     an
original or copy of the environmental indemnity from the related Mortgagor, if any;

 

(12)     an
original or copy of the related escrow agreement and the related security agreement (in each case, if such item is a document
separate from the Mortgage) and, if applicable, the originals or copies of any intervening assignments thereof;

 

(13)     an
original assignment of the related security agreement (if such item is a document separate from the Mortgage and if such item
is not included in the assignment described in clause (v)), in favor of the trustee for the benefit of the Certificateholders
and the holder of the related Companion Loan, as their interests may appear;

 

(14)     any
filed copies (bearing evidence of filing) or evidence of filing of any Uniform Commercial Code (“UCC”) financing statements
in favor of the originator of such Mortgage Loan or the related Whole Loan or in favor of any assignee prior to the Trustee, and
an original UCC-3 assignment thereof, in form suitable for filing, in favor of the trustee (or, in each case, a copy thereof,
certified to be the copy of such assignment submitted or to be submitted for filing);

 

(15)     an
original or copy of the lock box agreement or cash management agreement relating to a Mortgage Loan or a Serviced Whole Loan;

 

(16)      in
the case of any Mortgage Loan or the related Whole Loan as to which there exists a related mezzanine loan, an original or a copy
of any related mezzanine intercreditor agreement;

 

(17)     an
original or copy of any related environmental insurance policy or guaranty relating to a Mortgage Loan or a Serviced Whole Loan;

 

(18)     a
copy of any letter of credit relating to such Mortgage Loan or the related Whole Loan and any related assignment thereof (with
the original to be delivered to the master servicer);

 

(19)     copies
of any franchise agreement, property management agreement or hotel management agreement and related comfort letters (together
with (i) copies of any notices of transfer that are necessary to transfer or assign to the issuing entity or the trustee the benefits
of such comfort letter or (ii) if the related comfort letter contemplates that a request be made of the related franchisor to
issue a replacement comfort letter for the benefit of the issuing entity or trustee, a copy of the notice requesting the issuance
of such replacement comfort letter (the copy of such notice shall be delivered by the Mortgage Loan Seller to the custodian for
inclusion in the Mortgage File within the time period set forth in this Agreement and/or estoppel letters relating to such Mortgage
Loan or the related Serviced Whole Loan and any related assignment thereof; and

 

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(20)     in
the case of a Whole Loan, an original or a copy of the related Co-Lender Agreement;

 

provided
that with respect to any Mortgage Loan which is a Non-Serviced Mortgage Loan on the Closing Date, the foregoing documents
(other than the documents described in clause (1) above) will be delivered to and held by the custodian under the related Non-Serviced
Pooling Agreement on or prior to the Closing Date; provided, however, that (a) whenever the term “Mortgage
File” is used to refer to documents held by the Custodian, such term shall not be deemed to include such documents and instruments
required to be included therein unless they are actually received by the Custodian, (b) if there exists with respect to any Crossed
Mortgage Loan Group only one original or certified copy of any document referred to in the definition of “Mortgage File”
covering all of the Mortgage Loans in such Crossed Mortgage Loan Group, then the inclusion of such original or certified copy
in the Mortgage File for any of the Mortgage Loans constituting such Crossed Mortgage Loan Group shall be deemed the inclusion
of such original or certified copy in the Mortgage File for each such Mortgage Loan, (c) to the extent that this Agreement refers
to a “Mortgage File” for a Companion Loan, such “Mortgage File” shall be construed to mean the Mortgage
File for the related Mortgage Loan (except that references to the Mortgage Note for a Companion Loan otherwise described above
shall be construed to instead refer to a photocopy of such Mortgage Note), (d) with respect to any Mortgage Loan that has a Serviced
Companion Loan, the execution and/or recordation of any assignment of Mortgage, any separate assignment of Assignment of Leases
and any assignment of any UCC Financing Statement in the name of the Trustee shall not be construed to limit the beneficial interest
of the related Companion Holder(s) in such instrument and the benefits intended to be provided to them by such instrument, it
being acknowledged that (i) the Trustee shall hold such record title for the benefit of the Trust as the holder of the related
Mortgage Loan and the related Companion Holder(s) collectively and (ii) any efforts undertaken by the Trustee, the Master Servicer,
or the applicable Special Servicer on its behalf to enforce or obtain the benefits of such instrument shall be construed to be
so undertaken by Trustee, the Master Servicer or the applicable Special Servicer for the benefit of the Trust as the holder of
the applicable Mortgage Loan and the related Companion Holder(s) collectively and (e) in connection with any Non-Serviced Mortgage
Loan, the preceding document delivery requirements will be met by the delivery by the Mortgage Loan Seller of copies of the documents
specified above (other than the Mortgage Note and intervening endorsements evidencing such Mortgage Loan, with respect to which
the original shall be required) including a copy of the Mortgage securing the applicable Mortgage Loan and any assignments or
other transfer documents referred to in clauses (3), (4), (6), (7), (9) and (10) above
as being in favor of the Trustee shall instead be in favor of the applicable Non-Serviced Trustee and need only be in such form
as was delivered to the applicable Non-Serviced Trustee or a custodian on its behalf, provided that with respect to such Non-Serviced
Mortgage Loan if Wells Fargo Bank, National Association is also the custodian with respect to such Non-Serviced Mortgage Loan
then no copies of the Mortgage File relating to such Non-Serviced Mortgage Loan shall be delivered.

 

“Mortgage
Loan”: Each of the mortgage loans (other than (i) the Trust Subordinate Companion Loans and (ii) the Crossed Underlying
Loans of a Crossed Mortgage Loan Group, it being understood that for the purposes of this Agreement each Crossed Mortgage Loan
Group shall be treated as one Mortgage Loan) transferred and assigned to the Trustee pursuant to Section 2.01 and to be
held by the Trust. As used herein, the term “Mortgage Loan”

 

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includes the related Mortgage Note, Mortgage and other
documents contained in the related Mortgage File and any related agreements. The term “Mortgage Loan” shall, as of
any date of determination, include any Qualified Substitute Mortgage Loan that has replaced a Mortgage Loan pursuant to Section
2.03 and exclude any such replaced Mortgage Loan.

 

“Mortgage
Loan Checklist”: As defined in the definition of “Mortgage File.”

 

“Mortgage
Loan Purchase Agreement”: The agreement between the Depositor and the Mortgage Loan Seller, relating to the transfer
of all of the Mortgage Loan Seller’s right, title and interest in and to the related Mortgage Loans and Trust Subordinate
Companion Loans, if applicable.

 

“Mortgage
Loan Schedule”: The list of Mortgage Loans and the Trust Subordinate Companion Loans transferred on the Closing Date
to the Trustee as part of the Trust Fund, attached hereto as Exhibit B, which list sets forth the following information
with respect to each Mortgage Loan and Trust Subordinate Companion Loan so transferred:

 

(i)       the
loan identification number (as specified in Annex A-1 to the Prospectus);

 

(ii)      the
Mortgagor’s name;

 

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

 

(iv)     the
Mortgage Rate in effect at origination;

 

(v)      the
Net Mortgage Rate in effect at the Cut-off Date;

 

(vi)     the
original principal balance;

 

(vii)    the
Cut-off Date Principal Balance;

 

(viii)   the
(a) original term to stated maturity, (b) remaining term to stated maturity and (c) Maturity Date;

 

(ix)      the
original and remaining amortization terms;

 

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

 

(xi)      the
applicable Servicing Fee Rate;

 

(xii)     whether
the Mortgage Loan or Trust Subordinate Companion Loan is a 30/360 Mortgage Loan or an Actual/360 Mortgage Loan;

 

(xiii)    whether
such Mortgage Loan or Trust Subordinate Companion Loan is secured by the related Mortgagor’s interest in a ground lease;

 

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(xiv)   identifying
any Mortgage Loans with which Mortgage Loan is cross-defaulted or cross-collateralized;

 

(xv)    the
originator of the related Mortgage Loan or Trust Subordinate Companion Loan and the Mortgage Loan Seller;

 

(xvi)   whether
the related Mortgage Loan or Trust Subordinate Companion Loan has a guarantor;

 

(xvii)  whether
the related Mortgage Loan or Trust Subordinate Companion Loan is secured by a letter of credit;

 

(xviii) amount
of any reserve or escrowed funds that were deposited at origination and any ongoing periodic deposit requirements;

 

(xix)    number
of grace days;

 

(xx)     whether
a cash management agreement or lock-box agreement is in place;

 

(xxi)    the
general property type of the related Mortgaged Property;

 

(xxii)   whether
the related Mortgage Loan permits defeasance;

 

(xxiii)  the
interest accrual period; and

 

(xxiv)  the
number of units, rooms, pads or square feet with respect to each Mortgaged Property.

 

Such
Mortgage Loan Schedule shall also set forth the aggregate of the amounts described under clause (vii) above for all of
the Mortgage Loans. Such list may be in the form of more than one list, collectively setting forth all of the information required.

 

“Mortgage
Loan Seller”: Goldman Sachs Mortgage Company, a New York limited partnership, or its successor in interest.

 

“Mortgage
Note”: The original executed note(s) evidencing the indebtedness of a Mortgagor under a Mortgage Loan or Companion Loan,
as the case may be, together with any rider, addendum or amendment thereto.

 

“Mortgage
Rate”: With respect to: (i) any Mortgage Loan (including any Non-Serviced Mortgage Loan), REO Loan, Companion Loan,
Serviced Whole Loan, AMA Plaza Component or 225 Bush Street Component, on or prior to its Maturity Date, the annual rate at which
interest is scheduled (in the absence of a default) to accrue (or, if and while it is an REO Loan, is deemed to accrue) on such
Mortgage Loan, REO Loan, Companion Loan, Serviced Whole Loan, AMA Plaza Component or 225 Bush Street Component from time to time
in accordance with the related Mortgage Note, promissory note or componentization notice and applicable law; or (ii) any Mortgage
Loan (including any Non-Serviced Mortgage Loan), REO

 

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Loan, Companion Loan, AMA Plaza Component or 225 Bush Street Component after
its Maturity Date, the annual rate described in clause (i) above determined without regard to the passage of such Maturity
Date.

 

“Mortgaged
Property”: The real property subject to the lien of a Mortgage.

 

“Mortgagor”:
The obligor or obligors on a Mortgage Note, including without limitation, any Person that has acquired the related Mortgaged Property
and assumed the obligations of the original obligor under the Mortgage Note and including in connection with any Mortgage Loan
that utilizes an indemnity deed of trust structure, the borrower and the Mortgaged Property owner/payment guarantor/mortgagor
individually and collectively, as the context may require.

 

“Net
Investment Earnings”: With respect to the Collection Accounts, the Servicing Accounts or the REO Accounts or Serviced
Whole Loan Custodial Account for any period from any Distribution Date to the immediately succeeding Master Servicer Remittance
Date, the amount, if any, by which the aggregate of all interest and other income realized during such period on funds relating
to the Trust Fund held in such account, exceeds the aggregate of all losses, if any, incurred during such period in connection
with the investment of such funds in accordance with Section 3.06.

 

“Net
Investment Loss”: With respect to the Collection Account, the Servicing Accounts or the REO Accounts or Serviced Whole
Loan Custodial Account for any period from any Distribution Date to the immediately succeeding Master Servicer Remittance Date,
the amount by which the aggregate of all losses, if any, incurred during such period in connection with the investment of funds
relating to the Trust held in such account in accordance with Section 3.06, exceeds the aggregate of all interest and other
income realized during such period on such funds.

 

“Net
Mortgage Rate”: With respect to each Mortgage Loan (including a Non-Serviced Mortgage Loan), REO Loan (including any
portion of an REO Loan related to a Trust Subordinate Companion Loan or its Components, but excluding the portion of an REO Loan
related to any other Companion Loan) and Component as of any date of determination, a rate per annum equal to the related
Mortgage Rate then in effect (without regard to any increase in the interest rate of any ARD Loan after the related Anticipated
Repayment Date), minus the related Administrative Cost Rate; provided, however, that for purposes of calculating
Pass-Through Rates and Withheld Amounts, the Net Mortgage Rate for any Mortgage Loan or Component will be determined without regard
to any modification, waiver or amendment of the terms of the related Mortgage Loan or Component, whether agreed to by the Master
Servicer or the applicable Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the Mortgagor;
provided, further, that for any Mortgage Loan that accrues interest on an Actual/360 Basis, then, solely for purposes
of calculating Pass-Through Rates and the Weighted Average Net Mortgage Rate, the Net Mortgage Rate of such Mortgage Loan or for
any one-month period preceding a related Due Date will be the annualized rate at which interest would have to accrue in respect
of such Mortgage Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount
of interest actually accrued in respect of such Mortgage Loan during such one-month period at the related Net Mortgage Rate;

 

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provided,
further, that, with respect to each Actual/360 Mortgage Loan, the Net Mortgage Rate for the one-month period (A) preceding
the Due Dates that occur in January and February in any year which is not a leap year or preceding the Due Date that occurs in
February in any year which is a leap year (in either case, unless the related Distribution Date is the final Distribution Date),
will be determined exclusive of any Withheld Amounts, and (B) preceding the Due Date in March (or February, if the related Distribution
Date is the final Distribution Date), will be determined inclusive of the amounts withheld in the immediately preceding January
and February, if applicable. With respect to any REO Loan, the Net Mortgage Rate shall be calculated as described above, determined
as if the predecessor Mortgage Loan or Trust Subordinate Companion Loan (or its Components) had remained outstanding.

 

“Net
Operating Income”: With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating
Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time
to time endorsed and put forth by the CREFC®.

 

“New
Lease”: Any lease of REO Property entered into at the direction of the applicable Special Servicer on behalf of the
Trust, including any lease renewed, modified or extended on behalf of the Trust, if the Trust has the right to renegotiate the
terms of such lease.

 

“Non-Book
Entry Certificates”: As defined in Section 5.02(c).

 

“Nonrecoverable
Advance”: Any Nonrecoverable P&I Advance or Nonrecoverable Property Protection Advance.

 

“Nonrecoverable
P&I Advance”: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan (including
any Non-Serviced Mortgage Loan), Trust Subordinate Companion Loan or REO Loan (other than any portion of an REO Loan related to
a Companion Loan) which, in the reasonable judgment of the Master Servicer or the Trustee, as applicable, will not be ultimately
recoverable, together with any accrued and unpaid interest thereon at the Reimbursement Rate, from Late Collections or any other
recovery on or in respect of such Mortgage Loan, Trust Subordinate Companion Loan or REO Loan; provided, however,
that the applicable Special Servicer may, at its option make a determination in accordance with the Servicing Standard, that any
P&I Advance previously made or proposed to be made is a Nonrecoverable P&I Advance and shall deliver to the Master Servicer
(and with respect to a Serviced Whole Loan, to any Other Servicer, and with respect to a Non-Serviced Mortgage Loan, to the related
Non-Serviced Master Servicer), the Certificate Administrator, the Trustee, the Operating Advisor and the 17g-5 Information Provider
notice of such determination. Any such determination shall be binding upon, the Master Servicer and the Trustee, provided,
however, that no Special Servicer shall have any obligation to make an affirmative determination that any P&I Advance
is or would be recoverable; however, if a Special Servicer makes any such determination, such determination shall not be binding
upon the Master Servicer or the Trust. In the absence of a determination by such Special Servicer that such P&I Advance is
or would be a Nonrecoverable P&I Advance, such decision shall remain with the Master Servicer or Trustee, as applicable. If
a Special Servicer makes a determination that only a portion, and not all, of any previously made or proposed P&I Advance
is a Nonrecoverable P&I Advance, the Master Servicer and the Trustee shall have the right to make its own subsequent determination
that any

 

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remaining portion of any such previously made or proposed P&I Advance is a Nonrecoverable P&I Advance. With respect
to any Non-Serviced Whole Loan, if any Non-Serviced Master Servicer or Non-Serviced Special Servicer, as applicable, in connection
with a securitization of the related Non-Serviced Companion Loan determines that a principal and interest advance with respect
to the related Non-Serviced Companion Loan, if made, would be a Nonrecoverable P&I Advance, such determination shall not be
binding on the Master Servicer and the Trustee as it relates to any proposed P&I Advance with respect to the related Non-Serviced
Mortgage Loan; provided, however, the Master Servicer and the Trustee may rely on the non-recoverability determination
of the Other Master Servicer or Other Trustee under the related Non-Serviced Pooling Agreement. Similarly, with respect to the
related Non-Serviced Mortgage Loan, if the Master Servicer or the applicable Special Servicer determines that any P&I Advance
with respect to a related Non-Serviced Mortgage Loan, if made, would be a Nonrecoverable P&I Advance, such determination shall
not be binding on the related Non-Serviced Master Servicer and related Non-Serviced Trustee as it relates to any proposed P&I
Advance with respect to the related Non-Serviced Companion Loan (unless the related Non-Serviced Pooling Agreement provides otherwise);
provided, however, the other Master Servicer and Other Trustee under the related Non-Serviced Pooling Agreement
may rely on the non-recoverability determination of the Master Servicer or the Trustee. In making such recoverability determination,
the Master Servicer, the applicable Special Servicer or Trustee, as applicable, will be entitled (a) to consider (among other
things) (i) the obligations of the Mortgagor under the terms of the related Mortgage Loan or Companion Loan as it may have been
modified and (ii) the related Mortgaged Properties in their “as-is” or then-current conditions and occupancies, as
modified by such party’s assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the applicable
Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) regarding
the possibility and effects of future adverse change with respect to such Mortgaged Properties, (b) to estimate and consider (consistent
with the Servicing Standard in the case of the Master Servicer and the applicable Special Servicer or in its good faith business
judgment in the case of the Trustee, solely in its capacity as Trustee) (among other things) future expenses, (c) to estimate
and consider (consistent with the applicable Servicing Standard in the case of the Master Servicer and the applicable Special
Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among other things)
the timing of recoveries, (d) in the case of a potential P&I Advance with respect to a Trust Subordinate Companion Loan, the
subordinate nature of such Trust Subordinate Companion Loan and (e) to give due regard to the existence of any Nonrecoverable
Advances which, at the time of such consideration, the recovery of which are being deferred or delayed by the Master Servicer
or the Trustee, in light of the fact that related proceeds are a source of recovery not only for the Advance under consideration
but also a potential source of recovery for such delayed or deferred Advance. In addition, any Person, in considering whether
a P&I Advance is a Nonrecoverable Advance, will be entitled to give due regard to the existence of any outstanding Nonrecoverable
Advance or Workout-Delayed Reimbursement Amount with respect to other Mortgage Loans or Trust Subordinate Companion Loans by the
Master Servicer or the Trustee because there is insufficient principal available for such Loan which, at the time of such consideration,
the reimbursement of which is being deferred or delayed, in light of the fact that proceeds on the related Mortgage Loan or Trust
Subordinate Companion Loan are a source of reimbursement not only for the P&I Advance under consideration, but also as a potential
source of reimbursement of such Nonrecoverable Advance or Workout-Delayed Reimbursement

 

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Amounts which are or may be being deferred
or delayed. In addition, any such Person may update or change its recoverability determinations at any time (but not reverse any
other Person’s determination that an Advance is a Nonrecoverable Advance) and, consistent with the Servicing Standard, in
the case of the Master Servicer or in its good faith business judgment in the case of the Trustee (solely in its capacity as Trustee),
may obtain, promptly upon request from the applicable Special Servicer at the expense of the Trust any reasonably required analysis,
Appraisals or market value estimates or other information for making a recoverability determination. Absent bad faith, the Master
Servicer’s, the applicable Special Servicer’s or the Trustee’s determination as to the recoverability of any
P&I Advance shall be conclusive and binding on the Certificateholders. The determination by the Master Servicer, the applicable
Special Servicer or the Trustee, as applicable, that the Master Servicer or the Trustee, as applicable, has made a Nonrecoverable
P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, or any updated
or changed recoverability determination, shall be evidenced by an Officer’s Certificate delivered by either the applicable
Special Servicer or the Master Servicer to the other and to the Trustee, the Certificate Administrator, the Controlling Class
Representative (but only prior to the occurrence of a Consultation Termination Event and only with respect to any Mortgage Loan
or Trust Subordinate Companion Loan other than an Excluded Loan) (and, in the case of a Serviced Mortgage Loan, any Other Servicer),
the Operating Advisor (but only in the case of the applicable Special Servicer), the Depositor, or by the Trustee to the Depositor,
the Master Servicer, the applicable Special Servicer the Operating Advisor (and, in the case of a Serviced Mortgage Loan, any
Other Servicer) and the Certificate Administrator. The Officer’s Certificate shall set forth such determination of nonrecoverability
and the considerations of the Master Servicer, the applicable Special Servicer or the Trustee, as applicable, forming the basis
of such determination (which shall be accompanied by, to the extent available, income and expense statements, rent rolls, occupancy
status, property inspections and any other information used by the Master Servicer, such Special Servicer or the Trustee, as applicable,
to make such determination and shall include any existing Appraisal of the related Mortgage Loan or Trust Subordinate Companion
Loan, or the related Mortgaged Property). The applicable Special Servicer’s determination that a P&I Advance is or would
be nonrecoverable shall be binding on the Master Servicer and the Trustee. In the case of a cross-collateralized Mortgage Loan
(if any), such recoverability determination shall take into account the cross-collateralization of the related cross-collateralized
Mortgage Loan.

 

“Nonrecoverable
Property Protection Advance”: Any Property Protection Advance previously made or proposed to be made in respect of a
Mortgage Loan (other than a Non-Serviced Mortgage Loan), Whole Loan or REO Property which, in the reasonable judgment of the Master
Servicer, the applicable Special Servicer or the Trustee, as the case may be, will not be ultimately recoverable, together with
any accrued and unpaid interest thereon, at the Reimbursement Rate, from Late Collections or any other recovery on or in respect
of such Mortgage Loan, Whole Loan, REO Property. In making such recoverability determination, such Person will be entitled (a)
to consider (among other things) (i) the obligations of the Mortgagor under the terms of the related Mortgage Loan or Companion
Loan, as applicable, as it may have been modified and (ii) the related Mortgaged Properties in their “as-is” or then
current conditions and occupancies, as modified by such party’s assumptions (consistent with the Servicing Standard in the
case of the Master Servicer or the applicable Special Servicer or in its good faith business judgment in the case of the Trustee,
solely in its capacity as Trustee) regarding the

 

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possibility and effects of future adverse change with respect to such Mortgaged
Properties, (b) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer or the applicable
Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among
other things) future expenses (c) to estimate and consider (consistent with the Servicing Standard in the case of the Master Servicer
and the Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee)
(among other things) the timing of recoveries and (d) to give due regard to the existence of any Nonrecoverable Advances which,
at the time of such consideration, the recovery of which are being deferred or delayed by the Master Servicer or the Trustee,
in light of the fact that related proceeds are a source of recovery not only for the Advance under consideration but also a potential
source of recovery for such delayed or deferred Advance. In addition, any Person, in considering whether a Property Protection
Advance is a Nonrecoverable Property Protection Advance, will be entitled to give due regard to the existence of any Nonrecoverable
Advance or Workout-Delayed Reimbursement Amounts with respect to other Mortgage Loans that, at the time of such consideration,
the reimbursement of which is being deferred or delayed by the Master Servicer, in light of the fact that proceeds on the related
Mortgage Loan are a source of recovery not only for the Property Protection Advance under consideration, but also as a potential
source of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement Amounts which are or may be being deferred
or delayed. However, if the Workout-Delayed Reimbursement Amount relates to a Property Protection Advance for the AMA Plaza Whole
Loan or the 225 Bush Street Whole Loan, the Master Servicer will be entitled to recover such Workout-Delayed Reimbursement Amount
from general collections on deposit in the Collection Account for the Mortgage Pool including the related Trust Subordinate Companion
Loan. In addition, any such Person may update or change its recoverability determinations at any time (but not reverse any other
Person’s determination that an Advance is a Nonrecoverable Advance) and, consistent with the Servicing Standard, in the
case of the Master Servicer or in its good faith business judgment in the case of the Trustee (solely in its capacity as Trustee),
may obtain, promptly upon request from the applicable Special Servicer at the expense of the Trust any reasonably required analysis,
Appraisals or market value estimates or other information for making a recoverability determination (and, upon the reasonable
request by the Trustee, Master Servicer or Special Servicer, as applicable, the Master Servicer and the Special Servicer shall
deliver any relevant Appraisals or market value estimates in its possession to the requesting party for such purpose). Absent
bad faith, the Master Servicer’s, Special Servicer’s or the Trustee’s determination as to the recoverability
of any Property Protection Advance shall be conclusive and binding on the Certificateholders. The determination by the Master
Servicer, the applicable Special Servicer or the Trustee, as the case may be, that it has made a Nonrecoverable Property Protection
Advance or that any proposed Property Protection Advance, if made, would constitute a Nonrecoverable Property Protection Advance,
or any updated or changed recoverability determination, shall be evidenced by an Officer’s Certificate delivered by either
of the applicable Special Servicer or Master Servicer to the other and to the Trustee, the Certificate Administrator, the Controlling
Class Representative, (but only prior to the occurrence of a Consultation Termination Event and only with respect to any Mortgage
Loan other than an Excluded Loan) (and in the case of a Serviced Mortgage Loan, any Other Servicer), the Operating Advisor (but
only in the case of the applicable Special Servicer) and the Depositor, or by the Trustee to the Depositor, the Master Servicer,
the applicable Special Servicer, the Operating Advisor and the Certificate Administrator (and in the

 

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case of a Serviced Mortgage
Loan, any Other Servicer). The applicable Special Servicer may, at its option, make a determination in accordance with the Servicing
Standard, that any Property Protection Advance previously made or proposed to be made is a Nonrecoverable Property Protection
Advance and shall deliver to the Master Servicer (and with respect to a Serviced Whole Loan, to any Other Servicer, and, with
respect to any Non-Serviced Mortgage Loan, the related Non-Serviced Master Servicer), the Trustee, the Certificate Administrator,
the Operating Advisor and the 17g-5 Information Provider notice of such determination. Any such determination shall be binding
upon, the Master Servicer and the Trustee, provided, however, that no Special Servicer shall have any obligation
to make an affirmative determination that any Property Protection Advance is or would be recoverable; however, if a Special Servicer
makes any such determination, such determination shall not be binding upon the Master Servicer or the Trustee. In the absence
of a determination by the applicable Special Servicer that such Property Protection Advance is or would be a Nonrecoverable Property
Protection Advance, such decision shall remain with the Master Servicer or the Trustee, as applicable. If the applicable Special
Servicer makes a determination that only a portion, and not all, of any previously made or proposed Property Protection Advance
is a Nonrecoverable Property Protection Advance, the Master Servicer and the Trustee shall each have the right to make its own
subsequent determination that any remaining portion of any such previously made or proposed Property Protection Advance is a Nonrecoverable
Property Protection Advance. The Officer’s Certificate shall set forth such determination of nonrecoverability and the considerations
of the Master Servicer, the applicable Special Servicer or the Trustee, as applicable, forming the basis of such determination
(which shall be accompanied by, to the extent available, related income and expense statements, rent rolls, occupancy status and
property inspections, and shall include any existing Appraisal with respect to the related Mortgage Loan or Serviced Companion
Loan, as applicable, or related Mortgaged Property). The applicable Special Servicer shall promptly furnish any party required
to make Property Protection Advances hereunder with any information in its possession regarding the Specially Serviced Mortgage
Loans and REO Properties as such party required to make Property Protection Advances may reasonably request for purposes of making
recoverability determinations. The Trustee shall be entitled to conclusively rely on the Master Servicer’s or the applicable
Special Servicer’s, as the case may be, determination that a Property Protection Advance is or would be nonrecoverable,
and the Master Servicer shall be entitled to conclusively rely on the applicable Special Servicer’s determination that a
Property Protection Advance is or would be nonrecoverable. Notwithstanding anything herein to the contrary, if the applicable
Special Servicer requests that the Master Servicer make a Property Protection Advance, the Master Servicer may conclusively rely
on such request as evidence that such advance is not a Nonrecoverable Property Protection Advance; provided, however,
that such Special Servicer shall not be entitled to make such a request more frequently than once per calendar month with respect
to Property Protection Advances other than emergency advances (although such request may relate to more than one Property Protection
Advance). In the case of a cross-collateralized Mortgage Loan (if any), such recoverability determination shall take into account
the cross-collateralization of the related cross-collateralized Mortgage Loan. The determination as to the recoverability of any
property protection advance previously made or proposed to be made in respect of a Non-Serviced Whole Loan shall be made by the
related Non-Serviced Master Servicer, Non-Serviced Special Servicer or Non-Serviced Trustee, as the case may be, pursuant to the
Non-Serviced Pooling Agreement.

 

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“Non-Reduced
Certificates”: means (i) any Class of Pooled Non-Reduced Certificates, (ii) any Class of AMA Plaza Loan-Specific Certificates
(other than the Class X-AMA Certificates) then-outstanding for which (a)(1) the initial Certificate Balance of such Class of Certificates
minus (2) the sum (without duplication) of (x) any payments of principal (whether as Principal Prepayments or otherwise) distributed
to the Certificateholders of such Class of Certificates, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates
and (z) any AMA Plaza Realized Losses previously allocated to each related Class of Certificates, is equal to or greater than
(b) 25% of the remainder of (1) the initial Certificate Balance of such Class of Certificates less (2) any payments of principal
(whether as Principal Prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates,
and (iii) any Class of 225 Bush Street Loan-Specific Certificates (other than the Class X-225 Certificates) then-outstanding for
which (a)(1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) any
payments of principal (whether as Principal Prepayments or otherwise) distributed to the Certificateholders of such Class of Certificates,
(y) any Appraisal Reduction Amounts allocated to such Class of Certificates and (z) any 225 Bush Street Realized Losses previously
allocated to each related Class of Certificates, is equal to or greater than (b) 25% of the remainder of (1) the initial Certificate
Balance of such Class of Certificates less (2) any payments of principal (whether as Principal Prepayments or otherwise) previously
distributed to the Certificateholders of such Class of Certificates.

 

“Non-Registered
Certificate”: Unless and until registered under the Securities Act, any Class D, Class X-D, Class E, Class F, Class
G, Class AMA-A, Class AMA-B, Class AMA-C, Class AMA-D, Class X-AMA, Class 225-A, Class 225-B, Class 225-C, Class 225-D, Class
225-E, Class X-225 and Class R Certificate.

 

“Non-Serviced
Asset Representations Reviewer”: The “Asset Representations Reviewer” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Certificate Administrator”: The “Certificate Administrator” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Companion Loan”: The U.S. Industrial Portfolio Pari Passu Companion Loans, the 540 West Madison Pari Passu Companion
Loan, the 540 West Madison Subordinate Companion Loans, the Hamilton Place Pari Passu Companion Loan, the Embassy Suites Portland
Airport Pari Passu Companion Loan and the Residence Inn and SpringHill Suites North Shore Subordinate Companion Loan.

 

“Non-Serviced
Custodian”: The “Custodian” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Depositor”: The “Depositor” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Gain-on-Sale Proceeds”: Any “gain-on-sale proceeds” received in respect of a Non-Serviced Mortgage Loan
pursuant to the related Non-Serviced Pooling Agreement.

 

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“Non-Serviced
Co-Lender Agreement”: The U.S. Industrial Portfolio Co-Lender Agreement, the 540 West Madison Co-Lender Agreement, the
Hamilton Place Co-Lender Agreement, the Embassy Suites Portland Airport Co-Lender Agreement and the Residence Inn and SpringHill
Suites North Shore Co-Lender Agreement.

 

“Non-Serviced
Master Servicer”: The “Master Servicer” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Mortgage Loan”: The U.S. Industrial Portfolio Mortgage Loan, the 540 West Madison Mortgage Loan, the Hamilton Place
Mortgage Loan, the Embassy Suites Portland Airport Mortgage Loan and the Residence Inn and SpringHill Suites North Shore Mortgage
Loan.

 

“Non-Serviced
Mortgaged Property”: The U.S. Industrial Portfolio Mortgaged Property, the 540 West Madison Mortgaged Property, the
Hamilton Place Mortgaged Property, the Embassy Suites Portland Airport Mortgage Loan and the Residence Inn and SpringHill Suites
North Shore Mortgaged Property.

 

“Non-Serviced
Operating Advisor”: The “Operating Advisor” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Paying Agent”: The “Paying Agent” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Pooling Agreement”: With respect to (i) the U.S. Industrial Portfolio Whole Loan, the 540 West Madison Whole Loan, the
Hamilton Place Whole Loan and the Embassy Suites Portland Airport Whole Loan, the GSMS 2016-GS3 Pooling and Servicing Agreement
and (ii) the Residence Inn and SpringHill Suites North Shore Whole Loan, the GSMS 2016-GS2 Pooling and Servicing Agreement.

 

“Non-Serviced
Special Servicer”: The “Special Servicer” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Securitization”: The securitization under which the Non-Serviced Trust is formed pursuant to the Non-Serviced Pooling
Agreement.

 

“Non-Serviced
Trust”: The “Trust” formed under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Trustee”: The “Trustee” under a Non-Serviced Pooling Agreement.

 

“Non-Serviced
Whole Loan”: The U.S. Industrial Portfolio Whole Loan, the 540 West Madison Whole Loan, the Hamilton Place Whole Loan,
the Embassy Suites Portland Airport Whole Loan and the Residence Inn and SpringHill Suites North Shore Whole Loan.

 

“Non-Serviced
Whole Loan Controlling Holder”: The “directing holder” or similarly defined party under a Non-Serviced Pooling
Agreement.

 

    -103-

     

    

 

“Non-Specially
Serviced Mortgage Loan”: Any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan that
is not a Specially Serviced Mortgage Loan.

 

“Non-Trust Subordinate
Companion Loan”: The AMA Plaza Non-Trust Subordinate Companion Loan.

 

“Non-Trust Subordinate
Companion Loan Control Termination Event”: As defined in the AMA Plaza Co-Lender Agreement under “Note C Holder
Control Appraisal Period”.

 

“Non-U.S. Beneficial
Ownership Certification”: As defined in Section 5.03(f).

 

“Non-U.S. Tax
Person”: Any person other than a U.S. Tax Person.

 

“Notional Amount”:
In the case of the Class X-A Certificates, the Class X-A Notional Amount; in the case of the Class X-B Certificates, the Class
X-B Notional Amount; in the case of the Class X-D Certificates, the Class X-D Notional Amount; in the case of the Class X-AMA Certificates,
the Class X-AMA Notional Amount; and in the case of the Class X-225 Certificates, the Class X-225 Notional Amount.

 

“NRSRO”:
Any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act, including
the Rating Agencies.

 

“NRSRO Certification”:
A certification (a) substantially in the form of Exhibit P-2 executed by a NRSRO or (b) provided electronically and executed by
such NRSRO by means of a “click-through” confirmation on the 17g-5 Information Provider’s Website, in either
case in favor of the 17g-5 Information Provider that states that such NRSRO is a Rating Agency under this Agreement or that such
NRSRO has provided the Depositor with the appropriate certifications pursuant to paragraph (e) of Rule 17g-5 of the Exchange Act,
that such NRSRO has access to the Depositor’s 17g-5 website and that such NRSRO will keep such information confidential,
except to the extent such information has been made available to the general public. Each NRSRO shall be deemed to recertify to
the foregoing each time it accesses the 17g-5 Information Provider’s Website.

 

“OCC”:
Office of the Comptroller of the Currency.

 

“Offered Certificates”:
The Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class C, Class PEZ, Class X-A and Class X-B Certificates.

 

“Officer’s
Certificate”: A certificate signed by a Servicing Officer of the Master Servicer or the applicable Special Servicer or
any Additional Servicer, as the case may be, or a Responsible Officer of the Trustee or Certificate Administrator, as the case
may be.

 

“Offshore Transaction”:
Any “offshore transaction” as defined in Rule 902(h) of Regulation S.

 

    -104-

     

    

 

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

 

“Operating Advisor
Annual Report”: As defined in Section 3.26(c).

 

“Operating Advisor
Consulting Fee”: A fee for each Major Decision on which the Operating Advisor has consulting obligations and performed
its duties with respect to such Major Decision equal to $10,000 (or, for so long as no Consultation Termination Event is continuing,
such lesser amount as the related borrower agrees to pay with respect to such Mortgage Loan) (other than the Non-Serviced Mortgage
Loan), payable pursuant to Section 3.05 of this Agreement; provided, however, that the Operating Advisor
may in its sole discretion reduce the Operating Advisor Consulting Fee with respect to any Major Decision; provided, further,
that the Master Servicer or applicable Special Servicer, as applicable, may waive or reduce the amount of any Operating Advisor
Consulting Fee payable by the related Mortgagor if it determines that such full or partial waiver is in accordance with the Servicing
Standard, but may in no event take any enforcement action with respect to the collection of such Operating Advisor Consulting Fee
other than requests for collection (provided that the Master Servicer or the applicable Special Servicer, as applicable,
shall consult, on a non-binding basis, with the Operating Advisor prior to any such waiver or reduction).

 

“Operating Advisor
Expenses”: With respect to any Distribution Date, an amount equal to any unreimbursed indemnification amounts or additional
trust fund expenses payable to the Operating Advisor pursuant to this Agreement (other than the Operating Advisor Fee and the Operating
Advisor Consulting Fee).

 

“Operating Advisor
Fee”: With respect to each Mortgage Loan, REO Loan, Non-Serviced Mortgage Loan and Trust Subordinate Companion Loan (but
not any other Companion Loan), the fee payable to the Operating Advisor pursuant to Section 3.26(i).

 

“Operating Advisor
Fee Rate”: With respect to each Interest Accrual Period related to any applicable Distribution Date, a per annum
rate of 0.00151%; provided, that at any time there is no Operating Advisor, the Operating Advisor Fee Rate shall be zero.

 

“Operating Advisor
Standard”: The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best interest
of, and for the benefit of, the Certificateholders and, with respect to any Serviced Whole Loan for the benefit of the holders
of the related Companion Loan (as a collective whole as if such Certificateholders and Companion Holders constituted a single lender,
taking into account the pari passu nature of any related Pari Passu Companion Loan and the subordinate nature of any related
AB Subordinate Companion Loan), and not to any particular class of Certificateholders (as determined by the Operating Advisor in
the exercise of its good faith and reasonable judgment), but without regard to any conflict of interest arising from any relationship
that the Operating Advisor or any of its affiliates may have with any of the underlying Mortgagors, any sponsor, the Mortgage Loan
Seller, the Depositor, the Master Servicer, each Special Servicer, the Asset Representations Reviewer, the Directing Holder or
any of their affiliates.

 

    -105-

     

    

 

“Operating Advisor
Termination Event”: Any of the following events, whether any such event is voluntary or involuntary or is effected by
operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body:

 

(a)          any
failure by the Operating Advisor to observe or perform in any material respect any of its covenants or agreements or the material
breach of any of its representations or warranties under this Agreement, which failure continues unremedied for a period of thirty
(30) days after the date on which written notice of such failure, requiring the same to be remedied, is given to the Operating
Advisor by any party to this Agreement or to the Operating Advisor, the Certificate Administrator and the Trustee by the holders
of Certificates having greater than 25% of the aggregate Voting Rights, provided that any such failure which is not curable within
such thirty (30) day period, the Operating Advisor will have an additional cure period of thirty (30) days to effect such cure
so long as it has commenced to cure such failure within the initial thirty (30) day period and has provided the Trustee and the
Certificate Administrator with an officer’s certificate certifying that it has diligently pursued, and is continuing to pursue,
such cure;

 

(b)          any
failure by the Operating Advisor to perform in accordance with the Operating Advisor Standard which failure continues unremedied
for a period of thirty (30) days after the date on which written notice of such failure, requiring the same to be remedied, is
given to the Operating Advisor by any party to this Agreement;

 

(c)          any
failure by the Operating Advisor to be an Eligible Operating Advisor, which failure continues unremedied for a period of thirty
(30) days after the date on which written notice of such failure, requiring the same to be remedied, is given to the Operating
Advisor by any party to this Agreement;

 

(d)          a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding
up or liquidation of its affairs, shall have been entered against the operating advisor, and such decree or order shall have remained
in force undischarged or unstayed for a period of sixty (60) days;

 

(e)          the
Operating Advisor consents to the appointment of a conservator or receiver or liquidator or liquidation committee in any insolvency,
readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of or relating to the
operating advisor or of or relating to all or substantially all of its property; or

 

(f)          the
Operating Advisor admits in writing its inability to pay its debts generally as they become due, files a petition to take advantage
of any applicable insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily suspends
payment of its obligations.

 

    -106-

     

    

 

“Opinion of
Counsel”: A written opinion of counsel, who may, without limitation, be salaried counsel for the Depositor, the Master
Servicer, a Special Servicer, the Operating Advisor or the Asset Representations Reviewer, acceptable in form and delivered to
the Trustee and the Certificate Administrator, except that any opinion of counsel relating to (a) the qualification of any
Trust REMIC as a REMIC, (b) compliance with the REMIC Provisions, (c) the qualification of the Grantor Trust as a grantor
trust, or (d) the resignation of the Master Servicer, any Special Servicer or the Depositor pursuant to Section 6.05,
must be an opinion of counsel who is in fact Independent of the Depositor, the Master Servicer, such Special Servicer, the Operating
Advisor and the Asset Representations Reviewer.

 

“Original Certificate
Balance”: With respect to any Class of Principal Balance Certificates, the initial aggregate principal amount thereof
as of the Closing Date, in each case as specified in the Preliminary Statement.

 

“Original Lower-Tier
Principal Amount”: With respect to any Class of Lower-Tier Regular Interest or Trust Subordinate Companion Loan Regular
Interest, the initial principal amount thereof as of the Closing Date, in each case as specified in the Preliminary Statement.

 

“Original Notional
Amount”: With respect to the Class X-A Notional Amount, the Class X-B Notional Amount, the Class X-D Notional Amount,
the Class X-AMA Notional Amount and the Class X-225 Notional Amount, the applicable initial Notional Amount thereof as of the Closing
Date, as specified in the Preliminary Statement.

 

“Other Certificate
Administrator”: Any certificate administrator under an Other Pooling and Servicing Agreement.

 

“Other Depositor”:
Any depositor under an Other Pooling and Servicing Agreement.

 

“Other Master
Servicer”: Any master servicer under an Other Pooling and Servicing Agreement.

 

“Other Pooling
and Servicing Agreement”: Any pooling and servicing agreement that creates a trust whose assets include any Serviced
Companion Loan.

 

“Other Securitization”:
As defined in Section 11.06.

 

“Other Securitization
Trust”: Any “issuing entity” (within the meaning of Item 1101(f) of Regulation AB) that holds a Serviced
Companion Loan or REO Property (or any portion thereof or interest therein), as identified in writing to the parties to this Agreement.

 

“Other Servicer”:
Any master servicer or special servicer, as applicable, under an Other Pooling and Servicing Agreement.

 

“Other Trustee”:
Any trustee under an Other Pooling and Servicing Agreement.

 

    -107-

     

    

 

“Overlapping
Fee Interest”: In the case of a Mortgage Loan secured in whole or in part by a Ground Lease, the related fee interest
in the real property underlying such Ground Lease that has also been pledged to secure such Mortgage Loan.

 

“Ownership Interest”:
As to any Certificate, any ownership or security interest in such Certificate as the Holder thereof and any other interest therein,
whether direct or indirect, legal or beneficial, as owner or as pledgee.

 

“Pari Passu
Companion Loan”: Each of the AMA Plaza Pari Passu Companion Loan, the 225 Bush Street Pari Passu Companion Loan, the
U.S. Industrial Portfolio Pari Passu Companion Loans, the Simon Premium Outlets Pari Passu Companion Loan, the 540 West Madison
Pari Passu Companion Loan, the Hamilton Place Pari Passu Companion Loan, Embassy Suites Portland Airport Pari Passu Companion Loan,
and the Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans.

 

“P&I Advance”:
As to any Mortgage Loan, Trust Subordinate Companion Loan or REO Loan (but not any related Companion Loan), any advance
made by the Master Servicer or the Trustee, as applicable, pursuant to Section 4.03 or Section 7.05.

 

“P&I Advance
Determination Date”: With respect to any Distribution Date, the close of business on the related Determination Date.

 

“Pass-Through
Rate”: Any of the Class A-1 Pass-Through Rate, the Class A-2 Pass-Through Rate, the Class A-3 Pass-Through Rate, the
Class A-4 Pass-Through Rate, the Class A-AB Pass-Through Rate, the Class A-S Pass-Through Rate, the Class A-S Regular Interest
Pass-Through Rate, the Class B Pass-Through Rate, the Class B Regular Interest Pass-Through Rate, the Class C Pass-Through Rate,
the Class C Regular Interest Pass-Through Rate, the Class D Pass-Through Rate, the Class E Pass-Through Rate, the Class F Pass-Through
Rate, the Class G Pass-Through Rate, the Class X-A Pass-Through Rate, the Class X-B Pass-Through Rate, the Class X-D Pass-Through
Rate, the Class AMA-A Pass-Through Rate, the Class AMA-B Pass-Through Rate, the Class AMA-C Pass-Through Rate, the Class AMA-D
Pass-Through Rate, the Class X-AMA Pass-Through Rate, the Class 225-A Pass-Through Rate, the Class 225-B Pass-Through Rate, the
Class 225-C Pass-Through Rate, the Class 225-D Pass-Through Rate, the Class 225-E Pass-Through Rate and the Class X-225 Pass-Through
Rate.

 

“PCAOB”:
The Public Company Accounting Oversight Board.

 

“Penalty Charges”:
With respect to any Mortgage Loan (other than the Non-Serviced Mortgage Loan) or Serviced Companion Loan (or any successor REO
Loan), any amounts actually collected thereon (or, in the case of a Serviced Companion Loan (or any successor REO Loan thereto)
that is part of a Serviced Whole Loan, actually collected on such Serviced Whole Loan, and allocated and paid on such Serviced
Companion Loan (or any successor REO Loan) in accordance with the related Co-Lender Agreement) that represent late payment charges
or Default Interest, other than a Yield Maintenance Charge or any Excess Interest.

 

“Percentage
Interest”: As to any Certificate (other than a Class S or Class R Certificates), the percentage interest evidenced thereby
in distributions required to be made with

 

    -108-

     

    

 

respect to the related Class. With respect to any Certificate (other than the Class R
Certificates), the percentage interest is equal to the Denomination of such Certificate divided by the Original Certificate Balance
or Original Notional Amount, as applicable, of such Class of Certificates as of the Closing Date. For these purposes on any date
of determination, the “Denomination as of the Closing Date” of any Exchangeable Certificate received in an exchange
will be determined as if such Certificate was part of the related Class on the Closing Date, the “Denomination as of the
Closing Date” of any Exchangeable Certificate surrendered in an exchange will be determined as if such Certificate was not
part of the related Class on the Closing Date and the Original Certificate Balance of the related Class of Exchangeable Certificates
will be determined as if such Class consisted only of the Certificates composing the Class on that date of determination and such
Certificates had been outstanding as of the Closing Date. With respect to a Class R Certificate, the Percentage Interest is set
forth on the face thereof.

 

“Performance
Certification”: As defined in Section 11.06.

 

“Performing
Party”: As defined in Section 11.12.

 

“Periodic Payment”:
With respect to any Mortgage Loan or the related Companion Loan, the scheduled monthly payment of principal and/or interest (other
than any Excess Interest) on such Mortgage Loan or Companion Loan, including any Balloon Payment, which is payable (as the terms
of the applicable Mortgage Loan or Companion Loan may be changed or modified in connection with a bankruptcy or similar proceedings
involving the related Mortgagor or by reason of a modification, extension, waiver or amendment granted or agreed to pursuant to
the terms hereof) by a Mortgagor from time to time under the related Mortgage Note and applicable law, without regard to any acceleration
of principal of such Mortgage Loan or Companion Loan by reason of default thereunder and without regard to any Excess Interest.

 

“Permitted Investments”:
Any one or more of the following obligations or securities (including obligations or securities of the Certificate Administrator,
or managed by the Certificate Administrator or any Affiliate of the Certificate Administrator, if otherwise qualifying hereunder),
regardless of whether issued by the Depositor, the Master Servicer, the applicable Special Servicer, the Trustee, the Certificate
Administrator, or any of their respective Affiliates and having the required ratings, if any, provided for in this definition and
which shall not be subject to liquidation prior to maturity:

 

(i)          direct
obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States of America,
Fannie Mae, Freddie Mac or any agency or instrumentality of the United States of America, the obligations of which are backed by
the full faith and credit of the United States of America that mature in one (1) year or less from the date of acquisition; provided
that any obligation of, or guarantee by, any agency or instrumentality of the United States of America shall be a Permitted Investment
only if such investment would not result in the downgrading, withdrawal or qualification of the then-current rating assigned by
each Rating Agency to any Certificate (or, insofar as there is then outstanding any class of Serviced Companion Loan Securities
that are then rated by such rating agency, such class of securities) as evidenced in

 

    -109-

     

    

 

writing, other than (a) unsecured senior debt
obligations of the U.S. Treasury (direct or fully funded obligations), U.S. Department of Housing and Urban Development public
housing agency bonds, Federal Housing Administration debentures, Government National Mortgage Association guaranteed mortgage-backed
securities or participation certificates, RefCorp debt obligations and SBA-guaranteed participation certificates and guaranteed
pool certificates and (b) Farm Credit System consolidated systemwide bonds and notes, Federal Home Loan Banks’ consolidated
debt obligations, Freddie Mac debt obligations, and Fannie Mae debt obligations rated at least “A-1” by S&P, if
such obligations mature in sixty (60) days or less, or rated at least “AA-”, “A-1+” or (with respect to
money market fund investments only) “AAAm” by S&P, if such obligations mature in 365 days or less;

 

(ii)          time
deposits, unsecured certificates of deposit, or bankers’ acceptances that mature in one (1) year or less after the date of
issuance and are issued or held by any depository institution or trust company (including the Trustee) incorporated or organized
under the laws of the United States of America or any State thereof and subject to supervision and examination by federal or state
banking authorities (A) in the case of such investments with maturities of thirty (30) days or less, (1) the short-term debt
obligations of which are rated in the highest short-term rating category by KBRA (if then rated by KBRA), (2) the short-term
debt obligations of which are rated at least “F1” by Fitch and in the highest short-term rating category by Moody’s
or the long-term debt obligations of which are rated at least “A” by Fitch and “A2” by Moody’s and
(3) the short-term debt obligations of which are rated “A-1+” (or the equivalent) by S&P, (B) in the case of such
investments with maturities of 3 months or less, but more than 30 days, the short-term obligations of which are rated at least
“F1+” by Fitch and in the highest short-term rating category by Moody’s and the long-term obligations of which
are rated at least “AA-” by Fitch and “A1” by Moody’s, (C) in the case of such investments with maturities
of 6 months or less, but more than 3 months, the short-term obligations of which are rated at least “F1+” by Fitch
and in the highest short-term rating category by Moody’s and the long-term obligations of which are rated at least “AA-”
by Fitch, “Aa3” by Moody’s and “AAA” or the equivalent by S&P, and (D) in the case of such investments
with maturities of more than 6 months, the short-term obligations of which are rated in the highest short-term rating category
by each Rating Agency and the long-term obligations of which are rated at least “AA-” by Fitch, “Aaa” by
Moody’s and “AAA” or the equivalent by S&P (or, in the case of any such Rating Agency as set forth in clauses
(A) through (D) above, if permitted by the related Mortgage Loan, such lower rating as is otherwise acceptable to such Rating Agency,
as confirmed in a Rating Agency Confirmation;

 

(iii)          repurchase
agreements or obligations with respect to any security described in clause (i) above where such security has a remaining
maturity of one year or less and where such repurchase obligation has been entered into with a depository institution or trust
company (acting as principal) described in clause (ii) above;

 

    -110-

     

    

 

(iv)          debt
obligations bearing interest or sold at a discount issued by any corporation incorporated under the laws of the United States of
America or any state thereof which mature in one (1) year or less from the date of acquisition, (A) if it has a term of three
months or less, (1) the short-term obligations of which are rated in the highest short-term debt rating category of Fitch
and (2) the short-term obligations of which are rated in the highest short-term rating category by Moody’s or the long-term
obligations of which are rated at least “A2” by Moody’s, (B) if it has a term of more than three months
and not in excess of six months, the short-term obligations of which are rated in the highest short-term rating category by each
Rating Agency and the long-term obligations of which are rated at least “Aa3” by Moody’s and (C) if it has
a term of more than six months, the short-term obligations of which are rated in the highest short-term rating category by each
Rating Agency and the long-term obligations of which are rated at least “Aaa” by Moody’s (or, in the case of
any such Rating Agency as set forth in clauses (A) through (C) above, such lower rating as is the subject of
a Rating Agency Confirmation by such Rating Agency); provided, however, that securities issued by any particular
corporation will not be Permitted Investments to the extent that investment therein will cause the then outstanding principal amount
of securities issued by such corporation and held in the accounts established hereunder to exceed 10% of the sum of the aggregate
principal balance and the aggregate principal amount of all Permitted Investments in such accounts;

 

(v)          commercial
paper (including both non-interest bearing discount obligations and interest bearing obligations payable on demand or on a specified
date not more than one year after the date of issuance thereof), (A) if it has a term of one month or less, the short-term obligations
of which are rated at least “A-1+” by S&P, “F1” by Fitch and “P-1” by Moody’s (or,
in the case of Moody’s, the long-term obligations of which are rated at least “A2” by Moody’s) and in the
highest short term debt rating category of KBRA, if then rated by KBRA; (B) if it has a term of more than one month and not in
excess of three months, (1) the short-term debt obligations of which are rated at least “F1+” by Fitch (or “F1”
by Fitch, if the long-term debt obligations of which are rated at least “AA-” by Fitch), (2) the short-term debt obligations
of which are rated at least “P-1” by Moody’s, or the long-term obligations of which are rated at least “A2”
by Moody’s (3) the short-term debt obligations of which are rated in the highest short-term debt rating category by KBRA,
if then rated by KBRA, and (4) the short-term obligations of which are rated at least “AA-” by S&P (or “AA”
by S&P if the obligations mature within 60 days); (C) if it has a term of more than three months and not in excess of six months,
(1) the short-term debt obligations of which are rated at least “F1+” by Fitch (or “F1” by Fitch, if the
long-term debt obligations of which are rated at least “AA-” by Fitch), (2) the short-term debt obligations of which
are rated at least “P-1” by Moody’s and the long-term debt obligations of which are rated at least “Aa3”
by Moody’s (3) the short-term debt obligations of which are rated in the highest short-term rating category by KBRA, if then
rated by KBRA and (4) short-term obligations of which are rated at least “A-1+” by S&P; and (D) if it has a term
of more than six months, (1) the short-term debt obligations of which are rated at least “F1+” by Fitch (or “F1”
by Fitch,

 

    -111-

     

    

 

if the long-term debt obligations of which are rated at least “AA-” by Fitch), (2) the short-term debt obligations
of which are rated at least “P-1” by Moody’s and the long-term debt obligations of which are rated at least “Aaa”
by Moody’s, (3) the short-term debt obligations of which are rated in the highest short -term rating category by KBRA, if
then rated by KBRA, and (4) the long-term debt obligations of which are rated “AA-” (or the equivalent) by S&P
(or, in the case of any such Rating Agency as set forth in clauses (A) through (D) above, if permitted by the related Mortgage
Loan, such lower rating as is otherwise acceptable to such Rating Agency, as confirmed in a Rating Agency Confirmation; provided,
however, that the investments described in this clause must (A) have a predetermined fixed dollar of principal due at maturity
that cannot vary or change, (B) if such investments have a variable rate of interest, such interest rate must be tied to a single
interest rate index plus a fixed spread (if any) and must move proportionately with that index, and (C) such investments must not
be subject to liquidation prior to their maturity;

 

(vi)          money
market funds, rated “AAAm” by S&P and at least “Aaa-mf” by Moody’s (or, if not rated by S&P
or Moody’s, otherwise acceptable to such Rating Agency, as confirmed in a Rating Agency Confirmation relating to the Certificates),
which may include the investments referred to in clause (i) hereof if so qualified that (a) have substantially all of their assets
invested continuously in the types of investments referred to in clause (i) above and (b) have net assets of not less than $5,000,000,000;

 

(vii)          any
other demand, money market or time deposit, obligation, security or investment, but for the failure to satisfy one or more of the
minimum rating(s) set forth in the applicable clause, would be listed in clauses (i) – (vi) above with
respect to which a Rating Agency Confirmation has been obtained from each Rating Agency for which the minimum ratings set forth
in the applicable clause is not satisfied with respect to such demand, money market or time deposit, obligation, security or investment
and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25); and

 

(viii)          any
other demand, money market or time deposit, obligation, security or investment not listed in clauses (i) – (vi)
above with respect to which a Rating Agency Confirmation has been obtained from each and every Rating Agency;

 

provided, however, that with
respect to any Permitted Investment for which a rating by S&P is required as set forth above, such rating must be an unqualified
rating (i.e., one with no qualifying suffix), with the exception of ratings with regulatory indicators, such as the (sf) subscript,
and unsolicited ratings; provided, further, however, that each Permitted Investment qualifies as a “cash
flow investment” pursuant to Section 860G(a)(6) of the Code, and that (a) it

 

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shall have a predetermined fixed dollar
of principal due at maturity that cannot vary or change and (b) any such investment that provides for a variable rate of interest
must have an interest rate that is tied to a single interest rate index plus a fixed spread, if any, and move proportionately with
such index; and provided, further, however, that no such instrument shall be a Permitted Investment if (a)
such instrument evidences the right to receive only interest, (b)  such instrument evidences principal and interest payments
derived from obligations underlying such instrument and the interest payments with respect to such instrument provide a yield to
maturity at the time of acquisition of greater than 120% of the yield to maturity at par of such underlying obligations or (c) 
such instrument may be redeemed at a price below the purchase price; and provided, further, however, that
no amount beneficially owned by any Trust REMIC (even if not yet deposited in the Trust) may be invested in investments (other
than money market funds) treated as equity interests for federal income tax purposes, unless the Master Servicer receives an Opinion
of Counsel, at its own expense, to the effect that such investment will not adversely affect the status of any Trust REMIC as a
REMIC. Permitted Investments may not be purchased at a price in excess of par.

 

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

 

“Permitted Transferee”:
Any Person or any agent thereof other than (a) a Disqualified Organization, (b) any other Person so designated by the Certificate
Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such Person or the Person requesting the transfer)
to the effect that the transfer of an Ownership Interest in any Class R Certificate to such Person will not cause any Trust REMIC
to fail to qualify as a REMIC at any time that the Certificates are outstanding, (c) a Person that is a Disqualified Non-U.S. Tax
Person, (d) any partnership if any of its interests are (or under the partnership agreement are permitted to be) owned, directly
or indirectly (other than through a U.S. corporation), by a Disqualified Non-U.S. Tax Person or (e) a U.S. Tax Person with respect
to whom income from the Class R Certificate is attributable to a foreign permanent establishment or fixed base, within the meaning
of an applicable income tax treaty, of the transferee or any other U.S. Tax Person.

 

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

 

“Plan”:
As defined in Section 5.03(m).

 

“Pooled Available
Funds”: With respect to any Distribution Date, an amount equal to the sum of (without duplication) (which, for the avoidance
of doubt, will not include any amounts received in respect of the Trust Subordinate Companion Loans):

 

(a)          the
aggregate amount of all cash received on the Mortgage Loans (in the case of a Non-Serviced Mortgage Loan, only to the extent received
by the Trust pursuant

 

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to the related Non-Serviced Pooling Agreement and/or the related Non-Serviced Co-Lender Agreement) (including
the portion of Loss of Value Payments deposited into the Collection Account pursuant to Section 3.05(g) of this Agreement)
and any REO Property (including Compensating Interest Payments with respect to the Mortgage Loans required to be deposited by the
Master Servicer pursuant to Section 3.17(a)) on deposit in the Collection Account (in each case, exclusive of any amount
on deposit in or credited to any portion of the Collection Account that is held for the benefit of the Companion Holders or the
holders of the Loan-Specific Certificates), as of the close of business on the related Master Servicer Remittance Date, exclusive
of (without duplication):

 

(i)          all
Periodic Payments paid by the Mortgagors of a Mortgage Loan that are due on a Due Date following the end of the related Collection
Period;

 

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

 

(iii)          (A) all
amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xviii),
inclusive, and (xxi) of Section 3.05(a); (B) all amounts payable or reimbursable to any Person from the
Lower-Tier REMIC Distribution Account pursuant to clauses (ii) through (vii), inclusive, of Section 3.05(b);
and (C) any Net Investment Earnings contained therein;

 

(iv)          with
respect to the Actual/360 Mortgage Loans (other than the Trust Subordinate Companion Loans) and any Distribution Date occurring
in (1) each February or (2) any January in a year that is not a leap year (in each case, unless the related Distribution
Date is the final Distribution Date), an amount equal to one (1) day of interest on the Stated Principal Balance of such Mortgage
Loans as of the Due Date in the month preceding the month in which such Distribution Date occurs at the related Net Mortgage Rate
to the extent such amounts are Withheld Amounts related to the Mortgage Loans;

 

(v)          all
Excess Interest allocable to the Mortgage Loans (which is separately distributed to the Class S Certificates);

 

(vi)          all
Yield Maintenance Charges allocable to the Mortgage Loans;

 

(vii)          all
amounts deposited in the Collection Account in error; and

 

(viii)          any
Penalty Charges allocable to the Mortgage Loans;

 

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(b)          if
and to the extent not already included in clause (a) hereof, the aggregate amount transferred from the REO Accounts
allocable to the Mortgage Loans to the Collection Account for such Distribution Date pursuant to Section 3.14(c);

 

(c)          the
aggregate amount of any Compensating Interest Payments made by the Master Servicer with respect to the Mortgage Loans with respect
to such Distribution Date and P&I Advances made by the Master Servicer or the Trustee, as applicable, with respect to the Mortgage
Loans and the Distribution Date (net of the related Certificate Administrator/Trustee Fee, Operating Advisor Fee, CREFC®
Intellectual Property Royalty License Fee and Asset Representations Reviewer Fee with respect to the Mortgage Loans for which such
P&I Advances are made) pursuant to Section 4.03 or Section 7.05; and

 

(d)          with
respect to each Actual/360 Mortgage Loan (other than a Trust Subordinate Companion Loan) and any Distribution Date occurring in
each March (or February, if the related Distribution Date is the final Distribution Date), the Withheld Amounts related to the
Mortgage Loans remitted to the Lower-Tier REMIC Distribution Account pursuant to Section 3.21(b).

 

Notwithstanding the investment
of funds held in the Collection Account pursuant to Section 3.06, for purposes of calculating the Pooled Available
Funds, the amounts so invested shall be deemed to remain on deposit in such account.

 

“Pooled Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of the applicable Special Servicer
(other than with respect to the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan) pursuant to Section 7.01(d)
(other than as a result of the replacement of the applicable Special Servicer at the recommendation of the Operating Advisor),
the Holders of Certificates evidencing at least 75% of the aggregate Pooled Voting Rights (other than with respect to the termination
of the Asset Representations Reviewer, taking into account the application of Realized Losses and the application of any Appraisal
Reduction Amounts to notionally reduce the Certificate Balance of the Certificates) of all Pooled Principal Balance Certificates
on an aggregate basis.

 

“Pooled Certificates”:
Each of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class C, Class PEZ, Class D, Class E, Class
F, Class G, Class X-A, Class X-B and Class X-D Certificates.

 

“Pooled Certificateholder”:
A Certificateholder of a Pooled Certificate.

 

“Pooled Non-Reduced
Certificates”: means any Class of Pooled Principal Balance Certificates then-outstanding for which (a)(1) the initial
Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) any payments of principal (whether
as Principal Prepayments or otherwise) distributed to the Certificateholders of such Class of Certificates, (y) any Appraisal Reduction
Amounts allocated to such Class of Certificates and (z) any Pooled Realized Losses previously allocated to such Class of Certificates,
is equal to or greater than (b) 25% of the remainder of (1) the initial Certificate Balance of such Class of Certificates less
(2) any payments of principal (whether as Principal Prepayments or otherwise)

 

 

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previously distributed to the Certificateholders
of such Class of Certificates; provided, that for purposes of this definition, the Class A-S Certificates and the Class PEZ Component
A-S will be considered as if they together constitute a single “Class” of Pooled Principal Balance Certificates, the
Class B Certificates and the Class PEZ Component B will be considered as if they together constitute a single “Class”
of Pooled Principal Balance Certificates, the Class C Certificates and the Class PEZ Component C will be considered as if they
together constitute a single “Class” of Pooled Principal Balance Certificates, and the Class PEZ Certificates will
be Pooled Non-Reduced Certificates only with respect to each component thereof that is part of a Class of Pooled Non-Reduced Certificates
determined as described in this proviso.

 

“Pooled Principal
Balance Certificates”: Each of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class
C, Class PEZ, Class D, Class E, Class F and Class G Certificates.

 

“Pooled Realized
Loss”: As defined in Section 4.04(a).

 

“Pooled Voting
Rights”: The portion of the voting rights of all of the Pooled Certificates which is allocated to any Pooled Certificate.
At all times during the term of this Agreement, the Pooled Voting Rights shall be allocated among the various Classes of Pooled
Certificateholders as follows: (i) 1% in the case of the Class X-A, Class X-B and Class X-D Certificates (allocated pro
rata, based upon their respective Notional Amounts as of the date of determination) and (ii) in the case of any Pooled
Principal Balance Certificates, a percentage equal to the product of 99% and a fraction, the numerator of which is equal to the
Certificate Balance (and solely in connection with any vote for purposes of determining whether to remove the applicable Special
Servicer pursuant to Section 7.01(d) or the Operating Advisor pursuant to Section 3.26(j), taking into
account any notional reduction in the Certificate Balance for Appraisal Reduction Amounts allocated to the Pooled Certificates
pursuant to Section 4.05(a) hereof) of such Class, in each case, determined as of the Distribution Date immediately
preceding such time, and the denominator of which is equal to the aggregate Certificate Balance (and solely in connection with
any vote for purposes of determining whether to remove the applicable Special Servicer pursuant to Section 7.01(d)
or the Operating Advisor pursuant to Section 3.26(j), taking into account any notional reduction in the Certificate
Balance for Appraisal Reduction Amounts allocated to the Certificates pursuant to Section 4.05(a) hereof) of the Pooled
Principal Balance Certificates, each determined as of the Distribution Date immediately preceding such time. For purposes of such
allocations, the Class A-S certificates and the Class PEZ Component A will be considered as if they together constitute a single
“Class”, the Class B certificates and the Class PEZ Component B will be considered as if they together constitute a
single “Class”, and the Class C certificates and the Class PEZ Component C will be considered as if they together constitute
a single “Class”. Voting Rights will be allocated to the Class PEZ certificates only with respect to each Class PEZ
Components that is part of a Class of Certificates determined as described in the preceding sentence. The Class R Certificates
will not be entitled to any Voting Rights.

 

“Preliminary
Asset Review Report”: As defined in Section 12.01(b).

 

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

 

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“Prepayment
Assumption”: A “constant prepayment rate” of 0% used for determining the accrual of original issue discount
and market discount, if any, and the amortization premium, if any, on the Certificates for federal income tax purposes.

 

“Prepayment
Interest Excess”: For any Distribution Date and with respect to any Mortgage Loan or Serviced Whole Loan that was subject
to a Principal Prepayment in full or in part during the related Collection Period, which Principal Prepayment was applied to such
Mortgage Loan or Serviced Whole Loan, as applicable, after the related Due Date and prior to the following Determination Date,
the amount of interest (net of the related Servicing Fees and any Excess Interest), to the extent collected from the related Mortgagor
(without regard to any Yield Maintenance Charge actually collected), that would have accrued at a rate per annum equal to
the sum of (x) the related Net Mortgage Rate for such Mortgage Loan or Serviced Whole Loan, as applicable, and (y) the
Certificate Administrator/Trustee Fee Rate, the Operating Advisor Fee Rate, the CREFC® Intellectual Property Royalty
Fee Rate and the Asset Representations Reviewer Fee Rate, on the amount of such Principal Prepayment from such Due Date to, but
not including, the date of such prepayment (or any later date through which interest accrues). Prepayment Interest Excesses (to
the extent not offset by Prepayment Interest Shortfalls or required to be paid as Compensating Interest Payments) collected on
the Mortgage Loans (other than the Non-Serviced Mortgage Loan) and any related Serviced Companion Loan, will be retained by the
Master Servicer as additional servicing compensation.

 

“Prepayment
Interest Shortfall”: For any Distribution Date and with respect to any Mortgage Loan or Serviced Whole Loan that was
subject to a Principal Prepayment in full or in part during the related Collection Period, which Principal Prepayment was applied
to such Mortgage Loan or Serviced Whole Loan (with such prepayment allocated between the related Mortgage Loan and Serviced Companion
Loan in accordance with the related Co-Lender Agreement), as applicable, after the related Determination Date (or, with respect
to each Mortgage Loan or Serviced Companion Loan, as applicable, with a Due Date occurring after the related Determination Date,
the related Due Date) and prior to the following Due Date, the amount of interest (net of the related Servicing Fees and any Excess
Interest), to the extent not collected from the related Mortgagor (without regard to any Yield Maintenance Charge actually collected),
that would have accrued at a rate per annum equal to the sum of (x) the related Net Mortgage Rate for such Mortgage
Loan or Serviced Whole Loan, as applicable, and (y) the Certificate Administrator/Trustee Fee Rate, the Operating Advisor
Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty Fee Rate, on
the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied
to such Mortgage Loan or Serviced Whole Loan, as applicable, and ending on such following Due Date. With respect to any Serviced
AB Whole Loan, any Prepayment Interest Shortfall for any Distribution Date shall be allocated first to the related AB Subordinate
Companion Loan (and, with respect to the (i) AMA Plaza Whole Loan, first, to the Non-Trust Subordinate Companion Loan and then,
to the related Trust Subordinate Companion Loan, and correspondingly to the related Loan-Specific Certificates and (ii) 225 Bush
Street Whole Loan, to the related Trust Subordinate Companion Loan, and correspondingly to the related Loan-Specific Certificates)
and then pro rata to the related Mortgage Loan and any related Pari Passu Companion Loan.

 

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“Primary Collateral”:
With respect to any Crossed Underlying Loan, that portion of the Mortgaged Property designated as directly securing such Crossed
Underlying Loan and excluding any Mortgaged Property as to which the related lien may only be foreclosed upon by exercise of the
cross-collateralization provisions of such Crossed Underlying Loan.

 

“Primary Servicing
Fee”: The monthly fee payable by the Master Servicer solely from the Servicing Fee to each Initial Sub-Servicer, which
monthly fee accrues at the rate per annum specified as such in the Sub-Servicing Agreement with such Initial Sub-Servicer.

 

“Prime Rate”:
The “Prime Rate” as published in the “Money Rates” section of the New York City edition of The Wall
Street Journal (or, if such section or publication is no longer available, such other comparable publication as determined
by the Certificate Administrator in its reasonable discretion) as may be in effect from time to time, or, if the “Prime Rate”
no longer exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable discretion) as may
be in effect from time to time.

 

“Principal Balance
Certificates”: Each of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class C, Class
PEZ, Class D, Class E, Class F, Class G, Class AMA-A, Class AMA-B, Class AMA-C, Class AMA-D, Class 225-A, Class 225-B, Class 225-C,
Class 225-D and Class 225-E Certificates.

 

“Principal Distribution
Amount”: With respect to any Distribution Date and the Principal Balance Certificates, an amount equal to the sum of
the following amounts: (a) the Principal Shortfall for such Distribution Date, (b) the Scheduled Principal Distribution
Amount for such Distribution Date and (c) the Unscheduled Principal Distribution Amount for such Distribution Date; provided
that the Principal Distribution Amount for any Distribution Date shall be reduced, to not less than zero, by the amount of any
reimbursements of (A) Nonrecoverable Advances (including any property protection advance with respect to the Non-Serviced
Mortgage Loan under the related Non-Serviced Pooling Agreement reimbursed out of general collections on the Mortgage Loans), with
interest on such Nonrecoverable Advances at the Reimbursement Rate that are paid or reimbursed from principal collections on the
Mortgage Loans in a period during which such principal collections would have otherwise been included in the Principal Distribution
Amount for such Distribution Date and (B) Workout-Delayed Reimbursement Amounts paid or reimbursed from principal collections
on the Mortgage Loans in a period during which such principal collections would have otherwise been included in the Principal Distribution
Amount for such Distribution Date (provided that, in the case of clauses (A) and (B) above, if any of
the amounts that were reimbursed from principal collections on the Mortgage Loans (including REO Loans) are subsequently recovered
on the related Mortgage Loan (or REO Loan), such recovery will increase the Principal Distribution Amount for the Distribution
Date related to the period in which such recovery occurs).

 

“Principal Prepayment”:
Any payment of principal made by the Mortgagor on a Mortgage Loan or Trust Subordinate Companion Loan that is received in advance
of its scheduled Due Date as a result of such prepayment.

 

“Principal Shortfall”:
For any Distribution Date after the initial Distribution Date with respect to the Mortgage Loans, the amount, if any, by which
(a) the related Principal

 

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Distribution Amount for the preceding Distribution Date, exceeds (b) the aggregate amount actually
distributed on the preceding Distribution Date in respect of such Principal Distribution Amount. The Principal Shortfall for the
initial Distribution Date will be zero.

 

“Privileged
Communications”: Any correspondence between the Directing Holder and a Special Servicer referred to in clause (i)
of the definition of “Privileged Information”.

 

“Privileged
Information”: Any (i) correspondence between the Directing Holder and a Special Servicer related to any Specially
Serviced Mortgage Loan (other than with respect to any Excluded Loan) or the exercise of the Directing Holder’s consent or
consultation rights under this Agreement, (ii) strategically sensitive information (including information contained within
any Asset Status Report) that the applicable Special Servicer has reasonably determined could compromise the Trust’s position
in any ongoing or future negotiations with the related Mortgagor or other interested party and (iii) information subject to attorney-client
privilege. The Master Servicer, each Special Servicer, the Operating Advisor and the Asset Representations Reviewer shall be entitled
to rely on any identification of materials as “attorney-client privileged” without liability for any such reliance
hereunder.

 

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

 

“Privileged
Person”: The Depositor and its designees, the Initial Purchasers, the Underwriters, the Loan-Specific Initial Purchaser,
the Mortgage Loan Seller, the Master Servicer, each Special Servicer (including, for the avoidance of doubt, any Excluded Special
Servicer), the Trustee, the Certificate Administrator, any Additional Servicer designated by the Master Servicer or any Special
Servicer, the Operating Advisor, any Affiliate of the Operating Advisor designated by the Operating Advisor, the Asset Representations
Reviewer, any Companion Holder who provides an Investor Certification, any Person (including the Directing Holder and the Controlling
Class Representative) who provides the Certificate Administrator with an Investor Certification and any NRSRO (including any Rating
Agency) that provides the Certificate Administrator with an NRSRO Certification, which Investor Certification and NRSRO Certification
may be submitted electronically via the Certificate Administrator’s Website; provided, however, that in no
event may a Borrower Party (other than a Borrower Party that is the applicable Special Servicer) be entitled to receive (i) if
such party is the Directing

 

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Holder, any Controlling Class Certificateholder or any AMA Plaza Controlling Class Certificateholder
or any 225 Bush Street Controlling Class Certificateholder, any Excluded Information via the Certificate Administrator’s
Website (unless a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access shall
only be prohibited with respect to the related Excluded Controlling Class Loan(s)), and (ii) if such party is not the Directing
Holder, any Controlling Class Certificateholder or any AMA Plaza Controlling Class Certificateholder or any 225 Bush Street Controlling
Class Certificateholder, any information other than the Distribution Date Statement. In determining whether any Person is an Additional
Servicer or an Affiliate of the Operating Advisor, the Certificate Administrator may rely on direction by the Master Servicer,
any Special Servicer, the Mortgage Loan Seller or the Operating Advisor, as the case may be.

 

Notwithstanding anything
to the contrary in this Agreement, if a Special Servicer obtains knowledge that it is a Borrower Party, such Special Servicer shall
nevertheless be a Privileged Person; provided that such Special Servicer (i) shall not directly or indirectly provide any
information related to any Excluded Special Servicer Loan to (A) the related Borrower Party, (B) any of such Special Servicer’s
employees or personnel or any of its Affiliates involved in the management of any investment in the related Borrower Party or the
related Mortgaged Property or (C) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership interest
in the related Borrower Party, and (ii) shall maintain sufficient internal controls and appropriate policies and procedures in
place in order to comply with the obligations described in clause (i) above; provided, further, that
nothing in this Agreement shall be construed as an obligation of the Master Servicer or the Certificate Administrator to restrict
a Special Servicer’s access to any information on the Master Servicer’s Internet website or the Certificate Administrator’s
Website and in no case shall the Master Servicer or the Certificate Administrator be held liable if the applicable Special Servicer
accesses any Excluded Special Servicer Information relating to the Excluded Special Servicer Loans; provided, further,
however, that any Excluded Controlling Class Holder shall be permitted to reasonably request and obtain in accordance with
Section 4.02(f) of this Agreement any Excluded Information relating to any Excluded Controlling Class Loan with respect
to which such Excluded Controlling Class Holder is not a Borrower Party (if such Excluded Information is not otherwise available
to such Excluded Controlling Class Holder via the Certificate Administrator’s Website on account of it constituting Excluded
Information) from the Master Servicer or the applicable Special Servicer, as the case may be. Notwithstanding any provision to
the contrary herein, neither the Master Servicer nor the Certificate Administrator shall have any obligation to restrict access
by the Special Servicer or any Excluded Special Servicer to any information related to any Excluded Special Servicer Loan.

 

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

 

“Prohibited
Prepayment”: As defined in the definition of Compensating Interest Payments.

 

“Property Protection
Advances”: All customary, reasonable and necessary “out of pocket” costs and expenses (including attorneys’
fees and expenses and fees of real estate brokers) incurred by the Master Servicer, the applicable Special Servicer, Certificate

 

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Administrator, or the Trustee, as applicable, in connection with the servicing and administering of (a) a Mortgage Loan (and
in the case of a Serviced Mortgage Loan, the related Serviced Companion Loan), other than a Non-Serviced Mortgage Loan, in respect
of which a default, delinquency or other unanticipated event has occurred or as to which a default is reasonably foreseeable or
(b) an REO Property, including, in the case of each of clause (a) and clause (b), but not limited
to, (x) the cost of (i) compliance with the Master Servicer’s obligations set forth in Section 3.03(c),
(ii) the preservation, restoration and protection of a Mortgaged Property, (iii) obtaining any Insurance and Condemnation
Proceeds or any Liquidation Proceeds of the nature described in clauses (i) – (vi) of the definition of
“Liquidation Proceeds,” (iv) any enforcement or judicial proceedings with respect to a Mortgaged Property, including
foreclosures and (v) the operation, leasing, management, maintenance and liquidation of any REO Property and (y) any
amount specifically designated herein to be paid as a “Property Protection Advance”. Notwithstanding anything to the
contrary, “Property Protection Advances” shall not include allocable overhead of the Master Servicer or the applicable
Special Servicer, such as costs for office space, office equipment, supplies and related expenses, employee salaries and related
expenses and similar internal costs and expenses or costs and expenses incurred by any such party in connection with its purchase
of a Mortgage Loan or REO Property. None of the Master Servicer, the Special Servicers or the Trustee shall make any Property Protection
Advance in connection with the exercise of any cure rights or purchase rights granted to the holder of a Serviced Companion Loan
under the related Co-Lender Agreement or this Agreement.

 

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

 

“Prospectus”:
The Prospectus, dated November 17, 2016.

 

“PTCE”:
Prohibited Transaction Class Exemption.

 

“Purchase Price”:
With respect to any Mortgage Loan or Trust Subordinate Companion Loan (or any related REO Loan) (including, to the extent required
pursuant to the final paragraph hereof, any related Companion Loan) to be purchased pursuant to (A) Section 6 of the
Mortgage Loan Purchase Agreement by the Mortgage Loan Seller, (B) Section 3.16, or (C) Section 9.01,
a price, without duplication, equal to:

 

(i)          the
outstanding principal balance of such Mortgage Loan or the related Trust Subordinate Companion Loan (or any related REO Loan (excluding
for such purpose, to the extent required pursuant to the final paragraph hereof, the related Companion Loan)) as of the date of
purchase; plus

 

(ii)          all
accrued and unpaid interest on the Mortgage Loan or the related Trust Subordinate Companion Loan (or any related REO Loan (excluding
for such purpose, to the extent required pursuant to the final paragraph hereof, the related Companion Loan)), at the related Mortgage
Rate in effect from time to time (excluding any portion of such interest that represents Default Interest or Excess Interest on
the ARD Loan), to, but not including, the Due Date immediately preceding or coinciding with the Determination Date for the Collection
Period of purchase; plus

 

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(iii)          all
related unreimbursed Property Protection Advances (including any Property Protection Advances and advance interest amounts that
were reimbursed out of general collections on the Mortgage Loans) (or, in the case of any Non-Serviced Mortgage Loan, the pro rata
portion of any comparable amounts allocable to such Mortgage Loan and payable with respect thereto pursuant to the related Co-Lender
Agreement); plus

 

(iv)          all
accrued and unpaid advance interest amounts in respect of related Advances (or, in the case of any Non-Serviced Mortgage Loan,
all comparable amounts with respect to P&I Advances related to such Non-Serviced Mortgage Loan and, with respect to outstanding
Property Protection Advances, the pro rata portion of any comparable amounts payable with respect thereto pursuant to the
related Co-Lender Agreement); plus

 

(v)          any
unpaid Special Servicing Fees, unpaid Asset Representations Reviewer Fees and any other unpaid additional Trust Fund expenses
(which, for the avoidance of doubt, include any unpaid Workout Fees and Liquidation Fees) outstanding or previously incurred
in respect of the related Mortgage Loan or Trust Subordinate Companion Loan (or, in the case of any Non-Serviced Mortgage
Loan, the pro rata portion of any comparable amounts allocable to such Mortgage Loan and payable with respect
thereto pursuant to the related Co-Lender Agreement), and if such Mortgage Loan or Trust Subordinate Companion Loan is being
purchased by a Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement, all expenses incurred or to be incurred
by the Master Servicer, the applicable Special Servicer, the Asset Representations Reviewer, the Depositor, the Certificate
Administrator and the Trustee in respect of the Breach or Material Defect giving rise to the repurchase or substitution
obligation (to the extent not otherwise included in the amount described in clause (iii) above);

 

(vi)          if
the Mortgage Loan Seller repurchases or substitutes for such Mortgage Loan, any related Asset Representations Reviewer Asset Review
Fee to the extent no previously paid by the Mortgage Loan Seller; plus

 

(vii)          
if the Mortgage Loan Seller repurchases or substitutes for such Mortgage Loan more than 90 days following the earlier of the responsible
party’s discovery or receipt of notice of the subject material breach or material document defect, as the case may be, a
Liquidation Fee.

 

Solely with respect to
any Serviced Whole Loan to be sold pursuant to Section 3.16(a)(iii), “Purchase Price” shall mean the amount
calculated in accordance with the preceding sentence in respect of the related Whole Loan, including, for such purposes, the Mortgage
Loan and the related Companion Loan. With respect to any REO Property to be sold pursuant to Section 3.16(b), “Purchase
Price” shall mean the amount calculated in accordance with the preceding sentence in respect of the related REO Loan
(including any related Companion Loan). With respect to any sale pursuant to Section 3.16(a)(ii) or Section 3.16(e)
or for purposes of calculating any Gain-on-Sale Proceeds, the “Purchase Price” shall be allocated between the related
Mortgage Loan and Companion Loan in accordance with, and shall be equal to the amount provided pursuant to, the provisions of the
related Co-Lender Agreement.

 

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Notwithstanding the foregoing, with respect to any repurchase pursuant to subclause (A) and
subclause (C) hereof, the “Purchase Price” shall not include any amounts payable in respect of any related Companion
Loan.

 

“Qualified Institutional
Buyer”: A “qualified institutional buyer” as defined in Rule 144A under the Act.

 

“Qualified Insurer”:
(i) With respect to any Mortgage Loan, Trust Subordinate Companion Loan, REO Loan or REO Property, an insurance company or security
or bonding company qualified to write the related Insurance Policy in the relevant jurisdiction with an insurance financial strength
rating of at least: (a) “A-” by S&P (or, if not rated by S&P, an equivalent rating by (A) at least two NRSROs
(which may include Moody’s, Fitch and/or KBRA) or (B) one NRSRO (which may include Moody’s, Fitch or KBRA) and A.M.
Best Company, Inc.), (b) “A3” by Moody’s (or, if not rated by Moody’s, an equivalent rating by (A) at least
two NRSROs (which may include S&P, Fitch and/or KBRA) or (B) one NRSRO (which may include S&P, Fitch or KBRA) and A.M.
Best Company, Inc.) and (c) “A-” by Fitch (or, if not rated by Fitch, at least “A-” or an equivalent rating
as “A-” by one other nationally recognized insurance rating organization (which may include S&P, Moody’s
or KBRA)) and (ii) with respect to the fidelity bond and errors and omissions insurance policy required to be maintained pursuant
to Section 3.07(c), except as otherwise permitted by Section 3.07(c), an insurance company that has a claims
paying ability (or the obligations which are guaranteed or backed by a company having such claims paying ability) with at least
one of the following ratings: (a) “A3” by Moody’s, (b) “A-“ by S&P, (c) “A-” by Fitch,
(d) “A-:X” by A.M. Best Company, Inc. or (e) “A(low)” by DBRS, or, in the case of clauses (i) or (ii),
any other insurer acceptable to the Rating Agencies, as evidenced by a Rating Agency Confirmation.

 

“Qualified Replacement
Special Servicer”: A replacement special servicer that (i) satisfies all of the eligibility requirements applicable to
the applicable Special Servicer contained in this Agreement, (ii) is not the Operating Advisor, the Asset Representations Reviewer
or an Affiliate of the Operating Advisor or the Asset Representations Reviewer, (iii) is not obligated to pay the Operating Advisor
(x) any fees or otherwise compensate the Operating Advisor in respect of its obligations under this Agreement, and (y) for the
appointment of the successor special servicer or the recommendation by the Operating Advisor for the replacement special servicer
to become a Special Servicer, (iv) is not entitled to receive any compensation from the Operating Advisor other than compensation
that is not material and is unrelated to the Operating Advisor’s recommendation that such party be appointed as the replacement
special servicer, (v) is not entitled to receive any fee from the Operating Advisor for its appointment as successor special servicer,
in each case, unless such fee is expressly approved by 100% of the Certificateholders, (vi) has been appointed and currently services
as a special servicer on a transaction-level basis on a commercial mortgage-backed securitization transaction currently rated by
Moody’s that currently has securities outstanding that are currently rated by Moody’s and for which Moody’s has
not cited servicing concerns of the applicable replacement 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 rating downgrade or withdrawal)
of securities in a commercial mortgage-backed securitization transaction serviced by the applicable replacement special servicer
prior to the time of determination, (vii) currently has a special servicer rating of at least “CSS3” from Fitch, (viii)
is not a special servicer that has been

 

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cited by KBRA as having servicing concerns as the sole or material factor in any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a rating downgrade or withdrawal)
of securities in a transaction serviced by the applicable servicer prior to the time of determination and (ix) the applicable Special
Servicer is included on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer.

 

“Qualified Substitute
Mortgage Loan”: A substitute mortgage loan (other than with respect to the Whole Loans, for which no substitution will
be permitted) replacing a removed Mortgage Loan that must, on the date of substitution: (i) have an outstanding principal
balance, after application of all scheduled payments of principal and interest due during or prior to the month of substitution,
whether or not received, not in excess of the Stated Principal Balance of the removed Mortgage Loan as of the Due Date in the calendar
month during which the substitution occurs; (ii) have a Mortgage Rate not less than the Mortgage Rate of the removed Mortgage
Loan; (iii) have the same Due Date as and Grace Period no longer than that of the removed Mortgage Loan; (iv) accrue
interest on the same basis as the removed Mortgage Loan (for example, on the basis of a 360 day year consisting of twelve 30-day
months); (v) have a remaining term to stated maturity not greater than, and not more than two (2) years less than, the
remaining term to stated maturity of the removed Mortgage Loan; (vi) have a then-current loan-to-value ratio equal to or less
than the lesser of the loan-to-value ratio for the removed Mortgage Loan as of the Closing Date and 75%, in each case using the
“value” for the Mortgaged Property as determined using an Appraisal; (vii) comply (except in a manner that would
not be adverse to the interests of the Certificateholder) as of the date of substitution in all material respects with all of the
representations and warranties set forth in the Mortgage Loan Purchase Agreement; (viii) have an environmental report that
indicates no material adverse environmental conditions with respect to the related Mortgaged Property and which will be delivered
as a part of the related Mortgage File; (ix) have a then-current debt service coverage ratio at least equal to the greater
of the original debt service coverage ratio of the removed Mortgage Loan as of the Closing Date and 1.25x; (x) constitute
a “qualified replacement mortgage” within the meaning of Section 860G(a)(4) of the Code as evidenced by an Opinion
of Counsel (provided at the Mortgage Loan Seller’s expense); (xi) not have a maturity date or an amortization period
that extends to a date that is after the date two (2) years prior to the Rated Final Distribution Date; (xii) have comparable
prepayment restrictions to those of the removed Mortgage Loan; (xiii) not be substituted for a removed Mortgage Loan unless
the Trustee and the Certificate Administrator have received Rating Agency Confirmation from each Rating Agency (the cost, if any,
of obtaining such Rating Agency Confirmation to be paid by the Mortgage Loan Seller); (xiv) have been approved, so long as
a Control Termination Event has not occurred and is not continuing and the affected Mortgage Loan is not an Excluded Loan, by the
Directing Holder; (xv) prohibit defeasance within two (2) years of the Closing Date; (xvi) not be substituted for
a removed Mortgage Loan if it would result in an Adverse REMIC Event or the imposition of tax on any of such REMICs or the issuing
entity other than a tax on income expressly permitted or contemplated to be imposed by the terms of this Agreement, as determined
by an Opinion of Counsel; (xvii) have an engineering report that indicates no material adverse property condition or deferred
maintenance that will be delivered as a part of the related Servicing File; and (xviii) be current in the payment of all scheduled
payments of principal and interest then due. In the event that more than one mortgage loan is substituted for a removed Mortgage
Loan, then the amounts described in clause (i) shall be determined on the basis of aggregate Stated Principal Balances
and each such proposed Qualified Substitute

 

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Mortgage Loan shall individually satisfy each of the requirements specified in clauses (ii)
through (xviii); provided that the rates described in clause (ii) above and the remaining term to stated
maturity referred to in clause (v) above shall be determined on a weighted average basis; provided, further,
that no individual Mortgage Rate (net of the Servicing Fee Rate, the Certificate Administrator/Trustee Fee Rate, the Operating
Advisor Fee Rate and the Asset Representations Reviewer Fee Rate) shall be lower than the highest fixed Pass-Through Rate (and
not based on, or subject to a cap equal to, the Weighted Average Net Mortgage Rate) of any class of Principal Balance Certificates
having a Certificate Balance then outstanding. When a Qualified Substitute Mortgage Loan is substituted for a removed Mortgage
Loan, the Mortgage Loan Seller shall certify that the Qualified Substitute Mortgage Loan meets all of the requirements of the above
definition and shall send such certification to the Trustee, the Certificate Administrator and, prior to the occurrence of a Consultation
Termination Event, the Directing Holder.

 

“RAC No-Response
Scenario”: As defined in Section 3.25(a).

 

“RAC Requesting
Party”: As defined in Section 3.25(a).

 

“Rated Final
Distribution Date”: (a) As to each Class of Offered Certificates, the Distribution Date in November 2049, (b) as
to the AMA Plaza Loan-Specific Certificates, the Distribution Date in October 2031 and (c) as to the 225 Bush Street Loan-Specific
Certificates, the Distribution Date in November 2029.

 

“Rating Agency”:
Each of Moody’s, Fitch, KBRA and S&P or their successors in interest. If no such rating agency nor any successor thereof
remains in existence, “Rating Agency” shall be deemed to refer to such nationally recognized statistical rating agency
or other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the
Certificate Administrator, the applicable Special Servicer and the Master Servicer, and specific ratings of Moody’s, Fitch,
KBRA and S&P) herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Rating Agency
Confirmation”: 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.

 

“Rating Agency
Inquiry”: As defined in Section 4.07(c).

 

“Rating Agency
Q&A Forum and Document Request Tool”: As defined in Section 4.07(c).

 

“Realized Loss”:
The Pooled Realized Loss, the AMA Plaza Realized Losses and/or the 225 Bush Street Realized Loss, as applicable.

 

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“Record Date”:
With respect to any Distribution Date, the last Business Day of the month immediately preceding the month in which Distribution
Date occurs.

 

“Regular Certificates”:
Any of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class D, Class E, Class F, Class G, Class X-A, Class X-B, Class
X-D, Class AMA-A, Class AMA-B, Class AMA-C, Class AMA-D, Class X-AMA, Class 225-A, Class 225-B, Class 225-C, Class 225-D, Class
225-E and Class X-225 Certificates.

 

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

 

“Regulation
AB Companion Loan Securitization”: As defined in Section 11.15(a).

 

“Regulation AB
Servicing Officer”: Any officer or employee of the Master Servicer or any Special Servicer, as applicable, involved in,
or responsible for, the administration and servicing of the Mortgage Loans or Companion Loans, or this Agreement and also, with
respect to a particular matter, any other officer to whom such matter is referred because of such officer’s or employee’s
knowledge of and familiarity with the particular subject, and, in the case of any certification required to be signed by a Servicing
Officer, such an officer or employee whose name and specimen signature appears on a list of servicing officers furnished to the
Trustee and/or the Certificate Administrator by the Master Servicer or the applicable Special Servicer, as applicable, as such
list may from time to time be amended.

 

“Regulation D”:
Regulation D under the Act.

 

“Regulation S”:
Regulation S under the Act.

 

“Regulation S
Book-Entry Certificates”: The Non-Registered Certificates sold to institutions that are non-United States Securities
Persons in Offshore Transactions in reliance on Regulation S and represented by one or more Book-Entry Non-Registered Certificates
deposited with the Certificate Administrator as custodian for the Depository.

 

“Reimbursement
Rate”: The rate per annum applicable to the accrual of interest on Property Protection Advances in accordance
with Section 3.03(d) and P&I Advances in accordance with Section 4.03(d), which rate per annum
shall equal the Prime Rate.

 

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“Related Certificates”,
“Related Lower-Tier Regular Interests” and “Related Trust Subordinate Companion Loan REMIC Regular
Interests”: For each of the following Classes of Certificates, the related Class of Lower-Tier Regular Interests or Trust
Subordinate Companion Loan REMIC Regular Interests, as applicable; and for the following Classes of Lower-Tier Regular Interests
or Trust Subordinate Companion Loan REMIC Regular Interests, as applicable, the related Class of Certificates set forth below:

 

	
        Related
Certificates
	 	
        Related

Lower-Tier Regular Interest or Related 

Trust Subordinate Companion Loan 

REMIC Regular Interest 

	Class A-1 Certificates	 	Class LA1 Uncertificated Interest
	Class A-2 Certificates	 	Class LA2 Uncertificated Interest
	Class A-3 Certificates	 	Class LA3 Uncertificated Interest
	Class A-4 Certificates	 	Class LA4 Uncertificated Interest
	Class A-AB Certificates	 	Class LAAB Uncertificated Interest
	Class A-S Certificates	 	Class LAS Uncertificated Interest
	Class B Certificates	 	Class LB Uncertificated Interest
	Class C Certificates	 	Class LC Uncertificated Interest
	Class D Certificates	 	Class LD Uncertificated Interest
	Class E Certificates	 	Class LE Uncertificated Interest
	Class F Certificates	 	Class LF Uncertificated Interest
	Class G Certificates	 	Class LG Uncertificated Interest
	Class AMA-A Certificates	 	Class LAMAA Uncertificated Interest
	Class AMA-B Certificates	 	Class LAMAB Uncertificated Interest
	Class AMA-C Certificates	 	Class LAMAC Uncertificated Interest
	Class AMA-D Certificates	 	Class LAMAD Uncertificated Interest
	Class 225-A Certificates	 	Class L225A Uncertificated Interest
	Class 225-B Certificates	 	Class L225B Uncertificated Interest
	Class 225-C Certificates	 	Class L225C Uncertificated Interest
	Class 225-D Certificates	 	Class L225D Uncertificated Interest
	Class 225-E Certificates	 	Class L225E Uncertificated Interest

 

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

 

“Relevant Servicing
Criteria”: The Servicing Criteria applicable to a specific party, as set forth on Exhibit AA attached hereto.
For clarification purposes, multiple parties can have responsibility for the same Relevant Servicing Criteria. With respect to
a Servicing Function Participant engaged by the Trustee, the Certificate Administrator, the Master Servicer or the applicable Special
Servicer, the term “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing Criteria applicable
to the Master Servicer, such Special Servicer, the Trustee and/or the Certificate Administrator.

 

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“REMIC”:
A “real estate mortgage investment conduit” as defined in Section 860D of the Code (or any successor thereto).

 

“REMIC Administrator”:
The Certificate Administrator or any REMIC administrator appointed pursuant to Section 10.04.

 

“REMIC Provisions”:
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.

 

“Rents from
Real Property”: With respect to any REO Property, gross income of the character described in Section 856(d) of the
Code.

 

“REO Account”:
A segregated custodial account or accounts created and maintained by (a) with respect to each of the Mortgage Loans other than
the AMA Plaza Mortgage Loan and 225 Bush Street Mortgage Loan, the General Special Servicer pursuant to Section 3.14(b)
on behalf of the Trustee for the benefit of the Certificateholders and with respect to any Serviced Whole Loan or Holders of the
Loan-Specific Certificates, as applicable, for the benefit of the related Serviced Companion Noteholder, which shall initially
be entitled “Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer, on behalf of Wilmington
Trust, National Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities Trust 2016-GS4, Commercial
Mortgage Pass-Through Certificates, Series 2016-GS4, REO Account”, (b) with respect to the AMA Plaza Mortgage Loan, the AMA
Plaza Special Servicer, pursuant to and for the benefit of the Persons specified in Section 3.14(b), which shall be
titled “Wells Fargo Bank, National Association, as Special Servicer, on behalf of Wilmington Trust, National Association,
as Trustee, for the benefit of the registered holders of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4, REO Account” and (c) with respect to the 225 Bush Street Mortgage Loan, the 225 Bush Street
Special Servicer, pursuant to and for the benefit of the Persons specified in Section 3.14(b), which shall be titled
either in the name of (a) “AEGON USA Realty Advisors, LLC, as Special Servicer, on behalf of Wilmington Trust, National Association,
as Trustee, for the benefit of the registered holders of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4, REO Account” or (b) the limited liability company wholly owned by the Trust formed to hold
title to REO property pursuant to Section 3.14. Any such account or accounts shall be an Eligible Account.

 

“REO Acquisition”:
The acquisition for federal income tax purposes of any REO Property pursuant to Section 3.09.

 

“REO Disposition”:
The sale or other disposition of the REO Property pursuant to Section 3.16.

 

“REO Extension”:
As defined in Section 3.14(a).

 

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“REO Loan”:
Each of the Mortgage Loans (and, with respect to any Serviced Whole Loan, the related Companion Loan), deemed for purposes hereof
to be outstanding with respect to each REO Property. Each REO Loan shall be deemed to be outstanding for so long as the applicable
portion of the related REO Property (or beneficial interest therein, in the case of a Non-Serviced Mortgage Loan) remains part
of the Trust Fund and provides for Assumed Scheduled Payments on each Due Date therefor, and otherwise has the same terms and conditions
as its predecessor Mortgage Loan or Companion Loan, if applicable, including, without limitation, with respect to the calculation
of the Mortgage Rate in effect from time to time (such terms and conditions to be applied without regard to the default on such
predecessor Mortgage Loan or Companion Loan, if applicable). Each REO Loan shall be deemed to have an initial outstanding principal
balance and Stated Principal Balance equal to the outstanding principal balance and Stated Principal Balance, respectively, of
its predecessor Mortgage Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition. All amounts due
and owing in respect of the predecessor Mortgage Loan or Companion Loan, if applicable, as of the date of the related REO Acquisition,
including, without limitation, accrued and unpaid interest, shall continue to be due and owing in respect of an REO Loan. All amounts
payable or reimbursable to the Master Servicer, the applicable Special Servicer, the Operating Advisor, the Asset Representations
Reviewer, the Certificate Administrator or the Trustee, as applicable, in respect of the predecessor Mortgage Loan or Companion
Loan, if applicable, as of the date of the related REO Acquisition, including, without limitation, any unpaid Special Servicing
Fees and Servicing Fees, additional Trust Fund expenses and any unreimbursed Advances, together with any interest accrued and payable
to the Master Servicer or the Trustee, as applicable, in respect of such Advances in accordance with Section 3.03(d)
or Section 4.03(d), shall continue to be payable or reimbursable to the Master Servicer, the applicable Special Servicer,
the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator or the Trustee, as applicable, in respect
of an REO Loan. In addition, Unliquidated Advances and Nonrecoverable Advances with respect to such REO Loan, in each case, that
were paid from collections on the related Mortgage Loans and resulted in principal distributed to the Certificateholders being
reduced as a result of the first proviso in the definition of “Principal Distribution Amount” shall be deemed outstanding
until recovered. Notwithstanding anything to the contrary, with respect to each Serviced Whole Loan (other than with respect to
the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan, the related Trust Subordinate Companion Loan), no amounts relating
to the related REO Property or REO Loan allocable to the related Serviced Pari Passu Companion Loan, will be available for amounts
due to the Certificateholders or to reimburse the Trust, other than in the limited circumstances related to Property Protection
Advances, indemnification payments, Special Servicing Fees and other reimbursable expenses related to such Serviced Whole Loan
incurred with respect to such Serviced Whole Loan, in accordance with Section 3.05(a), or with respect to an AB Subordinate
Companion Loan (other than the Trust Subordinate Companion Loan), as set forth in the related Co-Lender Agreement.

 

“REO Property”:
A Mortgaged Property acquired by the applicable Special Servicer on behalf of, and in the name of, the Trustee or a nominee thereof
for the benefit of the Certificateholders (and the related Companion Holder, subject to the related Co-Lender Agreement, with respect
to a Mortgaged Property securing a Serviced Whole Loan) to the extent set forth herein and the Trustee (as holder of the Lower-Tier
Regular Interests) (and also including, if applicable, the Trust’s beneficial interest in a Non-Serviced Mortgaged Property
acquired by the applicable Non-Serviced Special Servicer on behalf of, and in the name of, the

 

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applicable Non-Serviced Trustee
or a nominee thereof for the benefit of the certificateholders under the applicable Non-Serviced Trust) through foreclosure, acceptance
of a deed in lieu of foreclosure or otherwise in accordance with applicable law in connection with the default or imminent default
of a Mortgage Loan or Trust Subordinate Companion Loan. References herein to the applicable Special Servicer acquiring, maintaining,
managing, inspecting, insuring, selling or reporting or to Appraisal Reduction Amounts and Final Recovery Determinations with respect
to an “REO Property”, shall not include the Trust’s beneficial interest in a Non-Serviced Mortgaged Property.
For the avoidance of doubt, REO Property, to the extent allocable to a Companion Loan, shall not be an asset of the Trust Fund,
any Trust REMIC or the Grantor Trust.

 

“REO Revenues”:
All income, rents and profits derived from the ownership, operation or leasing of any REO Property.

 

“Reportable
Event”: As defined in Section 11.07.

 

“Reporting Requirements”:
As defined in Section 11.12.

 

“Reporting Servicer”:
The Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator, the Operating Advisor, the Custodian or
any Servicing Function Participant engaged by such parties, as the case may be.

 

“Repurchase
Communication”: For purposes of Section 2.03(b) of this Agreement only, any communication, whether oral or
written, which need not be in any specific form.

 

“Repurchase
Request”: As defined in Section 2.03(i).

 

“Repurchase
Request Rejection:” As defined in Section 2.03(b) of this Agreement.

 

“Repurchase
Request Withdrawal”: As defined in Section 2.03(b) of this Agreement.

 

“Request for
Release”: A release signed by a Servicing Officer of the Master Servicer or the applicable Special Servicer, as applicable,
in the form of Exhibit E attached hereto.

 

“Requesting
Certificateholder”: As defined in Section 2.03(j)(iii).

 

“Requesting
Holders”: As defined in Section 4.05(b).

 

“Residence Inn
and SpringHill Suites North Shore Co-Lender Agreement”: That certain Amended and Restated Co-Lender Agreement, dated
as of September 1, 2016, by and between the holder of the Residence Inn and SpringHill Suites North Shore Pari Passu Companion
Loans and the holder of the Residence Inn and SpringHill Suites North Shore Mortgage Loan, relating to the relative rights of such
holders of the Residence Inn and SpringHill Suites North Shore Whole Loan, as the same may be further amended in accordance with
the terms thereof.

 

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“Residence Inn
and SpringHill Suites North Shore Mortgage Loan”: With respect to the Residence Inn and SpringHill Suites North Shore
Whole Loan, the Mortgage Loan that is included in the Trust (identified as Mortgage Loan No. 18 on the Mortgage Loan Schedule),
which is designated as promissory note A-2-2, and is pari passu in right of payment with the Residence Inn and SpringHill
Suites North Shore Pari Passu Companion Loan to the extent set forth in the related Co-Lender Agreement.

 

“Residence Inn
and SpringHill Suites North Shore Mortgaged Property”: The Mortgaged Property which secures the Residence Inn and SpringHill
Suites North Shore Whole Loan.

 

“Residence Inn
and SpringHill Suites North Shore Pari Passu Companion Loans”: With respect to the Residence Inn and SpringHill Suites
North Shore Whole Loan, the Companion Loans evidenced by the related promissory notes made by the related Mortgagor and secured
by the Mortgage on the Residence Inn and SpringHill Suites North Shore Mortgaged Property, which is not included in the Trust and
which is pari passu in right of payment to the Residence Inn and SpringHill Suites North Shore Mortgage Loan to the extent
set forth in the related Mortgage Loan documents and as provided in the Residence Inn and SpringHill Suites North Shore Co-Lender
Agreement.

 

“Residence Inn
and SpringHill Suites North Shore Whole Loan”: The Residence Inn and SpringHill Suites North Shore Mortgage Loan, together
with the Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans, each of which is secured by the same Mortgage
on the Residence Inn and SpringHill Suites North Shore Mortgaged Property. References herein to the Residence Inn and SpringHill
Suites North Shore Whole Loan shall be construed to refer to the aggregate indebtedness under the Residence Inn and SpringHill
Suites North Shore Mortgage Loan and the Residence Inn and SpringHill Suites North Shore Pari Passu Companion Loans.

 

“Residual Ownership
Interest”: Any record or beneficial interest in the Class R Certificates.

 

“Resolution
Failure”: As defined in Section 2.03(i)(iii).

 

“Resolved”:
With respect to a Repurchase Request, that (i) the related Material Defect has been cured, (ii) the related Mortgage Loan has been
repurchased in accordance with the Mortgage Loan Purchase Agreement, (iii) a mortgage loan has been substituted for the related
Mortgage Loan in accordance with the Mortgage Loan Purchase Agreement, (iv) the Mortgage Loan Seller has made the Loss of Value
Payment, (v) a contractually binding agreement entered into between the Enforcing Servicer, on behalf of the Trust, and the Mortgage
Loan Seller that settles the Mortgage Loan Seller’s obligations under the Mortgage Loan Purchase Agreement, or (vi) the related
Mortgage Loan is no longer property of the Trust as a result of a sale or other disposition in accordance with this Agreement.

 

“Responsible
Officer”: When used with respect to (i) the Trustee, any officer of the Corporate Trust Office of the Trustee with
direct responsibility for the administration of this Agreement and, with respect to a particular matter, any other officer to whom
such matter is

 

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referred because of such officer’s knowledge of and familiarity with the particular subject and (ii) the
Certificate Administrator, any officer assigned to the Corporate Trust Services group with direct responsibility for the administration
of this Agreement and, with respect to a particular matter, any other officer to whom a particular matter is referred by the Certificate
Administrator because of such officer’s knowledge of and familiarity with the particular subject.

 

“Restricted
Mezzanine Holder”: A holder of a related mezzanine loan that has been accelerated or as to which the mezzanine lender
has initiated foreclosure proceedings or enforcement proceedings against the equity collateral pledged to secure such mezzanine
loan.

 

“Restricted
Period”: The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which Certificates
are first offered to Persons other than the Initial Purchasers, Loan-Specific Initial Purchaser or Underwriters and any other distributor
(as such term is defined in Regulation S) of the Certificates and (b) the Closing Date.

 

“Retained Fee
Rate”: An amount equal to 0.0025% per annum with respect to each Mortgage Loan.

 

“Review Materials”:
As defined in Section 12.01(b).

 

“Review Package”:
A Rating Agency Confirmation request and any supporting documentation delivered therewith.

 

“Revised Rate”:
With respect to any ARD Loan, the increased interest rate after the Anticipated Repayment Date (in the absence of a default) for
such ARD Loan, as calculated and as set forth in the related loan agreement.

 

“Rule 144A”:
Rule 144A under the Act.

 

“Rule 144A
Book-Entry Certificate”: With respect to the Non-Registered Certificates offered and sold in reliance on Rule 144A,
a single, permanent Book-Entry Certificate, in definitive, fully registered form without interest coupons.

 

“S&P”:
S&P Global Ratings acting through Standard & Poor’s Financial Services LLC, and its successors in interest. If neither
S&P nor any successor remains in existence, “S&P” shall be deemed to refer to such other nationally recognized
statistical rating agency or other comparable Person reasonably designated by the Depositor, notice of which designation shall
be given to the Trustee, the Certificate Administrator, the Master Servicer, the Directing Holder and the applicable Special Servicer
and specific ratings of S&P herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Sarbanes-Oxley
Act”: The Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including
any interpretations thereof by the Commission’s staff).

 

“Sarbanes-Oxley
Certification”: As defined in Section 11.05(a)(iv).

 

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“Scheduled Principal
Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the principal portions
of the following: (a) all Periodic Payments (excluding Balloon Payments) with respect to the Mortgage Loans due during or,
if and to the extent not previously received or advanced pursuant to Section 4.03 and distributed to Certificateholders
on a preceding Distribution Date, prior to the related Collection Period and all Assumed Scheduled Payments with respect to the
Mortgage Loans for the related Collection Period, in each case to the extent either (i) paid by the related Mortgagor as of
the related Determination Date (or, with respect to each Mortgage Loan with a Due Date occurring or a Grace Period ending after
the related Determination Date, the related Due Date or last day of such Grace Period, as applicable, to the extent received by
the Master Servicer as of the Business Day preceding the related Master Servicer Remittance Date) or (ii) advanced by the
Master Servicer or the Trustee, as applicable, pursuant to Section 4.03, and (b) all Balloon Payments with respect
to the Mortgage Loans to the extent received on or prior to the related Determination Date (or, with respect to each Mortgage Loan
with a Due Date occurring, or a Grace Period ending, after the related Determination Date, the related Due Date or, last day of
such Grace Period, as applicable, to the extent received by the Master Servicer as of the Business Day preceding the related Master
Servicer Remittance Date), and to the extent not included in clause (a) above.

 

“Secure Data
Room”: The internet website, which shall initially be located within the Certificate Administrator’s Website (initially
“www.ctslink.com”), under the “Diligence Files” tab on the page relating to this transaction.

 

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

 

“Senior Certificate”:
Any Class A Certificate (other than the Class A-S Certificates) or Class X Certificate (other than the Class X-D, Class
X-AMA or Class X-225 Certificates).

 

“Service(s)”
or “Servicing”:  In accordance with Regulation AB, the act of servicing and administering the Mortgage
Loans, the Trust Subordinate Companion Loans or any other assets of the Trust by an entity (other than the Certificate Administrator
and the Trustee) that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is subject
to the disclosure requirements set forth in Item 1108 of Regulation AB.  For clarification purposes, any uncapitalized
occurrence of this term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities
market.

 

“Serviced AB
Whole Loan”: Each of the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan, as applicable.

 

“Serviced Companion
Loan”: Each of (a) the AMA Plaza Pari Passu Companion Loan, (b) the 225 Bush Street Pari Passu Companion Loan, (c) the
Simon Premium Outlets Pari Passu Companion Loan and (d) any AB Subordinate Companion Loan related to a Serviced AB Whole Loan,
as applicable.

 

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“Serviced Companion
Loan Securities”: Any class of securities backed, wholly or partially, by any Serviced Pari Passu Companion Loan.

 

“Serviced Companion
Noteholder”: Each of the holders of (a) the AMA Plaza Pari Passu Companion Loan, (b) the 225 Bush Street Pari Passu Companion
Loan, (c) the Simon Premium Outlets Pari Passu Companion Loan and (d) any AB Subordinate Companion Loan related to a Serviced AB
Whole Loan, as applicable.

 

“Serviced Mortgage
Loan”: Each of (a) the AMA Plaza Mortgage Loan, (b) the 225 Bush Street Mortgage Loan and (c) the Simon Premium Outlets
Mortgage, as applicable.

 

“Serviced Pari
Passu Companion Loan”: Each of (a) the AMA Plaza Pari Passu Companion Loan, (b) the 225 Bush Street Pari Passu Companion
Loan and (c) the Simon Premium Outlets Pari Passu Companion Loan, as applicable.

 

“Serviced Pari
Passu Companion Noteholder”: Each of the holders of (a) the AMA Plaza Pari Passu Companion Loan, (b) the 225 Bush Street
Pari Passu Companion Loan and (c) the Simon Premium Outlets Pari Passu Companion Loan, as applicable.

 

“Serviced Pari
Passu Mortgage Loan”: Each of (a) the AMA Plaza Mortgage Loan, (b) the 225 Bush Street Mortgage Loan and (c) the Simon
Premium Outlets Mortgage Loan, as applicable.

 

“Serviced Pari
Passu Whole Loan”: Each of (a) the AMA Plaza Whole Loan, (b) the 225 Bush Street Whole Loan and (c) the Simon Premium
Outlets Whole Loan, as applicable.

 

“Serviced REO
Loan”:  Any REO Loan that is serviced by the applicable Special Servicer pursuant to this Agreement.

 

 ”Serviced
REO Property”:  Any REO Property that is serviced by the applicable Special Servicer pursuant to this Agreement.

 

“Serviced Securitized
Companion Loan”: Any Companion Loan that is a component of a Serviced Whole Loan, if and for so long as each such Companion
Loan is included in a Regulation AB Companion Loan Securitization.

 

“Serviced Whole
Loan”: Each of (a) the AMA Plaza Whole Loan, (b) the 225 Bush Street Whole Loan and (c) the Simon Premium Outlets Whole
Loan, as applicable.

 

“Serviced Whole
Loan Controlling Holder”: The “Controlling Noteholder” or similar term identified in the Co-Lender Agreement
related to a Serviced Whole Loan.

 

“Serviced Whole
Loan Custodial Account”: With respect to any Serviced Companion Loan, the separate account created and maintained by
the Companion Paying Agent pursuant to Section 3.04(b) and held on behalf of the Companion Holders, which shall be
entitled “Wells Fargo Bank, National Association, as Companion Paying Agent, for the benefit of the Companion Holders of
the Companion Loans, relating to the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, Serviced

 

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Whole Loan Custodial Account”. The Serviced Whole Loan Custodial Account shall not be an asset
of the Trust, any Trust REMIC or the Grantor Trust, but instead shall be held by the Companion Paying Agent on behalf of the Companion
Holders. Any such account shall be an Eligible Account. Notwithstanding the foregoing, if the Master Servicer and the Companion
Paying Agent are the same entity, the Serviced Whole Loan Custodial Account may be the subaccount referenced in the second paragraph
of Section 3.04(b).

 

“Serviced Whole
Loan Remittance Date”: With respect to any Serviced Companion Loan, (x) prior to contribution of such Serviced Companion
Loan to an Other Securitization, a date as set forth in the related Co-Lender Agreement (or if no such date is specified, the Master
Servicer Remittance Date) and (y) following contribution of such Serviced Companion Loan to an Other Securitization, the earlier
of (A) Master Servicer Remittance Date or (B) the Business Day immediately succeeding the “determination date” set
forth in the related Other Pooling and Servicing Agreement, or such earlier date as required by the related Co-Lender Agreement;
provided, however, that unless otherwise required under the related Co-Lender Agreement, no remittance is required to be made until
two (2) Business Days after receipt of the related Periodic Payment with respect to the related Serviced Whole Loan.

 

“Servicer Termination
Event”: One or more of the events described in Section 7.01(a).

 

“Servicing Account”:
The account or accounts created and maintained pursuant to Section 3.03(a).

 

“Servicing Criteria”:
The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from time to time and
which as of the Closing Date are listed on Exhibit AA hereto.

 

“Servicing Fee”:
With respect to each Mortgage Loan (including the Non-Serviced Mortgage Loans), Serviced Companion Loan and any REO Loan, the fee
payable to the Master Servicer pursuant to the first paragraph of Section 3.11(a).

 

“Servicing Fee
Rate”: With respect to each Mortgage Loan (including any Non-Serviced Mortgage Loan), Trust Subordinate Companion
Loan and REO Loan, a per annum rate equal to the sum of the rates set forth on the Mortgage Loan Schedule under the headings
“Servicing Fee Rate (%)” and “Subservicing Fee Rate (%)”, in each case computed on the basis of the Stated
Principal Balance of the related Mortgage Loan, Trust Subordinate Companion Loan or REO Loan in the same manner in which interest
is calculated in respect of such loans. With respect to the AMA Plaza Pari Passu Companion Loan, the “Servicing Fee Rate”
shall be a per annum rate equal to 0.0025%. With respect to the 225 Bush Street Pari Passu Companion Loan, the “Servicing
Fee Rate” shall be a per annum rate equal to 0.0025%. With respect to the Simon Premium Outlets Pari Passu Companion
Loan, the “Servicing Fee Rate” shall be a per annum rate equal to 0.0025% . With respect to any Trust Subordinate
Companion Loan, the “Servicing Fee Rate” shall be a per annum rate equal to 0.005%. With respect to any Non-Trust
Subordinate Companion Loan, the “Servicing Fee Rate” shall be a per annum rate equal to 0.0075%.

 

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“Servicing File”:
A photocopy of all items required to be included in the Mortgage File, together with each of the following, to the extent such
items were actually delivered to the Mortgage Loan Seller, with respect to a Mortgage Loan and Trust Subordinate Companion Loan
and (to the extent that the identified documents existed on or before the Closing Date and the applicable reference to Servicing
File relates to any period after the Closing Date) delivered by the Mortgage Loan Seller, to the Master Servicer: (i) a copy
of any engineering reports or property condition reports; (ii) other than with respect to a hospitality property (except with
respect to tenanted commercial space within a hospitality property), copies of a rent roll and, for any office, retail, industrial
or warehouse property, a copy of all leases and estoppels and subordination and non-disturbance agreements delivered to the Mortgage
Loan Seller; (iii) copies of related financial statements or operating statements; (iv) all legal opinions (excluding
attorney-client communications between the Mortgage Loan Seller, and its counsel that are privileged communications or constitute
legal or other due diligence analyses), Mortgagor’s certificates and certificates of hazard insurance and/or hazard insurance
policies or other applicable insurance policies, if any, delivered in connection with the closing of the related Mortgage Loan;
(v) a copy of the Appraisal for the related Mortgaged Property(ies); (vi) the documents that were delivered by or on
behalf of the Mortgagor, which documents were required to be delivered in connection with the closing of the related Mortgage Loan;
(vii) for any Mortgage Loan that the related Mortgaged Property is leased to a single tenant, a copy of the lease; and (viii) a
copy of all environmental reports that were received by the Mortgage Loan Seller, relating to the relevant Mortgaged Property.

 

“Servicing Function
Participant”: Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Master Servicer,
the Special Servicers, the Trustee, the Operating Advisor, the Asset Representations Reviewer and the Certificate Administrator,
that is performing activities that address the Servicing Criteria, unless (i) such Person’s activities relate only to
5% or less of the Mortgage Loans by unpaid principal balance as of any date of determination in accordance with Article XI
or (ii) the Depositor reasonably determines that a Master Servicer or the applicable Special Servicer may, for the purposes
of the Exchange Act reporting requirements pursuant to applicable Commission guidance, take responsibility for the assessment of
compliance with the Servicing Criteria of such Person. The Servicing Function Participants as of the Closing Date are listed on
Exhibit GG hereto. Exhibit GG shall be updated and provided to the Depositor and the Certificate Administrator
in accordance with Section 11.10(c).

 

“Servicing Officer”:
Any officer and/or employee of the Master Servicer, the Special Servicers or any Additional Servicer involved in, or responsible
for, the administration and servicing of the Mortgage Loans or Serviced Companion Loans, whose name and specimen signature appear
on a list of servicing officers furnished by the Master Servicer, the Special Servicers or any Additional Servicer to the Certificate
Administrator, the Trustee, the Operating Advisor and the Depositor on the Closing Date as such list may be amended from time to
time thereafter.

 

“Servicing Standard”:
As defined in Section 3.01(a).

 

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“Servicing Transfer
Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan, the occurrence
of any of the following events:

 

(i)          (A) with
respect to a Mortgage Loan or Serviced Companion Loan that is not a Balloon Mortgage Loan, (1) a payment default shall have
occurred at its original Maturity Date, or (2) if the original Maturity Date of such Mortgage Loan or Serviced Companion Loan
has been extended as provided herein, a payment default shall have occurred at such extended Maturity Date; or (B) with respect
to each Mortgage Loan or Serviced Companion Loan that is a Balloon Mortgage Loan, the Balloon Payment is delinquent and the related
Mortgagor has not provided the Master Servicer (and the Master Servicer shall promptly forward a copy of such document to the applicable
Special Servicer), within sixty (60) days after the related Maturity Date, with a written and fully executed (subject only to customary
final closing conditions) commitment, letter of intent or otherwise binding application for refinancing or similar document that
is in each case, binding upon an acceptable lender or signed purchase agreement reasonably satisfactory in form and substance to
the Master Servicer (and the Master Servicer shall promptly forward a copy of such document to the applicable Special Servicer),
which provides that such refinancing or purchase will occur within one hundred-twenty (120) days of such related Maturity Date,
provided that the Mortgage Loan and any related Serviced Companion Loan, will become a Specially Serviced Mortgage Loan
immediately if the related Mortgagor fails to diligently pursue such financing or to pay any Assumed Scheduled Payment on the related
Due Date (subject to any applicable Grace Period) at any time before the refinancing or, if such refinancing does not occur, the
related Mortgage Loan and any related Serviced Companion Loan, will become a Specially Serviced Mortgage Loan at the end of such
120-day period (or for such shorter period beyond the date on which that Balloon Payment was due within which the refinancing is
scheduled to occur pursuant to the commitment for refinancing or on which such commitment terminates); or

 

(ii)          the
Master Servicer or applicable Special Servicer (and, in the case of the applicable Special Servicer, with respect to any Mortgage
Loan other than an Excluded Loan and unless a Control Termination Event has occurred and is continuing, with the consent of the
Directing Holder), as applicable, makes a judgment that a payment default is imminent or reasonably foreseeable and is not likely
to be cured by the related Mortgagor within thirty (30) days; or

 

(iii)         the
Master Servicer or the applicable Special Servicer (and, in the case of the applicable Special Servicer, with respect to any Mortgage
Loan other than an Excluded Loan and unless a Control Termination Event has occurred and is continuing, with the consent of the
Directing Holder), as applicable, determines that (i) a default (other than as described in clause (ii) above)
under a Mortgage Loan or related Serviced Companion Loan is imminent or reasonably foreseeable, (ii) such default will materially
impair the value of the corresponding Mortgaged Property as security for the Mortgage Loan and related Serviced Companion Loan

 

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(if any) or otherwise materially adversely affect the interests of Certificateholders (and, with respect to any Serviced Whole
Loan, the interests of the related Serviced Companion Noteholder), as a collective whole (taking into account the subordinate or
pari passu nature of any Serviced Companion Loans), and (iii) the default will continue unremedied for the applicable
cure period under the terms of the Mortgage Loan or related Serviced Companion Loan, as applicable, or, if no cure period is specified
and the default is capable of being cured, for thirty (30) days (provided that such 30-day grace period does not apply to
a default that gives rise to immediate acceleration without application of a grace period under the terms of the Mortgage Loan
or related Serviced Companion Loan, as applicable; provided that any determination that a Servicing Transfer Event has occurred
under this clause (iii) with respect to any Mortgage Loan or related Serviced Companion Loan solely by reason of the
failure (or imminent failure) of the related Mortgagor to maintain or cause to be maintained insurance coverage against damages
or losses arising from acts of terrorism may only be made by the applicable Special Servicer (and with respect to any Mortgage
Loan other than an Excluded Loan, prior to the occurrence and continuance of any Control Termination Event, with the consent of
the Directing Holder); or

 

(iv)         any
Periodic Payment is more than sixty (60) days delinquent; or

 

(v)          a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law, or the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up
or liquidation of its affairs, is entered against the related Mortgagor and such decree or order shall have remained in force and
it has not been stayed or discharged or dismissed within 60 days (or a shorter period if the Master Servicer or the Special Servicer
(and, in the case of the Special Servicer, with the consent of the Controlling Class Representative, unless a Control Termination
Event has occurred and is continuing) determines in accordance with the Servicing Standard that the circumstances warrant that
the related Mortgage Loan or Serviced Whole Loan (or REO Loan) be transferred to special servicing); or

 

(vi)          the
related Mortgagor shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of
debt, marshaling of assets and liabilities or similar proceedings of or relating to such Mortgagor or of or relating to all or
substantially all of its property; or

 

(vii)          the
related Mortgagor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend
payment of its obligations; or

 

(viii)          a
default of which the Master Servicer or the applicable Special Servicer, as applicable, has notice (other than a failure by such
Mortgagor to pay

 

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principal or interest) and which the Master Servicer or applicable Special Servicer (in the case of the applicable
Special Servicer, with respect to any Mortgage Loan other than an Excluded Loan, prior to the occurrence and continuance of any
Control Termination Event, with the consent of the Directing Holder) determines in its good faith reasonable judgment may materially
and adversely affect the interests of the Certificateholders (and, with respect to any Serviced Whole Loan, the interests of the
related Serviced Companion Noteholder), as a collective whole (taking into account the subordinate or pari passu nature
of any Serviced Companion Loans), if applicable, has occurred and remained unremedied for the applicable Grace Period specified
in the related Mortgage Loan or related Serviced Companion Loan documents, other than the failure to maintain terrorism insurance
if such failure constitutes an Acceptable Insurance Default (or if no Grace Period is specified for those defaults which are capable
of cure, thirty (30) days); or

 

(ix)          the
Master Servicer or applicable Special Servicer has received notice of the commencement of foreclosure or foreclosure or proposed
foreclosure or similar proceedings of any lien other than the Mortgage on the related Mortgaged Property;

 

provided that any Mortgage Loan
(excluding any Non-Serviced Mortgage Loan) that is cross-collateralized with a Specially Serviced Mortgage Loan shall be a Specially
Serviced Mortgage Loan so long as such Mortgage Loan is cross-collateralized with a Specially Serviced Mortgage Loan. If any Serviced
Companion Loan becomes a Specially Serviced Mortgage Loan, the related Serviced Mortgage Loan shall also become a Specially Serviced
Mortgage Loan. If any Serviced Mortgage Loan becomes a Specially Serviced Mortgage Loan, the related Serviced Companion Loan shall
also become a Specially Serviced Mortgage Loan. With respect to a Non-Serviced Mortgage Loan, the occurrence of a “Servicing
Transfer Event” shall be as defined in the Non-Serviced Pooling Agreement.

 

“Significant
Obligor”: As defined in Section 11.16.

 

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is fifteen (15) days after the Relevant Distribution Date occurring on or immediately following
the date on which financial statements for such calendar quarter are required to be delivered to the related lender under the related
Mortgage Loan documents. The Depositor, the Master Servicer and the Certificate Administrator acknowledge that in the event the
Mortgaged Property securing the related Serviced Companion Loan is a “significant obligor” (within the meaning of Item
1101(k) of Regulation AB) with respect to an Other Securitization that includes such Serviced Companion Loan, the date on which
quarterly financial statements are required to be delivered to the related lender under the related Mortgage Loan documents is,
with respect to net operating income information, for (A) the AMA Plaza Pari Passu Companion Loan, 45 days following the end
of each fiscal quarter, (B) the 225 Bush Street Pari Passu Companion Loan, 45 days following the end of each fiscal quarter and
(C) the Simon Premium Outlets Pari Passu Companion Loan, 45 days following the end of each fiscal quarter, in each case, subject
to the terms of the related loan agreement; provided that, as provided under the related loan agreement,

 

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the Master Servicer
shall request the related Mortgagor to provide such information in a timely manner as may be required to meet all filing requirements
under Regulation AB.

 

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after the end
of such calendar year.

 

“Similar Law”:
As defined in Section 5.03(m).

 

“Sole Certificateholder”:
Any Certificate Owner, or Certificate Owners acting in unanimity, of a Book-Entry Certificate or a Holder of a Definitive Certificate
holding 100% of the then-outstanding Class E, Class F, Class G, Class AMA-A, Class AMA-B, Class AMA-C, Class AMA-D, Class 225-A,
Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates; provided, however, that the Class A-1, Class
A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class C, Class PEZ and Class D Certificates have been retired and
the Notional Amounts of the Class X-A, Class X-B, Class X-D Certificates have been reduced to zero.

 

“Simon Premium
Outlets Co-Lender Agreement”: That certain Co-Lender Agreement, dated as of November 1, 2016, by and between the holder
of the Simon Premium Outlets Pari Passu Companion Loan and the holder of the Simon Premium Outlets Mortgage Loan, relating to the
relative rights of such holders of the Simon Premium Outlets Whole Loan, as the same may be further amended in accordance with
the terms thereof.

 

“Simon Premium
Outlets Mortgage Loan”: With respect to the Simon Premium Outlets Whole Loan, the Mortgage Loan that is included in the
Trust (identified as Mortgage Loan No. 6 on the Mortgage Loan Schedule), which is designated as promissory note A-1, and is
pari passu in right of payment with the Simon Premium Outlets Pari Passu Companion Loan to the extent set forth in the related
Co-Lender Agreement.

 

“Simon Premium
Outlets Mortgaged Property”: The Mortgaged Property which secures the Simon Premium Outlets Whole Loan.

 

“Simon Premium
Outlets Pari Passu Companion Loan”: With respect to the Simon Premium Outlets Whole Loan, the Companion Loan evidenced
by the related promissory note made by the related Mortgagor and secured by the Mortgage on the Simon Premium Outlets Mortgaged
Property, which is not included in the Trust and which is pari passu in right of payment to the Simon Premium Outlets Mortgage
Loan to the extent set forth in the related Mortgage Loan documents and as provided in the Simon Premium Outlets Co-Lender Agreement.

 

“Simon Premium
Outlets Whole Loan”: The Simon Premium Outlets Mortgage Loan, together with the Simon Premium Outlets Pari Passu Companion
Loan, each of which is secured by the same Mortgage on the Simon Premium Outlets Mortgaged Property. References herein to the Simon
Premium Outlets Whole Loan shall be construed to refer to the aggregate indebtedness under the Simon Premium Outlets Mortgage Loan
and the Simon Premium Outlets Pari Passu Companion Loan.

 

“Special Notice”:
As defined in Section 5.06.

 

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“Special Servicer”:
With respect to (i) each of the Mortgage Loans (other than the AMA Plaza Mortgage Loan, the 225 Bush Street Mortgage Loan, any
Non-Serviced Mortgage Loan and any Excluded Special Servicer Loan) and the Serviced Companion Loans, the General Special Servicer,
and its successors in interest and assigns, or any successor special servicer appointed as herein provided, (ii) the AMA Plaza
Mortgage Loan, any REO Property acquired by the Trust with respect to the AMA Plaza Mortgage Loan and any matters relating to the
foregoing, the AMA Plaza Special Servicer, (iii) the 225 Bush Street Mortgage Loan, any REO Property acquired by the Trust with
respect to the 225 Bush Street Mortgage Loan and any matters relating to the foregoing, the 225 Bush Street Special Servicer and
(iv) any Excluded Special Servicer Loan, if any, the related Excluded Special Servicer appointed pursuant to Section 7.01(g),
as applicable and as the context may require.

 

“Special Servicer
Major Decision”: Any Major Decision under clauses (i) through (xii) of the definition of “Major Decision.”

 

“Special Servicer
Non-Major Decision”: Collectively:

 

(a)          approving
any waiver regarding the receipt of financial statements (other than immaterial timing waivers);

 

(b)          agreeing
to any modification, waiver, consent or amendment of the related Mortgage Loan (other than Non-Serviced Mortgage Loans) or Serviced
Whole Loan in connection with a defeasance if such proposed modification, waiver, consent or amendment is with respect to (i) a
waiver of a Mortgage Loan event of default (but excluding non-monetary events of default other than defaults relating to transfers
of interests in the Mortgagor the existing collateral or material modifications of the existing collateral), (ii) a modification
of the type of defeasance collateral required under the related Mortgage Loan documents such that defeasance collateral other than
direct, non-callable obligations of the United States of America would be permitted or (iii) a modification that would permit a
principal prepayment instead of defeasance if the related Mortgage Loan documents do not otherwise permit such principal prepayment;
provided that the foregoing is not otherwise a Major Decision or another Special Servicer Non-Major Decision;

 

(c)          any
requests in accordance with the Mortgage Loan documents for the funding or disbursement of amounts from any escrow accounts, reserve
funds or letters of credit held, in each case, as “performance”, “earn-out”, “holdback” or
similar escrows or reserves with respect to any of the Mortgage Loans or Serviced Whole Loans, but excluding (subject to clause
(f) below) as to Mortgage Loans or Serviced Whole Loans which are Non-Specially Serviced Mortgage Loans, (A) any routine and/or
customary escrow and reserve fundings or disbursements for which the satisfaction of performance-related criteria or lender discretion
is not required or permitted pursuant to the terms of the related loan documents, (B) any request with respect to a Mortgage Loan
or Serviced Whole Loan that is a Non-Specially Serviced Mortgage Loan for the funding or disbursement of ordinary course impounds,
repair and replacement reserves, lender approved budget and operating expenses, and tenant improvements pursuant to an

 

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approved
lease or (C) any other funding or disbursement as mutually agreed upon by the Master Servicer and Special Servicer;

 

(d)          any
requests for the funding or disbursement of amounts from any escrow accounts, reserve funds or letters of credit in the case of
certain Mortgage Loans whose escrows, reserves, holdbacks and related letters of credit exceed, in the aggregate (but excluding
tax and insurance escrows), at the related origination date, 10% of the initial principal balance of such Mortgage Loan (which
Mortgage Loans are identified on Schedule 3 to this Agreement), except for the routine funding of tax payments and insurance premiums
when due and payable (provided the Mortgage Loan is not a Specially Serviced Mortgage Loan; provided, that the foregoing
is not otherwise a Major Decision);

 

(e)          in
circumstances where no lender discretion is permitted other than confirming that the conditions in the related Mortgage Loan documents
have been satisfied (including determining whether any applicable terms or tests are satisfied), any request to incur additional
debt in accordance with the terms of the related Mortgage Loan documents;

 

(f)          in
circumstances where no lender discretion is required other than confirming the satisfaction of the applicable terms of the Mortgage
Loan documents (including determining whether any applicable terms or tests are satisfied), processing requests for any release
of collateral or any acceptance of substitute or additional collateral for a Mortgage Loan or Serviced Whole Loan; provided
that, in any case, Special Servicer Non-Major Decisions will not include (i) the release, substitution or addition of collateral
securing any Mortgage Loan (other than Non-Serviced Mortgage Loans) or Serviced Whole Loan in connection with a defeasance of such
collateral; or (ii) that are related to any condemnation action that is pending, or threatened in writing, and would affect a non-material
portion of the Mortgaged Property; provided that such release or substitution or addition of collateral is not a Major Decision;

 

(g)          agreeing
to any modification or amendment to any ground lease or any subordination, non-disturbance and attornment agreement relating to
any ground lease or any entry into a new ground lease with respect to a Mortgaged Property or determining whether to cure any default
by a Mortgagor under a ground lease; and

 

(h)          approving
easements or rights of way that materially affect the use or value of a Mortgaged Property or the Mortgagor’s ability to
make payments with respect to the related Mortgage Loan;

 

provided,
however, that with respect to clauses (a), (b)(A), (b)(B) and (d) of this definition, the Master Servicer shall process
such request with respect to Non-Specially Mortgage Serviced Loans
and obtain the consent or deemed consent of the applicable Special Servicer as provided in this Agreement.

 

Notwithstanding
the foregoing, the Master Servicer and the applicable Special Servicer may mutually agree as provided in this Agreement that the
Master Servicer shall

 

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process any of the foregoing matters with respect to any Mortgage Loan (other than any Non-Serviced
Mortgage Loan) or Serviced Whole Loan that is a Non-Specially Serviced Mortgage Loan in accordance with the terms and conditions
reasonably agreed to by the Master Servicer and the applicable Special Servicer, including the applicable Special Servicer’s
consent. If the Master Servicer and the applicable Special Servicer mutually
agree that the Master Servicer shall process a Special Servicer Non-Major Decision with respect to any Mortgage Loan (other
than any Non-Serviced Mortgage Loan) or Serviced Whole Loan that is a Non-Specially Serviced Mortgage Loan,
the Master Servicer shall obtain the Special Servicer’s prior consent (or deemed consent) to such Special Servicer Non-Major
Decision.

 

“Special Servicing
Fee”: With respect to each Specially Serviced Mortgage Loan and REO Loan (other than a Non-Serviced Mortgage Loan), the
fee payable to the applicable Special Servicer pursuant to Section 3.11(b).

 

“Special Servicing
Fee Rate”: With respect to any Specially Serviced Mortgage Loan or REO Property, a rate equal to (a) 0.25% per
annum or (b) if such rate in clause (a) would result in a Special Servicing Fee with respect to a Specially Serviced
Mortgage Loan or REO Property (other than an REO Property acquired with respect to any Non-Serviced Whole Loan) that would be less
than $3,500 in any given month, then the Special Servicing Fee Rate for such month for such Specially Serviced Mortgage Loan or
REO Property shall be the higher per annum rate as would result in a Special Servicing Fee equal to $3,500 for such month
with respect to such Specially Serviced Mortgage Loan or REO Property.

 

“Specially Serviced
Mortgage Loan”: As defined in Section 3.01(a).

 

“Startup Day”:
The day designated as such in Section 10.01(b).

 

“Stated Principal
Balance”: With respect to any Mortgage Loan or Trust Subordinate Companion Loan, as of any date of determination, an
amount equal to (x) the Cut-off Date Principal Balance of such Mortgage Loan or Trust Subordinate Companion Loan (or in the
case of a Qualified Substitute Mortgage Loan, the unpaid principal balance of such Mortgage Loan (or Trust Subordinate Companion
Loan) after application of all scheduled payments of principal and interest due during or prior to the month of substitution, whether
or not received) minus (y) the sum of:

 

(i)           the
principal portion of each Periodic Payment due on such Mortgage Loan or Trust Subordinate Companion Loan after the Cut-off Date
(or in the case of a Qualified Substitute Mortgage Loan, the Due Date in the related month of substitution), to the extent received
from the Mortgagor or advanced by the Master Servicer;

 

(ii)          all
Principal Prepayments received with respect to such Mortgage Loan or Trust Subordinate Companion Loan after the Cut-off Date (or
in the case of a Qualified Substitute Mortgage Loan, the Due Date in the related month of substitution);

 

(iii)         the
principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on such Mortgage Loan or Trust
Subordinate

 

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Companion Loan and Liquidation Proceeds received with respect to such Mortgage Loan or Trust Subordinate Companion
Loan after the Cut-off Date (or in the case of a Qualified Substitute Mortgage Loan, the Due Date in the related month of substitution);
and

 

(iv)         any
reduction in the outstanding principal balance of such Mortgage Loan or Trust Subordinate Companion Loan resulting from a Deficient
Valuation or a modification of such Mortgage Loan or Trust Subordinate Companion Loan pursuant to the terms and provisions of this
Agreement that occurred prior to the end of the Collection Period for the most recent Distribution Date.

 

With respect to any REO
Loan that is a successor to a Mortgage Loan or Trust Subordinate Companion Loan, as of any date of determination, an amount equal
to (x) the Stated Principal Balance of the predecessor Mortgage Loan or Trust Subordinate Companion Loan as of the date of
the related REO Acquisition, minus (y) the sum of:

 

(i)           the
principal portion of any P&I Advance made with respect to such REO Loan; and

 

(ii)          the
principal portion of all Insurance and Condemnation Proceeds (to the extent allocable to principal on the related Mortgage Loan
or Trust Subordinate Companion Loan, as applicable), Liquidation Proceeds and REO Revenues received with respect to such REO Loan.

 

A Mortgage Loan, Trust
Subordinate Companion Loan or an REO Loan that is a successor to a Mortgage Loan or Trust Subordinate Companion Loan shall be deemed
to be part of the Trust Fund and to have an outstanding Stated Principal Balance until the Distribution Date on which the payments
or other proceeds, if any, received in connection with a Liquidation Event in respect thereof are to be (or, if no such payments
or other proceeds are received in connection with such Liquidation Event, would have been) distributed to Certificateholders.

 

With respect to each
Companion Loan on any date of determination, the Stated Principal Balance shall equal the unpaid principal balance of such Companion
Loan as of such date. On any date of determination, the Stated Principal Balance of each Whole Loan shall be the sum of the Stated
Principal Balances of the related Mortgage Loan and the related Companion Loan on such date.

 

With respect to any REO
Loan that is a successor to a Companion Loan as of any date of determination, the Stated Principal Balance shall equal (x) the
Stated Principal Balance of the predecessor Companion Loan as of the date of the related REO Acquisition, minus (y) the
principal portion of any amounts allocable to the related Companion Loan in accordance with the related Co-Lender Agreement.

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the

 

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direction or authority of the Master
Servicer, the Special Servicers, the Operating Advisor, an Additional Servicer or a Sub-Servicer.

 

“Subject Loans”:
As defined in Section 12.02(b).

 

“Subordinate
Certificate”: Any Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificate.

 

“Subordinate
Companion Holder”: The holder of any of the AB Subordinate Companion Loans.

 

“Sub-Servicer”:
Any Person that services Mortgage Loans on behalf of the Master Servicer, the Special Servicers or an Additional Servicer and is
responsible for the performance (whether directly or through Sub-Servicers or Subcontractors) of a substantial portion of the material
servicing functions required to be performed by the Master Servicer, the Special Servicers or an Additional Servicer under this
Agreement, with respect to some or all of the Mortgage Loans that are identified in Item 1122(d) of Regulation AB.

 

“Sub-Servicing
Agreement”: The written contract between the Master Servicer or the applicable Special Servicer, as the case may be,
and any Sub-Servicer relating to servicing and administration of Mortgage Loans and the Trust Subordinate Companion Loans as provided
in Section 3.20.

 

“Substitution
Shortfall Amount”: With respect to a substitution pursuant to Section 2.03(b) hereof, an amount equal to
the excess, if any, of the Purchase Price of the Mortgage Loan or Trust Subordinate Companion Loan, being replaced calculated as
of the date of substitution over the Stated Principal Balance of the related Qualified Substitute Mortgage Loan after application
of all scheduled payments of principal and interest due during or prior to the month of substitution. In the event that one or
more Qualified Substitute Mortgage Loans are substituted (at the same time by the same Mortgage Loan Seller) for one or more removed
Mortgage Loans or Trust Subordinate Companion Loan, as applicable, the Substitution Shortfall Amount shall be determined as provided
in the preceding sentence on the basis of the aggregate Purchase Prices of the Mortgage Loan(s) or Trust Subordinate Companion
Loan, as applicable, being replaced and the aggregate Stated Principal Balances of the related Qualified Substitute Mortgage Loan(s).

 

“Supplemental
Servicer Schedule”: With respect to the Mortgage Loans to be serviced by the Master Servicer, a list attached hereto
as Exhibit H, which list sets forth the following information with respect to each Mortgage Loan:

 

(i)          the
Mortgagor’s name;

 

(ii)        
property type;

 

(iii)        the
original balance;

 

(iv)       the
origination date;

 

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(v)        the
original and remaining amortization term;

 

(vi)       whether
such Mortgage Loan has a guarantor;

 

(vii)      whether
such Mortgage Loan is secured by a letter of credit;

 

(viii)     the
original balance of any reserve or escrowed funds and the monthly amount of any reserve or escrowed funds;

 

(ix)        the
grace period with respect to both default interest and late payment charges;

 

(x)         whether
such Mortgage Loan is insured by RVI, lease enhancement policy or environmental policies;

 

(xi)        whether
an operation and maintenance plan exists and, if so, what repairs are required;

 

(xii)       whether
a cash management agreement or lock-box agreement is in place;

 

(xiii)      the
number of units, pads, rooms or square feet of the Mortgaged Property;

 

(xiv)    
 the amount of the monthly payment due on the first Due Date following the Closing Date;

 

(xv)       the
interest accrual basis;

 

(xvi)      Administrative
Cost Rate;

 

(xvii)  
  whether the Mortgage Loan is secured by a Ground Lease without the Overlapping Fee Interest;

 

(xviii)    whether
the Mortgage Loan is secured by a Ground Lease and the Overlapping Fee Interest;

 

(xix)    
  whether the related Mortgage Loan is a defeasance loan; and

 

(xx)       whether
such Mortgage Loan is part of any Serviced Whole Loan, in which case the information required by clauses (xiv) and (xv) above
shall also be set forth for the Companion Loan in such Serviced Whole Loan; provided that, if there are no Serviced Whole Loans,
the information in this clause will not be required to be included on the Supplemental Servicer Schedule.

 

Such list may be in the
form of more than one list, collectively setting forth all of the information required.

 

“Surviving Entity”:
As defined in Section 6.03(b).

 

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“Tax Returns”:
The federal income tax returns on (i) Internal Revenue Service Form 1066, U.S. Real Estate Mortgage Investment Conduit
(REMIC) Income Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income
or Net Loss Allocation, or any successor forms, to be filed on behalf of each Trust REMIC due to its respective classification
as a REMIC under the REMIC Provisions and (ii) Internal Revenue Service Form 1041 or Internal Revenue Service Form 1099,
as applicable, or any successor forms to be filed on behalf of the Grantor Trust, together with any and all other information,
reports or returns that may be required to be furnished to the Certificateholders or filed with the Internal Revenue Service or
any other governmental taxing authority under any applicable provisions of federal tax law or Applicable State and Local Tax Law.

 

“Temporary Regulation S
Book-Entry Certificate”: As defined in Section 5.02(a).

 

“Tranche Percentage
Interest”: The percentage ownership interest in a Class PEZ Regular Interest evidenced by an Exchangeable Certificate,
which is equal to the ratio, expressed as a percentage, of (a) the Certificate Balance of that Certificate (or, in the case of
a Class PEZ Certificate, the Certificate Balance of the related Class PEZ Component with the same letter designation as such Class
PEZ Regular Interest) to (b) the outstanding Certificate Balance of such Class PEZ Regular Interest.

 

“Transfer”:
Any direct or indirect transfer, sale, pledge, hypothecation, or other form of assignment of any Ownership Interest in a Certificate.

 

“Transferable
Servicing Interest”: The amount by which the Servicing Fee otherwise payable to the Master Servicer hereunder exceeds
the sum of (i) the Primary Servicing Fee and (ii) the amount of the Servicing Fee calculated using the Retained Fee Rate,
which is subject to reduction by the Trustee pursuant to Section 3.11(a) of this Agreement.

 

“Transferee”:
Any Person who is acquiring by Transfer any Ownership Interest in a Certificate.

 

“Transferee
Affidavit”: As defined in Section 5.03(n)(ii).

 

“Transferor”:
Any Person who is disposing by Transfer any Ownership Interest in a Certificate.

 

“Transferor
Letter”: As defined in Section 5.03(n)(ii).

 

“Trust”:
The trust created hereby and to be administered hereunder. The Trust shall be named: “GS Mortgage Securities Trust 2016-GS4”.

 

“Trust Fund”:
The corpus of the Trust created hereby and to be administered hereunder, consisting of: (i) such Mortgage Loans and the Trust
Subordinate Companion Loans as from time to time are subject to this Agreement (including any Qualified Substitute Mortgage Loan
replacing a removed Mortgage Loan), together with the Mortgage Files relating thereto (subject to, in the case of a Serviced Whole
Loan, the interests of the related Serviced Companion Noteholder in the related Mortgage File); (ii) all scheduled or unscheduled
payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans

 

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due after the Cut-off Date
(or with respect to a Qualified Substitute Mortgage Loan, the Due Date in the month of substitution); (iii) any REO Property
(to the extent of the Trust’s interest therein) or the Trust’s beneficial interest in the Mortgaged Property securing
a Non-Serviced Whole Loan acquired under the related Non-Serviced Pooling Agreement; (iv) all revenues received in respect
of any REO Property (to the extent of the Trust’s interest therein); (v) the Master Servicer’s, the applicable
Special Servicer’s, the Certificate Administrator’s and the Trustee’s rights under the insurance policies with
respect to the Mortgage Loans and the Trust Subordinate Companion Loans required to be maintained pursuant to this Agreement and
any proceeds thereof (to the extent of the Trust’s interest therein); (vi) any Assignment of Leases and any security
agreements (to the extent of the Trust’s interest therein); (vii) any letters of credit, indemnities, guaranties or
lease enhancement policies given as additional security for any related Mortgage Loans and the Trust Subordinate Companion Loans
(to the extent of the Trust’s interest therein); (viii) all assets deposited in the Loss of Value Reserve Fund and the
Servicing Accounts (to the extent of the Trust’s interest therein), amounts on deposit in the Collection Account (to the
extent of the Trust’s interest therein), the Lower-Tier REMIC Distribution Account, the Upper-Tier REMIC Distribution Account,
the Excess Interest Distribution Account, the Class PEZ Distribution Account, the Trust Subordinate Companion Loan REMIC Distribution
Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account (to the extent of the Trust’s interest in such Gain-on-Sale
Reserve Account) and any REO Account (to the extent of the Trust’s interest in such REO Account), including any reinvestment
income, as applicable; (ix) any Environmental Indemnity Agreements (to the extent of the Trust’s interest therein);
(x) the rights and remedies of the Depositor under the Mortgage Loan Purchase Agreement (to the extent transferred to the
Trustee); (xi) the Lower-Tier Regular Interests; (xii) the Trust Subordinate Companion Loan REMIC Regular Interests; and (xiii)
the proceeds of the foregoing (other than any interest earned on deposits in the lock-box accounts, cash collateral accounts, escrow
accounts and any reserve accounts, to the extent such interest belongs to the related Mortgagor).

 

“Trust REMIC”:
As defined in the Preliminary Statement.

 

“Trust Subordinate
Companion Loans”: The AMA Plaza Trust Subordinate Companion Loan and the 225 Bush Street Trust Subordinate Companion
Loan.

 

“Trust Subordinate
Companion Loan Control Termination Event”: An AMA Plaza Trust Subordinate Companion Loan Control Termination Event or
a 225 Bush Street Trust Subordinate Companion Loan Control Termination Event, as applicable.

 

“Trust Subordinate
Companion Loan REMICs”: The AMA Plaza Trust Subordinate Companion Loan REMIC and the 225 Bush Street Trust Subordinate
Companion Loan REMIC.

 

“Trust Subordinate
Companion Loan REMIC Distribution Accounts”: The AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account
and the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account.

 

“Trust Subordinate
Companion Loan REMIC Distribution Amount”: As defined in Section 4.01(b).

 

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“Trust Subordinate
Companion Loan REMIC Regular Interests”: Any of the Class LAMAA, Class LAMAB, Class LAMAC and Class LAMAD or Class L225A,
Class L225B, Class L225C, Class L225D and Class L225E Uncertificated Interests, as applicable.

 

“Trustee”:
Wilmington Trust, National Association, or its successor in interest, in its capacity as trustee and its successors in interest,
or any successor trustee appointed as herein provided.

 

“Trustee Fee”:
The fee to be paid to the Trustee as compensation for the Trustee’s activities under this Agreement, which fee is included
as part of the Certificate Administrator/Trustee Fee. No portion of the Trustee Fee shall be calculated by reference to any Companion
Loan or the Stated Principal Balance of any Companion Loan.

 

“UCC”:
The Uniform Commercial Code, as enacted in each applicable state.

 

“UCC Financing
Statement”: A financing statement prepared and filed pursuant to the UCC, as in effect in the relevant jurisdiction.

 

“Underwriters”:
Goldman Sachs & Co., Academy Securities, Inc., Drexel Hamilton, LLC and Morgan Stanley & Co. LLC.

 

“Uninsured Cause”:
Any cause of damage to property subject to a Mortgage such that the complete restoration of such property is not fully reimbursable
by the hazard insurance policies or flood insurance policies required to be maintained pursuant to Section 3.07.

 

“United States
Securities Person”: Any “U.S. person” as defined in Rule 902(k) of Regulation S.

 

“Unliquidated
Advance”: Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that
made the Advance hereunder, on the one hand, and the Trust, on the other, as part of a Workout-Delayed Reimbursement Amount pursuant
to subsections (iii) and (iv) of Section 3.05(a) but that has not been recovered from the Mortgagor
or otherwise from collections on or the proceeds of the related Mortgage Loan or REO Property in respect of which the Advance was
made.

 

“Unscheduled
Principal Distribution Amount”: With respect to any Distribution Date and the Mortgage Loans, the aggregate of the following:
(a) all Principal Prepayments received on such Mortgage Loan on or prior to the Determination Date and (b) the principal
portions of all Liquidation Proceeds, Insurance and Condemnation Proceeds (net of Special Servicing Fees, Liquidation Fees, accrued
interest on Advances and other additional expenses of the Trust incurred in connection with the related Mortgage Loan) and, if
applicable, REO Revenues received with respect to such Mortgage Loan and any REO Loans on or prior to the related Determination
Date, but in each case only to the extent that such principal portion represents a recovery of principal for which no advance was
previously made pursuant to Section 4.03 in respect of a preceding Distribution Date.

 

“Upper-Tier
REMIC”: One of the four separate REMICs comprising the Trust, the assets of which consist of the Lower-Tier Regular Interests,
the Trust Subordinate

 

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Companion Loan REMIC Regular Interests and such amounts as shall from time to time be held in the Upper-Tier
REMIC Distribution Account.

 

“Upper-Tier
REMIC Distribution Account”: The segregated account or accounts (or a subaccount of the Distribution Account) created
and maintained by the Certificate Administrator (on behalf of the Trustee) pursuant to Section 3.04(b) in trust for
the Certificateholders, which shall initially be entitled “Wells Fargo Bank, National Association, as Master Servicer on
behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered holders of GS Mortgage Securities
Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Upper-Tier REMIC Distribution Account”.
Any such account or accounts shall be an Eligible Account.

 

“U.S. Dollars”
or “$”: Lawful money of the United States of America.

 

“U.S. Industrial
Portfolio Co-Lender Agreement”: That certain Co-Lender Agreement, dated as of September 1, 2016, by and between the holder
of the U.S. Industrial Portfolio Pari Passu Companion Loans and the holder of the U.S. Industrial Portfolio Mortgage Loan, relating
to the relative rights of such holders of the U.S. Industrial Portfolio Whole Loan, as the same may be further amended in accordance
with the terms thereof.

 

“U.S. Industrial
Portfolio Mortgage Loan”: With respect to the U.S. Industrial Portfolio Whole Loan, the Mortgage Loan that is included
in the Trust (identified as Mortgage Loan No. 4 on the Mortgage Loan Schedule), which is designated as promissory note A-2,
and is pari passu in right of payment with the U.S. Industrial Portfolio Pari Passu Companion Loans to the extent set forth
in the related Co-Lender Agreement.

 

“U.S. Industrial
Portfolio Mortgaged Property”: The Mortgaged Property which secures the U.S. Industrial Portfolio Whole Loan.

 

“U.S. Industrial
Portfolio Pari Passu Companion Loans”: With respect to the U.S. Industrial Portfolio Whole Loan, the Companion Loans
evidenced by the related promissory notes A-1, 1-3 and A-4 made by the related Mortgagor and secured by the Mortgage on the U.S.
Industrial Portfolio Mortgaged Property, which are not included in the Trust and which are pari passu in right of payment
to the U.S. Industrial Portfolio Mortgage Loan to the extent set forth in the related Mortgage Loan documents and as provided in
the U.S. Industrial Portfolio Co-Lender Agreement.

 

“U.S. Industrial
Portfolio Whole Loan”: The U.S. Industrial Portfolio Mortgage Loan, together with the U.S. Industrial Portfolio Pari
Passu Companion Loans, each of which is secured by the same Mortgage on the U.S. Industrial Portfolio Mortgaged Property. References
herein to the U.S. Industrial Portfolio Whole Loan shall be construed to refer to the aggregate indebtedness under the U.S. Industrial
Portfolio Mortgage Loan and the U.S. Industrial Portfolio Pari Passu Companion Loans.

 

“U.S. Tax Person”:
A citizen or resident of the United States, a corporation or partnership (except to the extent provided in applicable Treasury
Regulations) or other entity created or organized in, or under the laws of, the United States, any State thereof or the District
of Columbia, including any entity treated as a corporation or partnership for federal income tax

 

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purposes, an estate whose income
is subject to United States federal income tax regardless of its source or a trust if a court within the United States is able
to exercise primary supervision over the administration of such trust, and one or more such U.S. Tax Persons have the authority
to control all substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, certain trusts
in existence on August 20, 1996 that have elected to be treated as U.S. Tax Persons).

 

“Voting Rights”:
The portion of the voting rights of all of the Certificates which is allocated to any Certificate. At all times during the term
of this Agreement, the Voting Rights shall be allocated among the various Classes of Certificateholders as follows: (i) 1%
in the case of the Class X Certificates (allocated pro rata, based upon their respective Notional Amounts as of the date
of determination) and (ii) in the case of any Principal Balance Certificates, a percentage equal to the product of 99% and
a fraction, the numerator of which is equal to the Certificate Balance (and solely in connection with any vote for purposes of
determining whether to remove the applicable Special Servicer pursuant to Section 7.01(d) or the Operating Advisor
pursuant to Section 3.26(j), taking into account any notional reduction in the Certificate Balance for Appraisal Reduction
Amounts allocated to the Certificates pursuant to Section 4.05(a) hereof) of such Class, in each case, determined as
of the Distribution Date immediately preceding such time, and the denominator of which is equal to the aggregate Certificate Balance
(and solely in connection with any vote for purposes of determining whether to remove the applicable Special Servicer pursuant
to Section 7.01(d) or the Operating Advisor pursuant to Section 3.26(j), taking into account any notional
reduction in the Certificate Balance for Appraisal Reduction Amounts allocated to the Certificates pursuant to Section 4.05(a)
hereof) of the Principal Balance Certificates, each determined as of the Distribution Date immediately preceding such time. For
purposes of such allocations, the Class A-S certificates and the Class PEZ Component A will be considered as if they together constitute
a single “Class”, the Class B certificates and the Class PEZ Component B will be considered as if they together constitute
a single “Class”, and the Class C certificates and the Class PEZ Component C will be considered as if they together
constitute a single “Class”. Voting Rights will be allocated to the Class PEZ certificates only with respect to each
Class PEZ Components that is part of a Class of Certificates determined as described in the preceding sentence. The Class R Certificates
will not be entitled to any Voting Rights.

 

“Weighted Average
Net Mortgage Rate”: With respect to any Distribution Date, a per annum rate equal to the weighted average of the
Net Mortgage Rates in effect for the Mortgage Loans (including the related REO Loans) as of their respective Due Dates in the month
preceding the month in which such Distribution Date occurs, weighted on the basis of their respective Stated Principal Balances
immediately following the Distribution Date (or, if applicable, the Closing Date) in such preceding month.

 

“WHFIT”:
A “Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(22)
or successor provisions.

 

“WHFIT Regulations”:
Treasury Regulations Section 1.671-5, as amended or successor provisions.

 

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“WHMT”:
A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(23) or successor
provisions.

 

“Whole Loan”:
Any of (i) the AMA Plaza Whole Loan, (ii) the 225 Bush Street Whole Loan, (iii) the U.S. Industrial Portfolio Whole Loan, (iv)
the Simon Premium Outlets Whole Loan, (v) the 540 West Madison Whole Loan, (vi) the Hamilton Place Whole Loan, (vii) the Embassy
Suites Portland Airport Whole Loan or (viii) the Residence Inn and SpringHill Suites North Shore Whole Loan.

 

“Withheld Amounts”:
As defined in Section 3.21(a).

 

“Workout-Delayed
Reimbursement Amounts”: With respect to any Mortgage Loan or Trust Subordinate Companion Loan, the amount of any Advances
made with respect to such Mortgage Loan or Trust Subordinate Companion Loan on or before the date such Mortgage Loan or Trust Subordinate
Companion Loan becomes (or, but for the making of three Periodic Payments under its modified terms, would then constitute) a Corrected
Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such Advance (and accrued
and unpaid interest thereon) is not reimbursed to the Person who made such Advance on or before the date, if any, on which Mortgage
Loan or Trust Subordinate Companion Loan becomes a Corrected Loan and (ii) the amount of such Advance (and accrued and unpaid interest
thereon) becomes an obligation of the related Mortgagor to pay such amount under the terms of the modified loan documents. That
any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of
any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable Advance.

 

“Workout Fee”:
The fee paid to the applicable Special Servicer with respect to each Corrected Loan in accordance with Section 3.11(c).

 

“Workout Fee
Rate”: A rate equal to the lesser of (a) 1.0% with respect to any Corrected Loan, and (b) such lower rate as would result
in a Workout Fee of $1,000,000 when applied to each expected payment of principal and interest (other than Default Interest) on
any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan, as applicable, from the date such Mortgage
Loan (or Serviced Whole Loan, if applicable) becomes a Corrected Loan through and including the then-related maturity date (or
if the rate in clause (a) above would result in a Workout Fee that would be less than $25,000 when applied to each expected payment
of principal and interest (other than Default Interest) on the related Mortgage Loan (or Serviced Whole Loan, if applicable) from
the date such Mortgage Loan (or Serviced Whole Loan, if applicable) becomes a Corrected Loan through and including the then related
maturity date, then the Workout Fee Rate shall be a rate equal to such higher rate as would result in a Workout Fee equal to $25,000
when applied to each expected payment of principal and interest (other than Default Interest) on the related Mortgage Loan (or
Serviced Whole Loan, if applicable) from the date such Mortgage Loan (or Serviced Whole Loan, if applicable) becomes a Corrected
Loan through and including the then related maturity date); provided that no Workout Fee will be payable by the issuing
entity with respect to any Corrected Loan if and to the extent that the Corrected Loan became a Specially Serviced Mortgage Loan
under clause (ii) or clause (iii) of the definition of “Servicing Transfer Event” (and no other clause of that

 

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definition)
and no event of default actually occurs, unless the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Whole Loan is modified by the special servicer in accordance with the terms of the Pooling and Servicing Agreement; provided,
further that if a Mortgage Loan or Serviced Companion Loan becomes a Specially Serviced Mortgage Loan only because of an
event described in clause (i) of the definition of “Servicing Transfer Event” as a result of a payment default at maturity
and the related collection of interest and principal is received within 90 days following the related maturity date in connection
with the full and final pay-off or refinancing of the related Mortgage Loan or Serviced Whole Loan, the special servicer will not
be entitled to collect a Workout Fee, but may collect and retain appropriate fees from the related borrower in connection with
such workout. The Workout Fee with respect to any Specially Serviced Mortgage Loan that becomes a Corrected Loan will be reduced
by any Excess Modification Fees paid by or on behalf of the related borrower with respect to such Mortgage Loan or Serviced Whole
Loan as described in the definition of “Excess Modification Fees”, but only to the extent those fees have not previously
been deducted from a Workout Fee or Liquidation Fee.

 

“Yield Maintenance
Charge”: With respect to any Mortgage Loan or REO Loan, the yield maintenance charge or prepayment premium set forth
in the related Mortgage Loan documents; provided that no amounts shall be considered Yield Maintenance Charges until there
has been a full recovery of all principal, interest and other amounts then due under such Mortgage Loan or REO Loan.

 

“YM Group”:
YM Group A or YM Group B, as applicable.

 

“YM Group A”:
As defined in Section 4.01(e)(i) of this Agreement.

 

“YM Group B”:
As defined in Section 4.01(e)(i) of this Agreement.

 

Section
1.02     Certain Calculations. Unless otherwise specified herein, for purposes of
determining amounts with respect to the Certificates and the rights and obligations of the parties hereto, the following
provisions shall apply:

 

(i)         All
calculations of interest (other than as provided in the related Mortgage Loan documents or with respect to the Loan-Specific Certificates)
provided for herein shall be made on the basis of a 360-day year consisting of twelve 30-day months.

 

(ii)        Any
Mortgage Loan or Companion Loan payment is deemed to be received on the date such payment is actually received by the Master Servicer
or the applicable Special Servicer; provided, however, that for purposes of calculating distributions on the Certificates,
Principal Prepayments with respect to any Mortgage Loan or Trust Subordinate Companion Loan, as applicable, are deemed to be received
on the date they are applied in accordance with the Servicing Standard consistent with the terms of the related Mortgage Note and
Mortgage to reduce the outstanding principal balance of such Mortgage Loan or Trust Subordinate Companion Loan, as applicable,
on which interest accrues.

 

(iii)       Any
reference to the Certificate Balance of any Class of Principal Balance Certificates on or as of a Distribution Date shall refer
to the Certificate Balance of such

 

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Class of Principal Balance Certificates on such Distribution Date after giving effect to (a)
any distributions made on such Distribution Date pursuant to Section 4.01(a), (b) and (c), (b) any Realized
Losses allocated to such Class of Principal Balance Certificates (other than the Loan-Specific Certificates), any AMA Plaza Realized
Losses allocated to the AMA Plaza Loan-Specific Certificates or any 225 Bush Street Realized Losses allocated to the 225 Bush Street
Loan-Specific Certificates, as applicable, on that Distribution Date pursuant to Section 4.04, and (c) any recoveries on
the related Mortgage Loans or the Trust Subordinate Companion Loans, as applicable, of Nonrecoverable Advances (plus interest thereon)
that were previously reimbursed from principal collections on the related Mortgage Loans, that resulted in a reduction of the Principal
Distribution Amount, which recoveries are allocated to such Class of Principal Balance Certificates, and added to the Certificate
Balance pursuant to Section 4.04(a).

 

(iv)       All
net present value calculations and determinations made with respect to a Mortgage Loan, Trust Subordinate Companion Loan, Mortgaged
Property or REO Property (including for purposes of the definition of “Servicing Standard”) shall be made in
accordance with the Mortgage Loan documents or, in the event the Mortgage Loan documents are silent, using a discount rate (a)
for principal and interest payments on a Mortgage Loan or Serviced Companion Loan, as applicable, or sale of a Defaulted Mortgage
Loan or Trust Subordinate Companion Loan, as applicable, by the applicable Special Servicer, the highest of (x) the rate determined
by the Master Servicer or the applicable Special Servicer, as applicable, that approximates the market rate that would be obtainable
by the Mortgagor on similar non-defaulted debt of such Mortgagor as of such date of determination, (y) the Mortgage Rate on the
applicable Mortgage Loan or Serviced Companion Loan, as applicable, based on its outstanding principal balance and (z) the yield
on 10-year U.S. treasuries as of such date of determination, and (b) for all other cash flows, including property cash flow, the
“discount rate” set forth in the most recent Appraisal (or update of such Appraisal) of the related Mortgaged Property.

 

(v)       Any
reference to “expense of the trust” or “additional trust fund expense” or words of similar import shall
be construed to mean, for any Serviced Mortgage Loan, an expense that shall be applied in accordance with the related Co-Lender
Agreement or, if no application is specified in the related Co-Lender Agreement, then, to the extent such Co-Lender Agreement refers
to this Agreement for the application of trust expenses or such Co-Lender Agreement does not prohibit the following application
of trust expenses (i) with respect to any Serviced Pari Passu Whole Loan, pro rata and pari passu, to the Trust and
Serviced Pari Passu Companion Loan in accordance with the respective Stated Principal Balances of the related Serviced Pari Passu
Mortgage Loan and Serviced Pari Passu Companion Loan, or (ii) with respect to any Serviced AB Whole Loan, first, to the
related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole Loan, first, to the Non-Trust Subordinate
Companion Loan and then, to the related Trust Subordinate Companion Loan) and then, to the Trust.

 

[End of Article I]

 

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Article
II

CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES

 

Section 2.01     Conveyance
of Mortgage Loans and the Trust Subordinate Companion Loans.

 

(a)       The
Depositor, concurrently with the execution and delivery hereof, does hereby establish a trust to be designated as GS Mortgage Securities
Trust 2016-GS4, appoint the Trustee to serve as trustee of such trust and assign, sell, transfer, set over and otherwise convey
to the Trustee (as holder of the Lower-Tier Regular Interests) in trust without recourse for the benefit of the Certificateholders
all the right, title and interest of the Depositor, including any security interest therein for the benefit of the Depositor, in,
to and under (i) the Mortgage Loans and the Trust Subordinate Companion Loans identified on the Mortgage Loan Schedule, (ii) Sections
2, 3, 4, 5 (other than Section 5(e) and 5(f)), 6 (other than Section 6(a)(viii) and 6(i)) and, to the extent related to the foregoing,
7, 11, 12, 13, 14, 16, 17, 18 and 23 of the Mortgage Loan Purchase Agreement, (iii) the Co-Lender Agreements, and (iv) all escrow
accounts, lock-box Accounts and all other assets included or to be included in the Trust Fund for the benefit of the Certificateholders.
Such assignment includes all interest and principal received or receivable on or with respect to the Mortgage Loans and the Trust
Subordinate Companion Loans (in each case, other than payments of principal, interest and other amounts due and payable on the
Mortgage Loans and the Trust Subordinate Companion Loans on or before the Cut-Off Date). Such assignment of each Mortgage Loan
that is part of a Whole Loan is further subject to the terms and conditions of the applicable Other Pooling and Servicing Agreement
(if any) and each Co-Lender Agreement. The transfer of the Mortgage Loans and the Trust Subordinate Companion Loans and the related
rights and property accomplished hereby is absolute and is intended by the parties to constitute a sale.

 

(b)       In
connection with the Depositor’s assignment pursuant to Section 2.01(a) of this Agreement, the Depositor shall direct
the Mortgage Loan Seller (pursuant to the Mortgage Loan Purchase Agreement) to deliver to and deposit with the Custodian (on behalf
of the Trustee), on or before the Closing Date, the Mortgage File for each Mortgage Loan and Trust Subordinate Companion Loan,
with copies to be delivered, together with any other documents and records that would otherwise be a part of the Servicing File,
within five (5) Business Days after the Closing Date, to the Master Servicer (other than with respect to the Non-Serviced Mortgage
Loans) and the applicable Special Servicer; provided, however, that copies of any document in the Mortgage File that
also constitutes a Designated Servicing Document shall be delivered to the Master Servicer (other than with respect to the Non-Serviced
Mortgage Loans) on or before the Closing Date. None of the Certificate Administrator, the Trustee, the Custodian, the Master Servicer
or the applicable Special Servicer shall be liable for any failure by the Mortgage Loan Seller or the Depositor to comply with
the document delivery requirements of the Mortgage Loan Purchase Agreement and this Section 2.01(b). Notwithstanding anything
herein to the contrary, with respect to letters of credit (exclusive of those relating to Non-Serviced Mortgage Loans), the Mortgage
Loan Seller shall deliver to the Master Servicer and the Master Servicer shall hold the original (or copy, if such original has
been submitted by the Mortgage Loan Seller to the issuing bank to effect an assignment or amendment of such letter of

 

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credit (changing
the beneficiary thereof to the Trustee (in care of the Master Servicer) for the benefit of the Certificateholders and, if applicable,
the related Serviced Companion Noteholder, that may be required in order for the Master Servicer to draw on such letter of credit
on behalf of the Trustee for the benefit of the Certificateholders and, if applicable, the related Serviced Companion Noteholder,
in accordance with the applicable terms thereof and/or of the related Mortgage Loan documents or Trust Subordinate Companion Loan
documents, as applicable) and the Mortgage Loan Seller shall be deemed to have satisfied any delivery requirements of the Mortgage
Loan Purchase Agreement and this Section 2.01(b) by delivering with respect to any letter(s) of credit a copy thereof to
the Custodian together with an Officer’s Certificate of the Mortgage Loan Seller certifying that such document has been delivered
to the Master Servicer or an Officer’s Certificate from the Master Servicer certifying that it holds the letter(s) of credit
pursuant to this Section 2.01(b). If a letter of credit referred to in the previous sentence is not in a form that would
allow the Master Servicer to draw on such letter of credit on behalf of the Trustee for the benefit of the Certificateholders and,
if applicable, the related Serviced Companion Noteholder, in accordance with the applicable terms thereof and/or of the related
Mortgage Loan documents, the Mortgage Loan Seller shall deliver the appropriate assignment or amendment documents (or copies of
such assignment or amendment documents if the Mortgage Loan Seller has submitted the originals to the related issuer of such letter
of credit for processing) to the Master Servicer within 90 days of the Closing Date. The Mortgage Loan Seller shall pay any costs
of assignment or amendment of such letter(s) of credit required in order for the Master Servicer to draw on such letter(s) of credit
on behalf of the Trustee for the benefit of the Certificateholders and, if applicable, the related Serviced Companion Noteholder,
and shall cooperate with the reasonable requests of the Master Servicer or the applicable Special Servicer, as applicable, in connection
with effectuating a draw under any such letter of credit prior to the date such letter of credit is assigned or amended in order
that it may be drawn by the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders and, if applicable,
the related Serviced Companion Noteholder.

 

After the Depositor’s
transfer of the Mortgage Loans and the Trust Subordinate Companion Loans to the Trustee pursuant to this Section 2.01(b),
the Depositor shall not take any action inconsistent with the Trust’s ownership of the Mortgage Loans.

 

With respect to any Mortgage
Loan or Trust Subordinate Companion Loan secured by a Mortgaged Property that is subject to a franchise agreement with a related
comfort letter in favor of the Mortgage Loan Seller that requires notice to or request of the related franchisor to transfer or
assign any related comfort letter to the Trustee for the benefit of the Certificateholders or have a new comfort letter (or any
such new document or acknowledgement as may be contemplated under the existing comfort letter) issued in the name of the Trustee
for the benefit of the Certificateholders, the Mortgage Loan Seller or its designee shall, within 45 days of the Closing Date (or
any shorter period if required by the applicable comfort letter), provide any such required notice or make any such required request
to the related franchisor for the transfer or assignment of such comfort letter or issuance of a new comfort letter (or any such
new document or acknowledgement as may be contemplated under the existing comfort letter), with a copy of such notice or request
to the Custodian (who shall include such document in the related Mortgage File), the Master Servicer and the applicable Special
Servicer, and the Master Servicer shall use reasonable efforts in accordance with the Servicing Standard to acquire such replacement
comfort letter, if necessary (or to acquire any such new document or

 

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acknowledgement as may be contemplated under the existing
comfort letter) and the Master Servicer shall, as soon as reasonably practicable following receipt thereof, deliver the original
of such replacement comfort letter, new document or acknowledgement, as applicable, to the Custodian for inclusion in the Mortgage
File.

 

(c)       The
Depositor hereby represents and warrants that the Mortgage Loan Seller has covenanted in the Mortgage Loan Purchase Agreement that,
except with respect to any Non-Serviced Mortgage Loan, it shall cause AMO to record and file at the Mortgage Loan Seller’s
expense, in the appropriate public office for real property records or UCC financing statements, as appropriate (or, with respect
to any assignments that the Custodian has agreed to record or file pursuant to this Agreement, deliver to the Custodian for such
purpose and cause the Custodian to record and file), each related assignment of Mortgage and assignment of Assignment of Leases,
in favor of the Trustee referred to in clause (4) of the definition of “Mortgage File” and each related UCC-3 assignment
referred to in clause (15) of the definition of “Mortgage File”. This subsection (c) shall not apply to any Non-Serviced
Mortgage Loan because the documents referred to herein have been assigned to an Other Trustee.

 

The Depositor hereby
represents and warrants that the Mortgage Loan Seller has covenanted in the Mortgage Loan Purchase Agreement as to each Mortgage
Loan and Trust Subordinate Companion Loan (exclusive of the Non-Serviced Mortgage Loans), that if it cannot deliver or cause to
be delivered the documents and/or instruments referred to in clauses (2), (3) and (6) (if recorded) and (15) of the definition
of “Mortgage File” solely because of a delay caused by the public recording or filing office where such document or
instrument has been delivered for recordation or filing, as applicable, a copy of the original certified by the Mortgage Loan Seller
to be a true and complete copy of the original thereof submitted for recording, shall be forwarded to the Custodian. Each assignment
referred to in the prior paragraph that is recorded and the file copy of each UCC-3 assignment referred to in the previous paragraph
shall reflect that it should be returned by the public recording or filing office to the Custodian or its agent following recording
(or, alternatively, to the Mortgage Loan Seller or its designee, in which case the Mortgage Loan Seller shall deliver or cause
the delivery of the recorded/filed original to the Custodian promptly following receipt); provided that, in those instances
where the public recording office retains the original assignment of Mortgage or assignment of Assignment of Leases, the Mortgage
Loan Seller shall obtain therefrom and deliver to the Custodian a certified copy of the recorded original. On a monthly basis,
at the expense of the Mortgage Loan Seller, the Custodian shall forward to the Master Servicer a copy of each of the aforementioned
assignments following the Custodian’s receipt thereof.

 

If the Custodian has
received written notice that any of the aforementioned assignments is lost or returned unrecorded or unfiled, as the case may be,
because of a defect therein, then the Custodian shall forward the same to the Mortgage Loan Seller (pursuant to the Mortgage Loan
Purchase Agreement) and the Mortgage Loan Seller shall promptly prepare or cause the preparation of a substitute therefor or to
cure such defect, as the case may be, and the Mortgage Loan Seller shall record or file, or cause AMO to record or file, or with
respect to any assignments the Custodian has agreed to file as described above, to deliver to the Custodian the substitute or corrected
document. The Custodian shall upon receipt from the Mortgage Loan Seller cause the same to be duly recorded or filed, as appropriate.

 

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(d)       In
connection with the Depositor’s assignment pursuant to Section 2.01(a) of this Agreement, the Depositor shall direct
the Mortgage Loan Seller (pursuant to the Mortgage Loan Purchase Agreement) to deliver to and deposit (or cause to be delivered
and deposited) with the Master Servicer within five (5) Business Days after the Closing Date, (i) a copy of the Mortgage File,
(ii) all documents and records not otherwise required to be contained in the Mortgage File that (A) relate to the origination and/or
servicing and administration of the Mortgage Loans (other than the Non-Serviced Mortgage Loan) or the related Serviced Companion
Loans, (B) are reasonably necessary for the ongoing administration and/or servicing of the Mortgage Loans (including any asset
summaries related to the Mortgage Loans that were delivered to the Rating Agencies in connection with the rating of the Certificates)
and the Serviced Companion Loans or for evidencing or enforcing any of the rights of the holder of the Mortgage Loans and the Serviced
Companion Loans or holders of interests therein and (C) are in the possession or under the control of the Mortgage Loan Seller,
and (iii) all unapplied Escrow Payments and reserve funds in the possession or under the control of the Mortgage Loan Seller that
relate to the Mortgage Loans or any related Serviced Companion Loans, together with a statement indicating which Escrow Payments
and reserve funds are allocable to each Mortgage Loan or to the Serviced Companion Loans, provided that copies of any document
in the Mortgage File and any other document, record or item referred to above in this sentence that constitutes a Designated Servicing
Document shall be delivered to the Master Servicer on or before the Closing Date; provided, further, that the Mortgage
Loan Seller shall not be required to deliver any draft documents, privileged or other communications, credit underwriting, due
diligence analyses or data or internal worksheets, memoranda, communications or evaluations. In addition, attached as Exhibit
H to this Agreement is the Supplemental Servicer Schedule. The Master Servicer shall hold all such documents, records and funds
on behalf of the Trustee in trust for the benefit of the Certificateholders (and, insofar as they also relate to the Serviced Companion
Loan, on behalf of and for the benefit of the applicable Companion Holder).

 

(e)       In
connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall deliver, and hereby represents
and warrants that it has delivered, to the Custodian and the Master Servicer, on or before the Closing Date, a fully executed original
counterpart of the Mortgage Loan Purchase Agreement, as in full force and effect, without amendment or modification, on the Closing
Date.

 

(f)       The
Custodian with respect to the Serviced Whole Loans, shall also hold the related Mortgage File for the use and benefit of the Companion
Holders.

 

(g)       The
parties to this Agreement acknowledge and agree, with respect to each Mortgage Loan that is part of a Serviced Whole Loan and each
Non-Serviced Mortgage Loan, that the Trust assumes the obligations and rights of the holder of such Mortgage Loan under the respective
Co-Lender Agreement and any applicable Other Pooling and Servicing Agreement.

 

(h)       It
is not intended that this Agreement create a partnership or a joint-stock association.

 

(i)       The
Mortgage Loan Purchase Agreement shall provide that within sixty (60) days of the Closing Date, the Mortgage Loan Seller shall
deliver or cause to be delivered the Diligence Files for each Mortgage Loan to the Depositor by uploading such Diligence Files

 

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(including, if applicable, any additional documents that the Mortgage Loan Seller believes should be included to enable the Asset
Representations Reviewer to perform an Asset Review on such Mortgage Loan or Trust Subordinate Companion Loan; provided
that such documents are clearly labeled and identified) to the Intralinks Site each such Diligence File being organized and categorized
in accordance with the electronic file structure reasonably requested by the Depositor. Promptly upon completion of such delivery
of the Diligence Files (but in no event later than sixty (60) days after the Closing Date), the Mortgage Loan Seller shall provide
to each of the Depositor, the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator, the Custodian,
the Directing Holder, the Asset Representations Reviewer and the Operating Advisor, to the addresses provided herein, an officer’s
certificate signed by the Mortgage Loan Seller certifying that the electronic copies of the documents uploaded to the Intralinks
Site constitute all documents required under the definition of “Diligence File” (the “Diligence File Certification”)
and such Diligence Files are organized and categorized in accordance with the electronic file structure reasonably requested by
the Depositor.

 

Section
2.02     Acceptance by Trustee. (a) The Trustee, by its execution and delivery of this
Agreement, hereby accepts receipt, directly or through the Custodian on its behalf, of (i) the Mortgage Loans and the Trust
Subordinate Companion Loans and all documents delivered to it that constitute portions of the related Mortgage Files (to the
extent such documents constituting the Mortgage Files are actually delivered to the Trustee or Custodian) and (ii) all other
assets delivered to it and included in the Trust Fund, in good faith and without notice of any adverse claim, and declares
that it or the Custodian on its behalf holds and will hold such documents and any other documents subsequently received by it
that constitute portions of the Mortgage Files, and that the Custodian on behalf of the Trustee holds and will hold the
Mortgage Loans and the Trust Subordinate Companion Loans and such other assets, together with any other assets subsequently
delivered to it that are to be included in the Trust Fund, in trust for the exclusive use and benefit of all present and
future Certificateholders and, if applicable, the Companion Holders pursuant to Section 2.01(f) of this Agreement.
With respect to each Serviced Whole Loan, the Custodian shall also hold the portion of such Mortgage File that relates to the
Companion Loan in such Serviced Whole Loan in trust for the use and benefit of the related Companion Holder. In connection
with the foregoing, the Custodian hereby certifies to each of the other parties hereto, the Mortgage Loan Seller, each
Underwriter and each Initial Purchaser that, as to each Mortgage Loan and Trust Subordinate Companion Loan, (i) all documents
specified in clause (1) of the definition of “Mortgage File” are in its possession or the possession of
the Custodian on its behalf, and (ii) the original Mortgage Note (or, if accompanied by a lost note affidavit, the copy
of such Note) received by it or the Custodian with respect to such Mortgage Loan has been reviewed by it or by the Custodian
on its behalf and (A) appears regular on its face (handwritten additions, changes or corrections shall not constitute
irregularities if initialed by the Mortgagor), (B) appears to have been executed (where appropriate) and (C) purports to
relate to such Mortgage Loan or Trust Subordinate Companion Loan.

 

(b)       On
or about the 60th day following the Closing Date (and, if any exceptions are noted, again on or about the 90th
day following the Closing Date and monthly thereafter until the earliest of (i) the second anniversary of the Closing Date, (ii)
the day on which all material exceptions have been removed and (iii) the day on which the Mortgage Loan Seller has repurchased
or substituted for the last affected Mortgage Loan or Trust Subordinate

 

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Companion Loan), the Custodian shall review the documents
delivered to it with respect to each Mortgage Loan and Trust Subordinate Companion Loan, and the Custodian shall, subject to Sections
2.01(c), 2.02(c) and 2.02(d) of this Agreement and the terms of the Mortgage Loan Purchase Agreement, certify
in writing (substantially in the form of Exhibit Q to this Agreement) to each of the other parties hereto, the Mortgage
Loan Seller, each Underwriter and each Initial Purchaser (and upon request, in the case of a Serviced Whole Loan, to the related
Companion Holder) that, as to each Mortgage Loan and Trust Subordinate Companion Loan then subject to this Agreement (except as
specifically identified in any exception report annexed to such certification): (i) all documents specified in clauses (1),
(2), (3), (4) (other than with respect to the Non-Serviced Mortgage Loan), (5), (7), (15) and (20)
(for any Mortgage Loan that is part of a Whole Loan) of the definition of “Mortgage File” are in its possession or
the Mortgage Loan Seller has otherwise satisfied the delivery requirements in accordance with the Mortgage Loan Purchase Agreement;
(ii) the recordation/filing contemplated by Section 2.01(c) of this Agreement has been completed (based solely on receipt
by the Custodian of the particular recorded/filed documents); (iii) all documents received by the Custodian with respect to such
Mortgage Loan and Trust Subordinate Companion Loan have been reviewed by the Custodian on its behalf and (A) appear regular on
their face (handwritten additions, changes or corrections shall not constitute irregularities if initialed by the Mortgagor), (B)
appear to have been executed (where appropriate) and (C) purport to relate to such Mortgage Loan and Trust Subordinate Companion
Loan; and (iv) based on the examinations referred to in Section 2.02(a) of this Agreement and this Section 2.02(b)
and only as to the foregoing documents (together with any loan agreement that has been delivered by the Mortgage Loan Seller),
the information set forth in the Mortgage Loan Schedule with respect to the items specified in clauses (iv) and (v)(B) of the definition
of “Mortgage Loan Schedule” accurately reflects the information set forth in the Mortgage File. With respect to the
items listed in clauses (2), (3), (4) and (6) of the definition of “Mortgage File” if the
original of such document is not in the Custodian’s possession because it has not been returned from the applicable recording
office, then the Custodian’s certification prepared pursuant to this Section 2.02(b) should indicate the absence of
such original. If the Custodian’s obligation to deliver the certifications contemplated in this subsection terminates because
two years have elapsed since the Closing Date, the Custodian shall deliver a comparable certification to any party hereto, the
Companion Holder and any Underwriter and any Initial Purchaser on request.

 

(c)       It
is acknowledged that none of the Trustee, the Master Servicer, the applicable Special Servicer, the Certificate Administrator or
the Custodian is under any duty or obligation to inspect, review or examine any of the documents, instruments, certificates or
other papers relating to the Loans delivered to it to determine that the same are valid, legal, effective, genuine, binding, enforceable,
sufficient or appropriate for the represented purpose or that they are other than what they purport to be on their face. Furthermore,
none of the Trustee, the Master Servicer, the applicable Special Servicer, the Certificate Administrator or the Custodian shall
have any responsibility for determining whether the text of any assignment or endorsement is in proper or recordable form, whether
the requisite recording of any document is in accordance with the requirements of any applicable jurisdiction, or whether a blanket
assignment is permitted in any applicable jurisdiction.

 

(d)       It
is understood that the scope of the Custodian’s review of the Mortgage Files is limited solely to confirming that the documents
specified in clauses (1), (2), (3), (4)

 

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(other than with respect to the Non-Serviced Mortgage Loans),
(5), (7), (15) and (20) (for any Mortgage Loan that is part of a Whole Loan) of the definition of “Mortgage
File” have been received, appear regular on their face and such additional information as will be necessary for delivering
the certifications required by Sections 2.02(a) and 2.02(b) of this Agreement.

 

(e)       If,
after the Closing Date, the Depositor comes into possession of any documents or records that constitute part of the Mortgage File
or Servicing File for any Mortgage Loan or Trust Subordinate Companion Loan, the Depositor shall promptly deliver such document
to the Custodian with a copy to the Master Servicer (if it constitutes part of the Servicing File).

 

Section
2.03     Representations, Warranties and Covenants of the Depositor; Mortgage Loan Seller’s Repurchase or
Substitution of Mortgage Loans and the Trust Subordinate Companion Loans for Defects in Mortgage Files and Breaches of
Representations and Warranties. (a) The Depositor hereby represents and warrants that:

 

(i)       The
Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, and is
duly qualified as a foreign corporation in good standing in all jurisdictions in which the ownership or lease of its property or
the conduct of its business requires such qualification (except where the failure to qualify would not have a materially adverse
effect on the consummation of any transactions contemplated by this Agreement); the Depositor has taken all necessary corporate
action to authorize the execution, delivery and performance of this Agreement by it, and has the power and authority to execute,
deliver and perform this Agreement and all the transactions contemplated hereby, including, but not limited to, the power and authority
to sell, assign and transfer the Mortgage Loans and the Trust Subordinate Companion Loans in accordance with this Agreement; the
Depositor has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this
Agreement;

 

(ii)       Assuming
the due authorization, execution and delivery of this Agreement by each other party hereto, this Agreement and all of the obligations
of the Depositor hereunder are the legal, valid and binding obligations of the Depositor, enforceable against the Depositor in
accordance with the terms of this Agreement, except as such enforcement may be limited by bankruptcy, insolvency, reorganization
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, as to any rights of indemnification hereunder,
by considerations of public policy;

 

(iii)       Neither
the execution and delivery by the Depositor of this Agreement nor the compliance by the Depositor with the provisions hereof, nor
the consummation by the Depositor of the transactions contemplated by this Agreement, will (A) conflict with or result in a breach
of, or constitute a default under, the certificate of incorporation or by-laws of the Depositor or, after giving effect to the
consents or taking of the actions contemplated by clause (B) of this paragraph (iii), any of the provisions of any law, governmental
rule, regulation, judgment, decree or order binding on the Depositor or its

 

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properties, or any of the provisions of any indenture
or agreement or other instrument to which the Depositor is a party or by which it is bound or result in the creation or imposition
of any lien, charge or encumbrance upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument
or (B) require any consent of, notice to, or filing with any person, entity or governmental body, which has not been obtained or
made by the Depositor, except where, in any of the instances contemplated by clause (A) above or this clause (B), the failure to
do so will not have a material and adverse effect on the consummation of any transactions contemplated by this Agreement;

 

(iv)       There
is no litigation, charge, investigation, action, suit or proceeding pending or, to the Depositor’s knowledge, threatened
against the Depositor in any court or by or before any other governmental agency or instrumentality the outcome of which could
be reasonably expected to materially and adversely affect the validity of the Mortgage Loans or the Trust Subordinate Companion
Loans or the ability of the Depositor to carry out the transactions contemplated by this Agreement;

 

(v)       The
Depositor is not transferring the Mortgage Loans and the Trust Subordinate Companion Loans to the Trustee with any intent to hinder,
delay or defraud its present or future creditors;

 

(vi)       No
proceedings looking toward merger, liquidation, dissolution or bankruptcy of the Depositor are pending or contemplated;

 

(vii)       Immediately
prior to the transfer of the Mortgage Loans and the Trust Subordinate Companion Loans to the Trustee for the benefit of the Certificateholders
pursuant to this Agreement, the Depositor had such right, title and interest in and to each Mortgage Loan and Trust Subordinate
Companion Loan as was transferred to it by the Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement;

 

(viii)       The
Depositor has not transferred any of its right, title and interest in and to the Mortgage Loans and the Trust Subordinate Companion
Loans (as such was transferred to it by the Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement) to any Person
other than the Trustee; and

 

(ix)       The
Depositor is transferring all of its right, title and interest in and to the Mortgage Loans and the Trust Subordinate Companion
Loans (as such was transferred to it by the Mortgage Loan Seller pursuant to the Mortgage Loan Purchase Agreement) to the Trustee
for the benefit of the Certificateholders free and clear of any and all liens, pledges, charges, security interests and other encumbrances
created by or through the Depositor.

 

(b)       If
the Depositor, the Master Servicer, the applicable Special Servicer, the Trustee, the Certificate Administrator or the Operating
Advisor (solely in its capacity as operating advisor) discovers (without implying any duty of such person to make, or to attempt
to make, such a discovery) or receives notice alleging (A) that any document constituting a part of a Mortgage File has not been
properly executed, is missing, contains information that does not conform in any material respect with the corresponding information
set forth in the Mortgage

 

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Loan Schedule, or does not appear to be regular on its face (each, a “Document Defect”)
or (B) a breach of any representation or warranty of the Mortgage Loan Seller made pursuant to Section 6(c) of the Mortgage Loan
Purchase Agreement with respect to any Mortgage Loan or Trust Subordinate Companion Loan (a “Breach”), then
such Person shall give prompt written notice thereof to the Mortgage Loan Seller, the Directing Holder (prior to the occurrence
and continuance of a Consultation Termination Event), the other parties hereto, any related Companion Holder (if applicable) and,
subject to Section 13.10 of this Agreement, each of the Rating Agencies (to the extent notice has not previously been delivered
to such Persons pursuant to this sentence). If any such Document Defect or Breach materially and adversely affects, or any such
Document Defect is deemed in accordance with Section 2.03(c) of this Agreement to materially and adversely affect, the value
of the related Mortgage Loan or Trust Subordinate Companion Loan (or any related REO Property) or the interests of the Certificateholders
therein or causes any Mortgage Loan (and/or the Trust Subordinate Companion Loan, as the case may be) to fail to be a Qualified
Mortgage, then such Document Defect shall constitute a “Material Document Defect” or such Breach shall constitute
a “Material Breach”; and a Material Breach and/or a Material Document Defect, as the case may be, shall constitute
a “Material Defect”) as the case may be. The Master Servicer (with respect to Non-Specially Serviced Mortgage
Loans) or the applicable Special Servicer (with respect to Specially Serviced Mortgage Loans) shall determine, with respect to
any affected Mortgage Loan or REO Loan or Trust Subordinate Companion Loan, as applicable, whether a Document Defect or a Breach
is a Material Defect. The Master Servicer or the applicable Special Servicer may (but will not be obligated to) consult with the
Master Servicer or the applicable Special Servicer regarding any determination of a Material Defect for a Non-Specially Serviced
Mortgage Loan. If such Document Defect or Breach has been determined to be a Material Defect then the Enforcing Servicer shall
give prompt written notice thereof to the Mortgage Loan Seller, the other parties hereto and (for so long as no Consultation Termination
Event is continuing) the Directing Holder. Promptly upon becoming aware of any Material Defect (including through a written notice
given by any party to this Agreement), the Master Servicer (if the related Mortgage Loan is a Performing Loan) or applicable Special
Servicer (if the related Mortgage Loan is a Specially Serviced Mortgage Loan), as applicable, shall require the Mortgage Loan Seller,
not later than 90 days from the earlier of (a) the earlier of the Mortgage Loan Seller’s discovery or receipt of notice of,
and receipt of a demand to take action with respect to, such Material Defect, or (b) in the case of a Material Defect relating
to a Mortgage Loan not being a Qualified Mortgage, any party’s discovery of such Material Defect (such 90-day period, the
“Initial Cure Period”), to (i) cure such Material Defect in all material respects (which cure shall include
payment of losses and any Additional Trust Fund Expenses associated therewith, including the amount of any fees and reimbursable
expenses of the Asset Representations Reviewer attributable to the Asset Review of such Mortgage Loan or Trust Subordinate Companion
Loan) (ii) repurchase the affected Mortgage Loan or REO Loan (or the Trust’s interest therein with respect to any Mortgage
Loan that is part of a Whole Loan) at the applicable Purchase Price by wire transfer of immediately available funds to the Collection
Account or (iii) substitute a Qualified Substitute Mortgage Loan (other than with respect to the related Whole Loans, for which
no substitution shall be permitted) for such affected Mortgage Loan (provided that in no event shall any such substitution
occur later than the second anniversary of the Closing Date) and pay the Master Servicer for deposit into the Collection Account,
any Substitution Shortfall Amount in connection therewith, all in conformity with the Mortgage Loan Purchase Agreement and this
Agreement; provided, that the

 

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Mortgage Loan Seller shall not repurchase the Trust Subordinate Companion Loan without repurchasing
the related Mortgage Loan and shall not repurchase a Mortgage Loan without repurchasing any related Trust Subordinate Companion
Loan; provided, however, that if (i) such Material Defect is capable of being cured but not within such Initial Cure
Period, (ii) such Material Defect is not related to any Mortgage Loan’s not being a Qualified Mortgage and (iii) the Mortgage
Loan Seller has commenced and is diligently proceeding with the cure of such Material Defect within such Initial Cure Period, then
the Mortgage Loan Seller shall have an additional 90 days (such additional 90-day period, the “Extended Cure Period”)
to complete such cure or, in the event of a failure to so cure, to complete such repurchase or substitution (it being understood
and agreed that, in connection with the Mortgage Loan Seller’s receiving such Extended Cure Period, the Mortgage Loan Seller
shall deliver an Officer’s Certificate to the Trustee, the Master Servicer, the applicable Special Servicer, the Operating
Advisor and the Certificate Administrator setting forth the reasons such Material Defect was not cured within the Initial Cure
Period and what actions the Mortgage Loan Seller is pursuing in connection with the cure of such Material Defect and stating that
the Mortgage Loan Seller anticipates that such Material Defect will be cured within such Extended Cure Period); and provided,
further, that, if any such Material Defect is still not cured after the Initial Cure Period and any such Extended Cure Period
solely due to the failure of the Mortgage Loan Seller to have received the recorded document, then the Mortgage Loan Seller shall
be entitled to continue to defer its cure, repurchase or substitution obligations in respect of such Document Defect so long as
the Mortgage Loan Seller certifies to the Trustee, the Master Servicer, the applicable Special Servicer, the Operating Advisor
and the Certificate Administrator every 30 days thereafter that the Document Defect is still in effect solely because of its failure
to have received the recorded document and that the Mortgage Loan Seller is diligently pursuing the cure of such defect (specifying
the actions being taken), except that no such deferral of cure, repurchase or substitution may continue beyond the date that is
18 months following the Closing Date. If the affected Mortgage Loan or Trust Subordinate Companion Loan is to be repurchased, the
Master Servicer shall designate the Collection Account as the account to which funds in the amount of the Purchase Price are to
be wired. If the affected Mortgage Loan or Trust Subordinate Companion Loan is to be substituted for, the Master Servicer shall
designate the Collection Account as the account to which funds in the amount of the Substitution Shortfall Amount are to be wired.
Any such repurchase or substitution of a Mortgage Loan or Trust Subordinate Companion Loan shall be on a whole loan, servicing
released basis. Periodic Payments due with respect to each Qualified Substitute Mortgage Loan (if any) after the related Due Date
in the month of substitution, and Periodic Payments due with respect to each Mortgage Loan or Trust Subordinate Companion Loan
being repurchased or replaced, and received by the Master Servicer or the applicable Special Servicer on behalf of the Trust, after
the related Cut-off Date through, but not including, the related date of repurchase or substitution, shall be part of the Trust
Fund. Periodic Payments due with respect to each Qualified Substitute Mortgage Loan (if any) on or prior to the related Due Date
in the month of substitution, and Periodic Payments due with respect to each Mortgage Loan or Trust Subordinate Companion Loan
being repurchased or replaced and received by the Master Servicer or the applicable Special Servicer on behalf of the Trust after
the related date of repurchase or substitution, shall not be part of the Trust Fund and are to be remitted by the Master Servicer
to the Mortgage Loan Seller effecting the related repurchase or substitution within two Business Days following receipt of properly
identified and available funds constituting such Periodic Payment. From and after the date of substitution, each

 

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Qualified Substitute
Mortgage Loan, if any, that has been substituted shall be deemed to constitute a “Mortgage Loan” hereunder for all
purposes. Notwithstanding the foregoing, if a Mortgage Loan is not secured by a Mortgaged Property that is, in whole or in part,
a hotel, restaurant (operated by a Mortgagor), healthcare facility, nursing home, assisted living facility, theatre or fitness
center (operated by a Mortgagor), then the failure to deliver to the Custodian copies of the UCC financing statements with respect
to such Mortgage Loan shall not be a Material Defect.

 

If the Mortgage Loan
Seller, in connection with a Material Defect (or an allegation of a Material Defect) pertaining to a Mortgage Loan or Trust Subordinate
Companion Loan, makes a cash payment pursuant to an agreement or a settlement between the Mortgage Loan Seller and the Master Servicer
(in the case of Non-Specially Serviced Mortgage Loans) or the applicable Special Servicer (in the case of Specially Serviced Mortgage
Loans) on behalf of the Trust (and in each case, with respect to any Mortgage Loan or Trust Subordinate Companion Loan other than
an Excluded Loan, with the consent of the Directing Holder if no Control Termination Event has occurred and is continuing) (each
such payment, a “Loss of Value Payment”) with respect to such Mortgage Loan or Trust Subordinate Companion Loan,
the amount of such Loss of Value Payment shall be deposited into the Loss of Value Reserve Fund to be applied in accordance with
Section 3.05(g) of this Agreement. The applicable Special Servicer shall determine the amount of any applicable Loss of
Value Payment (with the consent of the Directing Holder in respect of any Mortgage Loan or Trust Subordinate Companion Loan that
is not an Excluded Loan and for so long as no Control Termination Event has occurred and is continuing) and, in the case of any
Repurchase Request with respect to Non-Specially Serviced Mortgage Loans prior to the occurrence of a Resolution Failure, shall
communicate such amount to the Master Servicer for its enforcement action with the Mortgage Loan Seller. In connection with any
such determination with respect to any Non-Specially Serviced Mortgage Loan, the Master Servicer shall promptly provide the applicable
Special Servicer but in any event within the time frame and in the manner provided in Section 3.19, with the Servicing File
and all information, documents and records (including records stored electronically on computer tapes, magnetic discs and the like)
relating to such Non-Specially Serviced Mortgage Loan and, if applicable, the related Serviced Companion Loan, either in the Master
Servicer’s possession or otherwise reasonably available to the Master Servicer, and reasonably requested by the applicable
Special Servicer to the extent set forth in Section 3.19 in order to permit the applicable Special Servicer to calculate
the Loss of Value Payment as set forth in this Section 2.03(b). The Loss of Value Payment shall include the portion of any
Liquidation Fees payable to the applicable Special Servicer in respect of such Loss of Value Payment and the portion of fees and
reimbursable expenses of the Asset Representations Reviewer attributable to the Asset Review of such Mortgage Loan or Trust Subordinate
Companion Loan. If such Loss of Value Payment is made, the Loss of Value Payment shall serve as the sole remedy available to the
Certificateholders and the Trustee on their behalf regarding any such Material Defect in lieu of any obligation of the Mortgage
Loan Seller to otherwise cure such Material Defect or repurchase or substitute for the affected Mortgage Loan or Trust Subordinate
Companion Loan based on such Material Defect under any circumstances. This paragraph is intended to apply only to a mutual agreement
or settlement between the Mortgage Loan Seller and the Master Servicer (in the case of Non-Specially Serviced Mortgage Loans) or
the applicable Special Servicer (in the case of Specially Serviced Mortgage Loans) on behalf of the Trust, provided, that
(i) prior to any such agreement or settlement nothing in this paragraph shall preclude the Mortgage Loan Seller,

 

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the Master Servicer
or the applicable Special Servicer, from exercising any of its rights related to a Material Defect in the manner and timing set
forth in the Mortgage Loan Purchase Agreement or this Section 2.03 (excluding this paragraph) (including any right to cure,
repurchase or substitute for such Mortgage Loan or Trust Subordinate Companion Loan), (ii) such Loss of Value Payment shall not
be greater than the Purchase Price of the affected Mortgage Loan; and (iii) a Material Defect as a result of a Mortgage Loan or
Trust Subordinate Companion Loan not constituting a “qualified mortgage” within the meaning of Section 860G(a)(3) of
the Code (but without regard to the rule of Treasury Regulations Section 1.860G-2(f)(2) that causes a defective Mortgage Loan or
Trust Subordinate Companion Loan to be treated as a qualified mortgage) may not be cured by a Loss of Value Payment.

 

The cure, repurchase
and substitution obligations or the obligation to pay the Loss of Value Payment described herein will constitute the sole remedy
available to the certificateholders in connection with a material breach of any representation or warranty or a material document
defect with respect to any Mortgage Loan or Trust Subordinate Companion Loan. None of the Depositor, the Underwriters, the Master
Servicer, the applicable Special Servicer the Trustee, the Certificate Administrator or any other person will be obligated to repurchase
or replace any affected Mortgage Loan or Trust Subordinate Companion Loan or make a Loss of Value Payment in connection with a
breach of any of the representations and warranties or a document defect if the Mortgage Loan Seller defaults on its obligations
to do so.

 

If the applicable Special
Servicer or the Depositor receives (i) a Repurchase Communication of a request or demand for repurchase or replacement of any Mortgage
Loan or Trust Subordinate Companion Loan alleging a Document Defect or Breach (any such request or demand, a “15Ga-1 Repurchase
Request”) or (ii) a Repurchase Communication of a withdrawal of a 15Ga-1 Repurchase Request of which notice has been
previously received or given and which withdrawal is by the Person making such Repurchase Request (a “Repurchase Request
Withdrawal”), such party shall give written notice of such Repurchase Request Withdrawal to the Mortgage Loan Seller,
the other parties hereto, the Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event), any
Companion Holder (if applicable) and, subject to Section 13.10 of this Agreement, each of the Rating Agencies (to the extent
notice has not previously been delivered to such Persons pursuant to this sentence). If the applicable Special Servicer receives
a Repurchase Communication that any Mortgage Loan or Trust Subordinate Companion Loan that was subject of a 15Ga-1 Repurchase Request
has been repurchased or replaced (a “Repurchase”), or that such 15Ga-1 Repurchase Request has been rejected
(a “Repurchase Request Rejection”), then the applicable Special Servicer shall (in accordance with the following
paragraph) give written notice of such Repurchase or Repurchase Request Rejection to the Depositor, the Mortgage Loan Seller unless
it is the entity that has repurchased or replaced the subject Mortgage Loan or rejected such 15Ga-1 Repurchase Request, and unless
it is the party that notified the applicable Special Servicer thereof, the Certificate Administrator and the Trustee.

 

Each notice of a 15Ga-1
Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection required to be given by a party pursuant
to this Section 2.03(b) (each, a “15Ga-1 Notice”) shall be given no later than ten (10) Business Days
after receipt of a Repurchase Communication of such 15Ga-1 Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase
Request Rejection, as applicable, and shall

 

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include (i) the identity of the related Mortgage Loan, (ii) the date that the Repurchase
Communication regarding the 15Ga-1 Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection
was received, as applicable, (iii) if known, the basis for the 15Ga-1 Repurchase Request (as asserted in the 15Ga-1 Repurchase
Request) and (iv) in the case of 15Ga-1 Notices provided by the applicable Special Servicer with respect to a 15Ga-1 Repurchase
Request, a statement as to whether the applicable Special Servicer currently plans to pursue such 15Ga-1 Repurchase Request.

 

If the Trustee, the Certificate
Administrator, the Master Servicer, the Operating Advisor, the Asset Representations Reviewer or the Custodian receives a Repurchase
Communication of a 15Ga-1 Repurchase Request, a Repurchase Request Withdrawal, a Repurchase or a Repurchase Request Rejection,
then such party shall promptly forward such Repurchase Communication of such 15Ga-1 Repurchase Request, Repurchase Request Withdrawal,
Repurchase or Repurchase Request Rejection to the applicable Special Servicer (with respect to any Mortgage Loan or REO Loan) and,
prior to the occurrence and continuance of a Consultation Termination Event, the Directing Holder, and include the following statement
in the related correspondence: “This is a Repurchase Communication regarding [a “15Ga-1 Repurchase Request”]
[a “Repurchase Request Withdrawal”] [a “Repurchase”] [a “Repurchase Request Rejection”] under
Section 2.03(b) of the Pooling and Servicing Agreement relating to the GS Mortgage Securities Trust 2016-GS4 Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4, requiring action by you as the recipient of such [15Ga-1 Repurchase Request] [Repurchase
Request Withdrawal] [Repurchase] [Repurchase Request Rejection] thereunder”. Upon receipt of any Repurchase Communication
of a 15Ga-1 Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection by the applicable Special
Servicer pursuant to the foregoing provisions of this paragraph, the applicable Special Servicer shall be deemed to be the recipient
of such Repurchase Communication of such 15Ga-1 Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request
Rejection, and the applicable Special Servicer shall comply with the notice procedures set forth in the preceding paragraphs of
this Section 2.03(b) with respect to such Repurchase Communication of such 15Ga-1 Repurchase Request, Repurchase Request
Withdrawal, Repurchase or Repurchase Request Rejection.

 

No Person that is required
to provide a 15Ga-1 Notice pursuant to this Section 2.03(b) (a “15Ga-1 Notice Provider”) shall be required
to provide any information in a 15Ga-1 Notice protected by the attorney-client privilege or attorney work product doctrines. The
Mortgage Loan Purchase Agreement will provide that (i) any 15Ga-1 Notice provided pursuant to this Section 2.03(b) is so
provided only to assist the Mortgage Loan Seller, the Depositor and their respective Affiliates to comply with Rule 15Ga-1, Items
1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii)(A) no action taken by, or inaction of, a
15Ga-1 Notice Provider and (B) no information provided pursuant to this Section 2.03(b) by a 15Ga-1 Notice Provider in a
15Ga-1 Notice shall be deemed to constitute a waiver or defense to the exercise of any legal right the 15Ga-1 Notice Provider may
have with respect to the Mortgage Loan Purchase Agreement, including with respect to any 15Ga-1 Repurchase Request that is the
subject of a 15Ga-1 Notice.

 

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On or before the Closing
Date, the Depositor shall deliver to the Master Servicer a copy of the Mortgage Loan Purchase Agreement, which the Master Servicer
shall provide to each Sub-Servicer.

 

Contemporaneously with
its execution of this Agreement, the Depositor shall cause the Mortgage Loan Seller to deliver a power of attorney substantially
in the form of Exhibit G to the Mortgage Loan Purchase Agreement to each Special Servicer, that permits such parties to
take such other action as is necessary to effect the delivery, assignment and/or recordation of any documents and/or instruments
relating to any Mortgage Loan which have not been delivered, assigned or recorded at the time required for enforcement by the Trust
Fund. Pursuant to the Mortgage Loan Purchase Agreement, the Mortgage Loan Seller will be required to effect (at the expense of
the Mortgage Loan Seller) the assignment and recordation of its respective Mortgage Loan documents until the assignment and recordation
of all such Mortgage Loan documents has been completed.

 

With respect to each
Non-Serviced Mortgage Loan, the parties to this Agreement agree that if a “material document defect” exists with respect
to a Non-Serviced Companion Loan under the Other Pooling and Servicing Agreement and the Mortgage Loan Seller (or other responsible
repurchasing entity) repurchases the related Companion Loan pursuant to the Other Pooling and Servicing Agreement, the Mortgage
Loan Seller shall also repurchase such Non-Serviced Mortgage Loan; provided, however, that such repurchase obligation does not
apply to any “material document defect” related solely to the promissory note for such Companion Loan.

 

(c)       Subject
to the Mortgage Loan Seller’s right to cure as contemplated in this Section 2.03, and further subject to Section
2.01(b) and Section 2.01(c) of this Agreement, failure of the Mortgage Loan Seller to deliver the documents referred
to in clauses (1), (2), (7), (8), (18) and (19) in the definition of “Mortgage
File” in accordance with this Agreement and the Mortgage Loan Purchase Agreement for any Mortgage Loan or Trust Subordinate
Companion Loan shall be deemed a Material Document Defect; provided, however, that no Document Defect (except a deemed
Material Document Defect described above) shall be considered to be a Material Document Defect unless the document with respect
to which the Document Defect exists is required in connection with an imminent enforcement of the lender’s rights or remedies
under the related Mortgage Loan or Trust Subordinate Companion Loan, defending any claim asserted by any Mortgagor or third party
with respect to the Mortgage Loan or Trust Subordinate Companion Loan, establishing the validity or priority of any lien on any
collateral securing the Mortgage or Trust Subordinate Companion Loan or for any immediate significant servicing obligation.

 

(d)       In
connection with any repurchase of, or substitution of a Qualified Substitute Mortgage Loan for, a Mortgage Loan or a Trust Subordinate
Companion Loan pursuant to this Section 2.03, the Trustee, the Certificate Administrator, the Custodian, the Master Servicer
and the applicable Special Servicer shall each tender to the Mortgage Loan Seller, upon delivery to each of them of a receipt executed
by the Mortgage Loan Seller evidencing such repurchase or substitution, all portions of the Mortgage File and other documents (including,
without limitation, the Servicing File), and all escrows and reserve funds, pertaining to such Mortgage Loan or Trust Subordinate
Companion Loan possessed by it, and each document that constitutes a part of the Mortgage File shall be endorsed or assigned to
the

 

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extent necessary or appropriate to the Mortgage Loan Seller or its designee in the same manner, but only if the respective
documents have been previously assigned or endorsed to the Trustee, and pursuant to appropriate forms of assignment, substantially
similar to the manner and forms pursuant to which such documents were previously assigned to the Trustee on behalf of the Trust
or as otherwise reasonably requested to effect the retransfer and reconveyance of the Mortgage Loan or Trust Subordinate Companion
Loan and the security thereof to the Mortgage Loan Seller or its designee; provided that such tender by the Trustee and
the Custodian shall be conditioned upon its receipt (and such receipt shall be deemed to be the Master Servicer’s direction
to the Trustee and the Custodian to) from the Master Servicer of a Request for Release and an Officer’s Certificate to the
effect that the requirements for repurchase or substitution have been satisfied. The Master Servicer shall, and is hereby authorized
and empowered by the Trustee to, prepare, execute and deliver in its own name, on behalf of the Certificateholders and the Trustee
or any of them, the endorsements and assignments contemplated by this Section 2.03(d), and such other instruments as may
be necessary or appropriate to transfer title to an REO Property (including with respect to the Non-Serviced Mortgage Loans) in
connection with the repurchase of, or substitution for, an REO Loan and the Trustee shall execute and deliver any powers of attorney
necessary to permit the Master Servicer to do so; provided, however, that the Trustee shall not be held liable for
any misuse of any such power of attorney by the Master Servicer or any of its agents or subcontractors. The parties to this Agreement
acknowledge that the Mortgage Loan Purchase Agreement provides that in the event a Qualified Substitute Mortgage Loan is substituted
for a Mortgage Loan or Trust Subordinate Companion Loan by the related Mortgage Loan Seller as contemplated by this Section
2.03, the Mortgage Loan Seller will be required to deliver to the Custodian the Mortgage File and to the Master Servicer all
Escrow Payments and reserve funds pertaining to such Qualified Substitute Mortgage Loan possessed by it and a certification to
the effect that such Qualified Substitute Mortgage Loan satisfies all of the requirements of the definition of “Qualified
Substitute Mortgage Loan” in this Agreement.

 

(e)       The
Mortgage Loan Purchase Agreement provides the sole remedies available to the Certificateholders, or the Certificate Administrator
or the Trustee on behalf of the Certificateholders, respecting any Document Defect or Breach with respect to any Mortgage Loan
or Trust Subordinate Companion Loan.

 

(f)       If
(i) any Crossed Underlying Loan is required to be repurchased or substituted for in the manner described in this Section 2.03
and (ii) the applicable Material Defect does not constitute a Material Defect, as to any other Crossed Underlying Loan in the related
Crossed Mortgage Loan Group (without regard to this paragraph), then the applicable Material Defect will be deemed to constitute
a Material Defect or Breach as to any other Crossed Underlying Loan in the related Crossed Mortgage Loan Group for purposes of
this paragraph, and the Mortgage Loan Seller will be required to repurchase or substitute for such other Crossed Underlying Loan(s)
in the related Crossed Mortgage Loan Group as provided in Section 2.03(b) unless such other Crossed Underlying Loans satisfy
the Crossed Underlying Loan Repurchase Criteria. In the event that the remaining Crossed Underlying Loans in such Crossed Mortgage
Loan Group satisfy the aforementioned criteria, the Mortgage Loan Seller may elect either to repurchase or substitute for only
the affected Crossed Underlying Loan(s) as to which the related Material Defect exists or to repurchase or substitute for all of
the Crossed Underlying Loans in the related Crossed Mortgage Loan Group. Any reserve or other cash collateral or letters of credit
securing the Crossed Underlying Loans shall be allocated among the related Crossed

 

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Underlying Loans in accordance with the related
Mortgage Loan documents or otherwise on a pro rata basis based upon their outstanding Stated Principal Balances. Except
as provided in this Section 2.03(f) and Section 2.03(g), all other terms of the related Mortgage Loans shall remain
in full force and effect without any modification thereof.

 

(g)       Notwithstanding
the foregoing, if the related Mortgage provides for the partial release of one or more of the Crossed Underlying Loans, the Depositor
may cause the Mortgage Loan Seller to repurchase only that Crossed Underlying Loan required to be repurchased pursuant to this
Section 2.03, pursuant to the partial release provisions of the related Mortgage; provided, however, that
(i) the remaining related Crossed Underlying Loan(s) fully comply with the terms and conditions of the related Mortgage, this Agreement
and the Mortgage Loan Purchase Agreement, including the Crossed Underlying Loan Repurchase Criteria, (ii) in connection with such
partial release, the Mortgage Loan Seller obtains an Opinion of Counsel (at the Mortgage Loan Seller’s expense) to the effect
that the contemplated action will not cause an Adverse REMIC Event and (iii) in connection with such partial release, the Mortgage
Loan Seller delivers or causes to be delivered to the Custodian original modifications to the Mortgage prepared and executed in
connection with such partial release.

 

(h)       With
respect to any Crossed Underlying Loan, to the extent that the Mortgage Loan Seller is required to repurchase or substitute for
such Crossed Underlying Loan in the manner prescribed in Section 2.03(b) while the Trustee continues to hold any other Crossed
Underlying Loans in the related Crossed Mortgage Loan Group, the Mortgage Loan Seller and the Master Servicer or, with respect
to a Specially Serviced Mortgage Loan, the applicable Special Servicer, on behalf of the Trustee, as assignee of the Depositor,
will, as set forth in the Mortgage Loan Purchase Agreement, forbear from enforcing any remedies against the other’s Primary
Collateral but each will be permitted to exercise remedies against the Primary Collateral securing its respective related Mortgage
Loans, including with respect to the Trustee, the Primary Collateral securing the Mortgage Loans still held by the Trustee, so
long as such exercise does not materially impair the ability of the other party to exercise its remedies against its Primary Collateral.
If the exercise of the remedies by one party would materially impair the ability of the other party to exercise its remedies with
respect to the Primary Collateral securing the Crossed Underlying Loans held by such party, then both parties have agreed in the
Mortgage Loan Purchase Agreement to forbear from exercising such remedies until the Mortgage Loan documents evidencing and securing
the relevant Mortgage Loan can be modified in a manner that complies with the Mortgage Loan Purchase Agreement to remove the threat
of material impairment as a result of the exercise of remedies.

 

(i)       (i)
In the event an Initial Requesting Certificateholder delivers a written request to the Depositor, the Master Servicer, the applicable
Special Servicer, the Trustee, the Certificate Administrator, the Certificate Registrar, the Operating Advisor (solely in its capacity
as the Operating Advisor) or the Custodian that a Mortgage Loan or Trust Subordinate Companion Loan be repurchased by the Mortgage
Loan Seller alleging the existence of a Material Defect with respect to such Mortgage Loan or Trust Subordinate Companion Loan
and setting forth the basis for such allegation (a “Certificateholder Repurchase Request”), such party shall
promptly forward that Certificateholder Repurchase Request to the Master Servicer and the applicable Special Servicer, and the
Enforcing Servicer, shall promptly forward that Certificateholder Repurchase Request to the Mortgage Loan Seller and each other
party to this

 

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Agreement and take the actions required under Section 2.03(j). Subject to Section 2.03(j), the Enforcing
Servicer shall be the Enforcing Party with respect to the Certificateholder Repurchase Request. If a Resolution Failure occurs
with respect to the Certificateholder Repurchase Request, the provisions described in Section 2.03(j)(i) shall apply.

 

(ii)       In
the event that the Depositor, the Master Servicer, the applicable Special Servicer, the Trustee, the Certificate Administrator
or the Operating Advisor (solely in its capacity as Operating Advisor) has knowledge of a Material Defect with respect to a Mortgage
Loan or Trust Subordinate Companion Loan, that party shall deliver prompt written notice of such Material Defect to each other
party to this Agreement, identifying the applicable Mortgage Loan or Trust Subordinate Companion Loan and setting forth the basis
for such allegation (a “PSA Party Repurchase Request” and, each of a Certificateholder Repurchase Request or
a PSA Party Repurchase Request, a “Repurchase Request”), and the Enforcing Servicer shall promptly forward such
PSA Party Repurchase Request to the Mortgage Loan Seller. Subject to Section 2.03(j), the Enforcing Servicer shall be the
Enforcing Party with respect to the PSA Party Repurchase Request. If a Resolution Failure occurs with respect to the PSA Party
Repurchase Request, the provisions described below under Section 2.03(j) shall apply.

 

(iii)       In
the event the Repurchase Request is not Resolved within 180 days after the Mortgage Loan Seller receives the Repurchase Request
(a “Resolution Failure”) shall be deemed to have occurred. Receipt of the Repurchase Request shall be
deemed to occur two (2) Business Days after the Repurchase Request is sent to the Mortgage Loan Seller.

 

(iv)       Within
two (2) Business Days after a Resolution Failure occurs with respect to a Repurchase Request made by any Person other than the
applicable Special Servicer, the Controlling Class Representative or a Controlling Class Certificateholder relating to a Non-Specially
Serviced Mortgage Loan, the Master Servicer shall send a written notice (a “Master Servicer Proposed Course of Action
Notice”) to the applicable Special Servicer, indicating the Master Servicer’s analysis and recommended course of
action with respect to such Repurchase Request, along with the Servicing File and all information, documents and records (including
records stored electronically on computer tapes, magnetic discs and the like) relating to such Non-Specially Serviced Mortgage
Loan and, if applicable, the related Serviced Companion Loan, either in the Master Servicer’s possession or otherwise reasonably
available to the Master Servicer, and reasonably requested by the applicable Special Servicer to enable it to assume its duties
hereunder to the extent set forth in this Agreement for such Non-Specially Serviced Mortgage Loan. Upon receipt of such Master
Servicer Proposed Course of Action Notice and such Servicing File, the applicable Special Servicer shall become the Enforcing Servicer
with respect to such Repurchase Request.

 

(j)       (i)
After a Resolution Failure occurs with respect to a Repurchase Request regarding a Mortgage Loan or Trust Subordinate Companion
Loan (whether the Repurchase Request was initiated by an Initial Requesting Certificateholder or by a party to this Agreement),
the Enforcing Servicer will be required to send a notice (a “Proposed Course of Action Notice”) to the Initial
Requesting Certificateholder, if any, to the address specified in the Initial

 

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Requesting Certificateholder’s Repurchase Request,
and to the Certificate Administrator, who shall make such notice available to all other Certificateholders and Certificate Owners
(by posting such notice on the Certificate Administrator’s Website) indicating the Enforcing Servicer’s intended course
of action with respect to the Repurchase Request (the “Proposed Course of Action”). If the Master Servicer is
the Enforcing Servicer, the Master Servicer may (but shall not be obligated to) consult with the applicable Special Servicer and
(for so long as no Consultation Termination Event has occurred) the Directing Holder regarding any Proposed Course of Action. Such
notice shall include (a) a request to Certificateholders to indicate their agreement with or dissent from such Proposed Course
of Action by clearly marking “agree” or “disagree” to the Proposed Course of Action on such notice within
30 days of the date of such notice and a disclaimer that responses received after such 30-day period will not be taken into consideration,
(b) a statement that in the event any Certificateholder disagrees with the Proposed Course of Action, the Enforcing Servicer (either
as the Enforcing Party or as the Enforcing Servicer in circumstances where a Certificateholder is acting as the Enforcing Party)
shall be compelled to follow (either as the Enforcing Party or as the Enforcing Servicer in circumstances where a Certificateholder
is acting as the Enforcing Party) the course of action agreed to and/or proposed by the majority of the responding Certificateholders
that involves referring the matter to mediation or arbitration, as the case may be, (c) a statement that responding Certificateholders
will be required to certify their holdings in connection with such response, (d) a statement that only responses clearly marked
“agree” or “disagree” with such Proposed Course of Action will be taken into consideration and (e) instructions
for responding Certificateholders to send their responses to the Enforcing Servicer and the Certificate Administrator. The Certificate
Administrator shall, within three (3) Business Days after the expiration of the 30-day response period, tabulate the responses
received from the Certificateholders and share the results with the Enforcing Servicer. The Certificate Administrator shall only
count responses timely received that clearly indicate agreement or dissent with the related Proposed Course of Action and additional
verbiage or qualifying language shall not be taken into consideration for purposes of determining whether the related Certificateholder
agrees or disagrees with the Proposed Course of Action. The Certificate Administrator shall be under no obligation to answer any
questions from Certificateholders regarding such Proposed Course of Action. For the avoidance of doubt, the Certificate Administrator’s
obligations in connection with this Section 2.03(j) shall be limited solely to tabulating Certificateholder responses of
“agree” or “disagree” to the Proposed Course of Action, and such obligation shall not be construed to impose
any enforcement obligation on the Certificate Administrator. The Enforcing Servicer may conclusively rely (without investigation)
on the Certificate Administrator’s tabulation of the majority of the responding Certificateholders. If (a) the Enforcing
Servicer’s intended course of action with respect to the Repurchase Request does not involve pursuing further action to exercise
rights against the Mortgage Loan Seller with respect to the Repurchase Request and the Initial Requesting Certificateholder, if
any, or any other Certificateholder or Certificate Owner wishes to exercise its right to refer the matter to mediation (including
nonbinding arbitration) or arbitration, or (b) the Enforcing Servicer’s intended course of action is to pursue further action
to exercise rights against the Mortgage Loan Seller with respect to the Repurchase Request but the Initial Requesting Certificateholder,
if any, or any other Certificateholder or Certificate Owner does not agree with the dispute resolution method selected by the Enforcing
Servicer, then the Initial Requesting Certificateholder, if any, or such other Certificateholder or Certificate Owner may deliver
to the Enforcing Servicer a written notice (a “Preliminary Dispute Resolution Election

 

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Notice”) within 30 days
from the date the Proposed Course of Action Notice is posted on the Certificate Administrator’s Website (the “Dispute
Resolution Cut-off Date”) indicating its intent to exercise its right to refer the matter to either mediation or arbitration.
In the event any Certificateholder or Certificate Owner delivers a Preliminary Dispute Resolution Election Notice, and the Enforcing
Servicer has also received responses from other Certificateholders or Certificate Owners supporting the Enforcing Servicer’s
initial Proposed Course of Action indicating a recommendation to undertake mediation or arbitration, such responses shall be considered
Preliminary Dispute Resolution Election Notices supporting the Proposed Course of Action for purposes of determining the course
of action proposed by the majority of Certificateholders.

 

(ii)       If
neither the Initial Requesting Certificateholder, if any, nor any other Certificateholder or Certificate Owner delivers a Preliminary
Dispute Resolution Election Notice prior to the Dispute Resolution Cut-off Date, no Certificateholder or Certificate Owner shall
have the right to refer the Repurchase Request to mediation or arbitration, and the Enforcing Servicer, as the Enforcing Party,
shall be the sole party obligated and entitled to determine a course of action, including but not limited to, enforcing the Trust’s
rights against the Mortgage Loan Seller, subject to any consent or consultation rights of the Directing Holder pursuant to Section
6.08.

 

(iii)       Promptly
and in any event within 10 Business Days following receipt of a Preliminary Dispute Resolution Election Notice from (a) the Initial
Requesting Certificateholder, if any, or (b) any other Certificateholder or Certificate Owner (each of clauses (a) or (b),
a “Requesting Certificateholder”), the Enforcing Servicer will be required to consult with each Requesting Certificateholder
regarding such Requesting Certificateholder’s intention to elect either mediation (including nonbinding arbitration) or arbitration
as the dispute resolution method with respect to the Repurchase Request (the “Dispute Resolution Consultation”)
so that such Requesting Certificateholder may consider the views of the Enforcing Servicer as to the claims underlying the Repurchase
Request and possible dispute resolution methods, such discussions to occur and be completed no later than 10 Business Days following
the Dispute Resolution Cut-off Date. The Enforcing Servicer shall be entitled to establish procedures the Enforcing Servicer deems
in good faith to be in accordance with the Servicing Standard relating to the timing and extent of such consultations. No later
than 5 Business Days after completion of the Dispute Resolution Consultation, a Requesting Certificateholder may provide a final
notice to the Enforcing Servicer indicating its decision to exercise its right to refer the matter to either mediation or arbitration
(“Final Dispute Resolution Election Notice”).

 

(iv)       If,
following the Dispute Resolution Consultation, no Requesting Certificateholder timely delivers a Final Dispute Resolution Election
Notice to the Enforcing Servicer, then the Enforcing Servicer will continue to act as the Enforcing Party and remain obligated
under this Agreement to determine a course of action, including but not limited to, enforcing the rights of the Trust with respect
to the Repurchase Request and no Certificateholder or Certificate Owner shall have any further right to elect to refer the matter
to mediation or arbitration.

 

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(v)       If
a Requesting Certificateholder timely delivers a Final Dispute Resolution Election Notice to the Enforcing Servicer, then such
Requesting Certificateholder shall become the Enforcing Party and must promptly submit the matter to mediation (including nonbinding
arbitration) or arbitration. If there is more than one Requesting Certificateholder that timely delivers a Final Dispute Resolution
Election Notice, then such Requesting Certificateholders will collectively become the Enforcing Party, and the holder or holders
of a majority of the Voting Rights among such Requesting Certificateholders will be entitled to make all decisions relating to
such mediation or arbitration. If, however, no Requesting Certificateholder commences arbitration or mediation pursuant to the
terms of this Agreement within 30 days after delivery of its Final Dispute Resolution Election Notice to the Enforcing Servicer,
then (i) the rights of a Requesting Certificateholder to act as the Enforcing Party shall terminate and no Certificateholder or
Certificate Owner shall have any further right to elect to refer the matter to mediation or arbitration, (ii) if the Proposed Course
of Action Notice indicated that the Enforcing Servicer shall take no further action with respect to the Repurchase Request, then
the related Material Defect shall be deemed waived for all purposes under this Agreement and the Mortgage Loan Purchase Agreement;
provided, however, that such Material Defect shall not be deemed waived with respect a Requesting Certificateholder,
any other Certificateholder or Certificate Owner or the Enforcing Servicer to the extent there is a material change in the facts
and circumstances known to such party at the time when the Proposed Course of Action Notice is posted on the Certificate Administrator’s
Website and (iii) if the Proposed Course of Action Notice had indicated a course of action other than the course of action under
clause (ii), then the Enforcing Servicer shall again become the Enforcing Party and, as such, shall be the sole party obligated
and entitled to determine a course of action including, but not limited to, enforcing the Trust’s rights against the Mortgage
Loan Seller.

 

(vi)       Notwithstanding
the foregoing, the dispute resolution provisions described above under this Section 2.03(j) will not apply, and the Enforcing
Servicer shall remain the Enforcing Party, if the Enforcing Servicer has commenced litigation with respect to the Repurchase Request,
or determines in accordance with the Servicing Standard that it is in the best interest of Certificateholders to commence litigation
with respect to the Repurchase Request to avoid the running of any applicable statute of limitations.

 

(vii)       In
the event a Requesting Certificateholder becomes the Enforcing Party, the Enforcing Servicer, on behalf of the Trust, shall remain
a party to any proceedings against the Mortgage Loan Seller; provided that the degree and extent to which the Enforcing
Servicer actively prepares for and participates in such proceeding shall be determined by such Enforcing Servicer in consultation
with the Directing Holder, provided that a Consultation Termination Event has not occurred and is continuing and an Excluded
Loan is not involved, and in accordance with the Servicing Standard. For the avoidance of doubt, the Depositor, the Mortgage Loan
Seller and any of their respective Affiliates shall not be entitled to be an Initial Requesting Certificateholder or a Requesting
Certificateholder.

 

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(k)       If
the Enforcing Party selects mediation (including nonbinding arbitration), the following provisions shall apply:

 

(i)       The
mediation shall be administered by a nationally recognized mediation services provider selected by the Mortgage Loan Seller (such
provider, the “Mediation Services Provider”) in accordance with published mediation procedures (the “Mediation
Rules”) promulgated by the Mediation Services Provider.

 

(ii)       The
mediator shall be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience
in commercial litigation, and either, commercial real estate finance or commercial mortgage-backed securitization matters or other
complex commercial transactions and who will be appointed from a list of neutrals maintained by the Mediation Services Provider.
Upon being supplied a list of at least ten potential mediators by the Mediation Services Provider each party will have the right
to exercise two peremptory challenges within 14 days and to rank the remaining potential mediators in order of preference. The
Mediation Services Provider shall select the mediator from the remaining attorneys on the list respecting the preference choices
of the parties to the extent possible.

 

(iii)       The
parties shall use commercially reasonable efforts to conduct an organizational conference to begin the mediation within 10 Business
Days of the selection of the mediator and to conclude the mediation within 60 days thereafter.

 

(iv)       The
expenses of any mediation shall be allocated among the parties to the mediation including, if applicable, between the Enforcing
Party and the Enforcing Servicer, as mutually agreed by the parties as part of the mediation.

 

(l)       If
the Enforcing Party selects third-party arbitration, the following provisions will apply:

 

(i)       The
arbitration shall be administered by a nationally recognized arbitration services provider selected by the Mortgage Loan Seller
(such provider, the “Arbitration Services Provider”) in accordance with published arbitration procedures (the
“Arbitration Rules”) promulgated by the Arbitration Services Provider.

 

(ii)       The
arbitrator shall be impartial, an attorney admitted to practice in the State of New York and have at least 15 years of experience
in commercial litigation, and either commercial real estate finance or commercial mortgage-backed securitization matters or other
complex commercial transactions and who will be appointed from a list of neutrals maintained by the Arbitration Services Provider.
Upon being supplied a list of at least ten potential arbitrators by the Arbitration Services Provider each party will have the
right to exercise two peremptory challenges within 14 days and to rank the remaining potential arbitrators in order of preference.
The Arbitration Services Provider will select the arbitrator from the remaining attorneys on the list respecting the preference
choices of the parties to the extent possible.

 

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(iii)       Prior
to accepting an appointment, the arbitrator must promptly disclose any circumstances likely to create a reasonable inference of
bias or conflict of interest or likely to preclude completion of the hearings within the prescribed time schedule.

 

(iv)       After
consulting with the parties at an organizational conference held not later than 10 Business Days after its appointment, the arbitrator
shall devise procedures and deadlines for the arbitration, to the extent not already agreed to by the parties, with the goal of
expediting the proceeding and completing the arbitration within 120 days. The arbitrator shall have the authority to schedule,
hear, and determine any and all motions, including dispositive and discovery motions, in accordance with the Federal Rules of Civil
Procedure for non-jury matters (the “Rules”) (including summary judgment and other prehearing and post hearing
motions), and will do so by reasoned decision on the motion of any party to the arbitration.

 

(v)       Notwithstanding
whatever other discovery may be available under the Rules, unless otherwise agreed by the parties, each party to the arbitration
will be presumptively limited to the following discovery in the arbitration: (A) the parties shall reasonably and in good faith
voluntarily produce to all other parties all documents upon which they intend to rely and all documents they reasonably and in
good faith believe to be relevant to the claims or defenses asserted by any of the parties, (B) party witness depositions (excluding
Rule 30b-6 witnesses), and (C) expert witness depositions, provided, that the arbitrator shall have the ability to grant
the parties, or either of them, additional discovery to the extent that the arbitrator determines good cause is shown that such
additional discovery is reasonable and necessary.

 

(vi)       The
arbitrator shall make its final determination no later than 30 days after the conclusion of the hearings and submission of any
post-hearing submissions. The arbitrator shall resolve the dispute in accordance with the terms of the Mortgage Loan Purchase Agreement
and this Agreement, and may not modify or change those agreements in any way or award remedies not consistent with those agreements.
The arbitrator will not have the power to award punitive damages or consequential damages in any arbitration conducted by them.
Interest on any monetary award shall bear interest from the date of the Final Dispute Resolution Election Notice at the Prime Rate.
In its final determination, the arbitrator shall determine and award the costs of the arbitration (including the fees of the arbitrator,
cost of any record or transcript of the arbitration, and administrative fees) and shall award reasonable attorneys’ fees
to the parties to the arbitration as determined by the arbitrator in its reasonable discretion. The determination of the arbitrator
shall be by a reasoned decision in writing and counterpart copies will be promptly delivered to the parties. The final determination
of the arbitrator shall be final and non-appealable, except for actions to confirm or vacate the determination permitted under
federal or state law, and may be enforced in any court of competent jurisdiction.

 

(vii)       By
selecting arbitration, the Enforcing Party is waiving its right to sue in court, including the right to a trial by jury.

 

(viii)       No
person may bring a putative or certified class action to arbitration.

 

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(m)       The
following provisions will apply to both mediation and third-party arbitration:

 

(i)       Any
mediation or arbitration will be held in New York, New York unless another location is agreed by all parties;

 

(ii)       If
the dispute involves a matter that cannot effectively be remedied by the payment of damages, or if there be any dispute relating
to arbitration or the arbitrators that cannot be resolved promptly by the arbitrators or the Arbitration Services Provider, then
any party in such instance may during the pendency of the arbitration proceedings seek temporary equitable remedies, pending the
final decision of the arbitration panel, solely by application in the Southern District if such court shall have subject matter
jurisdiction, or if the Southern District has no jurisdiction, then the Supreme Court of the State of New York for the County of
New York. The arbitration proceedings shall not be stayed unless so ordered by the court.

 

(iii)       The
details and/or existence of any Repurchase Request, any informal meetings, mediations or arbitration proceedings conducted under
this Section 2.03, including all offers, promises, conduct and statements, whether oral or written, made in the course of
the parties’ attempt to informally resolve any Repurchase Request, will be confidential, privileged and inadmissible for
any purpose, including impeachment, in any mediation, arbitration or litigation, or other proceeding (including any proceeding
under this Section 2.03). Such information will be kept strictly confidential and will not be disclosed or shared with any
third party (other than a party’s attorneys, experts, accountants and other agents and representatives, as reasonably required
in connection with any resolution procedure under this Section 2.03), except as otherwise required by law, regulatory requirement
or court order. If any party to a resolution procedure receives a subpoena or other request for information from a third party
(other than a governmental regulatory body) for such confidential information, the recipient will promptly notify the other party
to the resolution procedure and will provide the other party with a reasonable opportunity to object to the production of its confidential
information.

 

(iv)       In
the event a Requesting Certificateholder is the Enforcing Party, the agreement with the arbitrator or mediator, as the case may
be, shall be required to contain an acknowledgment that the Trust, or the Enforcing Servicer on its behalf, shall be a party to
any arbitration or mediation proceedings solely for the purpose of being the beneficiary of any award in favor of the Enforcing
Party; provided that the degree and extent to which the Enforcing Servicer actively prepares for and participates in such
proceeding will be determined by such Enforcing Servicer in consultation with the Directing Holder, provided that a Consultation
Termination Event has not occurred and is continuing and an Excluded Loan is not involved, and in accordance with the Servicing
Standard. All amounts recovered by the Enforcing Party shall be paid to the Trust, or the Enforcing Servicer on its behalf, and
deposited in the Collection Account. The agreement with the arbitrator or mediator, as the case may be, will provide that in the
event a Requesting Certificateholder is allocated any related costs and expenses pursuant to the terms of the arbitrator’s
decision or the agreement reached in mediation, neither the

 

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Trust nor the Enforcing Servicer acting on its behalf shall be responsible
for any such costs and expenses allocated to the Requesting Certificateholder.

 

(v)       In
the event a Requesting Certificateholder is the Enforcing Party, the Requesting Certificateholder to pay any expenses allocated
to the Enforcing Party in the arbitration proceedings or any expenses that the Enforcing Party agrees to bear in the mediation
proceedings.

 

(vi)       The
Trust (or the Trustee or the Enforcing Servicer, acting on its behalf), the Depositor or the Mortgage Loan Seller shall be permitted
to redact any personally identifiable customer information included in any information provided for purposes of any mediation or
arbitration. Each party to the proceedings shall be required to agree to keep confidential the details related to the Repurchase
Request and the dispute resolution identified in connection with such procedures; provided, however, that the Certificateholders
shall be permitted to communicate prior to the commencement of any such proceedings to the extent provided in Section 5.06.

 

(vii)       For
the avoidance of doubt, in no event shall the exercise of any right of a Requesting Certificateholder to refer a Repurchase Request
to mediation or arbitration or participation in such mediation or arbitration affect in any manner the ability of the Enforcing
Servicer to perform its obligations with respect to a Mortgage Loan or the exercise of any rights of a Directing Holder.

 

(viii)       Any
out-of-pocket expenses required to be borne by or allocated to the Enforcing Servicer in a mediation or arbitration shall be reimbursable
as Trust Fund expenses.

 

Section
2.04     Execution of Certificates; Issuance of Lower-Tier Regular Interests; Issuance of
Trust Subordinate Companion Loan REMIC Regular Interests. The Trustee hereby acknowledges the assignment to it of the
Mortgage Loans and the Trust Subordinate Companion Loans and, subject to Section 2.01 and 2.02, the delivery to
the Custodian of the Mortgage Files and a fully executed original counterpart of the Mortgage Loan Purchase Agreement,
together with the assignment to it of all of the other assets included in the Trust Subordinate Companion Loan REMICs, the
Lower-Tier REMIC and the Grantor Trust. Concurrently with such assignment and delivery, and in exchange for the Mortgage
Loans (other than Excess Interest) and the Trust Subordinate Companion Loans and the other assets comprising the Trust
Subordinate Companion Loan REMICs and the Lower-Tier REMIC, receipt of which is hereby acknowledged, the Trustee
(i) acknowledges the issuance of the Trust Subordinate Companion Loan REMIC Regular Interests, the AMA-R Interest and the
BS-R Interest to the Depositor in exchange for the Trust Subordinate Companion Loans; (ii) acknowledges the issuance of the
Lower-Tier Regular Interests and the Class LR Interest to the Depositor in exchange for the Mortgage Loans; (iii)
acknowledges the creation of the Grantor Trust (as described in Section 2.05 below); (iv) acknowledges the
contribution by the Depositor of the Lower-Tier Regular Interests and the Trust Subordinate Companion Loan REMIC Regular
Interests to the Upper-Tier REMIC; and (v) immediately thereafter, in exchange for the Lower-Tier Regular Interests and the
Trust Subordinate Companion Loan REMIC Regular Interests, the Trustee acknowledges that it has caused the Certificate
Administrator to issue the Class UR

 

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Interest and has caused the Certificate Registrar to execute and caused the
Authenticating Agent to authenticate and to deliver to or upon the order of the Depositor, the Regular Certificates (other
than the Exchangeable Certificates), the Class PEZ Regular Interests and the Class R Certificates, and the Depositor hereby
acknowledges the receipt by it or its designees, of such Certificates in authorized Denominations evidencing the entire
beneficial ownership of the Upper-Tier REMIC (and in the case of the Class R Certificates, the AMA-R Interest, the Class BS-R
Interest, the Class LR Interest and the Class UR Interest); and (vi) the Trustee acknowledges that it has caused
the Certificate Administrator to issue the Exchangeable Certificates and has caused the Certificate Registrar to execute and
cause the Authenticating Agent to deliver to or upon the order of the Depositor such Certificates, and the Depositor hereby
acknowledges the receipt by it, or its designees, of such Certificates in authorized denominations, evidencing beneficial
ownership of the respective portion of the Grantor Trust.

 

Section
2.05     Creation of the Grantor Trust. The portions of the Trust Fund consisting of (i)
the Class A-S Specific Grantor Trust Assets, undivided beneficial ownership of which will be represented by the Class A-S
Certificates, (ii) the Class B Specific Grantor Trust Assets, undivided beneficial ownership of which will be represented by
the Class B Certificates, (iii) the Class C Specific Grantor Trust Assets, undivided beneficial ownership of which will be
represented by the Class C Certificates, (iv) the Class S Specific Grantor Trust Assets, undivided beneficial ownership of
which will be represented by the Class S Certificates and (v) the Class PEZ Specific Grantor Trust Assets, undivided
beneficial ownership of which will be represented by the Class PEZ Certificates, shall be treated as a grantor trust for
federal income tax purposes under subpart E, part I of subchapter J of the Code.

 

[End of Article II]

 

Article
III

ADMINISTRATION AND

SERVICING OF THE TRUST FUND

 

Section
3.01     The Master Servicer to Act as Master Servicer; Special Servicers to Act as Special
Servicers; Administration of the Mortgage Loans, the Serviced Companion Loans and REO Properties. (a) Each of the Master
Servicer and Special Servicers shall diligently service and administer the applicable Mortgage Loans (other than any
Non-Serviced Mortgage Loan), any related Serviced Companion Loans (including, for the avoidance of doubt, the Trust
Subordinate Companion Loan) and the applicable REO Properties (other than any REO Property related to a Non-Serviced Mortgage
Loan) it is obligated to service in accordance with applicable law, this Agreement, the Mortgage Loan documents and the
related Co-Lender Agreements on behalf of the Trust and in the best interests of and for the benefit of the
Certificateholders and, (i) in the case of the Serviced Companion Loans, the Companion Holders and the Trustee (as holder of
the Lower-Tier Regular Interests) and (ii) in the case of the Trust Subordinate Companion Loans, the Holders of the
Loan-Specific Certificates and the Trustee, in each case, as a collective whole, taking into account the subordinate or pari
passu nature of such Companion Loans (as determined by the Master Servicer or the applicable Special Servicer, as the
case may be, in its reasonable judgment), in accordance with applicable law, the terms of this Agreement (and, with respect
to each Serviced Whole Loan or any Mortgage Loan with related

 

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mezzanine debt, the related Co-Lender Agreement) and the terms
of the respective Mortgage Loans and, if applicable, the related Companion Loan, taking into account the subordinate or pari
passu nature of the Companion Loan. With respect to each Serviced Whole Loan, in the event of a conflict between this
Agreement and the related Co-Lender Agreement, the related Co-Lender Agreement shall control; provided that in no
event shall the Master Servicer or the applicable Special Servicer, as the case may be, take any action or omit to take any
action in accordance with the terms of any Co-Lender Agreement that would cause the Master Servicer or such Special Servicer,
as the case may be, to violate the Servicing Standard or the REMIC Provisions. The General Special Servicer shall be the
Special Servicer with respect to all the Mortgage Loans (other than the AMA Plaza Mortgage Loan and 225 Bush Street Mortgage
Loan), any Serviced Companion Loan and other related assets in the Trust and, as such, shall service and administer such
Mortgage Loans, any Serviced Companion Loan and such other assets as shall be required of the applicable Special Servicer
hereunder and under any related Co-Lender Agreement. The AMA Plaza Special Servicer shall be the Special Servicer with
respect to the AMA Plaza Mortgage Loan and other related assets in the Trust and, as such, shall service and administer such
AMA Plaza Mortgage Loan and such other assets as shall be required of the applicable Special Servicer hereunder. The 225 Bush
Street Special Servicer shall be the Special Servicer with respect to the 225 Bush Street Mortgage Loan and other related
assets in the Trust and, as such, shall service and administer such 225 Bush Street Mortgage Loan and such other assets as
shall be required of the applicable Special Servicer hereunder. For purposes of this Agreement and any references to the
duties and obligations of the Special Servicers, any references to Mortgage Loans in the context of such duties and/or
obligations shall be deemed to refer solely to the Mortgage Loans serviced by the applicable Special Servicer and no
other Mortgage Loan, Serviced Companion Loan or other related asset in the Trust serviced hereunder, unless specifically
indicated otherwise. To the extent consistent with the foregoing, the Master Servicer and the applicable Special Servicer
shall service the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and the Serviced Companion Loans in accordance
with the higher of the following standards of care: (1) in the same manner in which, and with the same care, skill, prudence
and diligence with which the Master Servicer or such Special Servicer, as the case may be, services and administers similar
mortgage loans for other third party portfolios and (2) the same care, skill, prudence and diligence with which the Master
Servicer or such Special Servicer, as the case may be, services and administers similar mortgage loans owned by the Master
Servicer or such Special Servicer, as the case may be, with a view to the (A) the timely recovery of all payments or
principal and interest under the Mortgage Loans or Serviced Whole Loans or (B) in the case of a Specially Serviced Mortgage
Loan or an REO Property, maximization of timely recovery of principal and interest on a net present value basis on such
Mortgage Loans and any related Serviced Companion Loans, and the best interests of the Trust and the Certificateholders (as a
collective whole as if such Certificateholders constituted a single lender) (and in the case of any Whole Loan, the best
interests of the Trust, the Certificateholders and any related Companion Holder (as a collective whole as if such
Certificateholders and the holder or holders of the related Companion Loan constituted a single lender), taking into account
the subordinate or pari passu nature of the related Companion Loan), as determined by the Master Servicer or the
applicable Special Servicer, as the case may be, in its reasonable judgment, in either case giving due consideration to the
customary and usual standards of practice of prudent, institutional commercial, multifamily and manufactured housing
community mortgage loan servicers, but without regard to any conflict of interest arising from: (i) any

 

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relationship that the
Master Servicer, the applicable Special Servicer, as the case may be, or any Affiliate of the Master Servicer or such Special
Servicer, as the case may be, may have with any Mortgagor or any Affiliate of such Mortgagor, the Mortgage Loan Seller, the
originators or any other parties to this Agreement or any Affiliate of the foregoing; (ii) the ownership of any Certificate
(or any interest in any Companion Loan, mezzanine loan, or subordinate debt relating to a Mortgage Loan) by the Master
Servicer, the applicable Special Servicer or any Affiliate of the Master Servicer or such Special Servicer, as applicable;
(iii) the obligation, if any, of the Master Servicer to make Advances; (iv) the right of the Master Servicer or the
applicable Special Servicers, as the case may be, or any of its Affiliates to receive compensation for its services and
reimbursement for its costs hereunder or with respect to any particular transaction; (v) the ownership, servicing or
management for others of (a) the Non-Serviced Mortgage Loan and any related Non-Serviced Companion Loan or (b) any other
mortgage loans, subordinate debt, mezzanine loans or properties not covered by this Agreement or held by the Trust by the
Master Servicer or the applicable Special Servicer, as the case may be, or any of its Affiliates; (vi) any debt that the
Master Servicer or the applicable Special Servicer, as the case may be, or any of its Affiliates, has extended to any
Mortgagor or an Affiliate of any Mortgagor (including, without limitation, any mezzanine financing); (vii) any option to
purchase any Mortgage Loan or any related Companion Loan the Master Servicer or the applicable Special Servicer, as the case
may be, or any of its Affiliates, may have; and (viii) any obligation of the Master Servicer or the applicable
Special Servicer, or any of their respective Affiliates, to repurchase or substitute for a Mortgage Loan as a mortgage loan
seller (if the Master Servicer or such Special Servicer or any of their respective Affiliates is a mortgage loan seller) (the
foregoing, collectively referred to as the “Servicing Standard”).

 

The Master Servicer and
the applicable Special Servicer shall act in accordance with the Servicing Standard with respect to any action required to be taken
regarding the Non-Serviced Mortgage Loans pursuant to their obligations under this Agreement.

 

Without limiting the
foregoing, subject to Section 3.19, the applicable Special Servicer shall be obligated to service and administer (i) any
Mortgage Loans (other than the Non-Serviced Mortgage Loans) and any related Serviced Companion Loans as to which a Servicing Transfer
Event has occurred and is continuing (each, a “Specially Serviced Mortgage Loan”) or as otherwise provided herein
with respect to Non-Specially Serviced Mortgage Loans in connection with any Special Servicer Major Decision or Special Servicer
Non-Major Decision and (ii) any REO Properties (other than the Non-Serviced Mortgaged Properties); provided that the Master
Servicer shall continue to receive payments and make all calculations, and prepare, or cause to be prepared, all reports, required
hereunder with respect to the Specially Serviced Mortgage Loans, except for the reports specified herein as prepared by the applicable
Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the REO Properties (and the related REO Loans)
as if no REO Acquisition had occurred, and to render such services with respect to such Specially Serviced Mortgage Loans and REO
Properties as are specifically provided for herein; provided, further, however, that the Master Servicer shall
not be liable for failure to comply with such duties insofar as such failure results from a failure of the applicable Special Servicer
to provide sufficient information to the Master Servicer to comply with such duties or failure by such Special Servicer to otherwise
comply with its obligations hereunder. The Master Servicer, in its capacity as Master Servicer, will not have any responsibility
for the performance by the applicable Special Servicer, in its capacity as a Special Servicer, of its duties

 

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under this Agreement.
The applicable Special Servicer, in its capacity as a Special Servicer, will not have any responsibility for the performance by
the Master Servicer, in its capacity as Master Servicer, of its duties under this Agreement. Each Mortgage Loan or any related
Serviced Companion Loan, that becomes a Specially Serviced Mortgage Loan shall continue as such until satisfaction of the conditions
specified in Section 3.19(a). Without limiting the foregoing, subject to (i) the processing of any Special Servicer Major
Decision or Special Servicer Non-Major Decision by the applicable Special Servicer in accordance with the terms of this Agreement
and (ii) Section 3.19, the Master Servicer shall be obligated to service and administer any Non-Specially Serviced Mortgage
Loan or any related Serviced Companion Loan. The applicable Special Servicer shall make the property inspections, use its reasonable
efforts to collect the financial statements, budgets, operating statements and rent rolls and forward to the Master Servicer the
reports in respect of the related Mortgaged Properties with respect to Specially Serviced Mortgage Loans in accordance with Section
3.12. After notification to the Master Servicer, the applicable Special Servicer may contact the Mortgagor of any Non-Specially
Serviced Mortgage Loan if efforts by the Master Servicer to collect required financial information have been unsuccessful or any
other issues remain unresolved. Such contact shall be coordinated through and with the cooperation of the Master Servicer. No provision
herein contained shall be construed as an express or implied guarantee by the Master Servicer or the applicable Special Servicer
of the collectability or recoverability of payments on the Mortgage Loans or any related Serviced Companion Loan or shall be construed
to impair or adversely affect any rights or benefits provided by this Agreement to the Master Servicer or such Special Servicer
(including with respect to Servicing Fees, Special Servicing Fees or the right to be reimbursed for Advances and interest accrued
thereon). Any provision in this Agreement for any Advance by the Master Servicer or the Trustee is intended solely to provide liquidity
for the benefit of the Certificateholders and not as credit support or otherwise to impose on any such Person the risk of loss
with respect to one or more of the Mortgage Loans, any related Serviced Companion Loans. No provision hereof shall be construed
to impose liability on the Master Servicer or the Special Servicers for the reason that any recovery to the Certificateholders
in respect of a Mortgage Loan at any time after a determination of present value recovery is less than the amount reflected in
such determination.

 

(b)       Subject
only to the Servicing Standard and the terms of this Agreement (including, without limitation, Section 6.08) and of the
respective Mortgage Loans, any related Serviced Companion Loans and any related Co-Lender Agreement, if applicable, and applicable
law, the Master Servicer and the Special Servicers each shall have full power and authority, acting alone or, in the case of the
Master Servicer, subject to Section 3.20, through one or more Sub-Servicers, to do or cause to be done any and all things
in connection with such servicing and administration for which it is responsible which it may deem necessary or desirable. Without
limiting the generality of the foregoing, each of the Master Servicer and the applicable Special Servicer, in its own name (or
in the name of the Trustee and, if applicable, the related Serviced Companion Noteholder), is hereby authorized and empowered by
the Trustee to execute and deliver, on behalf of the Certificateholders (and, with respect to a Serviced Companion Loan, the related
Serviced Companion Noteholder) and the Trustee or any of them, with respect to each Mortgage Loan or any related Serviced Companion
Loan, it is obligated to service under this Agreement: (i) any and all financing statements, continuation statements and other
documents or instruments necessary to maintain the lien created by the related Mortgage or other security document in the related
Mortgage File on the related Mortgaged Property and related collateral, 

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and shall, from time to time, execute and/or deliver such
financing statements, continuation statements and other documents or instruments as necessary to maintain the lien created by the
related Mortgage or other security document in the related Mortgage File on the related Mortgaged Property and related collateral;
(ii) subject to Sections 3.08, 3.18 and 6.08, any and all modifications, waivers, amendments or consents to,
under or with respect to any documents contained in the related Mortgage File; (iii) any and all instruments of satisfaction or
cancellation, pledge agreements and other documents in connection with a defeasance, or of partial or full release or discharge,
and all other comparable instruments; and (iv) any or all complaints or other pleadings to initiate and/or to terminate any action,
suit or proceeding on behalf of the Trust (in their representative capacities (except as set forth below in this paragraph). The
Master Servicer (with respect to Non-Specially Serviced Mortgage Loans) and the applicable Special Servicer (with respect to Specially
Serviced Mortgage Loans) shall provide to the Mortgagor related to such Mortgage Loans or Trust Subordinate Companion Loan that
it is servicing any reports required to be provided to them pursuant to the related Mortgage Loan documents. Subject to Section
3.10, the Trustee shall (i) on the Closing Date, furnish to the Master Servicer and the applicable Special Servicer original
powers of attorney in the form of Exhibit R attached hereto (or such other form as mutually agreed to by the Trustee and
the Master Servicer or such Special Servicer, as applicable) and (ii) upon request, furnish, or cause to be furnished, to the Master
Servicer or the applicable Special Servicer any powers of attorney substantially in the form of Exhibit R attached hereto
(or such other form as mutually agreed to by the Trustee and the Master Servicer or such Special Servicer, as applicable) and other
documents necessary or appropriate to enable the Master Servicer or the applicable Special Servicer, as the case may be, to carry
out its servicing and administrative duties hereunder; provided, however, that the Trustee shall not be held responsible
or liable for any acts of the Master Servicer or the applicable Special Servicer, or for any negligence with respect to, or misuse
of, any such power of attorney by the Master Servicer or the applicable Special Servicer. Notwithstanding anything contained herein
to the contrary, the Master Servicer or the applicable Special Servicer as the case may be, shall not, without the Trustee’s
written consent: (i) initiate any action, suit or proceeding solely under the Trustee’s name without indicating the Master
Servicer’s or the applicable Special Servicer’s, as the case may be, representative capacity (unless prohibited by
any requirement of the applicable jurisdiction in which any such action, suit or proceeding is brought and if so prohibited, in
the manner required by such jurisdiction (provided that the Master Servicer or such Special Servicer, as applicable, shall
then provide five (5) Business Days’ written notice to the Trustee of the initiation of such action, suit or proceeding (or
such shorter time period as is reasonably required in the judgment of the Master Servicer or such Special Servicer, as applicable,
made in accordance with the Servicing Standard) prior to filing such action, suit or proceeding), and shall not be required to
obtain the Trustee’s consent or indicate the Master Servicer’s or such Special Servicer’s, as applicable, representative
capacity)) or (ii) take any action with the intent to cause, and that actually causes, the Trustee to be required to be registered
to do business in any state.

 

(c)       To
the extent the Master Servicer is permitted pursuant to the terms of the related Mortgage Loan documents or Companion Loan documents
(including any related Co-Lender Agreement) to exercise its discretion with respect to any action which requires Rating Agency
Confirmation from each Rating Agency and a confirmation of any applicable rating agencies that such action will not result in the
downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any)
or the Loan-

 

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Specific Certificates (provided that such rating agency confirmation may be considered satisfied in the same
manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25),
the Master Servicer shall require the costs of such Rating Agency Confirmation to be borne by the related Mortgagor. To the extent
the terms of the related Mortgage Loan documents or Companion Loan documents (including any related Co-Lender Agreement) require
the Mortgagor to bear the costs of any Rating Agency Confirmation or confirmation of any applicable rating agencies that such action
will not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan
Securities (if any) or the Loan-Specific Certificates (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section
3.25), the Master Servicer shall not waive the requirement that such costs and expenses be borne by the related Mortgagor.
To the extent that the terms of the related Mortgage Loan documents or Companion Loan documents (including any related Co-Lender
Agreement) are silent as to who bears the costs of any Rating Agency Confirmation or confirmation of any applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced
Companion Loan Securities (if any) or Loan-Specific Certificates (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25), the Master Servicer shall use reasonable efforts to have the Mortgagor bear such costs and expenses. The
Master Servicer shall not be responsible for the payment of such costs and expenses out of pocket other than as a Property Protection
Advance.

 

(d)       The
relationship of each of the Master Servicer and the Special Servicers to the Trustee under this Agreement is intended by the parties
to be that of an independent contractor and not that of a joint venturer, partner or agent.

 

(e)       The
Master Servicer shall, to the extent permitted by the related Mortgage Loan documents or any related Companion Loan documents,
and consistent with the Servicing Standard, permit Escrow Payments to be invested only in Permitted Investments.

 

(f)       Within
sixty (60) days (or such shorter time period as is required by the terms of the applicable Mortgage Loan documents) after the later
of (i) the receipt thereof by the Master Servicer and (ii) the Closing Date, (x) the Mortgage Loan Seller pursuant to the Mortgage
Loan Purchase Agreement shall notify each provider of a letter of credit for each Mortgage Loan identified as having a letter of
credit on the Mortgage Loan Schedule, that the Master Servicer (in care of the Trustee, as titled in Section 2.01(b)) for
the benefit of the Certificateholders and any related Companion Holders shall be the beneficiary under each such letter of credit
and (y) the Master Servicer shall notify each lessor under a Ground Lease for each Mortgage Loan identified as subject to a leasehold
interest on the Mortgage Loan Schedule, that the Trust is the leasehold mortgagee, that any notices of default under such Ground
Lease and required to be delivered to the leasehold mortgagee pursuant to the terms of such Ground Lease shall be delivered to
the Master Servicer and that the Master Servicer or the applicable Special Servicer shall service the related Mortgage Loan for
the benefit of the Certificateholders. If a letter of credit is required to be drawn upon earlier than the date the Mortgage Loan
Seller has notified the provider of such letter of credit pursuant to clause (x) of the immediately preceding sentence,

 

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the Mortgage Loan Seller shall cooperate with the reasonable requests of the Master Servicer or applicable Special Servicer in
connection with making a draw under such letter of credit. If the Mortgage Loan documents do not require the related Mortgagor
to pay any costs and expenses relating to any modifications to or assignment of the related letter of credit, then the Mortgage
Loan Seller shall pay such costs and expenses as and to the extent required under the Mortgage Loan Purchase Agreement. If the
Mortgage Loan documents require the related Mortgagor to pay any costs and expenses relating to any modifications to the related
letter of credit, and such Mortgagor fails to pay such costs and expenses after the Master Servicer has exercised reasonable efforts
to collect such costs and expenses from such Mortgagor, then the Master Servicer shall give the Mortgage Loan Seller notice of
such failure and the amount of costs and expenses, and the Mortgage Loan Seller shall pay such costs and expenses as and to the
extent required under the Mortgage Loan Purchase Agreement. The costs and expenses of any modifications to Ground Leases shall
be paid by the related Mortgagor. Neither the Master Servicer nor the applicable Special Servicer shall have any liability for
the failure of the Mortgage Loan Seller to perform its obligations under the Mortgage Loan Purchase Agreement.

 

(g)       Notwithstanding
anything herein to the contrary, in no event shall the Master Servicer (or the Trustee, as applicable) make an Advance with respect
to any Companion Loan to the extent the related Serviced Mortgage Loan has been paid in full or is no longer included in the Trust
Fund.

 

(h)       Servicing
and administration of each Serviced Companion Loan shall continue hereunder and in accordance with the related Co-Lender Agreement
for so long as the corresponding Serviced Mortgage Loan or any related REO Property is part of the Trust Fund or for such longer
period as any amounts payable by the related Companion Holder, to or for the benefit of the Trust or any party hereto in accordance
with the related Co-Lender Agreement remain due and owing.

 

(i)       The
applicable Special Servicer agrees that upon the occurrence of a Servicing Transfer Event with respect to any Mortgage Loan or
Serviced Whole Loan, that is subject to or becomes subject to a Co-Lender Agreement in the future, it shall, subject to Section
3.19, use commercially reasonable efforts to enforce, on behalf of the Trust, subject to the Servicing Standard and to the
extent such Special Servicer determines such action is in the best interests of the Trust, all rights conveyed to the Trustee pursuant
to any such Co-Lender Agreement. The costs and expenses incurred by such Special Servicer in connection with such enforcement shall
be paid as a Trust Fund expense or, subject to the terms of the applicable Co-Lender Agreement, (i) with respect to any Serviced
Pari Passu Whole Loan, pro rata and pari passu, by the Trust and Serviced Pari Passu Companion Loan, in accordance
with the respective Stated Principal Balances of the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion
Loan, or (ii) with respect to any Serviced AB Whole Loan, first, by the related AB Subordinate Companion Loan (and with
respect to the AMA Plaza Whole Loan, first, by the Non-Trust Subordinate Companion Loan and then, by the related
Trust Subordinate Companion Loan) and then, by the Trust.

 

(j)       Notwithstanding
anything herein to the contrary, the parties hereto acknowledge and agree that, to the extent required under the related Co-Lender
Agreement, the servicing and administration of a Serviced Whole Loan shall continue hereunder (but not with

 

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respect to making Advances)
even if the related Serviced Mortgage Loan is no longer part of the Trust Fund, until such time as a separate servicing agreement
is entered into in accordance with the related Co-Lender Agreement (it being acknowledged that neither the Master Servicer nor
the Special Servicers shall be obligated under a separate agreement to which it is not a party); provided that, other than
pursuant to Section 6.04 (and, with respect to Section 6.04, solely with respect to claims, losses, penalties, fines,
forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred in
connection with a legal claim or action resulting from an action or inaction taken or not taken while the related Serviced Mortgage
Loan was part of the Trust Fund), no costs, expenses, losses or fees accruing with respect to such Serviced Whole Loan on and after
the date the related Serviced Mortgage Loan is no longer part of the Trust Fund shall be payable out of the Trust Fund and the
Master Servicer shall have no obligation to make any Advance on or after the date such Serviced Mortgage Loan ceases to be part
of the Trust Fund; provided, however, that if, in the case of any Serviced Pari Passu Whole Loan, the related Serviced
Companion Loan continues to be included in an Other Securitization, then for so long as a separate servicing agreement (pursuant
to the related Co-Lender Agreement) has not been entered into, the Master Servicer shall inform the related Other Servicer of any
need to make Property Protection Advances with respect to a Serviced Whole Loan within three (3) Business Days of determining that
such an Advance is necessary or being notified that such an Advance is necessary, or in the case of a Property Protection Advance
that needs to be made on an emergency or urgent basis, within one (1) Business Day. With respect to Property Protection Advances
made by any Other Servicer as contemplated in the proviso to the preceding sentence, the Master Servicer shall, from collections
on the related Serviced Whole Loan (but never out of general collections on the Mortgage Loans and REO Properties) received by
the Master Servicer, reimburse the Other Servicer for such Property Protection Advances in the same manner and on the same level
of priority as if such Property Protection Advances had been made by the Master Servicer hereunder.

 

(k)       Notwithstanding
anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and the applicable Special
Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the applicable Special Servicer’s
authority with respect to a Non-Serviced Mortgage Loan are limited by and subject to the terms of the related Non-Serviced Co-Lender
Agreement and the rights of the related Non-Serviced Master Servicer and Non-Serviced Special Servicer with respect thereto under
the related Non-Serviced Pooling Agreement. The Master Servicer (or, with respect to any Specially Serviced Mortgage Loan, the
applicable Special Servicer) shall use reasonable efforts consistent with the Servicing Standards to enforce the rights of the
Trustee (as holder of a Non-Serviced Mortgage Loan) under the related Non-Serviced Co-Lender Agreement and Non-Serviced Pooling
Agreement.

 

(l)       The
parties hereto acknowledge that each Non-Serviced Mortgage Loan is subject to the terms and conditions of the related Non-Serviced
Co-Lender Agreement and further acknowledge that, pursuant to the related Non-Serviced Co-Lender Agreement, (i) the related Non-Serviced
Mortgage Loan is to be serviced and administered by the related Non-Serviced Master Servicer and Non-Serviced Special Servicer
in accordance with the related Non-Serviced Pooling Agreement, and (ii) in the event that (A) the related Non-Serviced Companion
Loan is no longer part of the Trust Fund created by the related Non-Serviced Pooling Agreement and (B) the related Non-Serviced
Mortgage Loan is included in the Trust Fund, then,

 

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as set forth in the related Non-Serviced Co-Lender Agreement, the related Non-Serviced
Whole Loan shall continue to be serviced in accordance with the related Non-Serviced Pooling Agreement, until such time as a new
servicing agreement has been agreed to by the parties to the related Non-Serviced Co-Lender Agreement in accordance with the provisions
of such agreement and confirmation has been obtained from the Rating Agencies that such new servicing agreement would not result
in a downgrade, qualification or withdrawal of the then current ratings of any Class of Certificates then outstanding.

 

(m)       Notwithstanding
anything herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and the applicable Special
Servicer’s obligations and responsibilities hereunder and the Master Servicer’s and the applicable Special Servicer’s
authority with respect to a Serviced Whole Loan are limited by, and subject to, the terms of the related Co-Lender Agreement. The
Master Servicer (or, if a Serviced Whole Loan becomes a Specially Serviced Mortgage Loan, the applicable Special Servicer) shall
use reasonable efforts consistent with the Servicing Standard to obtain the benefits of the rights of the Trust (as holder of the
related Serviced Mortgage Loan) under the related Co-Lender Agreement. In the event of any conflict between this Agreement and
the related Co-Lender Agreement, the provisions of the related Co-Lender Agreement shall control.

 

(n)       In
connection with the securitization of any Serviced Companion Loan, while it is a Serviced Companion Loan, upon the request of (and
at the expense of) the related Serviced Companion Noteholder (or its designee), each of the Master Servicer, the applicable Special
Servicer (if such Serviced Companion Loan is a Specially Serviced Mortgage Loan) and the Trustee, as applicable, shall use reasonable
efforts to cooperate with such Serviced Companion Noteholder in attempting to cause the related Mortgagor to provide information
relating to such Whole Loan and the related notes, and that such holder reasonably determines to be necessary or appropriate, for
inclusion in any disclosure document(s) relating to such Other Securitization.

 

(o)       To
the extent required under the any Mortgage Loan documents, the Master Servicer shall, on behalf of the related lender, maintain
a Note register for the related Mortgage Loan or Whole Loan, as applicable, in accordance with such Mortgage Loan documents.

 

(p)       The
parties hereto acknowledge and agree that the servicing and administration of a Trust Subordinate Companion Loan shall continue
hereunder by the Master Servicer and the applicable Special Servicer even if the related Serviced AB Mortgage Loan is no longer
part of the Trust Fund subject to the provisions of Section 3.31(g).

 

Section
3.02     Collection of Mortgage Loan Payments. (a) Each of the Master Servicer and the
applicable Special Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions
of the Mortgage Loans and the Companion Loans it is obligated to service hereunder, and shall follow such collection
procedures as are consistent with this Agreement (including, without limitation, the Servicing Standard); provided,
that with respect to each Mortgage Loan that has an Anticipated Repayment Date, so long as the related Mortgagor is in
compliance with each provision of the related Mortgage Loan documents, the Master Servicer and the applicable Special
Servicer shall not take any enforcement action with

 

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respect to the failure of the related Mortgagor to make any payment of
Excess Interest, other than requests for collection, until the Maturity Date of the related Mortgage Loan or until the
outstanding principal balance of such Mortgage Loan (exclusive of any portion representing accrued Excess Interest) has been
paid in full); provided, further, that the Master Servicer or the applicable Special Servicer, as the case may
be, may take action to enforce the Trust’s right to apply excess cash flow to principal in accordance with the terms of
the Mortgage Loan documents. The Master Servicer or the applicable Special Servicer, as applicable, may in its discretion
waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan and Companion Loan that it is obligated
to service hereunder three (3) times during any period of twenty-four (24) consecutive months with respect to any Mortgage
Loan and Serviced Companion Loan; provided that the Master Servicer or such Special Servicer, as applicable, may in
its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan and Companion Loan one
additional time in such 24-month period so long as with respect to any of the foregoing waivers, no Advance or additional
expense of the Trust has been incurred and remains unreimbursed to the Trust with respect to such Mortgage Loan or Companion
Loan. Any additional waivers during such 24-month period with respect to such Mortgage Loan may be made, subject to the
Servicing Standard, only after the Master Servicer or the applicable Special Servicer, as applicable, has, prior to the
occurrence of a Consultation Termination Event, given notice of a proposed waiver to the Directing Holder and, prior to the
occurrence and continuance of a Control Termination Event, the Directing Holder has consented to such additional waiver
(provided that if the Master Servicer or such Special Servicer, as applicable, fails to receive a response to such
notice from the Directing Holder in writing within five (5) days of giving such notice, then the Directing Holder shall be
deemed to have consented to such proposed waiver); provided, further, that after the occurrence and during the
continuance of a Control Termination Event, the Master Servicer or the applicable Special Servicer, as applicable, may waive
any Penalty Charge in accordance with the Servicing Standard without the consent of the Directing Holder; provided, further,
that the Directing Holder shall have no consent rights with respect to any Excluded Loan with respect to the foregoing
waivers.

 

(b)       (i)
All amounts collected by or on behalf of the Trust in respect of a Mortgage Loan shall be applied to amounts due and owing under
the Mortgage Loan documents (including for principal and accrued and unpaid interest) in accordance with the express provisions
of the Mortgage Loan documents; provided, however, that absent express provisions in the related Mortgage Loan documents
(including any related Co-Lender Agreement), other than with respect to the application of Liquidation Proceeds, all amounts collected
by or on behalf of the Trust in respect of a Mortgage Loan in the form of payments from the related Mortgagor or Insurance and
Condemnation Proceeds under the Mortgage Loan or any proceeds (other than Liquidation Proceeds) with respect to any REO Loan (exclusive
of amounts payable to any applicable Companion Loan pursuant to the terms of the related Co-Lender Agreement) will be applied in
the following order of priority:

 

first, as a recovery
of any unreimbursed Advances (including any Workout-Delayed Reimbursement Amount) with respect to the related Mortgage Loan and
unpaid interest at the Reimbursement Rate on such Advances and, if applicable, unreimbursed and unpaid expenses of the Trust;

 

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second, as a recovery
of Nonrecoverable Advances and any interest on those Nonrecoverable Advances at the Reimbursement Rate, to the extent previously
paid or reimbursed from principal collections on the Mortgage Loans (as described in the first proviso in the definition of Principal
Distribution Amount);

 

third, to the
extent not previously allocated pursuant to clause first, as a recovery of accrued and unpaid interest on such Mortgage
Loan (exclusive of default interest and Excess Interest) to the extent of the excess of (i) accrued and unpaid interest on such
Mortgage Loan at the related Mortgage Rate in effect from time to time through and including the end of the applicable Mortgage
Loan interest accrual period in which such collections are received by or on behalf of the issuing entity, over (ii) the sum of
(a) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan that have
occurred in connection with related Appraisal Reduction Amounts (to the extent collections have not been allocated as recovery
of accrued and unpaid interest pursuant to clause fifth below on earlier dates) and (b) Accrued AB Loan Interest;

 

fourth, to the
extent not previously allocated pursuant to clause first, as a recovery of principal of such Mortgage Loan then due and
owing, including by reason of acceleration of such Mortgage Loan following a default thereunder;

 

fifth, as a recovery
of (i) accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative amount of the reductions (if any) in the
amount of related P&I Advances for such Mortgage Loan that have occurred in connection with related Appraisal Reduction Amounts
and (ii) Accrued AB Loan Interest (in each of clause (i) and (ii), to the extent collections have not been allocated as recovery
of accrued and unpaid interest pursuant to this clause fifth on earlier dates);

 

sixth, as a recovery
of amounts to be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes, assessments and
insurance premiums and similar items relating to such Mortgage Loan;

 

seventh, as a
recovery of any other reserves to the extent then required to be held in escrow with respect to such Mortgage Loan;

 

eighth, as a recovery
of any yield maintenance charge or prepayment premium then due and owing under such Mortgage Loan;

 

ninth, as a recovery
of any late payment charges and default interest then due and owing under such Mortgage Loan;

 

tenth, as a recovery
of any assumption fees and Modification Fees then due and owing under such Mortgage Loan;

 

eleventh, as a
recovery of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both consent
fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated to Operating
Advisor Consulting Fees);

 

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twelfth, as a
recovery of any remaining principal of such Mortgage Loan to the extent of its entire remaining unpaid principal balance; and

 

thirteenth, in
the case of the ARD Loan after the related Anticipated Repayment Date, any accrued by unpaid Excess Interest;

 

provided that to the extent required
under the REMIC provisions of the Code, payments or proceeds received (or receivable by exercise of the lender’s rights under
the related Mortgage Loan documents) with respect to any partial release of a Mortgaged Property (including in connection with
a condemnation) at a time when the loan to value ratio of the related Mortgage Loan or Serviced Whole Loan, as applicable, exceeds
125%, or would exceed 125% following any partial release (based solely on the value of real property and excluding personal property
and going concern value, if any) must be collected and allocated to reduce the principal balance of the Mortgage Loan or Serviced
Whole Loan) in the manner permitted by such REMIC provisions; provided, further, that if a Non-Serviced Mortgage
Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole Loan become REO Loans, the treatment of the foregoing
amounts with respect to such Non-Serviced Whole Loan shall be subject to the terms of the related Non-Serviced Co-Lender Agreement
and Non-Serviced Pooling Agreement, in that order; provided, further, that with respect to each Mortgage Loan related
to a Serviced Whole Loan, amounts collected with respect to the related Serviced Whole Loan, shall be allocated first pursuant
to the terms of the related Co-Lender Agreement and then, any amounts allocated to the related Serviced Mortgage Loan shall be
subject to application as described above.

 

(ii)       Liquidation
Proceeds in respect of each Mortgage Loan or REO Loan (in the case of an REO Loan, exclusive of amounts payable to any applicable
Companion Loan pursuant to the terms of the related Co-Lender Agreement) shall be applied in the following order of priority:

 

first, as a recovery
of any unreimbursed Advances (including any Workout- Delayed Reimbursement Amount) with respect to the related Mortgage Loan and
interest at the Reimbursement Rate on all Advances and, if applicable, unreimbursed and unpaid expenses of the Trust with respect
to the related Mortgage Loan;

 

second, as a recovery
of Nonrecoverable Advances and any interest on those Nonrecoverable Advances at the Reimbursement Rate, to the extent previously
paid or reimbursed from principal collections on the Mortgage Loans (as described in the first proviso in the definition of Principal
Distribution Amount);

 

third, to the
extent not previously allocated pursuant to clause first, as a recovery of accrued and unpaid interest on such Mortgage
Loan (exclusive of default interest and Excess Interest) to the extent of the excess of (i) accrued and unpaid interest on such
Mortgage Loan at the applicable Mortgage Rate in effect from time to time through and including the end of the applicable Mortgage
Loan interest accrual period in which such collections are received by or on behalf of the issuing entity, over (ii) the sum of
(a) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage Loan that have
occurred in connection with related Appraisal Reduction Amounts (to the extent collections have not been

 

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allocated as a recovery
of accrued and unpaid interest pursuant to clause fifth below or clause fifth of the prior waterfall above on earlier
dates) and (b) Accrued AB Loan Interest;

 

fourth, to the
extent not previously allocated pursuant to clause first, as a recovery of principal of such Mortgage Loan to the extent
of its entire unpaid principal balance;

 

fifth, as a recovery
of (i) accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative amount of the reductions (if any) in the
amount of related P&I Advances for such Mortgage Loan that have occurred in connection with related Appraisal Reduction Amounts
and (ii) Accrued AB Loan Interest (in each of clause (i) and (ii), to the extent collections have not been allocated as recovery
of accrued and unpaid interest pursuant to this clause fifth or clause fifth of the prior waterfall above on earlier
dates);

 

sixth, as a recovery
of any yield maintenance charge or prepayment premium then due and owing under such Mortgage Loan;

 

seventh, as a
recovery of any late payment charges and default interest then due and owing under such Mortgage Loan;

 

eighth, as a recovery
of any assumption fees and Modification Fees then due and owing under such Mortgage Loan;

 

ninth, as a recovery
of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both consent fees and
Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated to Operating
Advisor Consulting Fees); and

 

tenth, in the
case of an ARD Loan after the related Anticipated Repayment Date, an accrued but unpaid Excess Interest;

 

provided that if a Non-Serviced
Mortgage Loan and any related Non-Serviced Companion Loan comprising a Non-Serviced Whole Loan becomes an REO Loan, the treatment
of the foregoing amounts with respect to such Non-Serviced Whole Loan shall be subject to the terms of the related Non-Serviced
Co-Lender Agreement and Non-Serviced Pooling Agreement, in that order; provided, further, that with respect to each
Mortgage Loan related to a Serviced Whole Loan, amounts collected with respect to the related Serviced Whole Loan, shall be allocated
first pursuant to the terms of the related Co-Lender Agreement and then, any amounts allocated to the related Serviced Mortgage
Loan, shall be subject to application as described above.

 

(iii)       Notwithstanding
clauses (i) and (ii) above, such provisions shall not be deemed to affect the priority of distributions of payments
pursuant to the provisions of this Agreement. To the extent that such amounts are paid by a party other than a Mortgagor, such
amounts shall be deemed to have been paid in respect of a purchase of all or part of the Mortgaged Property (in the case of Insurance
and Condemnation Proceeds or Liquidation Proceeds) and then paid by the Mortgagor under the Mortgage Loan or Companion Loan, as
applicable, or in accordance with Section 3.02(b)(ii) above.

 

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(c)       To
the extent consistent with the terms of the Mortgage Loans (and, with respect to each Serviced Whole Loan, the related Serviced
Companion Loan, as applicable, and the related Co-Lender Agreement) and applicable law, the Master Servicer shall apply all Insurance
and Condemnation Proceeds it receives on a day other than the Due Date to amounts due and owing under the related Mortgage Loan
or Companion Loan as if such Insurance and Condemnation Proceeds were received on the Due Date immediately succeeding the month
in which Insurance and Condemnation Proceeds were received and otherwise in accordance with Section 3.02(b)(ii) above.

 

(d)       In
the event that the Master Servicer or applicable Special Servicer receives Excess Interest prior to the Determination Date for
any Collection Period, or receives notice from the related Mortgagor that the Master Servicer or applicable Special Servicer will
be receiving Excess Interest prior to the Determination Date for any Collection Period, the Master Servicer or applicable Special
Servicer, as the case may be, shall notify the Trustee and Certificate Administrator two (2) Business Days prior to the related
Distribution Date. None of the Master Servicer, the applicable Special Servicer, the Certificate Administrator or the Trustee shall
be responsible for any failure of the related Mortgagor to pay any such Excess Interest or prepayment penalty. The preceding statements
shall not, however, be construed to limit the provisions of Section 3.02(a)..

 

(e)       With
respect to any Mortgage Loan (or Trust Subordinate Companion Loan, as applicable) in connection with which the Mortgagor was required
to escrow funds or to post a letter of credit related to obtaining certain performance objectives described in the applicable Mortgage
Loan documents or Trust Subordinate Companion Loan documents, as applicable, the Master Servicer shall, to the extent consistent
with the Servicing Standard, hold such escrows, letters of credit and proceeds thereof as additional collateral and not apply such
items to reduce the principal balance of such Mortgage Loan, Serviced Companion Loan, unless otherwise required to do so pursuant
to the applicable Mortgage Loan documents, applicable law or court order.

 

(f)       (A)
Promptly following the Closing Date, in the case of any Non-Serviced Whole Loan, the Certificate Administrator shall send written
notice (in the form attached hereto as Exhibit T) to the related Non-Serviced Master Servicer (with a copy to any other
applicable party set forth on the schedule of addresses to Exhibit T) stating that, as of such date, the Trustee is the
holder of the related Non-Serviced Mortgage Loan and directing such Non-Serviced Master Servicer to remit to the Master Servicer
all amounts payable to, and to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports,
statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to,
the holder of such Non-Serviced Mortgage Loan under the related Non-Serviced Co-Lender Agreement and the related Non-Serviced Pooling
Agreement and (B) notice of any subsequent change in the identity of the Master Servicer or the party designated to exercise the
rights of the “Non-Controlling Note Holder” under each Co-Lender Agreement (together with the relevant contact information
(to the extent the Certificate Administrator has received notice of such event and the relevant contact information)). The Master
Servicer shall, within two (2) Business Days of receipt of properly identified and available funds, deposit into the Collection
Account all amounts received with respect to the related Non-Serviced Mortgage Loan, the related Non-Serviced Mortgaged Property
or any related REO Property.

 

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Section
3.03    Collection of Taxes, Assessments and Similar Items; Servicing Accounts. (a) The Master
Servicer shall establish and maintain one or more accounts (the “Servicing Accounts”), into which all
Escrow Payments shall be deposited and retained, and shall administer such Servicing Accounts in accordance with the Mortgage
Loan documents and, if applicable, the Companion Loan documents, as the case may be. Any Servicing Account related to a
Serviced Whole Loan, shall be held for the benefit of the Certificateholders and the related Serviced Companion Noteholder
collectively, but this shall not be construed to modify respective interests of either noteholder therein as set forth in the
related Co-Lender Agreement. Amounts on deposit in Servicing Accounts may only be invested in accordance with the terms of
the related Mortgage Loan documents and Companion Loan documents, as applicable, or in Permitted Investments in accordance
with the provisions of Section 3.06. Servicing Accounts shall be Eligible Accounts to the extent permitted by the
terms of the related Mortgage Loan documents. Withdrawals of amounts so deposited from a Servicing Account may be made only
to: (i) effect payment of items for which Escrow Payments were collected and comparable items; (ii) reimburse the Trustee and
then the Master Servicer, if applicable, for any Property Protection Advances; (iii) refund to Mortgagors any sums as may be
determined to be overages; (iv) pay interest to Mortgagors on balances in the Servicing Account, if required by applicable
law or the terms of the related Mortgage Loan or Companion Loan and as described below or, if not so required, to the Master
Servicer; (v) after the occurrence of an event of default under the related Mortgage Loan or Companion Loan, apply amounts to
the indebtedness under the applicable Mortgage Loan or Companion Loan; (vi) withdraw amounts deposited in error; (vii)
pay Penalty Charges to the extent permitted by the related Mortgage Loan documents; or (viii) clear and terminate the
Servicing Account at the termination of this Agreement in accordance with Section 9.01. As part of its servicing
duties, the Master Servicer shall pay or cause to be paid to the Mortgagors interest on funds in Servicing Accounts, to the
extent required by law or the terms of the related Mortgage Loan or Companion Loan; provided, however, that in
no event shall the Master Servicer be required to remit to any Mortgagor any amounts in excess of actual net investment
income or funds in the related Servicing Account. If allowed by the related Mortgage Loan documents and applicable law, the
Master Servicer may charge the related Mortgagor an administrative fee for maintenance of the Servicing Accounts.

 

(b)       The
applicable Special Servicer, in the case of REO Loans (other than any REO Loan succeeding a Non-Serviced Mortgage Loan), and the
Master Servicer, in the case of all other Mortgage Loans (other than a Non-Serviced Mortgage Loan) and each Serviced Companion
Loan, shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of real estate taxes,
assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any ground rents
payable in respect thereof. The applicable Special Servicer, in the case of REO Loans (other than any REO Loan succeeding a Non-Serviced
Mortgage Loan), and the Master Servicer, in the case of all other Mortgage Loans (other than a Non-Serviced Mortgage Loan) and
each Serviced Companion Loan, shall use reasonable efforts consistent with the Servicing Standard to obtain, from time to time,
all bills for the payment of such items (including renewal premiums) and shall effect payment thereof from the applicable REO Account
or by the Master Servicer as Property Protection Advances prior to the applicable penalty or termination date and, in any event,
prior to the institution of foreclosure or similar proceedings with respect to the related Mortgaged Property for nonpayment of
such items, employing for such purpose Escrow Payments (which shall be so applied by the Master Servicer at the written direction
of the applicable Special

 

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Servicer in the case of REO Loans) as allowed under the terms of the related Mortgage Loan (other than
a Non-Serviced Mortgage Loan) and Companion Loan. Other than with respect to any Non-Serviced Mortgage Loan, the Master Servicer
shall service and administer any reserve accounts (including monitoring, maintaining or changing the amounts of required escrows)
in accordance with the terms of such Mortgage Loan and the related Serviced Companion Loan, as applicable, and the Servicing Standard.
To the extent that a Mortgage Loan (other than a Non-Serviced Mortgage Loan) and any related Companion Loan, as applicable, does
not require a Mortgagor to escrow for the payment of real estate taxes, assessments, insurance premiums, ground rents (if applicable)
and similar items, the applicable Special Servicer, in the case of REO Loans, and the Master Servicer, in the case of all other
Mortgage Loans, Companion Loan that it is responsible for servicing hereunder, shall use reasonable efforts consistent with the
Servicing Standard to cause the Mortgagor to comply with its obligation to make payments in respect of such items at the time they
first become due and, in any event, prior to the institution of foreclosure or similar proceedings with respect to the related
Mortgaged Property for nonpayment of such items.

 

(c)       In
accordance with the Servicing Standard and for each Mortgage Loan (other than any Non-Serviced Mortgage Loans) and each Serviced
Whole Loan, as applicable, the Master Servicer shall advance all such funds as are necessary for the purpose of effecting the payment
of (i) real estate taxes, assessments and other similar items that are or may become a lien thereon, (ii) ground rents (if applicable)
and (iii) premiums on Insurance Policies, in each instance if and to the extent Escrow Payments collected from the related Mortgagor
(or related REO Revenues, if applicable) are insufficient to pay such item when due and the related Mortgagor has failed to pay
such item on a timely basis, and provided, however, that the particular advance would not, if made, constitute a
Nonrecoverable Property Protection Advance and provided, further, however, that with respect to the payment
of taxes and assessments, the Master Servicer shall not be required to make such advance until the later of five (5) Business Days
after the Master Servicer, the applicable Special Servicer, the Certificate Administrator or the Trustee, as the case may be, has
received confirmation that such item has not been paid or the date prior to the date after which any penalty or interest would
accrue in respect of such taxes or assessments. The applicable Special Servicer shall give the Master Servicer and the Trustee
no less than five (5) Business Days’ written (facsimile or electronic) notice before the date on which the Master Servicer
is requested to make any Property Protection Advance with respect to a given Specially Serviced Mortgage Loan or REO Property;
provided, however, that only two (2) Business Days’ written (facsimile or electronic) notice shall be required
in respect of Property Protection Advances required to be made on an emergency or urgent basis provided, further,
that the applicable Special Servicer shall not be entitled to make such a request (other than for Property Protection Advances
required to be made on an urgent or emergency basis) more frequently than once per calendar month (although such request may relate
to more than one Property Protection Advance). The Master Servicer may pay the aggregate amount of such Property Protection Advances
listed on a monthly request to the applicable Special Servicer, in which case such Special Servicer shall remit such Property Protection
Advances to the ultimate payees. The applicable Special Servicer shall have no obligation to make any Property Protection Advances;
provided, that in an urgent or emergency situation requiring the making of a Property Protection Advance, the applicable
Special Servicer may make a Property Protection Advance. Within five (5) Business Days of making such a Property Protection Advance,
such Special Servicer shall deliver to the Master Servicer request for reimbursement for such Property

 

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Protection Advance, along
with all information and documentation in such Special Servicer’s possession regarding the subject Property Protection Advance
as the Master Servicer may reasonably request, and the Master Servicer shall be obligated, out of such Master Servicer’s
own funds, to reimburse such Special Servicer for any unreimbursed Property Protection Advances (other than Nonrecoverable Property
Protection Advances which shall be reimbursed from the Collection Account) made by such Special Servicer pursuant to the terms
hereof), together with interest thereon at the Reimbursement Rate from the date made to, but not including, the date of reimbursement.
Such reimbursement and any accompanying payment of interest shall be made within five (5) Business Days of the written request
therefor pursuant to the preceding sentence by wire transfer of immediately available funds to an account designated in writing
by such Special Servicer. Upon the Master Servicer’s reimbursement to the applicable Special Servicer of any Property Protection
Advance and payment to such Special Servicer of interest thereon, all in accordance with this Section 3.03, the Master Servicer
shall for all purposes of this Agreement be deemed to have made such Property Protection Advance at the same time as such Special
Servicer actually made such Property Protection Advance, and accordingly, the Master Servicer shall be entitled to be reimbursed
for such Property Protection Advance, together with interest thereon at the Reimbursement Rate, at the same time, in the same manner
and to the same extent as the Master Servicer would otherwise have been entitled if it had actually made such Property Protection
Advance at the time such Special Servicer did.

 

Any request by a Special
Servicer that the Master Servicer make a Property Protection Advance shall be deemed to be a determination by such Special Servicer
that such requested Property Protection Advance is not a Nonrecoverable Property Protection Advance, and the Master Servicer shall
be entitled to conclusively rely on such determination, provided that the determination shall not be binding on the Master
Servicer or Trustee. On the first Business Day after the Determination Date for the related Distribution Date, the applicable Special
Servicer shall report to the Master Servicer if such Special Servicer determines any Property Protection Advance previously made
by the Master Servicer with respect to a Specially Serviced Mortgage Loan or REO Loan is a Nonrecoverable Property Protection Advance.
The Master Servicer shall be entitled to conclusively rely on such a determination, but such determination shall be binding upon
the Master Servicer, and shall in no way limit the ability of the Master Servicer in the absence of such determination to make
its own determination that any Advance is a Nonrecoverable Advance. If the applicable Special Servicer makes a determination that
only a portion of, and not all of, any previously made or proposed Property Protection Advance is a Nonrecoverable Advance, the
Master Servicer shall have the right to make its own subsequent determination that any remaining portion of any such previously
made or proposed Property Protection Advance is a Nonrecoverable Advance. All such Advances shall be reimbursable in the first
instance from related collections from the Mortgagors and further as provided in Section 3.05(a). No costs incurred by the
Master Servicer or a Special Servicer in effecting the payment of real estate taxes, assessments and, if applicable, ground rents
on or in respect of the Mortgaged Properties shall, for purposes hereof, including, without limitation, the Certificate Administrator’s
calculation of monthly distributions to Certificateholders, be added to the unpaid principal balances of the related Mortgage Loans,
any related Serviced Companion Loan, notwithstanding that the terms of such Mortgage Loans or related Serviced Companion Loan,
so permit. If the Master Servicer fails to make any required Property Protection Advance as and when due (including any applicable
cure periods), to the extent the Trustee has actual knowledge of such failure, the Trustee shall make such Property Protection
Advance pursuant to

 

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Section 7.05. Notwithstanding anything herein to the contrary, no Property Protection Advance shall
be required hereunder if such Property Protection Advance would, if made, constitute a Nonrecoverable Property Protection Advance.
In addition, the Master Servicer shall consider Unliquidated Advances in respect of prior Property Protection Advances for purposes
of nonrecoverability determinations. The Special Servicers shall have no obligation to make any Property Protection Advances under
this Agreement.

 

Notwithstanding the foregoing
provisions of this Section 3.03(c), the Master Servicer shall not be required to reimburse the applicable Special Servicer
out of its own funds for, or to make at the direction of the applicable Special Servicer, any Property Protection Advance if the
Master Servicer determines in its reasonable judgment that such Property Protection Advance, although not characterized by the
applicable Special Servicer as a Nonrecoverable Property Protection Advance, is in fact a Nonrecoverable Property Protection Advance.
The Master Servicer shall notify the applicable Special Servicer in writing of such determination and, if applicable, such Nonrecoverable
Property Protection Advance shall be reimbursed to the applicable Special Servicer pursuant to Section 3.05(a).

 

Notwithstanding anything
to the contrary contained in this Section 3.03(c), the Master Servicer may in its good faith judgment elect (but shall not
be required unless directed by the applicable Special Servicer with respect to Specially Serviced Mortgage Loans and REO Loans)
to make a payment from amounts on deposit in the Collection Account (or any Serviced Whole Loan Custodial Account maintained as
a subaccount thereof by a Companion Paying Agent, if applicable) (which shall be deemed first made from amounts distributable
as principal and then from all other amounts comprising general collections) to pay for certain expenses set forth below
notwithstanding that the Master Servicer (or the applicable Special Servicer, as applicable) has determined that a Property Protection
Advance with respect to such expenditure would be a Nonrecoverable Property Protection Advance (unless, with respect to Specially
Serviced Mortgage Loans or REO Loans, the applicable Special Servicer has notified the Master Servicer to not make such expenditure),
where making such expenditure would prevent (i) the related Mortgaged Property from being uninsured or being sold at a tax sale
or (ii) any event that would cause a loss of the priority of the lien of the related Mortgage, or the loss of any security for
the related Mortgage Loan or Serviced Companion Loan; provided that in each instance, the Master Servicer or the applicable
Special Servicer, as applicable, determines in accordance with the Servicing Standard (as evidenced by an Officer’s Certificate
delivered to the Trustee) that making such expenditure is in the best interest of the Certificateholders, all as a collective whole
(taking into account the subordinate or pari passu nature of any Companion Loans). The Master Servicer or Trustee may elect
to obtain reimbursement of Nonrecoverable Property Protection Advances from the Trust pursuant to the terms of Section 3.17(c).
The parties acknowledge that pursuant to the applicable Non-Serviced Pooling Agreement, the applicable Non-Serviced Master Servicer
is obligated to make property protection advances with respect to the related Non-Serviced Whole Loan. The applicable Non-Serviced
Master Servicer shall be entitled to reimbursement for Nonrecoverable Property Protection Advances with respect to such Non-Serviced
Whole Loan (with, in each case, any accrued and unpaid interest thereon provided for under the applicable Non-Serviced Pooling
Agreement) in the manner set forth in the applicable Non-Serviced Pooling Agreement and the applicable Non-Serviced Co-Lender Agreement.

 

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(d)       In
connection with its recovery of any Property Protection Advance out of the Collection Account (or any Serviced Whole Loan Custodial
Account maintained as a subaccount thereof by the Companion Paying Agent, if applicable) pursuant to Section 3.05(a), the
Trustee, the applicable Special Servicer and then the Master Servicer, as the case may be and in that order, shall be entitled
to receive, out of any amounts then on deposit in the Collection Account interest at the Reimbursement Rate in effect from time
to time, accrued on the amount of such Property Protection Advance from the date made to, but not including, the date of reimbursement.
Subject to Section 3.17(c), the Master Servicer shall reimburse itself, the applicable Special Servicer or the Trustee,
as the case may be, for any outstanding Property Protection Advance as soon as practically possible after funds available for such
purpose are deposited in the Collection Account (or any Serviced Whole Loan Custodial Account maintained as a subaccount thereof
by the Companion Paying Agent, if applicable) subject to the Master Servicer’s or the Trustee’s options and rights
to defer recovery of such amounts as provided herein; provided, however, that such Master Servicer’s or Trustee’s
options and rights to defer recovery of such amounts shall not alter the Master Servicer’s obligation to reimburse such Special
Servicer for any outstanding Property Protection Advance as provided for in this sentence. To the extent amounts on deposit in
the Serviced Whole Loan Custodial Account with respect to the related Companion Loan are insufficient for any such reimbursement,
the Master Servicer shall use efforts in accordance with the Servicing Standard to enforce the rights of the holder of the related
Mortgage Loan under the related Co-Lender Agreement to obtain any reimbursement available from the holder of the related Companion
Loan.

 

(e)       To
the extent an operations and maintenance plan is required to be established and executed pursuant to the terms of a Mortgage Loan
(other than a Non-Serviced Mortgage Loan), the Master Servicer shall request from the Mortgagor written confirmation thereof within
a reasonable time after the later of the Closing Date and the date as of which plan is required to be established or completed.
To the extent any repairs, capital improvements, actions or remediations are required to have been taken or completed pursuant
to the terms of the Mortgage Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall request from the Mortgagor
written confirmation of such actions and remediations within a reasonable time after the later of the Closing Date and the date
as of which action or remediations are required to be or to have been taken or completed. To the extent a Mortgagor shall fail
to promptly respond to any inquiry described in this Section 3.03(e), the Master Servicer shall report any such failure
to the applicable Special Servicer within a reasonable time after the date as of which actions or remediations are required to
be or to have been taken or completed.

 

Section
3.04     The Collection Account, the Lower-Tier REMIC Distribution Account, the Upper-Tier
REMIC Distribution Account, the Serviced Whole Loan Custodial Account, the Interest Reserve Account, the Gain-on-Sale Reserve
Account, the Excess Interest Distribution Account, the Class PEZ Distribution Account and the Trust Subordinate Companion
Loan REMIC Distribution Accounts. (a) The Master Servicer shall establish and maintain, or cause to be established and
maintained, a Collection Account in which the Master Servicer shall deposit or cause to be deposited and in no event later
than the second Business Day following receipt of properly identified and available funds (in the case of payments by
Mortgagors or other collections on the Mortgage Loans or Companion Loans), except as otherwise specifically provided herein,
the following payments and collections received or made by or on behalf of it subsequent to the Cut-off Date (other than in
respect of principal and interest on the Mortgage

 

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Loans or Companion Loans due and payable on or before the Cut-off Date,
which payments shall be delivered promptly to the Mortgage Loan Seller or its designee and other than any amounts received
from Mortgagors which are received in connection with the purchase of defeasance collateral), or payments (other than
Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a period subsequent thereto:

 

(i)       all
payments on account of principal, including Principal Prepayments on the Mortgage Loans or principal prepayments on Serviced Companion
Loans;

 

(ii)       all
payments on account of interest on the Mortgage Loans or the Serviced Companion Loans, including Excess Interest, Yield Maintenance
Charges and Default Interest;

 

(iii)       late
payment charges and other Penalty Charges to the extent required to offset interest on Advances and additional expenses of the
Trust (other than Special Servicing Fees, Workout Fees or Liquidation Fees) as required by Section 3.11(d);

 

(iv)       all
Insurance and Condemnation Proceeds and Liquidation Proceeds (other than Gain-on-Sale Proceeds or Non-Serviced Gain-on-Sale Proceeds)
received in respect of any Mortgage Loan, Serviced Companion Loan or REO Property (other than (A) Liquidation Proceeds that are
received in connection with the purchase by the Master Servicer, the applicable Special Servicer the Holders of the majority of
the Controlling Class, or the Holders of the Class R Certificates of all the Mortgage Loans, the Trust Subordinate Companion Loan
and any REO Properties in the Trust Fund and that are to be deposited in the Lower-Tier REMIC Distribution Account pursuant to
Section 9.01 and (B) any proceeds that are received in connection with the purchase, if any, of a Serviced Pari Passu Companion
Loan from a securitization by the Mortgage Loan Seller, which shall be paid directly to the servicer of such securitization) together
with any recovery of Unliquidated Advances in respect of the related Mortgage Loans;

 

(v)       any
amounts required to be transferred from the applicable REO Account pursuant to Section 3.14(c);

 

(vi)       any
amounts required to be deposited by the Master Servicer pursuant to Section 3.06 in connection with losses incurred with
respect to Permitted Investments of funds held in the Collection Account; and

 

(vii)       any
amounts required to be deposited by the Master Servicer or any Special Servicer pursuant to Section 3.07(b) in connection
with losses resulting from a deductible clause in a blanket hazard or master single interest policy.

 

Notwithstanding the foregoing
requirements, the Master Servicer need not deposit into the Collection Account any amount that the Master Servicer would be authorized
to withdraw immediately from such account in accordance with the terms of Section 3.05 and shall be entitled to instead
immediately pay such amount directly to the Person(s) entitled thereto; provided that such amounts shall be applied in accordance
with the terms hereof and shall be reported as if deposited in such Collection Account and then withdrawn.

 

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The foregoing requirements
for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality
of the foregoing, actual payments from Mortgagors in the nature of Escrow Payments, charges for beneficiary statements or demands,
assumption fees, modification fees, extension fees, defeasance fees, amounts collected for Mortgagor checks returned for insufficient
funds or other amounts the Master Servicer or any Special Servicer would be entitled to retain as additional servicing compensation
need not be deposited by the Master Servicer in the Collection Account. If the Master Servicer shall deposit in the Collection
Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any
provision herein to the contrary notwithstanding. Assumption, extension and modification fees actually received from Mortgagors
on Specially Serviced Mortgage Loans shall be promptly delivered to the applicable Special Servicer as additional servicing compensation.

 

Upon receipt of any of
the foregoing amounts in clauses (i) through (iv) above with respect to any Specially Serviced Mortgage Loans, the
applicable Special Servicer shall remit within one (1) Business Day such amounts to the Master Servicer for deposit into the Collection
Account, in accordance with this Section 3.04(a). Any such amounts received by the applicable Special Servicer with respect
to an REO Property shall be deposited by such Special Servicer into its REO Account and remitted to the Master Servicer for deposit
into the Collection Account, pursuant to Section 3.14(c). With respect to any such amounts paid by check to the order of
the applicable Special Servicer, such Special Servicer shall endorse without recourse or warranty such check to the order of the
Master Servicer and shall promptly deliver any such check to the Master Servicer by overnight courier. Funds in the Collection
Account may only be invested in Permitted Investments in accordance with the provisions of Section 3.06. As of the Closing
Date, the Collection Account for the Master Servicer shall be located at the offices of Wells Fargo Bank, National Association.
The Master Servicer shall give notice to the Trustee, the applicable Special Servicer the Certificate Administrator and the Depositor
of the new location of the Collection Account prior to any change thereof.

 

For purposes of determining
amounts to be deposited in the Collection Account in respect of a Trust Subordinate Companion Loan and the related Mortgage Loan,
the Master Servicer shall determine the allocation of such amounts in accordance with the related Co-Lender Agreement. All amounts
so allocable to such Trust Subordinate Companion Loan shall be held separate and apart from other amounts deposited in the Collection
Account (or in a subaccount of the Collection Account) and may be withdrawn from the Collection Account (pursuant to Section
3.04 and otherwise) only to the extent set forth in this Agreement and not specifically prohibited under the related Co-Lender
Agreement.

 

(b)       The
Certificate Administrator, on behalf of the Trustee, shall establish and maintain (i) the Lower-Tier REMIC Distribution Account,
the Interest Reserve Account and the Gain-on-Sale Reserve Account in trust for the benefit of the Certificateholders (other than
the Holders of the Loan-Specific Certificates), (provided that any Gain-on-Sale Proceeds with respect to a Trust Subordinate
Companion Loan shall be deemed distributed by the related Trust Subordinate Companion Loan REMIC in respect of the AMA-R Interest
or BS-R Interest, as applicable, to the Holders of the Class R Certificates and then re-contributed in respect of the Class LR
Interest and held by the Certificate Administrator as an asset of the Lower-Tier REMIC for the benefit of the Trustee as Holder
of the Lower-Tier Regular Interests and the

 

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Certificateholders), (ii) the
Upper-Tier REMIC Distribution Account for the benefit of the Certificateholders (other than the Holders of Class S
Certificates and the Holders of Exchangeable Certificates), (iii) the Excess Interest Distribution Account for the benefit of
the Holders of the Class S Certificates, (iv) the Class PEZ Distribution Account for the benefit of the Holders of
Exchangeable Certificates and (v) each Trust Subordinate Companion Loan REMIC Distribution Account for the benefit of the
Holders of the related Loan-Specific Certificates. The Master Servicer shall deliver to the Certificate Administrator each
month on or before the Master Servicer Remittance Date therein, for deposit (w) in the Lower-Tier REMIC Distribution Account,
that portion of the Pooled Available Funds attributable to the Mortgage Loans (in each case, calculated without regard to clauses
(a)(iii)(B), (a)(iv), and (c) of the definition of Pooled Available Funds) for the related Distribution
Date, (x) in the Excess Interest Distribution Account all Excess Interest for the related Distribution Date, (y) in the AMA
Plaza Trust Subordinate Companion Loan REMIC Distribution Account, the AMA Plaza Available Funds attributable to the AMA
Plaza Trust Subordinate Companion Loan without regard to clause (c) or clause (e) of the definition of the AMA
Plaza Available Funds and (z) in the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account, the 225
Bush Street Available Funds attributable to the 225 Bush Street Trust Subordinate Companion Loan without regard to clause
(c) or clause (e) of the definition of the 225 Bush Street Available Funds.

 

With respect to each
Companion Loan (excluding any Non-Serviced Companion Loan), the Companion Paying Agent shall establish and maintain the Serviced
Whole Loan Custodial Account, which may be a subaccount of the Collection Account, for distributions to each Companion Holder,
to be held for the benefit of the related Companion Holder and shall, within 2 Business Days following receipt of available and
properly identified funds, deposit in the Serviced Whole Loan Custodial Account any and all amounts received by the Companion Paying
Agent that are required by the terms of this Agreement or the applicable Co-Lender Agreement to be deposited therein; provided,
however, that the Companion Paying Agent shall separately track for each Serviced Companion Loan all amounts deposited with
respect to such Serviced Companion Loan. The Master Servicer shall deliver to the Companion Paying Agent each month, on or before
the Master Servicer Remittance Date therein, for deposit in the Serviced Whole Loan Custodial Account, an aggregate amount of immediately
available funds, to the extent received with respect to the related Serviced Whole Loan, to the extent of available funds, equal
to the amount to be distributed to the related Companion Holder pursuant to the terms of this Agreement and the related Co-Lender
Agreement. Notwithstanding the preceding, the following provisions shall apply to remittances relating to the Serviced Companion
Loans that have been deposited into an Other Securitization: (1) on each Serviced Whole Loan Remittance Date, the Master Servicer
shall withdraw from the Collection Account (or applicable portion thereof) an aggregate amount equal to all payments and/or collections
actually received on, and payable to, such Serviced Companion Loans prior to such dates; provided, however, that
in no event shall the Master Servicer be required to transfer to the Serviced Whole Loan Custodial Account any portion thereof
that is payable or reimbursable to or at the direction of any party to this Agreement under the other provisions of this Agreement
and/or the related Co-Lender Agreement; (2) on each Serviced Whole Loan Remittance Date, the Companion Paying Agent shall make
the payments and remittance described in Section 4.01(k), which payments and remittance shall be made, in each case, on
the Serviced Whole Loan Remittance Date.

 

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The Lower-Tier REMIC
Distribution Account, the Upper-Tier REMIC Distribution Account, the Excess Interest Distribution Account, the Gain-on-Sale Reserve
Account, the Interest Reserve Account, the Serviced Whole Loan Custodial Account the Class PEZ Distribution Account and the Trust
Subordinate Companion Loan REMIC Distribution Accounts may be subaccounts of a single Eligible Account, which shall be maintained
as a segregated account separate from other accounts.

 

In addition to the amounts
required to be deposited in the Lower-Tier REMIC Distribution Account or the Trust Subordinate Companion Loan REMIC Distribution
Accounts pursuant to this Section 3.04, the Master Servicer shall, as and when required hereunder, deliver to the Certificate
Administrator for deposit in the Lower-Tier REMIC Distribution Account or the REMIC Distribution Account, as applicable:

 

(i)       any
amounts required to be deposited by the Master Servicer pursuant to Section 3.17(a) as Compensating Interest Payments (other
than the portion of any Compensating Interest Payment allocated to a Serviced Pari Passu Companion Loan) in connection with Prepayment
Interest Shortfalls;

 

(ii)       any
P&I Advances required to be made by the Master Servicer in accordance with Section 4.03;

 

(iii)       any
Liquidation Proceeds paid by the Master Servicer, the applicable Special Servicer the Holders of the Controlling Class or the Holders
of the Class R Certificates in connection with the purchase of all of the Mortgage Loans and the Trust Subordinate Companion Loans
and any REO Properties in the Trust Fund pursuant to Section 9.01 (exclusive of that portion thereof required to be deposited
in the Collection Account pursuant to Section 9.01);

 

(iv)       any
Yield Maintenance Charges with respect to the Mortgage Loans and the Trust Subordinate Companion Loans, as applicable, actually
collected; and

 

(v)       any
other amounts required to be so delivered for deposit in the Lower-Tier REMIC Distribution Account or the Trust Subordinate Companion
Loan REMIC Distribution Accounts (in respect of the Trust Subordinate Companion Loans) pursuant to any provision of this Agreement.

 

If, as of the close of
business (New York City time) on any Master Servicer Remittance Date or on such other date as any amount referred to in the foregoing
clauses (i) through (v), the Master Servicer shall not have delivered to the Certificate Administrator for deposit
in the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account or the Trust Subordinate Companion Loan
REMIC Distribution Accounts (in respect of the Trust Subordinate Companion Loans), as applicable, the amounts required to be deposited
therein pursuant to the provisions of this Agreement (including any P&I Advance with respect to the Mortgage Loans, pursuant
to Section 4.03(a) hereof), the Master Servicer shall pay the Certificate Administrator interest on such late payment at
the Prime Rate from and including the date such payment was required to be made (without regard to any Grace Period set forth in

 

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Section 7.01(a)(i)) until (but not including) the date such late payment is received by the Certificate Administrator.

 

The Certificate Administrator
shall, upon receipt, deposit in the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account or the Trust
Subordinate Companion Loan REMIC Distribution Accounts (in respect of the Trust Subordinate Companion Loans) as applicable, any
and all amounts received by the Certificate Administrator that are required by the terms of this Agreement to be deposited therein.

 

Promptly on each Distribution
Date, the Certificate Administrator shall be deemed to withdraw from the Lower-Tier REMIC Distribution Account and deposit in the
Upper-Tier REMIC Distribution Account an aggregate amount of immediately available funds equal to the Lower-Tier Distribution Amount
and the amount of any Yield Maintenance Charges for such Distribution Date allocated in payment of the Lower-Tier Regular Interests
as specified in Section 4.01(c) and Section 4.01(e), respectively.

 

Funds on deposit in the
Gain-on-Sale Reserve Account, the Interest Reserve Account, the Excess Interest Distribution Account, the Serviced Whole Loan Custodial
Account, the Class PEZ Distribution Account, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account
or the Trust Subordinate Companion Loan REMIC Distribution Accounts shall not be invested for so long as Wells Fargo Bank, National
Association is the Certificate Administrator; provided, however, that if, at any time, Wells Fargo Bank, National
Association is no longer the Certificate Administrator, such funds may be invested and, if invested, shall be invested by, and
at the risk of, the Certificate Administrator in Permitted Investments selected by the Certificate Administrator which shall mature,
unless payable on demand, not later than such time on the Distribution Date which will allow the Certificate Administrator to make
withdrawals from the Distribution Account, and any such Permitted Investment shall not be sold or disposed of prior to its maturity
unless payable on demand. All such Permitted Investments shall be made in the name of “[name of successor certificate administrator],
as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee for the Holders of the GS Mortgage
Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 as their interests may appear”,
or in the name of any successor trustee, as Trustee for the Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 as their interests may appear. None of the Trust, the Depositor, the Mortgagors, the
Master Servicer or the applicable Special Servicer shall be liable for any loss incurred on such Permitted Investments.

 

An amount equal to all
income and gain realized from any such investment shall be paid to the Certificate Administrator as additional compensation and
shall be subject to its withdrawal at any time from time to time. The amount of any losses incurred in respect of any such investments
shall be for the account of the Certificate Administrator which shall deposit the amount of such loss (to the extent not offset
by income from other investments) in the Distribution Accounts, as the case may be, out of its own funds immediately as realized.
If the Certificate Administrator deposits in or transfers to the Distribution Accounts, as the case may be, any amount not required
to be deposited therein or transferred thereto, it may at any time

 

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withdraw such amount or retransfer such amount from the Distribution
Accounts, as the case may be, any provision herein to the contrary notwithstanding.

 

As of the Closing Date,
the Interest Reserve Account, the Excess Interest Distribution Account, the Class PEZ Distribution Account, the Upper-Tier REMIC
Distribution Account, the Lower-Tier REMIC Distribution Account and the Trust Subordinate Companion Loan REMIC Distribution Accounts
shall be located at the offices of the Certificate Administrator. The Certificate Administrator shall give notice to the Trustee,
the Master Servicer and the Depositor of the proposed location of the Interest Reserve Account, the Excess Interest Distribution
Account, the Class PEZ Distribution Account, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account,
the Trust Subordinate Companion Loan REMIC Distribution Accounts and, if established, the Gain-on-Sale Reserve Account prior to
any change thereof.

 

For the avoidance of
doubt, the Collection Account (other than any portion holding Excess Interest and the Serviced Whole Loan Custodial Account, if
it is a sub-account of the Collection Account), the Lower-Tier REMIC Distribution Account, the Gain-on-Sale Reserve Account, any
Servicing Account, the REO Accounts, and the Interest Reserve Account (including interest, if any, earned on the investment of
funds in such accounts) will be owned by the Lower-Tier REMIC; the Excess Interest Distribution Account (and any portion of the
Collection Account holding Excess Interest) and the Class PEZ Distribution Account (including interest, if any, earned on the investment
of funds in such account) will be owned by the Grantor Trust for the benefit of the Holders of Class S Certificates and Exchangeable
Certificates, respectively; the Serviced Whole Loan Custodial Account (including interest, if any, earned on the investment of
funds in such account) will be owned by the Companion Holders, as applicable; the Upper-Tier REMIC Distribution Account (including
interest, if any, earned on the investment of funds in such account) will be owned by the Upper-Tier REMIC; the AMA Plaza Trust
Subordinate Companion Loan REMIC Distribution Account (including interest, if any, earned on the investment of funds in such account)
will be owned by the AMA Plaza Trust Subordinate Companion Loan REMIC; and the 225 Bush Street Trust Subordinate Companion Loan
REMIC Distribution Account (including interest, if any, earned on the investment of funds in such account) will be owned by the
225 Bush Street Trust Subordinate Companion Loan REMIC, each for federal income tax purposes.

 

(c)       Prior
to any Determination Date for the first Collection Period during which Excess Interest is received on any Mortgage Loan, and upon
notification from the Master Servicer or applicable Special Servicer pursuant to Section 3.02(d), the Certificate Administrator,
on behalf of the Certificateholders, shall establish and maintain the Excess Interest Distribution Account in its own name on behalf
of the Trustee in trust for the benefit of the Holders of the Class S Certificates. The Excess Interest Distribution Account shall
be established and maintained as an Eligible Account (or as a subaccount of an Eligible Account). Prior to the applicable Distribution
Date, the Master Servicer shall remit to the Certificate Administrator for deposit in the Excess Interest Distribution Account
an amount equal to the Excess Interest received prior to the Determination Date for the applicable Collection Period.

 

(d)       Following
the distribution of Excess Interest to Holders of the Class S Certificates on the first Distribution Date after which there are
no longer any Mortgage Loans

 

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outstanding which pursuant to their terms could pay Excess Interest, the Certificate Administrator
shall terminate the Excess Interest Distribution Account.

 

(e)       The
Certificate Administrator shall establish (upon notice from the applicable Special Servicer of an event occurring that generates
Gain-on-Sale Proceeds) and maintain the Gain-on-Sale Reserve Account for the benefit of the Certificateholders. The Gain-on-Sale
Reserve Account shall be maintained as an Eligible Account (or as a subaccount of an Eligible Account), separate and apart from
trust funds for mortgage pass-through certificates of other series administered by the Certificate Administrator.

 

Upon the disposition
of any REO Property, in accordance with Section 3.09 or Section 3.16, the applicable Special Servicer will calculate
the Gain-on-Sale Proceeds, if any, realized that are allocable to the Mortgage Loan or Trust Subordinate Companion Loan, as applicable,
in connection with such sale and remit such funds to the Certificate Administrator for deposit into the Gain-on-Sale Reserve Account.
In the case of the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan, any Gain-on-Sale Proceeds on such disposition that
are allocable to the related Trust Subordinate Companion Loan in accordance with the terms of the related Co-Lender Agreement shall
be remitted to the Certificate Administrator for deposit into the related Trust Subordinate Companion Loan REMIC Distribution Account.
Any gain on such disposition that is allocable to any related Companion Loan in accordance with the terms of the related Co-Lender
Agreement shall be remitted to the Companion Paying Agent for deposit into the Serviced Whole Loan Custodial Account.

 

(f)       Any
Non-Serviced Gain-on-Sale Proceeds received with respect to any Non-Serviced Mortgage Loan pursuant to the related Non-Serviced
Pooling Agreement shall be remitted to the Certificate Administrator for deposit into the Gain-on-Sale Reserve Account.

 

(g)       The
Certificate Administrator shall establish and maintain the Class PEZ Distribution Account, in its own name on behalf of the Trustee,
in trust for the benefit of the Holders of the Exchangeable Certificates, which shall be an asset of the Trust and the Grantor
Trust, but shall not be an asset of any Trust REMIC. The Class PEZ Distribution Account shall be established and maintained as
an Eligible Account or a subaccount of an Eligible Account. The Certificate Administrator shall make or be deemed to have made
deposits in and withdrawals from the Class PEZ Distribution Account in accordance with Article IV of this Agreement.

 

(h)       The
Certificate Administrator shall establish and maintain the AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account,
in its own name on behalf of the Trustee, in trust for the benefit of the Holders of the AMA Plaza Loan-Specific Certificates,
which shall be assets of the Trust and the AMA Plaza Trust Subordinate Companion Loan REMIC, but shall not be assets of any other
Trust REMICs. The AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account shall be established and maintained as
an Eligible Account or a subaccount of an Eligible Account. The Certificate Administrator shall make or be deemed to have made
deposits in and withdrawals from the AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account in accordance with Section
3.05 and Article IV of this Agreement.

 

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(i)       The
Certificate Administrator shall establish and maintain the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution
Account, in its own name on behalf of the Trustee, in trust for the benefit of the Holders of the 225 Bush Street Loan-Specific
Certificates, which shall be assets of the Trust and the 225 Bush Street Trust Subordinate Companion Loan REMIC, but shall not
be assets of any other Trust REMICs. The 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account shall be established
and maintained as an Eligible Account or a subaccount of an Eligible Account. The Certificate Administrator shall make or be deemed
to have made deposits in and withdrawals from the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account in
accordance with Section 3.05 and Article IV of this Agreement.

 

(j)       If
any Loss of Value Payments are received in connection with a Material Defect pursuant to or as contemplated by Section 3.05(g)
of this Agreement, the applicable Special Servicer shall establish and maintain one or more non-interest bearing accounts (collectively,
the “Loss of Value Reserve Fund”) to be held for the benefit of the Certificateholders, for purposes of holding
such Loss of Value Payments. Each account that constitutes the Loss of Value Reserve Fund shall be an Eligible Account or a sub-account
of an Eligible Account. The applicable Special Servicer shall, upon receipt, deposit in the Loss of Value Reserve Fund all Loss
of Value Payments received by it. The Certificate Administrator shall, based upon information obtained from the CREFC®
reports delivered by the Master Servicer pursuant to the terms hereof, account for the Loss of Value Reserve Fund as an outside
reserve fund within the meaning of Treasury Regulations Section 1.860G-2(h) and not an asset of any Trust REMIC or the Grantor
Trust. Furthermore, for all federal tax purposes, the Certificate Administrator shall (i) treat amounts paid out of the Loss of
Value Reserve Fund through the Collection Account to the Certificateholders as contributed to and distributed by the Trust REMICs
and (ii) treat any amounts paid out of the Loss of Value Reserve Fund through the Collection Account to a Mortgage Loan Seller
as distributions by the Trust to the Mortgage Loan Seller as beneficial owner of the Loss of Value Reserve Fund. The Mortgage Loan
Seller will be the beneficial owner of the Loss of Value Reserve Fund for all federal income tax purposes, and shall be taxable
on all income earned thereon.

 

Section
3.05     Permitted Withdrawals from the Collection Account, the Distribution Accounts and the
Serviced Whole Loan Custodial Account. (a) The Master Servicer may, from time to time, make withdrawals from the
Collection Account (or the applicable subaccount of the Collection Account exclusive of the Serviced Whole Loan Custodial
Account that may be a subaccount of the Collection Account) for any of the following purposes (the following not being an
order of priority and without duplication of the same payment or reimbursement):

 

(i)       (A)
no later than 4:00 p.m., New York City time, on each Master Servicer Remittance Date, to remit to the Certificate Administrator
for deposit in the Lower-Tier REMIC Distribution Account (or the Trust Subordinate Companion Loan REMIC Distribution Accounts in
respect of the Trust Subordinate Companion Loans) and the Excess Interest Distribution Account the amounts required to be remitted
pursuant to the first paragraph of Section 3.04(b) or that may be applied to make P&I Advances pursuant to Section
4.03(a); and (B) pursuant to the second paragraph of Section 3.04(b), to remit

 

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to the Companion Paying Agent for deposit
in the Serviced Whole Loan Custodial Account the amounts required to be so deposited with respect to the Companion Loans;

 

(ii)       (A)
to pay itself (or, with respect to any Transferable Servicing Interest, to pay Wells Fargo Bank, National Association if Wells
Fargo Bank, National Association is no longer the Master Servicer, any such interest pursuant to Section 3.11(a)) unpaid
Servicing Fees in respect of each Mortgage Loan, Companion Loan, Specially Serviced Mortgage Loan, and REO Loan, as applicable,
the Master Servicer’s rights to payment of Servicing Fees pursuant to this clause (ii)(A) with respect to any Mortgage
Loan, related Serviced Companion Loan, Specially Serviced Mortgage Loan or REO Loan, as applicable, being limited to amounts received
on or in respect of such Mortgage Loan or related Serviced Companion Loan (whether in the form of payments, Liquidation Proceeds
or Insurance and Condemnation Proceeds) or such REO Loan (whether in the form of REO Revenues, Liquidation Proceeds or Insurance
and Condemnation Proceeds), that are allocable as recovery of interest thereon, (B) to pay the applicable Special Servicer any
unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of each Specially Serviced Mortgage Loan or REO Loan
or Corrected Loan, as applicable, and any expense incurred by such Special Servicer in connection with performing any inspections
pursuant to Section 3.12(a), remaining unpaid first, out of related REO Revenues, Liquidation Proceeds, Insurance
and Condemnation Proceeds and collections in respect of the related Specially Serviced Mortgage Loan (provided that, in
the case of such payment relating to a Serviced Whole Loan, such payment shall be made, subject to the terms of the related Co-Lender
Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced
Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan, in accordance with their respective Stated Principal Balances,
or (ii) with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan (and with respect
to the AMA Plaza Whole Loan, first, from the Non-Trust Subordinate Companion Loan and then, from the related Trust
Subordinate Companion Loan), and then, from the AB Mortgage Loan (and any related Pari Passu Companion Loans on a pro
rata basis) and then out of general collections on the Mortgage Loans and REO Properties, (C) to pay the Operating Advisor
any unpaid Operating Advisor Fees or Operating Advisor Consulting Fees in respect of each Mortgage Loan, Specially Serviced Mortgage
Loan or REO Loan (other than any related Companion Loan) or Trust Subordinate Companion Loan, as applicable, the Operating Advisor’s
right to payment of the Operating Advisor Fee or Operating Advisor Consulting Fee pursuant to this clause (ii)(C) with respect
to any Mortgage Loan, Specially Serviced Mortgage Loan, or REO Loan (other than any related Companion Loan) or Trust Subordinate
Companion Loan, as applicable, for so long as no Consultation Termination Event is continuing, being limited to amounts received
on or in respect of such Mortgage Loan or Trust Subordinate Companion Loan, (whether in the form of payments, P&I Advances
(solely with respect to the Operating Advisor Fee), Liquidation Proceeds or Insurance and Condemnation Proceeds), such REO Loan
(whether in the form of REO Revenues, Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable as recovery
of interest thereon, and (D) to pay the Asset Representations Reviewer (1) any unpaid Asset Representations Reviewer Fee in respect
of each Mortgage Loan, Specially Serviced Mortgage Loan or REO Loan

 

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(in each case, other than any related Companion Loan), as applicable,
the Asset Representations Reviewer’s right to payment of the Asset Representations Reviewer Fee pursuant to this clause
(ii)(D)(1) with respect to any Mortgage Loan, Specially Serviced Mortgage Loan or REO Loan (in each case, other than any related
Companion Loan), as applicable, being limited to amounts received on or in respect of such Mortgage Loan (whether in the form of
payments, P&I Advances, Liquidation Proceeds or Insurance and Condemnation Proceeds), Specially Serviced Mortgage Loan or REO
Loan (whether in the form of REO Revenues, Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable as
recovery of interest thereon, or (2) (to the extent such fee is payable as a Trust Fund expense) any unpaid Asset Representations
Reviewer Asset Review Fee payable in connection with any Asset Review that was performed as a result of an Affirmative Asset Review
Vote;

 

(iii)       to
reimburse the Trustee and itself, as applicable (in that order), for unreimbursed P&I Advances, the Master Servicer’s
or the Trustee’s right to reimbursement pursuant to this clause (iii) being limited to amounts received which represent
Late Collections of interest (net of the related Servicing Fee) on and principal of the particular Mortgage Loans and REO Loans
with respect to which P&I Advances were made; provided that with respect to each Serviced Whole Loan, reimbursement
of P&I Advances shall be made only from amounts collected with respect to the related Serviced Mortgage Loan and not from any
amounts collected with respect to any related Serviced Companion Loan (provided that, with respect to any AB Subordinate
Companion Loan or Trust Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Co-Lender Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related
Serviced Mortgage Loan, AB Subordinate Companion Loan or Trust Subordinate Companion Loan) prior to reimbursement from other funds
unrelated to such Serviced Whole Loan on deposit in the Collection Account; provided, further, that if such P&I
Advance with respect to a Mortgage Loan becomes a Workout-Delayed Reimbursement Amount, then the maker of such P&I Advance
shall additionally, but without duplication, thereafter be entitled to reimbursement for such P&I Advance from the portion
of general collections and recoveries on or in respect of the Mortgage Loans and REO Properties on deposit in the Collection Account
from time to time that represent collections or recoveries of principal to the extent provided in clause (v) below; and
provided, further, that if such Advance becomes a Nonrecoverable Advance, then such Advance shall be reimbursable
pursuant to clause (v) below;

 

(iv)       to
reimburse the Trustee, the applicable Special Servicer and itself, as applicable (in that order), for unreimbursed Property Protection
Advances, the Master Servicer’s, the applicable Special Servicer’s or the Trustee’s respective rights to receive
payment pursuant to this clause (iv) with respect to any Mortgage Loan or Trust Subordinate Companion Loan (other than a
Non-Serviced Mortgage Loan) or any related Companion Loan or any REO Property being limited to, as applicable, related payments,
Liquidation Proceeds, Insurance and Condemnation Proceeds and REO Revenues (provided that, in the case of such reimbursement
relating to a Serviced Whole Loan, such reimbursements shall be made, subject to the terms of the related Co-Lender Agreement (i)
with respect to a Serviced Pari Passu Whole Loan, pro rata and pari

 

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passu, from the related Serviced Pari Passu Mortgage
Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated Principal Balances, or (ii) with respect
to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole
Loan, first, to the Non-Trust Subordinate Companion Loan and then, to the related Trust Subordinate Companion Loan),
and then, from any related AB Mortgage Loan (and any Pari Passu Companion Loans, on a pro rata basis) (provided
that, with respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Co-Lender Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related
Serviced Mortgage Loan and AB Subordinate Companion Loan)), prior to reimbursement from other funds unrelated to such Serviced
Whole Loan on deposit in the Collection Account related to any Mortgage Loan); provided, however, that if such Property
Protection Advance becomes a Workout-Delayed Reimbursement Amount, then the maker of such Property Protection Advance shall additionally,
but without duplication, thereafter be entitled to reimbursement for such Property Protection Advance from the portion of general
collections and recoveries on or in respect of the Mortgage Loans and REO Properties on deposit in the Collection Account from
time to time that represent collections or recoveries of principal to the extent provided in clause (v) below; provided,
further, that if such Advance becomes a Nonrecoverable Advance, then such Advance shall be reimbursable pursuant to clause
(v) below;

 

(v)       to
reimburse the Trustee, the applicable Special Servicer and itself, as applicable (in that order) (1) for Nonrecoverable Advances
first, out of REO Revenues, Liquidation Proceeds and Insurance and Condemnation Proceeds, if any, received on the related
Mortgage Loan and any related Companion Loan (with respect to such Companion Loan, only for Nonrecoverable Property Protection
Advances made with respect thereto), then, out of the principal portion of general collections on the Mortgage Loans and
REO Properties, then, to the extent the principal portion of general collections is insufficient and with respect to such
excess only, subject to any exercise of the sole option to defer reimbursement thereof pursuant to Section 3.17(c), out
of general collections on the Mortgage Loans and REO Properties, (2) for Workout-Delayed Reimbursement Amounts, out of the principal
portion of the general collections on the Mortgage Loans and REO Properties net of such amounts being reimbursed pursuant to (1)
above; (provided that, in case of such reimbursement of a Nonrecoverable Property Protection Advance relating to a Serviced
Whole Loan related thereto, such reimbursement shall be made, subject to the terms of the related Co-Lender Agreement (i) with
respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced Pari Passu Mortgage
Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated Principal Balances, or (ii) with respect
to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole
Loan, first, from the Non-Trust Subordinate Companion Loan and then, from the related Trust Subordinate Companion
Loan), and then from the AB Mortgage Loan (and any Pari Passu Companion Loans, on a pro rata basis) and provided,
further, that, in case of such reimbursement with respect to Nonrecoverable Property Protection Advances relating to a Serviced
Whole Loan, such reimbursement shall be made as described above in this clause (v)(1) and (v)(2), prior to

 

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reimbursement
from other funds unrelated to such Serviced Whole Loan on deposit in the Collection Account; provided, further, that
with respect to a Serviced Mortgage Loan or Trust Subordinate Companion Loan, reimbursement of Nonrecoverable P&I Advances
from funds collected from the related Serviced Whole Loan shall be made only from amounts collected with respect to such Serviced
Mortgage Loan or Trust Subordinate Companion Loan (and not from any amounts collected with respect to the related Serviced Companion
Loan), in accordance with the terms of the related Co-Lender Agreement (provided that, with respect to any Serviced Companion
Loan, the foregoing with respect to Nonrecoverable Property Protection Advances and Nonrecoverable P&I Advances shall not limit
or otherwise modify the terms of the related Co-Lender Agreement pursuant to which any amounts collected with respect to the related
Whole Loan, are allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan or Trust Subordinate Companion
Loan), prior to reimbursement from other funds unrelated to such Serviced Whole Loan on deposit in the Collection Account related
to any Mortgage Loan) or (3) to pay itself, with respect to any Mortgage Loan, any related Companion Loan, if applicable, or REO
Property any related earned Servicing Fee that remained unpaid in accordance with clause (ii) above following a Final Recovery
Determination made with respect to such Mortgage Loan or REO Property and the deposit into the Collection Account of all amounts
received in connection therewith;

 

(vi)       at
such time as it reimburses the Trustee and itself, a applicable (in that s order) or any Other Trustee or Other Servicer for a
related securitization trust in respect of any Serviced Pari Passu Companion Loan for (a) any unreimbursed P&I Advance (including
any such P&I Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iii) or clause
(v) above, to pay itself and/or the Trustee or such other servicing party, as applicable, any interest accrued and payable
thereon in accordance with Sections 4.03(d) and 3.11(d), (b) any unreimbursed Property Protection Advances (including
any such Property Protection Advance that constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause (iv) or
clause (v) above, to pay itself, the applicable Special Servicer or the Trustee, or Other Trustee or Other Servicer as the
case may be, any interest accrued and payable thereon in accordance with Section 3.03(d) and 3.11(d) or (c) any Nonrecoverable
Advances pursuant to clause (v) above, to pay itself, the applicable Special Servicer or the Trustee, or Other Trustee or
Other Servicer as the case may be, any interest accrued and payable thereon; provided that in all events, subject to the
related Co-Lender Agreement, interest on P&I Advances on any Serviced Mortgage Loan shall not be paid from funds actually distributable
to any related Serviced Companion Loan, and interest on Servicing Advances on any Serviced Whole Loan shall be paid (1) with respect
to a Serviced Pari Passu Whole Loan, pro rata and pari passu, out of collections on the related Serviced Pari Passu
Mortgage Loan and Serviced Pari Passu Companion Loan(s) in accordance with their respective outstanding principal balances, or
(ii) with respect to a Serviced AB Whole Loan, first, out of collections on the related AB Subordinate Companion Loan and
then, pro rata and pari passu, out of collections on the related Serviced Mortgage Loan and the related Serviced
Pari Passu Companion Loan(s) (if any), in accordance with the respective Stated Principal Balances of the related Serviced Mortgage
Loan and Serviced Pari passu Companion Loan(s) (provided that, with respect to any AB Subordinate Companion

 

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Loan, the foregoing
shall not limit or otherwise modify the terms of the related Co-Lender Agreement pursuant to which any amounts collected with respect
to the related Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan);

 

(vii)       to
reimburse itself, the applicable Special Servicer, Asset Representations Reviewer or the Trustee, as the case may be, for any unreimbursed
expenses reasonably incurred by such Person in respect of any Material Defect giving rise to a repurchase or substitution obligation
of the Mortgage Loan Seller or any other obligation of the Mortgage Loan Seller under Section 6 of the Mortgage Loan Purchase Agreement,
including, without limitation, any expenses arising out of the enforcement of the repurchase or substitution obligation or any
other obligation of the Mortgage Loan Seller, each such Person’s right to reimbursement pursuant to this clause (vii)
with respect to any Mortgage Loan or Trust Subordinate Companion Loan, as applicable, being limited to that portion of the Purchase
Price, the Loss of Value Payment or Substitution Shortfall Amount paid with respect to such Mortgage Loan or the related Trust
Subordinate Companion Loan, as applicable, that represents such expense in accordance with clause (iv) of the definition
of Purchase Price;

 

(viii)       to
reimburse itself or the applicable Special Servicer, as the case may be, first, out of Liquidation Proceeds, Insurance and
Condemnation Proceeds, if any, with respect to the related Mortgage Loan, Trust Subordinate Companion Loan or REO Loan, and then
out of general collections on the Mortgage Loans, Trust Subordinate Companion Loan and REO Properties, for any unreimbursed expense
reasonably incurred by such Person in connection with the enforcement of the Mortgage Loan Seller’s obligations under Section
6 of the Mortgage Loan Purchase Agreement, but only to the extent that such expenses are not reimbursable pursuant to clause
(vii) above or otherwise; provided that, in case of such reimbursement out of Liquidation Proceeds, and Insurance and
Condemnation Proceeds described above relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms
of the related Co-Lender Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu,
from the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated
Principal Balances or (ii) with respect to a Serviced AB Whole Loan,
first, from the related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole Loan, first, from
the Non-Trust Subordinate Companion Loan and then, from the related Trust Subordinate Companion Loan), and then,
from any related AB Mortgage Loan (and any Pari Passu Companion Loans, on a pro rata basis) (provided that, with
respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related Co-Lender
Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related Serviced
Mortgage Loan and AB Subordinate Companion Loan), in each case, prior to being payable out of general collections with respect
to the Mortgage Loans;

 

(ix)       to
pay for costs and expenses incurred by the Trust pursuant to Section 3.09(c) first, out of REO Revenues, Liquidation
Proceeds, Insurance and Condemnation Proceeds with respect to the related Mortgage Loan, Serviced Companion

 

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Loan or REO Loan and
then out of general collections on the Mortgage Loans and REO Properties; provided that, in case of such reimbursement
relating to a Serviced Whole Loan, as applicable, such reimbursement shall be made, subject to the terms of the related Co-Lender
Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced
Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated Principal Balances or
(ii) with respect to a Serviced AB Whole Loan, first, from the
related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole Loan, first, from the Non-Trust Subordinate
Companion Loan and then, from the related Trust Subordinate Companion Loan), and then, from any related AB Mortgage
Loan (and any Pari Passu Companion Loans, on a pro rata basis) (provided that, with respect to any AB Subordinate
Companion Loan or Trust Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Co-Lender Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related
Serviced Mortgage Loan and AB Subordinate Companion Loan), in each case, prior to being payable out of general collections with
respect to the Mortgage Loan;

 

(x)       to
pay itself, as additional servicing compensation in accordance with Section 3.11(a), (a) (1) interest and investment income
earned in respect of amounts relating to the Trust Fund held in the Collection Account and the Serviced Whole Loan Custodial Account
as provided in Section 3.06(b) (but only to the extent of the Net Investment Earnings with respect to the Collection Account
and the Serviced Whole Loan Custodial Account for the period from and including the prior Distribution Date to and including the
Master Servicer Remittance Date related to such Distribution Date), (2) Penalty Charges (other than Penalty Charges collected while
the related Mortgage Loan and any related Serviced Companion Loan is a Specially Serviced Mortgage Loan), but only to the extent
collected from the related Mortgagor and to the extent that all amounts then due and payable with respect to the related Mortgage
Loan and any related Serviced Companion Loan have been paid and such Penalty Charges are not needed to pay interest on Advances
or costs and expenses incurred by the Trust (other than Special Servicing Fees, Liquidation Fees and Workout Fees) in accordance
with Section 3.11(d) and (3) the difference, if positive, between Prepayment Interest Excess and Prepayment Interest Shortfalls
collected on the Mortgage Loans (other than the Non-Serviced Mortgage Loans) and any Serviced Companion Loan, during the related
Collection Period to the extent not required to be paid as Compensating Interest Payments; and (b) to pay the applicable Special
Servicer, as additional servicing compensation in accordance with Section 3.11(c), Penalty Charges collected on Specially
Serviced Mortgage Loans (but only to the extent collected from the related Mortgagor and to the extent that all amounts then due
and payable with respect to the related Specially Serviced Mortgage Loan have been paid and such Penalty Charges are not needed
to pay interest on Advances or costs and expenses incurred by the Trust (other than Special Servicing Fees, Liquidation Fees and
Workout Fees) in accordance with Section 3.11(d));

 

(xi)       to
recoup any amounts deposited in the Collection Account in error;

 

(xii)       (A)
to pay itself, the applicable Special Servicer, the Depositor, the Operating Advisor, the Asset Representations Reviewer or any
of their respective

 

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directors, officers, members, managers, employees and agents, or CREFC®, as the case may be,
out of general collections, any amounts payable to any such Person pursuant to Section 3.11(g), Section 6.04(a) or
Section 6.04(b); provided that, in case of such reimbursement (other than a reimbursement of any amounts payable
to CREFC®) relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms of the related
Co-Lender Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related
Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated Principal Balances
or (ii) with respect to a Serviced AB Whole Loan, first, from
the related AB Subordinate Companion Loan (and with respect to the AMA Plaza Whole Loan, first, from the Non-Trust Subordinate
Companion Loan and then, from the related Trust Subordinate Companion Loan), and then, from any related AB Mortgage
Loan (and any Pari Passu Companion Loans, on a pro rata basis) (provided that, with respect to any AB Subordinate
Companion Loan or Trust Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Co-Lender Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the related
Serviced Mortgage Loan and AB Subordinate Companion Loan), in each case, prior to being payable out of general collections with
respect to the Mortgage Loans and (B) to reimburse or pay any party to this Agreement any unpaid expenses specifically reimbursable
from the Collection Account under this Agreement;

 

(xiii)       to
pay for (a) the cost of the Opinions of Counsel contemplated by Sections 3.09(b), 3.14(a), 3.15(b), 3.18(c),
3.18(e), 3.18(j) and 10.01(f) to the extent payable out of the Trust Fund, (b) the cost of any Opinion of
Counsel contemplated by Sections 13.01(a) or Section 13.01(c) in connection with an amendment to this Agreement requested
by the Trustee or the Master Servicer, which amendment is in furtherance of the rights and interests of Certificateholders and
(c) the cost of obtaining the REO Extension contemplated by Section 3.14(a); provided that, in case of such reimbursement
relating to a Serviced Whole Loan, such reimbursement shall be made, subject to the terms of the related Co-Lender Agreement (i)
with respect to the related Serviced Pari Passu Whole Loan, pro rata and pari passu, from the related Serviced Pari
Passu Mortgage Loan and Serviced Pari Passu Companion Loan in accordance with their respective Stated Principal Balances or (ii)
with respect to a Serviced AB Whole Loan, first, from the related AB Subordinate Companion Loan (and with respect to the
AMA Plaza Whole Loan, first, from the Non-Trust Subordinate Companion Loan and then, from the related Trust Subordinate
Companion Loan), and then, from any related AB Mortgage Loan (and any Pari Passu Companion Loans, on a pro rata basis)
(provided that, with respect to any AB Subordinate Companion Loan or Trust Subordinate Companion Loan, the foregoing shall
not limit or otherwise modify the terms of the related Co-Lender Agreement pursuant to which any amounts collected with respect
to the related Whole Loan are allocated to the related Serviced Mortgage Loan and AB Subordinate Companion Loan), in each case,
prior to being payable out of general collections with respect to the Mortgage Loans;

 

(xiv)       to
pay out of general collections on the Mortgage Loans and the REO Properties any and all federal, state and local taxes imposed
on any Trust REMIC, or any of their assets or transactions, together with all incidental costs and expenses, to the

 

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extent that
none of the Master Servicer, the applicable Special Servicer, the Certificate Administrator or the Trustee is liable therefor pursuant
to Section 10.01(g);

 

(xv)       to
pay the CREFC® Intellectual Property Royalty License Fee;

 

(xvi)       to
reimburse the Certificate Administrator out of general collections on the Mortgage Loans, the Trust Subordinate Companion Loans
and REO Properties for expenses incurred by and reimbursable to it by the Trust pursuant to Section 10.01(c);

 

(xvii)       to
pay the Mortgage Loan Seller or any other Person, with respect to each Mortgage Loan, if any (or the related Trust Subordinate
Companion Loan, if applicable), previously purchased by such Person pursuant to this Agreement, all amounts received thereon subsequent
to the date of purchase relating to periods after the date of purchase; or, in the case of the substitution for a Mortgage Loan
by a Mortgage Loan Seller as contemplated by Section 2.03(b), to pay the Mortgage Loan Seller with respect to the replaced
Mortgage Loan all amounts received thereon subsequent to the date of substitution, and with respect to the related Qualified Substitute
Mortgage Loan(s), all Periodic Payments due thereon during or prior to the month of substitution, in accordance with Section
2.03(b);

 

(xviii)       to
remit to the Certificate Administrator for deposit in the Interest Reserve Account the amounts required to be deposited in the
Interest Reserve Account pursuant to Section 3.21;

 

(xix)       to
reimburse the Operating Advisor for any Operating Advisor Expenses incurred by and reimbursable to it by the Trust pursuant to
Section 3.26(i);

 

(xx)       to
reimburse the Asset Representations Reviewer for any fees and expenses reimbursable to it by the Trust pursuant to this Agreement;

 

(xxi)       to
remit to the Companion Paying Agent for deposit into the Serviced Whole Loan Custodial Account the amounts required to be deposited
pursuant to Section 3.04(b) without duplication of amounts remitted to the Companion Paying Agent pursuant to clause (i)
above;

 

(xxii)       to
clear and terminate the Collection Account at the termination of this Agreement pursuant to Section 9.01; and

 

(xxiii)       to
pay for any expenditures to be borne by the Trust pursuant to the third paragraph of Section 3.03(c).

 

Consistent with the above,
with respect to the AMA Plaza Whole Loan, subject to Section 3.05(h) and the terms of the related Co-Lender Agreement, any
withdrawals permitted pursuant to this Section 3.05(a), shall be paid or reimbursed (a) first, from amounts on deposit
allocated to the Non-Trust Subordinate Companion Loan and then, from amounts on deposit allocated to the related Trust Subordinate
Companion Loan and then, from amounts on deposit allocated to the related Mortgage Loan and (b) then from general collections
in respect of all other Mortgage Loans.

 

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The Master Servicer shall
also be entitled to make withdrawals from time to time, from the Collection Account of amounts necessary for the payments or reimbursement
of amounts required to be paid to the applicable Non-Serviced Master Servicer, the applicable Non-Serviced Special Servicer, the
applicable Non-Serviced Trustee, the applicable Non-Serviced Paying Agent or any other applicable party to the applicable Non-Serviced
Pooling Agreement by the holder of a Non-Serviced Mortgage Loan pursuant to the applicable Non-Serviced Co-Lender Agreement and
the applicable Non-Serviced Pooling Agreement.

 

The Master Servicer shall
keep and maintain separate accounting records, on a loan-by-loan and property by property basis when appropriate, for the purpose
of justifying any withdrawal from the Collection Account.

 

The Master Servicer shall
pay to the applicable Special Servicer, the Trustee or the Certificate Administrator from the Collection Account amounts permitted
to be paid to it therefrom monthly upon receipt of a certificate of a Servicing Officer of such Special Servicer or a Responsible
Officer of the Trustee or the Certificate Administrator describing the item and amount to which such Special Servicer, the Trustee
or the Certificate Administrator is entitled. The Master Servicer may rely conclusively on any such certificate and shall have
no duty to re-calculate the amounts stated therein. The applicable Special Servicer shall keep and maintain separate accounting
for each Specially Serviced Mortgage Loan and REO Loan, on a loan-by-loan and property-by-property basis, for the purpose of justifying
any request for withdrawal from the Collection Account. Notwithstanding the
above, no written certificate is required for a payment of Special Servicing Fees and/or Workout Fees arising from collections
other than the initial collection on a Corrected Loan.

 

Notwithstanding anything
to the contrary in this Section 3.05 or elsewhere in this Agreement, no amounts payable or reimbursable to the Master Servicer,
the applicable Special Servicer the Trustee, the Certificate Administrator or the Operating Advisor out of general collections
that do not specifically relate to a Serviced Whole Loan may be reimbursable from amounts that would otherwise be payable to the
related Companion Loan, except as specifically described in this Agreement with respect to the Trust Subordinate Companion Loan
in the case of expenses not allocated to any particular Mortgage Loan.

 

With respect to any Serviced
Pari Passu Whole Loan, any Late Collections received by the Master Servicer from the Mortgagor that are allocable to any Serviced
Pari Passu Companion Loan or reimbursable to an Other Master Servicer or an Other Trustee shall be remitted by the Master Servicer
to such Other Master Servicer within one (1) Business Day of receipt of properly identified and available funds; 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 remit such late collections to the Other 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.

 

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(b)       The
Certificate Administrator may, from time to time, make withdrawals from the Lower-Tier REMIC Distribution Account for any of the
following purposes (the following not being an order of priority):

 

(i)       to
be deemed to make deposits of the Lower-Tier Distribution Amount pursuant to Section 4.01(c) and the amount of any Yield
Maintenance Charges distributable pursuant to Section 4.01(e) in the Upper-Tier REMIC Distribution Account, and to make
distributions to Certificateholders holding the Class R Certificates in respect of the Class LR Interest pursuant to Section
4.01(c) or Section 9.01, as applicable;

 

(ii)       to
pay to the Trustee and the Certificate Administrator or any of their directors, officers, employees and agents, as the case may
be, any amounts payable or reimbursable to any such Person with respect to the Mortgage Loans pursuant to Section 8.05(b);

 

(iii)       to
pay the Certificate Administrator and the Trustee, the Certificate Administrator/Trustee Fee, as applicable, as contemplated by
Section 8.05(a) hereof with respect to the Mortgage Loans;

 

(iv)       to
pay for the cost (without duplication) of the Opinions of Counsel sought by (A) the Trustee or the Certificate Administrator as
provided in clause (vi) of the definition of “Disqualified Organization,” (B) the Trustee, the Certificate Administrator,
the Master Servicer or any Special Servicer as contemplated by Section 3.18(e), (C) the Trustee or the Certificate Administrator
as contemplated by Section 5.08(c) or Section 8.02(ii) to the extent payable out of the Trust Fund, (D) the Trustee,
the Certificate Administrator, the Master Servicer or any Special Servicer as contemplated by Section 10.01(f) or Section
10.01(l) to the extent payable out of the Trust Fund, or (E) the Trustee, the Certificate Administrator, the Master Servicer
or any Special Servicer as contemplated by Section 13.01(a) or Section 13.01(c) in connection with any amendment
to this Agreement requested by the Trustee or the Certificate Administrator, which amendment is in furtherance of the rights and
interests of Certificateholders, in each case, to the extent not paid pursuant to Section 13.01(g);

 

(v)       to
pay any and all federal, state and local taxes imposed on the Lower-Tier REMIC or the Upper-Tier REMIC or on the assets or transactions
of any such REMIC, together with all incidental costs and expenses, to the extent none of the Trustee, the Certificate Administrator,
the REMIC Administrator, the Master Servicer or the Special Servicers is liable therefor pursuant to Section 10.01(g);

 

(vi)       to
pay the REMIC Administrator any amounts reimbursable to it pursuant to Section 10.01(c) with respect to the Lower-Tier REMIC
or the Upper-Tier REMIC;

 

(vii)       to
pay to the Master Servicer any amounts deposited by the Master Servicer in the Distribution Accounts not required to be deposited
therein; and

 

(viii)       to
clear and terminate the Lower-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

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(c)       The
Certificate Administrator shall, on any Distribution Date, make withdrawals from the Excess Interest Distribution Account to the
extent required to make the distributions of Excess Interest required by Section 4.01(j).

 

(d)       The
Certificate Administrator shall make, or be deemed to make, withdrawals from the Upper-Tier REMIC Distribution Account for any
of the following purposes:

 

(i)       to
make distributions to Certificateholders holding Regular Certificates (other than the Exchangeable Certificates) and Class R Certificates
(in respect of the Class UR Interest) and to the Class PEZ Distribution Account in respect of the Class PEZ Regular Interests on
each Distribution Date pursuant to Section 4.01 or Section 9.01, as applicable, subject to the third-to-last paragraph
of Section 3.04(b); and

 

(ii)       to
clear and terminate the Upper-Tier REMIC Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

(e)       The
Certificate Administrator shall make, or be deemed to make, withdrawals from the Class PEZ Distribution Account for any of the
following purposes:

 

(i)       to
make distributions to Certificateholders holding Exchangeable Certificates pursuant to Section 4.01 or Section 9.01,
as applicable, subject to the third-to-last paragraph of Section 3.04(b); and

 

(ii)       to
clear and terminate the Class PEZ Distribution Account at the termination of this Agreement pursuant to Section 9.01.

 

(f)       Notwithstanding
anything herein to the contrary, with respect to any Mortgage Loan, (i) if amounts on deposit in the Collection Account and the
Lower-Tier REMIC Distribution Account are not sufficient to pay the full amount of the Servicing Fee listed in Section 3.05(a)(ii),
the Operating Advisor Fee listed in Section 3.05(a)(ii) and the Certificate Administrator/Trustee Fee listed in Section
3.05(b)(ii) and (b)(iii), then the Certificate Administrator/Trustee Fee shall be paid in full prior to the payment
of any Servicing Fees payable under Section 3.05(a)(ii) and then, after payment of Servicing Fees, the Operating Advisor
Fees payable under Section 3.05(a)(ii) and in the event that amounts on deposit in the Collection Account and the Lower-Tier
REMIC Distribution Account are not sufficient to pay the full amount of such Certificate Administrator/Trustee Fee, the Certificate
Administrator shall be paid based on the amount of such fees and (ii) if amounts on deposit in the Collection Account are not sufficient
to reimburse the full amount of Advances and interest thereon listed in Sections 3.05(a)(iii), (a)(iv), (a)(v)
and (a)(vi), then reimbursements shall be paid first to the Certificate Administrator and to the Trustee, pro
rata, second to the applicable Special Servicer, third to the Master Servicer and then to the Operating
Advisor.

 

(g)       If
any Loss of Value Payments are deposited into the Loss of Value Reserve Fund with respect to any Mortgage Loan, the Trust Subordinate
Companion Loan or any related Serviced REO Property, then the applicable Special Servicer shall promptly (provided that,
(1) with respect to clause (iv) below, such Special Servicer shall have provided notice to the Master Servicer of the occurrence
of such liquidation event and (2) with respect to clause (v)

 

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below, the Certificate Administrator shall have provided the Master
Servicer and such Special Servicer with five Business Days’ prior notice of such final Distribution Date), transfer such
Loss of Value Payments (up to the remaining portion thereof) from the Loss of Value Reserve Fund to the Master Servicer for deposit
into the Collection Account for the following purposes:

 

(i)       to
reimburse the Master Servicer or the Trustee, in accordance with Section 3.05(a) of this Agreement, for any Nonrecoverable
Advance made by such party with respect to such Mortgage Loan, Trust Subordinate Companion Loan or any related Serviced REO Property
(together with any interest on such Advances);

 

(ii)       to
pay, in accordance with Section 3.05(a) of this Agreement, or to reimburse the Trust for the prior payment of, any expense
or Liquidation Fee relating to such Mortgage Loan, Trust Subordinate Companion Loan or any related Serviced REO Property that constitutes
or, if not paid out of such Loss of Value Payments, would constitute an additional expense of the Trust;

 

(iii)       to
offset any portion of Realized Losses that are attributable to such Mortgage Loan, Trust Subordinate Companion Loan or related
REO Property, as the case may be (as calculated without regard to the application of such Loss of Value Payments), incurred with
respect to such Mortgage Loan, Trust Subordinate Companion Loan or any related successor REO Loan;

 

(iv)       following
the occurrence of a liquidation event with respect to such Mortgage Loan, Trust Subordinate Companion Loan or any related Serviced
REO Property and any related transfers from the Loss of Value Reserve Fund with respect to the items contemplated by the immediately
preceding clauses (i)-(iii) as to such Mortgage Loan, Trust Subordinate Companion Loan or Serviced REO Loan, to cover the
items contemplated by the immediately preceding clauses (i)-(iii) in respect of any other Mortgage Loan, Trust Subordinate
Companion Loan or Serviced REO Loan; and

 

(v)       On
the final Distribution Date after all distributions have been made as set forth in clause (i) through (iv) above, to the
Mortgage Loan Seller, its pro rata share, based on the amount that it contributed, net of any amount contributed by the
Mortgage Loan Seller that was used pursuant to clauses (i)-(iii) to offset any portion of Realized Losses that are attributable
to such Mortgage Loan, Trust Subordinate Companion Loan or related REO Property, as the case may be, additional trust fund expenses
or any Nonrecoverable Advances incurred with respect to the Mortgage Loan, Trust Subordinate Companion Loan related to such contribution.

 

(h)       Any
Loss of Value Payments transferred to the Collection Account pursuant to clauses (g)(i)-(g)(iii) of the prior paragraph
shall be treated as Liquidation Proceeds received by the Trust in respect of the related Mortgage Loan or Trust Subordinate Companion
Loan, as applicable, or any successor REO Loan with respect thereto for which such Loss of Value Payments were received; and any
Loss of Value Payments transferred to the Collection Account pursuant to clause (g)(iv) of the prior paragraph shall be
treated as Liquidation Proceeds received by the Trust in respect of the related Mortgage Loan or Trust Subordinate Companion Loan,
as applicable, or REO Loan for which such Loss of Value Payments are being transferred

 

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to the Collection Account to cover an item
contemplated by clauses (g)(i)-(g)(iv) of the prior paragraph.

 

(i)       The
Companion Paying Agent may, from time to time, make withdrawals from the Serviced Whole Loan Custodial Account to make distributions
pursuant to Section 4.01(k).

 

(j)       The
Certificate Administrator, on behalf of the Trustee, may, from time to time, make withdrawals from a Trust Subordinate Companion
Loan REMIC Distribution Account for any of the following purposes:

 

(i)       to
be deemed to make deposits of the related Trust Subordinate Companion Loan REMIC Distribution Amount pursuant to Section 4.01(b)
and the amount of any Yield Maintenance Charges distributable pursuant to Section 4.01(e) in the Upper-Tier REMIC Distribution
Account for distribution to Holders of the Loan-Specific Certificates, and to make distributions to Holders of the Class R Certificates
in respect of the Class AMA-R Interest or Class BS-R Interest, as applicable, pursuant to Section 4.01(b) or Section
9.01, as applicable;

 

(ii)       to
pay to the Trustee and the Certificate Administrator or any of their directors, officers, employees and agents, as the case may
be, any amounts payable or reimbursable to any such Person, with respect to the Trust Subordinate Companion Loan pursuant to Section
8.05(b);

 

(iii)       to
pay for the cost (without duplication) of the Opinions of Counsel sought by the Trustee or the Certificate Administrator (A) as
provided in clause (vi) of the definition of “Disqualified Organization,” (B) as contemplated by Sections
3.18(e), 5.08(c), 8.02(ii), 10.01(f) and 10.01(l) to the extent payable out of the Trust Fund,
or (C) as contemplated by Section 13.01(a) or Section 13.01(c) in connection with any amendment to this Agreement
requested by the Trustee or the Certificate Administrator, which amendment is in furtherance of the rights and interests of Holders
of the Loan-Specific Certificates, in each case, to the extent not paid pursuant to Section 13.01(g);

 

(iv)       to
pay any and all federal, state and local taxes imposed on the related Trust Subordinate Companion Loan REMIC or on the assets or
transactions of such Trust REMIC, together with all incidental costs and expenses, to the extent none of the Trustee, the Certificate
Administrator, the REMIC Administrator, the Master Servicer or the Special Servicer is liable therefor pursuant to Section 10.01(g)
with respect to such Trust Subordinate Companion Loan REMIC;

 

(v)       to
pay the REMIC Administrator any amounts reimbursable to it pursuant to Section 10.01(c) with respect to such Trust Subordinate
Companion Loan REMIC;

 

(vi)       to
pay to the Master Servicer any amounts deposited by the Master Servicer in such Trust Subordinate Companion Loan REMIC Distribution
Account not required to be deposited therein;

 

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(vii)       to
clear and terminate such Trust Subordinate Companion Loan REMIC Distribution Account at the termination of this Agreement pursuant
to Section 9.01; and

 

(viii)      consistent
with the above, with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan, subject to Section 3.05(a)(i),
any withdrawals permitted pursuant to this Section 3.05(j), shall be paid or reimbursed (a) first, from amounts on
deposit allocated to the related Trust Subordinate Companion Loan and then, from amounts on deposit allocated to the related
Mortgage Loan and (b) then from general collections in respect of all other Mortgage Loans.

 

Section
3.06     Investment of Funds in the Collection Account and the REO Accounts. (a) The Master
Servicer may direct any depository institution maintaining the Collection Account, the Serviced Whole Loan Custodial Account,
or any Servicing Account (for purposes of this Section 3.06, an “Investment Account”), each Special
Servicer may direct any depository institution maintaining the applicable REO Account or Loss of Value Reserve Fund (also for
purposes of this Section 3.06, an “Investment Account”) to invest or if it is such depository
institution, may itself invest, the funds held therein, only in one or more Permitted Investments bearing interest or sold at
a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the next
succeeding date on which funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other
than the depository institution maintaining such account is the obligor thereon and (ii) no later than the date on which
funds are required to be withdrawn from such account pursuant to this Agreement, if the depository institution
maintaining such account is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on
demand. Any funds held in an Investment Account shall be held in the name of the Master Servicer or the applicable Special
Servicer, as applicable, on behalf of the Trustee (in its capacity as such) for the benefit of the Certificateholders. The
Master Servicer (in the case of the Collection Account, the Serviced Whole Loan Custodial Account or any Servicing Account
maintained by or for the Master Servicer), each Special Servicer (in the case of the applicable REO Account, Loss of Value
Reserve Fund or any Servicing Account maintained by or for such Special Servicer) on behalf of the Trustee, shall maintain
continuous physical possession of any Permitted Investment of amounts in the Collection Account, the Serviced Whole Loan
Custodial Account, the Servicing Accounts, Loss of Value Reserve Fund or such REO Account, as applicable, that is either (i)
a “certificated security,” as such term is defined in the UCC (such that the Trustee shall have control pursuant
to Section 8-106 of the UCC) or (ii) other property in which a secured party may perfect its security interest by physical
possession under the UCC or any other applicable law. In the case of any Permitted Investment held in the form of a
“security entitlement” (within the meaning of Section 8-102(a)(17) of the UCC), the Master Servicer or each
Special Servicer, as applicable, shall take or cause to be taken such action as the Trustee deems reasonably necessary to
cause the Trustee to have control over such security entitlement. In the event amounts on deposit in an Investment Account
are at any time invested in a Permitted Investment payable on demand, the Master Servicer (in the case of the
Collection Account, the Serviced Whole Loan Custodial Account or any Servicing Account maintained by or for the Master
Servicer) or the applicable Special Servicer (in the case of the applicable REO Account, Loss of Value Reserve Fund or any
Servicing Account maintained by or for each Special Servicer) shall:

 

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(i)       consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (a) all amounts then payable thereunder and (b) the amount required
to be withdrawn on such date; and

 

(ii)      demand
payment of all amounts due thereunder promptly upon determination by the Master Servicer, the applicable Special Servicer, the
Certificate Administrator or the Trustee, as the case may be, that such Permitted Investment would not constitute a Permitted Investment
in respect of funds thereafter on deposit in the Investment Account.

 

(b)      Interest
and investment income realized on funds deposited in the Collection Account, the Serviced Whole Loan Custodial Account or any Servicing
Account maintained by or for the Master Servicer to the extent of the Net Investment Earnings, if any, with respect to such account
for the period from and including the prior Distribution Date to and including the Master Servicer Remittance Date related to the
current Distribution Date, shall be for the sole and exclusive benefit of the Master Servicer to the extent (with respect to Servicing
Accounts) not required to be paid to the related Mortgagor and shall be subject to its withdrawal, or withdrawal at its direction,
in accordance with Section 3.03 or Section 3.05(a), as the case may be. Interest and investment income realized on
funds deposited in the applicable REO Account, Loss of Value Reserve Fund or any Servicing Account maintained by or for the applicable
Special Servicer, to the extent of the Net Investment Earnings, if any, with respect to such account for each period from and including
any Distribution Date to and including the immediately succeeding Master Servicer Remittance Date, shall be for the sole and exclusive
benefit of the applicable Special Servicer and shall be subject to its withdrawal in accordance with Section 3.14(c). In
the event that any loss shall be incurred in respect of any Permitted Investment (as to which the Master Servicer or applicable
Special Servicer, as applicable, would have been entitled to any Net Investment Earnings hereunder) directed to be made by the
Master Servicer or the applicable Special Servicer, as applicable, and on deposit in any of the Collection Account, the Serviced
Whole Loan Custodial Account, the Servicing Account, Loss of Value Reserve Fund or the applicable REO Account, the Master Servicer
(in the case of the Collection Account, the Serviced Whole Loan Custodial Account or any Servicing Account maintained by or for
the Master Servicer), the applicable Special Servicer (in the case of the applicable REO Account, Loss of Value Reserve Fund or
any Servicing Account maintained by or for such Special Servicer) shall deposit therein, no later than the Master Servicer Remittance
Date, without right of reimbursement, the amount of Net Investment Loss, if any, with respect to such account for the period from
and including the prior Distribution Date to and including the Master Servicer Remittance Date related to the current Distribution
Date; provided that neither the Master Servicer nor the applicable Special Servicer shall be required to deposit any loss
on an investment of funds in an Investment Account if such loss is incurred solely as a result of the insolvency of the federal
or state chartered depository institution or trust company that holds such Investment Account, so long as such depository institution
or trust company satisfied the qualifications set forth in the definition of Eligible Account at the time such investment was made
(and, with respect to the Master Servicer, such federal or state chartered depository institution or trust company is not an Affiliate
of the Master Servicer unless such depository institution or trust company satisfied the qualification set forth in the definition
of Eligible

 

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Account both (x) at the time the investment was made and (y) thirty (30) days prior to such insolvency).

 

(c)       Except
as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in any other performance required under any Permitted Investment, the Master Servicer may and, upon the
request of Holders of Certificates evidencing at least 25% of the Voting Rights allocated to any Class shall, take such action
as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.

 

Section
3.07     Maintenance of Insurance Policies; Errors and Omissions and Fidelity Coverage. (a)
The Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced
Companion Loan) shall use its efforts consistent with the Servicing Standard to cause the Mortgagor to maintain (other than
with respect to a Non-Serviced Mortgage Loan), and each Special Servicer (with respect to REO Properties other than any
Non-Serviced Mortgaged Properties) shall maintain, to the extent required by the terms of the related Mortgage Loan
documents, all insurance coverage as is required under the related Mortgage Loan documents except to the extent that the
failure of the related Mortgagor to do so is an Acceptable Insurance Default (and except as provided in the next sentence
with respect to the Master Servicer or the applicable Special Servicer, as applicable). If the Mortgagor does not so maintain
such insurance coverage, subject to its recoverability determination with respect to any required Property Protection
Advance, the Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related
Serviced Companion Loan) or each Special Servicer (with respect to REO Properties other than a Non-Serviced
Mortgaged Property) shall maintain all insurance coverage as is required under the related Mortgage, but only in the event
the Trustee has an insurable interest therein and such insurance is available to the Master Servicer or such Special Servicer
and, if available, can be obtained at commercially reasonable rates, as determined ((i) prior to the occurrence and
continuance of any Control Termination Event and (ii) other than with respect to any Excluded Loan, any determination that
such insurance coverage is not available or not available at commercially reasonable rates to be made with the consent of the
Directing Holder) by the Master Servicer (with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and
any related Serviced Companion Loan) or each Special Servicer (with respect to REO Properties other than any Non-Serviced
Mortgaged Property) except to the extent that the failure of the related Mortgagor to do so is an Acceptable Insurance
Default as determined by such Special Servicer; provided, however, that if any Mortgage permits the holder
thereof to dictate to the Mortgagor the insurance coverage to be maintained on such Mortgaged Property, the Master Servicer
or, with respect to REO Property, such Special Servicer, as applicable, shall impose or maintain, as applicable, such
insurance requirements as are consistent with the Servicing Standard taking into account the insurance in place at the
closing of the Mortgage Loan or Trust Subordinate Companion Loan, provided that, with respect to the immediately
preceding proviso, the Master Servicer will be obligated to use efforts consistent with the Servicing Standard to cause the
Mortgagor to maintain (or to itself maintain) insurance against property damage resulting from terrorist or similar acts
unless the Mortgagor’s failure is an Acceptable Insurance Default (as determined by the applicable Special
Servicer with ((i) unless a Control Termination Event has occurred and is continuing and (ii) other than with respect to any
Excluded Loan, the consent of the Directing Holder) and only in the event the

 

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Trustee has an insurable interest therein and
such insurance is available to the Master Servicer and, if available, can be obtained at commercially reasonable rates. The
Master Servicer and each Special Servicer shall be entitled to rely on insurance consultants (at the applicable
servicer’s expense) in determining whether any insurance is available at commercially reasonable rates. Subject to Section
3.15(a) and the costs of such insurance being reimbursed or paid to the applicable Special Servicer as provided in the
third-to-last sentence of this paragraph, such Special Servicer shall maintain for each REO Property (other than any
Non-Serviced Mortgaged Property) no less insurance coverage than was previously required of the Mortgagor under the related
Mortgage Loan documents unless such Special Servicer determines ((i) unless a Control Termination Event has occurred and is
continuing and (ii) other than with respect to any Excluded Loan, with the consent of the Directing Holder) that such
insurance is not available at commercially reasonable rates or that the Trustee does not have an insurable interest, in which
case the Master Servicer shall be entitled to conclusively rely on such Special Servicer’s determination. All Insurance
Policies maintained by the Master Servicer or the applicable Special Servicer shall (i) contain a “standard”
mortgagee clause, with loss payable to the Master Servicer on behalf of the Trustee (in the case of insurance maintained in
respect of Mortgage Loans (other than any Non-Serviced Mortgage Loan), including any related Serviced Companion Loan, other
than REO Properties) or to the applicable Special Servicer on behalf of the Trustee (in the case of insurance maintained in
respect of REO Properties), (ii) be in the name of the Trustee (in the case of insurance maintained in respect of REO
Properties), (iii) include coverage in an amount not less than the lesser of (x) the full replacement cost of the
improvements securing the REO Property, and (y) the outstanding principal balance owing on the related REO Loan, and in any
event, the amount necessary to avoid the operation of any co-insurance provisions, (iv) include a replacement cost
endorsement providing no deduction for depreciation (unless such endorsement is not permitted under the related Mortgage Loan
documents), (v) be noncancelable without thirty (30) days prior written notice to the insured party (except in the case of
nonpayment, in which case such policy shall not be cancelled without ten (10) days prior notice) and (vi) subject to the
first proviso in the second sentence of this Section 3.07(a), be issued by a Qualified Insurer authorized under
applicable law to issue such Insurance Policies. Any amounts collected by the Master Servicer or a Special Servicer under any
such Insurance Policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or
REO Property or amounts to be released to the related Mortgagor, in each case in accordance with the Servicing Standard and
the provisions of the related Mortgage Loan documents) shall be deposited in the Collection Account, subject to withdrawal
pursuant to Section 3.05(a). Any costs incurred by the Master Servicer in maintaining any such Insurance Policies in
respect of Mortgage Loans (including any related Serviced Companion Loan) (other than REO Properties and other than any
Non-Serviced Mortgage Loan) (i) if the Mortgagor defaults on its obligation to do so, shall be advanced by the Master
Servicer as a Property Protection Advance (so long as such Advance would not be a Nonrecoverable Advance and if such Advance
would be a Nonrecoverable Advance then such cost shall instead be paid out of the Collection Account) and will be charged to
the related Mortgagor and (ii) shall not, for purposes of calculating monthly distributions to Certificateholders, be
added to the unpaid principal balance of the related Mortgage Loan and Serviced Companion Loan (if any), notwithstanding that
the terms of such Mortgage Loan or Serviced Companion Loan so permit. Any cost incurred by a the applicable Special Servicer
in maintaining any such Insurance Policies with respect to REO Properties shall be an expense of the Trust payable out of the

 

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related REO Account pursuant to Section 3.14(c) or, if the amount on deposit therein is insufficient therefor,
advanced by the Master Servicer as a Property Protection Advance (so long as such Advance would not be a Nonrecoverable
Advance and if such Advance would be a Nonrecoverable Advance then such cost shall instead be paid out of the Collection
Account). The foregoing provisions of this Section 3.07 shall apply to any Serviced Whole Loan as if it were a single
“Mortgage Loan”. Notwithstanding any provision to the contrary, the Master Servicer will not be required to
maintain, and will not be in default for failing to obtain, any earthquake or environmental insurance on any Mortgaged
Property unless such insurance was required at the time of origination of the related Mortgage Loan and is currently
available at commercially reasonable rates.

 

Notwithstanding the foregoing,
with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that either
(x) require the Mortgagor to maintain “all risk” property insurance (and do not expressly permit an exclusion for terrorism)
or (y) contain provisions generally requiring the applicable Mortgagor to maintain insurance in types and against such risks as
the holder of such Mortgage Loan (including any related Serviced Companion Loan) reasonably requires from time to time in order
to protect its interests, the Master Servicer will be required to, consistent with the Servicing Standard, (A) monitor in accordance
with the Servicing Standard whether the insurance policies for the related Mortgaged Property contain Additional Exclusions, (B)
request the Mortgagor to either purchase insurance against the risks specified in the Additional Exclusions or provide an explanation
as to its reasons for failing to purchase such insurance and (C) notify the applicable Special Servicer if it has knowledge that
any insurance policy contains Additional Exclusions or if it has knowledge (such knowledge to be based upon the Master Servicer’s
compliance with the immediately preceding clauses (A) and (B) above) that any Mortgagor fails to purchase the insurance
requested to be purchased by the Master Servicer pursuant to clause (B) above. If such Special Servicer determines in accordance
with the Servicing Standard that such failure is not an Acceptable Insurance Default, the applicable Special Servicer shall notify
the Master Servicer and the Master Servicer shall use efforts consistent with the Servicing Standard to cause such insurance to
be maintained. Each Special Servicer (at the expense of the Trust) shall be entitled to rely on insurance consultants in making
such determinations. The Master Servicer shall be entitled to rely on insurance consultants (at the expense of such Master Servicer)
in determining whether Additional Exclusions exist. Furthermore, each Special Servicer shall promptly deliver such conclusions
in writing to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website for those Mortgage Loans
that (i) have one of the ten (10) highest outstanding Stated Principal Balances of all of the Mortgage Loans then included in the
Trust or (ii) comprise more than 5% of the outstanding Stated Principal Balance of the Mortgage Loans then included in the Trust.
During the period that the applicable Special Servicer is evaluating the availability of such insurance or waiting for a response
from the Directing Holder, neither the Master Servicer nor the applicable Special Servicer will be liable for any loss related
to its failure to require the Mortgagor to maintain such insurance and will not be in default of its obligations as a result of
such failure unless the Master Servicer or the applicable Special Servicer is required to take any immediate action pursuant to
the Servicing Standard or other servicing requirements of this Agreement and the Master Servicer will not itself maintain such
insurance or cause such insurance to be maintained.

 

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(b)       (i)
If the Master Servicer or any Special Servicer shall obtain and maintain a blanket Insurance Policy with a Qualified Insurer insuring
against fire and hazard losses on all of the Mortgage Loans (including any related Serviced Companion Loan, but excluding any Non-Serviced
Mortgage Loan) or REO Properties (other than with respect to a Non-Serviced Mortgaged Property), as the case may be, required to
be serviced and administered hereunder, then, to the extent such Insurance Policy provides protection equivalent to the individual
policies otherwise required, the Master Servicer or such Special Servicer shall conclusively be deemed to have satisfied its obligation
to cause fire and hazard insurance to be maintained on the related Mortgaged Properties or REO Properties. Such Insurance Policy
may contain a deductible clause, in which case the Master Servicer or the applicable Special Servicer shall, if there shall not
have been maintained on the related Mortgaged Property or REO Property a fire and hazard Insurance Policy complying with the requirements
of Section 3.07(a), and there shall have been one or more losses which would have been covered by such Insurance Policy,
promptly deposit into the Collection Account from its own funds the amount of such loss or losses that would have been covered
under the individual policy but are not covered under the blanket Insurance Policy because of such deductible clause to the extent
that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan (including any related Serviced
Companion Loan), or in the absence of such deductible limitation, the deductible limitation which is consistent with the Servicing
Standard. In connection with its activities as administrator and Master Servicer of the Mortgage Loans or any Serviced Companion
Loans, the Master Servicer agrees to prepare and present, on behalf of itself, the Trustee and Certificateholders, claims under
any such blanket Insurance Policy in a timely fashion in accordance with the terms of such policy. Each Special Servicer, to the
extent consistent with the Servicing Standard, may maintain, earthquake insurance on REO Properties (other than with respect to
a Non-Serviced Mortgaged Property), provided coverage is available at commercially reasonable rates, the cost of which shall
be a Property Protection Advance.

 

(ii)       If
the Master Servicer or any Special Servicer shall cause any Mortgaged Property or REO Property to be covered by a master single
interest or force-placed insurance policy with a Qualified Insurer naming the Master Servicer or such Special Servicer on behalf
of the Trustee as the loss payee, then to the extent such Insurance Policy provides protection equivalent to the individual policies
otherwise required, the Master Servicer or such Special Servicer shall conclusively be deemed to have satisfied its obligation
to cause such insurance to be maintained on the related Mortgaged Properties and REO Properties. In the event the Master Servicer
or any Special Servicer shall cause any Mortgaged Property or REO Property to be covered by such master single interest or force-placed
insurance policy, the incremental costs of such insurance applicable to such Mortgaged Property or REO Property (i.e., other than
any minimum or standby premium payable for such policy whether or not any Mortgaged Property or REO Property is covered thereby)
shall be paid by the Master Servicer as a Property Protection Advance. Such master single interest or force-placed policy may contain
a deductible clause, in which case the Master Servicer or such Special Servicer shall, in the event that there shall not have been
maintained on the related Mortgaged Property or REO Property a policy otherwise complying with the provisions of Section 3.07(a),
and there shall have been one or more losses which would have been covered by such policy had it been maintained, deposit into
the Collection Account from its own funds the amount not otherwise payable under the master single or force-placed interest policy

 

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because of such deductible clause, to the extent that any such deductible exceeds the deductible limitation that pertained to the
related Mortgage Loan, including any related Serviced Companion Loan, or, in the absence of any such deductible limitation, the
deductible limitation which is consistent with the Servicing Standard.

 

(c)       Each
of the Master Servicer and the Special Servicers shall obtain and maintain at its own expense and keep in full force and effect
throughout the term of this Agreement a blanket fidelity bond and an errors and omissions Insurance Policy with a Qualified Insurer
covering the Master Servicer’s and the applicable Special Servicer’s, as applicable, officers and employees acting
on behalf of the Master Servicer and the applicable Special Servicer in connection with its activities under this Agreement. Such
amount of coverage shall be in such form and amount as are consistent with the Servicing Standard. Coverage of the Master Servicer
or the applicable Special Servicer under a policy or bond obtained by an Affiliate of the Master Servicer or such Special Servicer
and providing the coverage required by this Section 3.07(c) shall satisfy the requirements of this Section 3.07(c).
Each Special Servicer and the Master Servicer will promptly report in writing to the Trustee any material changes that may occur
in their respective fidelity bonds, if any, and/or their respective errors and omissions Insurance Policies, as the case may be,
and will furnish to the Trustee copies of all binders and policies or certificates evidencing that such bonds, if any, and insurance
policies are in full force and effect. With respect to Wells Fargo Bank, National Association and AEGON USA Realty Advisors, LLC
in their capacities as AMA Plaza Special Servicer and 225 Bush Street Special Servicer, respectively, coverage in the amount of
$10,000,000 that otherwise meets the requirements described above will be acceptable.

 

(d)       At
the time the Master Servicer determines in accordance with the Servicing Standard that any Mortgaged Property (other than a Non-Serviced
Mortgaged Property) is in a federally designated special flood hazard area (and such flood insurance has been made available),
the Master Servicer will use efforts consistent with the Servicing Standard to cause the related Mortgagor (in accordance with
applicable law and the terms of the Mortgage Loan and related Serviced Companion Loan documents) to maintain, and, if the related
Mortgagor shall default in its obligation to so maintain, shall itself maintain to the extent available at commercially reasonable
rates (as determined by the Master Servicer in accordance with the Servicing Standard and to the extent the Trustee, as mortgagee,
has an insurable interest therein), flood insurance in respect thereof, but only to the extent the related Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan permits the mortgagee to require such coverage and the maintenance
of such coverage is consistent with the Servicing Standard. Such flood insurance shall be in an amount equal to the lesser of (i)
the unpaid principal balance of the related Mortgage Loan (and any related Serviced Companion Loan, if applicable), and (ii) the
maximum amount of insurance which is available under the National Flood Insurance Act of 1968, as amended, plus such additional
excess flood coverage with respect to the Mortgaged Property, if any, in an amount consistent with the Servicing Standard. If the
cost of any insurance described above is not borne by the Mortgagor, the Master Servicer shall promptly make a Property Protection
Advance for such costs.

 

(e)       During
all such times as any REO Property (other than with respect to a Non-Serviced Mortgaged Property) shall be located in a federally
designated special flood hazard area, the applicable Special Servicer will cause to be maintained, to the extent available at

 

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commercially
reasonable rates (as determined by such Special Servicer (with respect to any Mortgage Loan other than an Excluded Loan or prior
to the occurrence and continuance of a Control Termination Event, with the consent of the Directing Holder) in accordance with
the Servicing Standard), a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration
in an amount representing coverage not less than the maximum amount of insurance which is available under the National Flood Insurance
Act of 1968, as amended. The cost of any such flood insurance with respect to an REO Property shall be an expense of the Trust
payable out of the related REO Account pursuant to Section 3.14(c) or, if the amount on deposit therein is insufficient
therefor, paid by the Master Servicer as a Property Protection Advance.

 

(f)       Notwithstanding
the foregoing, so long as the long-term debt or the deposit obligations or deposit accounts or claims-paying ability of the Master
Servicer (or its immediate or remote parent) or the applicable Special Servicer (or its immediate or remote parent), as applicable,
is rated no lower than “A-” or its equivalent by S&P, “A-” as rated by Fitch, “A3” as rated
by Moody’s, the Master Servicer (or its public parent) or the applicable Special Servicer (or its public parent), as applicable,
shall be allowed to provide self-insurance with respect to any of its obligations under this Section 3.07.

 

Section 3.08     Enforcement
of Due-on-Sale Clauses; Assumption Agreements.

 

(a) As to each Mortgage Loan (other than a Non-Serviced Mortgage
Loan) and any related Serviced Companion Loan that contains a provision in the nature of a “due-on-sale” clause, which
by its terms:

 

(i)         provides
that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and payable upon
the sale or other transfer of an interest in the related Mortgaged Property or equity interests in the Mortgagor or principals
of the Mortgagor; or

 

(ii)        provides
that such Mortgage Loan and any related Companion Loan may not be assumed without the consent of the mortgagee in connection with
any such sale or other transfer,

 

then, for so long as
such Mortgage Loan or related Serviced Companion Loan is being serviced under this Agreement, the applicable Special Servicer shall
determine (with respect to any Specially Serviced Loan or, to the extent such action is a Special Servicer Major Decision or Special
Servicer Non-Major Decision, any Non-Specially Serviced Mortgage Loan (other than any Non-Serviced Mortgage Loan) and any related
Serviced Companion Loan) in a manner consistent with the Servicing Standard (or, in the case of any Non-Specially Serviced Mortgage
Loan, the extent such action is not a Special Servicer Major Decision or Special Servicer Non-Major Decision, the Master Servicer
shall determine in a manner consistent with the Servicing Standard, on behalf of the Trustee as the mortgagee of record, whether
to (a) exercise any right it may have with respect to such Mortgage Loan or Serviced Companion Loan (x) to accelerate the payments
thereon or (y) to grant or withhold its consent to any sale or transfer, consistent with the Servicing Standard or (b) waive any
right to exercise such rights, provided that, (i) with respect to such consent or waiver of rights that is a Major Decision,
prior to itself taking such an action, the Master Servicer or the applicable Special Servicer, as

 

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applicable, shall obtain prior
to the occurrence and continuance of a Control Termination Event, the prior written consent (or deemed consent) of the Directing
Holder (or (A) after the occurrence and during the continuance of a Control Termination Event, but prior to a Consultation Termination
Event and (B) other than with respect to any Excluded Loan, upon consultation with the Directing Holder pursuant to Section
6.08(a) hereof, which consent shall be deemed given ten (10) Business Days after receipt (unless earlier objected to by the
Directing Holder) of the Master Servicer’s or the applicable Special Servicer’s written analysis and recommendation
with respect to such waiver together with such other information reasonably required by the Directing Holder, and (ii) with respect
to any Mortgage Loan that (A) represents at least 5.0% of the aggregate Stated Principal Balance of the Mortgage Loans then outstanding
and has a Stated Principal Balance of at least $10,000,000, (B) represents one of the 10 largest Mortgage Loans (considering any
other Mortgage Loans with which it is cross-collateralized or cross-defaulted as a single Mortgage Loan) based on Stated Principal
Balance and has a Stated Principal Balance of at least $10,000,000, (C) has a Stated Principal Balance that is more than $35,000,000,
(D) is the AMA Plaza Whole Loan, (E) is the 225 Bush Street Whole Loan or (F) is a Mortgage Loan as to which the related Serviced
Companion Loan represents one of the 10 largest mortgage loans in the related other securitization (provided that the master servicer
or special servicer, as applicable, will be entitled to reasonably rely upon the written notification provided by the master servicer,
special servicer, trustee or certificate administrator of such other securitization as to whether such Serviced Companion Loan
is one of the 10 largest mortgage loans in such other securitization, or if no timely response is received, permitted to rely upon
the most recent CREFC® Reports from such other securitization), the Master Servicer or such Special Servicer, as
the case may be, prior to consenting to any action, shall obtain, a Rating Agency Confirmation from each Rating Agency and a confirmation
of any applicable rating agency that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any class of Serviced Companion Loan Securities (if any). Notwithstanding anything herein to the contrary, with respect
to any Excluded Loan (regardless of whether a Control Termination Event has occurred and is continuing), the Master Servicer or
the applicable Special Servicer, as the case may be, shall consult with the Operating Advisor, on a non-binding basis, in connection
with the related transactions involving proposed Major Decisions and consider alternative actions recommended by the Operating
Advisor, in respect thereof, in accordance with the procedures set forth in Section 6.08 for consulting with the Operating
Advisor.

 

In connection with any
request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion Loan Securities, the
related rating agencies) pursuant to this Section 3.08(a), the Master Servicer or the applicable Special Servicer that is
processing the related action, as applicable, shall (if not already provided in accordance with Section 3.25 of this Agreement)
deliver a Review Package to the 17g-5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related
17g-5 information provider) in accordance with Section 3.25 of this Agreement.

 

If any Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or related Serviced Companion Loan provides that such Mortgage Loan or related Serviced
Companion Loan may be assumed or transferred without the consent of the mortgagee; provided that certain conditions are
satisfied, then for so long as such Mortgage Loan or related Serviced Companion Loan is being serviced under this Agreement, the
applicable Special Servicer, with respect to all

 

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Specially Serviced Mortgage Loans (other than a Non-Serviced Mortgage Loan), related
Serviced Companion Loans, on behalf of the Trustee as the mortgagee of record, shall determine in accordance with the Servicing
Standard whether such conditions have been satisfied, or, with respect to any Mortgage Loan which does not allow the mortgagee
discretion in approving a transfer or assumption or does not allow for discretion in determining whether conditions to a transfer
or assumption have been satisfied, the Master Servicer, on behalf of the Trustee as mortgagee of record, shall make such determination
with respect to whether such conditions have been satisfied.

 

Upon receiving a request
for any matter described in this Section 3.08(a) that constitutes a Special Servicer Major Decision, the Master Servicer
shall forward such request to the applicable Special Servicer and, unless the Master Servicer and the applicable Special Servicer
mutually agree that the Master Servicer will process such request in accordance with the terms and conditions reasonably agreed
to by the Master Servicer and Special Servicer, including the applicable Special Servicer’s consent, the applicable Special
Servicer will be required to process such request and the Master Servicer will have no further obligation with respect to such
request or the related Special Servicer Major Decision. If such action with respect to a Non-Specially Serviced Mortgage Loan is
not a Special Servicer Non-Major Decision or a Major Decision, the Master Servicer shall process the related request and shall
have no obligation to obtain the consent of or consult with the Special Servicer, Directing Certificateholder or Operating Advisor.

 

(b)       As
to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and any related Serviced Companion Loan that contains a provision
in the nature of a “due-on-encumbrance” clause that by its terms:

 

(i)         provides
that such Mortgage Loan and any related Companion Loan shall (or may at the mortgagee’s option) become due and payable upon
the creation of any additional lien or other encumbrance on the related Mortgaged Property or equity interests in the Mortgagor
or principals of the Mortgagor; or

 

(ii)        requires
the consent of the mortgagee to the creation of any such additional lien or other encumbrance on the related Mortgaged Property
or equity interests in the Mortgagor or principals of the Mortgagor;

 

then, for so long as
such Specially Serviced Loan or, to the extent such action is a Special Servicer Major Decision or Special Servicer Non-Major Decision,
any Non-Specially Serviced Mortgage Loan (and related Companion Loan, if applicable) is serviced under this Agreement, the applicable
Special Servicer, on behalf of the Trustee as the mortgagee of record, shall determine, in a manner consistent with the Servicing
Standard (or, in the case of any Non-Specially Serviced Mortgage Loan, the extent such action is not a Special Servicer Major Decision
or Special Servicer Non-Major Decision, the Master Servicer shall determine, in a manner consistent with the Servicing Standard,
whether to (a) exercise any right it may have with respect to such Mortgage Loan or Serviced Companion Loan (x) to accelerate the
payments thereon or (y) to withhold its consent to the creation of any additional lien or other encumbrance, consistent with the
Servicing Standard or (b) grant or waive its right to exercise such rights, provided that (i) with respect to such consent
or waiver of rights that is a Major Decision, prior

 

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to the occurrence and continuance of a Control Termination Event and other
than with respect to an Excluded Loan, the Master Servicer or the applicable Special Servicer, as applicable, has obtained the
prior written consent (or deemed consent) of the Directing Holder (or after the occurrence and continuance of a Control Termination
Event, but prior to a Consultation Termination Event and other than with respect to an Excluded Loan, upon consultation with the
Directing Holder), which consent shall be deemed given ten (10) Business Days after receipt by the Directing Holder of the Master
Servicer’s or the applicable Special Servicer’s written analysis and recommendation with respect to such waiver or
exercise of such rights together with such other information reasonably required by the Directing Holder and (ii) with respect
to any Mortgage Loan that (A) represents at least 2.0% of the aggregate Stated Principal Balance of the Mortgage Loans then outstanding
and has a Stated Principal Balance of at least $10,000,000, (B) represents one of the 10 largest Mortgage Loans (considering any
other Mortgage Loans with which it is cross-collateralized or cross-defaulted as a single Mortgage Loan) based on Stated Principal
Balance and has a Stated Principal Balance of at least $10,000,000, (C) has a Stated Principal Balance that is more than $20,000,000,
(D) has a loan-to-value ratio that is equal to or greater than 85% (including any existing and proposed debt) and has a Stated
Principal Balance of at least $10,000,000, (E) has a debt service coverage ratio that is less than 1.20x (in each case, determined
based upon the aggregate of the principal balance of the Mortgage Loan (or Serviced Whole Loan, if applicable) and the principal
amount of the proposed additional lien) and has a Stated Principal Balance of at least $10,000,000, (F) is the AMA Plaza Whole
Loan, (G) is the 225 Bush Street Whole Loan or (H) is a Mortgage Loan as to which the related Serviced Companion Loan represents
one of the 10 largest mortgage loans in the related other securitization (provided that the master servicer or special servicer,
as applicable, will be entitled to reasonably rely upon the written notification provided by the master servicer, special servicer,
trustee or certificate administrator of such other securitization as to whether such Serviced Companion Loan is one of the 10 largest
mortgage loans in such other securitization, or if no timely response is received, permitted to rely upon the most recent CREFC®
Reports from such other securitization), a Rating Agency Confirmation is received by the Master Servicer or the applicable Special
Servicer, as the case may be, from each Rating Agency and a confirmation of any applicable rating agency that such action will
not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities
(if any). Notwithstanding anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control Termination
Event has occurred and is continuing), the Master Servicer or the applicable Special Servicer, as the case may be, shall consult
with the Operating Advisor, on a non-binding basis, in connection with the related transactions involving proposed Major Decisions
and consider alternative actions recommended by the Operating Advisor, in respect thereof, in accordance with the procedures set
forth in Section 6.08 for consulting with the Operating Advisor.

 

In connection with any
request for a Rating Agency Confirmation from a Rating Agency (or, with respect to any Serviced Companion Loan Securities, the
related rating agencies) pursuant to this Section 3.08(b), the Master Servicer or the applicable Special Servicer that is
processing the related action, as applicable, shall (if not already provided in accordance with Section 3.25 of this Agreement)
deliver a Review Package to the 17g-5 Information Provider (or, with respect to any Serviced Companion Loan Securities, the related
17g-5 information provider) in accordance with Section 3.25 of this Agreement.

 

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To the extent permitted
by the related Mortgage Loan documents, the Rating Agency Confirmation described in the immediately preceding paragraph or in Section
3.08(a) shall be an expense of the related Mortgagor; provided that if the Mortgage Loan documents are silent as to
who bears the costs of obtaining any such Rating Agency Confirmation, the Master Servicer or the applicable Special Servicer that
is processing the related action, as applicable, shall use reasonable efforts to make the related Mortgagor bear such costs and
expenses. Unless determined to be a Nonrecoverable Advance such costs not collected from the related Mortgagor shall be advanced
as a Property Protection Advance.

 

If any Mortgage Loan
or related Companion Loan provides that such Mortgage Loan or related Companion Loan may be further encumbered without the consent
of the mortgagee provided that certain conditions are satisfied and there is no lender discretion with respect to the satisfaction
of such conditions, then for so long as such Mortgage Loan or related Companion Loan is being serviced under this Agreement, the
applicable Special Servicer, on behalf of the Trustee as the mortgagee of record, with respect to all Specially Serviced Mortgage
Loans (other than a Non-Serviced Mortgage Loan), shall determine whether conditions to further encumbrance have been satisfied
(provided that there is no lender discretion with respect to the satisfaction of such conditions), or (2) the Master Servicer,
on behalf of the Trustee as the mortgagee of record, with respect to all Non-Specially Serviced Mortgage Loans for which there
is no mortgagee discretion in determining whether conditions are satisfied, shall make such determination with respect to whether
such conditions have been satisfied.

 

Upon receiving a request
for any matter described in this Section 3.08(b) that constitutes a Special Servicer Major Decision, the Master Servicer
shall forward such request to the applicable Special Servicer and, unless the Master Servicer and the applicable Special Servicer
mutually agree that the Master Servicer will process such request in accordance with the terms and conditions reasonably agreed
to by the Master Servicer and Special Servicer, including the applicable Special Servicer’s consent, the applicable Special
Servicer will be required to process such request and the Master Servicer will have no further obligation with respect to such
request or the related Special Servicer Major Decision. If such action with respect to a Non-Specially Serviced Mortgage Loan is
not a Special Servicer Non-Major Decision or a Major Decision, the Master Servicer shall process the related request and shall
have no obligation to obtain the consent of or consult with the Special Servicer, Directing Certificateholder or Operating Advisor.

 

(c)       Nothing
in this Section 3.08 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive notice
of any assumption of a Mortgage Loan, any sale or other transfer of the related Mortgaged Property or the creation of any additional
lien or other encumbrance with respect to such Mortgaged Property.

 

(d)       Except
as otherwise permitted by Section 3.08(a) and (b) and/or Section 3.18, neither the Master Servicer nor the Special Servicers shall
agree to modify, waive or amend any term of any Mortgage Loan and related Serviced Companion Loan, as applicable, in connection
with the taking of, or the failure to take, any action pursuant to this Section 3.08. The Master Servicer and the applicable Special
Servicer, as applicable, shall provide copies of

 

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any final waivers (except with respect to provision of any such waivers to the
17g-5 Information Provider, exclusive of any Privileged Information) it effects pursuant to Section 3.08(a) or (b) to each other
and to the 17g-5 Information Provider with respect to each Mortgage Loan, and shall notify the Trustee, the Certificate Administrator,
each other and, subject to the terms of this Agreement, the 17g-5 Information Provider (for posting to the 17g-5 Information Provider’s
Website in accordance with Section 3.25) and, with respect to a Whole Loan, the related Serviced Companion Noteholder, of any assumption
or substitution agreement executed pursuant to Section 3.08(a) or (b) and shall forward thereto a copy of such agreement.

 

(e)       Notwithstanding
any other provision of this Agreement, the Master Servicer may not waive its rights or grant its consent under any “due-on-sale”
or “due-on-encumbrance” clause relating to any Mortgage Loan without the consent of the applicable Special Servicer
and the Special Servicer may not waive its rights or grant its consent under any “due-on-sale” or “due-on-encumbrance”
clause relating to any Non-Specially Serviced Mortgage or relating to any Specially Serviced Mortgage Loan without ((i) prior to
the occurrence and continuance of a Control Termination Event and (ii) other than with respect to any Excluded Loan) the consent
of the Directing Holder (or (i) after the occurrence and during the continuance of a Control Termination Event and (ii) other than
with respect to any Excluded Loan), but prior to a Consultation Termination Event, upon consultation with the Directing Holder
pursuant to Section 6.08 hereof). The Directing Holder shall have ten (10) Business Days after receipt of notice along with
the Master Servicer’s or the applicable Special Servicer’s recommendation and analysis with respect to such proposed
waiver or proposed granting of consent and any additional information the Directing Holder may reasonably request from the applicable
Special Servicer of a proposed waiver or consent under any “due on sale” or “due-on-encumbrance” clause
in which to grant or withhold its consent (provided that if the applicable Special Servicer fails to receive a response
to such notice from the Directing Holder in writing within such period, then the Directing Holder shall be deemed to have consented
to such proposed waiver or consent).

 

(f)       Notwithstanding
the foregoing provisions of this Section 3.08, if the Master Servicer or any Special Servicer, as applicable, makes a determination
under Sections 3.08(a) or 3.08(b) hereof that the applicable conditions in the related Mortgage Loan or Companion
Loan documents, as applicable, with respect to assumptions or encumbrances permitted without the consent of the mortgagee have
been satisfied, the applicable assumptions and transfers may be subject to an assumption or other fee, unless such fees are otherwise
prohibited pursuant to the Mortgage Loan documents; provided that any such fee not provided for in the Mortgage Loan documents
does not constitute a “significant” change in yield pursuant to Treasury Regulations Section 1.1001-3(e)(2).

 

Section
3.09     Realization Upon Defaulted Mortgage Loans and Companion Loans. (a) Upon an event of
default under the Mortgage Loan documents related to a Serviced Whole Loan or a Mortgage Loan with mezzanine debt, the Master
Servicer shall promptly provide written notice to the related Companion Holder or mezzanine lender, as applicable, with a
copy of such notice to the applicable Special Servicer. The applicable Special Servicer shall, subject to subsections
(b) through (d) of this Section 3.09, Section 3.24, subject to the Directing Holders’ rights
pursuant to Section 6.08, and any Companion Holder or mezzanine lender’s rights under the related Co-Lender
Agreement (in the case of a Serviced Whole Loan, on behalf

 

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of the holders of the beneficial interest of the related Companion Loan) or this Agreement, exercise reasonable
efforts, consistent with the Servicing Standard, to foreclose upon or otherwise comparably convert (which may include an REO Acquisition)
the ownership of property securing any such Mortgage Loan (other than any Non-Serviced Mortgage Loan) and related Companion Loan,
if any, as come into and continue in default as to which no satisfactory arrangements (including by way of a discounted pay-off)
can be made for collection of delinquent payments, and which are not released from the Trust Fund pursuant to any other provision
hereof. The foregoing is subject to the provision that, in any case in which a Mortgaged Property shall have suffered damage from
an Uninsured Cause, the Master Servicer or applicable Special Servicer the applicable shall not be required to make a Property
Protection Advance and expend funds toward the restoration of such property unless such Special Servicer has determined in its
reasonable discretion that such restoration will increase the net proceeds of liquidation of such Mortgaged Property to Certificateholders
after reimbursement to the Master Servicer or the applicable Special Servicer, as applicable, for such Property Protection Advance,
and the Master Servicer or such Special Servicer has not determined that such Property Protection Advance together with accrued
and unpaid interest thereon would constitute a Nonrecoverable Advance. The costs and expenses incurred by the applicable Special
Servicer in any such proceedings shall be advanced by the Master Servicer; provided that, in each case, such cost or expense
would not, if incurred, constitute a Nonrecoverable Property Protection Advance. Nothing contained in this Section 3.09
shall be construed so as to require the Master Servicer or a Special Servicer, on behalf of the Trust, to make an offer on any
Mortgaged Property at a foreclosure sale or similar proceeding that is in excess of the fair market value of such property, as
determined by the Master Servicer or the applicable Special Servicer in its reasonable judgment taking into account the factors
described in Section 3.16(b) and the results of any Appraisal obtained pursuant to the following sentence, all such offers
to be made in a manner consistent with the Servicing Standard. If and when the applicable Special Servicer or the Master Servicer
deems it necessary and prudent for purposes of establishing the fair market value of any Mortgaged Property securing a Defaulted
Mortgage Loan or any related defaulted Companion Loan, whether for purposes of making an offer at foreclosure or otherwise, the
applicable Special Servicer or the Master Servicer, as the case may be, is authorized to have an Appraisal performed with respect
to such property by an Independent MAI-designated appraiser the cost of which shall be paid by the Master Servicer as a Property
Protection Advance.

 

(b)       No
Special Servicer shall not acquire any personal property pursuant to this Section 3.09 unless either:

 

(i)         such
personal property is incidental to real property (within the meaning of Section 856(e)(1) of the Code) so acquired by such Special
Servicer; or

 

(ii)        such
Special Servicer shall have obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer as a Property
Protection Advance) to the effect that the holding of such personal property by the Trust (to the extent not allocable to the related
Companion Loan) will not cause an Adverse REMIC Event to occur.

 

(c)       Notwithstanding
the foregoing provisions of this Section 3.09 and Section 3.24, neither the Master Servicer nor the applicable Special
Servicer shall, on behalf of the Trustee, obtain title to a Mortgaged Property in lieu of foreclosure or otherwise, or take any

 

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other action with respect to any Mortgaged Property, if, as a result of any such action, the Trustee, on behalf of the Certificateholders
including the Holders of the Loan-Specific Certificates, if applicable) and/or any related Companion Holder, would be considered
to hold title to, to be a “mortgagee-in-possession” of, or to be an “owner” or “operator” of
such Mortgaged Property within the meaning of CERCLA or any comparable law, unless (as evidenced by an Officer’s Certificate
to such effect delivered to the Trustee) the applicable Special Servicer has previously determined in accordance with the Servicing
Standard, based on an Environmental Assessment of such Mortgaged Property performed by an Independent Person who regularly conducts
Environmental Assessments and performed within six (6) months prior to any such acquisition of title or other action, that:

 

(i)         such
Mortgaged Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental consultant,
that it would be in the best economic interest of the Certificateholders (and with respect to any Serviced Whole Loan, the related
Companion Holders), as a collective whole as if such Certificateholders and, if applicable, Companion Holders constituted a single
lender, to take such actions as are necessary to bring such Mortgaged Property in compliance with such laws, and

 

(ii)        there
are no circumstances present at such Mortgaged Property relating to the use, management or disposal of any hazardous materials
for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any currently effective
federal, state or local law or regulation, or that, if any such hazardous materials are present for which such action could be
required, after consultation with an environmental consultant, it would be in the best economic interest of the Certificateholders
(and with respect to any Serviced Whole Loan, the Companion Holders), as a collective whole as if such Certificateholders and,
if applicable, Companion Holders constituted a single lender, to take such actions with respect to the affected Mortgaged Property.

 

The cost of any such
Environmental Assessment shall be paid by the Master Servicer as a Property Protection Advance and the cost of any remedial, corrective
or other further action contemplated by clause (i) and/or clause (ii) of the preceding sentence shall be paid by
the Master Servicer as a Property Protection Advance, unless it is a Nonrecoverable Property Protection Advance (in which case
it shall be an expense of the Trust and, in the case of a Serviced Whole Loan, shall be withdrawn in accordance with the related
Co-Lender Agreement by the Master Servicer from the Collection Account, including from the Serviced Whole Loan Custodial Account
(such withdrawal to be made from amounts on deposit therein that are otherwise payable on or allocable to such Serviced Whole Loan));
and if any such Environmental Assessment so warrants, the applicable Special Servicer shall, except with respect to any Companion
Loan and any Environmental Assessment ordered after such Mortgage Loan has been paid in full, perform such additional environmental
testing at the expense of the Trust as it deems necessary and prudent to determine whether the conditions described in clauses
(i) and (ii) of the preceding sentence have been satisfied. With respect to Non-Specially Serviced Mortgage Loans, the
Master Servicer and, with respect to Specially Serviced Mortgage Loans, the applicable Special Servicer (other than any Non-Serviced
Mortgage Loan) shall review and be familiar with the terms and conditions relating to enforcing claims and shall monitor the dates
by which any claim or action must be taken (including delivering any notices to the insurer and

 

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using reasonable efforts to perform
any actions required under such policy) under each environmental insurance policy in effect and obtained on behalf of the mortgagee
to receive the maximum proceeds available under such policy for the benefit of the Certificateholders and the Trustee (as holder
of the Lower-Tier Regular Interests).

 

(d)       If
(i) the environmental testing contemplated by subsection (c) above establishes that either of the conditions set forth in
clauses (i) and (ii) of subsection (c) above of the first sentence thereof has not been satisfied with respect
to any Mortgaged Property securing a Defaulted Mortgage Loan and, in the case of a Serviced Mortgage Loan, any related Companion
Loan, and (ii) there has been no breach of any of the representations and warranties set forth in or required to be made pursuant
to Section 6 of the Mortgage Loan Purchase Agreement for which the Mortgage Loan Seller could be required to repurchase such Defaulted
Mortgage Loan pursuant to Section 6 of the Mortgage Loan Purchase Agreement, then the applicable Special Servicer shall take such
action as it deems to be in the best economic interest of the Trust (other than proceeding to acquire title to the Mortgaged Property)
and is hereby authorized (prior to the occurrence and continuance of a Control Termination Event and other than with respect to
any Excluded Loan), with the consent of the Directing Holder at such time as it deems appropriate to release such Mortgaged Property
from the lien of the related Mortgage, provided that, if such Mortgage Loan has a then-outstanding principal balance of
greater than $1,000,000, then prior to the release of the related Mortgaged Property from the lien of the related Mortgage, (i)
the applicable Special Servicer shall have notified the Rating Agencies, the Trustee, the Certificate Administrator, the Master
Servicer and ((A) prior to the occurrence of a Consultation Termination Event and (B) other than with respect to any Excluded Loan)
the Directing Holder, in writing of its intention to so release such Mortgaged Property and the bases for such intention, (ii)
the Certificate Administrator shall have posted such notice of the applicable Special Servicer’s intention to so release
such Mortgaged Property to the Certificate Administrator’s Website pursuant to Section 3.13(b) and (iii) in addition
to the prior written consent of the Directing Holder as required above, the Holders of Certificates evidencing at least 25% of
the Voting Rights shall have consented or have been deemed to have consented to such release within thirty (30) days of the Certificate
Administrator’s posting such notice to the Certificate Administrator’s Website (failure to respond by the end of such
30-day period being deemed consent of the Holders of the Certificates). To the extent any fee charged by any Rating Agency in connection
with rendering such written confirmation is not paid by the related Mortgagor, such fee is to be an expense of the Trust; provided
that the applicable Special Servicer shall use commercially reasonable efforts to collect such fee from the Mortgagor to the extent
permitted under the related Mortgage Loan documents.

 

(e)       Each
Special Servicer shall provide written reports and a copy of any Environmental Assessments in electronic format to the Directing
Holder (other than with respect to any Excluded Loan), the Master Servicer, the Certificate Administrator and the 17g-5 Information
Provider monthly regarding any actions taken by the such Special Servicer with respect to any Mortgaged Property securing a Defaulted
Mortgage Loan, or defaulted Companion Loan as to which the environmental testing contemplated in subsection (c) above has
revealed that either of the conditions set forth in clauses (i) and (ii) of the first sentence thereof has not been
satisfied, in each case until the earlier to occur of satisfaction of both such conditions, repurchase of the related Mortgage
Loan or Trust Subordinate Companion Loan by

 

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the Mortgage Loan Seller or release of the lien of the related Mortgage on such Mortgaged
Property.

 

(f)       Each
Special Servicer shall notify the Master Servicer of any abandoned and/or foreclosed properties which require reporting to the
Internal Revenue Service and shall provide the Master Servicer with all information regarding forgiveness of indebtedness and required
to be reported with respect to any Mortgage Loan or related Companion Loan that is abandoned or foreclosed and the Master Servicer
shall report to the Internal Revenue Service and the related Mortgagor, in the manner required by applicable law, such information
and the Master Servicer shall report, via Form 1099A or Form 1099C (or any successor form), all forgiveness of indebtedness and
abandonment and foreclosure to the extent such information has been provided to the Master Servicer by the such Special Servicer.
Upon request, the Master Servicer shall deliver a copy of any such report to the Trustee and the Certificate Administrator.

 

(g)       Each
Special Servicer shall have the right to determine, in accordance with the Servicing Standard, the advisability of the maintenance
of an action to obtain a deficiency judgment if the state in which the Mortgaged Property is located and the terms of the Mortgage
Loan (and if applicable, the related Companion Loan) permit such an action.

 

(h)       Each
Special Servicer shall maintain accurate records, prepared by one of its Servicing Officers, of each Final Recovery Determination
in respect of a Defaulted Mortgage Loan (other than with respect to a Non-Serviced Mortgage Loan) or defaulted Companion Loan or
any REO Property (other than any Non-Serviced Mortgaged Property) and the basis thereof. Each Final Recovery Determination shall
be evidenced by an Officer’s Certificate promptly delivered to the Trustee, the Certificate Administrator, the Directing
Holder (other than with respect to any Excluded Loan) and the Master Servicer and in no event later than the next succeeding P&I
Advance Determination Date.

 

Section
3.10     Trustee and Custodian to Cooperate; Release of Mortgage Files. (a) Upon the payment
in full of any Mortgage Loan or Trust Subordinate Companion Loan (other than a Non-Serviced Mortgage Loan), or the receipt by
the Master Servicer or the applicable Special Servicer, as the case may be, of a notification that payment in full shall be
escrowed in a manner customary for such purposes, the Master Servicer or the applicable Special Servicer, as the case may be,
will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and
request shall be in the form of a Request for Release substantially in the form of Exhibit E signed by a Servicing
Officer and shall include a statement to the effect that all amounts received or to be received in connection with such
payment which are required to be deposited in the Collection Account pursuant to Section 3.04(a) or remitted to the
Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such
shorter period as release can reasonably be accomplished if the Master Servicer or the applicable Special Servicer notifies
the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to
the Master Servicer or the applicable Special Servicer, as the case may be; provided that in the case of the payment
in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the
Custodian unless the related Serviced Whole Loan, is paid in full. No expenses incurred in connection with any instrument of
satisfaction or deed of reconveyance shall be chargeable to the Collection Account.

 

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(b)       From
time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and
any related Companion Loan), the Master Servicer or the applicable Special Servicer shall deliver to the Custodian a Request for
Release substantially in the form of Exhibit E signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian
shall deliver the Mortgage File or any document therein to the Master Servicer or the applicable Special Servicer (or a designee),
as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the
Custodian of a certificate of a Servicing Officer of the Master Servicer or the applicable Special Servicer, as the case may be,
stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that
all amounts received or to be received in connection with such liquidation which are required to be deposited into the Collection
Account (including amounts related to the related Companion Loan) pursuant to Section 3.04(a) have been or will be so deposited,
or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to
the Master Servicer or the applicable Special Servicer (or a designee), as the case may be, with the original being released upon
termination of the Trust.

 

(c)       Within
seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the applicable Special Servicer
notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the applicable Special Servicer
any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale
in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note
(including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other
remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The applicable Special
Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature,
such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents
be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and
delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of
such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents
for their sufficiency or enforceability.

 

(d)       If,
from time to time, pursuant to the terms of the applicable Non-Serviced Co-Lender Agreement and the applicable Non-Serviced Pooling
Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer
requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause
the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.

 

Section
3.11     Servicing Compensation. (a) As compensation for its activities hereunder, the Master
Servicer shall be entitled to receive the Servicing Fee with respect to each Mortgage Loan, Serviced Companion Loan and REO
Loan (other than the portion of any REO Loan related to any Non-Serviced Companion Loan) (including Specially Serviced
Mortgage Loans and any Non-Serviced Mortgage Loan constituting a “specially serviced mortgage loan” under any
related Non-Serviced Pooling Agreement). As to each Mortgage Loan, Companion

 

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Loan and REO Loan, the Servicing Fee shall
accrue from time to time at the Servicing Fee Rate and shall be computed on the basis of the Stated Principal Balance of such
Mortgage Loan, Companion Loan or REO Loan, as the case may be, and in the same manner as interest is calculated on such
Mortgage Loan, Companion Loan or REO Loan, as the case may be, and, in connection with any partial month interest payment,
for the same period respecting which any related interest payment due on such Mortgage Loan, Companion Loan or deemed to be
due on such REO Loan is computed. The Servicing Fee with respect to any Mortgage Loan, Companion Loan or REO Loan shall cease
to accrue if a Liquidation Event occurs with respect to the related Mortgage Loan, except that if such Mortgage Loan is part
of a Serviced Whole Loan and such Serviced Whole Loan continues to be serviced and administered under this Agreement
notwithstanding such Liquidation Event, then the applicable Servicing Fee shall continue to accrue and be payable as if such
Liquidation Event did not occur. The Servicing Fee shall be payable monthly, on a loan-by-loan basis, from payments of
interest on each Mortgage Loan, Companion Loan and REO Revenues allocable as interest on each REO Loan, and as otherwise
provided by Section 3.05(a). The Master Servicer shall be entitled to recover unpaid Servicing Fees in respect of any
Mortgage Loan, Companion Loan or REO Loan out of that portion of related payments, Insurance and Condemnation Proceeds,
Liquidation Proceeds and REO Revenues (in the case of an REO Loan) allocable as recoveries of interest, to the extent
permitted by Section 3.05(a). Except as set forth in the next two sentences, the third paragraph of this Section
3.11(a), Section 6.03, Section 6.05 and Section 7.01(c), the right to receive the Servicing Fee may
not be transferred in whole or in part (except in connection with a transfer of all of the Master Servicer’s duties and
obligations hereunder to a successor servicer in accordance with the terms hereof). With respect to each Serviced Pari Passu
Companion Loan, the Servicing Fee shall be payable to the Master Servicer from amounts payable in respect of such Serviced
Pari Passu Companion Loan, subject to the terms of the related Co-Lender Agreement.

 

The Master Servicer shall
be entitled to retain, and shall not be required to deposit in the Collection Account pursuant to Section 3.04(a), additional
servicing compensation (other than with respect to a Non-Serviced Mortgage Loan) in the form of the following amounts to the extent
collected from the related Mortgagor: (i) 100% of Excess Modification Fees related to any modifications, waivers, extensions or
amendments of any Non-Specially Serviced Mortgage Loans (other than any Non-Serviced Mortgage Loan) including any related Serviced
Companion Loans that are not Specially Serviced Mortgage Loans, to the extent not prohibited by the related Co-Lender Agreement
and that are not Specially Serviced Mortgage Loans that do not involve a Major Decision or a Special Servicer Non-Major Decision
and 50% of Excess Modification Fees related to any modifications, waivers, extensions or amendments of any Mortgage Loans (other
than any Non-Serviced Mortgage Loan) and any related Serviced Companion Loans that are not Specially Serviced Mortgage Loans to
the extent no prohibited by the related Co-Lender Agreement and that involve one or more Major Decisions or Special Servicer Non-Major
Decisions; (ii) 100% of all assumption application fees received on any Mortgage Loans and the Trust Subordinate Companion Loans,
in each case only for which the master servicer is processing the underlying assumption related transaction (including any related
Serviced Companion Loan, to the extent not prohibited by the related Co-Lender Agreement) (whether or not the consent of the applicable
Special Servicer is required) and 100% of all defeasance fees (provided that for the avoidance of doubt, any such defeasance
fees shall not include any Modification Fees or waiver fees in connection with a defeasance that the applicable Special

 

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Servicer
is entitled to under this Agreement); (iii) 100% of assumption, waiver, consent and earnout fees, review fees and similar fees
pursuant to Section 3.08 and Section 3.18 or other actions performed in connection with this Agreement on the Non-Specially
Serviced Mortgage Loans (including any related Serviced Companion Loan to the extent not prohibited by the related Co-Lender Agreement)
which do not involve a Major Decision or a Special Servicer Non-Major Decision; and (iv) 50% of all assumption, waiver, consent
and earnout fees, review fees and similar fees (other than assumption application and defeasance fees), pursuant to Section
3.08 and Section 3.18 on any Non-Specially Serviced Mortgage Loan (including any related Serviced Companion Loan to
the extent not prohibited by the related Co-Lender Agreement) which involve a Major Decision or Special Servicer Non-Major Decision
(whether or not processed by the applicable Special Servicer) and only to the extent that all amounts then due and payable with
respect to the related Mortgage Loan or Trust Subordinate Companion Loan have been paid. In addition, the Master Servicer shall
be entitled to retain as additional servicing compensation (other than with respect to a Non-Serviced Mortgage Loan) any charges
for processing Mortgagor requests, beneficiary statements or demands, fees in connection with defeasance, if any, and other customary
charges, and amounts collected for checks returned for insufficient funds, in each case only to the extent actually paid by the
related Mortgagor and shall not be required to deposit such amounts in the Collection Account or the Serviced Whole Loan Custodial
Account pursuant to Section 3.04(a) or Section 3.04(b), respectively. In addition, the Master Servicer shall also
be entitled to retain as additional servicing compensation (other than with respect to any Non-Serviced Mortgage Loan) reasonable
review fees in connection with any Mortgagor request to the extent such review fees are not prohibited under the related Mortgage
Loan documents, and only to the extent actually paid by the related Mortgagor. Subject to Section 3.11(d), the Master Servicer
shall also be entitled to additional servicing compensation in the form of: (i) Penalty Charges to the extent provided in Section
3.11(d), (ii) interest or other income earned on deposits relating to the Trust Fund in the Collection Account or the Serviced
Whole Loan Custodial Account in accordance with Section 3.06(b) (but only to the extent of the Net Investment Earnings,
if any, with respect to such account for the period from and including the prior Distribution Date to and including the Master
Servicer Remittance Date related to the current Distribution Date), (iii) interest or other income earned on deposits in the Servicing
Account which are not required by applicable law or the related Mortgage Loan or Trust Subordinate Companion Loan to be paid to
the Mortgagor, and (iv) the difference, if positive, between Prepayment Interest Excess and Prepayment Interest Shortfalls collected
on the Mortgage Loans, the Trust Subordinate Companion Loan and any Serviced Pari Passu Companion Loan, during the related Collection
Period to the extent not required to be paid as Compensating Interest Payments. The Master Servicer shall be required to pay out
of its own funds all expenses incurred by it in connection with its servicing activities hereunder (including, without limitation,
payment of any amounts due and owing to any of its Sub-Servicers and the premiums for any blanket Insurance Policy insuring against
hazard losses pursuant to Section 3.07), if and to the extent such expenses are not payable directly out of the Collection
Account and the Master Servicer shall not be entitled to reimbursement therefor except as expressly provided in this Agreement.

 

With respect to any of
the preceding fees as to which both the Master Servicer and the applicable Special Servicer are entitled to receive a portion thereof,
the Master Servicer and the applicable Special Servicer shall each have the right, but not any obligation, to reduce or elect not
to charge its respective portion of such fee; provided that (A) neither the Master

 

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Servicer nor the applicable Special Servicer
shall have the right to reduce or elect not to charge the portion of any such fee due to the other and (B) to the extent either
the Master Servicer or the applicable Special Servicer exercises its right to reduce or elect not to charge its respective portion
in any such fee, the party that reduced or elected not to charge its respective portion of such fee shall not have any right to
share in any part of the other party’s portion of such fee. If the Master Servicer decides not to charge any fee, the applicable
Special Servicer shall nevertheless be entitled to charge its portion of the related fee to which the applicable Special Servicer
would have been entitled if the Master Servicer had charged a fee and the Master Servicer shall not be entitled to any of such
fee charged by the applicable Special Servicer.

 

Notwithstanding anything
herein to the contrary, the Master Servicer may, at its option, assign or pledge to any third party or retain for itself the Transferable
Servicing Interest; provided, however, that in the event of any resignation or termination of such Master Servicer,
all or any portion of the Transferable Servicing Interest may be reduced by the Trustee to the extent reasonably necessary (in
the sole discretion of the Trustee) for the Trustee to obtain a qualified successor master servicer that meets the requirements
of Section 6.05 and who requires market-rate servicing compensation that accrues at a per annum rate in excess of
the Retained Fee Rate, and any such assignment of the Transferable Servicing Interest shall, by its terms be expressly subject
to the terms of this Agreement and such reduction. The Master Servicer shall pay the Transferable Servicing Interest to the holder
of the Transferable Servicing Interest at such time and to the extent the Master Servicer is entitled to receive payment of its
Servicing Fees hereunder, notwithstanding any resignation or termination of the Master Servicer hereunder (subject to reduction
pursuant to the preceding sentence).

 

(b)       As
compensation for its activities hereunder, each Special Servicer shall be entitled to receive the Special Servicing Fee with respect
to each Specially Serviced Mortgage Loan and REO Loan (other than a Non-Serviced Mortgage Loan and any REO Loan relating to a Non-Serviced
Mortgaged Property). As to each Specially Serviced Mortgage Loan and REO Loan, the Special Servicing Fee shall accrue from time
to time at the Special Servicing Fee Rate and shall be computed on the basis of the Stated Principal Balance of such Specially
Serviced Mortgage Loan or REO Loan, as the case may be, and in the same manner as interest is calculated on the Specially Serviced
Mortgage Loans or REO Loans, as the case may be, and, in connection with any partial month interest payment, for the same period
respecting which any related interest payment due on such Specially Serviced Mortgage Loan or deemed to be due on such REO Loan
is computed. The Special Servicing Fee with respect to any Specially Serviced Mortgage Loan or REO Loan shall cease to accrue if
a Liquidation Event occurs with respect to the related Mortgage Loan or Trust Subordinate Companion Loan. The Special Servicing
Fee shall be payable monthly, on a loan-by-loan basis, in accordance with the provisions of Section 3.05(a). The right to
receive the Special Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the
applicable Special Servicer’s responsibilities and obligations under this Agreement. Each Special Servicer shall not be entitled
to any Special Servicing Fees with respect to a Non-Serviced Mortgage Loan.

 

(c)       Additional
servicing compensation in the form of (i) 100% of all Excess Modification Fees related to modifications, waivers, extensions or
amendments of any Specially Serviced Mortgage Loans, (ii) 100% of all assumption application fees received on any Mortgage Loans
and any related Serviced Companion Loan (to the extent not prohibited by the

 

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related Co-Lender Agreement), only for which the applicable
Special Servicer is processing the underlying assumption related transaction, (iii) 100% of all assumption fees and other related
fees received on any Specially Serviced Mortgage Loans, (iv) 100% of waiver, consent and earnout fees and similar fees, pursuant
to Section 3.08 and Section 3.18 or other actions performed in connection with this Agreement on the Specially Serviced
Mortgage Loans or certain other similar fees paid by the related Mortgagor and (v) 50% of all Excess Modification Fees and assumption,
and consent fees pursuant to Section 3.08 or Section 3.18 and 50% of all earnout fees, review fees and similar fees
received with respect to all Mortgage Loans (including any related Serviced Companion Loan to the extent not prohibited by the
related Co-Lender Agreement) (excluding any Non-Serviced Mortgage Loan) that are not Specially Serviced Mortgage Loans that involve
one or more Major Decisions or Special Servicer Non-Major Decisions, shall be promptly paid to such Special Servicer by the Master
Servicer (or directly from the related Mortgagor) to the extent such fees are paid by the Mortgagor and shall not be required to
be deposited in the Collection Account pursuant to Section 3.04(a). Subject to Section 3.11(d), the applicable Special
Servicer shall also be entitled to additional servicing compensation in the form of: (i) Penalty Charges to the extent provided
in Section 3.11(d) and (ii) interest or other income earned on deposits relating to the Trust Fund in the applicable REO
Account and Loss of Value Reserve Fund in accordance with Section 3.06(b) (but only to the extent of the Net Investment
Earnings, if any, with respect to such account for the period from and including the prior Distribution Date to and including the
Master Servicer Remittance Date related to such Distribution Date). In addition, each Specific Servicer shall also be entitled
to retain as additional servicing compensation (other than with respect to any Non-Serviced Mortgage Loan) reasonable review fees
in connection with any Mortgagor request to the extent such review fees are not prohibited under the related Mortgage Loan documents,
and only to the extent actually paid by the related Mortgagor. Each Special Servicer shall also be entitled to additional servicing
compensation in the form of a Workout Fee with respect to each Corrected Loan at the Workout Fee Rate on such Corrected Loan for
so long as it remains a Corrected Loan; provided, however, that after receipt by the applicable Special Servicer
of Workout Fees with respect to such Corrected Loan in an amount equal to $25,000, any Workout Fees in excess of such amount shall
be reduced by the Excess Modification Fee Amount; provided, further, however, that in the event the Workout Fee collected
over the course of such workout calculated at the Workout Fee Rate is less than $25,000, then the applicable Special Servicer shall
be entitled to an amount from the final payment on the related Corrected Loan (including any related Serviced Companion Loan) that
would result in the total Workout Fees payable to the applicable Special Servicer in respect of that Corrected Loan (including
any related Serviced Companion Loan) to be $25,000. The Workout Fee shall be reduced (but not below zero) pursuant to the preceding
sentence with respect to each collection on such Corrected Loan from which fee would otherwise be payable until an amount equal
to such Excess Modification Fee Amount has been deducted in full. The Workout Fee with respect to any Corrected Loan will cease
to be payable if such loan again becomes a Specially Serviced Mortgage Loan; provided that a new Workout Fee will become
payable if and when such Specially Serviced Mortgage Loan again becomes a Corrected Loan. No Special Servicer shall be entitled
to any Workout Fee with respect to a Non-Serviced Mortgage Loan. If the applicable Special Servicer is terminated (other than for
cause) or resigns, it shall retain the right to receive any and all Workout Fees payable in respect of Mortgage Loans or any related
Companion Loan that became Corrected Loans prior to the time of that termination or resignation except the Workout Fees will no
longer

 

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be payable if the Corrected Loan subsequently becomes a Specially Serviced Mortgage Loan. If a Special Servicer resigns
or is terminated (other than for cause), it will receive any Workout Fees payable on Specially Serviced Mortgage Loans for which
the resigning or terminated Special Servicer had determined to grant a forbearance or cured the event of default through a modification,
restructuring or workout negotiated by such Special Servicer and evidenced by a signed writing, but which had not as of the time
such Special Servicer resigned or was terminated become a Corrected Loan solely because the Mortgagor had not had sufficient time
to make three consecutive timely Periodic Payments and which subsequently becomes a Corrected Loan as a result of the Mortgagor
making such three consecutive timely Periodic Payments. The successor special servicer will not be entitled to any portion of such
Workout Fees. No Special Servicer will be entitled to receive any Workout Fees after termination for cause. A Liquidation Fee will
be payable with respect to each Specially Serviced Mortgage Loan (other than a Non-Serviced Mortgage Loan) or REO Property (other
than a Non-Serviced Mortgaged Property) as to which the applicable Special Servicer receives any Liquidation Proceeds or Insurance
and Condemnation Proceeds subject to the exceptions set forth in the definition of Liquidation Fee (such Liquidation Fee to be
paid out of such Liquidation Proceeds, Insurance and Condemnation Proceeds). If, however, Liquidation Proceeds or Insurance and
Condemnation Proceeds are received with respect to any Corrected Loan and the applicable Special Servicer is properly entitled
to a Workout Fee, such Workout Fee will be payable based on and out of the portion of such Liquidation Proceeds and Insurance and
Condemnation Proceeds that constitute principal and/or interest on such Mortgage Loan. Notwithstanding anything herein to the contrary,
each Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout Fee, but not both, with respect to proceeds
on any Mortgage Loan. Notwithstanding the foregoing, with respect to any Companion Loan, the Liquidation Fee, Workout Fee and Special
Servicing Fees, if any, will be computed as provided in the related Co-Lender Agreement or to the extent such Co-Lender Agreement
is silent or refers to this Agreement or indicates such fees are paid in accordance with this Agreement, as provided herein as
though such Companion Loan were a Mortgage Loan. Subject to Section 3.11(d), each Special Servicer will also be entitled
to additional fees in the form of Penalty Charges. Each Special Servicer shall be required to pay out of its own funds all expenses
incurred by it in connection with its servicing activities hereunder (including, without limitation, payment of any amounts, other
than management fees in respect of REO Properties, due and owing to any of its Sub-Servicers and the premiums for any blanket Insurance
Policy obtained by it insuring against hazard losses pursuant to Section 3.07), if and to the extent such expenses are not
expressly payable directly out of the Collection Account or the applicable REO Account, and the applicable Special Servicer shall
not be entitled to reimbursement therefor except as expressly provided in this Agreement.

 

With respect to any of
the preceding fees as to which both the Master Servicer and the applicable Special Servicer are entitled to receive a portion thereof,
the Master Servicer and the applicable Special Servicer shall each have the right in their sole discretion, but not any obligation,
to reduce or elect not to charge its respective portion of such fee; provided that (A) neither the Master Servicer nor the applicable
Special Servicer shall have the right to reduce or elect not to charge the portion of any such fee due to the other and (B) to
the extent either the Master Servicer or the applicable Special Servicer exercises its right to reduce or elect not to charge its
respective portion in any such fee, the party that is reduced or elected not to charge its respective portion of such fee shall
not have any right to share in any part of the other party’s

 

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portion of such fee. If the Master Servicer decides not to charge
any fee, the applicable Special Servicer shall nevertheless be entitled to charge its portion of the related fee to which the applicable
Special Servicer would have been entitled if the Master Servicer had charged a fee and the Master Servicer shall not be entitled
to any of such fee charged by the applicable Special Servicer.

 

(d)       In
determining the compensation of the Master Servicer or the Special Servicers, as applicable, with respect to Penalty Charges, on
any Distribution Date, the aggregate Penalty Charges collected on any Mortgage Loan (other than a Non-Serviced Mortgage Loan) and
any related Companion Loan since the prior Distribution Date shall be applied (in such order) to reimburse (i) the Master Servicer,
the applicable Special Servicer or the Trustee for interest on Advances on such Mortgage Loan or related Companion Loan, if applicable
(and, in connection with a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer, the applicable Non-Serviced
Special Servicer or the applicable Non-Serviced Trustee for interest on the Property Protection Advances made by any such party
with respect to a Non-Serviced Whole Loan pursuant to the applicable Non-Serviced Pooling Agreement, to the extent not prohibited
by the applicable Non-Serviced Co-Lender Agreement) due on such Distribution Date, (ii) the Trust for all interest on Advances
previously paid to the Master Servicer or the Trustee pursuant to Section 3.05(a)(vi) hereof (and, in connection with a
Non-Serviced Mortgage Loan, the related trust for all interest on Property Protection Advances reimbursed by such trust to any
party under the applicable Non-Serviced Pooling Agreement, which resulted in an additional expense for the Trust, to the extent
not prohibited by the applicable Non-Serviced Co-Lender Agreement) with respect to such Mortgage Loan or related Companion Loan,
if applicable and (iii) the Trust for all additional expenses of the Trust (other than Special Servicing Fees, Workout Fees and
Liquidation Fees), including without limitation, inspections by the applicable Special Servicer and all unpaid Advances incurred
since the Closing Date with respect to such Mortgage Loan. Penalty Charges (other than with respect to a Non-Serviced Mortgage
Loan, which shall be payable as additional servicing compensation under the related Non-Serviced Pooling Agreement) remaining thereafter
shall be distributed to the Master Servicer, if and to the extent accrued while such Mortgage Loan and any related Companion Loan
was a Non-Specially Serviced Mortgage Loan, and to the applicable Special Servicer, if and to the extent accrued on such Mortgage
Loan during the period such Mortgage Loan was a Specially Serviced Mortgage Loan or REO Loan. Any Penalty Charges paid or payable
as additional servicing compensation to the Master Servicer and the Special Servicers shall be distributed between the Master Servicer
and the applicable Special Servicer, on a pro rata basis, based on the Master Servicer’s and such Special Servicer’s
respective entitlements to such compensation described in the previous sentence. Notwithstanding the foregoing, Penalty Charges
with respect to any Companion Loan will be allocated pursuant to the applicable Co-Lender Agreement after payment of all related
Advances and interest thereon and additional expenses of the Trust in accordance with this Section 3.11(d).

 

(e)       With
respect to each Distribution Date, each Special Servicer shall deliver or cause to be delivered to the Master Servicer within two
(2) Business Days following the Determination Date, and the Master Servicer shall deliver, to the extent it has received, to the
Certificate Administrator, without charge and on the same day as the Master Servicer is required to deliver the CREFC® Investor
Reporting Package for such Distribution Date, an electronic report (which may include HTML, word or excel compatible format, clean
and searchable PDF

 

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format or such other format as mutually agreeable between the Certificate Administrator and the applicable Special
Servicer) that discloses and contains an itemized listing of any Disclosable Special Servicer Fees received by the applicable Special
Servicer or any of its Affiliates, if any, with respect to such Distribution Date; provided that no such report shall be
due in any month during which no Disclosable Special Servicer Fees were received.

 

(f)        Each
Special Servicer and its Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration
(including, without limitation, in the form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing arrangement)
from any Person (including, without limitation, the Trust, any Mortgagor, any property manager, any guarantor or indemnitor in
respect of a Mortgage Loan and any purchaser of any Mortgage Loan or REO Property) in connection with the disposition, workout
or foreclosure of any Mortgage Loan, the management or disposition of any REO Property, or the performance of any other special
servicing duties under this Agreement, other than as expressly provided in this Section 3.11; provided that such
prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.

 

(g)       Pursuant
to the CREFC® License Agreement, CREFC® shall be paid (according to the payment instructions set
forth on Exhibit JJ hereto or such other payment instructions as CREFC® may provide to the Master Servicer
in writing at least two Business Days prior to the Master Servicer Remittance Date) the CREFC® Intellectual Property
Royalty License Fee on a monthly basis. The Master Servicer shall withdraw from the Collection Account and, to the extent sufficient
funds are on deposit therein, pay the CREFC® Intellectual Property Royalty License Fee to CREFC® in
accordance with Section 3.05(a)(xv) on a monthly basis, from funds on deposit in the Collection Account.

 

Section
3.12     Inspections; Collection of Financial Statements. (a) The Master Servicer shall
perform (at its own expense), or shall cause to be performed (at its own expense), a physical inspection of each Mortgaged
Property relating to a Mortgage Loan (other than a Non-Serviced Mortgage Loan or a Specially Serviced Mortgage Loan) with a
Stated Principal Balance of (i) $2,000,000 or more at least once every twelve (12) months and (ii) less than $2,000,000 at
least once every twenty-four (24) months, in each case, commencing in the calendar year 2018 (and each Mortgaged Property
shall be inspected on or prior to December 31, 2019); provided, however, that if a physical inspection has been
performed by the applicable Special Servicer in the previous twelve (12) months and the Master Servicer has no knowledge of a
material change in the Mortgaged Property since such physical inspection, the Master Servicer will not be required to perform
or cause to be performed, such physical inspection; provided, further, that if any scheduled payment becomes
more than sixty (60) days delinquent on the related Mortgage Loan, the applicable Special Servicer shall inspect or cause to
be inspected the related Mortgaged Property as soon as practicable after such Mortgage Loan becomes a Specially Serviced
Mortgage Loan and annually thereafter for so long as such Mortgage Loan remains a Specially Serviced Mortgage Loan. The cost
of such inspection by the applicable Special Servicer pursuant to the second proviso of the immediately preceding
sentence shall be an expense of the Trust, and, to the extent not paid by the related Mortgagor, reimbursed first from
Penalty Charges actually received from the related Mortgagor and then from the Collection Account pursuant to Section
3.05(a)(ii), provided that, with respect to a Serviced Whole Loan, such cost shall be payable, subject to the
terms of the related Co-Lender

 

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Agreement (i) with respect to a Serviced Pari Passu Whole Loan, pro rata and pari
passu, from the related Serviced Pari Passu Mortgage Loan and Serviced Pari Passu Companion Loan, in accordance with
their respective Stated Principal Balances, or (ii) with respect to a Serviced AB Whole Loan, first, from the
Non-Trust Subordinate Companion Loan, if any, then, from the related Trust Subordinate Companion Loan and then,
from the AB Mortgage Loan (and any Pari Passu Companion Loans, on a pro rata basis) (provided that, with
respect to any AB Subordinate Companion Loan, the foregoing shall not limit or otherwise modify the terms of the related
Co-Lender Agreement pursuant to which any amounts collected with respect to the related Whole Loan are allocated to the
related Serviced Mortgage Loan, any related Pari Passu Companion Loan and the AB Subordinate Companion Loan), in each case,
prior to being payable out of general collections. The applicable Special Servicer or the Master Servicer, as applicable,
shall prepare or cause to be prepared a written report of each such inspection detailing the condition of and any damage to
the Mortgaged Property to the extent evident from the inspection and specifying the existence of (i) any vacancy in the
Mortgaged Property that the preparer of such report has knowledge of and deems material, (ii) any sale, transfer or
abandonment of the Mortgaged Property of which the preparer of such report has knowledge or that is evident from the
inspection, (iii) any adverse change in the condition of the Mortgaged Property of which the preparer of such report has
knowledge or that is evident from the inspection, and that the preparer of such report deems material, (iv) any visible
material waste committed on the Mortgaged Property of which the preparer of such report has knowledge or that is evident from
the inspection and (v) photographs of each inspected Mortgaged Property. The applicable Special Servicer and the Master
Servicer shall deliver or, if applicable, make available on its website a copy (in electronic format) of each such report
prepared by such Special Servicer and the Master Servicer, respectively, to the other party, to the Directing Holder ((i)
prior to the occurrence and continuance of a Control Termination Event and (ii) other than with respect to any Excluded
Loan), any related Serviced Pari Passu Companion Noteholder, the Certificate Administrator and to the Trustee within five (5)
Business Days after completion of such report. Within five (5) Business Days after request for copies of such reports by the
Rating Agencies, the applicable Special Servicer or the Master Servicer, as applicable, shall deliver or make available a
copy (in electronic format) of each such report prepared by such Special Servicer and the Master Servicer, as applicable, to
the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website for review by
Privileged Persons. In respect of any Mortgage Loan other than an Excluded Loan and prior to the occurrence of a Consultation
Termination Event, the Master Servicer shall deliver a copy of each such report to the Directing Holder and upon request to
each Controlling Class Certificateholder (which request may state that such items may be delivered until further notice).

 

(b)       Each
Special Servicer under the Mortgage Loans for which it acts as Special Servicer, in the case of any Specially Serviced Mortgage
Loan, and the Master Servicer, in the case of any Non-Specially Serviced Mortgage Loan shall make reasonable efforts to collect
promptly and review from each related Mortgagor quarterly and annual operating statements, financial statements, budgets and rent
rolls of the related Mortgaged Property, and the quarterly and annual financial statements of such Mortgagor, whether or not delivery
of such items is required pursuant to the terms of the related Mortgage Loan documents and any other reports or documents required
to be delivered under the terms of the Mortgage Loans (and each Serviced Companion Loan), if delivery of such items is required
pursuant to the terms of the related Mortgage Loan (and each Serviced Companion Loan) documents. The Master Servicer

 

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and the applicable
Special Servicer shall not be required to request such operating statements or rent rolls more than once if the related Mortgagor
is not required to deliver such statements pursuant to the terms of the Mortgage Loan documents. In addition, the applicable Special
Servicer shall cause quarterly and annual operating statements, budgets and rent rolls to be regularly prepared in respect of each
REO Property and shall collect all such items promptly following their preparation. The applicable Special Servicer shall deliver
all such items to the Master Servicer within five (5) Business Days of receipt, and the Master Servicer shall make available on
its website copies of all the foregoing items so collected to the Trustee, the Certificate Administrator, the Directing Holder
and the Depositor, in electronic format, in each case within thirty (30) days of its receipt thereof, but in no event, in the case
of annual statements, later than June 30 of each year commencing June 30, 2017. Upon the request of any Privileged Person (other
than the NRSROs) to receive copies of such items, the Master Servicer or the applicable Special Servicer, as applicable, shall
deliver electronic copies of such items to the Certificate Administrator to be posted on the Certificate Administrator’s
Website. The Master Servicer or the applicable Special Servicer, as applicable, shall deliver copies of all the foregoing items
so collected thereby to the 17g-5 Information Provider pursuant to Section 3.13(c).

 

Within thirty (30) days
after receipt by the Master Servicer, with respect to all Non-Specially Serviced Mortgage Loans, or the applicable Special Servicer
with respect to Specially Serviced Mortgage Loans and REO Properties (other than any Non-Serviced Mortgaged Property), of any annual
operating statements or rent rolls beginning with the quarter ending March 31, 2017 and the calendar year ending December 31, 2017
with respect to any Mortgaged Property or REO Property, or if such date would be after June 30 of any year, then within thirty
(30) days after receipt, such Master Servicer or applicable Special Servicer, as applicable, shall, based upon such operating statements
or rent rolls received, prepare (or, if previously prepared, update) the analysis of operations and the CREFC® NOI
Adjustment Worksheet and the CREFC® Operating Statement Analysis Report; provided that any such CREFC®
Operating Statement Analysis Report and/or CREFC® NOI Adjustment Worksheet shall not be required to be prepared
or updated with respect to year-end or the first calendar quarter of each year to the extent provided by the then current CREFC®
Investor Reporting Package. Upon the occurrence and continuation of a Servicing Transfer Event, the Master Servicer shall provide
the applicable Special Servicer with all prior CREFC® Operating Statement Analysis Reports and CREFC®
NOI Adjustment Worksheets for the related Mortgage Loan or Serviced Whole Loan (including underwritten figures), and the applicable
Special Servicer’s obligations hereunder shall be subject to its having received all such reports. The Master Servicer and
applicable Special Servicer shall forward, upon request, to the other and (prior to the occurrence of a Consultation Termination
Event) the Directing Holder electronically monthly all operating statements and rent rolls received from any Mortgagor from the
prior month.

 

All CREFC®
Operating Statement Analysis Reports and CREFC® NOI Adjustment Worksheets shall be maintained by the Master Servicer
with respect to each Mortgaged Property (other than a Non-Serviced Mortgaged Property) and REO Property (other than any Non-Serviced
Mortgaged Property), and the Master Servicer shall forward copies (in electronic format) thereof (promptly following the initial
preparation and each material revision thereof)to the Certificate Administrator, the Directing Holder, and with respect to any
Serviced

 

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Companion Loan, the related Companion Holder, the applicable Special Servicer and the 17g-5 Information Provider, and
the 17g-5 Information Provider shall post all such items to the 17g-5 Information Provider’s Website. The Master Servicer
shall forward copies of the related operating statements or rent rolls (promptly following the initial preparation and each material
revision thereof) to the 17g-5 Information Provider, and the 17g-5 Information Provider shall post all such items to the 17g-5
Information Provider’s Website, and upon request, to the Certificate Administrator, the Directing Holder, and with respect
to any Serviced Companion Loan, the related Companion Holder, the applicable Special Servicer. The Master Servicer shall maintain
a CREFC® Operating Statement Analysis Report and a CREFC® NOI Adjustment Worksheet with respect to
each Mortgaged Property (other than a Non-Serviced Mortgaged Property) or REO Property (other than a Non-Serviced Mortgaged Property).

 

(c)       At
or before 2:00 p.m. (New York City time) on each Determination Date, the each Special Servicer shall prepare and deliver or cause
to be delivered to the Master Servicer and, prior to the occurrence of a Consultation Termination Event, the Controlling Class
Representative, the CREFC® Special Servicer Loan File and any applicable CREFC® Loan Liquidation
Reports, CREFC® Loan Modification Reports and CREFC® REO Liquidation Reports with respect to the
Specially Serviced Mortgage Loans (excluding, for the Directing Holder, any Excluded Loans) and any REO Properties (other than
a Non-Serviced Mortgaged Property), providing the information required of the applicable Special Servicer in an electronic format,
reasonably acceptable to the Master Servicer as of the Business Day preceding such Determination Date, which CREFC®
Special Servicer Loan File shall include data, to enable the Master Servicer to produce the following supplemental CREFC®
reports: (i) a CREFC® Delinquent Mortgage Loan Status Report, (ii) a CREFC® Historical Loan Modification/Forbearance
and Corrected Mortgage Loan Report, (iii) a CREFC® REO Status Report, (iv) a CREFC® Comparative Financial
Status Report and (v) a CREFC® NOI Adjustment Worksheet and a CREFC® Operating Statement Analysis
Report, in each case with the supporting financial statements, budgets, operating statements and rent rolls submitted by the Mortgagor.

 

(d)       Not
later than 5:00 p.m. (New York City time) on the Master Servicer Remittance Date beginning December 2016, the Master Servicer shall
prepare (if and to the extent necessary) and deliver or cause to be delivered in electronic format to the Certificate Administrator
the following reports and data files: (A) to the extent the Master Servicer has received the CREFC® Special Servicer
Loan File at the time required, the most recent CREFC® Delinquent Mortgage Loan Status Report, CREFC®
Historical Loan Modification/Forbearance and Corrected Mortgage Loan Report and the CREFC® REO Status Report, (B)
CREFC® Loan Setup File (with respect to the first Distribution Date), (C) the most recent CREFC®
Property File, and CREFC® Comparative Financial Status Report (in each case incorporating the data required to be
included in the CREFC® Special Servicer Loan File pursuant to Section 3.12(c) by the applicable Special Servicer
and Master Servicer), (D) a CREFC® Servicer Watch List with information that is current as of such Determination
Date, (E) CREFC® Financial File, (F) CREFC® Loan Level Reserve/LOC Report, (G) the CREFC®
Advance Recovery Report, (H) CREFC® Total Loan Report and (I) the report on Disclosable Special Servicer Fees delivered
pursuant to Section 3.11(e) to the extent received from the applicable Special Servicer, if any. Additionally, not later
than 5:00 p.m. (New York City time) on the Master Servicer Remittance Date beginning December 2016, the Master Servicer shall deliver
or cause to be delivered in

 

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electronic format to the Certificate Administrator any applicable CREFC® Loan Liquidation
Reports, CREFC® Loan Modification Reports and CREFC® REO Liquidation Reports received from the applicable
Special Servicer. Not later than 2:00 p.m. (New York City time) two (2) Business Days prior to the Distribution Date beginning
December 2016, the Master Servicer shall deliver or cause to be delivered to the Certificate Administrator via electronic format
the CREFC® Loan Periodic Update File and the CREFC® Appraisal Reduction Amount Template if provided for such
Distribution Date. In no event shall any report described in this subsection be required to reflect information that has not been
collected by or delivered to the Master Servicer, or any payments or collections not received by the Master Servicer, as of the
close of business on the Business Day prior to the Business Day on which the report is due. The Master Servicer, by (i) prior to
the securitization of the related Companion Loan, the Distribution Date or (ii) following the securitization of the related Companion
Loan, no later than the time(s) that it or any portion thereof is made available to the Certificate Administrator, shall make available
to each Serviced Companion Loan Noteholder with respect to the related Whole Loan or, if such Serviced Companion Loan is securitized,
the respective Other Servicer, the CREFC® Investor Reporting Package (CREFC® IRP) (excluding any
templates) pursuant to the terms of this Agreement on a monthly basis.

 

(e)       Each
Special Servicer shall deliver to the Master Servicer the reports and information required of such Special Servicer pursuant to
Section 3.12(b) and Section 3.12(c), and the Master Servicer shall deliver to the Certificate Administrator the reports
and data files set forth in Section 3.12(d). The Master Servicer may, absent manifest error, conclusively rely on the reports
and/or data to be provided by the applicable Special Servicer pursuant to Section 3.12(b) and Section 3.12(c). The
Certificate Administrator may, absent manifest error, conclusively rely on the reports and/or data to be provided by the Master
Servicer pursuant to Section 3.12(d). In the case of information or reports to be furnished by the Master Servicer to the
Certificate Administrator pursuant to Section 3.12(d), to the extent that such information or reports are, in turn, based
on information or reports to be provided by the applicable Special Servicer pursuant to Section 3.12(b) or Section 3.12(c)
and to the extent that such reports are to be prepared and delivered by the applicable Special Servicer pursuant to Section
3.12(b) or Section 3.12(c), the Master Servicer shall have no obligation to provide such information or reports to the
Certificate Administrator until it has received the requisite information or reports from the applicable Special Servicer, and
the Master Servicer shall not be in default hereunder due to a delay in providing the reports required by Section 3.12(d)
caused by the applicable Special Servicer’s failure to timely provide any information or report required under Section
3.12(b) or Section 3.12(c) of this Agreement.

 

(f)       Notwithstanding
the foregoing, however, the failure of the Master Servicer or a Special Servicer to disclose any information otherwise required
to be disclosed by this Section 3.12 shall not constitute a breach of this Section 3.12 to the extent the Master
Servicer or such Special Servicer so fails because such disclosure, in the reasonable belief of the Master Servicer or such Special
Servicer, as the case may be, would violate any applicable law or any provision of a Mortgage Loan document prohibiting disclosure
of information with respect to the Mortgage Loans or Mortgaged Properties. The Master Servicer and a Special Servicer may disclose
any such information or any additional information to any Person so long as such disclosure is consistent with applicable law and
the Servicing Standard. The Master Servicer or the a Special Servicer may affix to any information provided by it any disclaimer
it deems

 

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appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).

 

(g)       Unless
otherwise specifically stated herein, if the Master Servicer or a Special Servicer is required to deliver any statement, report
or information under any provisions of this Agreement, the Master Servicer or such Special Servicer, as the case may be, may satisfy
such obligation by (x) physically delivering a paper copy of such statement, report or information, (y) delivering such statement,
report or information in a commonly used electronic format or (z) except with respect to information to be provided to the Certificate
Administrator or any Companion Holder and, prior to the occurrence of a Consultation Termination Event, the Directing Holder, making
such statement, report or information available on the Master Servicer’s or the applicable Special Servicer’s Internet
website, unless this Agreement expressly specifies a particular method of delivery.

 

Notwithstanding anything
to the contrary in the foregoing, the Master Servicer and each Special Servicer shall deliver any required statements, reports
or other information to the Certificate Administrator in an electronic format mutually agreeable to the Certificate Administrator
and the Master Servicer or the applicable Special Servicer, as the case may be. The Master Servicer or the applicable Special Servicer
may physically deliver a paper copy of any such statement, report or information as a temporary measure due to system problems,
however, copies in electronic format shall follow upon the correction of such system problems.

 

Section
3.13     Access to Certain Information. (a) Each of the Master Servicer and the Special
Servicers shall provide or cause to be provided to the Certificate Administrator, and the Certificate Administrator shall
afford access to the Mortgage Loan Seller and to any Certificateholder that is a federally insured financial institution, the
OCC, the FDIC, the Board of Governors of the Federal Reserve System of the United States of America and the supervisory
agents and examiners of such boards and such corporations, and any other federal or state banking or insurance regulatory
authority that may exercise authority over any such Certificateholder, and to each Holder of a Non-Registered Certificate,
access to any documentation or information regarding the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and, in
the case of a Mortgage Loan that is a portion of a Serviced Whole Loan, the related Companion Loan, and the Trust within its
control which may be required by applicable law. At the election of the Master Servicer, the applicable Special Servicer or
the Certificate Administrator, such access may be afforded to such Person identified above by the delivery of copies of
information as requested by such Person and the Master Servicer, such Special Servicer or the Certificate Administrator
shall be permitted to require payment (other than from the Directing Holder and the Trustee and the Certificate Administrator
on its own behalf or on behalf of the Certificateholders, as applicable) of a sum sufficient to cover the reasonable
out-of-pocket costs incurred by it in making such copies. Such access shall (except as described in the preceding sentence)
be afforded without charge but only upon reasonable prior written request and during normal business hours at the offices of
the Certificate Administrator or the Custodian.

 

The failure of the Master
Servicer or a Special Servicer to provide access as provided in this Section 3.13 as a result of a confidentiality obligation
shall not constitute a breach of this Section 3.13. In connection with providing information pursuant to this

 

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Section
3.13, the Master Servicer and Special Servicers may each (i) affix a reasonable disclaimer to any information provided by it
for which it is not the original source (without suggesting liability on the part of any other party hereto); (ii) affix to any
information provided by it a reasonable statement regarding securities law restrictions on such information and/or condition access
to information on (x) the execution of a confidentiality agreement substantially in the form of Exhibit X, or (y) execution
of a “click-through” confidentiality agreement if such information is being provided through the Master Servicer’s
or the applicable Special Servicer’s website; (iii) withhold access to confidential information or any intellectual property;
and/or (iv) withhold access to items of information contained in the Servicing File for any Mortgage Loan if the disclosure of
such items is prohibited by applicable law or the provisions of any related Mortgage Loan documents or would constitute a waiver
of the attorney-client privilege. Notwithstanding any provision of this Agreement to the contrary, the failure of the Master Servicer
or a Special Servicer to disclose any information otherwise required to be disclosed by it pursuant to this Agreement shall not
constitute a breach of this Agreement to the extent that the Master Servicer or such Special Servicer, as the case may be, determines,
in its reasonable good faith judgment consistent with the applicable Servicing Standard, that such disclosure would violate applicable
law or any provision of a Mortgage Loan or Companion Loan document prohibiting disclosure of information with respect to the Mortgage
Loans or Companion Loans or the Mortgaged Properties, constitute a waiver of the attorney-client privilege on behalf of the Trust
or the Trust or otherwise materially harm the Trust or the Trust. Without limiting the generality of the foregoing, the Master
Servicer or a Special Servicer may refrain from disclosing information that it reasonably determines would prejudice the interest
of the Certificateholders with respect to a workout or exercise of remedies as to any particular Mortgage Loan or Trust Subordinate
Companion Loan.

 

Upon the reasonable request
of any Certificateholder (or with respect to any AB Subordinate Companion Loan, the holder of such AB Subordinate Companion Loan)
that is a Privileged Person identified to the Master Servicer’s reasonable satisfaction, the Master Servicer may provide
(or forward electronically) at the expense of such Certificateholder or holder of such AB Subordinate Companion Loan, as applicable,
copies of any appraisals, operating statements, rent rolls and financial statements (in each case, solely relating to the related
Serviced AB Whole Loan, if requested by the holder of an AB Subordinate Companion Loan or a Holder of the Loan-Specific Certificates)
obtained by the Master Servicer; provided that, in connection with such request, the Master Servicer may require a written
confirmation executed by the requesting Person substantially in such form as may be reasonably acceptable to the Master Servicer,
generally to the effect that such Person will keep such information confidential and shall use such information only for the purpose
of analyzing asset performance and evaluating any continuing rights the Certificateholder or holder of such AB Subordinate Companion
Loan, as applicable, may have under the Trust. For the avoidance of doubt, the Master Servicer shall not make any Asset Status
Reports available to any Certificateholders on its website. None of the parties to this Agreement shall provide any Asset Status
Report or any Final Asset Status Report to the Certificate Administrator.

 

Notwithstanding anything
to the contrary herein, unless required by applicable law or court order, no Certificateholder or beneficial owner shall be given
access to, or be provided copies of, the Mortgage Files or Diligence Files.

 

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(b)       The
Certificate Administrator shall make available to Privileged Persons (provided that the Prospectus, Distribution Date Statements,
the Mortgage Loan Purchase Agreement, this Agreement and the Commission EDGAR filings referred to below will be available to the
general public) via the Certificate Administrator’s Website, the following items, in each case, to the extent such items
were prepared by or delivered to the Certificate Administrator in electronic format:

 

(i)         The
following documents, which will initially be made available under a tab or heading designated “deal documents”:

 

(A)      the
Prospectus and any other disclosure document relating to the Offered Certificates or the Loan-Specific Certificates, in the form
most recently provided to the Certificate Administrator by the Depositor or by any Person designated by the Depositor;

 

(B)       this
Agreement and any amendments and exhibits hereto;

 

(C)       the
Mortgage Loan Purchase Agreement and any amendments and exhibits thereto; and

 

(D)       the
CREFC® Loan Setup File provided by the Master Servicer to the Certificate Administrator;

 

(ii)        the
following documents, which will initially be made available under a tab or heading designated “SEC EDGAR filings”;

 

(A)      any
reports on Forms 10-D, 10-K and 8-K that have been filed by the Certificate Administrator with respect to the Trust through the
EDGAR system;

 

(iii)       The
following documents, which will initially be made available under a tab or heading designated “periodic reports”:

 

(A)      all
Distribution Date Statements prepared by the Certificate Administrator pursuant to Section 4.02;

 

(B)       the
CREFC® Loan Periodic Update File, the CREFC® Bond Level File, the CREFC® Collateral
Summary File, the CREFC® Property File, each of the “surveillance reports” identified as such in the
definition of “CREFC® Investor Reporting Package” (including, without limitation, the CREFC®
Operating Statement Analysis Report and the CREFC® NOI Adjustment Worksheets), the CREFC® Advance
Recovery Report to the extent delivered by the Master Servicer pursuant to this Agreement from time to time; and

 

(C)       all
Operating Advisor Annual Reports;

 

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(iv)       The
following documents, which will initially be made available under a tab or heading designated “additional documents”:

 

(A)      summaries
of Final Asset Status Reports or, prior to an AB Control Appraisal Period or a Trust Subordinate Companion Loan Control Termination
Event, as applicable, summaries of Asset Status Reports approved by the holder of the related Companion Loan, and related information
delivered to the Certificate Administrator pursuant to Section 3.19(d);

 

(B)       all
environmental reports delivered to the Certificate Administrator pursuant to Section 3.12(a);

 

(C)       all
property inspection reports delivered to the Certificate Administrator pursuant to Section 3.09(e);

 

(D)      any
Appraisals delivered to the Certificate Administrator pursuant to Section 3.19; and

 

(E)       any
Appraisal Reduction Amount, any Collateral Deficiency Amount, and any resulting Cumulative Appraisal Reduction Amount delivered
to the Certificate Administrator pursuant to Section 4.05(a) (which may be in the form of the CREFC® Loan Periodic Update
File or the CREFC® Appraisal Reduction Amount Template included in the CREFC® Investor Reporting Package);

 

(v)       The
following documents, which will initially be made available under a tab or heading designated “special notices”:

 

(A)      any
notice with respect to a release pursuant to Section 3.09(d);

 

(B)       any
notice regarding a waiver, modification or amendment of the terms of any Mortgage Loan or Whole Loan pursuant to Section 3.18(h);

 

(C)       any
notice of final payment on the Certificates delivered to the Certificate Administrator pursuant to Section 4.01(h);

 

(D)      any
notice of the occurrence of any Servicer Termination Event or termination of the Master Servicer or a Special Servicer delivered
pursuant to Section 7.01;

 

(E)       any
notice of the Certificate Administrator’s determination that an Asset Review Trigger has occurred and any other notice required
to be delivered to the Certificateholders pursuant to Section 12.01;

 

(F)       any
Asset Review Report Summary received by the Certificate Administrator;

 

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(G)      any
notice of the termination of the Sub-Servicer delivered pursuant to Section 3.20(g);

 

(H)      any
notice of resignation of the Trustee or the Certificate Administrator, and any notice of the acceptance of appointment by the successor
trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(I)       any
Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(J)       any
notice of resignation or termination of the Master Servicer or the applicable Special Servicer pursuant to Section 7.03;

 

(K)      any
notice of termination pursuant to Section 9.01;

 

(L)       any
notice of resignation or termination of the Operating Advisor or the Asset Representations Reviewer and any notice of the acceptance
of appointment by the successor operating advisor or the successor Asset Representations Reviewer pursuant to Section 3.26
or Section 12.03, respectively;

 

(M)     any
notice of any request by requisite percentage of Certificateholders for a vote to terminate the applicable Special Servicer pursuant
to Section 7.01(d), the Operating Advisor pursuant to Section 3.26(j) or the Asset Representations Reviewer pursuant
to Section 12.05(b);

 

(N)      any
notice of recommendation of termination of a Special Servicer by the Operating Advisor and the related report prepared by the Operating
Advisor in connection with such recommendation;

 

(O)      any
notice that a Control Termination Event has occurred or is terminated or that a Consultation Termination Event has occurred;

 

(P)       any
notice of the occurrence of an Operating Advisor Termination Event;

 

(Q)      any
notice of the occurrence of an Asset Representations Reviewer Termination Event;

 

(R)      any
assessments of compliance delivered to the Certificate Administrator; and

 

(S)      any
attestation reports delivered to the Certificate Administrator;

 

(T)      any
“special notices” required by a Certificateholder to be posted on the Certificate Administrator’s website pursuant
to Section 5.06;

 

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(U)      the
“Investor Q&A Forum” pursuant to Section 4.07(a); and

 

(V)      solely
to Certificateholders and Certificate Owners that are Privileged Persons, the “Investor Registry” pursuant to Section
4.07(b);

 

provided that
with respect to a Control Termination Event or a Consultation Termination Event deemed to exist due solely to the existence of
an Excluded Loan, the Certificate Administrator will only be required to make available such notice of the occurrence and continuance
of a Control Termination Event or the notice of the occurrence and continuance of a Consultation Termination Event to the extent
the Certificate Administrator has been notified of such Excluded Loan.

 

The Certificate Administrator
shall post on the Certificate Administrator’s Website the items and reports identified in clauses (iii)(A) and (B)
above on each Distribution Date. In addition, if the Depositor so directs the Certificate Administrator, and on terms acceptable
to the Certificate Administrator, the Certificate Administrator shall make certain other information and reports related to the
Mortgage Loans available through its Internet website.

 

Notwithstanding the foregoing,
all Excluded Information shall be made available under a separate tab or heading designated “Excluded Information”
on the Certificate Administrator’s Website (and not under any of the tabs or headings described in items (i) through (vii)
above) and made available to Privileged Persons other than any Excluded Controlling Class Holder that is a Borrower Party.

 

Any Person (other than
the Directing Holder or a Controlling Class Certificateholder) that is a Borrower Party shall only be entitled to access the Distribution
Date Statements and the following items made available to the general public: the Prospectus, this Agreement, the Mortgage Loan
Purchase Agreement and the SEC filings on the Certificate Administrator’s Website. In the case of the Directing Holder or
a Controlling Class Certificateholder or an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class
Certificateholder, if any such Person becomes an Excluded Controlling Class Holder, upon delivery to the Master Servicer, the applicable
Special Servicer the Operating Advisor, the Certificate Administrator and the Trustee in physical form of an investor certification
substantially in the form Exhibit P-1E and upon delivery to the Certificate Administrator in physical form of an investor
certification substantially in the form of Exhibit P-1F, which shall include each of the CTSLink User ID associated with
such Excluded Controlling Class Holder, such Excluded Controlling Class Holder shall be entitled to access all information (other
than the Excluded Information with respect to any Excluded Controlling Class Loans (unless a loan-by-loan segregation is later
performed by the Certificate Administrator in which case such access shall only be prohibited with respect to the related Excluded
Controlling Class Loans)) available on the Certificate Administrator’s Website.

 

In the case of the Directing
Holder or a Controlling Class Certificateholder or an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling
Class Certificateholder that is not an Excluded Controlling Class Holder, upon delivery of an investor certification substantially
in the form of Exhibit P-1B hereto, such Directing Holder or

 

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Controlling Class Certificateholder or AMA Plaza Controlling
Class Certificateholder or 225 Bush Street Controlling Class Certificateholder shall be entitled to access all information on the
Certificate Administrator’s Website. The Master Servicer, the Special Servicers, the Operating Advisor, the Certificate Administrator
and the Trustee may each rely on (i) an investor certification in the form of Exhibit P-1B hereto from the Directing Holder
or a Controlling Class Certificateholder or an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class
Certificateholder to the effect that such Person is not an Excluded Controlling Class Holder and (ii) an investor certification
in the form of Exhibit P-1D hereto from the Directing Holder or a Controlling Class Certificateholder or an AMA Plaza Controlling
Class Certificateholder or a 225 Bush Street Controlling Class Certificateholder to the effect that such Person is an Excluded
Controlling Class Holder with respect to one or more Excluded Controlling Class Loan(s). In the event the Directing Holder or a
Controlling Class Certificateholder or an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class
Certificateholder becomes an Excluded Controlling Class Holder, such party shall promptly notify each of the Master Servicer, the
applicable Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee in writing substantially in the
form of Exhibit P-1E that such party has become an Excluded Controlling Class Holder with respect to the Excluded Controlling
Class Loan(s) listed in such notice and shall also provide the Certificate Administrator a notice substantially in the form of
Exhibit P-1F listing each of the CTSLink User ID associated with such Excluded Controlling Class Holder and directing the
Certificate Administrator to restrict such Excluded Controlling Class Holder’s access to the Certificate Administrator’s
Website as and to the extent provided in this Agreement. Upon confirmation from the Certificate Administrator that such access
has been restricted, such Excluded Controlling Class Holder shall submit a new investor certification substantially in the form
of Exhibit P-1D to access the information on the Certificate Administrator’s Website, except that such Excluded Controlling
Class Holder shall not be entitled to access any Excluded Information related to any Excluded Controlling Class Loan(s) (unless
a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access shall only be prohibited
with respect to the related Excluded Controlling Class Loan(s)) made available on the Certificate Administrator’s Website.
With respect to any Excluded Information sent for posting on the Certificate Administrator’s Website, each of the Master
Servicer, the applicable Special Servicer and the Operating Advisor shall mark or label such information as “Excluded Information”
prior to delivery to the Certificate Administrator, and the Certificate Administrator shall segregate on the Certificate Administrator’s
Website such Excluded Information (and, if possible, on loan-by-loan basis) from information relating to other Mortgage Loans or
Whole Loans, as applicable.

 

Notwithstanding anything
herein to the contrary, each of the Master Servicer, the Special Servicers, the Operating Advisor, the Certificate Administrator
and the Trustee shall be entitled to conclusively assume that the Directing Holder and all beneficial owners of the Certificates
of the Controlling Class are not Excluded Controlling Class Holders except to the extent that the Master Servicer, the applicable
Special Servicer, the Operating Advisor, the Certificate Administrator or the Trustee, as applicable, has received a notice substantially
in the form of Exhibit P-1E from the Directing Holder or a Controlling Class Certificateholder or an AMA Plaza Controlling
Class Certificateholder or a 225 Bush Street Controlling Class Certificateholder that it has become an Excluded Controlling Class
Holder. None of the Master Servicer, the Special Servicers, the Operating Advisor or the Certificate Administrator shall be

 

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liable
for any communication to the Directing Holder or a Controlling Class Certificateholder that is an Excluded Controlling Class Holder
or disclosure of any information relating to an Excluded Controlling Class Loan (including any related Excluded Information delivered
to the Certificate Administrator for posting to the Certificate Administrator’s Website) if the Master Servicer, the applicable
Special Servicer, the Operating Advisor or the Certificate Administrator, as applicable, did not receive prior written notice that
the related Mortgage Loan is an Excluded Controlling Class Loan and/or, with respect to any related Excluded Information posted
on the Certificate Administrator’s Website, such information was not delivered to the Certificate Administrator in accordance
with Section 3.30(a).

 

Each of the Master Servicer,
the Special Servicers, the Operating Advisor, the Certificate Administrator and the Trustee shall be entitled to conclusively rely
on delivery from the Directing Holder or a Controlling Class Certificateholder or an AMA Plaza Controlling Class Certificateholder
or a 225 Bush Street Controlling Class Certificateholder of an investor certification substantially in the form of Exhibit P-1B
that it is not or is no longer an Excluded Controlling Class Holder. To the extent the Directing Holder or a Controlling Class
Certificateholder receives access pursuant to this Agreement to any Excluded Information on the Certificate Administrator’s
Website or otherwise receives access to such Excluded Information, such Directing Holder or Controlling Class Certificateholder
shall be deemed to have agreed that it (i) will not directly or indirectly provide any such Excluded Information to (A) the related
Borrower Party, (B) any related Excluded Controlling Class Holder, (C) any employees or personnel of such Directing Holder or Controlling
Class Certificateholder or any of its Affiliate involved in the management of any investment in the related Borrower Party or the
related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership interest
in the related Borrower Party, and (ii) will maintain sufficient internal controls and appropriate policies and procedures in place
in order to comply with the obligations described in clause (i) above.

 

The Certificate Administrator
makes no representation or warranty as to the accuracy or completeness of any report, document or other information made available
on its Internet website and assumes no responsibility therefor, other than with respect to such reports, documents or other information
prepared by the Certificate Administrator. In addition, the Certificate Administrator may disclaim responsibility for any information
distributed by it for which it is not the original source. Notwithstanding anything herein to the contrary, the Certificate Administrator
shall not be liable for any disclosure of information relating to any Excluded Controlling Class Loan to the extent such information
was included in the Asset Status Report or the Final Asset Status Report delivered to the Certificate Administrator for posting
to the Certificate Administrator’s Website and not properly identified as relating to any Excluded Controlling Class Loan.

 

In connection with providing
access to the Certificate Administrator’s Website (other than with respect to access provided to the general public in accordance
with Section 3.13(b)), the Certificate Administrator may require registration and the acceptance of a disclaimer. The Certificate
Administrator shall not be liable for the dissemination of information in accordance herewith. Questions regarding the Certificate
Administrator’s Website can be directed to the Certificate Administrator’s CMBS customer service desk at (866) 846-4526.

 

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(c)       The
17g-5 Information Provider shall make available solely to the Depositor and the NRSROs the following items to the extent such items
are delivered to it (in the form of an electronic document suitable for posting) via electronic mail at 17g5informationprovider@wellsfargo.com,
specifically with a subject reference of “GSMS 2016-GS4” and an identification of the type of information being provided
in the body of such electronic mail; or via any alternative electronic mail address following notice to the parties hereto or any
other delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial:

 

(i)        any
notices of waivers under Section 3.08(d);

 

(ii)       any
Asset Status Report delivered by the applicable Special Servicer under Section 3.19(d);

 

(iii)      any
notice of final payment on the Certificates;

 

(iv)      any
environmental reports delivered by the applicable Special Servicer under Section 3.09(e);

 

(v)       any
Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.19;

 

(vi)      any
annual statements as to compliance and related Officer’s Certificates delivered under Section 11.09 or 11.10;

 

(vii)     any
annual independent public accountants’ attestation reports delivered pursuant to Section 11.11;

 

(viii)    any
notice to the Rating Agencies relating to the applicable Special Servicer’s determination to take action without receiving
Rating Agency Confirmation from any Rating Agency as set forth in Section 3.25(a);

 

(ix)       copies
of requests or questions that were submitted by the Rating Agencies relating to a request for Rating Agency Confirmation;

 

(x)        any
requests for Rating Agency Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.25(a);

 

(xi)        any
notice of resignation of the Trustee or the Certificate Administrator and any notice of the acceptance of appointment by the successor
trustee or the successor certificate administrator pursuant to Section 8.07 or Section 8.08;

 

(xii)       any
Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(xiii)      any
notice of a Servicer Termination Event or termination of the Master Servicer or a Special Servicer delivered pursuant to Section
7.01;

 

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(xiv)      any
notice of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09;

 

(xv)       any
notice of any amendment that modifies the procedures herein relating to Rule 17g-5 of the Exchange Act pursuant to Section 13.01(a)(ix);

 

(xvi)      any
Operating Advisor Annual Report pursuant to Section 3.26;

 

(xvii)     any
summary of oral communication with the Rating Agencies or any written question or request from the Rating Agencies directed toward
the Master Servicer, the applicable Special Servicer, Certificate Administrator or Trustee regarding any of the information delivered
to the 17g-5 Information Provider pursuant to this Section 3.13(c) or regarding any request for a Rating Agency Confirmation
or regarding any of the Mortgage Loan documents or any matter related to the Certificates, Mortgage Loans, any related Companion
Loan, the related Mortgaged Properties, the related Mortgagors or any other matters related to this Agreement or any applicable
Co-Lender Agreement; provided that the summary of such oral communication shall not identify the Rating Agency with whom
the communication was held pursuant to Section 3.13(g);

 

(xviii)    any
other information delivered to the 17g-5 Information Provider pursuant to this Agreement including, without limitation, Section
2.03(b), Section 3.07(a), Section 3.12, Section 3.17(c), Section 3.18(h); Section 11.09
or Section 11.10; and

 

(xix)       any
other information delivered to the Rating Agencies pursuant to this Agreement including, without limitation, Section 13.10.

 

The foregoing information
shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website. Information will be
posted on the same Business Day of receipt provided that such information is received by 2:00 p.m., New York City time, or, if
received after 2:00 p.m., New York City time, on the next Business Day by 12:00 p.m. New York City time; provided, however,
that any information delivered pursuant to Section 3.15(d) shall be posted in accordance with Section 3.15(d). The
17g-5 Information Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information being
delivered is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports to
be. In the event that any information is delivered or posted in error, each of the Certificate Administrator and the 17g-5 Information
Provider may remove such information from the 17g-5 Information Provider’s Website. The Certificate Administrator and the
17g-5 Information Provider have not obtained and shall not be deemed to have obtained actual knowledge of any information merely
by posting such information to the Certificate Administrator’s Website or the 17g-5 Information Provider’s Website
to the extent such information was not produced by the Certificate Administrator or the 17g-5 Information Provider, as applicable.
Access will be provided by the 17g-5 Information Provider to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit
P-2 hereto (which certification may be submitted electronically via the 17g-5 Information Provider’s Website). If a Rating
Agency requests access to the 17g-5 Information Provider’s Website, access shall be granted by the 17g-5 Information Provider
on the same Business Day, provided that such request

 

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is made prior to 2:00 p.m., New York City time, on such Business Day,
or if received after 2:00 p.m., New York City time, on the following Business Day. Questions regarding delivery of information
to the 17g-5 Information Provider may be directed to (866) 846-4526 or 17g5informationprovider@wellsfargo.com (specifically referencing
“GSMS 2016-GS4” in the subject line).

 

Upon delivery by the
Depositor to the 17g-5 Information Provider of information designated by the Depositor as pre-closing information from the Depositor’s
17g-5 website (the “Pre-close Information”), the 17g-5 Information Provider shall make such information available only
to the Depositor and to NRSROs via the 17g-5 Information Provider’s Website pursuant to this Section 3.13(c). Such
information shall be provided to the 17g-5 Information Provider via electronic media, and delivered to the 17g-5 Information Provider
as mutually agreed. The Depositor shall not be entitled to direct the 17g-5 Information Provider to provide access to the Pre-close
Information or any other information on the 17g-5 Information Provider’s Website to any designee or third party.

 

Upon request of the Depositor
or the Rating Agencies, the 17g-5 Information Provider shall post on the 17g-5 Information Provider’s Website any additional
information requested by the Depositor or the Rating Agencies to the extent such information is delivered to the 17g-5 Information
Provider electronically in accordance with this Section 3.13. In no event shall the 17g-5 Information Provider disclose
on the 17g-5 Information Provider’s Website the Rating Agency that requested such additional information.

 

The 17g-5 Information
Provider shall notify any party that delivers information to the 17g-5 Information Provider under this Agreement that such information
was received and that it has been posted. The 17g-5 Information Provider shall notify each Person that has signed-up for access
to the 17g-5 Information Provider’s Website in respect of the transaction governed by this Agreement each time an additional
document is posted to the 17g-5 Information Provider’s Website and such notice shall specifically identify such document
in the subject line or otherwise in the body of the email notice. The 17g-5 Information Provider shall send such notice to such
Person’s email address provided by and used by such Person for the purpose of accessing the 17g-5 Information Provider’s
Website, including a general email address if such general email address has been provided to the 17g-5 Information Provider in
connection with a completed NRSRO Certification in the form of Exhibit P-2 hereto.

 

Any information required
to be delivered to the 17g-5 Information Provider by any party under this Agreement shall be delivered to it via electronic mail
at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “GSMS 2016-GS4” and an identification
of the type of information being provided in the body of such electronic mail, or via any alternative electronic mail address following
notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information Provider.

 

Notwithstanding anything
to the contrary contained in this Agreement, none of the foregoing information which relates solely to the Loan-Specific Certificates
and does not contain information related to the corresponding Whole Loan or other Certificates shall be required to delivered to
the Rating Agencies or be posted to the 17g-5 Information Provider’s Website.

 

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(d)       The
Master Servicer or the applicable Special Servicer, as applicable, may, but shall not be obligated to, provide bulk information
that relates to two or more transactions to the 17g-5 Information Provider. Any such information shall be posted by the 17g-5 Information
Provider and the 17g-5 Information Provider may, but shall not be obligated to post such information in accordance with the timeframe
provided in Section 3.15(c) above, provided, however, that if the 17g-5 Information Provider is not able to
post such information in accordance with the timeframe in Section 3.15(c), then it shall post such information within a
reasonable time. The Master Servicer or the applicable Special Servicer, as applicable, shall not send such information directly
to the Rating Agencies until the 17g-5 Information Provider notifies it that such information has been posted to the 17g-5 Information
Provider’s Website.

 

(e)        Certain
information concerning the Mortgage Loans and the Certificates (including the Distribution Date Statements, CREFC®
reports and supplemental notices with respect to such Distribution Date Statements and CREFC® reports) shall be provided by
the Certificate Administrator to third parties (including Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc., Moody’s Analytics,
CMBS.com, Inc., BlackRock Financial Management Inc., Markit Group Limited and Thomson Reuters Corporation) at the direction of
the Depositor which may be in the form of a standing order, and providing such information shall not constitute a breach of this
Agreement by the Certificate Administrator. Such information will be made available to such third parties upon receipt of a certificate
in the form of Exhibit P-3 hereto, which certification may be submitted electronically via the Certificate Administrator’s
Website.

 

(f)        Each
of the Master Servicer and the Special Servicers may, in accordance with such reasonable rules and procedures as it may adopt,
also deliver, produce or otherwise make available through its website or otherwise, any additional information relating to the
Mortgage Loans (other than any Non-Serviced Mortgage Loan), any related Serviced Companion Loan, the Mortgaged Properties (other
than any Non-Serviced Mortgaged Property), or the related Mortgagors, for review by the Depositor, the Underwriters and any other
Persons who deliver an Investor Certification in accordance with this Section 3.13 and the Rating Agencies (collectively,
the “Disclosure Parties”) (only to the extent such additional information is simultaneously delivered to the
17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website in accordance with the provisions of Section
3.13(c)), in each case, except to the extent doing so is prohibited by this Agreement (including without limitation, any prohibitions
on dissemination of any confidential information, including, without limitation, any Privileged Information), applicable law or
by the related Mortgage Loan documents. Each of the Master Servicer and the Special Servicers shall be entitled to (i) indicate
the source of such information and affix thereto any disclaimer it deems appropriate in its discretion and/or (ii) require that
the recipient of such information (A) except for the Depositor and the Rating Agencies, enter into (x) an Investor Certification,
(y) a confidentiality agreement substantially in the form of Exhibit X or (z) a “click-through” confidentiality
agreement if such information is being provided through the Master Servicer’s or the applicable Special Servicer’s
website, and (B) acknowledge that the Master Servicer or such Special Servicer may contemporaneously provide such information to
any other Disclosure Party. In addition, to the extent access to such information is provided via the Master Servicer’s or
the applicable Special Servicer’s website, the Master Servicer and such Special Servicer may require registration and the
acceptance of a reasonable and customary disclaimer and/or an additional or alternative agreement as to the

 

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confidential nature
of such information. In connection with providing access to or copies of the information described in this Section 3.13(f)
to current or prospective Certificateholders the form of confidentiality agreement used by the Master Servicer or the applicable
Special Servicer, as applicable, shall be: (i) in the case of a Certificateholder, an Investor Certification executed by the requesting
Person indicating that such Person is a Holder of Certificates and will keep such information confidential (except that such Certificateholder
may provide such information (x) to its auditors, legal counsel and regulators and (y) to any other Person that holds or is contemplating
the purchase of any Certificate or interest therein (provided that such other Person confirms in writing such ownership
interest or prospective ownership interest and agrees to keep such information confidential)); and (ii) in the case of a prospective
purchaser of Certificates or interests therein or an investment advisor related thereto, an Investor Certification indicating that
such Person is a prospective purchaser of a Certificate or an interest therein or an investment advisor related thereto and is
requesting the information for use in evaluating a possible investment in Certificates and will otherwise keep such information
confidential with no further dissemination (except that such Certificateholder may provide such information to its auditors, legal
counsel and regulators). In the case of a licensed or registered investment advisor acting on behalf of a current or prospective
Certificateholder, the Investor Certification shall be executed and delivered by both the investment advisor and such current or
prospective Certificateholder.

 

Neither the Master Servicer
nor the Special Servicers shall be liable for its dissemination of information in accordance with this Agreement or by others in
violation of the terms of this Agreement. Neither the Master Servicer nor the Special Servicers shall be responsible or have any
liability for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant to this
Section 3.13 unless such information was produced by the Master Servicer or the applicable Special Servicer, as the case
may be.

 

(g)       The
Master Servicer, the Special Servicers, the Certificate Administrator and the Trustee shall be permitted (but not obligated) to
orally communicate with the Rating Agencies regarding any of the Mortgage Loan documents and any other matter related to the Mortgage
Loans, the related Mortgaged Properties, the related Mortgagors or any other matters relating to this Agreement or related Co-Lender
Agreement; provided that such party summarizes the information provided to the Rating Agencies in such communication in
writing and provides the 17g-5 Information Provider with such written summary in accordance with the procedures set forth in Section
3.13(c) the same day such communication takes place; provided, further that the summary of such oral communications
shall not identify which Rating Agency the communication was with. The 17g-5 Information Provider shall post such written summary
on the 17g-5 Information Provider’s Website in accordance with the procedures set forth in Section 3.13(c).

 

(h)       The
Special Servicers, subject to the limitations on delivery of Privileged Communications, shall deliver to the Operating Advisor
such reports and other information produced or otherwise available to the Directing Holder (other than, prior to the occurrence
and continuance of a Control Termination Event, any Asset Status Reports that are not Final Asset Status Reports), or Certificateholders
generally, requested by the Operating Advisor in support of the performance of its obligations under this Agreement in electronic
format.

 

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(i)         None
of the foregoing restrictions in this Section 3.13 or otherwise in this Agreement shall prohibit or restrict oral or written
communications, or providing information, between the Master Servicer, the Operating Advisor, the Asset Representations Reviewer
or the applicable Special Servicer, on the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such
Rating Agency’s or NRSRO’s review of the ratings it assigns to the Master Servicer, the Operating Advisor, the Asset
Representations Reviewer or the applicable Special Servicer, as the case may be, (ii) such Rating Agency’s or NRSRO’s
approval of the Master Servicer, the Operating Advisor, the Asset Representations Reviewer or the applicable Special Servicer,
as applicable, as a commercial mortgage master, special or primary servicer, or (iii) such Rating Agency’s or NRSRO’s
evaluation of the Master Servicer’s, the Operating Advisor, the Asset Representations Reviewer’s or the applicable
Special Servicer’s, as the case may be, servicing operations in general; provided, that the Master Servicer, the Operating
Advisor, the Asset Representations Reviewer or such Special Servicer, as applicable, shall not provide any information relating
to the Certificates or the Mortgage Loans or Trust Subordinate Companion Loan, as applicable, to any Rating Agency or NRSRO in
connection with such review and evaluation by such Rating Agency or NRSRO unless (x) Mortgagor, property and other deal specific
identifiers are redacted; (y) such information has already been provided to the 17g-5 Information Provider and has been uploaded
on to the 17g-5 Information Provider’s Website; or (z) the Rating Agency confirms in writing that it does not intend to use
such information in undertaking credit rating surveillance with respect to the Certificates; provided, however, that
the Rating Agencies may use information delivered under this clause (z) for any purpose to the extent it is publicly available
(unless the availability results from a breach of this Agreement or any other confidentiality agreement to which such Rating Agency
is subject) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s Website
(or another 17g-5 information provider’s website that they have access to) other than pursuant to this Section 3.13(i).

 

(j)         The
costs and expenses of compliance with this Section 3.13 by the Depositor, the Master Servicer, the Special Servicers, the
Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations Reviewer and any other party hereto shall
not be additional expenses of the Trust, but shall be borne by the applicable party hereto.

 

Section
3.14     Title to REO Property; REO Account. (a) If title to any Mortgaged Property is
acquired (and thus becomes REO Property), the deed or certificate of sale shall be issued in the name of the Trust where
permitted by applicable law or regulation and consistent with customary servicing procedures, and otherwise, in the name of
the Trustee or its nominee on behalf of the Certificateholders and, if applicable, on behalf of the related Companion
Holders, in the case of a Serviced Companion Loan. REO Property with respect to a Non-Serviced Mortgage Loan is excluded for
all purposes of this Section 3.14. Each Special Servicer, on behalf of the Trust and, if applicable, the related
Serviced Companion Noteholder, shall sell any REO Property prior to the close of the third calendar year following the year
in which the Trust acquires ownership of such REO Property, within the meaning of Treasury Regulations Section 1.856-6(b)(1),
for purposes of Section 860G(a)(8) of the Code, unless such Special Servicer either (i) applies for an extension of time no
later than sixty (60) days prior to the close of the third calendar year in which it acquired ownership (or the period
provided in the then applicable REMIC Provisions) and such extension is granted or is not denied (an
“REO Extension”) by the Internal Revenue Service to sell such REO Property or (ii) obtains for the

 

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Trustee, the Certificate Administrator an Opinion of Counsel, addressed to the Trustee, the
Certificate Administrator, to the effect that the holding by the Trust of such REO Property subsequent to the close of the third
calendar year following the year in which acquisition occurred will not cause an Adverse REMIC Event to occur. If the applicable
Special Servicer is granted or not denied the REO Extension contemplated by clause (i) of the immediately preceding sentence
or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, such Special Servicer
shall sell such REO Property within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the
case may be. Any expense incurred by a Special Servicer in connection with its being granted the REO Extension contemplated by
clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of
the second preceding sentence, shall be an expense of the Trust payable out of the Collection Account pursuant to Section 3.05(a).

 

(b)       Each
Special Servicer shall segregate and hold all funds collected and received in connection with any REO Property separate and apart
from its own funds and general assets. If an REO Acquisition shall occur, the applicable Special Servicer shall establish and maintain
one or more REO Accounts, held on behalf of the Trustee for the benefit of the Certificateholders and, if applicable, on behalf
of any related Companion Holder(s), as applicable, as their interest shall appear, and the Trustee (as holder of the Lower-Tier
Regular Interests), for the retention of revenues and other proceeds derived from each REO Property. The REO Account shall be an
Eligible Account. The applicable Special Servicer shall deposit, or cause to be deposited, in the applicable REO Account, within
one (1) Business Day after receipt of properly identified funds, all REO Revenues, Insurance and Condemnation Proceeds and Liquidation
Proceeds received in respect of an REO Property. Funds in the REO Account may be invested in Permitted Investments in accordance
with Section 3.06. The applicable Special Servicer shall give notice to the Trustee, the Certificate Administrator, and
the Master Servicer of the location of the applicable REO Account when first established and of the new location of the applicable
REO Account prior to any change thereof.

 

(c)       The
applicable Special Servicer shall withdraw from the applicable REO Account funds necessary for the proper operation, management,
insuring, leasing, maintenance and disposition of any REO Property, but only to the extent of amounts on deposit in the applicable
REO Account relating to such REO Property. On the later of the date that is (x) on or prior to each Determination Date or (y) 2
Business Days after such amounts are received and properly identified and determined to be available (or with respect to a Serviced
Companion Loan, on the Business Day preceding each Serviced Whole Loan Remittance Date), the applicable Special Servicer shall
withdraw from the applicable REO Account and remit to the Master Servicer, which shall deposit into the Collection Account (or
the Serviced Whole Loan Custodial Account, as applicable), the aggregate of all amounts received in respect of each REO Property
during the most recently ended Collection Period, net of (i) any withdrawals made out of such amounts pursuant to the preceding
sentence and (ii) Net Investment Earnings on amounts on deposit in the applicable REO Account; provided, however,
that the applicable Special Servicer may retain in such REO Account, in accordance with the Servicing Standard, such portion of
such balance as may be necessary to maintain a reasonable reserve for repairs, replacements, leasing, management and tenant improvements
and other related expenses for the related REO Property. In addition, on the later of the date that is (x) on or prior to each
Determination Date or (y) 2 Business Days after such amounts are received and properly

 

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identified and determined to be available
(or with respect to a Serviced Companion Loan, on the Business Day preceding each Serviced Whole Loan Remittance Date), the applicable
Special Servicer shall provide the Master Servicer with a written accounting of amounts remitted to the Master Servicer for deposit
in the Collection Account, as applicable, on such date. The Master Servicer shall apply all such amounts as instructed by such
Special Servicer on the day the Master Servicer receives the written accounting as provided in the previous sentence.

 

(d)       The
applicable Special Servicer shall keep and maintain separate records, on a property-by-property basis, for the purpose of accounting
for all deposits to, and withdrawals from, the applicable REO Account pursuant to Section 3.14(b) or Section 3.14(c).

 

(e)       With
respect to a Trust Subordinate Companion Loan, references to actions being taken for the benefit of such Trust Subordinate Companion
Loan in this Section 3.14 shall be deemed to be taken also for the benefit of the Holders of the related Loan-Specific Certificates,
as beneficial owners of such Trust Subordinate Companion Loan.

 

Section
3.15     Management of REO Property. (a) If title to any REO Property is acquired, the
applicable Special Servicer shall manage, consent, protect, operate and lease such REO Property (other than any Non-Serviced
Mortgaged Property) for the benefit of the Certificateholders and the related Companion Holders, and the Trustee (as holder
of the Lower-Tier Regular Interests and the Trust Subordinate Companion Loan REMIC Regular Interests) solely for the purpose
of its timely disposition and sale in a manner that does not cause such REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code or result in the receipt by the Trust or any Serviced
Companion Noteholder of any “income from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the
Code or result in an Adverse REMIC Event. Subject to the foregoing, however, the applicable Special Servicer shall have full
power and authority to do any and all things in connection therewith as are in the best interests of and for the benefit of
the Certificateholders (and, in the case of each Serviced Whole Loan, the related Companion Holder(s)) and the Trustee (as
holder of the Lower-Tier Regular Interests and the Trust Subordinate Companion Loan REMIC Regular Interests) all as a
collective whole (taking into account the subordinate or pari passu nature of any Companion Loan, as the case may be)
(as determined by the applicable Special Servicer in its reasonable judgment in accordance with the Servicing
Standard). Notwithstanding anything to the contrary herein, REO Property with respect to a Non-Serviced Mortgage Loan is
excluded for all purposes of this Section 3.15. Subject to this Section 3.15, the applicable Special Servicer
may allow the Trust or any commercial mortgage securitization that holds any Serviced Companion Loan to earn “net
income from foreclosure property” within the meaning of Section 860G(d) of the Code if it determines that earning such
income is in the best interests of Certificateholders and, if applicable, any related Companion Holder(s) on a net after-tax
basis as compared with net leasing such REO Property or operating such REO Property on a different basis. In connection
therewith, the applicable Special Servicer shall deposit or cause to be deposited on a daily basis (and in no event later
than one (1) Business Day following receipt of such properly identified funds) in the applicable REO Account all revenues
received by it with respect to each REO Property and the related REO Loan, and shall withdraw from the applicable REO
Account, to the extent of amounts on deposit therein with respect to such REO Property, funds necessary for the

 

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proper
operation, management, leasing and maintenance of such REO Property, including, without limitation:

 

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

 

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

 

(iii)     any
ground rents in respect of such REO Property, if applicable; and

 

(iv)     all
costs and expenses necessary to maintain and lease such REO Property.

 

To the extent that amounts
on deposit in the applicable REO Account in respect of any REO Property are insufficient for the purposes set forth in clauses
(i) through (iv) above with respect to such REO Property, the Master Servicer (subject to receiving notice from the
applicable Special Servicer in accordance with the procedures set forth elsewhere in this Agreement) shall advance from its own
funds such amount as is necessary for such purposes unless (as evidenced by an Officer’s Certificate delivered to the Trustee,
the applicable Special Servicer, the Depositor, the Certificate Administrator and (in respect of any Mortgage Loan other than an
Excluded Loan or Trust Subordinate Companion Loan, and prior to the occurrence of a Consultation Termination Event) the Directing
Holder) such advances would, if made, constitute Nonrecoverable Property Protection Advances.

 

(b)       Without
limiting the generality of the foregoing, each Special Servicer shall not:

 

(i)        permit
the Trust to enter into, renew or extend any New Lease with respect to any REO Property, if the New Lease by its terms will give
rise to any income that does not constitute Rents from Real Property;

 

(ii)       permit
any amount to be received or accrued under any New Lease other than amounts that will constitute Rents from Real Property;

 

(iii)      authorize
or permit any construction on any REO Property, other than the completion of a building or other improvement thereon, and then
only if more than 10% of the construction of such building or other improvement was completed before default on the related Mortgage
Loan or Trust Subordinate Companion Loan, if applicable, became imminent, all within the meaning of Section 856(e)(4)(B) of the
Code; or

 

(iv)      Directly
Operate, or allow any other Person, other than an Independent Contractor, to Directly Operate, any REO Property on any date more
than ninety (90) days after its acquisition date;

 

unless, in any such case, the applicable
Special Servicer has obtained an Opinion of Counsel (the cost of which shall be paid by the Master Servicer as a Property Protection
Advance) to the effect that such action will not cause such REO Property to fail to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code at any time that it is held for the

 

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benefit of the Trust, in which case the
applicable Special Servicer may take such actions as are specified in such Opinion of Counsel.

 

(c)       Each
Special Servicer shall contract with any Independent Contractor for the operation and management of any REO Property within ninety
(90) days of the acquisition date thereof, provided that:

 

(i)       the
terms and conditions of any such contract may not be inconsistent herewith and shall reflect an agreement reached at arm’s
length;

 

(ii)      the
fees of such Independent Contractor (which shall be an expense of the Trust) shall be reasonable and customary in light of the
nature and locality of the Mortgaged Property;

 

(iii)     any
such contract shall require, or shall be administered to require, that the Independent Contractor (A) pay all costs and expenses
incurred in connection with the operation and management of such REO Property, including, without limitation, those listed in subsection
(a) hereof, and (B) remit all related revenues collected (net of its fees and such costs and expenses) to the applicable Special
Servicer upon receipt;

 

(iv)     none
of the provisions of this Section 3.15(c) relating to any such contract or to actions taken through any such Independent
Contractor shall be deemed to relieve the applicable Special Servicer of any of its duties and obligations hereunder with respect
to the operation and management of any such REO Property; and

 

(v)      each
Special Servicer shall be obligated to manage and supervise such Independent Contractor in accordance with the Servicing Standard.

 

Each Special Servicer
shall be entitled to enter into any agreement with any Independent Contractor performing services for it related to its duties
and obligations hereunder for indemnification of the applicable Special Servicer by such Independent Contractor, and nothing in
this Agreement shall be deemed to limit or modify such indemnification.

 

(d)       When
and as necessary, each Special Servicer shall send to the Trustee, the Certificate Administrator and the Master Servicer a statement
prepared by such Special Servicer setting forth the amount of net income or net loss, as determined for federal income tax purposes,
resulting from the operation and management of a trade or business on, the furnishing or rendering of a non-customary service to
the tenants of, or the receipt of any other amount not constituting Rents from Real Property in respect of, any REO Property in
accordance with Sections 3.15(a) and 3.15(b).

 

Section
3.16     Sale of Defaulted Mortgage Loans and REO Properties. (a) (i) Within thirty (30) days
after a Defaulted Mortgage Loan has become a Specially Serviced Mortgage Loan, the applicable Special Servicer shall order
(but shall not be required to have received) an Appraisal and within thirty (30) days of receipt of the Appraisal shall
determine the fair value of such Defaulted Mortgage Loan in accordance with the Servicing Standard; provided, however,
that if the applicable Special Servicer is then in the process of obtaining an Appraisal with respect to the related
Mortgaged Property, such Special Servicer shall make its

 

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fair value determination as soon as reasonably practicable (but in
any event within thirty (30) days) after its receipt of such an Appraisal. The applicable Special Servicer may, from time to
time, adjust its fair value determination based upon changed circumstances, new information and other relevant factors, in
each instance in accordance with a review of such circumstances and new information in accordance with the Servicing
Standard; provided that the applicable Special Servicer shall promptly notify the Master Servicer in writing of the
initial fair value determination and any adjustment to its fair value determination.

 

(ii)       If
any Mortgage Loan and Serviced Companion Loan subject to a Co-Lender Agreement is a Specially Serviced Mortgage Loan or to the
extent otherwise required pursuant to the terms of the related Co-Lender Agreement, then the applicable Special Servicer (with
respect to a Specially Serviced Mortgage Loan) or the Master Servicer (with respect to a Non-Specially Serviced Mortgage Loan)
shall promptly notify in writing the other, any related Companion Holder and any related mezzanine lender, as applicable, of any
events requiring notice under the Co-Lender Agreement in accordance with the terms thereof. Thereafter, any related Companion Holder
and related mezzanine lender, as applicable, will, notwithstanding anything in this Section 3.16 to the contrary, have the
option to purchase the related Mortgage Loan and cure defaults relating thereto as and to the extent set forth in the related Co-Lender
Agreement.

 

(iii)       If
any Mortgage Loan not subject to a Co-Lender Agreement becomes a Specially Serviced Mortgage Loan, or if the related Companion
Holder or related mezzanine lender, as applicable, for any such Mortgage Loan subject to a Co-Lender Agreement has not previously
exercised the option to purchase the Mortgage Loan pursuant to the previous paragraph, the applicable Special Servicer shall use
reasonable efforts to solicit offers for each Defaulted Mortgage Loan on behalf of the Certificateholders and the holder of any
related Serviced Pari Passu Companion Loan in such manner as will be reasonably likely to maximize the value of the Defaulted Mortgage
Loan on a net present value basis, if and when the applicable Special Servicer determines, in accordance with the Servicing Standard,
that no satisfactory arrangements (including by way of a discounted pay-off) can be made for collection of delinquent payments
thereon and such a sale would be in the best economic interests of the Certificateholders (including the holders of the Loan-Specific
Certificates) or, in the case of a Serviced Pari Passu Whole Loan, Certificateholders and any holder of a related Serviced Pari
Passu Companion Loan (as a collective whole as if such Certificateholders and Serviced Pari Passu Companion Loan holder constituted
a single lender, taking into account the pari passu or subordinate nature of any related Companion Loan) and, if applicable,
the related Companion Holder. In the case of the Non-Serviced Mortgage Loan, under certain limited circumstances permitted under
the related Co-Lender Agreement, to the extent that such Non-Serviced Mortgage Loan is not sold together with the Non-Serviced
Companion Loan by the applicable Special Servicer for the Non-Serviced Whole Loan, the applicable Special Servicer will be entitled
to sell (with the consent of the Controlling Class Representative if no Control Termination Event has occurred and is continuing
and such Non-Serviced Mortgage Loan is not an Excluded Loan) such Non-Serviced Mortgage Loan if it determines in accordance with
the Servicing Standard that such action would be in the best interests of the Certificateholders, each Special Servicer is required
to give the Trustee, the Certificate

 

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Administrator, the Master Servicer, the Operating Advisor, any related Companion Holder and
(other than in respect of any Excluded Loan) the Controlling Class Representative not less than ten (10) days’ prior written
notice of its intention to sell any Specially Serviced Mortgage Loan, in which case the applicable Special Servicer is required
to accept the highest offer received from any person for such Specially Serviced Mortgage Loan in an amount at least equal to the
Purchase Price or, at its option, if it has received no offer at least equal to the Purchase Price therefor, purchase such Specially
Serviced Mortgage Loan at such Purchase Price.

 

(iv)       (A)
In the case of a Specially Serviced Mortgage Loan as to which a default has occurred and is continuing, in the absence of any offer
at least equal to the Purchase Price pursuant to clause (iii) above (or purchase by the applicable Special Servicer for
such price), the applicable Special Servicer shall, subject to subclause (B) below, accept the highest offer received from
any Person that is determined by the applicable Special Servicer to be a fair price for such Specially Serviced Mortgage Loan,
if the highest offeror is a Person other than an Interested Person. If the highest offeror is an Interested Person, the Trustee,
subject to any additional conditions in an applicable Co-Lender Agreement, (based upon updated Appraisals ordered by the applicable
Special Servicer and received by the Trustee (or ordered by the Trustee if the applicable Special Servicer or any of its Affiliates
is an Interested Person)) shall determine the fair price; provided, however, that no offer from an Interested Person
will constitute a fair price unless (A) it is the highest offer received and (B) if the offer is less than the applicable Purchase
Price, at least two other offers are received from independent third parties, and any such determination by the Trustee shall be
binding upon all parties. The Trustee shall act in a commercially reasonable manner in making such determination. In determining
whether any offer received from an Interested Person represents a fair price for any such Defaulted Mortgage Loan, the Trustee
shall be supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with this Agreement
within the preceding 9-month period or, in the absence of any such Appraisal, on a new Appraisal. Except as provided in the following
paragraph, the cost of any Appraisal will be covered by, and will be reimbursable as, a Property Protection Advance by the Master
Servicer. If the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair price, the Trustee
may (at its option and at the expense of the Interested Person) designate an independent third party expert in real estate or commercial
mortgage loan matters with at least 5 years’ experience in valuing or investing in loans similar to the subject Mortgage
Loan or Trust Subordinate Companion Loan, that has been selected with reasonable care by the Trustee to determine if such cash
offer constitutes a fair price for such Mortgage Loan or Trust Subordinate Companion Loan. If the Trustee designates such a third
party to make such determination, the Trustee shall be entitled to rely conclusively upon such third 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 paid in advance of any such determination, from the offering Interested Person and the
applicable Special Servicer shall use efforts consistent with the Servicing Standard to collect payment from such Interested Person.
If such expense is not paid by the applicable Interested Person within thirty (30) days of demand for payment, such expense shall
be reimbursable to the Trustee by the Master Servicer as a Property Protection

 

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Advance but the applicable Special Servicer shall
continue to use efforts consistent with the Servicing Standard to collect such amounts from the applicable Interested Person. Neither
the Trustee, in its individual capacity, nor any of its Affiliates may make an offer for or purchase any Specially Serviced Mortgage
Loan.

 

(B)       The
applicable Special Servicer will not be obligated to accept the highest offer if the applicable Special Servicer determines (with
respect to any Mortgage Loan other than an Excluded Loan or Trust Subordinate Companion Loan, in consultation with the Directing
Holder (unless a Consultation Termination Event shall have occurred and be continuing) and, in the case of a Serviced Whole Loan
or an REO Property related to a Serviced Whole Loan, the related Companion Holder), in accordance with the Servicing Standard (and
subject to the requirements of any related Co-Lender Agreement), that the rejection of such offer would be in the best interests
of the Certificateholders (including the holders of the Loan-Specific Certificates) and, in the case of a sale of a Serviced Pari
Passu Whole Loan or an REO Property related to a Serviced Pari Passu Whole Loan, and any holder of a related Serviced Pari Passu
Companion Loan (as a collective whole as if such Certificateholders and Serviced Pari Passu Companion Loan holder constituted a
single lender, taking into account the pari passu or subordinate nature of any related Companion Loan) and, if applicable,
the related Companion Holder. In addition, the applicable Special Servicer may accept a lower offer if it determines, in accordance
with the Servicing Standard (and subject to the requirements of any related Co-Lender Agreement), that the acceptance of such offer
would be in the best interests of the Certificateholders (including the holders of the Loan-Specific Certificates) and, in the
case of a sale of a Serviced Pari Passu Whole Loan or an REO Property related to a Serviced Pari Passu Whole Loan, and any holder
of a related Serviced Pari Passu Companion Loan (as a collective whole as if such Certificateholders and Serviced Pari Passu Companion
Loan holder constituted a single lender, taking into account the pari passu or subordinate nature of any related Companion
Loan) and, if applicable, the related Companion Holder (for example, if the prospective buyer making the lower offer is more likely
to perform its obligations, or the terms offered by the prospective buyer making the lower offer are more favorable); provided
that the offeror is not the applicable Special Servicer or a Person that is an Affiliate of such Special Servicer. The applicable
Special Servicer shall use reasonable efforts to sell all Specially Serviced Mortgage Loans prior to the Rated Final Distribution
Date. For the avoidance of doubt, the Trustee shall have no obligation to make any fair value determination, to the extent required
to do so pursuant to this Section 3.16, on the basis of anything other than the related Appraisal.

 

(v)       Unless
and until any Specially Serviced Mortgage Loan is sold pursuant to this Section 3.16(a), the applicable Special Servicer
shall pursue such other resolution strategies with respect to such Specially Serviced Mortgage Loan, including, without limitation,
workout and foreclosure, as the applicable Special Servicer may deem

 

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appropriate, consistent with the Asset Status Report and the
Servicing Standard and the REMIC Provisions.

 

(b)       (i)
(A) The applicable Special Servicer may purchase any REO Property at the Purchase Price therefor (in the case of a Serviced Whole
Loan, such purchase shall be a purchase of the entire REO Property, including the portion relating to the related Companion Loan).
The applicable Special Servicer may also offer to sell to any Person any REO Property (in the case of a Serviced Whole Loan, such
sale shall be a sale of the entire REO Property, including the portion relating to the related Companion Loan), if and when the
applicable Special Servicer determines, consistent with the Servicing Standard, that such a sale would be in the best economic
interest of the Trust and the related Companion Holders. Each Special Servicer shall give the Trustee, the Master Servicer, each
Companion Holder, the Certificate Administrator and, in respect of any Mortgage Loan other than an Excluded Loan and prior to the
occurrence of a Consultation Termination Event, the Directing Holder, not less than ten (10) days’ prior written notice of
the Purchase Price and its intention to (i) purchase any REO Property at the Purchase Price therefor or (ii) sell any REO Property,
in which case such Special Servicer shall accept the highest offer received from any Person for any REO Property in an amount at
least equal to the Purchase Price therefor. To the extent permitted by applicable law, and subject to the Servicing Standard, the
Master Servicer, an Affiliate of the Master Servicer, the applicable Special Servicer or an Affiliate of such Special Servicer,
or an employee of either of them may act as broker in connection with the sale of any REO Property and may retain from the proceeds
of such sale a brokerage commission that does not exceed the commission that would have been earned by an independent broker pursuant
to a brokerage agreement entered into at arm’s length.

 

(B)       In
the absence of any such offer as set forth in subclause (A) above, the applicable Special Servicer shall, subject to subclause
(C) below, accept the highest offer for such REO Property received from any Person that is determined to be a fair price (1)
by such Special Servicer, if the highest offeror is a Person other than an Interested Person, or (2) by the Trustee, if the highest
offeror is an Interested Person; provided, however, that no offer from an Interested Person will constitute a fair
price unless (A) it is the highest offer received and (B) if the offer is less than the applicable Purchase Price ,at least two
other offers are received from independent third parties. Notwithstanding anything to the contrary herein, neither the Trustee,
in its individual capacity, nor any of its Affiliates may make an offer for or purchase any REO Property pursuant hereto.

 

(C)       No
Special Servicer shall be obligated by either of the foregoing paragraphs or otherwise to accept the highest offer if such Special
Servicer determines, in accordance with the Servicing Standard, that rejection of such offer would be in the best interests of
the Certificateholders and, with respect to any Serviced Whole Loan, the related Companion Holder, in either case, as a collective
whole (taking into account the subordinate or pari passu nature of any Serviced Companion Loans). In addition, such Special
Servicer may accept a lower offer if it determines, in accordance with the Servicing Standard, that acceptance of such offer would
be in the best interests of the Certificateholders and, with respect to any Serviced Whole Loan, the related

 

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Companion Holder,
in either case, as a collective whole (taking into account the subordinate or pari passu nature of any Serviced Companion
Loans) (for example, if the prospective buyer making the lower offer is more likely to perform its obligations, or the terms offered
by the prospective buyer making the lower offer are more favorable); provided that the offeror is not the applicable Special
Servicer or a Person that is an Affiliate of such Special Servicer.

 

(D)       In
determining whether any offer received from an Interested Person represents a fair price for any REO Property, the Trustee shall
obtain and may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate matters
retained by the Trustee in connection with making such determination. The reasonable cost of such Independent appraiser or other
Independent expert shall be an expense of the offering Interested Person purchaser. The reasonable fees and 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 and the applicable Special Servicer shall use efforts consistent with the Servicing Standard
to collect payment from such Interested Person. If such expense is not paid by the applicable Interested Person within thirty (30)
days of demand for payment, such expense shall be reimbursable to the Trustee by the Master Servicer as a Property Protection Advance
but the applicable Special Servicer shall continue to use efforts consistent with the Servicing Standard to collect such amounts
from the applicable Interested Person. In determining whether any offer constitutes a fair price for any REO Property, the applicable
Special Servicer or the Trustee (or, if applicable, such appraiser) shall take into account, and any appraiser or other expert
in real estate matters shall be instructed to take into account, as applicable, among other factors, the physical condition of
such REO Property, the state of the local economy and the Trust’s obligation to comply with REMIC Provisions.

 

(ii)       Subject
to the Servicing Standard, the applicable Special Servicer shall act on behalf of the Trust and the related Companion Holders,
in negotiating and taking any other action necessary or appropriate in connection with the sale of any REO Property, including
the collection of all amounts payable in connection therewith. A sale of any REO Property shall be without recourse to, or representation
or warranty by, the Trustee, the Depositor, the Master Servicer, the applicable Special Servicer, the Certificate Administrator,
the Operating Advisor or the Trust (except that any contract of sale and assignment and conveyance documents may contain customary
warranties of title, so long as the only recourse for breach thereof is to the Trust) and, if consummated in accordance with the
terms of this Agreement, none of the Master Servicer, the Special Servicers, the Depositor, the Certificate Administrator, the
Operating Advisor nor the Trustee shall have any liability to the Trust or any Certificateholder or related Companion Holder (if
applicable) with respect to the purchase price therefor accepted by the applicable Special Servicer or the Trustee.

 

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(c)       Any
sale of a Defaulted Mortgage Loan or any REO Property shall be for cash only (unless changes in the REMIC Provisions or authoritative
interpretations thereof made or issued subsequent to the Startup Day allow a sale for other consideration).

 

(d)       With
respect to each Serviced Pari Passu Whole Loan, pursuant to the terms of the related Co-Lender Agreement and this Agreement, if
the related Serviced Pari Passu Whole Loan becomes a defaulted loan, and if the applicable Special Servicer determines to sell
the related Mortgage Loan that has become a Defaulted Mortgage Loan in accordance with this Section 3.16, then the applicable
Special Servicer shall sell the related Serviced Pari Passu Companion Loan (and, in the case of the AMA Plaza Whole Loan and 225
Bush Street Whole Loan, the related Trust Subordinate Companion Loan) together with such Mortgage Loan as one whole loan and shall
require that all offers be submitted to the applicable Special Servicer in writing. To the extent a determination is required to
be made hereunder as to whether any cash offer constitutes a fair price for the Serviced Whole Loan, such determination shall be
made by the Trustee if the offeror is an Interested Person. Notwithstanding the foregoing, the applicable Special Servicer will
not be permitted to sell the related Mortgage Loan together with the related Serviced Pari Passu Companion Loan(s) if it becomes
a defaulted Whole Loan without the written consent of the holder of the related Serviced Pari Passu Companion Loan (provided
that such consent is not required if the holder of the Serviced Pari Passu Companion Loan is the Mortgagor or an affiliate of the
Mortgagor) unless the applicable Special Servicer has delivered to the holder of the related Serviced Pari Passu Companion Loan:
(a) at least fifteen (15) Business Days prior written notice of any decision to attempt to sell such Serviced Whole Loan; (b) at
least ten (10) days prior to the permitted sale date, a copy of each bid package (together with any material amendments to such
bid packages) received by the applicable Special Servicer in connection with any such proposed sale; (c) at least ten (10) days
prior to the proposed sale date, a copy of the most recent appraisal for such Serviced Pari Passu Whole Loan, and any documents
in the servicing file reasonably requested by the holder of the related Serviced Pari Passu Companion Loan that are material to
the sale price of the Serviced Pari Passu Whole 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 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 applicable Special Servicer in connection with the proposed sale. The holder of the related Serviced Pari Passu
Companion Loan (or its representative) will be permitted to submit an offer at any sale of such Whole Loan; however, the
related Mortgagor and its agents and Affiliates shall not be permitted to submit an offer at such sale. Notwithstanding the foregoing,
with respect to each Serviced Whole Loan, the holder of the related Companion Loan may waive any of the delivery or timing requirements
set forth in this paragraph with respect to the related Whole Loan. 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
5 years’ experience in valuing or investing in loans similar to the subject Mortgage Loan, that has been selected with reasonable
care by the Trustee to determine if such cash offer constitutes a fair price for such Mortgage Loan. The Trustee shall act in a
commercially reasonable manner in making such determination. If the Trustee designates such a third party to make such determination,
the Trustee shall be entitled to rely conclusively upon such third party’s determination. The reasonable fees of, and the
costs of all appraisals, inspection reports and

 

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broker opinions of value incurred by any such third party shall be covered by,
and shall be paid in advance of any such determination by the Interested Person and the applicable Special Servicer shall use efforts
consistent with the Servicing Standard to collect payment from such Interested Person.

 

(e)       (i)
Notwithstanding anything in this Section 3.16 to the contrary, (A) pursuant to the terms of the related Co-Lender Agreement,
the holder of the related Non-Trust Subordinate Companion Loan for the applicable Serviced AB Whole Loan and (B) pursuant to Section
3.32 herein, the Holder of the Non-Trust Subordinate Companion Loan only will have the right to purchase the related Mortgage
Loan or related REO Property, as applicable. Such right of the holder of the Non-Trust Subordinate Companion Loan shall be given
priority over any provision described in this Section 3.16 as and to the extent set forth in the related Co-Lender Agreement.
If the related Mortgage Loan or related REO Property is purchased by the holder of such Non-Trust Subordinate Companion Loan, repurchased
by the Mortgage Loan Seller or otherwise ceases to be subject to this Agreement, the related Non-Trust Subordinate Companion Loan
will no longer be subject to this Agreement. In addition, pursuant to the terms of the related Co-Lender Agreement, any sale of
a Serviced AB Whole Loan that is a Defaulted Mortgage Loan or Specially Serviced Mortgage Loan pursuant to this Section 3.16
(other than in connection with the purchase of the applicable Serviced AB Whole Loan by the related Non-Trust Subordinate Companion
Loan) shall not include any related Non-Trust Subordinate Companion Loan. As a result, any reference in this Section 3.16
to the sale, or determination of fair value, of a Serviced AB Whole Loan that is a Defaulted Mortgage Loan or Specially Serviced
Mortgage Loan (other than in connection with the purchase of the applicable Serviced AB Whole Loan by the related Non-Trust Subordinate
Companion Loan) shall be deemed to exclude any related Non-Trust Subordinate Companion Loan.

 

(ii)       Notwithstanding
anything in this Section 3.16 to the contrary, any mezzanine lender will have the right to purchase the related Mortgage
Loan or REO Property, as applicable, and cure defaults relating thereto, as and to the extent set forth in the related Co-Lender
Agreement.

 

(f)       Unless
otherwise provided in a Co-Lender Agreement the sale of any Mortgage Loan pursuant to this Section 3.16 will be on a servicing
released basis.

 

(g)       In
the event the Master Servicer or the applicable Special Servicer has the right to purchase any Companion Loan on behalf of the
Trust pursuant to the related Co-Lender Agreement, neither the Master Servicer nor such Special Servicer shall exercise such right.

 

Section
3.17     Additional Obligations of Master Servicer and Special Servicers. (a) The Master
Servicer shall deliver all Compensating Interest Payments (other than the portion of any Compensating Interest Payment
allocated to a Serviced Pari Passu Companion Loan or Trust Subordinate Companion Loan) to the Certificate Administrator for
deposit in the Lower-Tier REMIC Distribution Account on each Master Servicer Remittance Date, without any right of
reimbursement therefor. The Master Servicer shall deliver the portion of any Compensating Interest Payment allocated to a
Serviced Pari Passu Companion Loan to the Companion Paying Agent for deposit in the Serviced Whole Loan Custodial Account on
each Master Servicer Remittance Date, without any right of reimbursement therefor. The Master

 

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Servicer shall deliver the
portion of any Compensating Interest Payment allocated to the Trust Subordinate Companion Loans to the
Certificate Administrator for deposit in the applicable Trust Subordinate Companion Loan REMIC Distribution Account on each
Master Servicer Remittance Date, without any right of reimbursement therefor.

 

(b)       The
Master Servicer or each Special Servicer, as applicable, shall provide to each Companion Holder any reports or notices required
to be delivered to such Companion Holder pursuant to the related Co-Lender Agreement and the Master Servicer or applicable Special
Servicer, as applicable, shall provide to the related Loan-Specific Directing Holder any reports or notices required to be delivered
to the holder of a Trust Subordinate Companion Loan or holder of a Non- Trust Subordinate Companion Loan, as applicable, pursuant
to the related Co-Lender Agreement

 

(c)       Upon
the determination that a previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would
exceed the full amount of the principal portion of general collections on the Mortgage Loans, and with respect to P&I Advances
on the Trust Subordinate Companion Loan, would exceed the full amount of the principal portion of general collections allocated
to the Trust Subordinate Companion Loan, deposited in the Collection Account and available for distribution on the next Distribution
Date, the Master Servicer or the Trustee, each at its own option and in its sole discretion, as applicable, instead of obtaining
reimbursement for the remaining amount of such Nonrecoverable Advance pursuant to Section 3.05(a)(v) immediately, as an
accommodation may elect to refrain from obtaining such reimbursement for such portion of the Nonrecoverable Advance during the
one month collection period ending on the then-current Determination Date, for successive one-month periods for a total period
not to exceed twelve (12) months (provided that, with respect to any Mortgage Loan other than an Excluded Loan, any such
deferral exceeding six (6) months shall require, prior to the occurrence and continuance of any Control Termination Event, the
consent of the Directing Holder), and any election to so defer or not to defer shall be deemed to be in accordance with the Servicing
Standard. If the Master Servicer or the Trustee makes such an election at its sole option and in its sole discretion to defer reimbursement
with respect to all or a portion of a Nonrecoverable Advance (together with interest thereon), then such Nonrecoverable Advance
(together with interest thereon) or portion thereof shall continue to be fully reimbursable in the subsequent collection period
(subject, again, to the same sole option to defer; it is acknowledged that, in such a subsequent period, such Nonrecoverable Advance
shall again be payable first from principal collections as described above prior to payment from other collections). In
connection with a potential election by the Master Servicer or the Trustee to refrain from the reimbursement of a particular Nonrecoverable
Advance or portion thereof during the one month collection period ending on the related Determination Date for any Distribution
Date, the Master Servicer or the Trustee shall further be authorized to wait for principal collections on the Mortgage Loans or
the Trust Subordinate Companion Loans, as applicable, to be received until the end of such collection period before making its
determination of whether to refrain from the reimbursement of a particular Nonrecoverable Advance or portion thereof); provided,
however, that if, at any time the Master Servicer or the Trustee, as applicable, elects, in its sole discretion, not to
refrain from obtaining such reimbursement or otherwise determines that the reimbursement of a Nonrecoverable Advance during a one-month
collection period will exceed the full amount of the principal portion of general collections deposited in the Collection Account
for such Distribution Date, then the Master Servicer or the Trustee, as

 

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applicable, shall use its reasonable efforts to give the
17g-5 Information Provider fifteen (15) days’ notice of such determination for posting on the 17g-5 Information Provider’s
Website pursuant to Section 3.13(c), unless extraordinary circumstances make such notice impractical, and thereafter shall
deliver such notice to the 17g-5 Information Provider as soon as practical thereafter. Notwithstanding the foregoing, failure to
give notice as required by the preceding sentence shall in no way affect the Master Servicer’s or the Trustee’s election
whether to refrain from obtaining such reimbursement as described in this Section 3.17(c). Nothing herein shall give the
Master Servicer or the Trustee the right to defer reimbursement of a Nonrecoverable Advance to the extent of any principal collections
then available in the Collection Account pursuant to Section 3.05(a)(v).

 

The foregoing shall not,
however, be construed to limit any liability that may otherwise be imposed on such Person for any failure by such Person to comply
with the conditions to making such an election under this section or to comply with the terms of this section and the other provisions
of this Agreement that apply once such an election, if any, has been made; provided, however, that the fact that
a decision to recover such Nonrecoverable Advances over time, or not to do so, benefits some classes of Certificateholders to the
detriment of other classes shall not, with respect to the Master Servicer or the applicable Special Servicer, as applicable, constitute
a violation of the Servicing Standard and/or with respect to the Trustee (solely in its capacity as Trustee), constitute a violation
of any fiduciary duty to Certificateholders or any contractual obligation hereunder. If the Master Servicer or the Trustee, as
applicable, determines, in its sole discretion, that its ability to fully recover the Nonrecoverable Advances has been compromised,
then the Master Servicer or the Trustee, as applicable, shall be entitled to immediate reimbursement of Nonrecoverable Advances
with interest thereon at the Reimbursement Rate from all amounts in the Collection Account for such Distribution Date (deemed first
from principal and then interest). Any such election by any such party to refrain from reimbursing itself or obtaining reimbursement
for any Nonrecoverable Advance or portion thereof with respect to any one or more collection periods shall not limit the accrual
of interest at the Reimbursement Rate on such Nonrecoverable Advance for the period prior to the actual reimbursement of such Nonrecoverable
Advance. The Master Servicer’s or the Trustee’s, as applicable, agreement to defer reimbursement of such Nonrecoverable
Advances as set forth above is an accommodation to the Certificateholders and shall not be construed as an obligation on the part
of the Master Servicer or the Trustee, as applicable, or a right of the Certificateholders. Nothing herein shall be deemed to create
in the Certificateholders a right to prior payment of distributions over the Master Servicer’s or the Trustee’s, as
applicable, right to reimbursement for Advances (deferred or otherwise) and accrued interest thereon. In all events, the decision
to defer reimbursement or to seek immediate reimbursement of Nonrecoverable Advances shall be deemed to be in accordance with the
Servicing Standard and none of the Master Servicer, the Trustee or the other parties to this Agreement shall have any liability
to one another or to any of the Certificateholders or any of the Companion Holders for any such election that such party makes
as contemplated by this section or for any losses, damages or other adverse economic or other effects that may arise from such
an election.

 

With respect to any modification
or amendment of any Co-Lender Agreement related to a Serviced Whole Loan (to the extent received), the Master Servicer or the applicable
Special Servicer as applicable, shall provide to the 17g-5 Information Provider a copy of any

 

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such modification or amendment, which
the 17g-5 Information Provider shall promptly post on the 17g-5 Information Provider’s Website in accordance with Section
3.13(c).

 

The aggregate of any
Excess Prepayment Interest Shortfall allocated to a Trust Subordinate Companion Loan for any Distribution Date will be allocated
on such Distribution Date to the related Loan-Specific Certificates, pro rata, in accordance with each Class’s accrued
interest. Any Prepayment Interest Excess in respect of a Trust Subordinate Companion Loan shall be paid to the Master Servicer
as additional servicing compensation.

 

(d)       With
respect to any Mortgage Loan (or Serviced Whole Loan), if the related loan documents permit the lender to (but do not require the
lender to), at its option, prior to an event of default under the related Mortgage Loan (or Serviced Whole Loan), apply amounts
held in any reserve account as a prepayment or hold such amounts in a reserve account, the Master Servicer or the applicable Special
Servicer, as the case may be, may not apply such amounts as a prepayment, and will instead continue to hold such amounts in the
applicable reserve account, unless not applying those amounts as a prepayment would be a violation of the Servicing Standard. Such
amount may be used, if permitted under the loan documents, to defease the loan, or may be used to prepay the Mortgage Loan (or
Serviced Whole Loan), or for other purpose consistent with the Servicing Standard and the loan documents, upon a subsequent default.

 

Section
3.18     Modifications, Waivers, Amendments and Consents. (a) Except as set forth in Section
3.08(a), Section 3.08(b), this Section 3.18(a), Section 3.18(e), Section 3.18(i), Section
3.18(j) and Section 6.08, but subject to any other conditions set forth thereunder, (including, without
limitation, the applicable Special Servicer’s consent rights pursuant to this subsection (a) with respect to any
modification, waiver or amendment that constitutes a Special Servicer Major Decision) (i) the applicable Special Servicer
will be responsible for processing waivers, modifications, amendments and consents with respect to (a) any Specially Serviced
Mortgage Loan and (b) any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan (and with respect to
any Serviced Whole Loan, subject to the rights of the related Companion Holder, to advise or consult with the Master Servicer
or the applicable Special Servicer, as the case may be, with respect to, or to consent to, a modification, waiver or
amendment, in each case, pursuant to the terms of the related Co-Lender Agreement) with respect to which the matter involves
a Special Servicer Non-Major Decision (other than the items listed in clauses (a), (b)(A), (b)(B) and (d) of
“Special Servicer Non-Major Decision,” which the Master Servicer shall process with respect to Non-Specially
Serviced Mortgage Loans, subject to applicable Special Servicer consent or deemed consent as provided in this Agreement) or a
Special Servicer Major Decision, and (ii) the Master Servicer will be responsible for processing waivers, modifications,
amendments and consents with respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Whole Loan
that is not a Specially Serviced Mortgage Loan and does not involve a Special Servicer Major Decision or Special Servicer
Non-Major Decision (other than the items listed in clauses (a), (b)(A), (b)(B) and (d) of “Special Servicer Non-Major
Decision,” which the Master Servicer shall process, subject to applicable Special Servicer consent or deemed consent as
provided in this Agreement). Further, the Master Servicer shall not modify, waive or amend the terms of a Non-Specially
Serviced Mortgage Loan and/or Companion Loan (that constitutes a Special Servicer Major Decision) without the prior written
consent of the applicable Special Servicer (it being

 

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understood that the Master Servicer (if the Master Servicer is
recommending approval of such request) will in accordance with the Servicing Standard provide such Special Servicer with
notice of any request for such modification, waiver or amendment, the Master Servicer’s written recommendation and
analysis, and all information in the Master Servicer’s possession that may be reasonably requested by such Special
Servicer in order to grant or withhold such consent); provided that such consent shall be deemed given (unless earlier
objected to by the applicable Special Servicer) within fifteen  (15) Business Days of the applicable Special
Servicer’s receipt from the Master Servicer of the Master Servicer’s written recommendation and analysis with
respect to such modification, waiver or amendment and all information in the Master Servicer’s possession reasonably
requested by the applicable Special Servicer in order to make an informed decision with respect to such modification, waiver
or amendment; and provided, further, that no extension entered into pursuant to this Section 3.18(a)
shall extend the Maturity Date beyond the earlier of (i) five (5) years prior to the Rated Final Distribution Date and (ii)
in the case of a Mortgage Loan secured solely or primarily by a leasehold estate and not also the related fee interest, the
date twenty (20) years or, to the extent consistent with the Servicing Standard giving due consideration to the remaining
term of the Ground Lease, ten (10) years, prior to the expiration of such leasehold estate. If such extension would extend
the Maturity Date of such Mortgage Loan and/or related Companion Loan for more than twelve (12) months from and after the
original Maturity Date of such Mortgage Loan and/or related Companion Loan and such Mortgage Loan and/or related Companion
Loan is not in default or default with respect thereto is not reasonably foreseeable, prior to any such extension, the Master
Servicer shall (1) provide the Trustee, the Certificate Administrator, the applicable Special Servicer, the Operating
Advisor, each related Other Master Servicer, each related Other Trustee and ((i) prior to the occurrence of a Consultation
Termination Event and (ii) other than with respect to any Excluded Loan) the Directing Holder, with an Opinion of Counsel (at
the expense of the related Mortgagor to the extent permitted under the Mortgage Loan documents and, if not required or
permitted to be paid by the Mortgagor, to be paid as an expense of the Trust in accordance with Section 3.11(d)) that
such extension would not constitute a “significant modification” of the Mortgage Loan and/or Serviced Companion
Loan within the meaning of Treasury Regulations Section 1.860G-2(b) and (2) subject to the Servicing Standard, ((i) prior to
the occurrence and continuance of a Control Termination Event and (ii) other than with respect to an Excluded Loan)
obtain the consent of the Directing Holder (or (i) after the occurrence and during the continuance of a Control Termination
Event, but prior to a Consultation Termination Event and (ii) other than with respect to any Excluded Loan, upon consultation
with the Directing Holder pursuant to Section 6.08 hereof) (which consent or consultation shall be coordinated through
the applicable Special Servicer). Notwithstanding the foregoing, subject to the rights of the related Companion Holder to
advise the Master Servicer with respect to, or consent to, such modification, waiver or amendment pursuant to the terms of
the related Co-Lender Agreement, and subject to the applicable Special Servicer’s processing and/or consent rights
pursuant to this subsection (a) if any such modification, waiver or amendment constitutes a Special Servicer Major Decision,
the Master Servicer, with respect to Non-Specially Serviced Mortgage Loans, without the consent of the applicable Special
Servicer, may modify or amend the terms of any Mortgage Loan and/or related Serviced Companion Loan in order to (i) cure any
ambiguity or mistake therein or (ii) correct or supplement any provisions therein which may be inconsistent with any other
provisions therein or correct any error; provided that, if the Mortgage Loan (other than any Non-Serviced Mortgage
Loan) and/or related Serviced Companion Loan is not in default or default

 

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with respect thereto is not reasonably foreseeable,
such modification or amendment would not be a “significant modification” of the Mortgage Loan and/or related
Serviced Companion Loan within the meaning of Treasury Regulations Section 1.860G-2(b).

 

In addition,
subject to the next sentence, with respect to Non-Specially Serviced Mortgage Loans, the Master Servicer, prior to taking any
action with respect to any Special Servicer Major Decision (or making a determination not to take action with respect to a
Special Servicer Major Decision) and prior to taking any action with respect to a Special Servicer Non-Major Decision (or
making a determination not to take action with respect to the Special Servicer Non-Major Decision), shall refer any request
with respect to such Special Servicer Major Decision or Special Servicer Non-Major Decision to the applicable Special
Servicer and the applicable Special Servicer shall process the request directly or, if mutually agreed to by the Special
Servicer and the Master Servicer, the Master Servicer shall (subject to the consent (or deemed consent) of the Special
Servicer) process such request. If the Master Servicer and the Special Servicer mutually agree that the Master Servicer
shall, with respect to a Non-Specially Serviced Loan, (subject to the consent (or deemed consent) of the Special Servicer)
process a request with respect to a Special Servicer Major Decision or Special Servicer Non-Major Decision and the Master
Servicer is recommending approval of such request, the Master Servicer shall prepare and submit its written analysis and
recommendation to the Special Servicer with all information in the possession of the Master Servicer that the Special
Servicer may reasonably request in order to withhold or grant its consent, and in all cases the Special Servicer shall be
entitled (subject to any applicable consultation rights of the Operating Advisor or any applicable consent or consultation
rights of the Controlling Class Representative or the AMA Plaza Controlling Class Representative or the 225 Bush
Street Controlling Class Representative or any applicable consultation rights of any related Companion Loan Holder or its
Companion Loan Holder Representative (as applicable)) to approve or disapprove any modification, waiver, amendment or other
action that constitutes a Special Servicer Major Decision or Special Servicer Non-Major Decision; provided that such consent
shall be deemed given (unless earlier objected to by the applicable Special Servicer) within  fifteen (15) Business Days of
the applicable Special Servicer’s receipt from the Master Servicer of the Master Servicer’s written analysis and
recommendation with respect to such request and all information in the Master Servicer’s possession reasonably
requested by the applicable Special Servicer in order to make an informed decision with respect to such request. In addition,
the Master Servicer will be required to provide the applicable Special Servicer with any notice that it receives relating to
a default by the Mortgagor under a ground lease where the collateral for the Mortgage Loan is the ground lease, and the
applicable Special Servicer will determine in accordance with the Servicing Standard whether to cure any borrower defaults
relating to ground leases.

 

Subject to Section
6.08, applicable law and the Mortgage Loan and/or related Serviced Companion Loan documents, neither the Master Servicer nor
the applicable Special Servicer shall permit the substitution of any Mortgaged Property (or any portion thereof) for one or more
other parcels of real property at any time the Mortgage Loan and/or related Serviced Companion Loan is not in default pursuant
to the terms of the related Mortgage Loan and/or related Serviced Companion Loan documents or default with respect thereto is not
reasonably foreseeable unless (i) the Master Servicer or the applicable Special Servicer, as the case may be, obtains Rating Agency
Confirmation from each Rating Agency (and delivers such Rating Agency Confirmation to the Directing Holder, if permitted by the
applicable Rating Agency) and a confirmation of any applicable rating agencies that such action will not result in the downgrade,
withdrawal or qualification of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25)) and (ii) such substitution

 

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would not be a “significant
modification” of the Mortgage Loan and/or related Serviced Companion Loan within the meaning of Treasury Regulations Section
1.860G-2(b) or otherwise cause an Adverse REMIC Event (and the Master Servicer or the applicable Special Servicer, as the case
may be, may obtain and rely upon an Opinion of Counsel (at the expense of the related Mortgagor if not prohibited by the terms
of the related Mortgage Loan documents, and if so prohibited, at the expense of the Trust) with respect thereto).

 

Upon receiving a request
for any matter described in this Section 3.18(a) that constitutes a Special Servicer Major Decision, the Master Servicer
shall forward such request to the applicable Special Servicer and, unless the Master Servicer and the applicable Special Servicer
mutually agree that the Master Servicer will process such request in accordance with the terms and conditions reasonably agreed
to by the Master Servicer and Special Servicer, including the applicable Special Servicer’s consent, the applicable Special
Servicer will be required to process such request and the Master Servicer will have no further obligation with respect to such
request or the related Special Servicer Major Decision.

 

(c)        If
the applicable Special Servicer determines that a modification, waiver or amendment (including, without limitation, the forgiveness
or deferral of interest or principal or the substitution of collateral pursuant to the terms of the Mortgage Loan (other than any
Non-Serviced Mortgage Loan) and/or related Serviced Companion Loan or otherwise, the release of collateral or the pledge of additional
collateral) of the terms of a Specially Serviced Mortgage Loan (or any Non-Specially Serviced Loan with respect to which such determination
derives from the applicable Special Servicer’s consideration of a Special Servicer Major Decision or Special Servicer Non-Major
Decision that is subject to its processing and/or consent rights pursuant to Section 3.18(a) of this Agreement) with respect
to which a payment default or other material default has occurred or a payment default or other material default is, in the applicable
Special Servicer’s judgment, reasonably foreseeable (as evidenced by an Officer’s Certificate of such Special Servicer),
is reasonably likely to produce a greater recovery on a net present value basis (the relevant discounting to be performed at the
related Mortgage Rate) to the Trust and, if applicable, the Companion Holders, as the holders of the related Serviced Companion
Loan, than liquidation of such Specially Serviced Mortgage Loan, then the applicable Special Servicer may agree to a modification,
waiver or amendment of such Specially Serviced Mortgage Loan, subject to (x) the provisions of this Section 3.18(c) and
Section 3.18(d), (y) with respect to any Mortgage Loan or Trust Subordinate Companion Loan other than any Excluded Loan,
prior to the occurrence and continuance of a Control Termination Event, the approval of the Directing Holder (or after the occurrence
and during the continuance of a Control Termination Event, but prior to a Consultation Termination Event, upon consultation with
the Controlling Class Representative) as provided in Section 6.08; provided that with respect to any Serviced AB
Whole Loan, prior to the occurrence and continuance of a related AB Control Appraisal Period, the approval of the holder of the
related AB Subordinate Companion Loan or with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan, the related Loan-Specific
Directing Holder (prior to the related Non-Trust Subordinate Companion Loan Control Termination Event or Trust Subordinate Companion
Loan Control Termination Event, as applicable), will be required to the extent set forth in the related Co-Lender Agreement and
the Directing Holder shall have no consent or consultation rights regarding the matter; and (z) additionally, with respect to a
Serviced Whole Loan, the rights of the related Serviced Companion Noteholder or with respect to a Mortgage Loan (other than any
Non-Serviced Mortgage Loan) with mezzanine

 

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debt, the rights of the related mezzanine lender, if any, to advise or consult with
the applicable Special Servicer with respect to, or consent to, such modification, waiver or amendment, in each case, pursuant
to the terms of the related Co-Lender Agreement or mezzanine intercreditor agreement, as applicable; provided that in the
case of any release or substitution of collateral (other than a defeasance), the applicable Special Servicer shall have obtained
an Opinion of Counsel that such release or substitution would not be a “significant modification” of the Mortgage Loan
within the meaning of Treasury Regulations Section 1.860G-2(b) or otherwise cause an Adverse REMIC Event to occur. Notwithstanding
anything herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control Termination Event has occurred
and is continuing), the Master Servicer or the applicable Special Servicer, as the case may be, shall consult with the Operating
Advisor, on a non-binding basis, in connection with the related transactions involving proposed Major Decisions and consider alternative
actions recommended by the Operating Advisor, in respect thereof, in accordance with the procedures set forth in Section 6.08 for
consulting with the Operating Advisor.

 

In connection with (i)
the release of a Mortgaged Property (other than any Non-Serviced Mortgaged Property), or any portion of such Mortgaged Property
from the lien of the related Mortgage or (ii) the taking of a Mortgaged Property (other than any Non-Serviced Mortgaged Property),
or any portion of such Mortgaged Property by exercise of the power of eminent domain or condemnation, if the related Mortgage Loan
documents require the Master Servicer or the applicable Special Servicer, as the case may be, to calculate (or to approve the calculation
of the related Mortgagor of) the loan-to-value ratio of the remaining Mortgaged Property or Mortgaged Properties or the fair market
value of the real property constituting the remaining Mortgaged Property or Mortgaged Properties, for purposes of REMIC qualification
of the related Mortgage Loan, then such calculation shall, unless then permitted by the REMIC Provisions, exclude the value of
personal property and going concern value, if any, as determined by an appropriate third party.

 

The applicable Special
Servicer shall use its reasonable efforts to the extent possible to cause each Specially Serviced Mortgage Loan to fully amortize
prior to the Rated Final Distribution Date and shall not agree to a modification, waiver or amendment of any term of any Specially
Serviced Mortgage Loan if such modification, waiver or amendment would (1) extend the maturity date of any such Specially Serviced
Mortgage Loan to a date occurring later than the earlier of (a)(1) other than with respect to the AMA Plaza Whole Loan and 225
Bush Street Whole Loan, November 2049, (2) solely with respect to the AMA Plaza Whole Loan, October 2031 or (3) solely with respect
to the 225 Bush Street Whole Loan, November 2029 and (b) if such Specially Serviced Mortgage Loan is secured solely or primarily
by a leasehold estate and not also the related fee interest, the date occurring twenty (20) years or, to the extent consistent
with the Servicing Standard giving due consideration to the remaining term of the ground lease and, ((i) prior to the occurrence
and continuance of a Control Termination Event and (ii) other than with respect to any Excluded Loan) with the consent of the Directing
Holder, ten (10) years prior to the expiration of such leasehold estate (including any options to extend such leasehold estate
exercisable unilaterally by the related Mortgagor), or (2) provide for the deferral of interest unless interest accrues on the
related Mortgage Loan or Serviced Whole Loan generally at the related Mortgage Rate.

 

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(d)       Any
provision of this Section 3.18 to the contrary notwithstanding, except when a Mortgage Loan and/or Companion Loan is in
default or default with respect thereto is reasonably foreseeable, no fee described in this Section 3.18 shall be collected
by any Master Servicer or applicable Special Servicer from a Mortgagor (or on behalf of the Mortgagor) in conjunction with any
consent or any modification, waiver or amendment of a Mortgage Loan or Companion Loan, as applicable (unless the amount thereof
is specified in the related Mortgage Note) if the collection of such fee would cause such consent, modification, waiver or amendment
to be a “significant modification” of the Mortgage Note within the meaning of Treasury Regulations Section 1.860G-2(b).

 

(e)       To
the extent consistent with this Agreement (including, without limitation, the first sentence of Section 3.18(a), and Section
6.08), the Master Servicer (as provided in Section 3.08(a) and 3.08(b) and subject to the applicable Special
Servicer’s processing and/or consent rights pursuant to Section 3.20(a) or Section 3.18 if any such waiver,
modification or amendment constitutes a Special Servicer Major Decision or Special Servicer Non-Major Decisions) or the applicable
Special Servicer may, consistent with the Servicing Standard, agree to any waiver, modification or amendment of a Mortgage Loan
and/or Serviced Companion Loan that is not in default or as to which default is not reasonably foreseeable only if it provides
the Trustee and the Certificate Administrator with an Opinion of Counsel (at the expense of the related Mortgagor or such other
Person requesting such modification or, if such expense cannot be collected from the related Mortgagor or such other Person, to
be paid out of the Collection Account pursuant to Section 3.05(a); provided that the Master Servicer or the applicable
Special Servicer, as the case may be, shall use its reasonable efforts to collect such fee from the Mortgagor or such other Person
to the extent permitted under the related Mortgage Loan documents). Notwithstanding the foregoing, neither the Master Servicer
nor the applicable Special Servicer may waive the payment of any Yield Maintenance Charge or the requirement that any prepayment
of a Mortgage Loan or Trust Subordinate Companion Loan be made on a Due Date, or if not made on a Due Date, be accompanied by all
interest that would be due on the next Due Date with respect to any Mortgage Loan, Serviced Companion Loan that is not a Specially
Serviced Mortgage Loan.

 

(f)       Subject
to Section 3.18(d), the Master Servicer and the applicable Special Servicer each may, as a condition to its granting any
request by a Mortgagor for consent, modification (including extensions), waiver or indulgence or any other matter or thing, the
granting of which is within the Master Servicer’s or such Special Servicer’s, as the case may be, discretion pursuant
to the terms of the instruments evidencing or securing the related Mortgage Loan or Companion Loan and is permitted by the terms
of this Agreement, require that such Mortgagor pay to the Master Servicer or such Special Servicer, as the case may be, as additional
servicing compensation, a reasonable or customary fee, for the additional services performed in connection with such request; provided
that the charging of such fee is not a “significant modification” of the Mortgage Loan or Trust Subordinate Companion
Loan within the meaning of Treasury Regulations Section 1.860G-2(b).

 

(g)       All
modifications (including extensions), waivers and amendments of the Mortgage Loans and Companion Loans entered into pursuant to
this Section 3.18 shall be in writing, signed by the Master Servicer or the applicable Special Servicer, as the case may
be, and the related Mortgagor (and by any guarantor of the related Mortgage Loan or Trust Subordinate

 

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Companion Loan, if such guarantor’s
signature is required by the applicable Special Servicer in accordance with the Servicing Standard).

 

(h)       With
respect to any modification, waiver or amendment for which it is responsible for processing pursuant to Section 3.18 hereof,
the applicable Special Servicer shall notify the Master Servicer, the Trustee, the Certificate Administrator, the Directing Holder
(other than (i) following the occurrence of a Consultation Termination Event and (ii) with respect to any Excluded Loan), the applicable
Companion Holder (unless, with respect to the holder of a Non-Trust Subordinate Companion Loan, a Non-Trust Subordinate Companion
Loan Control Termination Event has occurred and is continuing or with respect to the holder of a Trust Subordinate Companion Loan,
a Trust Subordinate Companion Loan Control Termination Event has occurred and is continuing), the Operating Advisor and the 17g-5
Information Provider (which shall promptly post such notice on the 17g-5 Information Provider’s Website in accordance with
Section 3.13(c)) in writing of any modification, waiver or amendment (in each case, after it is finalized and executed)
of any term of any Mortgage Loan or Companion Loan that is modified, waived or amended and the date thereof. With respect to any
modification, waiver or amendment (in each case, after it is finalized and executed) for which it is responsible for processing
pursuant to Section 3.18 hereof, the Master Servicer shall provide written notice of any such modification, waiver or amendment
to the Trustee, the Certificate Administrator, the applicable Special Servicer (and such Special Servicer shall, prior to the occurrence
of a Consultation Termination Event and other than with respect to an Excluded Loan, forward such notice to the Directing Holder),
the applicable Companion Holder (unless, with respect to the holder of a Non-Trust Subordinate Companion Loan, a Non-Trust Subordinate
Companion Loan Control Termination Event has occurred and is continuing or with respect to the holder of a Trust Subordinate Companion
Loan, a Trust Subordinate Companion Loan Control Termination Event has occurred and is continuing) and the 17g-5 Information Provider
(which shall promptly post such notice on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c)).
The party responsible for delivering notice shall deliver to the Custodian with a copy to the Master Servicer (if such notice is
being delivered by the applicable Special Servicer) for deposit in the related Mortgage File, an original counterpart of the agreement
relating to such modification, waiver or amendment, promptly (and in any event within ten (10) Business Days) following the execution
thereof, with a copy to the applicable Companion Holder, if any. Following receipt of the Master Servicer’s or the applicable
Special Servicer’s, as the case may be, delivery of the aforesaid modification, waiver or amendment to the Certificate Administrator,
the Certificate Administrator shall forward a copy thereof to each Holder of a Certificate (other than the Class R Certificates)
upon request. With respect to the processing of any modification, waiver or consent related to any Mortgagor incurring additional
debt or mezzanine debt, the applicable Special Servicer (if such Special Servicer processes such modification, waiver or consent
pursuant to Section 3.18(a)) or the Master Servicer (if the Master Servicer processes such modification, waiver or consent
pursuant to Section 3.18(a)) shall, on or before the later of (i) 3:00 p.m. on the related Master Servicer Remittance Date
and (ii) five (5) Business Days immediately following the Master Servicer or the applicable Special Servicer, as the case may be,
obtaining actual knowledge of the incurrence of such additional debt or mezzanine debt, deliver notice of the Mortgagor’s
incurrence of such debt, substantially in the form of Exhibit KK, to cts.sec.notifications@wellsfargo.com. The notice contemplated
in the preceding sentence shall set forth, to the extent the applicable Special Servicer or Master Servicer, as the case may be,
has the requisite information or can reasonably obtain such information, (1) the

 

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amount of additional debt that was incurred in
the related Collection Period, (2) the total debt service coverage ratio calculated on the basis of such Mortgage Loan and additional
debt, and (3) the aggregate LTV Ratio calculated on the basis of such Mortgage Loan and additional debt. In the event that either
(i) the CREFC® Investor Reporting Package is amended to include such information set forth above, in a manner reasonably
acceptable to the Master Servicer, the applicable Special Servicer and Certificate Administrator, as applicable, and the Master
Servicer confirms with the Certificate Administrator that such amended CREFC® Investor Reporting Package enables
the Certificate Administrator to include such information on Form 10-D in a manner reasonably acceptable to the Certificate Administrator,
or (ii) the Trust is no longer subject to the Exchange Act, the additional report in the form of Exhibit KK shall no longer
be required hereunder. From time to time, the Master Servicer, the applicable Special Servicer and Certificate Administrator may
agree on a different delivery time and format for the information set forth in this paragraph.

 

(i)       (i)
Subject to the consent rights and processes set forth in Section 6.08 with respect to Major Decisions, the Master Servicer
shall process all defeasances of Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced Companion Loan in accordance
with the terms of the related Mortgage Loan documents, and shall be entitled to any defeasance fees paid relating thereto (provided,
that for the avoidance of doubt, any such defeasance fee shall not include the applicable Special Servicer’s portion of any
Modification Fees or waiver fees in connection with a defeasance that the applicable Special Servicer is entitled to under this
Agreement). Notwithstanding the foregoing, the Master Servicer shall not permit (or, with regard to any Non-Serviced Mortgage Loan,
take any act in furtherance of) the substitution of any Mortgaged Property pursuant to the defeasance provisions of any Mortgage
Loan or a Serviced Whole Loan unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and the Master
Servicer has received (i) replacement collateral consisting of government securities within the meaning of Treasury Regulations
Section 1.860G-2(a)(8)(ii), which satisfies the requirements of the applicable Mortgage Loan documents, in an amount sufficient
to make all scheduled payments under the related Mortgage Loan or Trust Subordinate Companion Loan (or defeased portion thereof)
when due, (ii) a certificate of an Independent certified public accountant to the effect that such substituted property will provide
cash flows sufficient to meet all payments of interest and principal (including payments at maturity) on such Mortgage Loan or
Serviced Whole Loan in compliance with the requirements of the terms of the related Mortgage Loan documents and, if applicable,
Companion Loan documents, (iii) one or more Opinions of Counsel (at the expense of the related Mortgagor) to the effect that the
Trustee, on behalf of the Trust, will have a first priority perfected security interest in such substituted Mortgaged Property;
provided, however, that, to the extent consistent with the related Mortgage Loan documents and, if applicable, Companion
Loan documents, the related Mortgagor shall pay the cost of any such opinion as a condition to granting such defeasance, (iv) to
the extent consistent with the related Mortgage Loan documents and, if applicable, Companion Loan documents, the Mortgagor shall
establish a single purpose entity to act as a successor Mortgagor, if so required by the Rating Agencies, (v) to the extent permissible
under the related Mortgage Loan documents and, if applicable, Companion Loan documents the Master Servicer shall use its reasonable
efforts to require the related Mortgagor to pay all costs of such defeasance, including but not limited to the cost of maintaining
any successor Mortgagor, and (vi) to the extent permissible under the Mortgage Loan documents and, if applicable, Companion Loan
documents, the Master Servicer shall obtain, at the expense

 

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of the related Mortgagor, Rating Agency Confirmation from each Rating
Agency and a confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.25); provided, further, however, that no such confirmation
from any Rating Agency shall be required to the extent that the Master Servicer has delivered a defeasance certificate substantially
in the form of Exhibit U hereto for any Mortgage Loan or Trust Subordinate Companion Loan that (together with any Mortgage
Loans cross-collateralized with such Mortgage Loans) is: (i) a Mortgage Loan with a Cut-off Date Principal Balance less than $20,000,000,
(ii) a Mortgage Loan that represents less than 5% of the aggregate Cut-off Date Principal Balance of all Mortgage Loans, and (iii)
a Mortgage Loan that is not one of the ten largest Mortgage Loans by Stated Principal Balance. Notwithstanding the foregoing, in
the event that requiring the Mortgagor to pay for the items specified in clauses (ii), (iv) and (v) in the
preceding sentence would be inconsistent with the related Mortgage Loan documents, such reasonable costs shall be paid by the Mortgage
Loan Seller as and to the extent set forth in the Mortgage Loan Purchase Agreement.

 

(j)       Notwithstanding
anything herein or in the related Mortgage Loan documents and, if applicable, Companion Loan documents, to the contrary, the Master
Servicer may permit the substitution of “government securities,” within the meaning of Section 2(a)(16) of the Investment
Company Act of 1940, that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii) for any Mortgaged Property pursuant to the
defeasance provisions of any Mortgage Loan or a Serviced Whole Loan, as applicable (or any portion thereof), in lieu of the defeasance
collateral specified in the related Mortgage Loan documents or Serviced Whole Loan documents, as applicable; provided that
such substitution is consistent with the Servicing Standard and the Master Servicer (subject to the applicable Special Servicer’s
processing and/or consent rights pursuant to Section 3.20(a) with respect to any such action that constitutes a Special
Servicer Major Decision) reasonably determines that allowing their use would not cause a default or event of default to become
reasonably foreseeable and the Master Servicer receives an Opinion of Counsel (at the expense of the Mortgagor to the extent permitted
under the Mortgage Loan documents and, if applicable, Companion Loan documents or otherwise as a Trust Fund expense) to the effect
that such use would not be and would not constitute a “significant modification” of such Mortgage Loan, or Companion
Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise constitute an Adverse REMIC Event with respect
to any Trust REMIC; and provided, further, that the requirements set forth in Section 3.18(i) (including receipt
of any Rating Agency Confirmation) are satisfied; and provided, further, that such securities are backed by the full
faith and credit of the United States government, or the Master Servicer shall obtain Rating Agency Confirmation from each Rating
Agency and a confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating agency
confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with
respect to the Certificates pursuant to Section 3.25).

 

(k)       If
required under the related Mortgage Loan or Companion Loan documents or if otherwise consistent with the Servicing Standard, the
Master Servicer shall

 

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establish and maintain one or more accounts (the “Defeasance Accounts”), which shall be
Eligible Accounts, into which all payments received by the Master Servicer from any defeasance collateral substituted for any Mortgaged
Property shall be deposited and retained, and shall administer such Defeasance Accounts in accordance with the Mortgage Loan or
Companion Loan documents. Notwithstanding the foregoing, in no event shall the Master Servicer permit such amounts to be maintained
in the Defeasance Account for a period in excess of ninety (90) days, unless such amounts are reinvested by the Master Servicer
in “government securities,” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, that comply
with Treasury Regulations Section 1.860G-2(a)(8)(ii). To the extent not required or permitted to be placed in a separate account,
the Master Servicer shall deposit all payments received by it from defeasance collateral substituted for any Mortgaged Property
into the Collection Account and treat any such payments as payments made on the Mortgage Loan or Companion Loan in advance of its
Due Date in accordance with clause (a)(i) of the definition of “Pooled Available Funds”, clause (a)(i)
of the definition of “AMA Plaza Available Funds” or (clause (a)(i) of the definition of “225 Bush Street
Available Funds”, as applicable, and not as a prepayment of the related Mortgage Loan or Companion Loan. Notwithstanding
anything herein to the contrary, in no event shall the Master Servicer permit such amounts to be maintained in the Collection Account
for a period in excess of 365 days (or 366 days in the case of a leap year).

 

(l)       Notwithstanding
anything to the contrary in this Agreement, neither the Master Servicer nor the applicable Special Servicer, as applicable, shall,
unless it has received Rating Agency Confirmation from each Rating Agency and a confirmation of any applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any class of Serviced
Companion Loan Securities (if any) (provided that such rating agency confirmation may be considered satisfied in the same
manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25)
(the cost of which shall be paid by the related Mortgagor, if so allowed by the terms of the related loan documents and otherwise
paid out of general collections) grant or accept any consent, approval or direction regarding the termination of the related property
manager or the designation of any replacement property manager, with respect to any Mortgaged Property that secures a Mortgage
Loan that (i) is one of the ten largest Mortgage Loans a by Stated Principal Balance or (ii) has an unpaid principal balance that
is at least equal to five percent (5%) of the then aggregate principal balance of all Mortgage Loans or $35,000,000.

 

(m)       Notwithstanding
anything to the contrary in this Agreement, in connection with any modification, waiver, consent or amendment in connection with
any defeasance transaction contemplated in the second sentence of (i), the applicable Special Servicer shall not approve
any such modification, waiver or amendment or consent thereto without first having received a copy of an Opinion of Counsel addressed
to such Special Servicer and the Master Servicer that such modification, waiver, consent or amendment will not cause an Adverse
REMIC Event.

 

Section
3.19     Transfer of Servicing Between Master Servicer and Special Servicers; Recordkeeping; Asset Status Report. (a)
Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than any Non-Serviced
Mortgage Loan), Serviced Companion Loan, the Master Servicer or the applicable Special Servicer, as the case may be, shall
promptly give notice to the Master Servicer or the applicable Special Servicer,

 

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as the case may be, the Operating Advisor and
((i) prior to the occurrence of a Consultation Termination Event and (ii) other than with respect to any Excluded Loan) the
Directing Holder thereof, and the Master Servicer shall deliver the related Mortgage File and Servicing File to the
applicable Special Servicer and concurrently provide a copy of such Servicing File, exclusive of all Privileged
Communications, to the Operating Advisor. The Master Servicer shall use its reasonable efforts to provide the applicable
Special Servicer with all information, documents and records (including the names and contact information of the Companion
Holders, records stored electronically on computer tapes, magnetic discs and the like) relating to such Mortgage Loan and, if
applicable, the related Serviced Companion Loan, either in the Master Servicer’s possession or otherwise available to
the Master Servicer without undue burden or expense, and reasonably requested by the applicable Special Servicer to enable it
to assume its functions hereunder with respect thereto. The Master Servicer shall use its reasonable efforts to comply with
the preceding sentence within five (5) Business Days of the occurrence of each related Servicing Transfer Event (or, in the
case of clauses (viii), (ix) or (x) of the definition of Servicing Transfer Event, within five (5) Business Days of receiving
notice from the applicable Special Servicer of such Servicing Transfer Event when such Special Servicer makes the
determination) and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and, if
applicable, the related Serviced Companion Loan until such Special Servicer has commenced the servicing of such Mortgage Loan
and, if applicable, the related Serviced Companion Loan. The Master Servicer shall deliver to the Trustee, the Certificate
Administrator, the Operating Advisor, any related Serviced Pari Passu Companion Noteholder, and ((i) prior to the occurrence
of a Consultation Termination Event or (ii) other than with respect to any Excluded Loan) the Directing Holder, a copy of the
notice of such Servicing Transfer Event provided by the Master Servicer to the applicable Special Servicer, or by the
applicable Special Servicer to the Master Servicer, pursuant to this Section 3.19. Prior to the occurrence of a
Consultation Termination Event, the Certificate Administrator shall deliver to each Controlling Class Certificateholder a
copy of the notice of such Servicing Transfer Event provided by the Master Servicer pursuant to this Section 3.19.

 

Upon determining that
a Specially Serviced Mortgage Loan (other than an REO Loan) has become current and has remained current for three consecutive Periodic
Payments (provided that (i) no additional Servicing Transfer Event is foreseeable in the reasonable judgment of the applicable
Special Servicer, and (ii) for such purposes taking into account any modification or amendment of such Mortgage Loan and, if applicable,
the related Companion Loan), and that no other Servicing Transfer Event is continuing with respect thereto, the applicable Special
Servicer shall immediately give notice thereof to the Master Servicer, the Operating Advisor, the related Serviced Companion Noteholder
(unless with respect to the Non- Trust Subordinate Companion Loan, a Non-Trust Subordinate Companion Loan Control Termination Event
or with respect to a Trust Subordinate Companion Loan, a Trust Subordinate Companion Loan Control Termination Event has occurred,
as applicable) and ((i) prior to the occurrence of a Consultation Termination Event and (ii) other than with respect to any Excluded
Loan) the Directing Holder and shall return the related Mortgage File and Servicing File to the Master Servicer (or copies thereof
if copies only were delivered to the applicable Special Servicer) and upon giving such notice, and returning such Mortgage File
and Servicing File to the Master Servicer, such Special Servicer’s obligation to service such Corrected Loan shall terminate
and the obligations of the Master Servicer to service and administer such Mortgage Loan and, if applicable, the related Companion
Loan shall recommence.

 

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(b)       In
servicing any Specially Serviced Mortgage Loan and Serviced Companion Loans, the applicable Special Servicer will provide to the
Custodian originals of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage
File to the extent within its possession (with a copy of each such original to the Master Servicer), and provide the Master Servicer
with copies of any additional related Mortgage Loan, Serviced Companion Loan information including correspondence with the related
Mortgagor.

 

(c)       Notwithstanding
the provisions of Section 3.12(c), the Master Servicer shall maintain ongoing payment records with respect to each of the
applicable Specially Serviced Mortgage Loans, Serviced Companion Loans and REO Properties (other than with respect to a Non-Serviced
Mortgage Loan) and shall provide such Special Servicer with any information in its possession with respect to such records to enable
the applicable Special Servicer to perform its duties under this Agreement; provided that this statement shall not be construed
to require the Master Servicer to produce any additional reports.

 

(d)       Upon
the earlier of (i) 60 days after a Servicing Transfer Event for a Mortgage Loan (other than a Non-Serviced Mortgage Loan) and,
if applicable, the related Companion Loan, and (ii) prior to taking action with respect to any Major Decision (or making a determination
not to take action with respect to a Major Decision) with respect to a Specially Serviced Mortgage Loan, the applicable Special
Servicer shall deliver in electronic format a report (the “Asset Status Report”) with respect to such Mortgage
Loan and related Companion Loan, if applicable, and the related Mortgaged Property to the Master Servicer, the Directing Holder
(but only in respect of any Mortgage Loan other than any Excluded Loan, and in any event for so long as no Consultation Termination
Event has occurred and is continuing), the Operating Advisor (but, other than with respect to an Excluded Loan, only after the
occurrence and during the continuance of a Control Termination Event), the Controlling Class Representative (only in the case of
an Asset Status Report relating to any Serviced AB Whole Loan, and only for so long as no Consultation Termination Event has occurred
and is continuing), the AMA Plaza Controlling Class Representative (only in the case of an Asset Status Report relating to the
AMA Plaza Whole Loan, and only for so long as no related Trust Subordinate Companion Loan Control Termination Event has occurred
and is continuing), the 225 Bush Street Controlling Class Representative (only in the case of an Asset Status Report relating to
the 225 Bush Street Whole Loan, and only for so long as no related Trust Subordinate Companion Loan Control Termination Event has
occurred and is continuing), with respect to any related Serviced Companion Loan, to the extent such Serviced Companion Loan has
been included in a securitization transaction, to the master servicer of such securitization into which such Serviced Companion
Loan has been sold or, to the extent such Serviced Companion Loan has not been included in a securitization transaction, to the
holder of such Serviced Companion Loan; and the 17g-5 Information Provider (which shall promptly post such report on the 17g-5
Information Provider’s Website in accordance with Section 3.13(c)) and, with respect to any related Serviced Companion
Loan, to the extent the related Serviced Companion Loan has been included in an Other Securitization, to the master servicer of
such Other Securitization into which the related Serviced Companion Loan has been sold or to the related Companion Holder. Such
Asset Status Report shall set forth the following information to the extent reasonably determinable based on the information that
was delivered to the applicable Special Servicer in connection with the transfer of servicing pursuant to the Servicing Transfer
Event:

 

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(i)       summary
of the status of such Specially Serviced Mortgage Loan and any negotiations with the related Mortgagor;

 

(ii)       a
discussion of the legal and environmental considerations reasonably known to the applicable Special Servicer, consistent with the
Servicing Standard, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties
or other collateral for the related Mortgage Loan (and any related Serviced Companion Loan) and whether outside legal counsel has
been retained;

 

(iii)       the
most current rent roll and income or operating statement available for the related Mortgaged Property;

 

(iv)       (A)
the applicable Special Servicer’s recommendations on how such Specially Serviced Mortgage Loan might be returned to performing
status (including the modification of a monetary term, and any workout, restructure or debt forgiveness) and returned to the Master
Servicer for regular servicing or otherwise realized upon (including any proposed sale of a Defaulted Mortgage Loan or REO Property),
(B) a description of any such proposed or taken actions, and (C) the alternative courses of action that were or are being considered
by the applicable Special Servicer in connection with the proposed or taken actions;

 

(v)       the
status of any foreclosure actions or other proceedings undertaken with respect to the Specially Serviced Mortgage Loan, any proposed
workouts and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional defaults
under the related Mortgage Loan or Serviced Whole Loan;

 

(vi)       a
description of any amendment, modification or waiver of a material term of any ground lease (or any space lease or air rights lease,
if applicable) or franchise agreement;

 

(vii)       the
decision that the applicable Special Servicer made, or intends or proposes to make, including a narrative analysis setting forth
such Special Servicer’s rationale for its proposed decision, including its rejection of the alternatives;

 

(viii)       an
analysis of whether or not taking such proposed action is reasonably likely to produce a greater recovery on a present value basis
than not taking such action, setting forth (x) the basis on which the applicable Special Servicer made such determination and (y)
the net present value calculation and all related assumptions;

 

(ix)       the
appraised value of the related Mortgaged Property (and a copy of the last obtained Appraisal of such Mortgaged Property) together
with a description of any adjustments to the valuation of such Mortgaged Property made by the applicable Special Servicer together
with an explanation of those adjustments; and

 

(x)       such
other information as the applicable Special Servicer deems relevant in light of the Servicing Standard.

 

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A summary of each Final
Asset Status Report shall be provided to the Certificate Administrator and the Trustee.

 

If within ten (10) Business
Days of receiving an Asset Status Report, the Directing Holder does not disapprove such Asset Status Report in writing or if the
applicable Special Servicer makes a determination, in accordance with the Servicing Standard that the disapproval by the Directing
Holder (communicated to the applicable Special Servicer within ten (10) Business Days) is not in the best interest of all the Certificateholders,
such Special Servicer shall implement the recommended action as outlined in such Asset Status Report; provided, however,
that such Special Servicer may not take any action that is contrary to applicable law, the Servicing Standard or the terms of the
applicable Mortgage Loan documents. If, with respect to any Mortgage Loan other than an Excluded Loan, prior to the occurrence
and continuance of any Control Termination Event, the Directing Holder disapproves such Asset Status Report within ten (10) Business
Days of receipt and the applicable Special Servicer has not made the affirmative determination described above, such Special Servicer
shall revise such Asset Status Report and deliver a new Asset Status Report as soon as practicable, but in no event later than
thirty (30) days after such disapproval, to the Master Servicer, the Trustee, the Certificate Administrator, the Directing Holder
(prior to the occurrence of a Consultation Termination Event and, in the case of a Serviced AB Whole Loan, only prior to the occurrence
of a Consultation Termination Event and during an Trust Subordinate Companion Loan Control Termination Event with respect to the
related AB Subordinate Companion Loan, the Operating Advisor (but only after the occurrence and during the continuance of a Control
Termination Event and the 17g-5 Information Provider (which shall promptly post such report on the 17g-5 Information Provider’s
Website in accordance with Section 3.13(c)). With respect to any Mortgage Loan other than an Excluded Loan, prior to the
occurrence and continuance of any Control Termination Event, the applicable Special Servicer shall revise such Asset Status Report
as described above in this Section 3.19(d) until the Directing Holder shall fail to disapprove such revised Asset Status
Report in writing within ten (10) Business Days of receiving such revised Asset Status Report or until the applicable Special Servicer
makes a determination, in accordance with the Servicing Standard, that the disapproval is not in the best interests of the Certificateholders;
provided that, if the Directing Holder has not approved the Asset Status Report for a period of sixty (60) Business Days
following the first submission of an Asset Status Report, the applicable Special Servicer may act upon the most recently submitted
form of Asset Status Report, if consistent with the applicable Servicing Standard; provided, however, that such Asset
Status Report does not, and is not intended to be, a substitute for the approvals that are specifically required pursuant to Section
6.08. The applicable Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and
implement such report; provided that such report shall have been prepared, reviewed and not rejected pursuant to the terms
of this Section 3.19(d). Notwithstanding anything herein to the contrary, with respect to any Excluded Loan (regardless
of whether a Control Termination Event has occurred and is continuing), the applicable Special Servicer shall consult with the
Operating Advisor, on a non-binding basis, in connection with an Asset Status Report for an Excluded Loan which includes a Major
Decisions and consider alternative actions recommended by the Operating Advisor, in respect thereof, in accordance with the procedures
set forth in Section 6.08 for consulting with the Operating Advisor.

 

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No direction or disapproval
of the Directing Holder hereunder or under a related Co-Lender Agreement or failure of the Directing Holder to consent to or approve
(including any deemed consents or approvals) any request of the applicable Special Servicer, shall (a) require or cause the applicable
Special Servicer to violate the terms of a Specially Serviced Mortgage Loan, applicable law or any provision of this Agreement,
including the applicable Special Servicer’s obligation to act in accordance with the Servicing Standard and to maintain the
REMIC status of each Trust REMIC and the grantor trust status of the Grantor Trust, or (b) result in the imposition of a “prohibited
transaction” or “prohibited contribution” tax under the REMIC Provisions, or (c) expose the Master Servicer,
the applicable Special Servicer, the Depositor, the Operating Advisor, the Mortgage Loan Seller, the Trust, the Trustee, the Certificate
Administrator or their respective officers, directors, members, employees or agents to any claim, suit or liability or (d) materially
expand the scope of the applicable Special Servicer’s, Trustee’s or the Master Servicer’s responsibilities under
this Agreement.

 

If a Control Termination
Event has occurred and is continuing, the applicable Special Servicer shall promptly deliver each Asset Status Report prepared
in connection with a Specially Serviced Mortgage Loan to (i) the Operating Advisor and (ii) any Mortgage Loan other than an Excluded
Loan, the Directing Holder (for so long as no Consultation Termination Event has occurred) and the holder of the AB Subordinate
Companion Loan (with respect to the AMA Plaza Whole Loan, the holder of the Non-Trust Subordinate Companion Loan prior to a Non-Trust
Subordinate Companion Loan Control Termination Event and the holder of the related Trust Subordinate Companion Loan after a Non-Trust
Subordinate Companion Loan Control Termination Event and prior to a related Trust Subordinate Companion Loan Control Termination
Event). The Operating Advisor shall provide comments to the applicable Special Servicer in respect of the Asset Status Report,
if any, within ten (10) Business Days following the later of (i) receipt of such Asset Status Report or (ii) receipt of such additional
information reasonably requested by the Operating Advisor related thereto, and propose possible alternative courses of action to
the extent it determines such alternatives to be in the best interest of the Certificateholders (including any Certificateholders
that are holders of the Control Eligible Certificates), as a collective whole. The applicable Special Servicer shall consider such
alternative courses of action and any other feedback provided by the Operating Advisor (and if no Consultation Termination Event
has occurred and such Specially Serviced Mortgage Loan is not an Excluded Loan, the Directing Holder) in connection with the applicable
Special Servicer’s preparation of any Asset Status Report. The applicable Special Servicer shall revise the Asset Status
Report as it deems necessary to take into account any input and/or comments from the Operating Advisor (and if no Consultation
Termination Event has occurred and such Specially Serviced Mortgage Loan is not an Excluded Loan, the Directing Holder), to the
extent the applicable Special Servicer determines that the Operating Advisor’s and/or Directing Holder’s input and/or
recommendations are consistent with the Servicing Standard and in the best interest of the Certificateholders as a collective whole
(or, with respect to a Serviced Whole Loan, the best interest of the Certificateholders and the holders of the related Companion
Loan, as a collective whole (taking into account the pari passu or subordinate nature of such Companion Loan)).

 

After the occurrence
and during the continuance of a Control Termination Event, the Directing Holder shall have no right to consent to any Asset Status
Report under this Section 3.19. After the occurrence and during the continuance of a Control Termination Event

 

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but prior
to the occurrence of a Consultation Termination Event, the applicable Special Servicer shall send each of the Directing Holder
and the Operating Advisor the Asset Status Report and the Operating Advisor and the Directing Holder shall consult with the applicable
Special Servicer and propose alternative courses of action and provide other feedback in respect of any Asset Status Report. After
the occurrence of a Consultation Termination Event (and at any time with respect to any Excluded Loan), the Directing Holder (other
than in its capacity as a Certificateholder) shall have no right to receive any Asset Status Report or otherwise consult with the
applicable Special Servicer with respect to Asset Status Reports and the applicable Special Servicer shall send the Asset Status
Report to the Operating Advisor and shall only be obligated to consult with the Operating Advisor with respect to any Asset Status
Report as described above. The applicable Special Servicer may choose to revise the Asset Status Report as it deems reasonably
necessary in accordance with the Servicing Standard to take into account any input and/or recommendations of the Operating Advisor
or the Directing Holder during the applicable periods described above, but is under no obligation to follow any particular recommendation
of the Operating Advisor or the Directing Holder.

 

The applicable Special
Servicer shall implement the Final Asset Status Report.

 

Notwithstanding the foregoing,
with respect to a Serviced AB Whole Loan, the applicable Special Servicer shall prepare an Asset Status Report for any Serviced
AB Whole Loan, upon it becoming a Specially Serviced Mortgage Loan pursuant to this Agreement and the related Co-Lender Agreement
and prior to the occurrence and continuance of an Trust Subordinate Companion Loan Control Termination Event, the Controlling Class
Representative will have no approval rights over any such Asset Status Report, and the consent or approval rights with respect
to such Asset Status Report shall be as set forth in the related Co-Lender Agreement.

 

(e)       (i)
Upon receiving notice of the occurrence of the events described in clause (v) and (vii) of the definition of Servicing
Transfer Event (without regard to the 60-day or 30-day period, respectively, set forth therein), the Master Servicer shall with
reasonable promptness give notice thereof, and shall use its reasonable efforts to provide the applicable Special Servicer with
all information relating to the Mortgage Loan or Serviced Companion Loan and reasonably requested by such Special Servicer to enable
it to negotiate with the related Mortgagor. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence
within five (5) Business Days of the occurrence of each such event.

 

(ii)       After
the occurrence and during the continuance of a Control Termination Event, upon receiving notice of the occurrence of an event described
in clause (iv) or (x) of the definition of Servicing Transfer Event (without regard to the 60-day or 30-day period,
respectively, set forth therein), the Master Servicer shall deliver notice thereof to the Operating Advisor at the same time such
notice is provided to the applicable Special Servicer pursuant to clause (i) above.

 

(f)       Prior
to the occurrence and continuance of a Control Termination Event, no later than two (2) Business Days following the establishment
of a Final Asset Status Report with respect to any Specially Serviced Mortgage Loan (other than any Excluded Loan), the applicable
Special Servicer shall deliver in electronic format to the Directing Holder a draft

 

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notice that will include a draft summary of
the Final Asset Status Report (which briefly summarizes such Final Asset Status Report, but shall not include any Privileged Information)
(and shall deliver each Asset Status Report with respect to an AB Mortgage Loan prior to the occurrence and continuance of an AB
Control Appraisal Period (to the extent approved by the related AB Whole Loan Controlling Holder), a Non-Trust Subordinate Companion
Loan Control Termination Event or a Trust Subordinate Companion Loan Control Termination Event as applicable, to the Directing
Holder). With respect to any Mortgage Loan other than an Excluded Loan, if, prior to the occurrence and continuance of a Control
Termination Event, within five (5) Business Days of receipt of such draft summary, the Directing Holder approves of, or does not
disapprove of such draft summary, then the applicable Special Servicer shall deliver in electronic format such notice and summary
of the Final Asset Status Report to the Certificate Administrator for posting on the Certificate Administrator’s Website
pursuant to Section 3.13(b). If the Directing Holder affirmatively disapproves of such summary in writing, then within two
(2) Business Days of receipt of such disapproval, the applicable Special Servicer shall revise the summary and deliver such new
summary to the Directing Holder until the Directing Holder approves such draft summary; provided, however, that if
the Directing Holder has not approved of the draft summary of the Final Asset Status Report within twenty (20) Business Days of
receipt of the initial draft summary of the Final Asset Status Report, then the most recent draft summary of the Final Asset Status
Report delivered by the applicable Special Servicer prior to such 20th Business Day shall be deemed to be the final summary of
the Final Asset Status Report; provided, further, however, that if at any time the applicable Special Servicer
determines that any affirmative disapproval of such draft summary by the Directing Holder is not in the best interest of all the
Certificateholders pursuant to the Servicing Standard, the applicable Special Servicer shall deliver in electronic format such
notice and summary of the Final Asset Status Report to the Certificate Administrator for posting on the Certificate Administrator’s
Website pursuant to Section 3.13(b) notwithstanding such disapproval. The applicable Special Servicer shall promptly deliver
(but in any event no later than two (2) Business Days following its completion) a copy of each Final Asset Status Report to the
Operating Advisor. The applicable Special Servicer shall prepare a summary of any Final Asset Status Report related to any Serviced
AB Whole Loan for which the related holder of an AB Subordinate Companion Loan is not subject to an AB Control Appraisal Period,
Non-Trust Subordinate Companion Loan Control Termination Event or Trust Subordinate Companion Loan Control Termination Event, as
applicable, which Final Asset Status Report has been approved or deemed approved by the holder of the related AB Subordinate Companion
Loan in accordance with the related Co-Lender Agreement (to the extent such Co-Lender Agreement requires such approval or deemed
approval), and deliver in electronic format notice of such final Asset Status Report and the summary of such Final Asset Status
Report to the Certificate Administrator for posting on the Certificate Administrator’s Website pursuant to Section 3.13(b).

 

(g)       No
provision of this Section 3.19 shall require a Special Servicer to take or to refrain from taking any action because of
any proposal, objection or comment by the Operating Advisor or a recommendation of the Operating Advisor.

 

Section
3.20     Sub-Servicing Agreements. (a) The Master Servicer may enter into Sub-Servicing Agreements to provide for the
performance by third parties of any or all of its respective obligations hereunder; provided that the Sub-Servicing
Agreement as amended or modified: (i) is consistent with this Agreement in all material respects and requires the

 

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Sub-Servicer to comply with all of the applicable conditions of this Agreement; (ii) provides that if the Master Servicer,
shall for any reason no longer act in such capacity hereunder (including, without limitation, by reason of a Servicer
Termination Event), the Trustee or any successor master servicer shall thereupon assume all of the rights and, except to the
extent they arose prior to the date of assumption, obligations of such party under such agreement, or, alternatively, may act
in accordance with Section 7.02 hereof under the circumstances described therein (subject to Section 3.20(g) hereof);
(iii) provides that the Trustee (for the benefit of the Certificateholders and the related Companion Holder (if applicable)
and the Trustee (as holder of the Lower-Tier Regular Interests) shall be a third party beneficiary under such Sub-Servicing
Agreement, but that (except to the extent the Trustee or its designee assumes the obligations of such party thereunder as
contemplated by the immediately preceding clause (ii)) none of the Trust, the Trustee, the Operating Advisor, the
Certificate Administrator, the Master Servicer, as applicable, any successor master servicer or any Certificateholder (or the
related Companion Holder, if applicable) shall have any duties under such Sub-Servicing Agreement or any liabilities
arising therefrom; (iv) permits any purchaser of a Mortgage Loan or Trust Subordinate Companion Loan pursuant to this
Agreement to terminate such Sub-Servicing Agreement with respect to such purchased Mortgage Loan or Trust Subordinate
Companion Loan at its option and without penalty; provided, however, that the Initial Sub-Servicing Agreements
may only be terminated by the Trustee or its designees as contemplated by Section 3.20(g) hereof and in such
additional manner and by such other Persons as is provided in such Sub-Servicing Agreement; (v) does not permit the
Sub-Servicer any direct rights of indemnification that may be satisfied out of assets of the Trust; (vi) does not permit the
Sub-Servicer to modify any Mortgage Loan or Trust Subordinate Companion Loan unless and to the extent the Master Servicer is
permitted hereunder to modify such Mortgage Loan or Trust Subordinate Companion Loan; (vii) with respect to any Sub-Servicing
Agreement entered into after the Closing Date, if such Sub-Servicer is a Servicing Function Participant or an Additional
Servicer, such Sub-Servicer, at the time the related Sub-Servicing Agreement is entered into, is not a Prohibited Party and
(viii) provides that the Sub-Servicer shall be in default under the related Sub-Servicing Agreement and such Sub-Servicing
Agreement shall be terminated (following the expiration of any applicable Grace Period) if the Sub-Servicer fails (A) to
deliver by the due date any Exchange Act reporting items required to be delivered to the Master Servicer under Article
XI or under the Sub-Servicing Agreement or to the master servicer under any other pooling and servicing agreement that
the Depositor is a party to, (B) to perform in any material respect any of its covenants or obligations contained in
the Sub-Servicing Agreement regarding creating, obtaining or delivering any Exchange Act reporting items required for any
party to this Agreement to perform its obligations under Article XI or under the Exchange Act reporting items required
under any other pooling and servicing agreement that the Depositor is a party to or (C) to perform other covenants and
obligations set forth in such Sub-Servicing Agreement in accordance with the terms of such Sub-Servicing Agreement. Any
successor master servicer hereunder shall, upon becoming successor master servicer be assigned and may assume any
Sub-Servicing Agreements from the predecessor Master Servicer (subject to Section 3.20(g) hereof). In addition, each
Sub-Servicing Agreement entered into by the Master Servicer may but need not provide that the obligations of the Sub-Servicer
thereunder may terminate with respect to any Mortgage Loan or Trust Subordinate Companion Loan serviced thereunder at the
time such Mortgage Loan or Trust Subordinate Companion Loan becomes a Specially Serviced Mortgage Loan; provided, however,
that the Sub-Servicing Agreement may provide (if the Sub-Servicing Agreement provides for

 

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Advances by the Sub-Servicer,
although it need not so provide) that the Sub-Servicer will continue to make all Advances and calculations and prepare all
reports required under the Sub-Servicing Agreement with respect to Specially Serviced Mortgage Loans and continue to collect
its Primary Servicing Fees as if no Servicing Transfer Event had occurred and with respect to REO Properties (and the related
REO Loans) as if no REO Acquisition had occurred and to render such incidental services with respect to such Specially
Serviced Mortgage Loans and REO Properties as are specifically provided for in such Sub-Servicing Agreement. The Master
Servicer shall deliver to the Trustee copies of all Sub-Servicing Agreements, and any amendments thereto and
modifications thereof, entered into by it, in each case promptly upon its execution and delivery of such documents.
References in this Agreement to actions taken or to be taken by the Master Servicer include actions taken or to be taken by a
Sub-Servicer on behalf of the Master Servicer; and, in connection therewith, all amounts advanced by any Sub-Servicer (if the
Sub-Servicing Agreement provides for Advances by the Sub-Servicer, although it need not so provide) to satisfy the
obligations of the Master Servicer hereunder to make Advances shall be deemed to have been advanced by the Master Servicer
out of its own funds and, accordingly, in such event, such Advances shall be recoverable by such Sub-Servicer in the same
manner and out of the same funds as if such Sub-Servicer were the Master Servicer, and, for so long as they are outstanding,
such Advances shall accrue interest in accordance with Section 3.03(d), such interest to be allocable between the
Master Servicer and such Sub-Servicer as may be provided (if at all) pursuant to the terms of the Sub-Servicing Agreement.
For purposes of this Agreement, the Master Servicer shall be deemed to have received any payment when a Sub-Servicer retained
by it receives such payment. The Master Servicer shall notify the applicable Special Servicer, the Trustee and the Depositor
(and such Special Servicer shall notify the Operating Advisor) in writing promptly of the appointment by it of any
Sub-Servicer, except that the Master Servicer need not provide such notice as to the Initial Sub-Servicing Agreements.

 

(b)       Each
Sub-Servicer shall be authorized to transact business in the state or states in which the related Mortgaged Properties it is to
service are situated, if and to the extent required by applicable law to the extent necessary to ensure the enforceability of the
related Mortgage Loans or Trust Subordinate Companion Loan or the compliance with its obligations under the Sub-Servicing Agreement
and the Master Servicer’s obligations under this Agreement.

 

(c)       As
part of its servicing activities hereunder, the Master Servicer for the benefit of the Trustee and the Certificateholders, shall
(at no expense to the Trustee, the Certificateholders or the Trust) monitor the performance and enforce the obligations of each
Sub-Servicer under the related Sub-Servicing Agreement, except that the Master Servicer shall be required only to use reasonable
efforts to cause any Initial Sub-Servicer to comply with the requirements of Article XI hereof. Such enforcement, including,
without limitation, the legal prosecution of claims, termination of Sub-Servicing Agreements in accordance with their respective
terms and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as
is in accordance with the Servicing Standard. The Master Servicer shall have the right to remove a Sub-Servicer retained by it
(other than any Sub-Servicer retained by it at the request of the Mortgage Loan Seller, which is only removable for cause) at any
time it considers removal to be in the best interests of Certificateholders in accordance with the terms of the related Sub-Servicing
Agreement.

 

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(d)       In
the event the Trustee or its designee becomes successor master servicer and assumes the rights and obligations of the Master Servicer
under any Sub-Servicing Agreement, the Master Servicer, at its expense, shall deliver to the assuming party all documents and records
relating to such Sub-Servicing Agreement and the Mortgage Loans and, if applicable, the Companion Loans then being serviced thereunder
and an accounting of amounts collected and held on behalf of it thereunder, and otherwise use reasonable efforts to effect the
orderly and efficient transfer of the Sub-Servicing Agreement to the assuming party.

 

(e)       Notwithstanding
the provisions of any Sub-Servicing Agreement and this Section 3.20, except to the extent provided in Article XI
with respect to the obligations of any Sub-Servicer that is an Initial Sub-Servicer, the Master Servicer shall remain obligated
and responsible to the Trustee, the applicable Special Servicer, holders of the Companion Loans serviced hereunder and the Certificateholders
for the performance of its obligations and duties under this Agreement in accordance with the provisions hereof to the same extent
and under the same terms and conditions as if it alone were servicing and administering the Mortgage Loans or Trust Subordinate
Companion Loan for which it is responsible, and the Master Servicer shall pay the fees of any Sub-Servicer thereunder as and when
due from its own funds. In no event shall the Trust bear any termination fee required to be paid to any Sub-Servicer as a result
of such Sub-Servicer’s termination under any Sub-Servicing Agreement.

 

(f)       The
Trustee, upon the request of the Master Servicer, shall furnish to any Sub-Servicer any documents necessary or appropriate to enable
such Sub-Servicer to carry out its servicing and administrative duties under any Sub-Servicing Agreement.

 

(g)       Each
Sub-Servicing Agreement shall provide that, in the event the Trustee or any other Person becomes successor master servicer, the
Trustee or such successor master servicer shall have the right to terminate such Sub-Servicing Agreement with or without cause
and without a fee. Notwithstanding the foregoing or any other contrary provision in this Agreement, the Trustee and any successor
master servicer shall assume each Initial Sub-Servicing Agreement and (i) the Initial Sub-Servicer’s rights and obligations
under the Initial Sub-Servicing Agreement shall expressly survive a termination of the Master Servicer’s servicing rights
under this Agreement; provided that the Initial Sub-Servicing Agreement has not been terminated in accordance with its provisions;
(ii) any successor master servicer, including, without limitation, the Trustee (if it assumes the servicing obligations of the
Master Servicer) shall be deemed to automatically assume and agree to the then-current Initial Sub-Servicing Agreement without
further action upon becoming the successor master servicer and (iii) this Agreement may not be modified in any manner which would
increase the obligations or limit the rights of the Initial Sub-Servicer hereunder and/or under the Initial Sub-Servicing Agreement,
without the prior written consent of the Initial Sub-Servicer (which consent shall not be unreasonably withheld).

 

(h)       With
respect to Mortgage Loans or Trust Subordinate Companion Loan subject to a Sub-Servicing Agreement with the Master Servicer, the
applicable Special Servicer shall, upon request (such request to be made reasonably in advance as appropriate to the circumstances
surrounding such request) of the related Sub-Servicer, reasonably cooperate in delivering reports and information, including remittance
information, and affording access to

 

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information to the related Sub-Servicer that would be required to be delivered or afforded,
as the case may be, to the Master Servicer pursuant to the terms hereof.

 

(i)       Notwithstanding
anything to the contrary herein, no Sub-Servicer shall be permitted under any Sub-Servicing Agreement to make material servicing
decisions, such as loan modifications or determinations as to the manner or timing of enforcing remedies under the Mortgage Loan
documents without the consent of the Master Servicer. The Master Servicer’s consent may also be required for certain other
servicing decisions as provided in the related Sub-Servicing Agreement.

 

Section 3.21     Interest
Reserve Account.

 

(a)  On the Master Servicer
Remittance Date occurring in each February and in any January that occurs in a year that is not a leap year (in each case, unless
the related Distribution Date is the final Distribution Date), the Certificate Administrator, in respect of the Actual/360 Mortgage
Loans, shall deposit into the Interest Reserve Account, an amount equal to one (1) day’s interest on the Stated Principal
Balance of the Actual/360 Mortgage Loans as of the Due Date occurring in the month preceding the month in which Master Servicer
Remittance Date occurs at the related Net Mortgage Rate, to the extent a full Periodic Payment or P&I Advance is made in respect
thereof (all amounts so deposited in any consecutive February and January, “Withheld Amounts”).

 

(b)       On
each Master Servicer Remittance Date occurring in March (or February, if the related Distribution Date is the final Distribution
Date), the Certificate Administrator shall withdraw, from the Interest Reserve Account an amount equal to the Withheld Amounts
from the preceding January (if applicable) and February, if any, and deposit such amount into the Lower-Tier REMIC Distribution
Account or a Trust Subordinate Companion Loan REMIC Distribution Account, as applicable.

 

Section
3.22     Directing Holder and Operating Advisor Contact with Master Servicer and Special Servicers. Within a reasonable
time upon request from the Directing Holder or the Operating Advisor, as applicable, and no more often than on a monthly
basis, each of the Master Servicer and the Special Servicers shall, without charge, make a knowledgeable Servicing Officer
via telephone available to verbally answer questions from (a) ((i) prior to the occurrence of a Consultation Termination
Event and (ii) other than with respect to any Excluded Loan) the Directing Holder and (b) upon the occurrence and during the
continuance of any Control Termination Event, the Operating Advisor (with respect to the applicable Special Servicer only),
regarding the performance and servicing of the Mortgage Loans, the Trust Subordinate Companion Loan and/or REO Properties for
which the Master Servicer or the applicable Special Servicer, as the case may be, is responsible.

 

Section
3.23     Controlling Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of
Directing Holder. (a) Each Controlling Class Certificateholder is hereby deemed to have agreed by virtue of its purchase
of a Certificate to provide its name and address to the Certificate Administrator and to notify the Master Servicer, the
Certificate Administrator, the applicable Special Servicer and the Operating Advisor of the transfer of any Certificate of a
Controlling Class by delivering a notice to each such Person

 

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substantially in the form of Exhibit NN attached hereto,
the selection of a Controlling Class Representative or the resignation or removal thereof. The Controlling Class
Representative is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify the Master Servicer, the
applicable Special Servicer, the Certificate Administrator, the Trustee and the Operating Advisor when such Certificateholder
is appointed Controlling Class Representative and when it is removed or resigns. To the extent there is only one Controlling
Class Certificateholder and it is also the General Special Servicer, it shall be the Controlling Class Representative.

 

On the Closing Date,
the initial Controlling Class Representative shall deliver a certification substantially in the form of Exhibit P-1G to
this Agreement. Upon the resignation or removal of the existing Controlling Class Representative, any successor Controlling Class
Representative shall also deliver a certification substantially in the form of Exhibit P-1G to this Agreement prior to being
recognized as the new Controlling Class Representative.

 

(b)       Once
a Controlling Class Representative has been selected, each of the Master Servicer, the Special Servicers, the Depositor, the Trustee,
the Certificate Administrator, the Operating Advisor and each other Certificateholder (or Certificate Owner, if applicable) shall
be entitled to rely on such selection unless the Controlling Class Certificateholders entitled to appoint the Controlling Class
Representative, by Certificate Balance, or such Controlling Class Representative shall have notified the Master Servicer, the applicable
Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor and each other Controlling Class Certificateholder,
in writing, of the resignation of such Controlling Class Representative or the selection of a new Controlling Class Representative.
Upon the resignation of a Controlling Class Representative, the Certificate Administrator shall request the Controlling Class Certificateholders
to select a new Controlling Class Representative. In the event that (i) the Master Servicer, the Certificate Administrator, the
applicable Special Servicer, the Trustee or the Operating Advisor receives written notice from a majority of the Controlling Class
Certificateholders that a Controlling Class Representative is no longer designated and (ii) the Controlling Class Certificateholder
that owns the largest aggregate Certificate Balance of the Controlling Class (or a representative thereof) becomes the Controlling
Class Representative pursuant to the proviso of the definition of “Controlling Class Representative”, then the
Controlling Class Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (or its representative)
shall provide its name and address to the Certificate Administrator and notify the Master Servicer, the Certificate Administrator,
the applicable Special Servicer, the Trustee and the Operating Advisor that it is the new Controlling Class Representative; provided
that the Master Servicer, the Certificate Administrator, the applicable Special Servicer, the Trustee and the Operating Advisor
shall be entitled to rely on the written notification provided by the purported Controlling Class Certificateholder that owns the
largest aggregate Certificate Balance of the Controlling Class without independently verifying that such Controlling Class Certificateholder
actually owns the largest aggregate Certificate Balance of the Controlling Class.

 

(c)       Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicers, the Certificate Administrator, the Operating
Advisor and the Trustee shall be entitled to rely on the most recent notification with respect to the identity of the Controlling
Class Certificateholder and the Controlling Class Representative.

 

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

 

(e)       Upon
request, the Certificate Administrator shall deliver to the Depositor, Trustee, the Special Servicers, the Operating Advisor, the
Master Servicer and, prior to the occurrence of a Consultation Termination Event, the Controlling Class Representative, a list
of each Controlling Class Certificateholder and Loan-Specific Directing Holder as reflected in the Certificate Registrar, including
names and addresses at the expense of the Trust. In addition to the foregoing, within five (5) Business Days of receiving notice
of the selection of a new Controlling Class Representative or the existence of a new Controlling Class Certificateholder or Loan-Specific
Directing Holder, the Certificate Administrator shall notify the Trustee, the Operating Advisor, the Master Servicer and the applicable
Special Servicer. Notwithstanding the foregoing, Eightfold Real Estate Capital, L.P., shall be the initial Controlling
Class Representative and shall remain so until a successor is appointed pursuant to the terms of this Agreement or until a Consultation
Termination Event occurs.

 

Until it receives notice
to the contrary, each of the Master Servicer, the Special Servicers, the Operating Advisor, the Certificate Administrator and the
Trustee shall be entitled to rely on the preceding sentence with respect to the identity of the Controlling Class Representative.

 

(f)       If
to the extent the Certificate Administrator determines that a Class of Book-Entry Certificates is the Controlling Class, the Certificate
Administrator shall notify the related Certificateholders of such Class (through the Depository) of the Class becoming the Controlling
Class.

 

(g)       Each
Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that: (i) the Directing Holder may have special
relationships and interests that conflict with those of Holders of one or more Classes of Certificates; (ii) the Directing Holder
may act solely in the interests of the Holders of the Controlling Class; (iii) the Directing Holder does not have any liability
or duties to the Holders of any Class of Certificates other than the Controlling Class; (iv) the Directing Holder may take actions
that favor interests of the Holders of the Controlling Class over the interests of the Holders of one or more other Classes of
Certificates; and (v) the Directing Holder shall have no liability whatsoever (other than to a Controlling Class Certificateholder,
to the extent the Controlling Class Representative is the Directing Holder) for having so acted, and no Certificateholder may take
any action whatsoever against the Directing Holder or any director, officer, employee, agent or principal of the Directing Holder
for having so acted.

 

(h)       All
requirements of the Master Servicer and each Special Servicer to provide notices, reports, statements or other information (including
the access to information on

 

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a website) to the Directing Holder contained in this Agreement shall also apply to each Companion
Holder with respect to information relating to the related Serviced AB Mortgage Loan or a Serviced Whole Loan, as applicable; provided,
however, that neither the Master Servicer nor the applicable Special Servicer shall provide information that comprises Privileged
Information following the date upon which they receive notice that such Non- Trust Subordinate Companion Loan or Trust Subordinate
Companion Loan is subject to a Non-Trust Subordinate Companion Loan Control Termination Event or Trust Subordinate Companion Loan
Control Termination Event, as applicable, and thereafter the Master Servicer and the applicable Special Servicer shall only be
required to provide such Loan–Specific Directing Holder with such information as is expressly required to be delivered under
the related Co-Lender Agreement; provided, however, that nothing in this subsection (h) shall in any way eliminate the obligation
to deliver any information required to be delivered under the related Co-Lender Agreement.

 

(i)       Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicers, the Certificate Administrator, the Trustee
and the Operating Advisor shall be entitled to rely on the most recent notification with respect to the identity and contact information
of the Controlling Class Certificateholder, the Directing Holder and any AB Whole Loan Controlling Holder.

 

(j)       With
respect to a Serviced Whole Loan and any approval and consent rights in this Agreement with respect to such Serviced Whole Loan,
the related Serviced Whole Loan Controlling Holder or Loan-Specific Directing Holder shall exercise such rights in accordance with
the related Co-Lender Agreement.

 

(k)       The
Certificate Registrar shall determine which Class of Control Eligible Certificates is the then-current Controlling Class within
two (2) Business Days of a request from the Master Servicer, the applicable Special Servicer, Certificate Administrator, Trustee,
or any Certificateholder and provide such information to the requesting party.

 

(l)       At
any time when the Class E Certificates are the Controlling Class Certificates, the holder of more than 50% of the Controlling Class
Certificates (by Certificate Balance) may waive its right to act as or appoint a Controlling Class Representative and to exercise
any of the rights of the Controlling Class Representative or cause the exercise of any of the rights of the Controlling Class Representative
set forth in this Agreement, by irrevocable written notice delivered to the Depositor, the Certificate Administrator (which shall
be via email to trustadministrationgroup@wellsfargo.com), the Trustee, the Master Servicer, the Special Servicers and the Operating
Advisor. Any such waiver will remain effective with respect to such holder and the Class E Certificates until such time as that
Certificateholder has (i) sold a majority of the Class E Certificates (by Certificate Balance) to an unaffiliated third party and
(ii) certified to the depositor, the certificate administrator, the trustee, the master servicer, the special servicers and the
operating advisor that (a) the transferor retains no direct or indirect voting rights with respect to the Class E Certificates
that it does not own, (b) there is no voting agreement between the transferee and the transferor and (c) the transferor retains
no direct or indirect economic interest in the Class E Certificates. Following any such transfer, the successor holder of more
than 50% of the Class E Certificateholders (by Certificate Balance), if Class E Certificates are the Controlling Class Certificates,
will again have the rights of the Controlling Class Representative as described in this prospectus supplement without regard to
any prior

 

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waiver by the predecessor Certificateholder. Such successor Certificateholder will also have the right to irrevocably
waive its right to act as or appoint a Controlling Class Representative or to exercise any of the rights of the Controlling Class
Representative or cause the exercise of any of the rights of the Controlling Class Representative. No such successor Certificateholder
described above in this paragraph will have any consent rights with respect to any Mortgage Loan or Trust Subordinate Companion
Loan that became a Specially Serviced Mortgage Loan prior to its acquisition of a majority of the Class E Certificates that had
not also become a Corrected Loan prior to such acquisition until such Mortgage Loan or Trust Subordinate Companion Loan becomes
a Corrected Loan.

 

Whenever such an “opt-out”
by a Controlling Class Certificateholder is in effect, a Consultation Termination Event will be deemed to have occurred and continue;
and the rights of the holder of more than 50% of the Class E Certificates (by Certificate Balance), if they are the Controlling
Class Certificates, to act as or appoint a Controlling Class Representative and the rights of the Controlling Class Representative
will not be operative (notwithstanding whether a Control Termination Event or a Consultation Termination Event is or would otherwise
then be in effect).

 

(m)       Promptly
upon its determination of a change in the Controlling Class, the Certificate Administrator shall (i) include on its statement made
available pursuant to Section 4.02(a) of this Agreement the identity of the new Controlling Class and (ii) provide to the
Master Servicer, the Special Servicers and the Operating Advisor notice of such event and the identity and contact information
of the new Controlling Class Certificateholder (the cost of obtaining such information from DTC being an expense of the Trust).
The Certificate Administrator shall notify the Operating Advisor and the Special Servicers within ten (10) Business Days of the
existence or cessation of (i) any Control Termination Event or (ii) any Consultation Termination Event. Upon the Certificate Administrator’s
determination that a Control Termination Event or a Consultation Termination Event has occurred or is terminated, the Certificate
Administrator shall, within ten (10) Business Days, post a “special notice” on the Certificate Administrator’s
Website pursuant to this provision.

 

In the event that a Control
Termination Event has occurred due to a reduction of the Certificate Balance of the Class E Certificates (taking into account the
application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance of such Class in accordance with Section
4.05(a) hereof) to less than 25% of the Original Certificate Balance thereof, such special notice shall state “A Control
Termination Event has occurred due to the reduction of the Certificate Balance of the Class E Certificates to less than 25% of
the Original Certificate Balance thereof.”

 

In the event that a Control
Termination Event or Consultation Termination Event has occurred due to the irrevocable waiver by a Class E Certificateholder who
has become the Controlling Class Certificateholder of its right to appoint a Controlling Class Representative or to exercise any
of the rights of the Controlling Class Certificateholder, such special notice shall state “A Control Termination Event and
a Consultation Termination Event has occurred due to the irrevocable waiver by the Controlling Class Certificateholder of its rights
as Controlling Class Certificateholder.”

 

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In the event that a Consultation
Termination Event has occurred due to the reduction of each Class of Control Eligible Certificates below 25% of its Original Certificate
Balance, in each case without regard to the application of any Appraisal Reduction Amounts, such special notice shall state: “A
Consultation Termination Event has occurred because no Class of Control Eligible Certificates exists where such Class’s aggregate
Certificate Balance is at least equal to 25% of the Original Certificate Balance of that Class, in each case without regard to
the application of any Appraisal Reduction Amounts.”

 

In the event of any transfer
of a Class E Certificate, and upon notice to the Certificate Administrator in the form of Exhibit NN that results in a termination
of a Control Termination Event or a Consultation Termination Event, such “special notice” shall state: “A Consultation
Termination Event or a Control Termination Event has been terminated and is no longer in effect due to a transfer of a majority
interest of the Controlling Class Certificates to an unaffiliated third party which has terminated any waiver by the prior Holder.”

 

Section
3.24     Co-Lender Agreements. (a) Each of the Master Servicer and Special Servicers acknowledges and agrees that each
Serviced Whole Loan being serviced under this Agreement and each Mortgage Loan with mezzanine debt is subject to the terms
and provisions of the related Co-Lender Agreement and each agrees to service each such Serviced Whole Loan and each Mortgage
Loan with mezzanine debt in accordance with the related Co-Lender Agreement and this Agreement, including, without
limitation, effecting distributions and allocating reimbursement of expenses in accordance with the related Co-Lender
Agreement and, in the event of any conflict between the provisions of this Agreement and the related Co-Lender Agreement, the
related Co-Lender Agreement shall govern. Notwithstanding anything contrary in this Agreement, each of the Master Servicer
and Special Servicers agrees not to take any action with respect to a Serviced Whole Loan or a Mortgage Loan with mezzanine
debt or the related Mortgaged Property without the prior consent of the related Companion Holder or mezzanine lender, as
applicable, to the extent that the related Co-Lender Agreement provides that such Companion Holder or mezzanine lender, as
applicable, is required or permitted to consent to such action. Each of the Master Servicer and Special Servicers
acknowledges and agrees that each Companion Holder and each mezzanine lender or its respective designee has the right to
purchase the related Mortgage Loan pursuant to the terms and conditions of this Agreement and the related Co-Lender Agreement
to the extent provided for therein. All parties hereto further acknowledge and agree that any AB Whole Loan Controlling
Holder will have the right to replace the applicable Special Servicer solely with respect to the related Serviced AB Whole
Loan and shall be entitled to exercise all approval rights of the Directing Holder regarding any Asset Status Report in
respect of the Mortgage Loan or related REO Property, without regard to the occurrence of any Control Termination Event
or Consultation Termination Event with respect to the related Serviced AB Whole Loan, to the extent provided for herein and
in the related Co-Lender Agreement.

 

(b)       Neither
the Master Servicer nor the applicable Special Servicer shall have any liability for any cost, claim or damage that arises from
any entitlement in favor of a Companion Holder or a mezzanine lender under the related Co-Lender Agreement or conflict between
the terms of this Agreement and the terms of such Co-Lender Agreement. Notwithstanding any provision of any Co-Lender Agreement
that may otherwise require the Master Servicer or such Special Servicer to abide by any instruction or direction of a Companion

 

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Holder or a mezzanine lender, neither the Master Servicer nor such Special Servicer shall be required to comply with any instruction
or direction the compliance with which requires an Advance that constitutes or would constitute a Nonrecoverable Advance. In no
event shall any expense arising from compliance with a Co-Lender Agreement constitute an expense to be borne by the Master Servicer
or the applicable Special Servicer for its own account without reimbursement. In no event shall the Master Servicer or the applicable
Special Servicer be required to consult with or obtain the consent of any Companion Holder or a mezzanine lender unless such Companion
Holder or mezzanine lender has delivered notice of its identity and contact information to each of the parties to this Agreement
(upon which notice each of the parties to this Agreement shall be conclusively entitled to rely). As of the Closing Date, the contact
information for the Companion Holders and mezzanine lenders is as set forth in the related Co-Lender Agreement or mezzanine intercreditor
agreement, as applicable, or as otherwise set forth in Section 13.05. In no event shall the Master Servicer or the applicable
Special Servicer, as the case may be, be required to consult with or obtain the consent of a new Controlling Class Representative
or a new Controlling Class Certificateholder unless the Certificate Administrator has delivered notice to the Master Servicer or
such Special Servicer, as applicable, as required under Section 3.23(e) or the Master Servicer or such Special Servicer,
as applicable, have actual knowledge of the identity and contact information of a new Controlling Class Representative or a new
Controlling Class Certificateholder.

 

(c)       No
direction or disapproval of the Companion Holders or any mezzanine lender shall (a) require or cause the Master Servicer or the
applicable Special Servicer to violate the terms of a Mortgage Loan or Serviced Companion Loan, applicable law or any provision
of this Agreement, including the Master Servicer’s or such Special Servicer’s obligation to act in accordance with
the Servicing Standard and to maintain the REMIC status of each Trust REMIC and the grantor trust status of the Grantor Trust,
(b) result in the imposition of a “prohibited transaction” or “prohibited contribution” tax under the REMIC
Provisions or (c) materially expand the scope of the applicable Special Servicer’s, Trustee’s, the Certificate Administrator’s
or the Master Servicer’s responsibilities under this Agreement.

 

(d)       With
respect to any Serviced Pari Passu Companion Loan, notwithstanding any rights the Operating Advisor or the Controlling Class Representative
hereunder may have to consult with respect to any action or other matter with respect to the servicing of such Companion Loan,
to the extent the related Co-Lender Agreement provides that such right is exercisable by the related Companion Holder or is exercisable
in conjunction with any related Companion Holder, the Controlling Class Representative shall not be permitted to exercise such
right or, to the extent provided in the related Co-Lender Agreement, shall be required to exercise such right in conjunction with
the related Companion Holder, as applicable (except to the extent that the Controlling Class Representative is the related Serviced
Whole Loan Controlling Holder). Additionally, notwithstanding anything in this Agreement to the contrary, the Master Servicer or
the applicable Special Servicer, as the case may be, shall consult, seek the approval or obtain the consent of the holder of any
Serviced Companion Loan with respect to any matters with respect to the servicing of such Companion Loan to the extent required
under related Co-Lender Agreement and shall not take such actions requiring consent of the related Companion Holder without such
consent. In addition, notwithstanding anything to the contrary, the Master Servicer or the applicable Special Servicer, as the
case may be, shall 

 

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deliver reports and notices to the related Companion Holder as required under the Co-Lender Agreement.

 

(e)       Notwithstanding
anything in this Agreement to the contrary, the Master Servicer or the applicable Special Servicer, as the case may be, shall be
required (i) to provide copies of any notice, information and report that it is required to provide to the Controlling Class Certificateholder
pursuant to this Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an
Asset Status Report relating to a Serviced Whole Loan, to the related Companion Holder, within the same time frame it is required
to provide to the Controlling Class Certificateholder (for this purpose, without regard to whether such items are actually required
to be provided to the Controlling Class Certificateholder under this Agreement due to the occurrence of a Control Termination Event
or a Consultation Termination Event) and (ii) to consult with any related Companion Holder on a strictly non-binding basis, to
the extent having received such notices, information and reports, such related Companion Holder requests consultation with respect
to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to a Serviced
Whole Loan, and consider alternative actions recommended by such related Companion Holder; provided that after the expiration
of a period of ten (10) Business Days from the delivery to such related Companion Holder by the Master Servicer or the applicable
Special Servicer, as the case may be, of written notice of a proposed action, together with copies of the notice, information and
report required to be provided to the Controlling Class Certificateholder, the Master Servicer or the applicable Special Servicer,
as the case may be, shall no longer be obligated to consult with such related Companion Holder, whether or not such related Companion
Holder has responded within such ten (10) Business Day period (unless, such Master Servicer or Special Servicer proposes a new
course of action that is materially different from the action previously proposed, in which case such ten (10) Business Day period
shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding
the consultation rights of the related Companion Holder set forth in the immediately preceding sentence, such Master Servicer or
Special Servicer may make any Major Decision or take any action set forth in the Asset Status Report before the expiration of the
aforementioned ten (10) Business Day period if such Master Servicer or Special Servicer determines that immediate action with respect
thereto is necessary to protect the interests of the Certificateholders and the related Companion Holder. In no event shall the
Master Servicer or the applicable Special Servicer be obligated at any time to follow or take any alternative actions recommended
by the related Companion Holder.

 

(f)       In
addition to the consent and consultation rights of the holder of a Serviced Pari Passu Companion Loan provided in the immediately
preceding paragraph, such Companion Holder shall have the right to attend (in person or telephonically, in the discretion of the
Master Servicer or applicable Special Servicer, as the case may be) annual meetings with the Master Servicer or the applicable
Special Servicer at the offices of the Master Servicer or such Special Servicer, as applicable, upon reasonable notice and at times
reasonably acceptable to the Master Servicer or such Special Servicer, as applicable, in which servicing issues related to the
related Whole Loan are discussed.

 

(g)       With
respect to any Serviced Whole Loan, the applicable Special Servicer shall not modify, waive or amend the terms of the related Co-Lender
Agreement such that the

 

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monthly remittance to the holder of the related Companion Loan is required earlier than 2 Business Days
after receipt by the Master Servicer of properly identified and available funds constituting the related Periodic Payment without
the consent of the Master Servicer.

 

Section
3.25     Rating Agency Confirmation. (a) Notwithstanding the terms of any related Mortgage Loan documents or other
provisions of this Agreement, if any action under any Mortgage Loan documents or this Agreement requires Rating Agency
Confirmation as a condition precedent to such action, if the party (the “RAC Requesting Party”) required
to obtain such Rating Agency Confirmation from each Rating Agency has made a request to any Rating Agency for such Rating
Agency Confirmation and, within ten (10) Business Days of the Rating Agency Confirmation request being posted to the 17g-5
Information Provider’s Website, such Rating Agency has not replied to such request or has responded in a manner that
indicates that such Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency
Confirmation, then such RAC Requesting Party shall be required to confirm (through direct communication and not by posting
any confirmation on the 17g-5 Information Provider’s Website) that the applicable Rating Agency has received the Rating
Agency Confirmation request, and, if it has, promptly request the related Rating Agency Confirmation again. The circumstances
described in the preceding sentence are referred to in this Agreement as a “RAC No-Response Scenario.”
Once the RAC Requesting Party has sent a request for a Rating Agency Confirmation to the 17g-5 Information Provider, such RAC
Requesting Party may, but shall not be obligated to, send such request directly to the Rating Agencies in accordance with the
procedure and timeframes set forth in Section 13.10(d).

 

If there is no response
to such Rating Agency Confirmation request within five (5) Business Days of such second request in a RAC No-Response Scenario or
if such Rating Agency has responded in a manner that indicates such Rating Agency is neither reviewing such request nor waiving
the requirement for Rating Agency Confirmation, then (x) with respect to any condition in any Mortgage Loan document requiring
such Rating Agency Confirmation or with respect to any other matter under this Agreement relating to the servicing of the Mortgage
Loans and the Trust Subordinate Companion Loans (other than as set forth in clause (y) below), the requirement to obtain
a Rating Agency Confirmation shall be deemed not to apply (as if such requirement did not exist) with respect to such Rating Agency
and the Master Servicer or the applicable Special Servicer, as the case may be, may then take such action if the Master Servicer
or the applicable Special Servicer, as applicable, confirms its original determination (made prior to making such request) that
taking the action with respect to which it requested the Rating Agency Confirmation would still be consistent with the Servicing
Standard, and (y) with respect to a replacement of the Master Servicer or the applicable Special Servicer, such condition shall
be deemed not to apply (as if such requirement did not exist) if (i) it has been appointed and currently serves as a master servicer
or special servicer on a transaction-level basis on a transaction currently rated by Moody’s that currently has securities
outstanding and for which Moody’s has not cited servicing concerns of the applicable replacement as the sole or a material
factor in such rating action or any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a rating downgrade or withdrawal) of securities in a commercial mortgage-backed securitization transaction
serviced by the applicable replacement master servicer or special servicer prior to the time of determination, if Moody’s
is the non-responding Rating Agency, (ii) the applicable replacement master servicer or special servicer is rated at least “CMS3”
(in the case of the master servicer) or “CSS3” (in the case of

 

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the special servicer), if Fitch is the non-responding
Rating Agency (iii) KBRA has not cited servicing concerns of the applicable replacement master servicer or special servicer, as
applicable, as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch
status” in contemplation of a ratings downgrade or withdrawal) of securities in any other commercial mortgage-backed securitization
transaction serviced by the applicable replacement master servicer or special servicer prior to the time of determination, if KBRA
is the non-responding Rating Agency or (iv) it is listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage
Master Servicer or U.S. Commercial Mortgage Special Servicer, as applicable, if S&P is the non-responding Rating Agency.

 

Any Rating Agency Confirmation
request made by the Master Servicer, Special Servicers, Certificate Administrator or Trustee, as applicable, pursuant to this Agreement,
shall be made in writing, which writing shall contain a cover page indicating the nature of the Rating Agency Confirmation request,
and shall contain all back-up material necessary for the Rating Agency to process such request. Such written Rating Agency Confirmation
request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5 Information Provider shall post
such request on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

Promptly following the
Master Servicer’s or the applicable Special Servicer’s determination to take any action discussed in this Section
3.25(a) following any requirement to obtain a Rating Agency Confirmation being deemed not to apply (as if such requirement
did not exist), the Master Servicer or such Special Servicer, as applicable, shall provide electronic written notice to the 17g-5
Information Provider of the action taken for the particular item at such time, and the 17g-5 Information Provider shall promptly
post such notice on the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

(b)       Notwithstanding
anything to the contrary in this Section 3.25, for purposes of the provisions of any Mortgage Loan document relating to
defeasance (including without limitation the type of collateral acceptable for use as defeasance collateral) or release or substitution
of any collateral, any Rating Agency Confirmation requirement in the Mortgage Loan documents for which the Master Servicer or the
applicable Special Servicer would have been permitted to waive obtaining or to make a determination with respect to such Rating
Agency Confirmation pursuant to Section 3.25(a) shall be deemed not to apply (as if such requirement did not exist).

 

(c)       For
all other matters or actions not specifically discussed in Section 3.25(a) above, the applicable RAC Requesting Party shall
deliver Rating Agency Confirmation from each Rating Agency.

 

(d)       With
respect to any Companion Loan as to which there exists Serviced Companion Loan Securities, if any action relating to the servicing
and administration of the related Mortgage Loan, the related Serviced Whole Loan or any related REO Property (including, but not
limited to, the replacement of the Master Servicer, the Special Servicer or a sub-servicer) (the “Relevant Action”)
requires delivery of a Rating Agency Confirmation as a condition precedent to such action pursuant to this Agreement, then, except
as set forth below in this paragraph, such action will also require delivery of a Companion Loan Rating Agency

 

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Confirmation as
a condition precedent to such action from each Companion Loan Rating Agency. Each Companion Loan Rating Agency Confirmation shall
be sought by the Master Servicer, Special Servicer, Trustee, Certificate Administrator, Controlling Class Representative or applicable
Certificateholders, as applicable, depending on whichever such party is seeking the corresponding Rating Agency Confirmation(s)
in connection with the Relevant Action. The requirement to obtain a Companion Loan Rating Agency Confirmation with respect to any
Serviced Companion Loan Securities will be subject to, and will be deemed not to apply on or deemed to be waived on, as applicable,
the same terms and conditions applicable to obtaining Rating Agency Confirmations, as set forth in this Agreement; provided,
that the Master Servicer, Special Servicer, Trustee, Certificate Administrator, Controlling Class Representative or applicable
Certificateholders, as applicable, depending on which is seeking the subject Companion Loan Rating Agency Confirmation, shall forward
to one or more of its counterpart (i.e., the master servicer, special servicer, trustee or certificate administrator, if and as
applicable), the Rule 17g-5 information provider for the Other Securitization Trust, or such other party or parties (as are agreed
to by the Master Servicer, Special Servicer, Trustee, Certificate Administrator, Controlling Class Representative or applicable
Certificateholders, as applicable, and the applicable parties for the related Other Securitization Trust), at the expense of the
Other Securitization Trust to the extent not borne by the related Mortgagor, and in such format as the sender and recipient may
reasonably agree, (i) the request for such Companion Loan Rating Agency Confirmation at least two (2) Business Days before it is
sent to the applicable Companion Loan Rating Agency, (ii) all materials forwarded to the Depositor under this Agreement for posting
on the Depositor’s 17g-5 Website in connection with seeking the Rating Agency Confirmation(s) for the applicable Relevant
Action at approximately the same time that such materials are forwarded to the Depositor, and (iii) any other materials that the
applicable Companion Loan Rating Agency may reasonably request in connection with such Companion Loan Rating Agency Confirmation
promptly following such request.

 

Section
3.26     The Operating Advisor. (a) The Operating Advisor shall promptly review (i) all information made available to
Privileged Persons on the Certificate Administrator’s Website (A) that relates to any Specially Serviced Mortgage Loan,
and (B) that is contained in the CREFC® Servicer Watch List prepared by the Master Servicer and (ii) each
Final Asset Status Report delivered to the Operating Advisor by the applicable Special Servicer.

 

(b)       The
Operating Advisor and its Affiliates will be obligated to keep confidential any information appropriately labeled as “Privileged
Information” received from the applicable Special Servicer or Directing Holder in connection with the Directing Holder’s
exercise of its rights under this Agreement (including, without limitation, in connection with the review and/or approval of any
Asset Status Report), subject to any law, rule, regulation, order, judgment or decree requiring the disclosure of such Privileged
Information. Subject to the terms and conditions in this Agreement related to Privileged Information, the Operating Advisor agrees
that it shall use information received from the applicable Special Servicer pursuant to the terms of this Agreement solely for
purposes of complying with its duties and obligations hereunder.

 

With respect to the determination
of whether a Control Termination Event or Consultation Termination Event has occurred and is continuing, or has terminated, the
Operating Advisor is entitled to rely solely on its receipt from the Certificate Administrator of notice there of pursuant to this
Agreement, and, with respect to any obligations of the Operating Advisor that

 

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are performed only after the occurrence and continuance
of a Control Termination Event and/or Consultation Termination Event, the Operating Advisor shall have no obligation to perform
any such duties until the receipt of such notice or actual knowledge of the occurrence of a Control Termination Event or Consultation
Termination Event, as applicable.

 

(c)       (i)
After the occurrence and during the continuance of a Control Termination Event, based on the Operating Advisor’s review of
any assessment of compliance report, attestation report, Asset Status Report and other information (other than any communications
between the Directing Certificateholder and the applicable Special Servicer that would be Privileged Information) delivered to
the Operating Advisor by such Special Servicer, including each Asset Status Report delivered during the prior calendar year, the
Operating Advisor shall (if any Mortgage Loans were Specially Serviced Mortgage Loans during the prior calendar year) deliver to
the Certificate Administrator and the 17g-5 Information Provider within one hundred-twenty (120) days of the end of the prior calendar
year for which a Control Termination Event was continuing as of December 31, an annual report (the “Operating Advisor
Annual Report”), substantially in the form of Exhibit V (which form may be modified or altered as to either its
organization or content by the Operating Advisor, subject to compliance of such form with the terms and provisions of this Agreement
including, without limitation, provisions herein relating to Privileged Information; provided, however, that in no
event shall the information or any other content included in the Operating Advisor Annual Report contravene any provision of this
Agreement), setting forth the Operating Advisor’s assessment of the applicable Special Servicer’s performance of its
duties under this Agreement during the prior calendar year on a “platform-level basis” with respect to the resolution
and/or liquidation of Specially Serviced Mortgage Loans that the applicable Special Servicer is responsible for servicing under
this Agreement; provided, further, however, that in the event the applicable Special Servicer is replaced,
the Operating Advisor Annual Report shall only relate to such Special Servicer that was acting as Special Servicer as of December
31 in the prior calendar year and is continuing in such capacity through the date of such Operating Advisor Annual Report. Notwithstanding
the foregoing, with respect to any Serviced AB Whole Loan, no Operating Advisor Annual Report will be permitted to include an assessment
of the applicable Special Servicer’s performance in respect of such Serviced AB Whole Loan until after the occurrence and
during the continuance of a Non-Trust Subordinate Companion Loan Control Termination Event under the related Co-Lender Agreement.
Subject to the restrictions in this Agreement, including, without limitation, Section 3.26(d) hereof, each such Operating
Advisor Annual Report shall (A) identify any material deviations (i) from the Servicing Standard and (ii) from the applicable special
servicer’s obligations under this Agreement with respect to the resolution or liquidation of Specially Serviced Mortgage
Loans or REO Properties that the applicable Special Servicer is responsible for servicing under this Agreement (other than with
respect to any REO Property related to a Non-Serviced Mortgage Loan) and (B) comply with all of the confidentiality requirements
described in this Agreement regarding Privileged Information (subject to any permitted exceptions). Such Operating Advisor Annual
Report shall be delivered to the Certificate Administrator (which shall promptly post such Operating Advisor Annual Report on the
Certificate Administrator’s Website in accordance with Section 3.13(b)) and the 17g-5 Information Provider (which
shall promptly post such Operating Advisor Annual Report on the 17g-5 Information Provider’s Website in accordance with Section
3.13(c)); provided, however, that the applicable Special Servicer shall be given an opportunity to review the
Operating Advisor Annual Report at least five (5) Business Days prior to its delivery to the

 

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Certificate Administrator and the
17g-5 Information Provider. The Operating Advisor shall have no obligation to adopt any comments to the Operating Advisor Annual
Report that are provided by the applicable Special Servicer. Only as used in this Section 3.26 in connection with the Operating
Advisor Annual Report, the term “platform-level basis” refers to the applicable Special Servicer’s performance
of its duties as they relate to the resolution and/or liquidation of Specially Serviced Mortgage Loans, taking into account the
applicable Special Servicer’s specific duties under this Agreement as well as the extent to which those duties were performed
in accordance with the Servicing Standard, with reasonable consideration by the Operating Advisor of any assessment of compliance
report, attestation report, Asset Status Report and other information delivered to the Operating Advisor by the applicable Special
Servicer (other than any communications between the Controlling Class Representative, the Directing Holder and such Special Servicer
that would be Privileged Information) pursuant to this Agreement. Notwithstanding the foregoing, no Operating Advisor Annual Report
shall be required from the Operating Advisor with respect to any calendar year as to which no Asset Status Report was prepared
by the applicable Special Servicer in connection with a Specially Serviced Loan or REO Property.

 

(ii)       In
the event the Operating Advisor’s ability to perform its obligations in respect of the Operating Advisor Annual Report is
limited or prohibited due to the failure of a party hereto to timely deliver information required to be delivered to the Operating
Advisor or because such information is inaccurate or incomplete, the Operating Advisor shall set forth such limitations or prohibitions
in the related Operating Advisor Annual Report, and the Operating Advisor shall not be subject to any liability arising from such
limitations or prohibitions. The Operating Advisor shall be entitled to conclusively rely on the accuracy and completeness of any
information it is provided without liability for any such reliance hereunder. In the event a lack of access to Privileged Information
limits or prohibits the Operating Advisor from performing its duties under this Agreement, the Operating Advisor shall not be subject
to any liability arising from its lack of access to Privileged Information.

 

(d)       Prior
to the occurrence and continuance of a Control Termination Event, the applicable Special Servicer will forward any Appraisal Reduction
Amount and net present value calculations used in the applicable Special Servicer’s determination of what course of action
to take in connection with the workout or liquidation of a Specially Serviced Mortgage Loan to the Operating Advisor after such
calculations have been finalized. The Operating Advisor shall review such calculations but shall not opine on or take any affirmative
action with respect to such Appraisal Reduction Amount calculations and/or net present value calculations.

 

(e)       (i)
After the occurrence and during the continuance of a Control Termination Event, after the calculation but prior to the utilization
by the applicable Special Servicer of any of the calculations related to (i) Appraisal Reduction Amounts or (ii) net present value
in accordance with Section 1.02(iv), the applicable Special Servicer shall forward such calculations, together with any
supporting material or additional information necessary in support thereof (including such additional information reasonably requested
by the Operating Advisor to confirm the mathematical accuracy of such calculations, but not including any Privileged Communications),
to the Operating Advisor promptly, but in any event no later than two (2) Business Days after preparing such calculations, and
the Operating Advisor shall

 

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promptly, but no later than three (3) Business Days after receipt of such calculations and any supporting
or additional materials, recalculate and verify the accuracy of the mathematical calculations and the corresponding application
of the non-discretionary portion of the applicable formulas required to be utilized in connection with any such calculation.

 

(ii)       In
connection with this Section 3.26(e), in the event the Operating Advisor does not agree with the mathematical calculations
of the Appraisal Reduction Amount (as calculated by the applicable Special Servicer) or net present value or the application of
the applicable non-discretionary portions of the formula required to be utilized for such calculation, the Operating Advisor and
applicable Special Servicer shall consult with each other in order to resolve any inaccuracy in the mathematical calculations or
the application of the non-discretionary portions of the related formula in arriving at those mathematical calculations or any
disagreement within five (5) Business Days of delivery of such calculations. The Master Servicer shall cooperate with such Special
Servicer and provide any information reasonably requested by such Special Servicer necessary for the calculation of the Appraisal
Reduction Amount that is in the Master Servicer’s possession or reasonably obtainable by the Master Servicer. In the event
the Operating Advisor and the applicable Special Servicer are not able to resolve such inaccuracies or disagreement prior to the
end of such five (5) Business Day period, the Operating Advisor shall promptly notify the Certificate Administrator of such disagreement
and the Certificate Administrator shall examine the calculations and supporting materials provided by the Operating Advisor and
the applicable Special Servicer and determine which calculation is to apply (and shall provide prompt written notice of such determination
to the Operating Advisor and the applicable Special Servicer).

 

(f)       Notwithstanding
the foregoing, the Operating Advisor shall have no specific involvement with respect to collateral substitutions, assignments,
workouts, modifications, consents, waivers, insurance policies, mortgagor substitutions, lease changes or other similar actions
that the applicable Special Servicer may perform under this Agreement.

 

(g)       The
Operating Advisor and its Affiliates shall keep all information appropriately labeled as “Privileged Information” confidential
and shall not disclose such information to any other Person (including any Certificateholders which are not then included in the
Control Eligible Certificates, other than the Controlling Class Representative), other than any party hereto, to the extent expressly
set forth herein, and the Operating Advisor shall not, without the prior written consent of the applicable Special Servicer disclose
any such Privileged Information to any other Person, except to the extent that (i) such Privileged Information becomes generally
available and known to the public other than as a result of a disclosure directly or indirectly by such parties, (ii) it is reasonable
and necessary for such parties to do so in working with legal counsel, auditors, taxing authorities or other governmental agencies,
(iii) such Privileged Information was already known to such party and otherwise not subject to a confidentiality obligation or
(iv) such disclosure is required pursuant to any law, rule, regulation, order, judgment or decree requiring the disclosure of such
Privileged Information, as evidenced by an Opinion of Counsel (which shall be an expense of the Trust) delivered to the Master
Servicer, the Operating Advisor, the Certificate Administrator, the applicable Special Servicer the Directing Holder and the Trustee.
Notwithstanding the foregoing, the Operating Advisor shall be permitted to share Privileged Information with its Affiliates and
any subcontractors of

 

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the Operating Advisor that agree in writing to be bound by the same confidentiality provisions applicable
to the Operating Advisor.

 

(h)       Subject
to the requirements of confidentiality imposed on the Operating Advisor herein (including without limitation in respect of Privileged
Information), the Operating Advisor shall respond to Inquiries proposed by Privileged Persons from time to time in accordance with
the terms of Section 4.07(a).

 

(i)       As
compensation for its activities hereunder, the Operating Advisor shall be entitled to receive the Operating Advisor Fee on each
Remittance Date with respect to each Mortgage Loan (including the Serviced Mortgage Loans and the Non-Serviced Mortgage Loans but
not any Companion Loan other than a Trust Subordinate Companion Loan), each REO Loan and Trust Subordinate Companion Loan. As to
each Mortgage Loan, each REO Loan and Trust Subordinate Companion Loan, the Operating Advisor Fee shall accrue from time to time
at the Operating Advisor Fee Rate and shall be computed on the basis of the Stated Principal Balance of such Mortgage Loan, REO
Loan or Trust Subordinate Companion Loan, as the case may be, and in the same manner as interest is calculated on the related Mortgage
Loan, REO Loan or Trust Subordinate Companion Loan, as the case may be, and, in connection with any partial month interest payment,
for the same period respecting which any related interest payment due on the related Mortgage Loan or Trust Subordinate Companion
Loan or deemed to be due on such REO Loan is computed. The Operating Advisor Fee shall be payable from funds on deposit in the
Collection Account as provided in Section 3.05 of this Agreement.

 

The Operating Advisor
shall be entitled to reimbursement of any Operating Advisor Expenses provided for pursuant to Section 6.04(a) and/or 6.04(b)
hereof, such amounts to be reimbursed from amounts on deposit in the Collection Account as provided by Section 3.05(a).
Each successor Operating Advisor shall be required to acknowledge and agree to the terms of the preceding sentence.

 

In addition, the Operating
Advisor Consulting Fee shall be payable to the Operating Advisor with respect to each Major Decision for which the Operating Advisor
has consultation obligations hereunder. The Operating Advisor Consulting Fee shall be payable from funds on deposit in the Collection
Account as provided in Section 3.05(a)(ii) of this Agreement, but only to the extent such Operating Advisor Consulting Fee
is actually received from the related Mortgagor; provided, that for so long as a Consultation Termination Event is continuing,
if the related Mortgagor fails to pay the Operating Advisor Consulting Fee, then such fee will be paid out of general collections.
When the Operating Advisor has consultation obligations with respect to a Major Decision under this Agreement, the Master Servicer
or the applicable Special Servicer, as the case may be, shall use commercially reasonable efforts consistent with the Servicing
Standard to collect the applicable Operating Advisor Consulting Fee from the related Mortgagor in connection with such Major Decision,
but only to the extent not prohibited by the related Mortgage Loan documents. The Master Servicer or applicable Special Servicer,
as the case may be, may waive or reduce the amount of any Operating Advisor Consulting Fee payable by the related Mortgagor if
it determines that such full or partial waiver is in accordance with the Servicing Standard, but in no event shall the Master Servicer
or such Special Servicer take any enforcement action with respect to the collection of such Operating Advisor Consulting Fee other
than requests for collection; provided that the Master Servicer or

 

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such Special Servicer, as applicable, shall consult,
on a non-binding basis, with the Operating Advisor prior to any such waiver or reduction. Notwithstanding the foregoing, the Operating
Advisor shall have no obligations or consultation rights with respect to: (i) any Non-Serviced Whole Loan or any related REO Property
or (ii) with respect to any AB Mortgage Loan, prior to the occurrence and continuance of both an Trust Subordinate Companion Loan
Control Termination Event and a Control Termination Event; provided, further, that the Operating Advisor shall not
be entitled to an Operating Advisor Consulting Fee with respect to any Non-Serviced Whole Loan.

 

(j)       Upon
(i) the written direction of Holders of Non-Reduced Certificates evidencing not less than 15% of the Voting Rights of the Non-Reduced
Certificates requesting a vote to terminate and replace the Operating Advisor with a proposed successor Operating Advisor provided
that the proposed successor Operating Advisor is an Eligible Operating Advisor) and (ii) payment by such Holders to the Certificate
Administrator of the reasonable fees and expenses to be incurred by the Certificate Administrator in connection with administering
such vote, the Certificate Administrator shall promptly provide written notice to all Certificateholders and the Operating Advisor
of such request by posting such notice on the Certificate Administrator’s Website in accordance with Section 3.13(b),
and concurrently by mail. Upon the written direction of holders of more than 50% of the Voting Rights of the Non-Reduced Certificates
that exercise their right to vote (provided that holders of at least 50% of the Voting Rights of the Non-Reduced Certificates exercise
their right to vote), the Trustee will terminate all of the rights and obligations of the Operating Advisor under this Agreement
(other than any rights or obligations that accrued prior to the date of such termination (including accrued and unpaid compensation)
and other than indemnification rights (arising out of events occurring prior to such termination)) by written notice to the Operating
Advisor, and the proposed successor operating advisor will be appointed.

 

(k)       After
the occurrence of an Operating Advisor Termination Event, the Trustee may, and upon the written direction of Certificateholders
representing at least 25% of the Voting Rights (taking into account the application of any Appraisal Reduction Amounts to notionally
reduce the Certificate Balance of the Classes of Certificates), the Trustee shall promptly terminate the Operating Advisor for
cause and appoint a replacement Operating Advisor that is an Eligible Operating Advisor; provided, that no such termination
shall be effective until a successor Operating Advisor has been appointed and has assumed all of the obligations of the Operating
Advisor under this Agreement. No such termination shall terminate, change, reduce or otherwise modify the rights and obligations
of the Operating Advisor that accrued prior to such termination, including the rights to receive all amounts accrued and owing
to it under this Agreement, and other than indemnification rights (arising out of events occurring prior to such termination).
The Trustee may rely on a certification by the replacement Operating Advisor that it is an Eligible Operating Advisor. Upon any
termination of the Operating Advisor and appointment of a successor to the Operating Advisor, the Trustee will, as soon as possible,
be required to give written notice of the termination and appointment to the applicable Special Servicer, the Master Servicer,
the Certificate Administrator, the 17g-5 Information Provider, the Depositor, the Controlling Class Representative (for any Mortgage
Loan other than an Excluded Loan and only if no Consultation Termination Event has occurred) and the Certificateholders.

 

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(l)       The
holders of certificates representing at least 25% of the Voting Rights affected by any Operating Advisor Termination Event hereunder
may waive such Operating Advisor Termination Event within twenty (20) days of the receipt of notice from the certificate administrator
of the occurrence of such Operating Advisor Termination Event. Upon any such waiver of an Operating Advisor Termination Event,
such Operating Advisor Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose hereunder.
Upon any such waiver of an Operating Advisor Termination Event by certificateholders, the trustee and the certificate administrator
shall be entitled to recover all costs and expenses incurred by it in connection with enforcement action taken with respect to
such Operating Advisor Termination Event prior to such waiver from the Trust.

 

(m)       Prior
to the occurrence and continuance of a Control Termination Event, the Controlling Class Representative shall have the right to
consent, such consent not to be unreasonably withheld, conditioned or delayed, to the identity of any replacement Operating Advisor
appointed pursuant to this Section 3.26; provided, further, that such consent will be deemed to have been
granted if no objection is made within ten (10) Business Days following the Controlling Class Representative’s receipt of
the request for consent and, if granted or deemed granted, such consent cannot thereafter be revoked or withdrawn.

 

(n)       The
Operating Advisor may resign from its obligations and duties hereby imposed on it (a) upon thirty (30) days prior written notice
to the Depositor, the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator, the Asset Representations
Reviewer and the Controlling Class Representative, if applicable, and (b) upon the appointment of, and the acceptance of such appointment
by, a successor Operating Advisor that is an Eligible Operating Advisor and receipt by the Trustee of Rating Agency Confirmation
from each Rating Agency. No such resignation by the Operating Advisor shall become effective until the replacement Operating Advisor
shall have assumed the resigning Operating Advisor’s responsibilities and obligations. The resigning Operating Advisor shall
pay all costs and expenses (including costs and expenses incurred by the Trustee and the Certificate Administrator) associated
with a transfer of its duties pursuant to this Section 3.26.

 

In addition, the Operating
Advisor has the right to resign without cost or expense on or after any date on which the aggregate Stated Principal Balance of
the Mortgage Loans remaining in the issuing entity is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage
Loans as of the Cut-off Date. The Operating Advisor will provide all of the parties to this Agreement and the Directing Holder
30 days prior written notice of any such resignation. If the Operating Advisor resigns pursuant to the foregoing, then no replacement
operating advisor will be appointed. The resigning Operating Advisor will be entitled to any rights and subject to any obligations
that accrued under this Agreement prior to the date of any such resignation (including accrued and unpaid compensation) and any
indemnification rights arising out of events occurring prior to its resignation.

 

(o)       In
the event there are no Classes of Certificates outstanding other than the Control Eligible Certificates and the Class R Certificates,
then all of the rights and obligations of the Operating Advisor shall terminate without payment of any termination fee (other than
any rights or obligations that accrued prior to the date of such termination (including accrued and unpaid compensation) and other
than indemnification rights arising out of events occurring prior

 

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to such termination). In connection with any termination pursuant
to this Section 3.26(o), no successor Operating Advisor shall be appointed. Upon receipt of written notice of such acts
by a Responsible Officer of the Trustee, the Trustee shall provide the Operating Advisor with prompt notice upon its termination
pursuant to this Section 3.26(o).

 

(p)       In
the event the Operating Advisor resigns or is otherwise terminated for any reason it shall remain entitled to any accrued and unpaid
Operating Advisor Fees and Operating Advisor Consulting Fees and reimbursement of accrued and unpaid Operating Advisor Expenses
pursuant to Section 3.26(i) and shall also remain entitled to any rights of indemnification provided hereunder.

 

(q)       The
parties hereto agree, and the Certificateholders by their acceptance of their Certificates shall be deemed to have agreed, that
(i) subject to Section 6.04, the Operating Advisor shall have no liability to any Certificateholder for any actions taken
or for refraining from taking any actions under this Agreement, (ii) the Operating Advisor shall act solely as a contracting party
to the extent set forth in this Agreement, (iii) the Operating Advisor shall have no (A) fiduciary duty, or (B) other duty except
with respect to its specific obligations under this Agreement, and shall have no duty to any particular Class of Certificates or
particular Certificateholders, and (iv) the Operating Advisor does not constitute an “investment adviser” within the
meaning of the Investment Advisers Act of 1940, as amended.

 

(r)       The
Operating Advisor shall not make any investment in any Class of Certificates; provided, however, that such prohibition
shall not apply to (i) riskless principal transactions effected by a broker-dealer Affiliate of the Operating Advisor or (ii) investments
by an Affiliate of the Operating Advisor if the Operating Advisor and such Affiliate maintain policies and procedures that (A)
segregate personnel involved in the activities of the Operating Advisor under this Agreement from personnel involved in such Affiliate’s
investment activities and (B) prevent such Affiliate and its personnel from gaining access to information regarding the Trust and
the Operating Advisor and its personnel from gaining access to such Affiliate’s information regarding its investment activities.

 

Section
3.27     Companion Paying Agent. (a) With respect to each of the Serviced Companion Loans, the Master Servicer shall be
the Companion Paying Agent hereunder. The Companion Paying Agent undertakes to perform such duties and only such duties as
are specifically set forth in this Agreement.

 

(b)       No
provision of this Agreement shall be construed to relieve the Companion Paying Agent from liability for its negligent failure to
act, bad faith or its own willful misfeasance; provided, however, that the duties and obligations of the Companion
Paying Agent shall be determined solely by the express provisions of this Agreement. The Companion Paying Agent shall not be liable
except for the performance of such duties and obligations, no implied covenants or obligations shall be read into this Agreement
against the Companion Paying Agent. In the absence of bad faith on the part of the Companion Paying Agent, the Companion Paying
Agent may conclusively rely, as to the truth and correctness of the statements or conclusions expressed therein, upon any resolutions,
certificates, statements, opinions, reports, documents, orders or other instrument furnished to the Companion Paying Agent by any
Person and which on their face do not contradict the requirements of this Agreement.

 

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(c)       In
the case of each of the Serviced Companion Loans, upon the resignation or removal of the Master Servicer pursuant to Article
VII of this Agreement, the Master Servicer, as the Companion Paying Agent, shall be deemed simultaneously to resign or be removed.

 

(d)       This
Section 3.27 shall survive the termination of this Agreement or the resignation or removal of the Companion Paying Agent,
as regards to rights accrued prior to such resignation or removal.

 

Section
3.28     Companion Register. The Companion Paying Agent shall
maintain a register (the “Companion Register”) with respect to each Serviced Companion Loan on which it
will record the names and address of, and wire transfer instructions for, the Companion Holders from time to time, to the
extent such information is provided in writing to it by each Companion Holder. The initial Companion Holders, along with
their respective name and address, are listed on Exhibit S hereto. In the event a Companion Holder transfers a
Companion Loan without notice to the Companion Paying Agent, the Companion Paying Agent shall have no liability for any
misdirected payment in such Companion Loan and shall have no obligation to recover and redirect such payment.

 

The Companion Paying
Agent shall promptly provide the name and address of the Companion Holder to any party hereto or any successor Companion Holder
upon written request and any such Person may, without further investigation, conclusively rely upon such information. The Companion
Paying Agent shall have no liability to any Person for the provision of any such name and address.

 

For the avoidance of
doubt, any notices or information required to be delivered pursuant to this Agreement by any party hereto to a Companion Holder
with respect to a Companion Loan that has been included in an Other Securitization shall be provided to the Other Servicer (which,
unless required by the related Intercreditor Agreement to be sent to additional parties, shall be satisfied by the delivery to
the “master servicer” under the related Other Pooling and Servicing Agreement) under the Other Pooling and Servicing
Agreement.

 

Section
3.29     Certain Matters Relating to the Non-Serviced Mortgage Loans. (a) In the event that any of the applicable
Non-Serviced Trustee, the applicable Non-Serviced Master Servicer or the applicable Non-Serviced Special Servicer shall be
replaced in accordance with the terms of the applicable Non-Serviced Pooling Agreement, the Master Servicer and the
applicable Special Servicer shall acknowledge its successor as the successor to the applicable Non-Serviced Trustee, the
applicable Non-Serviced Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be.

 

(b)       If
any of the Trustee, the Certificate Administrator or the Master Servicer receives notice from a Rating Agency that the Master Servicer
is no longer an “approved” master servicer by any of the Rating Agencies rating the Certificates, then the Trustee,
the Certificate Administrator or the Master Servicer, as applicable, shall promptly notify each Non-Serviced Master Servicer of
the same.

 

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(c)       In
connection with the securitization of each Serviced Pari Passu Companion Loan, (in each case, only while it is a Serviced Companion
Loan), upon the request of (and at the expense of) the related Serviced Companion Noteholder (or its designee), each of the Master
Servicer, the applicable Special Servicer and the Trustee, as applicable, shall use reasonable efforts to cooperate with such Serviced
Companion Noteholder in attempting to cause the related Mortgagor to provide information relating to such Whole Loan and the related
notes, and that such holder reasonably determines to be necessary or appropriate, for inclusion in any disclosure document(s) relating
to such Other Securitization.

 

(d)       In
connection with the sale of any Non-Serviced Whole Loan by any Non-Serviced Special Servicer, upon receipt of any notices or materials
required to be furnished by the Non-Serviced Special Servicer to the holder of the related Non-Serviced Mortgage Loan pursuant
to the related Co-Lender Agreement, the applicable Special Servicer shall, prior to the occurrence and continuance of a Control
Termination Event, forward such materials to the Controlling Class Representative for its consent, if such consent is required.
The applicable Special Servicer may (with the consent of the Controlling Class Representative prior to the occurrence and continuance
of a Control Termination Event) waive any timing or delivery requirements related to such sale to the extent set forth in the related
Co-Lender Agreement.

 

(e)       With
respect to any Non-Serviced Mortgage Loan, the Controlling Class Representative, prior to the occurrence and continuance of a Control
Termination Event, or the Operating Advisor, following the occurrence and during the continuance of a Control Termination
Event, shall be entitled to exercise any consultation rights held by the holder of such Mortgage Loan in its capacity as a “Non-Controlling
Note Holder” (or similar term identified in the related Co-Lender Agreement) under the related Co-Lender Agreement.

 

(f)       With
respect to the servicing of each Non-Serviced Mortgage Loan, this Agreement is subject to the related Co-Lender Agreement and incorporates
by reference all provisions required to be included herein pursuant to such Co-Lender Agreement.

 

Section
3.30     Delivery of Excluded Information to the Certificate Administrator. (a) Any Excluded Information that the
Master Servicer, a Special Servicer or the Operating Advisor identifies and delivers to the Certificate Administrator for
posting to the Certificate Administrator’s Website shall be delivered to the Certificate Administrator via e-mail (or
such other electronic means as is mutually acceptable to the parties) in one or more separate files labeled “Excluded
Information” followed by the applicable loan name and loan file to cmbsexcludedinformation@wellsfargo.com. For the
avoidance of doubt, any information that is not appropriately labeled and delivered in accordance with this Section
3.30(a) shall not be separately posted as Excluded Information on the Certificate Administrator’s Website, and any
information appropriately labeled and delivered to the Certificate Administrator pursuant to this Section 3.30(a)
shall be posted on the Certificate Administrator’s Website under the “Excluded Information” section, as
provided under Section 3.13. When so posted, the Excluded Controlling Class Holders shall be prohibited from the
access of Excluded Information with respect to any Excluded Controlling Class Loans on the Certificate Administrator’s
Website (unless a loan-by-loan segregation is later performed by the Certificate Administrator in which case such access
shall only be prohibited with respect to the related Excluded Controlling Class Loans). None of the Master Servicer, the
applicable Special Servicer or the Operating Advisor shall have any

 

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obligations to separately label and deliver any
Excluded Information in accordance with this Section 3.30(a) until such party has received written notice with respect
to the related Excluded Controlling Class Loan in the form of Exhibit P-1E to this Agreement. Nothing set forth in
this Agreement shall prohibit the Directing Holder or any Controlling Class Certificateholder from receiving, requesting or
reviewing any Excluded Information relating to any Excluded Controlling Class Loan with respect to which the Directing Holder
or such Controlling Class Certificateholder is not a Borrower Party and, if such Excluded Information is not available to
such Excluded Controlling Class Holder on the Certificate Administrator’s Website on account of it constituting
Excluded Information, such Directing Holder or Controlling Class Certificateholder that is not a Borrower Party with respect
to the related Excluded Controlling Class Loan shall be permitted to reasonably request and obtain such information in
accordance with Section 3.13(a).

 

(b)       Nothing
set forth in this Agreement shall prohibit the Directing Holder or any Controlling Class Certificateholder from receiving, requesting
or reviewing any Excluded Information relating to any Excluded Controlling Class Loan with respect to which the Directing Holder
or such Controlling Class Certificateholder is not a Borrower Party and, if such Excluded Information is not available to such
Excluded Controlling Class Holder via the Certificate Administrator’s Website on account of it constituting Excluded Information,
such Directing Holder or Controlling Class Certificateholder that is not a Borrower Party with respect to the related Excluded
Controlling Class Loan shall be permitted to reasonably request and obtain such information in accordance with Section 4.02(f)
of this Agreement.

 

Section
3.31     Trust Subordinate Companion Loan. (a) With respect to a Trust Subordinate Companion Loan, references to
actions being taken for the benefit of such Trust Subordinate Companion Loan or in the best interests of the holders of the
related Loan-Specific Certificates in this Agreement shall be deemed to be taken (and subject to the same considerations)
also for the benefit of, or to be taken in the best interests of, the Holders of such Loan-Specific Certificates, as
beneficial owners of such Trust Subordinate Companion Loan.

 

(b)       Any
notices, reports or other information related to a Trust Subordinate Companion Loan required to be delivered by a party under this
Agreement or the related Co-Lender Agreement to the holders of the related Loan-Specific Certificates or the holders of such Trust
Subordinate Companion Loan shall be delivered (in lieu of delivery to such holders) to the related Loan-Specific Directing Holder
by such party within the same time periods as such notices, reports or other information are required to be delivered to the holder
of such Trust Subordinate Companion Loan.

 

(c)       Any
consents required to be obtained from the holder of a Trust Subordinate Companion Loan under this Agreement or the related Co-Lender
Agreement or any obligation under this Agreement or the related Co-Lender Agreement of the Master Servicer or the applicable Special
Servicer or other party to this Agreement to consult with or obtain the consent of or follow the direction of the holder of such
Trust Subordinate Companion Loan shall instead be deemed to require such Person to consult with, obtain the consent of or follow
the direction of the related Loan-Specific Directing Holder.

 

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(d)       Any
rights exercisable by the holder of a Non-Trust Subordinate Companion Loan under this Agreement or the related Co-Lender Agreement
with respect to the exercise of any right to replace the applicable Special Servicer with respect to the AMA Plaza Whole Loan,
cure rights, rights to post “threshold collateral” or purchase option rights shall be exercisable by the related Loan-Specific
Directing Holder prior to a related Non-Trust Subordinate Companion Loan Control Termination Event and any amounts payable, or
actions required to be taken in connection with such exercise, shall be payable from or taken by such Loan-Specific Directing Holder,
as applicable. In addition, with respect to the AMA Plaza Whole and 225 Bush Street Whole Loan, subject to the foregoing and applicable
REMIC Provisions, the applicable Loan-Specific Directing Holder may direct the Master Servicer or the applicable Special Servicer,
on behalf of the Trustee and the holders of the related Loan-Specific Certificates to implement the holder of such Non-Trust Subordinate
Companion Loan’s or the holders of the related Trust Subordinate Companion Loan’s, as applicable, exercise of any rights,
to the extent that each such holder is entitled to such rights under the related Co-Lender Agreement. For the avoidance of doubt,
in no event shall the Master Servicer or the applicable Special Servicer be required to advance any cure payment or purchase price
due under the related applicable Agreement.

 

(e)       Prior
to the applicable Special Servicer (i) obtaining the consent of, or consulting with a Loan-Specific Directing Holder to the extent
provided for under the related Co-Lender Agreement, (ii) delivering any Asset Status Report to such Loan-Specific Directing Holder,
or (iii) permitting the exercise of any cure rights in accordance with the related Co-Lender Agreement, such Loan-Specific Directing
Holder shall have delivered to the applicable Special Servicer an officer’s certificate in form and substance acceptable
to the applicable Special Servicer (with a copy to the Master Servicer), as applicable, stating such party is not the related Mortgagor
or an affiliate of the related Mortgagor or acting on behalf of the related Mortgagor or one or more of its Affiliates.

 

(f)       Subject
to Section 3.01(p), at any time the AMA Plaza Mortgage Loan or 225 Bush Street Mortgage Loan is not part of the Trust, the
Master Servicer or applicable Special Servicer shall have no obligation to service such Mortgage Loan and shall solely service
the related Trust Subordinate Companion Loan until such Trust Subordinate Companion Loan is removed from the Trust pursuant to
Section 3.31(g) and shall have no obligation to make any Advance with respect to such Trust Subordinate Companion Loan,
such related Mortgage Loan or the related AB Whole Loan.

 

(g)       Within
two (2) Business Days following the removal of the AMA Plaza Mortgage Loan or 225 Bush Street Mortgage Loan from the Trust as a
result of the sale of such Mortgage Loan, pursuant to Section 3.18, the Special Servicer shall provide written notice (an
“Exchange Election Notice”) to the Certificate Administrator who shall notify the related Loan-Specific Directing
Holder that the Holders of all of the related Loan-Specific Certificates may unanimously elect to exchange their Certificates for
the related Trust Subordinate Companion Loan (an “Exchange”) by delivery of written notice (an “Acceptance
Notice”) to the Depositor, Master Servicer, applicable Special Servicer, Certificate Administrator and Trustee within
5 Business Days of receipt of the Exchange Election Notice. In the event an Acceptance Notice is not delivered within such 5 Business
Days, the Special Servicer shall use commercially reasonable efforts to sell such Trust Subordinate Companion Loan, for the fair
value of such

 

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asset. The Holders of such class of Certificates shall pay (from their own funds and not from amounts allocable from
any portion of the Trust to such Class of Certificates) all costs and expenses of the Master Servicer, Special Servicer, the Certificate
Administrator and Trustee incurred in connection with the Exchange. The Exchange shall be subject to the reasonable procedures
established by the Trustee and Certificate Registrar in connection with the Exchange.

 

Section
3.32     Loan-Specific Directing Holder. (a) The Certificateholder(s) holding more than fifty
percent (50%) of the Certificate Balance of the AMA Plaza Loan-Specific Certificates or 225 Bush Street Controlling Class
Certificateholders, as applicable, shall have the right to appoint and replace (for any reason) the related Loan-Specific
Directing Holder.

 

(b)       The
Loan-Specific Directing Holder shall not have any liability to the Holders of the related Loan-Specific Certificates or any other
Certificateholders for any action taken, or for refraining from the taking of any action or the giving of any consent or failure
to give any consent in good faith pursuant to this Agreement or errors in judgment. By its acceptance of a Loan-Specific Certificate
or other Certificate, each holder of a Loan-Specific Certificate or other Certificate will be deemed to have confirmed its agreement
that such Loan-Specific Directing Holder may take or refrain from taking actions, or give or refrain from giving any consents,
that favor the interests of the appointing Certificateholder(s) over any other holder of such Class of Certificates or other Certificate,
and that such Loan-Specific Directing Holder may have special relationships and interests that conflict with the interests of other
Holders of such Class of Certificates or any other Certificates, will be deemed to have agreed to take no action against such Loan-Specific
Directing Holder or any of its officers, directors, employees, principals or agents as a result of such special relationships or
interests, and that any Loan-Specific Directing Holder will not be deemed to have been grossly negligent or reckless, or to have
acted in bad faith or engaged in willful misconduct or to have recklessly disregarded any exercise of its rights by reason of its
having acted or refrained from acting, or having given any consent or having failed to give any consent, solely in the interests
of the Holders of the related Loan-Specific Certificates.

 

(c)       Each
Holder of a Loan-Specific Certificate is hereby deemed to have agreed by virtue of its purchase of such a Certificate to provide
its name and address to the Certificate Administrator and to notify the Master Servicer, the Certificate Administrator, the applicable
Special Servicer and the Operating Advisor of the transfer of any such Certificate, the selection of a Loan-Specific Directing
Holder or the resignation or removal thereof, by delivering a notice to each such Person substantially in the form of Exhibit
TT-1 or Exhibit TT-2, as applicable, attached hereto (which notice shall include the contact information of the selected
Loan-Specific Directing Holder, if applicable).

 

(d)       With
respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan, the related Loan-Specific Directing Holder shall be entitled,
prior to the occurrence and continuance of a related Non-Trust Subordinate Companion Loan Control Termination Event or Trust Subordinate
Companion Loan Control Termination Event, as applicable, to exercise the rights of the “Controlling Noteholder”, as
defined in and under the terms of, the related Co-Lender Agreement.

 

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(e)       The
applicable Special Servicer shall be responsible for obtaining any consent of the Loan-Specific Directing Holder for “Major
Decisions” (as defined in the related Co-Lender Agreement) or as otherwise required hereunder or under the terms of any related
Co-Lender Agreement.

 

[End of Article III]

 

Article
IV

distributions TO CERTIFICATEHOLDERS

 

Section
4.01     Distributions. (a) On each Distribution Date, to the extent of the Pooled Available
Funds for such Distribution Date, the Certificate Administrator shall be deemed to transfer the Lower-Tier Distribution
Amount from the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account in the amounts and
priorities set forth in Section 4.01(c) with respect to each Class of Lower-Tier Regular Interests, and immediately
thereafter, shall make distributions thereof from the Upper-Tier REMIC Distribution Account in the following order of
priority, satisfying in full, to the extent required and possible, each priority before making any distribution with respect
to any succeeding priority:

 

(i)       first,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates,
the Class A-AB Certificates, the Class X-A Certificates and the Class X-B Certificates, in respect of interest, up to an amount
equal to, and pro rata in accordance with, the respective Interest Distribution Amounts in respect of such Class of Certificates
for such Distribution Date;

 

(ii)       second,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates,
and the Class A-AB Certificates in reduction of the Certificate Balances thereof: (I) prior to the Cross-Over Date (1) first,
to the Holders of the Class A-AB Certificates, in an amount up to the Principal Distribution Amount, until the outstanding Certificate
Balance of the Class A-AB Certificates has been reduced to the Class A-AB Scheduled Principal Balance for such Distribution Date;
(2) second, to the Holders of the Class A-1 Certificates, in an amount up to the Principal Distribution Amount (or the portion
thereof remaining after any distributions specified in subclause (1) above have been made on such Distribution Date), until
the outstanding Certificate Balance of the Class A-1 Certificates has been reduced to zero; (3) third, to the Holders of
the Class A-2 Certificates in an amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions
specified in subclauses (1) and (2) above have been made on such Distribution Date), until the outstanding Certificate
Balance of the Class A-2 Certificates has been reduced to zero; (4) fourth, to the Holders of the Class A-3 Certificates,
in an amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions specified in subclauses
(1), (2) and (3) above have been made on such Distribution Date), until the outstanding Certificate Balance of
the Class A-3 Certificates has been reduced to zero; and (5) fifth, to the Holders of the Class A-4 Certificates, in an
amount up to the Principal Distribution Amount (or the portion thereof remaining after

 

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any distributions specified in subclauses
(1), (2), (3) and (4) above have been made on such Distribution Date), until the outstanding Certificate
Balances of the Class A-4 Certificates has been reduced to zero; and (6) sixth, to the Holders of the Class A-AB Certificates,
in an amount up to the Principal Distribution Amount (or the portion thereof remaining after any distributions specified in subclauses
(1), (2), (3), (4) and (5) above have been made on such Distribution Date), until the outstanding
Certificate Balances of the Class A-AB Certificates, without regard to the Class A-AB Scheduled Principal Balance, has been reduced
to zero; and (II) on or after the Cross-Over Date, to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates,
pro rata (based on their respective Certificate Balances) in an amount equal to the Principal Distribution Amount for such
Distribution Date, until the Certificate Balance of each of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates
is reduced to zero;

 

(iii)       third,
to the Holders of the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates
and the Class A-AB Certificates, up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously allocated
to such Classes pro rata (based upon the aggregate unreimbursed Pooled Realized Losses previously allocated to each such
Class), plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date the related Pooled
Realized Loss was allocated to such Class;

 

(iv)       fourth,
to the Class A-S Regular Interest, in respect of interest, up to an amount equal to the Interest Distribution Amount with respect
to the Class A-S Regular Interest for such Distribution Date;

 

(v)       fifth,
after the Certificate Balances of the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, the Class A-4 Certificates
and Class A-AB Certificates have been reduced to zero, to the Class A-S Regular Interest in reduction of their Certificate Balance,
up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect
of the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates have been made on such Distribution Date) until the
Certificate Balance of the Class A-S Regular Interest is reduced to zero;

 

(vi)       sixth,
to the Class A-S Regular Interest up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously allocated
to the Class A-S Regular Interest, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from
the date the related Pooled Realized Loss was allocated to such Class;

 

(vii)       seventh,
to the Class B Regular Interest in respect of interest, up to an amount equal to the Interest Distribution Amount with respect
to the Class B Regular Interest for such Distribution Date;

 

(viii)       eighth,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificate) and the Class A-S Regular Interest
have been reduced to zero, to the Class B Regular Interest, in reduction of their Certificate Balance, up to an

 

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amount equal to
the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect of the Class A Certificates
(other than the Class A-S Certificate) and the Class A-S Regular Interest have been made on such Distribution Date) until the Certificate
Balance of the Class B Regular Interest is reduced to zero;

 

(ix)       ninth,
to the Class B Regular Interest up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously allocated
to the Class B Regular Interest, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the
date the related Pooled Realized Loss was allocated to such Class;

 

(x)       tenth,
to the Class C Regular Interest in respect of interest, up to an amount equal to the Interest Distribution Amount with respect
to the Class C Regular Interest for such Distribution Date;

 

(xi)       eleventh,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificate) and the Class A-S Regular Interest
and Class B Regular Interest have been reduced to zero, to the Class C Regular Interest in reduction of their Certificate Balance,
up to an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions in respect
of the Class A Certificates (other than the Class A-S Certificates) and the Class A-S Regular Interest and Class B Regular Interest
have been made on such Distribution Date) until the Certificate Balance of the Class C Regular Interest is reduced to zero;

 

(xii)       twelfth,
to the Class C Regular Interest up to an amount equal to the unreimbursed Pooled Realized Losses previously allocated to the Class
C Regular Interest, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date the related
Pooled Realized Loss was allocated to such Class;

 

(xiii)       thirteenth,
to the Holders of the Class D Certificates and Class X-D Certificates, in respect of interest, up to an amount equal to, and pro
rata in accordance with, the respective Interest Distribution Amounts in respect of such Class of Certificates for such Distribution
Date;

 

(xiv)       fourteenth,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificates) and the Class A-S Regular Interest,
Class B Regular Interest and Class C Regular Interest have been reduced to zero, to the Holders of the Class D Certificates, in
reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount (or the portion thereof remaining
after any distributions in respect of the Class A Certificates (other than the Class A-S Certificates) and the Class A-S Regular
Interest, Class B Regular Interest and Class C Regular Interest have been made on such Distribution Date, until the outstanding
Certificate Balance of the Class D Certificates has been reduced to zero;

 

(xv)       fifteenth,
to the Holders of the Class D Certificates, up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously
allocated to such

 

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Class, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date
the related Pooled Realized Loss was allocated to such Class;

 

(xvi)       sixteenth,
to the Holders of the Class E Certificates, in respect of interest, up to an amount equal to, the Interest Distribution Amount
in respect of such Class of Certificates for such Distribution Date;

 

(xvii)       seventeenth,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests
and Class D Certificates have been reduced to zero, to the Holders of the Class E Certificates, in reduction of the Certificate
Balance thereof, an amount equal to the Principal Distribution Amount (or the portion thereof remaining after any distributions
in respect of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests and Class D Certificates
have been made on such Distribution Date), until the outstanding Certificate Balance of the Class E Certificates has been reduced
to zero;

 

(xviii)       eighteenth,
to the Holders of the Class E Certificates, up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously
allocated to such Class, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date
the related Pooled Realized Loss was allocated to such Class;

 

(xix)       nineteenth,
to the Holders of the Class F Certificates, in respect of interest, up to an amount equal to, the Interest Distribution Amount
in respect of such Class of Certificates for such Distribution Date;

 

(xx)       twentieth,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests,
Class D Certificates and Class E Certificates have been reduced to zero, to the Holders of the Class F Certificates, in reduction
of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount (or the portion thereof remaining after
any distributions in respect of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests,
Class D Certificates and Class E Certificates have been made on such Distribution Date), until the outstanding Certificate Balance
of the Class F Certificates has been reduced to zero;

 

(xxi)       twenty-first,
to the Holders of the Class F Certificates, up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously
allocated to such Class, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date
the related Pooled Realized Loss was allocated to such Class;

 

(xxii)       twenty-second,
to the Holders of the Class G Certificates, in respect of interest, up to an amount equal to, the Interest Distribution Amount
in respect of such Class of Certificates for such Distribution Date;

 

(xxiii)       twenty-third,
after the Certificate Balances of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests,
Class D

 

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Certificates, Class E Certificates and Class F Certificates have been reduced to zero, to the Holders of the Class G Certificates,
in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount (or the portion thereof remaining
after any distributions in respect of the Class A Certificates (other than the Class A-S Certificates), the Class PEZ Regular Interests,
Class D Certificates, Class E Certificates and Class F Certificates have been made on such Distribution Date), until the outstanding
Certificate Balance of the Class G Certificates has been reduced to zero;

 

(xxiv)       twenty-fourth,
to the Holders of the Class G Certificates, up to an amount equal to the aggregate of unreimbursed Pooled Realized Losses previously
allocated to such Class, plus interest on that amount at the Pass-Through Rate for such Class compounded monthly from the date
the related Pooled Realized Loss was allocated to such Class; and

 

(xxv)       twenty-fifth,
to the Holders of the Class R Certificates in respect of the Class UR Interest, the amount, if any, of the Pooled Available Funds
remaining in the Upper-Tier REMIC Distribution Account with respect to such Distribution Date.

 

If, in connection with
any Distribution Date, the Certificate Administrator has reported the amount of an anticipated distribution to DTC based on the
receipt of payments as of the Determination Date and additional Periodic Payments, Balloon Payments or unscheduled principal payments
are subsequently received by the Master Servicer and required to be part of the Pooled Available Funds for such Distribution Date,
the Master Servicer shall promptly notify the Certificate Administrator and the Certificate Administrator will use commercially
reasonable efforts to cause DTC to make the revised distribution on a timely basis on such Distribution Date. None of the Master
Servicer, the applicable Special Servicer or the Certificate Administrator shall be liable or held responsible for any resulting
delay in the making of such distribution to Certificateholders solely on the basis of the actions described in the preceding sentence.

 

(b) (A) On each
Distribution Date, to the extent of the AMA Plaza Available Funds for such Distribution Date, the Certificate Administrator shall
be deemed to transfer the Interest Distribution Amount and the AMA Plaza Principal Distribution Amount from the AMA Plaza Trust
Subordinate Companion Loan REMIC Distribution Account to the Upper-Tier REMIC Distribution Account in the amounts and priorities
set forth below with respect to each Class of AMA Plaza Trust Subordinate Companion Loan REMIC Regular Interests, and immediately
thereafter, shall make distributions thereof from the Upper-Tier REMIC Distribution Account in the following order of priority,
satisfying in full, to the extent required and possible, each priority before making any distribution with respect to any succeeding
priority:

 

(i)       first,
to the Class AMA-A and Class X-AMA Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance
with, the respective Interest Distribution Amount for such Classes;

 

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(ii)       second,
to the Class AMA-A Certificates, in reduction of their Certificate Balance, up to an amount equal to the AMA Plaza Principal Distribution
Amount, until the Certificate Balance of the Class AMA-A Certificates is reduced to zero;

 

(iii)       third,
to the Class AMA-A Certificates, up to an amount equal to the aggregate of unreimbursed AMA Plaza Realized Loss previously allocated
to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date the related
AMA Plaza Realized Loss was allocated to such class;

 

(iv)       fourth,
to the Class AMA-B Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(v)       fifth,
to the Class AMA-B Certificates, in reduction of their Certificate Balance, an amount equal to the AMA Plaza Principal Distribution
Amount, until the Certificate Balance of the Class AMA-B Certificates is reduced to zero;

 

(vi)       sixth,
to the Class AMA-B Certificates, up to an amount equal to the aggregate of unreimbursed AMA Plaza Realized Loss previously allocated
to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date the related
AMA Plaza Realized Loss was allocated to such class;

 

(vii)       seventh,
to the Class AMA-C Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(viii)       eighth,
to the Class AMA-C Certificates, in reduction of their Certificate Balance, an amount equal to the AMA Plaza Principal Distribution
Amount, until the Certificate Balance of the Class AMA-C Certificates is reduced to zero;

 

(ix)       ninth,
to the Class AMA-C Certificates, up to an amount equal to the aggregate of unreimbursed AMA Plaza Realized Loss previously allocated
to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date the related
AMA Plaza Realized Loss was allocated to such class;

 

(x)       tenth,
to the Class AMA-D Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(xi)       eleventh,
to the Class AMA-D Certificates, in reduction of their Certificate Balance, an amount equal to the AMA Plaza Principal Distribution
Amount, until the Certificate Balance of the Class AMA-D Certificates is reduced to zero;

 

(xii)       twelfth,
to the Class AMA-D Certificates, up to an amount equal to the aggregate of unreimbursed AMA Plaza Realized Loss previously allocated
to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date the related
AMA Plaza Realized Loss was allocated to such class; and

 

(xiii)       thirteenth,
to the Class R Certificates, in respect of the Class AMA-R Interest, any remaining amounts.

 

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(B)        On
each Distribution Date, to the extent of the 225 Bush Street Available Funds for such Distribution Date, the Certificate Administrator
shall be deemed to transfer the Interest Distribution Amount and the 225 Bush Street Principal Distribution Amount from the 225
Bush Street Trust Subordinate Companion Loan REMIC Distribution Account to the Upper-Tier REMIC Distribution Account in the amounts
and priorities set forth below with respect to each Class of 225 Bush Street Trust Subordinate Companion Loan REMIC Regular Interests,
and immediately thereafter, shall make distributions thereof from the Upper-Tier REMIC Distribution Account in the following order
of priority, satisfying in full, to the extent required and possible, each priority before making any distribution with respect
to any succeeding priority:

 

(i)       first,
to the Class 225-A and Class X-225 Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance
with, the respective Interest Distribution Amount for such Classes;

 

(ii)       second,
to the Class 225-A Certificates, in reduction of their Certificate Balance, up to an amount equal to the 225 Bush Street Principal
Distribution Amount, until the Certificate Balance of the Class 225-A Certificates is reduced to zero;

 

(iii)       third,
to the Class 225-A Certificates, up to an amount equal to the aggregate of unreimbursed 225 Bush Street Realized Loss previously
allocated to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date
the related 225 Bush Street Realized Loss was allocated to such class;

 

(iv)       fourth,
to the Class 225-B Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(v)       fifth,
to the Class 225-B Certificates, in reduction of their Certificate Balance, an amount equal to the 225 Bush Street Principal Distribution
Amount, until the Certificate Balance of the Class 225-B Certificates is reduced to zero;

 

(vi)       sixth,
to the Class 225-B Certificates, up to an amount equal to the aggregate of unreimbursed 225 Bush Street Realized Loss previously
allocated to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date
the related 225 Bush Street Realized Loss was allocated to such class;

 

(vii)       seventh,
to the Class 225-C Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(viii)       eighth,
to the Class 225-C Certificates, in reduction of their Certificate Balance, an amount equal to the 225 Bush Street Principal Distribution
Amount, until the Certificate Balance of the Class 225-C Certificates is reduced to zero;

 

(ix)       ninth,
to the Class 225-C Certificates, up to an amount equal to the aggregate of unreimbursed 225 Bush Street Realized Loss previously
allocated to the such Class, plus interest on that amount at the Pass-Through Rate for such class

 

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compounded monthly from the date
the related 225 Bush Street Realized Loss was allocated to such class;

 

(x)       tenth,
to the Class 225-D Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(xi)       eleventh,
to the Class 225-D Certificates, in reduction of their Certificate Balance, an amount equal to the 225 Bush Street Principal Distribution
Amount, until the Certificate Balance of the Class 225-D Certificates is reduced to zero;

 

(xii)       twelfth,
to the Class 225-D Certificates, up to an amount equal to the aggregate of unreimbursed 225 Bush Street Realized Loss previously
allocated to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date
the related 225 Bush Street Realized Loss was allocated to such class;

 

(xiii)       thirteenth,
to the Class 225-E Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount for that Class;

 

(xiv)       fourteenth,
to the Class 225-E Certificates, in reduction of their Certificate Balance, an amount equal to the 225 Bush Street Principal Distribution
Amount, until the Certificate Balance of the Class 225-E Certificates is reduced to zero;

 

(xv)       fifteenth,
to the Class 225-E Certificates, up to an amount equal to the aggregate of unreimbursed 225 Bush Street Realized Loss previously
allocated to the such Class, plus interest on that amount at the Pass-Through Rate for such class compounded monthly from the date
the related 225 Bush Street Realized Loss was allocated to such class; and

 

(xvi)       sixteenth,
to the Class R Certificates, in respect of the Class BS-R Interest, any remaining amounts.

 

On each Distribution
Date, each AMA Plaza Trust Subordinate Companion Loan REMIC Regular Interest and each 225 Bush Street Trust Subordinate Companion
Loan REMIC Regular Interest shall be deemed to receive distributions in respect of principal or reimbursement of AMA Plaza Realized
Loss and 225 Bush Street Realized Loss, respectively, in an amount equal to the amount of principal or reimbursement of AMA Plaza
Realized Loss and 225 Bush Street Realized Loss, respectively, actually distributable to the Holders of the respective Related
Certificates as provided in Section 4.,01(b), 4.01(d), 4.01(f) and 4.01(i) such that at all times the Lower-Tier Principal Amount
of each Class of Trust Subordinate Companion Loan REMIC Regular Interests is equal to the Certificate Balance of the Class of Related
Certificates. On each Distribution Date, each Trust Subordinate Companion Loan REMIC Regular Interest shall be deemed to receive
distributions in respect of interest in an amount equal to the Interest Distribution Amount in respect of its Related Certificates
plus a pro rata share of the Interest Distribution Amount in respect of, in the case of the Class LAMAA, Class LAMAB, Class LAMAC
and LAMAD Uncertificated Interests, the Class X-AMA Certificate and, in the case of the Class L225A, Class L225B, Class L225C,
Class L225D and L225E Uncertificated Interests, the Class X-225 Certificate, in each case, computed based on an interest rate equal
to the excess

 

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of the Net Mortgage Rate of the related Trust Subordinate Companion Loan over the Pass-Through Rate of the Related
Certificates and a notional amount equal to its related Lower-Tier Principal Amount, in each case to the extent actually distributable
thereon as provided in this Section 4.01(b). Amounts distributable pursuant to this paragraph are referred to herein collectively
as the “Trust Subordinate Companion Loan REMIC Distribution Amounts” and shall be made by the Certificate Administrator
by deeming such Trust Subordinate Companion Loan REMIC Distribution Amount to be withdrawn from the applicable Trust Subordinate
Companion Loan REMIC Distribution Account to be deposited in the Upper-Tier REMIC Distribution Account.

 

As of any date, the principal
balance of each Trust Subordinate Companion Loan REMIC Regular Interest shall equal the Certificate Balance of the Related Certificates
with respect thereto, as adjusted for the allocation of AMA Plaza Realized Losses or 225 Bush Street Realized Losses, as applicable,
as provided in Sections 4.04(b) and 4.04(c). The initial principal balance of each Trust Subordinate Companion Loan REMIC Regular
Interest shall equal the respective Original Lower-Tier Principal Amount. The pass-through rate with respect to each Trust Subordinate
Companion Loan REMIC Regular Interest shall be the rate per annum set forth in the Preliminary Statement hereto.

 

Any amount that remains
in the Trust Subordinate Companion Loan REMIC Distribution Accounts on each Distribution Date after distribution of the Trust Subordinate
Companion Loan REMIC Distribution Amounts, and distribution of Yield Maintenance Charges pursuant to Section 4.01(e)(iii) shall
be distributed to Holders of the Class R Certificates in respect of the Class AMA-R Interest (but only to the extent of AMA Plaza
Available Funds for such Distribution Date remaining in the AMA Plaza Trust Subordinate Companion Loan REMIC Distribution Account,
if any) or the Class BS-R Interest (but only to the extent of 225 Bush Street Available Funds for such Distribution Date remaining
in the 225 Bush Street Trust Subordinate Companion Loan REMIC Distribution Account, if any), as applicable.

 

(c)       On
each Distribution Date, each Lower-Tier Regular Interest shall be deemed to receive distributions in respect of principal or reimbursement
of Realized Loss in an amount equal to the amount of principal or reimbursement of Realized Loss actually distributable to the
Holders of the respective Related Certificates or Class PEZ Regular Interest as provided in Sections 4.01(a), 4.01(d),
4.01(f) and 4.01(i) such that at all times the Lower-Tier Principal Amount of each Class of Lower-Tier Regular Interests
is equal to the Certificate Balance of the Class of Related Certificates or Class PEZ Regular Interest. On each Distribution Date,
each Lower-Tier Regular Interest shall be deemed to receive distributions in respect of interest in an amount equal to the Interest
Distribution Amount in respect of its Related Certificates or Class PEZ Regular Interest plus a pro rata portion of the
Interest Distribution Amount in respect of (i) in the case of the Class LA1, Class LA2, Class LA3, Class LA4, Class LAAB and Class
LAS Lower-Tier Regular Interests, the Class X-A Certificates, (ii) in the case of the Class LB Uncertificated Interest, the Class
X-B Certificates and (iii) in the case of the Class LD Uncertificated Interest, the Class X-D Certificates, in each case, computed
based on an interest rate equal to the excess of the Weighted Average Net Mortgage Rate over the Pass-Through Rate of the Related
Certificates or Class PEZ Regular Interest and a notional amount equal to its related Lower-Tier Principal Amount, in each case
to the extent actually distributable thereon as provided in Section 4.01(a). Amounts distributable pursuant to this

 

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paragraph
are referred to herein collectively as the “Lower-Tier Distribution Amount”, and shall be made by the Certificate
Administrator by deeming such Lower-Tier Distribution Amount to be withdrawn from the Lower-Tier REMIC Distribution Account to
be deposited in the Upper-Tier REMIC Distribution Account.

 

As of any date, the principal
balance of each Lower-Tier Regular Interest shall equal the Certificate Balance of the Related Certificates or Class PEZ Regular
Interest with respect thereto, as adjusted for the allocation of Realized Losses, as provided in Sections 4.04(b) and 4.04(b).
The initial principal balance of each Lower-Tier Regular Interest shall equal the respective Original Lower-Tier Principal Amount.
The pass-through rate with respect to each Lower-Tier Regular Interest shall be the rate per annum set forth in the Preliminary
Statement hereto.

 

Any amount that remains
in the Lower-Tier REMIC Distribution Account on each Distribution Date after distribution of the Lower-Tier Distribution Amount,
and distribution of Yield Maintenance Charges pursuant to Section 4.01(e)(iii) shall be distributed to the Holders of the
Class R Certificates in respect of the Class LR Interest (but only to the extent of the Available Funds for such Distribution Date
remaining in the Lower-Tier REMIC Distribution Account, if any).

 

(d)       On
and after the Distribution Date on which the Certificate Balances of the Subordinate Certificates (and, if any exchange for the
Class PEZ Certificates has occurred, the Class PEZ Certificates) have all been reduced to zero, any amounts representing reimbursements
of Realized Losses previously allocated to such Classes, if available, will be distributed to the Senior Certificates pro rata
based on their respective Certificate Balances. On and after the Distribution Date on which the Certificate Balances of the Class
AMA-B, Class AMA-C and Class AMA-D Certificates have all been reduced to zero, any amounts representing reimbursements of Realized
Losses previously allocated to such Classes, if available, will be distributed to the Class AMA-A Certificates. On and after
the Distribution Date on which the Certificate Balances of the Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates
have all been reduced to zero, any amounts representing reimbursements of Realized Losses previously allocated to such Class, if
available, will be distributed to the Class 225-A Certificates.

 

(e)       (i)
On any Distribution Date, any Yield Maintenance Charge collected on the Mortgage Loans as of the related Determination Date shall
be distributed to Holders of the Classes of Certificates as follows: (a) pro rata, between (i) the group (the “YM
Group A”) of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates and the Class A-S
Regular Interest and (ii) the group (the “YM Group B” and collectively with the YM Group A, the “YM
Groups”) of the Class D and Class X-B Certificates, the Class B Regular Interest (and correspondingly the Class B and
Class PEZ Certificates, pro rata based on their respective percentage interests in the Class B Regular Interest) and the
Class C Regular Interest based upon the aggregate amount of principal distributed to the Classes of Pooled Principal Balance Certificates
(exclusive of the Exchangeable Certificates) and/or Class PEZ Regular Interest(s) in each YM Group on such Distribution Date; and
(b) as among the respective Classes of Pooled Principal Balance Certificates (exclusive of the Exchangeable Certificates) and Class
PEZ Regular Interest(s) in each YM Group in the following manner: (1) the holders of

 

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each Class of Pooled Principal Balance Certificates
(exclusive of the Exchangeable Certificates) and each Class PEZ Regular Interest in such YM Group will be entitled to receive on
each Distribution Date an amount of such Yield Maintenance Charge equal to the product of (x) a fraction, the numerator of which
is the amount distributed as principal to such Class of Pooled Principal Balance Certificates or Class PEZ Regular Interest on
such Distribution Date, and the denominator of which is the total amount of principal distributed to all of the Pooled Principal
Balance Certificates (exclusive of the Exchangeable Certificates) and Class PEZ Regular Interests in such YM Group on such Distribution
Date, (y) the Base Interest Fraction for the related Principal Prepayment and such Class of Certificates or Class PEZ Regular Interest
and (z) the portion of such Yield Maintenance Charge allocated to such YM Group, and (2) the portion of such Yield Maintenance
Charge allocated to such YM Group remaining after such distributions will be distributed to the Class of Class X Certificates (other
than the Class X-AMA and Class X-225 Certificates) in such YM Group. If there is more than one Class of Pooled Principal Balance
Certificates (exclusive of the Exchangeable Certificates) and/or Class PEZ Regular Interest (and, therefore, the applicable Classes
of Exchangeable Certificates) in either YM Group entitled to distributions of principal on any particular Distribution Date on
which Yield Maintenance Charges are distributable to such Class(es) of Certificates and/or Class PEZ Regular Interest(s), the aggregate
amount of such Yield Maintenance Charges will be allocated among all such Classes of Pooled Principal Balance Certificates (exclusive
of the Exchangeable Certificates) and/or Class PEZ Regular Interests (and, therefore, the applicable Classes of Exchangeable Certificates)
up to, and on a pro rata basis in accordance with, their respective entitlements in those Yield Maintenance Charges in accordance
with the first sentence of this paragraph.

 

(ii)       On
each Distribution Date, any Yield Maintenance Charges distributed in respect of the Class A-S Regular Interest shall be further
allocated between and distributed on the Class A-S Certificates and the Class PEZ Component A-S (and correspondingly on the Class
PEZ Certificates), pro rata in proportion to the Class A-S Percentage Interest and Class A-S-PEZ Percentage Interest, respectively.
On each Distribution Date, any Yield Maintenance Charges distributed in respect of the Class B Regular Interest shall be further
allocated between and distributed on the Class B Certificates and the Class PEZ Component B (and correspondingly on the Class PEZ
Certificates), pro rata in proportion to the Class B Percentage Interest and Class B-PEZ Percentage Interest, respectively. On
each Distribution Date, any Yield Maintenance Charges distributed in respect of the Class C Regular Interest shall be further allocated
between and distributed on the Class C Certificates and the Class PEZ Component C (and correspondingly on the Class PEZ Certificates),
pro rata in proportion to the Class C Percentage Interest and Class C-PEZ Percentage Interest, respectively. After the Distribution
Date on which the Notional Amounts of the Class X-A and Class X-B Certificates and the Certificate Balances of the Class A-1, Class
A-2, Class A-3, Class A-4, Class A-AB and Class D Certificates and the Class PEZ Regular Interests have been reduced to zero, all
Yield Maintenance Charges collected with respect to the Mortgage Loans will be distributed pro rata to the Holders of the Class
X-B Certificates.

 

(iii)       All
distributions of Yield Maintenance Charges made (i) in respect of the respective Classes of Regular Certificates (other than the
Loan-Specific Certificates) (including any portion passed through to the related component of Class PEZ

 

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Certificates) on each Distribution
Date pursuant to Section 4.01(e)(i) shall first be deemed to be distributed from the Lower-Tier REMIC to the Upper-Tier
REMIC in respect of the Lower-Tier Regular Interests, pro rata based upon the amount of principal distributed in respect
of each such Class of Lower-Tier Regular Interests for such Distribution Date pursuant to Section 4.01(c) above and (ii)
in respect of the Loan-Specific Certificates on each Distribution Date pursuant to Section 4.01(e)(iv) below shall first
be deemed to be distributed from the Trust Subordinate Companion Loan REMIC Distribution Accounts to the Upper-Tier REMIC in respect
of the Trust Subordinate Companion Loan REMIC Regular Interests, pro rata based on the amount of principal distributed in
respect of each such Class of Trust Subordinate Companion Loan REMIC Regular Interests for such Distribution Date pursuant to Section
4.01(b) above.

 

(iv)       On
each Distribution Date, any Yield Maintenance Charges payable in respect of the AMA Plaza Whole Loan and received during the related
Collection Period and allocable in respect of the AMA Plaza Trust Subordinate Companion Loan pursuant to the related Co-Lender
Agreement shall be distributed to the AMA Plaza Loan-Specific Certificates by the Certificate Administrator in the following manner:
(i) first, to the holders of the Class AMA-A, Class AMA-B, Class AMA-C and Class AMA-D Certificates in an amount equal to the product
of (x) a fraction whose numerator is the amount of principal distributed to such class of AMA Plaza Loan-Specific Certificates
on such Distribution Date and whose denominator is the total amount of principal distributed to the holders of the Class AMA-A,
Class AMA-B, Class AMA-C and Class AMA-D Certificates on such Distribution Date, (y) the AMA Plaza Base Interest Fraction for the
related principal prepayment and such class of AMA Plaza Loan-Specific Certificates and (z) the aggregate amount of such yield
maintenance charges allocated to the AMA Plaza Trust Subordinate Companion Loan and (ii) then, the portion of such Yield Maintenance
Charge remaining after such distributions to the Class AMA-A, Class AMA-B, Class AMA-C and Class AMA-D Certificates to the holders
of the Class of Class X-AMA Certificates. If there is more than one Class of AMA Plaza Loan-Specific Certificates entitled to distributions
of principal on any particular Distribution Date on which Yield Maintenance Charges are distributable to such Class(es) of Certificates,
the aggregate amount of such Yield Maintenance Charges will be allocated among all such Classes of AMA Plaza Loan-Specific Certificates
up to, and on a pro rata basis in accordance with, their respective entitlements in those Yield Maintenance Charges in accordance
with the first sentence of this paragraph.

 

(v)       On
each Distribution Date, any Yield Maintenance Charges payable in respect of the 225 Bush Street Whole Loan and received during
the related Collection Period and allocable in respect of the 225 Bush Street Trust Subordinate Companion Loan pursuant to the
related Co-Lender Agreement shall be distributed to the 225 Bush Street Loan-Specific Certificates by the Certificate Administrator
in the following manner: (i) first, to the holders of the Class 225-A, Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates
in an amount equal to the product of (x) a fraction whose numerator is the amount of principal distributed to such class of 225
Bush Street Loan-Specific Certificates on such Distribution Date and whose denominator is the total amount of principal distributed
to the holders of the Class 225-A, Class 225-B, Class BC-C, Class 225-D and Class 225-E Certificates on such Distribution Date,
(y) the 225 Bush

 

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Street Base Interest Fraction for the related principal prepayment and such class of 225 Bush Street Loan-Specific
Certificates and (z) the aggregate amount of such yield maintenance charges allocated to the 225 Bush Street Trust Subordinate
Companion Loan and (ii) then, the portion of such Yield Maintenance Charge remaining after such distributions to the Class 225-A
and Class 225-B Certificates to the holders of the Class of Class X-225 Certificates. If there is more than one Class of 225 Bush
Street Loan-Specific Certificates entitled to distributions of principal on any particular Distribution Date on which Yield Maintenance
Charges are distributable to such Class(es) of Certificates, the aggregate amount of such Yield Maintenance Charges will be allocated
among all such Classes of 225 Bush Street Loan-Specific Certificates up to, and on a pro rata basis in accordance with,
their respective entitlements in those Yield Maintenance Charges in accordance with the first sentence of this paragraph.

 

(f)       On
each Distribution Date, the Certificate Administrator shall withdraw amounts from the Gain-on-Sale Reserve Account (other than
amounts with respect to a Non-Serviced Mortgage Loan) and shall distribute such amounts (i) to reimburse the Holders of the Regular
Certificates (other than the Loan-Specific Certificates) and Class PEZ Regular Interests (in order of distribution priority) (first
deeming such amounts to be distributed with respect to the Related Lower-Tier Regular Interests) up to an amount equal to all Pooled
Realized Losses, if any, previously deemed allocated to them and unreimbursed after application of the Pooled Available Funds for
such Distribution Date and (ii) with respect to any amount allocable to a Trust Subordinate Companion Loan, to reimburse the Holders
of the related Loan-Specific Certificates up to an amount equal to all AMA Plaza Realized Losses or 225 Bush Street Realized Losses,
as applicable, if any, previously deemed allocated to them and unreimbursed after application of the AMA Plaza Available Funds
or 225 Bush Street Available Funds, as applicable, for such Distribution Date. Amounts paid from the Gain-on-Sale Reserve Account
will not reduce the Certificate Balances of the Classes of Certificates receiving such distributions. Any amounts remaining in
the Gain-on-Sale Reserve Account after such distributions shall be held and applied (i) (other than any amounts allocable to the
Trust Subordinate Companion Loans) to offset future Realized Losses with respect to the Principal Balance Certificates (other than
the Exchangeable Certificates and the Loan-Specific Certificates) and the Class PEZ Regular Interests (and therefore to the Exchangeable
Certificates) and related Realized Losses in each case allocable to the Regular Certificates and (ii) (with respect to any amount
allocable to the Trust Subordinate Companion Loans) to offset future AMA Plaza Realized Losses or 225 Bush Street Realized Losses,
as applicable, with respect to the related Loan-Specific Certificates (other than the Class X-AMA and Class X-225 Certificates,
as applicable) and related AMA Plaza Realized Losses or 225 Bush Street Realized Losses, as applicable, allocable to the related
Loan-Specific Certificates (other than the Class X-AMA and Class X-225 Certificates, as applicable). Upon termination of the Trust,
any amounts remaining in the Gain-on-Sale Reserve Account shall be distributed to the Class R Certificateholders from the Lower-Tier
REMIC in respect of the Class LR Interest.

 

(g)       All
distributions made with respect to each Class of Certificates on each Distribution Date shall be allocated pro rata among
the outstanding Certificates in such Class based on their respective Percentage Interests. Except as otherwise specifically provided
in Sections 4.01(h), 4.01(i) and 9.01, all such distributions with respect to each Class on each Distribution
Date shall be made to the Certificateholders of the respective Class of record at the

 

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close of business on the related Record Date
and shall be made by wire transfer of immediately available funds to the account of any such Certificateholder at a bank or other
entity having appropriate facilities therefor, if such Certificateholder shall have provided the Certificate Administrator with
wiring instructions no less than five (5) Business Days prior to the related Record Date (which wiring instructions may be in the
form of a standing order applicable to all subsequent Distribution Dates), or otherwise by check mailed to such Certificateholder
at its address in the Certificate Register. The final distribution on each Certificate (determined without regard to any possible
future reimbursement of Realized Losses previously allocated to such Certificate) will be made in like manner, but only upon presentation
and surrender of such Certificate at the offices of the Certificate Registrar or such other location specified in the notice to
Certificateholders of such final distribution.

 

Each distribution with
respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall be responsible
for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures.
Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents
and to each indirect participating brokerage firm (a “brokerage firm” or “indirect participating firm”)
for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents.
None of the Trustee, the Certificate Administrator, the Certificate Registrar, the Depositor, the Master Servicer, the Special
Servicers or the Underwriters shall have any responsibility therefor except as otherwise provided by this Agreement or applicable
law.

 

(h)       Except
as otherwise provided in Section 9.01, whenever the Certificate Administrator expects that the final distribution with respect
to any Class of Certificates (determined without regard to any possible future reimbursement of any amount of Realized Losses previously
allocated to such Class of Certificates) will be made on the next Distribution Date, the Certificate Administrator shall, no later
than the related P&I Advance Determination Date, post on the Certificate Administrator’s Website pursuant to Section
3.13(b) a notice in electronic format to the effect that:

 

(i)       the
Certificate Administrator expects that the final distribution with respect to such Class of Certificates will be made on such Distribution
Date but only upon presentation and surrender of such Certificates at the offices of the Certificate Registrar or such other location
therein specified; and

 

(ii)       no
interest shall accrue on such Certificates from and after such Distribution Date.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Holder or Holders to tender their
Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the appropriate
non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section 4.01(h)
shall not have been surrendered for cancellation within six (6) months after the time specified in such notice, the Certificate
Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender their Certificates for
cancellation in order to receive the final distribution with respect

 

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thereto. If within one year after the second notice all such
Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or through an agent, shall
take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their Certificates as it
shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding such funds in trust
and of contacting such Certificateholders following the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder on any amount
held in trust hereunder by the Certificate Administrator as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with this Section 4.01(h).

 

(i)       Distributions
in reimbursement of Realized Losses previously allocated to the Regular Certificates or Class PEZ Regular Interests shall be made
in the amounts and manner specified in Section 4.01(a) or Section 4.01(d), as applicable, to the Holders of the respective
Class otherwise entitled to distributions of interest and principal on such Class on the relevant Distribution Date; provided
that all distributions in reimbursement of Realized Losses previously allocated to a Class of Certificates which has since been
retired shall be to the prior Holders that surrendered the Certificates of such Class upon retirement thereof and shall be made
by check mailed to the address of each such prior Holder last shown in the Certificate Register. Notice of any such distribution
to a prior Holder shall be made in accordance with Section 13.05 at such last address. The amount of the distribution to
each such prior Holder shall be based upon the aggregate Percentage Interest evidenced by the Certificates surrendered thereby.
If the check mailed to any such prior Holder is returned uncashed, then the amount thereof shall be set aside and held uninvested
in trust for the benefit of such prior Holder, and the Certificate Administrator shall attempt to contact such prior Holder in
the manner contemplated by Section 4.01(h) as if such Holder had failed to surrender its Certificates.

 

(j)       On
each Distribution Date, any Excess Interest received during the related Collection Period with respect to the Mortgage Loans shall
be distributed solely to the Holders of the Class S Certificates from the Excess Interest Distribution Account. Excess Interest
will not be available to pay any other amounts except for distributions on Class S Certificates set forth in the prior sentence.

 

(k)       On
the Serviced Whole Loan Remittance Date, with respect to any Serviced Companion Loan, the Companion Paying Agent shall make withdrawals
and payments from the Serviced Whole Loan Custodial Account for each Companion Loan in the following order of priority:

 

(i)       to
pay to the Master Servicer any amounts deposited by the Master Servicer in the Serviced Whole Loan Custodial Account not required
to be deposited therein;

 

(ii)       to
the extent permitted under the related Co-Lender Agreement and not otherwise previously reimbursed, to pay the Trustee or the Certificate
Administrator or any of their directors, officers, employees and agents, as the case may be, any amounts payable or reimbursable
to any such Person pursuant to Section 8.05, to the extent any such amounts relate solely to a Serviced Whole Loan related
to such Companion Loan,

 

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and such amounts are to be paid by the related Companion Holder pursuant to the related Co-Lender Agreement;

 

(iii)       to
pay all amounts remaining in the Serviced Whole Loan Custodial Account related to such Serviced Companion Loan to the related Companion
Holder, in accordance with the related Co-Lender Agreement; and

 

(iv)       to
clear and terminate the Serviced Whole Loan Custodial Account at the termination of this Agreement pursuant to Section 9.01.

 

All distributions from
the Serviced Whole Loan Custodial Account required hereunder shall be made by the Companion Paying Agent to the related Companion
Holder by wire transfer in immediately available funds on the Serviced Whole Loan Remittance Date to the account of such Companion
Holder or an agent therefor appearing on the Companion Register on the related Record Date (or, if no such account so appears or
information relating thereto is not provided at least five Business Days prior to the related Record Date, by check sent by first
class mail to the address of such Companion Holder or its agent appearing on the Companion Register). Any such account shall be
located at a commercial bank in the United States.

 

On the final Master Servicer
Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Certificate Administrator who
shall distribute to the Mortgage Loan Seller, any Loss of Value Payments relating to the Mortgage Loans that it is servicing and
that were transferred from the Loss of Value Reserve Fund to the Collection Account on the immediately preceding Master Servicer
Remittance Date.

 

(l)       Amounts
distributed on the Class PEZ Regular Interests pursuant to Section 4.01(a) shall be further distributed from the Class PEZ
Distribution Account to the Holders of the Exchangeable Certificates as set forth below:

 

(i)       On
each Distribution Date, simultaneously with the distributions made on the Class A-S Regular Interest under Section 4.01(a),
the aggregate amount so distributed on the Class A-S Regular Interest on such Distribution Date shall be further distributed by
the Certificate Administrator to the Holders of the Class A-S Certificates and the Class PEZ Certificates in the following amounts
and in the following order of priority:

 

(A)       first,
concurrently, to the Holders of the Class A-S Certificates in respect of interest, in an amount equal to the Class A-S Percentage
Interest of the amount distributed in respect of interest on the Class A-S Regular Interest under Section 4.01(a)(iv), and
to the Holders of the Class PEZ Certificates in respect of interest on Class PEZ Component A-S, in an amount equal to the Class
A-S-PEZ Percentage Interest of the amount distributed in respect of interest on the Class A-S Regular Interest under Section
4.01(a)(iv);

 

(B)       second,
concurrently, to the Holders of the Class A-S Certificates in respect of principal, in an amount equal to the Class A-S Percentage
Interest of the amount distributed in respect of principal on the Class A-S Regular Interest under Section 4.01(a)(v), and
to the Holders of the Class PEZ Certificates in respect of principal on Class PEZ Component A-S, in an amount

 

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equal to the Class
A-S-PEZ Percentage Interest of the amount distributed in respect of principal on the Class A-S Regular Interest under Section
4.01(a)(v); and

 

(C)       third,
concurrently, to the Holders of the Class A-S Certificates in respect of unreimbursed Realized Losses, in an amount equal to the
Class A-S Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class A-S Regular Interest
under Section 4.01(a)(vi), and to the Holders of the Class PEZ Certificates in respect of unreimbursed Realized Losses on
Class PEZ Component A-S, in an amount equal to the Class A-S-PEZ Percentage Interest of the amount distributed in respect of unreimbursed
Realized Losses on the Class A-S Regular Interest under Section 4.01(a)(vi).

 

(ii)       On
each Distribution Date, simultaneously with the distributions made on the Class B Regular Interest under Section 4.01(a),
the aggregate amount so distributed on the Class B Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class B Certificates and the Class PEZ Certificates in the following amounts and
in the following order of priority:

 

(A)       first,
concurrently, to the Holders of the Class B Certificates in respect of interest, in an amount equal to the Class B Percentage Interest
of the amount distributed in respect of interest on the Class B Regular Interest under Section 4.01(a)(vii), and to the
Holders of the Class PEZ Certificates in respect of interest on Class PEZ Component B, in an amount equal to the Class B-PEZ Percentage
Interest of the amount distributed in respect of interest on the Class B Regular Interest under Section 4.01(a)(vii);

 

(B)       second,
concurrently, to the Holders of the Class B Certificates in respect of principal, in an amount equal to the Class B Percentage
Interest of the amount distributed in respect of principal on the Class B Regular Interest under Section 4.01(a)(viii),
and to the Holders of the Class PEZ Certificates in respect of principal on Class PEZ Component B, in an amount equal to the Class
B-PEZ Percentage Interest of the amount distributed in respect of principal on the Class B Regular Interest under Section 4.01(a)(viii);
and

 

(C)       third,
concurrently, to the Holders of the Class B Certificates in respect of unreimbursed Realized Losses, in an amount equal to the
Class B Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class B Regular Interest
under Section 4.01(a)(ix), and to the Holders of the Class PEZ Certificates in respect of unreimbursed Realized Losses on
Class PEZ Component B, in an amount equal to the Class B-PEZ Percentage Interest of the amount distributed in respect of unreimbursed
Realized Losses on the Class B Regular Interest under Section 4.01(a)(ix).

 

(iii)       On
each Distribution Date, simultaneously with the distributions made on the Class C Regular Interest under Section 4.01(a),
the aggregate amount so distributed

 

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on the Class C Regular Interest on such Distribution Date shall be further distributed by the
Certificate Administrator to the Holders of the Class C Certificates and the Class PEZ Certificates in the following amounts and
in the following order of priority:

 

(A)       first,
concurrently, to the Holders of the Class C Certificates in respect of interest, in an amount equal to the Class C Percentage Interest
of the amount distributed in respect of interest on the Class C Regular Interest under Section 4.01(a)(x), and to the Holders
of the Class PEZ Certificates in respect of interest on Class PEZ Component C, in an amount equal to the Class C-PEZ Percentage
Interest of the amount distributed in respect of interest on the Class C Regular Interest under Section 4.01(a)(x);

 

(B)       second,
concurrently, to the Holders of the Class C Certificates in respect of principal, in an amount equal to the Class C Percentage
Interest of the amount distributed in respect of principal on the Class C Regular Interest under Section 4.01(a)(xi), and
to the Holders of the Class PEZ Certificates in respect of principal on Class PEZ Component C, in an amount equal to the Class
C-PEZ Percentage Interest of the amount distributed in respect of principal on the Class C Regular Interest under Section 4.01(a)(xi);
and

 

(C)       third,
concurrently, to the Holders of the Class C Certificates in respect of unreimbursed Realized Losses, in an amount equal to the
Class C Percentage Interest of the amount distributed in respect of unreimbursed Realized Losses on the Class C Regular Interest
under Section 4.01(a)(xii), and to the Holders of the Class PEZ Certificates in respect of unreimbursed Realized Losses
on Class PEZ Component C, in an amount equal to the Class C-PEZ Percentage Interest of the amount distributed in respect of unreimbursed
Realized Losses on the Class C Regular Interest under Section 4.01(a)(xii).

 

(iv)       The
various amounts distributable on the Class PEZ Certificates on each Distribution Date under the foregoing subsections of this Section
4.01(l) shall be so distributed in a single, aggregate distribution.

 

(m)       The
various amounts distributable on the Class PEZ Certificates on each Distribution Date under Article IV in respect of amounts
allocated to any of the Class PEZ Components pursuant to the terms of this Agreement shall be so distributed in a single, aggregate
distribution to the Holders of the Class PEZ Certificates on such Distribution Date. In addition, the Class PEZ Certificates shall
be allocated the aggregate amount of Realized Losses, Prepayment Interest Shortfalls and other interest shortfalls (including those
resulting from Appraisal Reduction Events) that are allocated to the Class PEZ Components pursuant to the terms of this Agreement.

 

Section
4.02 Distribution Date Statements; CREFC® Investor Reporting Packages; Grant of Power of Attorney.
(a) On each Distribution Date, the Certificate Administrator shall make available pursuant to Section 3.13(b) on the
Certificate Administrator’s Website to any Privileged Person a statement (substantially in the form set forth as Exhibit
G hereto and based in part upon information supplied to the Certificate Administrator in the related

 

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CREFC® Investor Reporting Package in accordance with CREFC® guidelines) as to the distributions
made on such Distribution Date (each, a “Distribution Date Statement”) which shall include:

 

(i)       the
amount of the distribution on such Distribution Date to the Holders of each Class of Certificates in reduction of the Certificate
Balance thereof;

 

(ii)       the
aggregate amount of Advances made, with respect to the pool of Mortgage Loans and the Trust Subordinate Companion Loans, during
the period from but not including the previous Distribution Date to and including such Distribution Date and details of P&I
Advances as of the Master Servicer Remittance Date;

 

(iii)       the
aggregate amount of compensation paid to the Trustee and the Certificate Administrator, servicing compensation paid to the Master
Servicer and the applicable Special Servicer, compensation paid to the Operating Advisor and CREFC® Intellectual
Property Royalty License Fees paid to CREFC®, in each case, with respect to the Collection Period for such Determination
Date together with detailed calculations of servicing compensation paid to the Master Servicer and such Special Servicer;

 

(iv)       the
aggregate Stated Principal Balance of the Mortgage Loans, the Trust Subordinate Companion Loan and any REO Loans, with respect
to the pool of Mortgage Loans and the Trust Subordinate Companion Loans, outstanding immediately before and immediately after such
Distribution Date;

 

(v)       the
aggregate amount of unscheduled payments received;

 

(vi)       the
number of loans, their aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate
of the Mortgage Loans and the Trust Subordinate Companion Loans, with respect to the pool of Mortgage Loans and the Trust Subordinate
Companion Loans, as of the end of the related Collection Period for such Distribution Date;

 

(vii)       the
number and aggregate principal balance of the Mortgage Loans and the Trust Subordinate Companion Loans (A) delinquent 30-59 days,
(B) delinquent 60-89 days, (C) delinquent 90 days to 119 days (and for each thirty (30) day period thereafter until liquidation),
(D) current but specially serviced or in foreclosure but not an REO Property and (E) for which the related Mortgagor is subject
to oversight by a bankruptcy court;

 

(viii)       the
value of any REO Property (and, with respect to any Serviced Whole Loan, the trust’s interest therein) included in the Trust
Fund as of the end of the related Determination Date for such Distribution Date, on a loan-by-loan basis, based on the most recent
Appraisal or valuation;

 

(ix)       the
Pooled Available Funds, the AMA Plaza Available Funds and the 225 Bush Street Available Funds for such Distribution Date;

 

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(x)       the
Interest Accrual Amount, in respect of such Class of Certificates for such Distribution Date, separately identifying any Interest
Accrual Amount for such Distribution Date allocated to such Class of Certificates;

 

(xi)       the
amount of the distribution on such Distribution Date to the Holders of such Class of Certificates allocable (A) to Yield Maintenance
Charges, (B) prepayment premiums and (C) in the case of the Class S Certificates, Excess Interest;

 

(xii)       the
Pass-Through Rate for such Class of Certificates for such Distribution Date and the next succeeding Distribution Date;

 

(xiii)       the
Scheduled Principal Distribution Amount and the Unscheduled Principal Distribution Amount for such Distribution Date, with respect
to the pool of Mortgage Loans;

 

(xiv)       the
Certificate Balance or Notional Amount, as the case may be, of each Class of Certificates immediately before and immediately after
such Distribution Date, separately identifying any reduction therein as a result of the allocation of any Realized Loss, AMA Plaza
Realized Loss or 225 Bush Street Realized Loss, as applicable, on such Distribution Date and the aggregate amount of all reductions
as a result of allocations of Realized Loss, AMA Plaza Realized Loss or 225 Bush Street Realized Loss, as applicable, in respect
of the Principal Balance Certificates (other than the Exchangeable Certificates and the Loan-Specific Certificates) and the Class
PEZ Regular Interests (and therefore to the Exchangeable Certificates) or the Loan-Specific Certificates (other than the Class
X-AMA and Class X-225 Certificates) to date;

 

(xv)       the
Certificate Factor for each Class of Certificates (other than the Class R Certificates) immediately following such Distribution
Date;

 

(xvi)       the
amount of any Cumulative Appraisal Reduction Amounts effected (including, with respect to any Serviced Whole Loan, the amount allocable
to the related Mortgage Loan and Serviced Companion Loan) in connection with such Distribution Date on a loan-by-loan basis;

 

(xvii)       the
current Controlling Class;

 

(xviii)       the
number and related Stated Principal Balance of any Mortgage Loans or the Trust Subordinate Companion Loans extended or modified
since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) on a loan-by-loan
basis;

 

(xix)       a
loan-by-loan listing of each Mortgage Loan or Trust Subordinate Companion Loan which was the subject of a Principal Prepayment
since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date) and the amount and
the type of Principal Prepayment occurring;

 

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(xx)       a
loan-by-loan listing of each Mortgage Loan or Trust Subordinate Companion Loan which was defeased since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date);

 

(xxi)       all
deposits into, withdrawals from, and the balance of the Interest Reserve Account on the Master Servicer Remittance Date;

 

(xxii)       in
the case of the Class R Certificates, the amount of any distributions on such Certificates pursuant to Sections 4.01(a),
4.01(b), 4.01(c) and 4.01(f);

 

(xxiii)       the
amount of the distribution on such Distribution Date to the Holders of such Class of Certificates in reimbursement of previously
allocated Realized Loss, AMA Plaza Realized Loss or 225 Bush Street Realized Loss, as applicable;

 

(xxiv)       the
aggregate unpaid principal balance of the Mortgage Loans outstanding as of the close of business on the related Determination Date,
with respect to the pool of Mortgage Loans;

 

(xxv)       with
respect to any Mortgage Loan or Trust Subordinate Companion Loan as to which a Liquidation Event occurred since the previous Determination
Date (or in the case of the first Distribution Date, as of the Cut-off Date) or prior to the related Determination Date (other
than a payment in full), (A) the loan number thereof, (B) the aggregate of all Liquidation Proceeds and other amounts received
in connection with such Liquidation Event (separately identifying the portion thereof allocable to distributions on the Certificates),
and (C)(i) the amount of any Realized Loss allocated to the Principal Balance Certificates (other than the Exchangeable Certificates
and the Loan-Specific Certificates) and the Class PEZ Regular Interests (and therefore to the Exchangeable Certificates) in connection
with such Liquidation Event, (ii) the amount of any AMA Realized Loss allocated to the AMA Plaza Loan-Specific Certificates (other
than the Class X-AMA Certificates) or (iii) the amount of any 225 Bush Street Realized Loss allocated to the 225 Bush Street Loan-Specific
Certificates (other than the Class X-225 Certificates);

 

(xxvi)       with
respect to any REO Property (including, with respect to any Non-Serviced Whole Loan, the Trust’s interest therein) included
in the Trust as to which the applicable Special Servicer determined, in accordance with the Servicing Standard, that all payments
or recoveries with respect to the Mortgaged Property have been ultimately recovered since the previous Determination Date, (A)
the loan number of the related Mortgage Loan, (B) the aggregate of all Liquidation Proceeds and other amounts received in connection
with that determination (separately identifying the portion thereof allocable to distributions on the Certificates), and (C) the
amount of any Realized Loss (or AMA Plaza Realized Loss or 225 Bush Street Realized Loss), as applicable, allocated to the Principal
Balance Certificates, if applicable (other than the Exchangeable Certificates, the Class X-AMA and the Class X-225 Certificates)
and the Class PEZ Regular Interests (and therefore to the Exchangeable Certificates) in respect of the related REO Loan in connection
with that determination;

 

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(xxvii)       the
aggregate amount of interest on P&I Advances paid to the Master Servicer and the Trustee since the previous Determination Date
(or in the case of the first Distribution Date, as of the Cut-off Date), with respect to the pool of Mortgage Loans;

 

(xxviii)       [Reserved];

 

(xxix)       the
then-current credit support levels for each Class of Certificates;

 

(xxx)       the
aggregate amount of Yield Maintenance Charges on the Mortgage Loans and Trust Subordinate Companion Loans (each separately identified)
collected since the previous Determination Date (or in the case of the first Distribution Date, as of the Cut-off Date);

 

(xxxi)       a
loan-by-loan listing of any material modification, extension or waiver of a Mortgage Loan;

 

(xxxii)       a
loan-by-loan listing of any material breach of the representations and warranties given with respect to a Mortgage Loan or Trust
Subordinate Companion Loan by the Mortgage Loan Seller;

 

(xxxiii)       an
itemized listing of any Disclosable Special Servicer Fees received by the applicable Special Servicer or any of its affiliates
with respect to the related Distribution Date, which information will be provided to the Certificate Administrator by the Master
Servicer; and

 

(xxxiv)       the
amount of any Excess Interest actually received.

 

In the case of information
furnished pursuant to clauses (i), (ix), (x), (xi), (xiv), (xxiii) and (xxiv)
above, (i) the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and
per Definitive Certificate and (ii) the Class PEZ Certificates shall receive such information with respect to such clauses allocable
to the Class A-S, Class B and Class C Certificates exchanged therefor.

 

The Certificate Administrator
has not obtained and shall not be deemed to have obtained actual knowledge of any information only by virtue of its receipt and
posting of such information to the Certificate Administrator’s Website.

 

Within a reasonable period
of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who at any time during
the calendar year was a Holder of a Certificate, a statement containing the information set forth in clauses (i) and (ii)
above as to the applicable Class, aggregated for such calendar year or applicable portion thereof during which person was a Certificateholder,
together with such other information as the Certificate Administrator deems necessary or desirable, or that a Certificateholder
or Certificate Owner reasonably requests, to enable Certificateholders to prepare their tax returns for such calendar year. Such
obligation of the Certificate Administrator shall be deemed to have been satisfied to the extent that substantially comparable
information shall be provided by the Certificate Administrator pursuant to any requirements of the Code as from time to time are
in force.

 

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Upon receipt of an Asset
Review Report Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 12.01(b), the
Certificate Administrator shall (i) include such Asset Review Report Summary in Item 1B on the Form 10-D in accordance with Section
11.04 for such period in which such Asset Review Report Summary was delivered, and (ii) post such Asset Review Report Summary
to the Certificate Administrator’s Website not later than two (2) Business Days after receipt of such Asset Review Report
Summary from the Asset Representations Reviewer.

 

(b)       [Reserved].

 

(c)       Each
of the Master Servicer and the Special Servicers may, at its sole cost and expense, make available by electronic media, bulletin
board service or Internet website (in addition to making information available as provided herein) any reports or other information
the Master Servicer or such Special Servicer, as applicable, is required or permitted to provide to any party to this Agreement,
the Rating Agencies or any Certificateholder or any prospective Certificateholder that has provided the Certificate Administrator,
the Master Servicer or such Special Servicer, as applicable, with an Investor Certification or has executed a “click-through”
confidentiality agreement in accordance with Section 3.13 hereof (which may be a licensed or registered investment advisor)
to the extent such action does not conflict with the terms of this Agreement (including without limitation, any requirements to
keep Privileged Information confidential), the terms of the Mortgage Loans or applicable law. Notwithstanding this paragraph, the
availability of such information or reports on the Internet or similar electronic media shall not be deemed to satisfy any specific
delivery requirements in this Agreement except as set forth herein. In connection with providing access to the Master Servicer’s
or applicable Special Servicer’s Internet website, the Master Servicer or such Special Servicer, as applicable, shall take
reasonable measures to ensure that only such parties listed above may access such information including, without limitation, requiring
registration, a confidentiality agreement and acceptance of a disclaimer. The Master Servicer or applicable Special Servicer, as
applicable, shall not be liable for dissemination of this information in accordance with this Agreement, and neither the Master
Servicer nor the applicable Special Servicer shall be responsible for any information delivered, produced, or made available pursuant
to Sections 3.13 and 4.02(c), other than information produced by the Master Servicer or such Special Servicer, as
applicable; provided that such information otherwise meets the requirements set forth herein with respect to the form and
substance of such information or reports. The Master Servicer shall be entitled to attach to any report provided pursuant to this
subsection, any reasonable disclaimer with respect to information provided, or any assumptions required to be made by such report.

 

Each Special Servicer
shall from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide the Master Servicer with
such information in its possession regarding the Specially Serviced Mortgage Loans and REO Properties as may be necessary for the
Master Servicer to prepare each report and any supplemental information to be provided by the Master Servicer to the Certificate
Administrator. Neither the Certificate Administrator nor the Depositor shall have any obligation to recompute, verify or recalculate
the information provided thereto by the Master Servicer. Unless the Certificate Administrator has actual knowledge that any report
or file received from the Master Servicer contains erroneous information, the Certificate Administrator is authorized to rely thereon
in calculating and making distributions to Certificateholders in accordance with Section 4.01, preparing the Distribution

 

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Date Statement required by Section 4.02(a) and allocating Realized Losses to the Certificates in accordance with Section
4.04.

 

Notwithstanding the foregoing,
the failure of the Master Servicer or a Special Servicer to disclose any information otherwise required to be disclosed pursuant
to this Section 4.02(c) or Section 4.02(d) shall not constitute a breach of this Section 4.02(c) or of Section
4.02(d) to the extent the Master Servicer or such Special Servicer so fails because such disclosure, in the reasonable belief
of the Master Servicer or such Special Servicer, as the case may be, would violate any applicable law or any provision of a Mortgage
Loan document prohibiting disclosure of information with respect to the Mortgage Loans or the Mortgaged Properties. The Master
Servicer or the applicable Special Servicer may affix to any information provided by it any disclaimer it deems appropriate in
its reasonable discretion (without suggesting liability on the part of any other party hereto).

 

(d)       Upon
the written request of a Certificateholder, any beneficial owner of a Certificate, or any prospective purchaser of a Certificate
that is a Qualified Institutional Buyer and is designated by a Certificateholder or a beneficial owner of a Certificate as such
and, in any case, has delivered an Investor Certification to the Depositor and the Certificate Administrator, as soon as reasonably
practicable, at the expense of the requesting party, the Certificate Administrator shall make available to the requesting party
such information that is in the Certificate Administrator’s possession or can reasonably be obtained by the Certificate Administrator
as is requested by such person, for purposes of satisfying applicable reporting requirements under Rule 144A under the Securities
Act. Neither the Certificate Registrar, nor the Certificate Administrator shall have any responsibility for the sufficiency under
Rule 144A or any other securities laws of any available information so furnished to any person including any prospective purchaser
of a Certificate or any interest therein, nor for the content or accuracy of any information so furnished which was prepared or
delivered to them by another.

 

(e)       The
information to which any Certificateholder is entitled is limited to the information gathered and provided to the Certificateholder
by the parties hereto pursuant to this Agreement and by acceptance of any Certificate, each Certificateholder agrees that except
as specifically provided herein, no Certificateholder shall contact any Mortgagor directly with respect to any Mortgage Loan.

 

(f)       Upon
the reasonable request of any Excluded Controlling Class Holder identified to the Master Servicer (in the case of a Non-Specially
Serviced Mortgage Loan) or the applicable Special Servicer (in the case of a Specially Serviced Mortgage Loan) to the Master Servicer’s
or the applicable Special Servicer’s reasonable satisfaction (at the expense of such Excluded Controlling Class Holder) and
if such information is in the Master Servicer’s or such Special Servicer’s possession, the Master Servicer or such
Special Servicer, as applicable, shall provide or make available (or forward electronically) to such Excluded Controlling Class
Holder (at the expense of such Excluded Controlling Class Holder) any Excluded Information (available to Privileged Persons through
the Certificate Administrator’s Website but not accessible to such Excluded Controlling Class Holder through the Certificate
Administrator’s Website on account of it constituting Excluded Information) relating to any Excluded Controlling Class Loan
with respect to which such Excluded Controlling Class Holder is not a Borrower Party; provided that, in connection therewith,
the Master Servicer or the applicable Special Servicer may require a

 

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written confirmation executed by the requesting Person substantially
in such form as may be reasonably acceptable to the Master Servicer or such Special Servicer, generally to the effect that such
Person is the Directing Holder or a Controlling Class Certificateholder, will keep such Excluded Information confidential and is
not a Borrower Party, upon which the Master Servicer or such Special Servicer may conclusively rely. In addition, the Master Servicer
and the applicable Special Servicer shall be entitled to conclusively rely on delivery from the Directing Holder or a Controlling
Class Certificateholder or an AMA Plaza Controlling Class Certificateholder or a 225 Bush Street Controlling Class Certificateholder,
as applicable, of an Investor Certification substantially in the form of Exhibit P-1B that such Directing Holder or Controlling
Class Certificateholder or AMA Plaza Controlling Class Certificateholder or 225 Bush Street Controlling Class Certificateholder
is not an Excluded Controlling Class Holder with respect to a particular Mortgage Loan. For the avoidance of doubt, the applicable
Special Servicer referenced in this Section 4.02(f) shall include any applicable Excluded Special Servicer with respect
to the related Excluded Special Servicer Loan(s).

 

Section 4.03     P&I
Advances. (a) On or before 4:00 p.m., New York City time, on each Master Servicer Remittance Date, the Master Servicer
shall either (i) remit to the Certificate Administrator for deposit from its own funds into the (A) Lower-Tier REMIC Distribution
Account, an amount equal to the aggregate amount of P&I Advances, if any, with respect to the Mortgage Loans to be made in
respect of the related Distribution Date or (B) Trust Subordinate Companion Loan REMIC Distribution Accounts, an amount equal
to the aggregate amount of P&I Advances, if any, with respect to the Trust Subordinate Companion Loans to be made in respect
of the related Distribution Date or (ii) apply amounts held in the Collection Account, for future distribution to Certificateholders
in subsequent months in discharge of any such obligation to make P&I Advances with respect to the Mortgage Loans or Trust
Subordinate Companion Loan, or (iii) make P&I Advances in the form of any combination of clauses (i) and (ii),
aggregating the total amount of P&I Advances to be made. Any amounts held in the Collection Account for future distribution
and so used to make P&I Advances with respect to the Mortgage Loans or Trust Subordinate Companion Loan shall be appropriately
reflected in the Master Servicer’s records and replaced by the Master Servicer by deposit in the Collection Account on or
before the next succeeding Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late
Collections of the delinquent principal and/or interest in respect of which P&I Advances were made). The Master Servicer shall
notify the Certificate Administrator of (i) the aggregate amount of P&I Advances with respect to the Mortgage Loans or the
Trust Subordinate Companion Loans for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances with respect
to the Mortgage Loans or the Trust Subordinate Companion Loans for such Distribution Date, on or before two (2) Business Days
prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time,
on any Master Servicer Remittance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New
York City time, on the related Distribution Date, unless the Master Servicer shall have cured such failure (and provided written
notice of such cure to the Trustee and the Certificate Administrator) by 11:00 a.m., New York City time, on such Distribution
Date. In the event that the Master Servicer fails to make a required P&I Advance hereunder, the Certificate Administrator
shall notify the Trustee of such circumstances by 4:30 p.m., New York City time, on the related Master Servicer Remittance Date.
Notwithstanding the foregoing, the portion of any P&I Advance equal to the CREFC® Intellectual Property Royalty
License Fee for the related Mortgage Loans or the Trust

 

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Subordinate
Companion Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account
but shall be deposited into the Collection Account for payment to CREFC® on such Distribution Date.

 

(b)       Subject
to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made by the Master Servicer with
respect to any Distribution Date and each Mortgage Loan and Trust Subordinate Companion Loan, shall be equal to: (i) the Periodic
Payments (net of related Servicing Fees) other than Balloon Payments, that were due on the Mortgage Loans (including any Non-Serviced
Mortgage Loan), the Trust Subordinate Companion Loan and any REO Loan (including any portion of a REO Loan related to the Trust
Subordinate Companion Loan, but excluding any portion of an REO Loan related to any other Companion Loan) during the related Collection
Period and delinquent as of the close of business on the Business Day preceding the related Master Servicer Remittance Date (or
not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan and Trust Subordinate
Companion Loan delinquent in respect of its Balloon Payment as of the Master Servicer Remittance Date (including any REO Loan (including
any portion of a REO Loan related to the Trust Subordinate Companion Loan, but excluding any portion of an REO Loan related to
any other Companion Loan) as to which the related Balloon Payment would have been past due), an amount equal to the Assumed Scheduled
Payment therefor. Subject to subsection (c) below, the obligation of the Master Servicer to make such P&I Advances is
mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan), Trust Subordinate Companion Loan or
REO Loan (including any portion of a REO Loan related to the Trust Subordinate Companion Loan, but excluding any portion of an
REO Loan related to any other Companion Loan), shall continue until the Distribution Date on which the proceeds, if any, received
in connection with a Liquidation Event or the disposition of the REO Property, as the case may be, with respect thereto are to
be distributed. No P&I Advances shall be made with respect to any Companion Loan other than the Trust Subordinate Companion
Loan.

 

(c)       Notwithstanding
anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made,
constitute a Nonrecoverable P&I Advance. With respect to each Non-Serviced Mortgage Loan, the Master Servicer or the applicable
Special Servicer will be required to make its determination (based on information provided by the applicable Non-Serviced Master
Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable
Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to such Non-Serviced
Mortgage Loan independently of any determination made by the applicable Non-Serviced Master Servicer or the applicable Non-Serviced
Special Servicer, as the case may be, under the applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced
Companion Loan. If the Master Servicer or the applicable Special Servicer determines that a proposed P&I Advance with respect
to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously
made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or the applicable Special Servicer shall provide
the applicable Non-Serviced Master Servicer and Non-Serviced Special Servicer written notice of such determination within two (2)
Business Days of the date of such determination. If the Master Servicer receives written notice from the related Non-Serviced Master
Servicer or the related Non-Serviced Special Servicer, as the case

 

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may be, that either has determined in accordance with the applicable
Non-Serviced Pooling Agreement with respect to a Non-Serviced Companion Loan, that any proposed advance under the applicable Non-Serviced
Pooling Agreement that is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement
that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer, the applicable Special Servicer or
the Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with
respect to the related Non-Serviced Mortgage Loan, will be a Nonrecoverable P&I Advance. Thereafter, in either case, the Master
Servicer and the Trustee shall not be required to make any additional P&I Advances with respect to the related Non-Serviced
Mortgage Loan unless and until the Master Servicer, the applicable Special Servicer or the Trustee, as the case may be, determines
that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable
P&I Advance, which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related
Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer, the applicable
Special Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that
any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance.

 

(d)       In
connection with the recovery of any P&I Advance out of the Collection Account, pursuant to Section 3.05(a), the Master
Servicer shall be entitled to pay the Trustee and itself (in that order of priority) as the case may be, out of any amounts then
on deposit in the Collection Account (but in no event from any funds allocable to a Serviced Companion Noteholder (unless related
thereto), except to the extent permitted pursuant to the terms of the related Co-Lender Agreement), interest at the Reimbursement
Rate in effect from time to time, accrued on the amount of such P&I Advance from the date made to but not including the date
of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to
a Mortgage Loan or Trust Subordinate Companion Loan unless the related Periodic Payment is received after the related Due Date
has passed and any applicable Grace Period has expired or (ii) if the related Periodic Payment is received after the Determination
Date but on or prior to the related Master Servicer Remittance Date. The Master Servicer shall reimburse itself and/or the Trustee,
as the case may be, for any outstanding P&I Advance, subject to Section 3.17 of this Agreement, as soon as practicably
possible after funds available for such purpose are deposited in the Collection Account.

 

In addition, the Master
Servicer, the applicable Special Servicer or the Trustee, as applicable, in making any recoverability determination respecting
a P&I Advance in respect of a Trust Subordinate Companion Loan, shall look solely to the proceeds available in respect of such
Trust Subordinate Companion Loan and shall be entitled to take into account the subordinate nature of such Trust Subordinate Companion
Loan as well as (a) to consider (among other things) (i) the obligations of the Mortgagor under the terms of the related Mortgage
Loan or Companion Loan as it may have been modified and (ii) the related Mortgaged Properties in their “as-is” or then-current
conditions and occupancies, as modified by such party’s assumptions (consistent with the Servicing Standard in the case of
the Master Servicer or the applicable Special Servicer or in its good faith business judgment in the case of the Trustee, solely
in its capacity as Trustee) regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties,
(b) to estimate and consider (consistent with the Servicing Standard 

 

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in the case of the Master Servicer and the applicable Special
Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as Trustee) (among other things)
future expenses, (c) to estimate and consider (consistent with the applicable Servicing Standard in the case of the Master Servicer
and the applicable Special Servicer or in its good faith business judgment in the case of the Trustee, solely in its capacity as
Trustee) (among other things) the timing of recoveries, (d) in the case of a potential P&I Advance with respect to such Trust
Subordinate Companion Loan, the subordinate nature of such Trust Subordinate Companion Loan and (e) to give due regard to the existence
of any Nonrecoverable Advances which, at the time of such consideration, the recovery of which are being deferred or delayed by
the Master Servicer, in light of the fact that related proceeds are a source of recovery not only for the Advance under consideration
but also a potential source of recovery for such delayed or deferred Advance.

 

(e)       Notwithstanding
the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Yield Maintenance Charges, Default Interest,
late payment charges, prepayment premiums, Excess Interest, Balloon Payment or any P&I Advance with respect to any Companion
Loan and (ii) if an Appraisal Reduction Amount has been assessed with respect to any Mortgage Loan (or, in the case of a Non-Serviced
Whole Loan, an Appraisal Reduction Amount has been made in accordance with the related Non-Serviced Pooling Agreement and the Master
Servicer has notice of such Appraisal Reduction Amount) or Trust Subordinate Companion Loan, the interest portion of the P&I
Advance in respect of such Mortgage Loan or Trust Subordinate Companion Loan for the related Distribution Date shall be reduced
(it being herein acknowledged that there shall be no reduction in the principal portion, if any, of such P&I Advance) to equal
the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan or Trust Subordinate Companion
Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator
of which is equal to the Stated Principal Balance of such Mortgage Loan or Trust Subordinate Companion Loan immediately prior to
such Distribution Date, net of the related Appraisal Reduction Amount (or, in the case of a Whole Loan, the portion of such Appraisal
Reduction Amount allocated to the related Mortgage Loan or Trust Subordinate Companion Loan), if any, and the denominator of which
is equal to the Stated Principal Balance of such Mortgage Loan or Trust Subordinate Companion Loan immediately prior to such Distribution
Date. For purposes of the immediately preceding sentence, the Periodic Payment due on the Maturity Date for a Balloon Mortgage
Loan will be the Assumed Scheduled Payment for the related Distribution Date.

 

(f)       In
no event shall either the Master Servicer or the Trustee be required to make a P&I Advance with respect to any Companion Loan
other than the Trust Subordinate Companion Loan.

 

Section
4.04     Allocation of Realized Losses. (a) On each Distribution Date, immediately following the distributions to be
made on such date pursuant to Section 4.01, the Certificate Administrator shall calculate the amount, if any, by which
(X) with respect to the Mortgage Loans (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not
giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans
that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent
such Workout-Delayed

 

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Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage
Loans and any REO Loans (excluding any portion allocable to any related Companion Loan if applicable) expected to be outstanding
immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Pooled Principal
Balance Certificates (other than the Class A-S, Class B and Class C Certificates) and Class PEZ Regular Interests after giving
effect to distributions of principal on such Distribution Date (any such deficit, the “Pooled Realized Loss”),
(Y) with respect to the AMA Plaza Trust Subordinate Companion Loan (i) the Stated Principal Balance of the AMA Plaza Trust Subordinate
Companion Loan (including the assumed Stated Principal Balance if the AMA Plaza Trust Subordinate Companion Loan has become an
REO Loan) expected to be outstanding immediately following such Distribution Date is less than (ii) the aggregate Certificate Balance
of the AMA Plaza Loan-Specific Certificates (other than the Class X-AMA Certificates) after giving effect to distributions of principal
on such Distribution Date (any such deficit with respect to the AMA Plaza Loan-Specific Certificates, the “AMA Plaza Realized
Loss”) and (Z) with respect to the 225 Bush Street Trust Subordinate Companion Loan (i) the Stated Principal Balance
of the 225 Bush Street Trust Subordinate Companion Loan (including the assumed Stated Principal Balance if the 225 Bush Street
Trust Subordinate Companion Loan has become an REO Loan) expected to be outstanding immediately following such Distribution Date
is less than (ii) the aggregate Certificate Balance of the 225 Bush Street Loan-Specific Certificates (other than the Class X-225
Certificates) after giving effect to distributions of principal on such Distribution Date (any such deficit with respect to the
225 Bush Street Loan-Specific Certificates, the “225 Bush Street Realized Loss”). Realized Losses with respect
to the AMA Plaza Whole Loan and the 225 Bush Street Whole Loan shall be allocated first to the related Trust Subordinate Companion
Loan pursuant to the related Co-Lender Agreement (and, correspondingly, to the Class AMA-A, Class AMA-B, Class AMA-C and Class
AMA-D Certificates or Class 225-A, Class 225-B, Class 225-C, Class 225-D and Class 225-E Certificates, as applicable, in reverse
alphabetic order) and then, to the AMA Plaza Mortgage Loan and the AMA Plaza Pari Passu Companion Loan or the 225 Bush Street Mortgage
Loan and the 225 Bush Street Pari Passu Companion Loan, as applicable, on a pro rata and pari passu basis. Any allocation
of Realized Losses to a Class of Regular Certificates or Class PEZ Regular Interests (other than with respect to the Class X-AMA
and Class X-225 Certificates), as applicable, shall be made by reducing the Certificate Balance thereof by the amount so allocated.
Any Realized Losses so allocated to a Class of Regular Certificates or Class PEZ Regular Interests, as applicable shall be allocated
among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of
Realized Losses shall constitute an allocation of losses and other shortfalls experienced by the Trust. Reimbursement of previously
allocated Realized Losses will not constitute distributions of principal for any purpose and will not result in an additional reduction
in the Certificate Balance of the Class of Certificates or Class PEZ Regular Interests in respect of which any such reimbursement
is made. With respect to any Class of Principal Balance Certificates (other than the Exchangeable Certificates) and the Class PEZ
Regular Interests (and therefore to the Exchangeable Certificates), to the extent any Nonrecoverable Advances (plus interest thereon)
that were reimbursed from principal collections on the Mortgage Loans and/or the Trust Subordinate Companion Loans and previously
resulted in a reduction of the Principal Distribution Amount, the AMA Plaza Principal Distribution Amount or the 225 Bush Street
Principal Distribution Amount, as applicable, are subsequently recovered on the related Mortgage Loan and/or Trust Subordinate
Companion Loan, the amount of such recovery will be

 

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added to the Certificate Balance of the Class or Classes of Principal Balance
Certificates (other than the Exchangeable Certificates) and the Class PEZ Regular Interests (and therefore to the Exchangeable
Certificates) that previously were allocated Realized Losses, in sequential order, in each case up to the amount of the unreimbursed
Realized Losses allocated to such Class of Principal Balance Certificates (other than the Loan-Specific Certificates) or Class
PEZ Regular Interests.

 

(b)       On
each Distribution Date, the Certificate Balances of the Pooled Principal Balance Certificates (other than the Exchangeable Certificates)
and the Class PEZ Regular Interests (and therefore to the Exchangeable Certificates) will be reduced without distribution, as a
write-off to the extent of any Pooled Realized Losses, if any, allocable to such Certificates and Class PEZ Regular Interests with
respect to such Distribution Date. Any such write off shall be allocated first, to the Class G Certificates, second,
to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth,
to the Class C Regular Interest (and correspondingly, to the Class C Certificates and the Class PEZ Certificates, pro rata based
on their respective percentage interests in the Class C Regular Interest), sixth, to the Class B Regular Interest (and correspondingly,
to the Class B Certificates and the Class PEZ Certificates, pro rata based on their respective percentage interests in the
Class B Regular Interest); seventh, to the Class A-S Regular Interest (and correspondingly, to the Class A-S Certificates
and the Class PEZ Certificates, pro rata based on their respective percentage interests in the Class A-S Regular Interest)
and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class
A-4 and Class A-AB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been
reduced to zero. On each Distribution Date, the Certificate Balances of the Loan-Specific Certificates (other than the Class X-AMA
and Class X-225 Certificates) will be reduced without distribution as a write-off to the extent of any AMA Plaza Realized Losses
or 225 Bush Street Realized Losses, as applicable, attributable to the related Trust Subordinate Companion Loan in accordance with
Section 4.04(a). Any such write-off with respect to the AMA Plaza Trust Subordinate Companion Loan shall be allocated first,
to the Class AMA-D Certificates, then, to the Class AMA-C Certificates, then, to the Class AMA-B Certificates, and
then, to the Class AMA-A Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates
have been reduced to zero. Any such write-off with respect to the 225 Bush Street Trust Subordinate Companion Loan shall be allocated
first, to the Class 225-E Certificates, then, to the Class 225-D Certificates, then, to the Class 225-C Certificates,
then, to the Class 225-B Certificates, and then, to the Class 225-A Certificates, in each case until the remaining
Certificate Balances of such Classes of such Certificates have been reduced to zero.

 

(c)       With
respect to any Distribution Date, any Realized Losses allocated to a Class of Principal Balance Certificates (other than the Exchangeable
Certificates) and the Class PEZ Regular Interests (and therefore to the Exchangeable Certificates) pursuant to Section 4.04(a)
or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of
the Related Lower-Tier Regular Interest with respect thereto as a write-off.

 

Section
4.05     Appraisal Reduction Amounts; Collateral Deficiency Amounts. (a) For purposes of (x) determining the
Controlling Class (and whether a Control Termination Event has occurred and is continuing) and (y) determining the Voting
Rights of the related

 

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Classes for purposes of removal of the applicable Special Servicer or the Operating Advisor, Appraisal
Reduction Amounts (with respect to a Serviced Whole Loan, to the extent allocated to the related Mortgage Loan or Trust
Subordinate Companion Loan) will be allocated to each Class of Certificates (other than the Exchangeable Certificates) and
the Class PEZ Regular Interests in reverse sequential order to notionally reduce the related Certificate Balances until the
Certificate Balance of each such Class is reduced to zero (i.e., first, to Class G Certificates, second, to the
Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to
the Class C Regular Interest (and correspondingly, to the Class C Certificates and the Class PEZ Certificates, pro
rata based on their respective percentage interests in the Class C Regular Interest), sixth, to the Class B
Regular Interest (and correspondingly, to the Class B Certificates and the Class PEZ Certificates, pro rata based on
their respective percentage interests in the Class B Regular Interest), seventh, to the Class A-S Regular Interest
(and correspondingly, to the Class A-S Certificates and the Class PEZ Certificates, pro rata based on their respective
percentage interests in the Class A-S Regular Interest), and finally, pro rata based on their respective interest
entitlements, to the Senior Certificates). Following receipt from the applicable Special Servicer, the Master Servicer shall
notify the Certificate Administrator of the amount of any Appraisal Reduction Amount with respect to each Mortgage Loan and
Trust Subordinate Companion Loan (which notification may be satisfied through delivery of such information included in
the CREFC® Loan Periodic Update File or the CREFC® Appraisal Reduction Amount Template included in the CREFC®
Investor Reporting Package or such report mutually agreed upon between the Master Servicer and the Certificate
Administrator). Based on information in its possession, the Certificate Administrator shall determine from time to time which
Class of Certificates is the Controlling Class. The Certificate Administrator shall provide notice of the identity of the
Controlling Class as set forth in Section 3.23(m). With respect to any Appraisal Reduction Amount calculated for
purposes of determining the Controlling Class, the appraised value of the related Mortgaged Property will be determined on an
“as-is” basis.

 

As of the first Determination
Date following a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or the Trust Subordinate Companion Loan becoming an AB
Modified Loan, the applicable Special Servicer shall calculate whether a Collateral Deficiency Amount exists with respect to such
AB Modified Loan, taking into account the most recent Appraisal obtained by the applicable Special Servicer with respect to such
Mortgage Loan or Trust Subordinate Companion Loan, as applicable, and all other information relevant to a Collateral Deficiency
Amount determination. The Master Service shall provide (via electronic delivery) the applicable Special Servicer with any information
in its possession that is reasonably required to determine, redetermine, calculate or recalculate any Collateral Deficiency Amount
for any Mortgage Loan (other than any Non-Serviced Mortgage Loan) and any Serviced Companion Loan using reasonable efforts to deliver
such information within four (4) Business Days of the applicable Special Servicer’s reasonable request. Upon obtaining knowledge
or receipt of notice by the Master Servicer that a Non-Serviced Mortgage Loan has become an AB Modified Loan, the Master Servicer
shall (i) promptly request from the related Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee
the most recent appraisal with respect to such AB Modified Loan, in addition to all other information reasonably required by the
Master Servicer to calculate whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan, and (ii) as of
the first Determination Date following receipt by the Master Servicer of the appraisal and any other information set forth in the
immediately preceding clause

 

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(i) that the Master Servicer reasonably expects to receive, calculate whether a Collateral Deficiency
Amount exists with respect to such AB Modified Loan, taking into account the most recent appraisal obtained by the Non-Serviced
Special Servicer with respect to such Non-Serviced Mortgage Loan, and all other information relevant to a Collateral Deficiency
Amount determination. Upon obtaining knowledge or receipt of notice by any other party to this Agreement that a Non-Serviced Mortgage
Loan has become an AB Modified Loan, such party shall promptly notify the Master Servicer thereof. None of the Master Servicer
(with respect to Mortgage Loans other than any Non-Serviced Mortgage Loan), the applicable Special Servicer (with respect to Non-Serviced
Mortgage Loans), the Trustee, the Operating Advisor or the Certificate Administrator shall calculate or verify any Collateral Deficiency
Amount.

 

For purposes of determining
the Pooled Non-Reduced Certificates, the Controlling Class and the occurrence of a Control Termination Event, Appraisal Reduction
Amounts allocated to a related Mortgage Loan will be allocated to each class of Pooled Principal Balance Certificates (other than
the Exchangeable Certificates) and each Class PEZ Regular Interest (and, therefore, to each related class of Exchangeable Certificates)
in reverse sequential order to notionally reduce the Certificate Balance thereof until the related Certificate Balance of each
such class is reduced to zero (i.e., first, to the Class G Certificates, then, to the Class F Certificates, then,
to the Class E Certificates, then, to the Class D Certificates, then, Class C Regular Interest (and correspondingly,
the Class C Certificates and the Class PEZ Component C, pro rata based on their respective percentage interests therein;
then, to the Class B Regular Interest (and correspondingly, the Class B Certificates and the Class PEZ Component B, pro
rata based on their respective percentage interests therein); then, to the Class A-S Regular Interest (and correspondingly,
the Class A-S Certificates and the Class PEZ Component A-S, pro rata based on their respective percentage interests therein);
and finally, pro rata based on their respective interest entitlements, to the Senior Certificates). In addition, for purposes
of determining the Controlling Class and the occurrence of a Control Termination Event, Collateral Deficiency Amounts allocated
to a related Mortgage Loan that is an AB Modified Loan will be allocated to each class of Control Eligible Certificates in reverse
sequential order to notionally reduce the Certificate Balance thereof until the related Certificate Balance of each such class
is reduced to zero (i.e., first, to Class G certificates, second, to the Class F certificates, and third, to the Class E certificates).
For the avoidance of doubt, for purposes of determining the Controlling Class and the occurrence of a Control Termination Event,
any Class of Control Eligible Certificates will be allocated both applicable Appraisal Reduction Amounts and applicable Collateral
Deficiency Amounts, as described in this paragraph.

 

For purposes of determining
the Non-Reduced Certificates, the AMA Plaza Controlling Class, the 225 Bush Street Controlling Class and the occurrence of a Non-Trust
Subordinate Companion Loan Control Termination Event and Trust Subordinate Companion Loan Control Termination Event, Appraisal
Reduction Amounts allocated to the AMA Plaza Whole Loan or 225 Bush Street Whole Loan, as applicable, will be allocated first to
the Non-Trust Subordinate Companion Loan, if any, then to the related Trust Subordinate Companion Loan and then pro rata
to the related Mortgage Loan and the related Pari Passu Companion Loans. Appraisal Reduction Amounts allocated to a Trust Subordinate
Companion Loan will be allocated to each class of related Loan-Specific Certificates (other than the X-AMA and Class X-225 Certificates)
in reverse sequential order to notionally reduce the Certificate Balance thereof until the related Certificate Balance of each
such class is reduced to zero (i.e., with respect to the

 

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AMA Plaza Whole Loan, first, to the Class AMA-D Certificates, then,
to the Class AMA-C Certificates, then, to the Class AMA-B Certificates, and finally, to the Class AMA-A Certificates
or with respect to the 225 Bush Street Whole Loan, first, to the Class 225-E Certificates, then, to the Class 225-D
Certificates, then, to the Class 225-C Certificates, then, to the Class 225-B Certificates, and finally, to
the Class 225-A Certificates). In addition, for purposes of determining the AMA Plaza Controlling Class, the 225 Bush Street Controlling
Class and the occurrence of a Trust Subordinate Companion Loan Control Termination Event, Collateral Deficiency Amounts allocated
to a Trust Subordinate Companion Loan will be allocated to each class of AMA Plaza Control Eligible Certificates or 225 Bush Street
Control Eligible Certificates, as applicable, in reverse sequential order to notionally reduce the Certificate Balance thereof
until the related Certificate Balance of each such class is reduced to zero (i.e., with respect to the AMA Plaza Whole Loan, first,
to the Class AMA-D Certificates, then, to the Class AMA-C Certificates, then, to the Class AMA-B Certificates, and
finally, to the Class AMA-A Certificates or with respect to the 225 Bush Street Whole Loan, first, to the Class 225-E
Certificates, then, to the Class 225-D Certificates, then, to the Class 225-C Certificates, then, to the Class
225-B Certificates, and finally, to the Class 225-A Certificates). For the avoidance of doubt, for purposes of determining
the AMA Plaza Controlling Class, the 225 Bush Street Controlling Class and the occurrence of a Trust Subordinate Companion Loan
Control Termination Event, any Class of AMA Plaza Control Eligible Certificates or 225 Bush Street Control Eligible Certificates,
as applicable, will be allocated both applicable Appraisal Reduction Amounts and applicable Collateral Deficiency Amounts, as described
in this paragraph.

 

The Appraised Value of
any applicable Mortgaged Property is required to be determined on an “as-is” basis for purposes of determining all
Appraisal Reduction Amounts. The applicable Special Servicer (in the case of a Mortgage Loan other than a Non-Serviced Mortgage
Loan) or the Master Servicer (in the case of a Non-Serviced Mortgage Loan) will be required to promptly notify the applicable Special
Servicer or the Master Servicer, as applicable, of any Appraisal Reduction Amounts and any Collateral Deficiency Amounts and the
Master Servicer shall notify the Certificate Administrator of (i) any Appraisal Reduction Amounts and (ii) any Collateral Deficiency
Amounts and any resulting Cumulative Appraisal Reduction Amount (which notification shall be satisfied through delivery of such
information included in the CREFC® Loan Periodic Update File and the CREFC® Appraisal Reduction Amount Template included
in the CREFC® Investor Reporting Package, which shall be delivered simultaneously with the CREFC® Loan Periodic Update
File in accordance with Section 3.12(d), and the Certificate Administrator will be required to promptly post notice of such
Appraisal Reduction Amount, Collateral Deficiency Amount and any resulting Cumulative Appraisal Reduction Amount, as applicable,
to the certificate administrator’s website.

 

(b)       (i)
The Holders of the majority of Voting Rights of any Class of Control Eligible Certificates, AMA Plaza Control Eligible Certificates
or 225 Bush Street Control Eligible Certificates, respectively, that is determined at any time of determination to no longer be
the Controlling Class, the AMA Plaza Controlling Class or the 225 Bush Street Controlling Class (any such Class, an “Appraised-Out
Class”) as a result of an Appraisal Reduction Amount or Collateral Deficiency Amount in respect of such Class shall have
the right, at their sole expense, to require the applicable Special Servicer to order (or, with respect to a Non-Serviced Mortgage
Loan, require the Master Servicer to request from the applicable Non-Serviced Special Servicer) a second Appraisal with respect
to any Mortgage Loan (or Serviced Whole Loan) for which an

 

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Appraisal Reduction Event has occurred or as to which there exists a
Collateral Deficiency Amount (such Holders, the “Requesting Holders”). With respect to any such Mortgage Loan
(other than with respect to a Non-Serviced Mortgage Loan), such applicable Special Servicer shall use its reasonable efforts to
cause such second appraisal to be (i) delivered within thirty (30) days from receipt of the Requesting Holders’ written request
and (ii) prepared on an “as-is” basis by an MAI appraiser (provided that such MAI appraiser may not be the same
MAI appraiser that provided the Appraisal in respect of which the Requesting Holders are requesting the applicable Special Servicer
to obtain an additional Appraisal). With respect to any such Non-Serviced Mortgage Loan, the Master Servicer shall use commercially
reasonable efforts to obtain such second appraisal from the applicable Non-Serviced Special Servicer and to forward such second
appraisal to the applicable Special Servicer.

 

(iii)       Upon
receipt of any supplemental Appraisal pursuant to clause (i) above, the Master Servicer (for Collateral Deficiency Amounts
on Non-Serviced Mortgage Loans), the applicable Non-Serviced Special Servicer (for Appraisal Reduction Amounts on Non-Serviced
Mortgage Loans to the extent provided for in the applicable Non-Serviced Pooling Agreement and applicable Co-Lender Agreement)
and the applicable Special Servicer (for Mortgage Loans other than Non-Serviced Mortgage Loans) shall determine, in accordance
with the Servicing Standard, whether, based on its assessment of such supplemental Appraisal, any recalculation of the Appraisal
Reduction Amount or the Collateral Deficiency Amount, as applicable, is warranted, and if so warranted, such Person shall recalculate
the Appraisal Reduction Amount or Collateral Deficiency Amount, as applicable, based on such supplemental Appraisal. If required
by such recalculation, the Appraised-Out Class shall be reinstated as the Controlling Class, the AMA Plaza Controlling Class or
the 225 Bush Street Controlling Class and each other Appraised-Out Class shall, if applicable, have its related Certificate Balance
notionally restored to the extent required by such recalculation of the Appraisal Reduction Amount or Collateral Deficiency Amount,
if applicable. In addition, the Holders of Certificates representing the majority of the Certificate Balance of any Appraised-Out
Class shall have the right, at their sole expense, to require the applicable Special Servicer to order an additional appraisal
of any Mortgage Loan for which an Appraisal Reduction Event has occurred or as to which there exists a Collateral Deficiency Amount
if an event has occurred at or with regard to the related Mortgaged Property or Mortgaged Properties that would have a material
effect on its appraised value, and the applicable Special Servicer shall use its reasonable efforts to cause such appraisal to
be (i) delivered within thirty (30) days from receipt of the Requesting Holders’ written request and (ii) prepared on an
“as-is” basis by an MAI appraiser; provided, that the applicable Special Servicer shall not be required to obtain
such appraisal if it determines in accordance with the Servicing Standard that no events at or with regard to the related Mortgaged
Property or Mortgaged Properties have occurred that would have a material effect on the appraised value of the related Mortgaged
Property or Mortgaged Properties. The Holders of an Appraised-Out Class requesting any supplemental Appraisal pursuant to clause
(i) above shall refrain from exercising any direction, control, consent and/or similar rights of the Controlling Class, AMA
Plaza Controlling Class or 225 Bush Street Controlling Class, as applicable, until such time, if any, as the Class is reinstated
as the Controlling Class, AMA Plaza Controlling Class or 225 Bush Street Controlling Class, as applicable, (such period beginning
upon receipt by the applicable Special Servicer of any request to obtain a

 

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supplemental Appraisal pursuant to clause (i)
above to but excluding the date on which either (A) such Special Servicer determines that no recalculation of the Appraisal Reduction
Amount or Collateral Deficiency Amount is warranted or (B) such Special Servicer recalculates the Appraisal Reduction Amount or
Collateral Deficiency Amount based on the supplemental Appraisal, the “Appraisal Review Period”). The rights
of the Controlling Class during each Appraisal Review Period shall be exercised by the most senior Control Eligible Certificates,
if any. The rights of the AMA Plaza Controlling Class and 225 Bush Street Controlling Class during each Appraisal Review Period
shall be exercised by the most senior AMA Plaza Control Eligible Certificates and 225 Bush Street Control Eligible Certificates,
respectively, if any.

 

(c)       With
respect to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) and each Serviced Whole Loan as to which an Appraisal Reduction
Event has occurred (unless such Mortgage Loan or Serviced Whole Loan has become a Corrected Loan (for such purposes taking into
account any amendment or modification of such Mortgage Loan, any related Companion Loan or Serviced Whole Loan)), the applicable
Special Servicer shall (1) within thirty (30) days of the end each 9-month period following the related Appraisal Reduction Event,
and (2) upon its determination that the value of the related Mortgaged Property has materially changed, notify the Master Servicer
of the occurrence of such 9-month period or determination and order an Appraisal (which may be an update of a prior Appraisal),
the cost of which shall be paid by the Master Servicer as a Property Protection Advance or to the extent it would be a Nonrecoverable
Advance, an expense of the Trust, or conduct an internal valuation, as applicable and, promptly following receipt of any such Appraisal
or performance of such valuation (or receipt of any Appraisal obtained in accordance with Section 4.05(b) above), shall
deliver a copy thereof to the Master Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and ((i) prior
to the occurrence of any Consultation Termination Event and (ii) other than with respect to any Excluded Loan) the Directing Holder.
Based upon such Appraisal or internal valuation (or any Appraisal obtained in accordance with Section 4.05(b) above) and
(for Mortgage Loans other than Non-Serviced Mortgage Loans) receipt of information reasonably requested by the applicable Special
Servicer from the Master Servicer necessary to calculate the Appraisal Reduction Amount that is either in the Master Servicer’s
possession or reasonably obtainable by the Master Servicer, such Special Servicer shall determine or redetermine, as applicable,
and report to the Master Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and ((i) prior to the occurrence
of any Consultation Termination Event and (ii) other than with respect to any Excluded Loan) the Directing Holder, the amount and
calculation or recalculation of the Appraisal Reduction Amount with respect to such Mortgage Loan, Companion Loan or Serviced Whole
Loan, as applicable, and such report shall be delivered in the CREFC® Appraisal Reduction Amount Template format;
provided, however, that the applicable Special Servicer shall not be liable for failure to comply with such duties
insofar as such failure results from a failure of the Master Servicer to provide sufficient information to such Special Servicer
to comply with such duties or failure by the Master Servicer to otherwise comply with its obligations hereunder. Such report shall
also be forwarded by the Master Servicer (or such Special Servicer if the related Mortgage Loan is a Specially Serviced Mortgage
Loan), to the extent the related Serviced Companion Loan has been included in an Other Securitization, to the Other Servicer of
such Other Securitization into which the related Serviced Companion Loan has been sold, or to the holder of any related Serviced
Companion Loan by the Master Servicer (or such Special Servicer if the

 

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related Mortgage Loan is a Specially Serviced Mortgage Loan).
If the applicable Special Servicer is required to redetermine the Appraisal Reduction Amount, such redetermined Appraisal Reduction
Amount shall replace the prior Appraisal Reduction Amount with respect to such Mortgage Loan, Companion Loan or Serviced Whole
Loan, as applicable. Prior to the occurrence of a Consultation Termination Event and other than with respect to any Excluded Loan,
the applicable Special Servicer shall consult with the Directing Holder with respect to any Appraisal, valuation or downward adjustment
in connection with an Appraisal Reduction Amount. Notwithstanding the foregoing but subject to Section 4.05(b), the applicable
Special Servicer will not be required to obtain an Appraisal or conduct an internal valuation, as applicable, with respect to a
Mortgage Loan or related Companion Loan or Serviced Whole Loan as to which an Appraisal Reduction Event has occurred to the extent
the applicable Special Servicer has obtained an Appraisal or conducted such a valuation (in accordance with requirements of this
Agreement), as applicable, with respect to the related Mortgaged Property within the nine-month period immediately prior to the
occurrence of such Appraisal Reduction Event. Instead, the applicable Special Servicer may use such prior Appraisal or valuation,
as applicable, in calculating any Appraisal Reduction Amount with respect to such Mortgage Loan or related Companion Loan or Serviced
Whole Loan; provided that the applicable Special Servicer is not aware of any material change to the related Mortgaged Property
having occurred and affecting the validity of such Appraisal or valuation.

 

The Master
Servicer shall deliver electronically to the applicable Special Servicer any information in its possession that is reasonably required
to determine, calculate, redetermine or recalculate any Appraisal Reduction Amount, using reasonable efforts to deliver such information,
within four (4) Business Days following the applicable Special Servicer’s reasonable request therefor; provided, the applicable
Special Servicer’s failure to timely make such request shall not relieve the Master Servicer of its obligation to use reasonable
efforts to provide such information to the applicable Special Servicer within four (4) Business Days following the applicable Special
Servicer’s reasonable request.

 

(d)       Any
Mortgage Loan (other than a Non-Serviced Mortgage Loan), any related Serviced Companion Loan and any Serviced Whole Loan, as applicable,
previously subject to an Appraisal Reduction Amount, which has become a Corrected Loan (for such purposes taking into account any
amendment or modification of such Mortgage Loan, any related Serviced Companion Loan and any Serviced Whole Loan, as applicable),
and with respect to which no other Appraisal Reduction Event has occurred and is continuing, will no longer be subject to an Appraisal
Reduction Amount. Any Appraisal Reduction Amount in respect of a Non-Serviced Whole Loan shall be calculated by the applicable
party under and in accordance with and pursuant to the terms of the applicable Non-Serviced Pooling Agreement.

 

(e)       Each
Serviced Whole Loan will be treated as a single Mortgage Loan for purposes of calculating an Appraisal Reduction Amount with respect
to the Mortgage Loan and Companion Loan(s) that comprise such Serviced Whole Loan. Any Appraisal Reduction Amount in respect of
a Serviced AB Whole Loan will be allocated in accordance with the related Co-Lender Agreement or, if no allocation is specified
in the related Co-Lender Agreement, then, first, to the related AB Subordinate Companion Loan (or with respect to the AMA Plaza
Whole Loan, first, to the Non-Trust Subordinate Companion Loan and then, to the related Trust Subordinate Companion Loan) (until
its principal balance is notionally reduced to zero by such

 

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Appraisal Reduction Amounts) and second, pro rata to the related
AB Mortgage Loan and any related Pari Passu Companion Loan. Any Appraisal Reduction Amount in respect of any Serviced Pari Passu
Whole Loan will be allocated in accordance with the related Co-Lender Agreement or, if no allocation is specified in the related
Co-Lender Agreement, then, pro rata, between the related Serviced Pari Passu Mortgage Loan and the related Serviced Pari Passu
Companion Loan, based upon their respective Stated Principal Balances.

 

Section
4.06     Grantor Trust Reporting. (a) The parties intend that the portion of the Trust Fund
constituting the Grantor Trust, shall constitute, and that the affairs of the Grantor Trust shall be conducted so as to
qualify such portion as, a “grantor trust” under subpart E, part I of subchapter J of the Code, and the
provisions hereof shall be interpreted consistently with this intention. In furtherance of such intention, neither the
Trustee nor the Certificate Administrator shall have the power to vary the investment of the Holders of the Exchangeable
Certificates in the Grantor Trust so as to improve their rate of return. The Certificate Administrator shall prepare or cause
to be prepared, submit to the Trustee for execution (and the Trustee shall timely execute and timely return to the
Certificate Administrator) and timely file all Tax Returns in respect of the Grantor Trust. In addition, the
Certificate Administrator shall (A) file, or cause to be filed, Internal Revenue Service Form 1099, Form 1041 or such other
form as may be applicable with the Internal Revenue Service with copies of the statements in the following clause, (B)
furnish, or cause to be furnished, to the Holders of the Class S Certificates, their allocable share of income and expense
with respect to Class S Certificates, the Excess Interest and the Excess Interest Distribution Account, and (C) furnish, or
cause to be furnished, to the Holders of Exchangeable Certificates, their allocable share of income and expense with respect
to the Exchangeable Certificates and the Class PEZ Distribution Account, in the time or times and in the manner required by
the Code.

 

(b)       The
Grantor Trust is a WHFIT that is a WHMT. The Certificate Administrator will report as required under the WHFIT Regulations to the
extent such information as is reasonably necessary to enable the Certificate Administrator to do so is provided to the Certificate
Administrator on a timely basis. The Certificate Administrator is hereby directed to assume that DTC is the only “middleman”
as defined by the WHFIT Regulations unless the Depositor provides the Certificate Administrator with the identities of other “middlemen”
that are Certificateholders. The Certificate Administrator shall be entitled to indemnification in accordance with the terms of
this Agreement in the event that the Internal Revenue Service makes a determination that the first sentence of this paragraph is
incorrect.

 

(c)       The
Certificate Administrator shall report required WHFIT information using the accrual method, except to the extent the WHFIT Regulations
specifically require a different method. The Certificate Administrator shall be under no obligation to determine whether any Certificateholder
uses the cash or accrual method. The Certificate Administrator shall make available (via its website) WHFIT information to Certificateholders
annually. In addition, the Certificate Administrator shall not be responsible or liable for providing subsequently amended, revised
or updated information to any Certificateholder, unless requested by the Certificateholder.

 

(d)       The
Certificate Administrator shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor for any
penalties thereunder if such failure

 

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is due to: (i) the lack of reasonably necessary information being provided to the Certificate
Administrator or (ii) incomplete, inaccurate or untimely information being provided to the Certificate Administrator. Each Holder
of Exchangeable Certificates, by acceptance of its interest in such class of securities, will be deemed to have agreed to provide
the Certificate Administrator with information regarding any sale of such securities, including the price, amount of proceeds and
date of sale. Absent receipt of information regarding any sale of Exchangeable Certificates, including the price, amount of proceeds
and date of sale from the beneficial owner thereof or the Depositor, the Certificate Administrator shall assume there is no secondary
market trading of WHFIT interests.

 

Section
4.07     Investor Q&A Forum; Investor Registry; and Rating Agency Q&A Forum and Document
Request Tool. (a) The Certificate Administrator shall make available, only to Privileged Persons, the Investor Q&A
Forum. The “Investor Q&A Forum” shall be a service available on the Certificate Administrator’s
Website, where (i) Certificateholders and beneficial owners of Certificates that are Privileged Persons may submit questions
to (A) the Certificate Administrator relating to the Distribution Date Statement, (B) the Master Servicer or the applicable
Special Servicer, as the case may be, relating to the reports being made available pursuant to Section 3.13(b), the
Mortgage Loans (excluding any Non-Serviced Mortgage Loan), the Trust Subordinate Companion Loan or the related Mortgaged
Properties or (C) the Operating Advisor relating to the Operating Advisor Annual Report or other reports prepared by the
Operating Advisor or actions by the applicable Special Servicer referenced in any Operating Advisor Annual Report (each an
“Inquiry” and collectively, “Inquiries”), and (ii) Privileged Persons may view
Inquiries that have been previously submitted and answered, together with the answers thereto. Upon receipt of an Inquiry for
the Master Servicer, the applicable Special Servicer, Certificate Administrator or the Operating Advisor, as applicable,
and in the case of any Inquiry relating to a Non-Serviced Mortgage Loan, to the related Non-Serviced Master Servicer or
related Non-Serviced Special Servicer, as applicable, the Certificate Administrator shall forward the Inquiry to the
appropriate person (in the case of the Master Servicer to the following: REAM_InvestorRelations@wellsfargo.com), in each case
within a commercially reasonable period of time following receipt thereof. Following receipt of an Inquiry, the Master
Servicer, the applicable Special Servicer, the Certificate Administrator or the Operating Advisor, as applicable, unless such
party determines not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Master
Servicer, such Special Servicer or the Operating Advisor, as applicable, shall be delivered to the Certificate Administrator
by electronic mail. In the case of an Inquiry relating to a Non-Serviced Mortgage Loan, the Certificate Administrator shall
make reasonable efforts to obtain an answer from the related Non-Serviced Master Servicer or the related Non-Serviced Special
Servicer, as applicable; provided that the Certificate Administrator shall not be responsible for the content of such
answer or any delay or failure to obtain such answer. The Certificate Administrator shall post (within a commercially
reasonable period of time following preparation or receipt of such answer, as the case may be) such Inquiry and the related
answer to the Certificate Administrator’s Website. If the Certificate Administrator, the Master Servicer, the
applicable Special Servicer or the Operating Advisor determines, in its respective sole discretion, that (i) any Inquiry is
beyond the scope of the topics described above, (ii) answering any Inquiry would not be in the best interests of the Trust
and/or the Certificateholders, (iii) answering any Inquiry would be in violation of applicable law, the applicable
Mortgage Loan documents or this Agreement, (iv) answering any Inquiry would materially increase the duties of, or result in
significant additional cost or expense to, the Master

 

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Servicer, the applicable Special Servicer, the Certificate
Administrator or the Operating Advisor, as applicable, (v) answering any Inquiry would require the disclosure of Privileged
Information (subject to the Privileged Information Exception), or (vi) answering any Inquiry is otherwise, for any reason,
not advisable, it shall not be required to answer such Inquiry and, in the case of the Master Servicer, the applicable
Special Servicer or the Operating Advisor, shall promptly notify the Certificate Administrator of such determination. In
addition, no party shall post or otherwise disclose any direct communications with the Directing Holder as part of its
response to any Inquiries. The Certificate Administrator shall notify the Person who submitted such Inquiry in the event that
the Inquiry will not be answered. Any notice by the Certificate Administrator to the Person who submitted an Inquiry that
will not be answered shall include the following statement: “Because the Pooling and Servicing Agreement provides that
the Master Servicer, a Special Servicer, the Certificate Administrator and the Operating Advisor shall not answer an Inquiry
if it determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope of the topics described in the
Pooling and Servicing Agreement, (ii) answering any Inquiry would not be in the best interests of the Trust and/or the
Certificateholders, (iii) answering any Inquiry would be in violation of applicable law or the applicable Mortgage Loan
documents, (iv) answering any Inquiry would materially increase the duties of, or result in significant additional costs or
expenses to the Trustee, the Master Servicer, a Special Servicer, the Certificate Administrator or Operating Advisor, as
applicable, (v) answering any Inquiry would require the disclosure of Privileged Information, or (vi) answering any
Inquiry is otherwise, for any reason, not advisable, no inference should or may be drawn from the fact that the Master
Servicer, a Special Servicer, the Certificate Administrator or the Operating Advisor has declined to answer the
Inquiry.” Answers posted on the Investor Q&A Forum will be attributable only to the respondent, and shall not be
deemed to be answers from any of the Depositor, the Underwriters or any of their respective Affiliates. None of the
Underwriters, Depositor, the Master Servicer, the Special Servicers, the Certificate Administrator, the Trustee or the
Operating Advisor or any of their respective Affiliates will certify to any of the information posted in the Investor Q&A
Forum and no such party shall have any responsibility or liability for the content of any such information. The Certificate
Administrator shall not be required to post to the Certificate Administrator’s Website any Inquiry or answer thereto
that the Certificate Administrator determines, in its sole discretion, is administrative or ministerial in nature. The
Investor Q&A Forum will not reflect questions, answers and other communications that are not submitted via the
Certificate Administrator’s Website. Notwithstanding the foregoing, the Operating Advisor shall not be required to
respond to any Inquiries from Certificateholders for which its response would require the Operating Advisor to
provide information to such inquiring Certificateholders that they are otherwise not entitled to receive under the terms of
this Agreement.

 

(b)       The
Certificate Administrator shall make available to any Certificateholder and any Certificate Owner that is a Privileged Person,
the Investor Registry. The “Investor Registry” shall be a voluntary service available on the Certificate Administrator’s
Website, where Certificateholders and Certificate Owners that are Privileged Persons can register and thereafter obtain information
with respect to any other Certificateholder or Certificate Owner that has so registered. Any person registering to use the Investor
Registry will be required to certify that (a) it is a Certificateholder or a Certificate Owner and a Privileged Person and (b)
it grants authorization to the Certificate Administrator to make its name and contact information available on the Investor Registry
for at least forty-five (45) days from the date of such

 

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certification to persons entitled to access to the Investor Registry. Such
Person shall then be asked to enter certain mandatory fields such as the individual’s name, the company name and email address,
as well as certain optional fields such as address, phone, and Class(es) of Certificates owned. If any Certificateholder or Certificate
Owner notifies the Certificate Administrator that it wishes to be removed from the Investor Registry (which notice may not be within
forty-five (45) days of its registration), the Certificate Administrator shall promptly remove it from the Investor Registry. The
Certificate Administrator will not be responsible for verifying or validating any information submitted on the Investor Registry,
or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate Administrator may require acceptance
of a waiver and disclaimer for access to the Investor Registry.

 

(c)       The
17g-5 Information Provider shall make available, only to NRSROs, the Rating Agency Q&A Forum and Document Request Tool. The
“Rating Agency Q&A Forum and Document Request Tool” shall be a service available on the 17g-5 Information
Provider’s Website, where NRSROs may (i) submit questions to the Certificate Administrator relating to any Distribution Date
Statements, or submit questions to the Master Servicer or the applicable Special Servicer, as the case may be, relating to the
reports prepared by such parties (each such submission, a “Rating Agency Inquiry”), and (ii) view Rating Agency
Inquiries that have been previously submitted and answered, together with the responses thereto. In addition, NRSROs may use the
forum to submit requests (each such submission also, a “Rating Agency Inquiry”) to the Master Servicer for loan-level
reports and other related information. Upon receipt of a Rating Agency Inquiry for the Master Servicer or the applicable Special
Servicer, the 17g-5 Information Provider shall forward the Rating Agency Inquiry to the appropriate person (in the case of the
Master Servicer to the following: RAInvRequests@wellsfargo.com), in each case within a commercially reasonable period of time following
receipt thereof. Following receipt of a Rating Agency Inquiry from the 17g-5 Information Provider, the Master Servicer or the applicable
Special Servicer, as the case may be, unless it determines not to answer such Rating Agency Inquiry as provided below, shall reply
by email to the Certificate Administrator. The 17g-5 Information Provider shall post (within a commercially reasonable period of
time following receipt of such response) such Rating Agency Inquiry with the related response thereto (or such reports, as applicable)
to the Rating Agency Q&A Forum and Document Request Tool. Any reports posted by the 17g-5 Information Provider in response
to an inquiry may be posted on a separate website or web page accessible by a link on the 17g-5 Information Provider’s Website.
If the Certificate Administrator, the Master Servicer or the applicable Special Servicer determines, in its respective sole discretion,
that (i) answering any Rating Agency Inquiry would be in violation of applicable law, the Servicing Standard, this Agreement or
any Mortgage Loan documents, (ii) answering any Rating Agency Inquiry would or is reasonably expected to result in a waiver of
an attorney-client privilege with, or the disclosure of attorney work product, or (iii) (A) answering any Rating Agency Inquiry
would materially increase the duties of, or result in significant additional cost or expense to, the Certificate Administrator,
the Master Servicer or such Special Servicer, as applicable, and (B) the Certificate Administrator, the Master Servicer or such
Special Servicer, as applicable, determines in accordance with the Servicing Standard (or in good faith, in the case of the Certificate
Administrator) that the performance of such duties or the payment of such costs and expenses is beyond the scope of its duties
in its capacity as Certificate Administrator, Master Servicer or the applicable Special Servicer, as applicable, under this Agreement,
it shall not be required to answer such Rating Agency Inquiry and shall promptly notify the 17g-5 Information Provider by email
of such determination. The 17g-5

 

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Information Provider shall promptly thereafter post the Rating Agency Inquiry with the reason
it was not answered to the Rating Agency Q&A Forum and Document Request Tool. The 17g-5 Information Provider will not be liable
for the failure by any other such Person to so answer. Questions posted on the Rating Agency Q&A Forum and Document Request
Tool shall not be attributed to the submitting NRSRO. Answers posted on the Rating Agency Q&A Forum and Document Request Tool
will be attributable only to the respondent, and shall not be deemed to be answers from any other person. None of the Underwriters,
the Depositor, or any of their respective Affiliates will certify to any of the information posted in the Rating Agency Q&A
Forum and Document Request Tool and no such party shall have any responsibility or liability for the content of any such information.
The 17g-5 Information Provider shall not be required to post to the 17g-5 Information Provider’s Website any Rating Agency
Inquiry or answer thereto that the 17g-5 Information Provider determines, in its sole discretion, is administrative or ministerial
in nature. The Rating Agency Q&A Forum and Document Request Tool will not reflect questions, answers and other communications
that are not submitted via the 17g-5 Information Provider’s Website.

 

Section
4.08     Secure Data Room. (a)     The Certificate Administrator shall create a Secure Data Room and the Depositor shall, upon
the receipt of the Mortgage Loan Seller’s Diligence File Certification and within 120 days following the Closing Date,
deliver to the Certificate Administrator an electronic copy of the Diligence Files for the Mortgage Loans that have been
uploaded by the Mortgage Loan Sellers to the Intralinks Site. Upon receipt thereof, the Certificate Administrator shall
promptly upload the contents of each Diligence File actually received by it to the Secure Data Room. Access to the Secure
Data Room shall be granted by the Certificate Administrator to (i) the Asset Representations Reviewer and (ii) any other
Person at the direction of the Depositor, in each case, upon the occurrence of an Affirmative Asset Review Vote and receipt
by the Certificate Administrator of a certification substantially in the form of Exhibit RR hereto (which shall be
sent via email to trustadministrationgroup@wellsfargo.com or submitted electronically via the Certificate
Administrator’s website). In no case whatsoever shall Certificateholders be permitted to access the Secure Data Room.
For the avoidance of doubt, the Certificate Administrator shall be under no obligation to post any documents or information
to the Secure Data Room other than the contents of the Diligence Files initially delivered to it by the Depositor.

 

(b)       The
Certificate Administrator shall not have any obligation or duty to verify, review, confirm or otherwise determine whether the type,
number or contents of any Diligence File delivered to the Certificate Administrator is accurate, complete, or relates to the transaction
or confirm that all documents and information constituting any Diligence File have actually been delivered to the Certificate Administrator.
In no case shall the Certificate Administrator be deemed to have obtained actual or constructive knowledge of the contents of,
or information contained in, any Diligence File by virtue of posting such Diligence File to the Secure Data Room. In the event
that any document or information is posted in error, the Certificate Administrator may remove such document or information from
the Secure Data Room. The Certificate Administrator shall not have any obligation to produce physical or electronic copies of any
document or information provided to it for posting to the Secure Data Room. The Certificate Administrator shall not be responsible
or held liable for any other Person’s use or dissemination of the documents or information contained on the Secure Data Room;
provided that such event or occurrence is not also a result of its own negligence, bad faith

 

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or willful misconduct. The
Certificate Administrator shall not be required to restrict access to the Secure Data Room on a loan-by-loan basis and any Person
with access to the Secure Data Room shall covenant to access only the information necessary to perform its duties and responsibilities
under this Agreement.

 

(c)       Upon
the resignation or removal of the Certificate Administrator pursuant to Section 8.07, the Certificate Administrator shall
transfer electronic copies of the Diligence Files to a successor certificate administrator designated in writing by the Depositor
and all costs and expenses associated with the transfer of the Diligence Files shall be payable as part of the costs and expenses
associated with the transfer of its responsibilities upon the resignation or removal of the Certificate Administrator pursuant
to Section 8.07. Following the date on which any Mortgage Loan is paid in full, liquidated, repurchased or otherwise removed
from the Trust or the applicable Special Servicer may direct the Certificate Administrator in writing to delete the Diligence File
related to such Mortgage Loan from the Secure Data Room; provided that absent such direction, the Certificate Administrator
shall not be obligated to delete any Diligence File from the Secure Data Room. Following the termination of the Trust pursuant
to Section 9.01, the Certificate Administrator shall be permitted to delete all files from the Secure Data Room. Upon deletion,
in no event shall the Certificate Administrator be obligated to reproduce or retrieve such deleted files.

 

[End of Article IV]

 

Article
V

THE CERTIFICATES

 

Section
5.01     The Certificates. (a) The Certificates will be substantially in the respective forms
annexed hereto as Exhibits A-1 through and including A-23, with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Agreement or as may, in the reasonable judgment of
the Certificate Registrar, be necessary, appropriate or convenient to comply, or facilitate compliance, with applicable laws,
and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be
required by law, or as may, consistently herewith, be determined by the officers executing such Certificates, as evidenced by
their execution thereof. The Class X Certificates will be issuable only in minimum Denominations of authorized initial
Notional Amount of not less than $1,000,000 and in integral multiples of $1.00 in excess of $1,000,000. The Offered
Certificates (other than the Class X-A Certificates and Class X-B Certificates) will be issuable only in minimum
Denominations of authorized initial Certificate Balance of not less than $10,000, and in integral multiples of $1.00 in
excess thereof. The Non-Registered Certificates (other than the Class X-D, Class X-AMA, Class X-225 and the Class R
Certificates) will be issuable in minimum Denominations of authorized initial Certificate Balance of not less than $100,000,
and in integral multiples of $1.00 in excess thereof. If the Original Certificate Balance or initial Notional Amount, as
applicable, of any Class does not equal an integral multiple of $1.00, then a single additional Certificate of such Class may
be issued in a minimum denomination of authorized initial Certificate Balance or initial Notional Amount, as applicable, that
includes the excess of (i) the Original Certificate Balance or initial Notional Amount, as applicable, of such Class over
(ii) the largest integral multiple of $1.00 that

 

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does not exceed such amount. The Class R Certificates shall be issued,
maintained and transferred in minimum percentage interests of 10% of such Class R Certificates and in integral multiples of
1% in excess thereof.

 

(b)       One
authorized signatory shall sign the Certificates for the Certificate Registrar by manual or facsimile signature. If an authorized
signatory whose signature is on a Certificate no longer holds that office at the time the Certificate Registrar countersigns the
Certificate, the Certificate shall be valid nevertheless. A Certificate shall not be valid until an authorized signatory of the
Certificate Registrar (who may be the same officer who executed the Certificate) manually countersigns the Certificate. The signature
shall be conclusive evidence that the Certificate has been executed and countersigned under this Agreement.

 

Section
5.02     Form and Registration. No transfer of any Non-Registered Certificate shall be made
unless that transfer is made pursuant to an effective registration statement under the Securities Act, and effective
registration or qualification under applicable state securities laws, or is made in a transaction which does not require such
registration or qualification. If a transfer (other than one by the Depositor to an Affiliate thereof or by the Initial
Purchasers to Eightfold Real Estate Capital, L.P.) is to be made in reliance upon an exemption from the Securities
Act, and under the applicable state securities laws, then either:

 

(a)       Each
Class of the Non-Registered Certificates sold to institutions that are non-United States Securities Persons in Offshore Transactions
in reliance on Regulation S under the Act shall initially be represented by a temporary book-entry certificate in definitive, fully
registered form without interest coupons, substantially in the applicable form set forth as an exhibit hereto (each a “Temporary
Regulation S Book-Entry Certificate”), which shall be deposited on the Closing Date on behalf of the purchasers of the
Non-Registered Certificates represented thereby with the Certificate Registrar, at its principal trust office, as custodian, for
the Depository, and registered in the name of the Depository or the nominee of the Depository for the account of designated agents
holding on behalf of Euroclear and/or Clearstream. Prior to the expiration of the 40-day period commencing on the later of the
commencement of the offering and the Closing Date (the “Restricted Period”), beneficial interests in each Temporary
Regulation S Book-Entry Certificate may be held only through Euroclear or Clearstream. After the expiration of the Restricted Period,
a beneficial interest in a Temporary Regulation S Book-Entry Certificate may be exchanged for an interest in the related Regulation
S Book-Entry Certificate in the applicable form set forth as an exhibit hereto in accordance with the procedures set forth in Section
5.03(f). During the Restricted Period, distributions due in respect of a beneficial interest in a Temporary Regulation S Book-Entry
Certificate shall only be made upon delivery to the Certificate Registrar by Euroclear or Clearstream, as applicable, of a Non-U.S.
Beneficial Ownership Certification. After the expiration of the Restricted Period, distributions due in respect of any beneficial
interests in a Temporary Regulation S Book-Entry Certificate shall not be made to the holders of such beneficial interests unless
exchange for a beneficial interest in the Regulation S Book-Entry Certificate of the same Class is improperly withheld or refused.
The aggregate Certificate Balance of a Temporary Regulation S Book-Entry Certificate or a Regulation S Book-Entry Certificate may
from time to time be increased or decreased by adjustments made on the records of the Certificate Registrar, as custodian for the
Depository, as hereinafter provided.

 

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On the Closing Date,
the Certificate Administrator shall execute, the Authenticating Agent shall authenticate, and the Certificate Administrator shall
deliver to the Certificate Registrar the Regulation S Book-Entry Certificates, which shall be held by the Certificate Registrar
for purposes of effecting the exchanges contemplated by the preceding paragraph. Wells Fargo Bank, National Association is hereby
initially appointed the Authenticating Agent with the power to act, on the Trustee’s behalf, in the authentication and delivery
of the Certificates in connection with transfers and exchanges as herein provided. If Wells Fargo Bank, National Association is
removed as Certificate Administrator, then Wells Fargo Bank, National Association shall be terminated as Authenticating Agent.
If the Authenticating Agent is terminated, the Trustee shall appoint a successor authenticating agent, which may be the Trustee
or an Affiliate thereof.

 

The Loan-Specific Certificates
shall not be offered in Offshore Transactions in reliance on Regulation S under the Act.

 

(b)       Certificates
of each Class of Non-Registered Certificates offered and sold to Qualified Institutional Buyers in reliance on Rule 144A under
the Act (“Rule 144A”) shall be represented by Rule 144A Book-Entry Certificates, which shall be deposited with
the Certificate Registrar or an agent of the Certificate Registrar, as custodian for the Depository, and registered in the name
of the Depository or a nominee of the Depository. The aggregate Certificate Balance of a Rule 144A Book-Entry Certificate may from
time to time be increased or decreased by adjustments made on the records of the Certificate Registrar, as custodian for the Depository,
as hereinafter provided. The Loan-Specific Certificates may only be offered and sold to Qualified Institutional Buyers in reliance
on Rule 144A.

 

(c)       Certificates
of each Class of Non-Registered Certificates that are initially offered and sold to investors that are Institutional Accredited
Investors that are not Qualified Institutional Buyers (the “Non-Book Entry Certificates”) shall be in the form
of Definitive Certificates, substantially in the applicable form set forth as an exhibit hereto, and shall be registered in the
name of such investors or their nominees by the Certificate Registrar who shall deliver the certificates for such Non-Book Entry
Certificates to the respective beneficial owners or owners. The Loan-Specific Certificates shall not be offered, sold or transferred
to investors that are Institutional Accredited Investors who are not also Qualified Institutional Buyers. For the avoidance of
doubt, the Class R Certificates shall only be in the form of Definitive Certificates.

 

(d)       Owners
of beneficial interests in Book-Entry Certificates of any Class shall not be entitled to receive physical delivery of certificated
Certificates unless: (i) the Depository advises the Certificate Registrar in writing that the Depository is no longer willing or
able to discharge properly its responsibilities as depository with respect to the Book-Entry Certificates of such Class or ceases
to be a Clearing Agency, and the Certificate Registrar and the Depository are unable to locate a qualified successor within ninety
(90) days of such notice or (ii) the Trustee has instituted or has been directed to institute any judicial proceeding to enforce
the rights of the Holders of such Class and the Trustee has been advised by counsel that in connection with such proceeding it
is necessary or appropriate for the Certificate Registrar to obtain possession of the Certificates of such Class; provided,
however, that under no circumstances will certificated Non-Registered Certificates be issued to beneficial owners of a

 

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Temporary
Regulation S Book-Entry Certificate. Upon notice of the occurrence of any of the events described in clause (i) or (ii)
above with respect to any Certificates of a Class that are in the form of Book-Entry Certificates and upon surrender by the Depository
of any Book-Entry Certificate of such Class and receipt from the Depository of instructions for re-registration, the Certificate
Registrar shall issue Certificates of such Class in the form of Definitive Certificates (bearing, in the case of a Definitive Certificate
issued for a Rule 144A Book-Entry Certificate, the same legends regarding transfer restrictions borne by such Book-Entry Certificate),
and thereafter the Certificate Registrar shall recognize the Holders of such Definitive Certificates as Certificateholders under
this Agreement. Unless and until Definitive Certificates are issued in respect of a Class of Book-Entry Certificates, beneficial
ownership interests in such Class of Certificates will be maintained and transferred on the book entry records of the Depository
and Depository Participants, and all references to actions by Holders of such Class of Certificates will refer to action taken
by the Depository upon instructions received from the related registered Holders of Certificates through the Depository Participants
in accordance with the Depository’s procedures and, except as otherwise set forth herein, all references herein to payments,
notices, reports and statements to Holders of such Class of Certificates will refer to payments, notices, reports and statements
to the Depository or its nominee as the registered Holder thereof, for distribution to the related registered Holders of Certificates
through the Depository Participants in accordance with the Depository’s procedures.

 

Section
5.03     Registration of Transfer and Exchange of Certificates. (a) The Certificate
Administrator shall keep or cause to be kept at the Corporate Trust Office books (the “Certificate
Register”) in which, subject to such reasonable regulations as it may prescribe, the Certificate Administrator
shall provide for the registration of Certificates and of transfers and exchanges of Certificates as herein provided (the
Certificate Administrator, in such capacity, being the “Certificate Registrar”). In such capacities, the
Certificate Administrator shall be responsible for, among other things, (i) maintaining the Certificate Register and a record
of the aggregate holdings of Certificates of each Class of Non-Registered Certificates represented by a Temporary Regulation
S Book-Entry Certificate, a Regulation S Book-Entry Certificate and a Rule 144A Book-Entry Certificate and accepting
Certificates for exchange and registration of transfer and (ii) transmitting to the Depositor, the Master Servicer and the
Special Servicers any notices from the Certificateholders.

 

(b)       Subject
to the restrictions on transfer set forth in this Article V, upon surrender for registration of transfer of any Certificate,
the Certificate Registrar shall execute, authenticate and deliver, in the name of the designated transferee or transferees, one
or more new Certificates in authorized denominations, in like aggregate interest and of the same Class.

 

(c)       Rule
144A Book-Entry Certificate to Temporary Regulation S Book-Entry Certificate. If a holder of a beneficial interest in the Rule
144A Book-Entry Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time during
the Restricted Period to exchange its interest in such Rule 144A Book-Entry Certificate for an interest in the Temporary Regulation
S Book-Entry Certificate of the same Class, or to transfer its interest in such Rule 144A Book-Entry Certificate to a Person who
is required to take delivery thereof in the form of an interest in the Temporary Regulation S Book-Entry Certificate of the same
Class, such holder may, subject to the rules and procedures of the Depository, exchange or cause the exchange of such interest
for an equivalent beneficial interest in such Temporary

 

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Regulation S Book-Entry Certificate. Upon receipt by the Certificate Registrar,
as registrar, at its office designated in Section 5.07 hereof, of (1) instructions given in accordance with the Depository’s
procedures from a Depository Participant directing the Certificate Registrar to credit, or cause to be credited, a beneficial interest
in the Temporary Regulation S Book-Entry Certificate in an amount equal to the beneficial interest in the Rule 144A Book-Entry
Certificate to be exchanged, (2) a written order given in accordance with the Depository’s procedures containing information
regarding the Euroclear or Clearstream account to be credited with such increase and the name of such account and (3) a certificate
in the form of Exhibit I hereto given by the holder of such beneficial interest stating that the transfer of such interest
has been made in compliance with the transfer restrictions applicable to the Book-Entry Certificates and pursuant to and in accordance
with Regulation S, then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate
Balance of the Rule 144A Book-Entry Certificate and to increase, or cause to be increased, the Certificate Balance of the Temporary
Regulation S Book-Entry Certificate by the aggregate Certificate Balance of the beneficial interest in the Rule 144A Book-Entry
Certificate to be exchanged, to credit or cause to be credited to the account of the Person specified in such instructions (who
shall be the agent member of Euroclear or Clearstream, or both) a beneficial interest in the Temporary Regulation S Book-Entry
Certificate equal to the reduction in the Certificate Balance of the Rule 144A Book-Entry Certificate, and to debit, or cause to
be debited, from the account of the Person making such exchange or transfer the beneficial interest in the Rule 144A Book-Entry
Certificate that is being exchanged or transferred.

 

(d)       Rule
144A Book-Entry Certificate to Regulation S Book-Entry Certificate. If a holder of a beneficial interest in the Rule 144A Book-Entry
Certificate deposited with the Certificate Registrar as custodian for the Depository wishes at any time following the Restricted
Period to exchange its interest in such Rule 144A Book-Entry Certificate for an interest in the Regulation S Book-Entry Certificate
of the same Class, or to transfer its interest in such Rule 144A Book-Entry Certificate to a Person who is required to take delivery
thereof in the form of an interest in a Regulation S Book-Entry Certificate, such holder may, subject to the rules and procedures
of the Depository, exchange, or cause the exchange of, such interest for an equivalent beneficial interest in such Regulation S
Book-Entry Certificate. Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.07
hereof, of (1) instructions given in accordance with the Depository’s procedures from a Depository Participant directing
the Certificate Registrar to credit or cause to be credited a beneficial interest in the Regulation S Book-Entry Certificate in
an amount equal to the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged, (2) a written order given in
accordance with the Depository’s procedures containing information regarding the participant account of the Depository to
be credited with such increase and (3) a certificate in the form of Exhibit J hereto given by the holder of such beneficial
interest stating (A) that the transfer of such interest has been made in compliance with the transfer restrictions applicable to
the Book-Entry Certificates and pursuant to and in accordance with Regulation S, or (B) that the transferee is otherwise entitled
to hold its interest in the applicable Certificates in the form of an interest in the Regulation S Book-Entry Certificate, without
any registration of such Certificates under the Act (in which case such certificate shall enclose an Opinion of Counsel to such
effect and such other documents as the Certificate Registrar may reasonably require), then the Certificate Registrar shall instruct
the Depository to reduce, or cause to be reduced, the Certificate Balance of the Rule 144A Book-Entry Certificate and to increase,
or cause to be increased, the Certificate

 

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Balance of the Regulation S Book-Entry Certificate by the aggregate Certificate Balance
of the beneficial interest in the Rule 144A Book-Entry Certificate to be exchanged, to credit or cause to be credited to the account
of the Person specified in such instructions a beneficial interest in the Regulation S Book-Entry Certificate equal to the reduction
in the Certificate Balance of the Rule 144A Book-Entry Certificate, and to debit, or cause to be debited, from the account of the
Person making such exchange or transfer the beneficial interest in the Rule 144A Book-Entry Certificate that is being exchanged
or transferred.

 

(e)       Temporary
Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to Rule 144A Book-Entry Certificate. If a holder
of a beneficial interest in a Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate deposited with
the Certificate Registrar as custodian for the Depository wishes at any time to exchange its interest in such Temporary Regulation
S Book-Entry Certificate or Regulation S Book-Entry Certificate for an interest in the Rule 144A Book-Entry Certificate of the
same Class, or to transfer its interest in such Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate
to a Person who is required to take delivery thereof in the form of an interest in the Rule 144A Book-Entry Certificate, such holder
may, subject to the rules and procedures of Euroclear or Clearstream, as the case may be, and the Depository, exchange or cause
the exchange of such interest for an equivalent beneficial interest in the Rule 144A Book-Entry Certificate of the same Class.
Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.07 hereof, of (1) instructions
from Euroclear or Clearstream, if applicable, and the Depository, directing the Certificate Registrar, as registrar, to credit
or cause to be credited a beneficial interest in the Rule 144A Book-Entry Certificate equal to the beneficial interest in the Temporary
Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to be exchanged, such instructions to contain information
regarding the participant account with the Depository to be credited with such increase, (2) with respect to a transfer of an interest
in the Regulation S Book-Entry Certificate, information regarding the participant account of the Depository to be debited with
such decrease and (3) with respect to a transfer of an interest in the Temporary Regulation S Book-Entry Certificate for an interest
in the Rule 144A Book-Entry Certificate (i) during the Restricted Period, a certificate in the form of Exhibit K hereto
given by the holder of such beneficial interest and stating that the Person transferring such interest in the Temporary Regulation
S Book-Entry Certificate reasonably believes that the Person acquiring such interest in the Rule 144A Book-Entry Certificate is
a Qualified Institutional Buyer or (ii) after the Restricted Period, an Investment Representation Letter in the form of Exhibit
C attached hereto from the transferee to the effect that such transferee is a Qualified Institutional Buyer (an “Investment
Representation Letter”) and is obtaining such beneficial interest in a transaction meeting the requirements of Rule 144A,
then the Certificate Registrar shall instruct the Depository to reduce, or cause to be reduced, the Certificate Balance of the
Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate and to increase, or cause to be increased,
the Certificate Balance of the Rule 144A Book-Entry Certificate by the aggregate Certificate Balance of the beneficial interest
in the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate to be exchanged, and the Certificate
Registrar shall instruct the Depository, concurrently with such reduction, to credit, or cause to be credited, to the account of
the Person specified in such instructions, a beneficial interest in the Rule 144A Book-Entry Certificate equal to the reduction
in the Certificate Balance of the Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate and to debit,
or cause to be debited, from the account of the Person

 

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making such transfer the beneficial interest in the Temporary Regulation
S Book-Entry Certificate or Regulation S Book-Entry Certificate that is being transferred.

 

(f)       Temporary
Regulation S Book-Entry Certificate to Regulation S Book-Entry Certificate. Interests in a Temporary Regulation S Book-Entry
Certificate as to which the Certificate Registrar has received from Euroclear or Clearstream, as the case may be, a certificate
(a “Non-U.S. Beneficial Ownership Certification”) to the effect that Euroclear or Clearstream, as applicable,
has received a certificate substantially in the form of Exhibit L hereto from the holder of a beneficial interest in such
Temporary Regulation S Book-Entry Certificate, shall be exchanged after the Restricted Period, for interests in the Regulation
S Book-Entry Certificate of the same Class. The Certificate Registrar shall effect such exchange by delivering to the Depository
for credit to the respective accounts of such holders, a duly executed and authenticated Regulation S Book-Entry Certificate, representing
the aggregate Certificate Balance of interests in the Temporary Regulation S Book-Entry Certificate initially exchanged for interests
in the Regulation S Book-Entry Certificate. The delivery to the Certificate Registrar by Euroclear or Clearstream of the certificate
or certificates referred to above may be relied upon by the Depositor and the Certificate Registrar as conclusive evidence that
the certificate or certificates referred to therein has or have been delivered to Euroclear or Clearstream pursuant to the terms
of this Agreement and the Temporary Regulation S Book-Entry Certificate. Upon any exchange of interests in the Temporary Regulation
S Book-Entry Certificate for interests in the Regulation S Book-Entry Certificate, the Certificate Registrar shall endorse the
Temporary Regulation S Book-Entry Certificate to reflect the reduction in the Certificate Balance represented thereby by the amount
so exchanged and shall endorse the Regulation S Book-Entry Certificate to reflect the corresponding increase in the amount represented
thereby. Until so exchanged in full and except as provided therein, the Temporary Regulation S Book-Entry Certificate, and the
Certificates evidenced thereby, shall in all respects be entitled to the same benefits under this Agreement as the Regulation S
Book-Entry Certificate and Rule 144A Book-Entry Certificate authenticated and delivered hereunder.

 

(g)       Non-Book
Entry Certificate to Book-Entry Certificate. If a holder of a Non-Book Entry Certificate (other than a Class R Certificate)
wishes at any time to exchange its interest in such Non-Book Entry Certificate for an interest in a Book-Entry Certificate of the
same Class, or to transfer all or part of such Non-Book Entry Certificate to a Person who is entitled to take delivery thereof
in the form of an interest in a Book-Entry Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream,
if applicable, and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial
interest in the appropriate Book-Entry Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar,
at its office designated in Section 5.07 hereof, of (1) such Non-Book Entry Certificate, duly endorsed as provided herein,
(2) instructions from such holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a beneficial
interest in the applicable Book-Entry Certificate equal to the portion of the Certificate Balance of the Non-Book Entry Certificate
to be exchanged, such instructions to contain information regarding the participant account with the Depository to be credited
with such increase and (3) a certificate in the form of Exhibit M hereto (in the event that the applicable Book-Entry Certificate
is the Temporary Regulation S Book-Entry Certificate), in the form of Exhibit N hereto (in the event that the applicable
Book-Entry Certificate is the Regulation S Book-Entry Certificate) or in the form of Exhibit O hereto (in the event that
the applicable 

 

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Book-Entry Certificate
is the Rule 144A Book-Entry Certificate), then the Certificate Registrar, as registrar, shall cancel, or cause to be canceled,
all or part of such Non-Book Entry Certificate, shall, if applicable, execute, authenticate and deliver to the transferor a new
Non-Book Entry Certificate equal to the aggregate Certificate Balance of the portion retained by such transferor and shall instruct
the Depository to increase, or cause to be increased, such Book-Entry Certificate by the aggregate Certificate Balance of the
portion of the Non-Book Entry Certificate to be exchanged and to credit, or cause to be credited, to the account of the Person
specified in such instructions a beneficial interest in the applicable Book-Entry Certificate equal to the Certificate Balance
of the portion of the Non-Book Entry Certificate so canceled. Upon the written direction of the Depositor (which may be by email
to cts.cmbs.bond.admin@wellsfargo.com) or its Affiliate, the Certificate Registrar shall execute any instrument as may be reasonably
required by the Depository to effect such exchange.

 

(h)       Non-Book
Entry Certificates on Initial Issuance Only. Subject to the issuance of Definitive Certificates, if and when permitted by Section
5.02(d), no Non-Book Entry Certificate shall be issued to a transferee of an interest in any Rule 144A Book-Entry Certificate,
Temporary Regulation S Book-Entry Certificate or Regulation S Book-Entry Certificate or to a transferee of a Non-Book Entry Certificate
(or any portion thereof).

 

(i)       Other
Exchanges. In the event that a Book-Entry Certificate is exchanged for a Definitive Certificate, such Certificates may be exchanged
only in accordance with such procedures as are substantially consistent with the provisions of subsections (c) through (f)
above (including the certification requirements intended to ensure that such transfers comply with Rule 144A or Regulation S under
the Act, at the case may be) and such other procedures as may from time to time be adopted by the Certificate Registrar.

 

(j)       Restricted
Period. Prior to the termination of the Restricted Period with respect to the issuance of the Certificates, transfers of interests
in the Temporary Regulation S Book-Entry Certificate to U.S. persons (as defined in Regulation S) shall be limited to transfers
made pursuant to the provisions of subsection (e) above.

 

(k)       If
Non-Registered Certificates are issued upon the transfer, exchange or replacement of Certificates bearing a restrictive legend
relating to compliance with the Act, or if a request is made to remove such legend on Certificates, the Non-Registered Certificates
so issued shall bear the restrictive legend, or such legend shall not be removed, as the case may be, unless there is delivered
to the Certificate Registrar such satisfactory evidence, which may include an Opinion of Counsel that neither such legend nor the
restrictions on transfer set forth therein are required to ensure that transfers thereof comply with the provisions of Rule 144A
or Regulation S under the Act. Upon provision of such satisfactory evidence, the Certificate Registrar shall authenticate and deliver
Certificates that do not bear such legend.

 

(l)       All
Certificates surrendered for registration of transfer and exchange shall be canceled and subsequently destroyed by the Certificate
Registrar in accordance with the Certificate Registrar’s customary procedures.

 

(m)       With
respect to the ERISA Restricted Certificates, no sale, transfer, pledge or other disposition (other than any initial transfer to
the Initial Purchasers or the Loan-Specific

 

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Initial Purchaser) of any such Certificate shall be made unless the Trustee and Certificate
Administrator shall have received either (i) a representation letter from the proposed purchaser or transferee of such Certificate
substantially in the form of Exhibit F-1 attached hereto, to the effect that such proposed purchaser or transferee is not
(A) an employee benefit plan subject to the fiduciary responsibility provisions of ERISA or a plan subject to Section 4975 of the
Code, or a governmental plan (as defined in Section 3(32) of ERISA), a church plan (as defined in Section 3(33) of ERISA) for which
no election has been made under Section 410(d) of the Code or any other plan subject to any federal, state or local law (“Similar
Law”) which is, to a material extent, similar to the foregoing provisions of ERISA or the Code (each, a “Plan”)
or (B) a person acting on behalf of or using the assets of any such Plan (within the meaning of Department of Labor Regulation
§ 2510.3-101, as modified by Section 3(42) of ERISA), other than an insurance company using the assets of its general account
under circumstances whereby the purchase and holding of such Certificates by such insurance company would be exempt from the prohibited
transaction provisions of ERISA and the Code under Sections I and III of Prohibited Transaction Class Exemption 95-60 (or, in the
case of a Plan subject to Similar Law, would not result in a non-exempt violation of Similar Law) or (ii) if such Certificate which
may be held only by a person not described in clauses (A) or (B) above, is presented for registration in the name
of a purchaser or transferee that is any of the foregoing, an Opinion of Counsel in form and substance satisfactory to the Trustee,
the Certificate Administrator and the Depositor to the effect that the acquisition and holding of such Certificate by such purchaser
or transferee will not constitute or result in a non-exempt “prohibited transaction” within the meaning of ERISA, Section
4975 of the Code or a non-exempt violation of any Similar Law, and will not subject the Trustee, the Certificate Administrator,
the Master Servicer, the Special Servicers, the Initial Purchasers, the Loan-Specific Initial Purchaser, the Underwriters, the
Operating Advisor or the Depositor to any obligation or liability (including obligations or liabilities under ERISA, Section 4975
of the Code or any such Similar Law) in addition to those set forth in the Agreement. The Trustee and Certificate Administrator
shall not register the sale, transfer, pledge or other disposition of any ERISA Restricted Certificate unless the Trustee and Certificate
Administrator have received either the representation letter described in clause (i) above or the Opinion of Counsel described
in clause (ii) above. The costs of any of the foregoing representation letters or Opinions of Counsel shall not be borne
by any of the Depositor, the Master Servicer, any Special Servicer, the Trustee, the Certificate Administrator, the Initial Purchasers,
the Loan-Specific Initial Purchaser, the Underwriters, the Operating Advisor or the Trust. Each Certificate Owner of an ERISA Restricted
Certificate shall be deemed to represent that it is not a Person specified in clauses (i)(A) or (i)(B) above. Any
transfer, sale, pledge or other disposition of any ERISA Restricted Certificates that would constitute or result in a prohibited
transaction under ERISA, Section 4975 of the Code or any Similar Law, or would otherwise violate the provisions of this Section
5.03(m) shall be deemed absolutely null and void ab initio, to the extent permitted under applicable law.

 

(n)       No
Class R or Class S Certificate may be purchased by or transferred to any prospective purchaser or transferee that is or will be
a Plan, or any person acting on behalf of a Plan or using the assets of a Plan (within the meaning of Department of Labor Regulation
§ 2510.3-101, as modified by Section 3(42) of ERISA) to purchase such Class R or Class S Certificate. Each prospective transferee
of a Class R or Class S Certificate shall deliver to the transferor and the Certificate Administrator a representation letter,
substantially in the form of Exhibit F-2, stating that the prospective transferee is not a Plan or a person acting on behalf
of or

 

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using the assets of a Plan. Any attempted or purported transfer in violation of these transfer restrictions shall be null
and void ab initio and shall vest no rights in any purported transferee and shall not relieve the transferor of any obligations
with respect to the applicable Certificates.

 

Each Person who has or
acquires any Residual Ownership Interest shall be deemed by the acceptance or acquisition of such Residual Ownership Interest to
have agreed to be bound by the following provisions and the rights of each Person acquiring any Residual Ownership Interest are
expressly subject to the following provisions:

 

(i)       Each
Person acquiring or holding any Residual Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such
Residual Ownership Interest as agent (including a broker, nominee or other middleman) on behalf of any Person that is not a Permitted
Transferee. Any such Person shall promptly notify the Certificate Registrar of any change or impending change in its status (or
the status of the beneficial owner of such Residual Ownership Interest) as a Permitted Transferee. Any acquisition described in
the first sentence of this Section 5.03(n) by a Person who is not a Permitted Transferee or by a Person who is acting as
an agent of a Person who is not a Permitted Transferee shall be void ab initio and of no effect, and the immediately preceding
owner who was a Permitted Transferee shall be restored to registered and beneficial ownership of the Residual Ownership Interest
as soon and as fully as possible.

 

(ii)       No
Residual Ownership Interest may be Transferred, and no such Transfer shall be registered in the Certificate Register, without the
express written consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the Transfer, and such
proposed Transfer shall not be effective, without such consent with respect thereto. In connection with any proposed Transfer of
any Residual Ownership Interest, the Certificate Registrar shall, as a condition to such consent, (x) require the proposed transferee
to deliver, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor, an affidavit
in substantially the form attached as Exhibit D-1 (a “Transferee Affidavit”) of the proposed transferee
(A) that such proposed transferee is a Permitted Transferee and (B) stating that (1) the proposed transferee historically has paid
its debts as they have come due and intends to do so in the future, (2) the proposed transferee understands that, as the holder
of a Residual Ownership Interest, it may incur liabilities in excess of cash flows generated by the residual interest, (3) the
proposed transferee intends to pay taxes associated with holding the Residual Ownership Interest as they become due, (4) the proposed
transferee will not cause income with respect to the Residual Ownership Interest to be attributable to a foreign permanent establishment
or fixed base, within the meaning of an applicable income tax treaty, of such proposed transferee or any other U.S. Tax Person,
(5) the proposed transferee will not transfer the Residual Ownership Interest to any Person that does not provide a Transferee
Affidavit or as to which the proposed transferee has actual knowledge that such Person is not a Permitted Transferee or is acting
as an agent (including a broker, nominee or other middleman) for a Person that is not a Permitted Transferee, and (6) the proposed
transferee expressly agrees to be bound by and to abide by the provisions of this Section 5.03(n) and (y) other than in
connection with the initial issuance of a Class R Certificate, require a statement from the proposed transferor substantially in
the form attached as Exhibit D-2 (the “Transferor Letter”), that the proposed transferor has no

 

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actual
knowledge that the proposed transferee is not a Permitted Transferee and has no actual knowledge or reason to know that the proposed
transferee’s statements therein are false.

 

(iii)       Notwithstanding
the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible Officer of the
Certificate Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no Transfer to such proposed
transferee shall be effected and such proposed Transfer shall not be registered on the Certificate Register; provided, however,
the Certificate Registrar shall not be required to conduct any independent investigation to determine whether a proposed transferee
is a Permitted Transferee. Upon notice to the Certificate Registrar that there has occurred a Transfer to any Person that is a
Disqualified Organization or an agent thereof (including a broker, nominee or middleman) in contravention of the foregoing restrictions,
and in any event not later than sixty (60) days after a request for information from the transferor of such Residual Ownership
Interest or such agent, the Certificate Registrar agrees to furnish to the Internal Revenue Service and the transferor of such
Residual Ownership Interest or such agent such information necessary to the application of Section 860E(e) of the Code as may be
required by the Code, including, but not limited to, the present value of the total anticipated excess inclusions with respect
to such Class R Certificate (or portion thereof) for periods after such Transfer. At the election of the Certificate Registrar,
the Certificate Registrar may charge a reasonable fee for computing and furnishing such information to the transferor or to such
agent referred to above; provided, however, that such Persons shall in no event be excused from furnishing such information.

 

(o)       The
Class R Certificates may only be transferred to and owned by Qualified Institutional Buyers.

 

(p)       Notwithstanding
any other provision of this Agreement, the Certificate Administrator shall comply with all federal withholding requirements respecting
payments to Certificateholders and other payees of interest or original issue discount that the Certificate Administrator reasonably
believes are applicable under the Code. The consent of Certificateholders or payees shall not be required for such withholding,
and the Certificateholders shall be required to provide the Certificate Administrator with such forms and such other information
reasonably required by the Certificate Administrator. If the Certificate Administrator does withhold any amount from interest or
original issue discount payments or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements,
the Certificate Administrator shall indicate the amount withheld to such Person. Such amounts shall be deemed to have been distributed
to such Persons for all purposes of this Agreement.

 

Section
5.04     Mutilated, Destroyed, Lost or Stolen Certificates. If (a) any mutilated Certificate
is surrendered to the Certificate Registrar, or the Certificate Registrar receives evidence to its satisfaction of the
destruction, loss or theft of any Certificate and (b) there is delivered to the Certificate Registrar such security or
indemnity as may be required by it to save it harmless, then, in the absence of actual notice to the Certificate Registrar
that such Certificate has been acquired by a bona fide purchaser, the Certificate Registrar shall execute, authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or

 

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stolen Certificate, a new Certificate of like
tenor and interest in the Trust. In connection with the issuance of any new Certificate under this Section 5.04, the
Certificate Registrar may require the payment of a sum sufficient to cover any expenses (including the fees and expenses of
the Certificate Registrar) connected therewith. Any replacement Certificate issued pursuant to this Section 5.04 shall
constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time.

 

Section
5.05     Persons Deemed Owners. The Master Servicer, the Special Servicers, the Certificate
Administrator, the Trustee and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions as provided in this
Agreement and for all other purposes whatsoever, and neither the Master Servicer, the Special Servicers, the Certificate
Administrator, the Trustee, the Certificate Registrar, nor any agent of any of them shall be affected by any notice to the
contrary; provided, however, that to the extent that a party to this Agreement responsible for distributing any
report, statement or other information required to be distributed to Certificateholders has been provided an Investor
Certification, such party to this Agreement shall distribute such report, statement or other information to such beneficial
owner (or prospective transferee).

 

Section
5.06     Access to List of Certificateholders’ Names and Addresses; Special Notices.
(a) The Certificate Registrar shall maintain in as current form as is reasonably practicable the most recent list available
to it of the names and addresses of the Certificateholders. If any Certificateholder that has provided an Investor
Certification (i) requests in writing from the Certificate Registrar a list of the names and addresses of Certificateholders,
(ii) states that such Certificateholder desires to communicate with other Certificateholders with respect to its rights under
this Agreement or under the Certificates and (iii) provides a copy of the communication which Certificateholder proposes to
transmit, then the Certificate Registrar shall, within ten (10) Business Days after the receipt of such request, afford such
Certificateholder (at such Certificateholder’s sole cost and expense) access during normal business hours to a current
list of the Certificateholders related to the Class of Certificates held by such Certificateholder. Every Certificateholder,
by receiving and holding a Certificate, agrees that the Certificate Registrar shall not be held accountable by reason of the
disclosure of any such information as to the list of the Certificateholders hereunder, regardless of the source from which
information was derived. The Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator,
the Operating Advisor and the Depositor shall be entitled to a list of the names and addresses of Certificateholders from
time to time upon request therefor.

 

(b)       (i)
The Certificate Administrator shall include in any Form 10-D any written request received in accordance with Section 11.04(a)
prior to the Distribution Date to which the Form 10-D relates (and on or after the Distribution Date preceding such Distribution
Date) from a Certificateholder or Certificate Owner to communicate with other Certificateholders or Certificate Owners related
to Certificateholders or Certificate Owners exercising their rights under the terms of this Agreement. Any Form 10-D containing
such disclosure (a “Special Notice”) regarding the request to communicate shall include the following and no
more than the following (a) the name of the Certificateholder or Certificate Owner making the request, (b) the date the request
was received, (c) a statement to the effect that the

 

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Certificate Administrator has received such request, stating that such Certificateholder
or Certificate Owner is interested in communicating with other Certificateholders or Certificate Owners with regard to the possible
exercise of rights under this Agreement, and (d) a description of the method other Certificateholders or Certificate Owners may
use to contact the requesting Certificateholder or Certificate Owner.

 

(ii)       In
verifying the identity of any Certificateholder or Certificate Owner in connection with any request to communicate, (i) if the
Certificateholder or Certificate Owner is the holder of record with respect to any Certificate, the Certificate Administrator shall
not require any further verification or (ii) if the Certificateholder or Certificate Owner is not the holder of record with respect
to any Certificate, the Certificate Administrator shall require no more than (x) a written certification from such Certificateholder
or Certificate Owner that it is the beneficial owner of a Certificate and (y) another document confirming ownership of such Certificate
(e.g., trade confirmation, account statement, or a letter from a broker-dealer). The Certificate Administrator shall not
have any obligation to verify the information provided by any Certificateholder or Certificate Owner in any request to communicate
and may rely on such information conclusively. Additionally, any expenses the Certificate Administrator incurs in connection with
any request to communicate shall be paid by the Trust.

 

Section
5.07     Maintenance of Office or Agency. The Certificate Registrar shall maintain or cause
to be maintained an office or offices or agency or agencies where Certificates may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Certificate Registrar in respect of the Certificates and
this Agreement may be served. The Certificate Registrar initially designates its office at Sixth Street and Marquette Avenue,
Minneapolis, Minnesota 55479-0113 as its office for such purposes. The Certificate Registrar shall give prompt written notice
to the Certificateholders and the Mortgagors of any change in the location of the Certificate Register or any such office or
agency.

 

Section
5.08     Appointment of Certificate Administrator. (a) Wells Fargo Bank, National
Association, is hereby initially appointed Certificate Administrator in accordance with the terms of this Agreement. If the
Certificate Administrator resigns or is terminated, the Trustee shall appoint a successor certificate administrator which may
be the Trustee or an Affiliate thereof to fulfill the obligations of the Certificate Administrator hereunder which must
satisfy the eligibility requirements set forth in Section 8.06.

 

(b)       The
Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon any resolution, Officer’s
Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent,
order, Appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed or presented
by the proper party or parties.

 

(c)       The
Certificate Administrator, at the expense of the Trust (but only if such amount constitutes “unanticipated expenses of the
REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii)), may consult with counsel and the advice of
such counsel or any Opinion of Counsel shall be full and complete authorization and protection in

 

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respect of any action taken or
suffered or omitted by it hereunder in good faith and in accordance therewith.

 

(d)       The
Certificate Administrator shall not be personally liable for any action reasonably taken, suffered or omitted by it in good faith
and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement.

 

(e)       The
Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or
by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys shall not
relieve the Certificate Administrator of its duties or obligations hereunder.

 

(f)       The
Certificate Administrator shall not be responsible for any act or omission of the Trustee, the Master Servicer, the applicable
Special Servicer or the Depositor.

 

Section 5.09     Exchangeable
Certificates. (a) Groups of Class A-S, Class B and Class C Certificates may be exchanged for Class PEZ certificates and
vice versa, in whole or in part in accordance with the terms of this Section 5.09 and the other applicable provisions of
Article V hereof.

 

An Exchangeable Proportion
will be exchangeable on the books of DTC for Class PEZ certificates that represent the same Tranche Percentage Interest in each
Class PEZ Components as the certificates to be surrendered, and any Class PEZ Certificates will be exchangeable on the books of
DTC for Class A-S, Class B and Class C Certificates that evidence the same Tranche Percentage Interest in each Class PEZ Components
as the Class PEZ certificates to be surrendered. There is no limit on the number of exchanges authorized under this Section
5.09; provided, exchanges will no longer be permitted following the date when the then-current principal balance of
the Class A-S Regular Interest (and, correspondingly, to the extent evidencing an interest in the Class A-S Regular Interest, the
Class A-S Certificates and the applicable component of the Class PEZ certificates) is reduced to zero as a result of the payment
in full of all interest and principal on that Class PEZ Components. In all cases, however, an exchange may not occur if the face
amount of the certificates to be received in the exchange would not represent an authorized denomination for the relevant class
as described under Section 5.01. In addition, the Depositor will have the right to make or cause exchanges on the Closing
Date pursuant to instructions delivered to the Certificate Administrator on the Closing Date.

 

The various amounts distributable
on the Class PEZ Certificates on each Distribution Date in respect of Interest Accrual Amounts, Interest Distribution Amounts,
Principal Distribution Amounts, reimbursements of Realized Losses and yield maintenance charges allocated to any of the respective
Tranche Percentage Interests in the Class PEZ Components represented by the Class PEZ Certificates will be so distributed in a
single, aggregate distribution to the holders of the Class PEZ Certificates on such Distribution Date. Any Realized Losses or other
shortfalls, including as a result of Appraisal Reduction Events, allocated to the Tranche Percentage Interests in the Class PEZ
Components represented by the Class PEZ Certificates will be borne by such Class PEZ Certificates and any recoveries of such amounts
shall be paid to such Class PEZ Certificates.

 

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(b)       Class
A-S, Class B and Class C Certificates shall be exchangeable on the books of the Depository for Class PEZ Certificates, and Class
PEZ Certificates shall be exchangeable on the books of the Depository for Class A-S, Class B and Class C Certificates, after the
Closing Date (other than any exchanges on the Closing Date pursuant to instructions from the Depositor). In order to effect an
exchange of the Exchangeable Certificates, the Certificateholder shall notify the Certificate Administrator by e-mail at cts.cmbs.bond.admin@wellsfargo.com
no later than three (3) Business Days before the proposed date for the exchange and conversion (the “Exchange Date”).
The Exchange Date can be any Business Day other than the first or last Business Day of the month, subject to the satisfaction of
the Certificate Administrator.

 

(c)       With
respect to the notice required in clause (b) above, the Certificateholder shall provide notice on the Certificateholder’s
letterhead, which notice must carry a medallion stamp guarantee and set forth the following information: (i) the CUSIP Number(s)
of the Exchangeable Certificates to be exchanged and converted and the Exchangeable Certificate to be received, (ii) the outstanding
principal balance of the initial Certificate Balance of the Exchangeable Certificates to be exchanged and converted, (iii) the
Certificateholder’s Depository participant number, if applicable, and (iv) the proposed Exchange Date. The Certificateholder
will utilize the “deposit and withdrawal system” at the Depository to affect the exchange and conversion of the Certificates.
A notice becomes irrevocable on the second (2nd) Business Day before the proposed exchange date.

 

(d)       In
connection with each exchange, the Certificateholder may be required to pay certain fees charged by DTC and such fees must be received
by the Certificate Administrator prior to the exchange date or such exchange shall not be effected. For the avoidance of doubt,
no fee or service charge shall be required with respect to any exchange of Exchangeable Certificates other than such administrative
fees charged by the Depository. The first distribution on an Exchangeable Certificate shall be made in the month following the
month of exchange to the Certificateholder of record as of the applicable Record Date for such certificate. Neither the Certificate
Administrator nor the Depositor shall have any obligation to ensure the availability of the applicable certificates to accomplish
any exchange.

 

Section 5.10     Voting
Procedures. With respect to any matters submitted to Certificateholders for a vote, the Certificate Administrator shall
administer such vote through the Depository with respect to Book-Entry Certificates and directly with registered Holders by mail
with respect to Definitive Certificates. In each case, such vote shall be administered in accordance with the following procedures,
unless different procedures are otherwise described herein with respect to a specific vote:

 

(a)       Any
matter submitted to Certificateholders for a vote shall be announced in a notice prepared by the Certificate Administrator. Such
notice shall include the record date determined by the Certificate Administrator for purposes of the vote and a voting deadline
which shall be no less than thirty (30) days and no later than sixty (60) days after the date such notice is distributed. The notice
and related ballot shall be sent to Holders of Book-Entry Certificates through the Depository and by mail to the registered Holders
of Definitive Certificates. In addition, the notice and related ballot shall be posted to the Certificate Administrator’s
Website.

 

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Notices delivered in this manner shall be considered delivered to all Holders regardless of whether any Holder actually
receives the notice and ballot.

 

(b)       In
connection with any vote administered pursuant to this Agreement, voting Holders shall be required to certify their holdings in
the manner set forth on the ballot, unless a specific manner is otherwise provided herein. Holders may only vote in accordance
with their Voting Rights. Voting Rights with respect to any outstanding Class of Certificates shall be calculated by the Certificate
Administrator in accordance with the definition of Voting Rights as of the record date for the vote. Only Classes with an outstanding
Certificate Balance greater than zero as of the record date of the vote shall be permitted to vote. Once a Holder has cast its
vote, the vote may be changed or retracted on or before the vote deadline. Any changes or retractions shall be communicated by
the Certificateholder to the Certificate Administrator in writing on a ballot. After the vote deadline has passed, votes may not
be changed or retracted by any Holder unless the Holder wishing to change or retract its vote holds a sufficient portion of the
Voting Rights such that the Holder, by its vote alone, could approve or deny the proposition subject to a vote without taking into
consideration the votes cast by any other Holder. Transferees or purchasers of any Class of Certificates are subject to and shall
be bound by all votes of Holders initiated or conducted prior to its acquisition of such Certificate.

 

(c)       The
Certificate Administrator may take up to fifteen (15) Business Days to tabulate the results of any vote. The Certificate Administrator
shall use its reasonable efforts to resolve any illegible or incomplete ballots received prior to the voting deadline. Illegible
or incomplete ballots that are received on the voting deadline or that cannot be resolved by the voting deadline shall not be counted.
Promptly after the votes are tabulated, the Certificate Administrator shall prepare a notice announcing the results of the vote.
Such notice shall include the percentage of Voting Rights in favor of the proposition, the percentage against the proposition and
the percentage abstaining. In addition, the notice will announce whether the proposition has been adopted by Certificateholders.
The notice shall be distributed in accordance with the methods described in Section 5.10(a) above. The Certificate Administrator
shall also include such notice on the Form 10-D prepared in connection with the distribution period that corresponds with the date
such notice is distributed. All vote tabulations shall be final and the Certificate Administrator shall not, absent manifest error,
re-tabulate the votes or conduct a new vote for the same proposition.

 

(d)       Any
and all reasonable expenses incurred by the Certificate Administrator in connection with administering any vote shall be borne
by the Trust. The Certificate Administrator is under no obligation to advise Holders about the matter being voted on or answer
questions other than process-related questions regarding the administration of the vote.

 

(e)       If
any party to this Agreement believes a vote of Certificateholders is needed for some matter related to the administration of the
Trust that is not specifically contemplated herein, such party may request the Certificate Administrator to conduct a vote and
the Certificate Administrator will conduct the requested vote in accordance with these procedures. Unless specifically provided
herein, all such votes require a majority of Certificateholders to carry a proposition.

 

[End of Article V]

 

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Article
VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICERS, the Operating Advisor, THE ASSET REPRESENTATIONS
REVIEWER AND THE DIRECTING HOLDER

 

Section
6.01     Representations, Warranties and Covenants of the Master Servicer, Special Servicers, the
Operating Advisor and the Asset Representations Reviewer. (a) The Master Servicer hereby represents, warrants and
covenants to the Trustee, for its own benefit and the benefit of the Certificateholders, each Serviced Companion Noteholder,
the Depositor, the Certificate Administrator, each Special Servicer, the Asset Representations Reviewer and the Operating
Advisor, as of the Closing Date, that:

 

(i)       The
Master Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America, and the Master Servicer is in compliance with the laws of each State in which any Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)      The
execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of this Agreement
by the Master Servicer, do not (A) violate the Master Servicer’s organizational documents, (B) constitute a default (or an
event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material
agreement or other material instrument to which it is a party or which is applicable to it or any of its assets or (C) violate
any law, rule, regulation, order, judgment or decree to which the Master Servicer or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Master Servicer to perform its obligations
under this Agreement or its financial condition;

 

(iii)     The
Master Servicer has the full power and authority to enter into and consummate all transactions to be performed by it contemplated
by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered
this Agreement;

 

(iv)     This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Master Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject to (A)
applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in
equity or at law;

 

(v)      The
Master Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with
the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order
regulation or demand of any federal, state or local governmental or regulatory

 

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authority, which violation, in the Master Servicer’s
good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Master Servicer to perform
its obligations under this Agreement or the financial condition of the Master Servicer;

 

(vi)     No
litigation is pending or, to the best of the Master Servicer’s knowledge, threatened against the Master Servicer which would
prohibit the Master Servicer from entering into this Agreement or, in the Master Servicer’s good faith and reasonable judgment,
is likely to materially and adversely affect the ability of the Master Servicer to perform its obligations under this Agreement;

 

(vii)    The
Master Servicer has errors and omissions insurance coverage that is in full force and effect or is self-insuring with respect to
such risks, which in either case complies with the requirements of Section 3.07 hereof; and

 

(viii)   No
consent, approval, authorization or order of, registration or filing with, or notice to, any governmental authority or court is
required under federal or state law for the execution, delivery and performance by the Master Servicer of, or compliance by the
Master Servicer with, this Agreement or the Master Servicer’s consummation of any transactions contemplated hereby, other
than (A) such consents, approvals, authorizations, orders, qualifications, registrations, filings or notices as have been obtained,
made or given prior to the actual performance by the Master Servicer of its obligations under this Agreement or (B) where the lack
of such consent, approval, authorization, order, qualification, registration, filing or notice would not have a material adverse
effect on the performance by the Master Servicer under this Agreement.

 

(b)      Each
of the Special Servicers, for itself only, hereby represents, warrants and covenants to the Trustee, for its own benefit and the
benefit of the Certificateholders, each Serviced Companion Noteholder, the Depositor, the Certificate Administrator, the Master
Servicer, the Asset Representations Reviewer and the Operating Advisor, as of the Closing Date, that:

 

(i)       The
Special Servicer is a (A) in the case of the General Special Servicer, a national banking association, duly organized, validly
existing and in good standing under the laws of the United States, (B) in the case of the AMA Plaza Special Servicer, a national
banking association duly organized, validly existing and in good standing under the laws of the United States and (C) in the case
of the 225 Bush Street Special Servicer, a limited liability company duly organized, validly existing and in good standing under
the laws of the State of Iowa and in each case, the applicable Special Servicer is in compliance with the laws of each State in
which any Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)      The
execution and delivery of this Agreement by the applicable Special Servicer and the performance and compliance with the terms of
this Agreement by the applicable Special Servicer do not (A) violate the applicable special servicer’s organizational documents,
(B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result
in the breach of, any

 

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material agreement or other material instrument to which it is a party or which is applicable to it or any
of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which the applicable Special Servicer or
its property is subject, which, in the case of either (B) or (C), is likely to materially and adversely affect either the ability
of the applicable Special Servicer to perform its obligations under this Agreement or its financial condition;

 

(iii)     The
applicable Special Servicer has the full power and authority to enter into and consummate all transactions to be performed by it
contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed
and delivered this Agreement;

 

(iv)     This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the applicable Special Servicer enforceable against the applicable Special Servicer in accordance with the terms
hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the
enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement
is considered in a proceeding in equity or at law;

 

(v)      The
applicable Special Servicer is not in violation of, and its execution and delivery of this Agreement and its performance and compliance
with the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order
regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the applicable special
servicer’s good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the applicable
Special Servicer to perform its obligations under this Agreement or the financial condition of the Special Servicer;

 

(vi)     No
litigation is pending or, to the best of the applicable special servicer’s knowledge, threatened against the applicable Special
Servicer which would prohibit the applicable Special Servicer from entering into this Agreement or, in the applicable special servicer’s
good faith and reasonable judgment, is likely to materially and adversely affect the ability of the applicable Special Servicer
to perform its obligations under this Agreement;

 

(vii)    The
applicable Special Servicer has errors and omissions coverage which is in full force and effect or is self-insuring with respect
to such risks, which in either case complies with the requirements of Section 3.07 hereof; and

 

(viii)   No
consent, approval, authorization or order of any court or governmental agency or body is required under federal or state law for
the execution, delivery and performance by the applicable Special Servicer of, or compliance by the applicable Special Servicer
with, this Agreement or the consummation of the transactions of the applicable Special Servicer contemplated by this Agreement,
except for any consent, approval, authorization or order which has been obtained or can be obtained prior to the actual performance
by the applicable Special Servicer of its obligations under this

 

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Agreement, or which, if not obtained would not have a materially
adverse effect on the ability of the applicable Special Servicer to perform its obligations hereunder.

 

(c)      The
Operating Advisor hereby represents, warrants and covenants to the Trustee, for its own benefit and the benefit of the Certificateholders,
each Serviced Companion Noteholder, the Depositor, the Certificate Administrator, the Master Servicer, each Special Servicer and
the Asset Representations Reviewer, as of the Closing Date, that:

 

(i)       The
Operating Advisor is a limited liability company, duly organized, validly existing and in good standing under the laws of the State
of New York, and the Operating Advisor is in compliance with the laws of each State in which any Mortgaged Property is located
to the extent necessary to perform its obligations under this Agreement;

 

(ii)      The
execution and delivery of this Agreement by the Operating Advisor, and the performance and compliance with the terms of this Agreement
by the Operating Advisor, do not (A) violate the Operating Advisor’s organizational documents, (B) constitute a default (or
an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material
agreement or other material instrument to which it is a party or which is applicable to it or any of its assets, or (C) violate
any law, rule, regulation, order, judgment or decree to which the Operating Advisor or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Operating Advisor to perform its obligations
under this Agreement or its financial condition;

 

(iii)     The
Operating Advisor has the full power and authority to enter into and consummate all transactions to be performed by it contemplated
by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered
this Agreement;

 

(iv)     This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Operating Advisor, enforceable against the Operating Advisor in accordance with the terms hereof, subject to
(A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and (B) general principles of equity, regardless of whether such enforcement is considered in a proceeding in
equity or at law;

 

(v)      The
Operating Advisor is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with
the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter, or any order
regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Operating Advisor’s
good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Operating Advisor to
perform its obligations under this Agreement or the financial condition of the Operating Advisor;

 

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(vi)     [Reserved];

 

(vii)    No
litigation is pending or, to the best of the Operating Advisor’s knowledge, threatened against the Operating Advisor, which
would prohibit the Operating Advisor from entering into this Agreement or, in the Operating Advisor’s good faith and reasonable
judgment, is likely to materially and adversely affect the ability of the Operating Advisor to perform its obligations under this
Agreement; and

 

(viii)   No
consent, approval, authorization or order of any court or governmental agency or body is required under federal or state law for
the execution, delivery and performance by the Operating Advisor of, or compliance by the Operating Advisor with, this Agreement
or the consummation of the transactions of the Operating Advisor contemplated by this Agreement, except for any consent, approval,
authorization or order which has been obtained or can be obtained prior to the actual performance by the Operating Advisor of its
obligations under this Agreement, or which, if not obtained would not have a materially adverse effect on the ability of the Operating
Advisor to perform its obligations hereunder.

 

(d)      The
Asset Representations Reviewer hereby represents and warrants to the Trustee, for its own benefit and the benefit of the Certificateholders,
and to the Depositor, the Master Servicer, each Special Servicer and the Certificate Administrator, as of the Closing Date, that:

 

(i)       The
Asset Representations Reviewer is a limited liability company, duly organized, validly existing and in good standing under the
laws of the State of New York, and the Asset Representations Reviewer is in compliance with the laws of each State in which any
Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)      The
execution and delivery of this Agreement by the Asset Representations Reviewer, and the performance and compliance with the terms
of this Agreement by the Asset Representations Reviewer, do not (A) violate the Asset Representations Reviewer’s organizational
documents, (B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under,
or result in the breach of, any material agreement or other material instrument to which it is a party or which is applicable to
it or any of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which the Asset Representations
Reviewer or its property is subject, which, in the case of either (B) or (C), is likely to materially and adversely affect either
the ability of the Asset Representations Reviewer to perform its obligations under this Agreement or its financial condition;

 

(iii)     The
Asset Representations Reviewer has the full power and authority to enter into and consummate all transactions to be performed by
it contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly
executed and delivered this Agreement;

 

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(iv)     This
Agreement, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid, legal and binding
obligation of the Asset Representations Reviewer, enforceable against the Asset Representations Reviewer in accordance with the
terms hereof, subject to (A) applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting
the enforcement of creditors’ rights generally, and (B) general principles of equity, regardless of whether such enforcement
is considered in a proceeding in equity or at law;

 

(v)      The
Asset Representations Reviewer is not in violation of, and its execution and delivery of this Agreement and its performance and
compliance with the terms of this Agreement will not constitute a violation of, any law, order or decree of any court or arbiter,
or any order regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the
Asset Representations Reviewer’s good faith and reasonable judgment, is likely to materially and adversely affect either
the ability of the Asset Representations Reviewer to perform its obligations under this Agreement or the financial condition of
the Asset Representations Reviewer;

 

(vi)     No
litigation is pending or, to the best of the Asset Representations Reviewer’s knowledge, threatened against the Asset Representations
Reviewer, which would prohibit the Asset Representations Reviewer from entering into this Agreement or, in the Asset Representations
Reviewer’s good faith and reasonable judgment, is likely to materially and adversely affect the ability of the Asset Representations
Reviewer to perform its obligations under this Agreement; and

 

(vii)    [Reserved];

 

(viii)   No
consent, approval, authorization or order of any court or governmental agency or body is required under federal or state law for
the execution, delivery and performance by the Asset Representations Reviewer of, or compliance by the Asset Representations Reviewer
with, this Agreement or the consummation of the transactions of the Asset Representations Reviewer contemplated by this Agreement,
except for any consent, approval, authorization or order which has been obtained or can be obtained prior to the actual performance
by the Asset Representations Reviewer of its obligations under this Agreement, or which, if not obtained would not have a materially
adverse effect on the ability of the Asset Representations Reviewer to perform its obligations hereunder; and

 

(ix)      The
Asset Representations Reviewer is an Eligible Asset Representations Reviewer.

 

(e)       The
representations and warranties set forth in paragraphs (a)-(d) above shall survive the execution and delivery of this Agreement.
Upon discovery by any party to this Agreement (or upon written notice thereof from any Certificateholder or any Companion Holder)
of a breach of any of the representations and warranties set forth in this Section which materially and adversely affects the interests
of any party to this Agreement, the Certificateholders, the party discovering such breach shall give prompt written notice to the
other parties hereto, each

 

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certifying Certificateholder, and, prior to the occurrence and continuance of a Control Termination
Event, the Directing Holder.

 

Section
6.02     Liability of the Depositor, the Master Servicer, the Operating Advisor, the Special
Servicers and the Asset Representations Reviewer. The Depositor, the Master Servicer, the Operating Advisor, each Special
Servicer and the Asset Representations Reviewer shall be liable in accordance herewith only to the extent of the respective
obligations specifically imposed upon and undertaken by, and no implied duties or obligations may be asserted against, the
Depositor, the Master Servicer, the Operating Advisor, such Special Servicer and the Asset Representations Reviewer
herein.

 

Section
6.03     Merger, Consolidation or Conversion of the Depositor, the Master Servicer, the Operating
Advisor, the Special Servicers or the Asset Representations Reviewer. (a) Subject to subsection (b) below, the
Depositor, the Master Servicer and the Special Servicers each will keep in full effect its existence, rights and franchises
as an entity under the laws of the jurisdiction of its incorporation or organization, and each will obtain and preserve its
qualification to do business as a foreign entity in each jurisdiction in which qualification is or shall be necessary to
protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans or Companion Loans
and to perform its respective duties under this Agreement.

 

(b)       The
Depositor, the Master Servicer, the Special Servicers and the Operating Advisor each may be merged or consolidated with or into
any Person, or transfer all or substantially all of its assets (which may be limited to all or substantially all of its assets
related to commercial mortgage loan servicing or commercial mortgage surveillance, as the case may be) to any Person, in which
case any Person resulting from any merger or consolidation to which the Depositor, the Master Servicer, a Special Servicer or the
Operating Advisor shall be a party, or any Person succeeding to the business of the Depositor, the Master Servicer, a Special Servicer
or the Operating Advisor, shall be the successor of the Depositor, the Master Servicer, such Special Servicer or the Operating
Advisor (such Person, in the case of the Master Servicer or the applicable Special Servicer in each of the foregoing cases, the
“Surviving Entity”), as the case may be, hereunder, without the execution or filing of any paper (other than
an assumption agreement wherein the successor shall agree to perform the obligations of and serve as the Depositor, the Master
Servicer, a Special Servicer or the Operating Advisor, as the case may be, in accordance with the terms of this Agreement) or any
further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however,
that with respect to such merger, consolidation or succession, Rating Agency Confirmation is received from each Rating Agency with
respect to the Classes of Certificates and, with respect to any class of Serviced Companion Loan Securities, a confirmation is
received from each applicable rating agency that such action will not result in the downgrade, withdrawal or qualification of its
then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner as any
Rating Agency Confirmation may be considered satisfied with respect to the Certificates as described in Section 3.25); provided,
further, that if the Master Servicer, a Special Servicer or the Operating Advisor enters into a merger and the Master Servicer,
such Special Servicer or the Operating Advisor, as applicable, is the surviving entity under applicable law, the Master Servicer,
such Special Servicer or the Operating Advisor, as applicable, shall not, as a result of the merger, be required to provide a Rating
Agency Confirmation with respect

 

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to ratings of the Classes of Certificates or, with respect to any class of Serviced Companion
Loan Securities, a confirmation of the rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings; provided, further, that for so long as the Trust, and, with respect to any Companion
Loan included as part of the trust in a related Other Securitization, is subject to the reporting requirements of the Exchange
Act, if the Master Servicer, such Special Servicer or the Operating Advisor notifies the Depositor in writing (a “Merger
Notice”) of any such merger, consolidation, conversion or other change in form, and the Depositor or the depositor in
such Other Securitization, as the case may be, notifies the Master Servicer, such Special Servicer or the Operating Advisor, as
applicable, in writing that the Depositor or the depositor in such Other Securitization, as the case may be, has discovered that
such successor entity has not complied with its Exchange Act reporting obligations under any other commercial mortgage loan securitization
(and specifically identifying the instance of noncompliance), then it shall be an additional condition to such succession that
the Depositor or the depositor in such Other Securitization, as the case may be, shall have consented (which consent shall not
be unreasonably withheld or delayed) to such successor entity. Notwithstanding the foregoing, no Master Servicer, Special Servicer
or Operating Advisor may remain the Master Servicer, a Special Servicer or Operating Advisor, as applicable, under this Agreement
after (x) being merged or consolidated with or into any Person that is a Prohibited Party, or (y) transferring all or substantially
all of its assets to any Person if such Person is a Prohibited Party, except to the extent (i) the Master Servicer, such Special
Servicer or Operating Advisor, as applicable, is the surviving entity of such merger, consolidation or transfer and has been and
continues to be in compliance with its Regulation AB reporting obligations hereunder or (ii) the Depositor consents to such merger,
consolidation or transfer, which consent shall not be unreasonably withheld. If, within sixty (60) days following the date of delivery
of the Merger Notice to the Depositor or the depositor in such Other Securitization, as the case may be, the Depositor or depositor
in such Other Securitization, as the case may be, shall have failed to notify the Master Servicer or such Special Servicer, as
applicable, in writing of the Depositor’s determination, or depositor’s determination, in the case of an Other Securitization,
to grant or withhold such consent, such failure shall be deemed to constitute a grant of such consent. If the conditions to the
provisions in the second preceding sentence are not met, the Trustee may terminate, and if the conditions set forth in the third
proviso of the second preceding sentence are not met the Trustee shall terminate, the applicable Surviving Entity’s servicing
of the Mortgage Loans and the Trust Subordinate Companion Loans pursuant hereto, such termination to be effected in the manner
set forth in Section 13.01.

 

(i)       The
Asset Representations Reviewer shall keep in full effect its existence and rights as an entity under the laws of the jurisdiction
of its organization, and shall be in compliance with the laws of all jurisdictions to the extent necessary to perform its duties
under this Agreement.

 

(ii)       Any
Person into which the Asset Representations Reviewer may be merged or consolidated, or any Person resulting from any merger or
consolidation to which the Asset Representations Reviewer shall be a party, or any Person succeeding to the business of the Asset
Representations Reviewer, shall be the successor of the Asset Representations Reviewer hereunder, and shall be deemed to have assumed
all of the liabilities and obligations of such Asset Representations Reviewer hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties hereto,

 

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anything herein to the contrary notwithstanding; provided,
however, that the Trustee has received a Rating Agency Confirmation with respect to such successor or surviving Person.

 

Section
6.04     Limitation on Liability of the Depositor, the Master Servicer, the Special Servicers,
the Operating Advisor, the Asset Representations Reviewer and Others. (a) None of the Depositor, the Master Servicer
(including in its capacity as Companion Paying Agent), the Special Servicers, the Operating Advisor, the Asset
Representations Reviewer or any of the partners, directors, officers, shareholders, members, managers, employees or agents of
any of the foregoing shall be under any liability to the Trust, the Certificateholders or the Companion Holders for any
action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in
judgment; provided, however, that (i) this provision shall not protect the Depositor, the Master Servicer
(including in its capacity as Companion Paying Agent), any Special Servicer, the Operating Advisor, the Asset
Representations Reviewer or any such Person against any breach of warranties or representations made by it herein or any
liability which would otherwise be imposed by reason of willful misconduct, bad faith or negligence in the performance of
such party’s obligations or duties or by reason of negligent disregard of such party’s obligations and duties
hereunder. The Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicers,
the Operating Advisor, the Asset Representations Reviewer and any partner, director, officer, shareholder, member, manager,
employee or agent of the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), a Special
Servicer, the Operating Advisor or the Asset Representations Reviewer may rely on any document of any kind which, prima
facie, is properly executed and submitted by any Person respecting any matters arising hereunder. The Depositor, the
Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicers, the Asset Representations
Reviewer and the Operating Advisor and any partner, director, officer, shareholder, member, manager, employee or agent of any
of the foregoing shall be indemnified and held harmless by the Trust against any and all claims, losses, penalties, fines,
forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred
in connection with any legal or administrative action (whether in equity or at law) or claim relating to this Agreement, the
Mortgage Loans, the Companion Loans or the Certificates, other than any loss, liability or expense: (i) specifically required
to be borne thereby pursuant to the terms hereof; (ii) incurred in connection with any breach of a representation or warranty
made by it herein; (iii) incurred by reason of bad faith, willful misconduct or negligence in the performance of
its obligations or duties hereunder, or by reason of negligent disregard of such obligations or duties; or (iv) in the case
of the Depositor and any of its partners, directors, officers, shareholders, members, managers, employees and agents,
incurred in connection with any violation by any of them of any state or federal securities law. In addition, absent actual
fraud (as determined by a final non-appealable court order), neither the Trustee nor the Certificate Administrator (including
in its capacity as Custodian) shall be liable for special, punitive, indirect or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Trustee or the Certificate Administrator has been advised
of the likelihood of such loss or damage and regardless of the form of action. Each of the Master Servicer (including in its
capacity as Companion Paying Agent), the Special Servicers, the Asset Representations Reviewer and the Operating Advisor
conclusively may rely on, and shall be protected in acting or refraining from acting upon, any resolution, officer’s
certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report,

 

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notice, request,
consent, order, financial statement, agreement, appraisal, bond or other document (in electronic or paper format) as
contemplated by and in accordance with this Agreement and reasonably believed or in good faith believed by the Master
Servicer (including in its capacity as Companion Paying Agent), the applicable Special Servicer, the Asset Representations
Reviewer or the Operating Advisor to be genuine and to have been signed or presented by the proper party or parties and each
of them may consult with counsel, in which case any written advice of counsel or Opinion of Counsel shall be full and
complete authorization and protection with respect to any action taken or suffered or omitted by it hereunder in good faith
and in accordance with such advice or Opinion of Counsel.

 

(b)       None
of the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicers, the Operating
Advisor and the Asset Representations Reviewer shall be under any obligation to appear in, prosecute or defend any legal or administrative
action (whether in equity or at law), proceeding, hearing or examination that is not incidental to its respective duties under
this Agreement or which in its opinion may involve it in any expense or liability not recoverable from the Trust; provided,
however, that each of the Depositor, the Master Servicer, the Special Servicers, the Operating Advisor or the Asset Representations
Reviewer may in its discretion undertake any such action, proceeding, hearing or examination that it may deem necessary or desirable
in respect to this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders (and,
in the case of any Serviced Whole Loan, the rights of the Certificateholders and the holders of a Serviced Companion Loan (as a
collective whole) taking into account the subordinate or pari passu nature of such Serviced Companion Loan); provided,
however, that if a Serviced Whole Loan and/or the holder of any related Companion Loan are involved, such expenses, costs
and liabilities will be payable out of funds related to the applicable Serviced Whole Loan in accordance with the related Co-Lender
Agreement and will also be payable out of the other funds in the Collection Account if amounts on deposit with respect to such
Serviced Whole Loan are insufficient therefor. If any such expenses, costs or liabilities relate to a Mortgage Loan or Companion
Loan, then any subsequent recovery on that Mortgage Loan or Companion Loan, as applicable, will be used to reimburse the Trust
for any amounts advanced for the payment of such expenses, costs or liabilities. In such event, the legal expenses and costs of
such action, proceeding, hearing or examination and any liability resulting therefrom shall be expenses, costs and liabilities
of the Trust, and the Depositor, the Master Servicer (including in its capacity as Companion Paying Agent), the Special Servicers,
the Asset Representations Reviewer and the Operating Advisor shall be entitled to be reimbursed therefor out of amounts attributable
to the Mortgage Loans or the Companion Loan on deposit in the Collection Account (including, without duplication, any subaccount
thereof), as provided by Section 3.05(a)(xii).

 

(c)       Each
of the Master Servicer and the Special Servicers, as applicable, agrees to indemnify the Depositor, the Trustee, the related Serviced
Companion Noteholder, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Master Servicer
(including in its capacity as Companion Paying Agent) (in the case of the applicable Special Servicer), the applicable Special
Servicer (in the case of the Master Servicer) and the Trust and any partner, director, officer, shareholder, member, manager, employee
or agent thereof, and hold them harmless, from and against any and all claims, losses, penalties, fines, forfeitures, reasonable
legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses that any of them may sustain arising
from or as a result of any

 

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willful misconduct, bad faith or negligence of the Master Servicer or such Special Servicer, as the
case may be, in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by the Master
Servicer or such Special Servicer, as the case may be, of its duties and obligations hereunder or by reason of breach of any representations
or warranties made herein by the Master Servicer or such Special Servicer, as applicable. The Trustee, the Certificate Administrator,
the Depositor, the Asset Representations Reviewer or the Operating Advisor, as the case may be, shall immediately notify the Master
Servicer or the applicable Special Servicer as applicable, if a claim is made by a third party with respect to this Agreement or
the Mortgage Loans or the Trust Subordinate Companion Loans entitling the Trust to indemnification hereunder, whereupon the Master
Servicer or the applicable Special Servicer, as the case may be, shall assume the defense of such claim (with counsel reasonably
satisfactory to the Trustee, the Certificate Administrator or the Depositor) and pay all expenses in connection therewith, including
counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against it or them in respect
of such claim. Any failure to so notify the Master Servicer or the applicable Special Servicer, as the case may be, shall not affect
any rights any of the foregoing Persons may have to indemnification under this Agreement or otherwise, unless the Master Servicer’s
or the applicable special servicer’s, as the case may be, defense of such claim is materially prejudiced thereby.

 

(d)       Each
of the Trustee and the Certificate Administrator (including in its role as Custodian), respectively agrees to indemnify the Depositor,
the Master Servicer (including in its capacity as Companion Paying Agent), each Special Servicer, the Certificate Administrator
(in the case of the Trustee), the Trustee (in the case of the Certificate Administrator), the Operating Advisor, the Asset Representations
Reviewer and the Trust and any partner, director, officer, shareholder, member, manager employee or agent thereof, and hold them
harmless, from and against any and all claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments, and any other costs, liabilities, fees and expenses that any of them may sustain arising from or as a result of any
willful misconduct, bad faith or negligence of the Trustee or the Certificate Administrator, respectively, in the performance of
its obligations and duties under this Agreement or by reason of negligent disregard by the Trustee or the Certificate Administrator,
respectively, of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein;
provided that such indemnity shall not cover indirect or consequential damages. The Depositor, the Master Servicer, the
applicable Special Servicer, the Asset Representations Reviewer or the Operating Advisor, as the case may be, shall immediately
notify the Trustee and the Certificate Administrator, respectively, if a claim is made by a third party with respect to this Agreement
or the Mortgage Loans or the Trust Subordinate Companion Loans entitling the Trust to indemnification hereunder, whereupon the
Trustee or the Certificate Administrator shall assume the defense of such claim (with counsel reasonably satisfactory to the Depositor,
such Master Servicer (including in its capacity as Companion Paying Agent), such Special Servicer, the Asset Representations Reviewer
or the Operating Advisor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and
satisfy any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Trustee
or the Certificate Administrator shall not affect any rights any of the foregoing Persons may have to indemnification under this
Agreement or otherwise, unless the Trustee’s or the Certificate Administrator’s defense of such claim is materially
prejudiced thereby.

 

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(e)       The
Depositor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent), each Special Servicer,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trust and any partner,
director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless, from and against any and all
claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities,
fees and expenses that any of them may sustain arising from or as a result of any willful misconduct, bad faith or negligence of
the Depositor, in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by the
Depositor of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein; provided
that such indemnity shall not cover indirect or consequential damages. The Master Servicer, the applicable Special Servicer, the
Trustee, the Certificate Administrator, the Asset Representations Reviewer or the Operating Advisor, as the case may be, shall
immediately notify the Depositor if a claim is made by a third party with respect to this Agreement, whereupon the Depositor shall
assume the defense of such claim (with counsel reasonably satisfactory to the Master Servicer (including in its capacity as Companion
Paying Agent) or such Special Servicer) and pay all expenses in connection therewith, including counsel fees, and promptly pay,
discharge and satisfy any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so
notify the Depositor shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement
or otherwise, unless the Depositor’s defense of such claim is materially prejudiced thereby.

 

(f)       The
Operating Advisor agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent), each Special Servicer,
the Trustee, the Certificate Administrator, the Depositor, the Asset Representations Reviewer and the Trust and any partner, director,
officer, shareholder, member, manager, employee or agent thereof, and hold them harmless, from and against any and all claims,
losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees
and expenses that any of them may sustain arising from or as a result of any willful misconduct, bad faith or negligence of the
Operating Advisor, in the performance of its obligations and duties under this Agreement or by reason of negligent disregard by
the Operating Advisor of its duties and obligations hereunder or by reason of breach of any representations or warranties made
herein; provided that such indemnity shall not cover indirect or consequential damages. The Master Servicer, the applicable
Special Servicer, the Trustee, the Certificate Administrator, the Asset Representations Reviewer or the Depositor, as the case
may be, shall immediately notify the Operating Advisor if a claim is made by a third party with respect to this Agreement or the
Mortgage Loans or the Trust Subordinate Companion Loans entitling the Trust to indemnification hereunder, whereupon the Operating
Advisor shall assume the defense of such claim (with counsel reasonably satisfactory to the Master Servicer (including in its capacity
as Companion Paying Agent), such Special Servicer, the Trustee, the Certificate Administrator, the Asset Representations Reviewer
or the Depositor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy
any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Operating
Advisor shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement or otherwise,
unless the Operating Advisor’s defense of such claim is materially prejudiced thereby.

 

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(g)       Neither
the Operating Advisor nor its Affiliates or any of the partners, directors, officers, shareholders, members, managers, employees
or agents of the Operating Advisor shall be under any liability to any Certificateholder for any action taken or for refraining
from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however,
that this provision shall not protect the Operating Advisor against any liability which would otherwise be imposed by reason of
willful misconduct, bad faith or negligence in the performance of duties or by reason of negligent disregard of obligations and
duties hereunder.

 

(h)       The
Asset Representations Reviewer agrees to indemnify the Master Servicer (including in its capacity as Companion Paying Agent), each
Special Servicer, the Trustee, the Certificate Administrator, the Depositor, the Operating Advisor and the Trust and any partner,
director, officer, shareholder, member, manager, employee or agent thereof, and hold them harmless, from and against any and all
claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities,
fees and expenses that any of them may sustain arising from or as a result of any willful misconduct, bad faith or negligence of
the Asset Representations Reviewer, in the performance of its obligations and duties under this Agreement or by reason of negligent
disregard by the Asset Representations Reviewer of its duties and obligations hereunder or by reason of breach of any representations
or warranties made herein; provided that such indemnity shall not cover indirect or consequential damages. The Master Servicer,
the applicable Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor or the Depositor, as the case
may be, shall immediately notify the Asset Representations Reviewer if a claim is made by a third party with respect to this Agreement
or the Mortgage Loans or the Trust Subordinate Companion Loans entitling the Trust to indemnification hereunder, whereupon the
Asset Representations Reviewer shall assume the defense of such claim (with counsel reasonably satisfactory to the Master Servicer
(including in its capacity as Companion Paying Agent), such Special Servicer, the Trustee, the Certificate Administrator, the Operating
Advisor or the Depositor) and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and
satisfy any judgment or decree which may be entered against it or them in respect of such claim. Any failure to so notify the Asset
Representations Reviewer shall not affect any rights any of the foregoing Persons may have to indemnification under this Agreement
or otherwise, unless the Asset Representations Reviewer’s defense of such claim is materially prejudiced thereby.

 

(i)       The
applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer, Non-Serviced Certificate Administrator, Non-Serviced Operating
Advisor, Non-Serviced Asset Representations Reviewer, Non-Serviced Depositor and Non-Serviced Trustee, and any of their respective
partners, directors, officers, shareholders, members, managers, employees or agents and the applicable Non-Serviced Trust (collectively,
the “Non-Serviced Indemnified Parties”), shall be indemnified by the Trust and held harmless against the Trust’s
pro rata share (subject to the applicable Non-Serviced Co-Lender Agreement) of any and all claims, losses, penalties, fines,
forfeitures, legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred in connection
with the servicing and administration of a Non-Serviced Mortgage Loan and the related Non-Serviced Mortgaged Property (or with
respect to the Non-Serviced Operating Advisor and/or Non-Serviced Asset Representations Reviewer, incurred in connection with the
provision of services for such Non-Serviced Mortgage Loan) under the applicable Non-Serviced Pooling Agreement (as and to the same
extent the

 

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applicable Non-Serviced Trust is required to indemnify such parties in respect of other mortgage loans in the applicable
Non-Serviced Trust pursuant to the terms of the related Non-Serviced Pooling Agreement).

 

The indemnification provided
herein shall survive the termination of this Agreement and the termination or resignation of the Master Servicer (including in
its capacity as Companion Paying Agent), any Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor
or the Asset Representations Reviewer.

 

Section
6.05     Depositor, Master Servicer and Special Servicers Not to Resign. Subject to the
provisions of Section 6.03, neither the Master Servicer nor the Special Servicers shall resign from their respective
obligations and duties hereby imposed on each of them except upon (a) determination that such party’s duties hereunder
are no longer permissible under applicable law or (b) in the case of the Master Servicer or a Special Servicer, upon the
appointment of, and the acceptance of such appointment by, a successor master servicer or special servicer, as applicable,
and receipt by the Certificate Administrator and the Trustee of Rating Agency Confirmation from each Rating Agency and a
confirmation of any applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any class of Serviced Companion Loan Securities (if any) (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25). Any such determination permitting
the resignation of the Master Servicer or such Special Servicer pursuant to clause (a) above shall be evidenced by an
Opinion of Counsel (at the expense of the resigning party) to such effect delivered to the Trustee and (prior to the
occurrence of a Consultation Termination Event) the Controlling Class Representative. No such resignation by the Master
Servicer or the applicable Special Servicer shall become effective until the Trustee or a successor master servicer or
successor special servicer, as applicable, shall have assumed the Master Servicer’s or such Special Servicer’s,
as applicable, responsibilities and obligations in accordance with Section 7.02 and no such resignation by the Master
Servicer or such Special Servicer shall become effective until the Certificate Administrator shall have filed any required
Form 8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have been completed with respect to any
related Companion Loan. Upon any termination (as described in Section 7.01(c)) or resignation of the Master Servicer
or such Special Servicer, pursuant to this Section 6.05, the Master Servicer or such Special Servicer, as applicable,
shall have the right and opportunity to appoint any successor master servicer or special servicer with respect to this Section
6.05; provided that, such successor master servicer or special servicer shall not be the Asset Representations
Reviewer, the Operating Advisor or one of their respective Affiliates and (prior to the occurrence and continuance of a
Control Termination Event) such successor special servicer is approved by the Directing Holder, such approval not to be
unreasonably withheld. The resigning party shall pay all costs and expenses (including costs and expenses incurred by the
Trustee and the Certificate Administrator) associated with a transfer of its duties pursuant to this Section 6.05.
Except as provided in Section 7.01(c), in no event shall the Master Servicer or such Special Servicer have the right
to appoint any successor master servicer or special servicer if such Master Servicer or Special Servicer, as applicable, is
terminated or removed pursuant to Section 7.01.

 

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Section
6.06     Rights of the Depositor in Respect of the Master Servicer and the Special Servicers.
The Depositor may, but is not obligated to, enforce the obligations of the Master Servicer and any Special Servicer hereunder
and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of the Master Servicer
and any Special Servicer hereunder or exercise the rights of the Master Servicer or any Special Servicer, as applicable,
hereunder; provided, however, that the Master Servicer and the Special Servicers shall not be relieved of any
of their respective obligations hereunder by virtue of such performance by the Depositor or its designee. The Depositor shall
not have any responsibility or liability for any action or failure to act by the Master Servicer or any Special Servicer and
is not obligated to supervise the performance of the Trustee, the Master Servicer, the Operating Advisor or the Special
Servicers under this Agreement or otherwise.

 

Section
6.07     The Master Servicer and the Special Servicers as Certificate Owner. The Master
Servicer, any Special Servicer or any Affiliate thereof may become the Holder of (or, in the case of a Book-Entry
Certificate, Certificate Owner with respect to) any Certificate with (except as otherwise set forth in the definition of
“Certificateholder”) the same rights it would have if it were not the Master Servicer, a Special Servicer
or an Affiliate thereof.

 

Section
6.08     The Directing Holder. (a) For so long as no Control Termination Event has occurred
and is continuing, the Directing Holder shall be entitled to advise (1) the applicable Special Servicer with respect to all
Specially Serviced Mortgage Loans (other than any Excluded Loan), (2) the applicable Special Servicer with
respect to Non-Specially Serviced Mortgage Loans (other than any Excluded Loan) as to all Special Servicer Major Decisions
and (3) the Master Servicer with respect to Non-Specially Serviced Mortgage Loans (other than any Excluded
Loan) as to all Master Servicer Major Decisions. Notwithstanding anything herein to the contrary, except as set forth in,
and in any event subject to the second and third paragraphs of, this Section 6.08, with respect to any Mortgage Loan
(other than any Non-Serviced Mortgage Loan or any Excluded Loan) or any Serviced Whole Loan, for so long as no Control
Termination Event has occurred and is continuing, neither the Master Servicer or such Special Servicer shall be permitted to
take any of the following actions (each a “Major Decision”) as to
which the Directing Holder has objected in writing within ten (10) Business Days (or thirty (30) days with respect to clause
(x) below) after receipt of the applicable written recommendation and analysis (provided that if such written
objection has not been received by the Master Servicer or such Special Servicer, as applicable, within such ten (10) Business
Day (or thirty (30) day) period, then the Directing Holder will be deemed to have approved such action):

 

(i)       any
proposed or actual foreclosure upon or comparable conversion (which may include acquisition of an REO Property) of the ownership
of properties securing such of the Mortgage Loans and/or Serviced Whole Loans as come into and continue in default;

 

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(ii)      any
modification, consent to a modification or waiver of any monetary term (other than Penalty Charges (which the Master Servicer or
the applicable Special Servicer, as applicable, is permitted to waive pursuant to this Agreement)) or material non-monetary term
(including, without limitation the timing of payments and acceptance of discounted pay-offs, but excluding the waiver of Penalty
Charges) of a Mortgage Loan or Serviced Whole Loan or any extension of the maturity date of such Mortgage Loan or Serviced Whole
Loan;

 

(iii)     any
sale of a Defaulted Mortgage Loan and any related defaulted Companion Loan, as applicable, or any REO Property (other than in connection
with the termination of the Trust) for less than the applicable Purchase Price (excluding the amount described in clause (vi) and
clause (vii) of the definition of “Purchase Price”);

 

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

 

(v)      any
release of collateral or any acceptance of substitute or additional collateral for a Mortgage Loan or Serviced Whole Loan or any
consent to either of the foregoing, other than immaterial condemnation actions and other similar takings, or if otherwise required
pursuant to the specific terms of the related Mortgage Loan or Serviced Whole 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 a Mortgage Loan or Serviced Whole
Loan, if lender consent is required, any consent to such waiver or consent to a transfer of the Mortgaged Property or interests
in the Mortgagor or consent to the incurrence of additional debt, other than any such transfer or incurrence of debt as may be
effected without the consent of the lender under the related loan agreement or related to an immaterial easement, right of way
or similar agreement;

 

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

 

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

 

(ix)      the
determination of the applicable Special Servicer pursuant to clause (ii), clause (iii) or (viii) of the definition of “Servicing
Transfer Event”;

 

(x)       following
a default or an event of default with respect to a Mortgage Loan or Serviced Whole Loan, any acceleration of the Mortgage Loan
or Serviced Whole Loan, as the case may be, or initiation of judicial, bankruptcy or similar proceedings

 

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under the related Mortgage
Loan documents or with respect to the related borrower or Mortgaged Property;

 

(xi)      approving
leases, lease modifications or amendments or any requests for subordination non-disturbance and attornment agreements or other
similar agreements with respect to any lease that (a) involves a ground lease or lease of an outparcel or affects an area greater
than or equal to the lesser of (1) 20,000 square feet or (2) 20% of the net rentable area of the related Mortgaged Property, (b)
involves a tenant or space specifically identified by name or space location in the related Mortgage Loan documents as requiring
the consent of the lender for the associated activity or (c) such transaction is not a routine leasing matter for a customary lease
of space for parking office retail, warehouse, industrial and/or manufacturing purposes;

 

(xii)     the
voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of a Mortgagor;

 

(xiii)    any
property management company changes or franchise changes to the extent the lender is required to consent or approve under the Mortgage
Loan documents;

 

(xiv)    any
modification, waiver or amendment of a intercreditor agreement, Co-Lender Agreement or similar agreement with any mezzanine lender
or subordinate debt holder related to a Mortgage Loan or Serviced Whole Loan, or an action to enforce rights with respect thereto,
in each case, in a manner that materially and adversely affects the holders of the Control Eligible Certificates;

 

(xv)     any
determination of an Acceptable Insurance Default;

 

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

 

(xvii)   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, in each case, to the
extent the lender has discretion under the related Mortgage Loan documents; and

 

(xviii)  approving
annual budgets for the related Mortgaged Property with increases (in excess of 10%) in operating expenses or payments to entities
actually known by the Master Servicer to be affiliates of the related borrower (excluding affiliated managers paid at fee rates
agreed to at the origination of the related Mortgage Loan or Serviced Whole Loan);

 

provided, further, that,
in the event that the applicable Special Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized
by this Agreement to take such action), as applicable, determines that immediate action, with respect to the foregoing matters,
or any other matter requiring consent of the Directing Holder prior to the occurrence and continuance of a Control Termination
Event in this Agreement (or any matter requiring consultation with the

 

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Controlling Class Representative or the Operating Advisor),
is necessary to protect the interests of the Certificateholders (or, with respect to any Serviced Whole Loan, the interest of the
Certificateholders and the holders of any related Serviced Companion Loan) (as a collective whole (taking into account the subordinate
or pari passu nature of any Companion Loans)), the applicable Special Servicer or Master Servicer, as applicable, may take
any such action without waiting for the Directing Holder’s response (or without waiting to consult with the Directing Holder
or the Operating Advisor, as the case may be), provided that the applicable Special Servicer or Master Servicer, as applicable,
provides the Directing Holder (or the Operating Advisor, if applicable) with prompt written notice following such action including
a reasonably detailed explanation of the basis therefor. Neither the Master Servicer nor the applicable Special Servicer is required
to obtain the consent of the Controlling Class Representative for any of the foregoing actions after the occurrence and during
the continuance of a Control Termination Event; provided, however, that, after the occurrence and during the continuance
of a Control Termination Event but, with respect to the Controlling Class Representative only, prior to the occurrence of a Consultation
Termination Event, the Master Servicer or applicable Special Servicer, as applicable, shall consult with the Controlling Class
Representative in connection with any Major Decision that it is processing or, in the case of the applicable Special Servicer,
any Asset Status Report (and any other actions which otherwise require consultation with the Controlling Class Representative prior
to a Consultation Termination Event hereunder) and consider alternative actions recommended by the Directing Holder, in respect
thereof. In the event the Master Servicer or the applicable Special Servicer, as applicable, receives no response from the Controlling
Class Representative within 10 days following its written request for input on any required consultation, the Master Servicer or
applicable Special Servicer, as applicable, shall not be obligated to consult with the Controlling Class Representative on the
specific matter; provided, however, that the failure of the Controlling Class Representative to respond shall
not relieve the Master Servicer or the applicable Special Servicer, as applicable, from consulting with the Controlling Class Representative
on any future matters with respect to the applicable Mortgage Loan or any other Mortgage Loan. In addition, after the occurrence
and during the continuance of a Control Termination Event and with respect to any Serviced AB Mortgage Loan, the Master Servicer
or the applicable Special Servicer will also be required to consult with the Operating Advisor in connection with any proposed
Major Decision that it is processing (and any other actions which otherwise require consultation with the Operating Advisor after
the occurrence and during the continuance of a Control Termination Event hereunder) and consider alternative actions recommended
by the Operating Advisor, in respect thereof, provided that such consultation is on a non-binding basis. In the event that
the Master Servicer or the applicable Special Servicer, as applicable, receives no response from the Operating Advisor within ten
(10) days following the later of (i) its written request for input on any required consultation and (ii) delivery of all such additional
information reasonably requested by the Operating Advisor related to the subject matter of such consultation, the Master Servicer
or the applicable Special Servicer, as applicable, shall not be obligated to consult with the Operating Advisor on the specific
matter; provided, however, that the failure of the Operating Advisor to respond on any specific matters shall not
relieve the Master Servicer or the applicable Special Servicer, as applicable, from its obligation to consult with the Operating
Advisor on any future matter with respect to the applicable Mortgage Loan or any other Mortgage Loan. Notwithstanding anything
herein to the contrary, with respect to any Excluded Loan (regardless of whether a Control Termination Event has occurred and is
continuing), the Master Servicer or the applicable Special Servicer shall

 

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consult with the Operating Advisor, on a non-binding
basis, in connection with the related transactions involving proposed Major Decisions and consider alternative actions recommended
by the Operating Advisor, in respect thereof, in accordance with the procedures set forth in this Section 6.08 for consulting
with the Operating Advisor.

 

Subject to the terms
and conditions of this Section 6.08(a), including, without limitation, the first proviso set forth at the conclusion of
the immediately preceding paragraph, (a) the applicable Special Servicer shall process all requests for any matter that constitutes
a Major Decision with respect to any Specially Serviced Mortgage Loan, (b) the applicable Special Servicer shall process all requests
for any matter that constitutes a Special Servicer Major Decision with respect to any Non-Specially Serviced Mortgage Loan (other
than a Non-Serviced Mortgage Loan) unless the Master Servicer and the applicable Special Servicer have mutually agreed to have
the Master Servicer process such request in accordance with the terms and conditions reasonably agreed to by the Master Servicer
and Special Servicer, including the applicable Special Servicer’s consent, (c) the Master Servicer shall process all requests
for any matter that constitutes a Master Servicer Major Decision with respect to any Non-Specially Serviced Mortgage Loan (other
than a Non-Serviced Mortgage Loan) if the Master Servicer and the applicable Special Servicer have mutually agreed to have the
Master Servicer process such request in accordance with the terms and conditions reasonably agreed to by the Master Servicer and
Special Servicer, including the applicable Special Servicer’s consent. Upon receiving a request for any matter that constitutes
a Special Servicer Major Decision, the Master Servicer shall forward such request to the applicable Special Servicer and, unless
the Master Servicer and the applicable Special Servicer mutually agree that the Master Servicer will process such request in accordance
with the terms and conditions reasonably agreed to by the Master Servicer and Special Servicer, including the applicable Special
Servicer’s consent, the applicable Special Servicer will be required to process such request and the Master Servicer will
have no further obligation with respect to such request or the related Special Servicer Major Decision.

 

With respect to any Mortgagor
request or other action on Non-Specially Serviced Mortgage Loans that is not a Special Servicer Non-Major Decision or a Major Decision,
the Master Servicer shall not be required to obtain the consent of or consult with any Special Servicer, any Directing Holder or
the Operating Advisor.

 

In addition, with respect
to any Mortgage Loan other than an Excluded Loan, for so long as no Control Termination Event has occurred and is continuing, the
Directing Holder subject to any rights, if any, of the related Companion Holder to advise the applicable Special Servicer with
respect to the related Serviced Whole Loan, pursuant to the terms of the related Co-Lender Agreement, may direct the applicable
Special Servicer to take, or to refrain from taking, such other actions with respect to a Mortgage Loan, as the Directing Holder
may deem advisable or as to which provision is otherwise made herein; provided that notwithstanding anything herein to the
contrary, no such direction or objection contemplated by the preceding paragraph or this paragraph, may require or cause the Master
Servicer or applicable Special Servicer to violate any provision of any Mortgage Loan or related Co-Lender Agreement or mezzanine
intercreditor agreement, applicable law, this Agreement, or the REMIC Provisions (and, with respect to a Serviced Whole Loan, subject
to the rights of the holders of the related Companion Loan), including without limitation the obligation of the Master Servicer
and any Special Servicer to act in accordance with the Servicing Standard, or expose the Master Servicer,

 

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the Special Servicers,
the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer, the Trust or the Trustee to liability,
or materially expand the scope of the responsibilities of the Master Servicer or any Special Servicer, as applicable, hereunder
or cause the Master Servicer or any Special Servicer, as applicable, to act, or fail to act, in a manner which in the reasonable
judgment of the Master Servicer or the applicable Special Servicer, as the case may be, is not in the best interests of the Certificateholders.

 

In the event a Special
Servicer or Master Servicer, as applicable, determines that a refusal to consent by the Directing Holder or any advice from the
Directing Holder, would cause such Special Servicer or Master Servicer, as applicable, to violate the terms of any Mortgage Loan,
applicable law or this Agreement, including without limitation, the Servicing Standard, such Special Servicer or Master Servicer,
as applicable, shall disregard such refusal to consent or advise and notify the Directing Holder, the Trustee and the Rating Agencies
of its determination, including a reasonably detailed explanation of the basis therefor. The taking of, or refraining from taking,
any action by the Master Servicer or such Special Servicer in accordance with the direction of or approval of the Directing Holder
that does not violate the terms of any Mortgage Loan, applicable law or the Servicing Standard or any other provisions of this
Agreement, will not result in any liability on the part of the Master Servicer or such Special Servicer.

 

The Directing Holder
shall have no liability to the Trust or the Certificateholders for any action taken, or for refraining from the taking of any action,
or for errors in judgment; provided, however, that the Directing Holder shall not be protected against any liability
to a Controlling Class Certificateholder that would otherwise be imposed by reason of willful misconduct, bad faith or gross negligence
in the performance of duties owed to the Controlling Class Certificateholders or by reason of reckless disregard of obligations
or duties owed to the Controlling Class Certificateholders. By its acceptance of a Certificate, each Certificateholder acknowledges
and agrees that the Directing Holder may take actions that favor the interests of one or more Classes of the Certificates including
the Holders of the Controlling Class over other Classes of the Certificates, and that the Directing Holder may have special relationships
and interests that conflict with those of Holders of some Classes of the Certificates, that the Directing Holder may act solely
in the interests of the Controlling Class Certificateholders, including the Holders of the Controlling Class, that the Directing
Holder does not have any duties or liability to the Holders of any Class of Certificates other than the Controlling Class, that
the Directing Holder shall not be liable to any Certificateholder, by reason of its having acted solely in the interests of the
Controlling Class Certificateholders, and that the Directing Holder shall have no liability whatsoever for having so acted, and
no Certificateholder may take any action whatsoever against the Directing Holder or any director, officer, employee, agent or principal
thereof for having so acted.

 

Any Non-Serviced Whole
Loan Controlling Holder, with respect to a Non-Serviced Whole Loan, shall have no liability to the Trust or the Certificateholders
for any action taken, or for refraining from the taking of any action, or for errors in judgment. By its acceptance of a Certificate,
each Certificateholder acknowledges and agrees that any such Non-Serviced Whole Loan Controlling Holder, with respect to the related
Non-Serviced Whole Loan, may take actions that favor the interests of one or more classes of the certificates issued under the
related Non-Serviced Pooling Agreement including the Holders of the controlling class under such Non-Serviced Pooling Agreement
over other Classes of the Certificates, and that such Non-

 

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Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced
Whole Loan, may have special relationships and interests that conflict with those of Holders of some Classes of the Certificates,
that such Non-Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, may act solely in the interests
of the Holders of the controlling class under the related Non-Serviced Pooling Agreement, that such Non-Serviced Whole Loan Controlling
Holder, shall not be liable to any Certificateholder, by reason of its having acted solely in the interests of the Holders of the
controlling class under the related Non-Serviced Pooling Agreement, and that the Non-Serviced Whole Loan Controlling Holder, with
respect to such Non-Serviced Whole Loan, shall have no liability whatsoever for having so acted, and no Certificateholder may take
any action whatsoever against such Non-Serviced Whole Loan Controlling Holder, with respect to such Non-Serviced Whole Loan, or
any director, officer, employee, agent or principal thereof for having so acted.

 

(b)       Notwithstanding
anything to the contrary contained herein (i) after the occurrence and during the continuance of a Control Termination Event (and
at any time with respect to any Excluded Loan), the Directing Holder shall have no right to consent to or direct any action taken
or not taken by any party to this Agreement; (ii) after the occurrence and during the continuance of a Control Termination Event
but prior to the occurrence of a Consultation Termination Event, the Directing Holder shall remain entitled to receive any notices,
reports or information to which it is entitled pursuant to this Agreement, and the Master Servicer, the applicable Special Servicer
and any other applicable party shall consult with the Directing Holder (other than with respect to any Excluded Loan) in connection
with any action to be taken or refrained from taking to the extent set forth herein; and (iii) after the occurrence of a Consultation
Termination Event (and at any time with respect to any Excluded Loan, the Directing Holder shall have no direction, consultation
or consent rights hereunder and no right to receive any notices, reports or information (other than notices, reports or information
required to be delivered to all Certificateholders) or any other rights as Directing Holder.

 

[End of Article VI]

 

Article
VII

SERVICER TERMINATION EVENTS

 

Section
7.01     Servicer Termination Events; Master Servicer and Special Servicers Termination. (a)
“Servicer Termination Event,” wherever used herein, means any one of the following events:

 

(i)       (A)
any failure by the Master Servicer to make any deposit required to be made by the Master Servicer to the Collection Account, to
the Companion Paying Agent for deposit into the related Serviced Whole Loan Custodial Account or to a Companion Holder, on the
day and by the time such deposit or remittance is first required to be made under the terms of this Agreement, which failure is
not remedied within one (1) Business Day or (B) any failure by the Master Servicer to deposit into, or remit to the Certificate
Administrator for deposit into, any Distribution Account any amount required to be so deposited or remitted, which failure is not
remedied by 11:00 a.m. (New York City time) on the relevant Distribution Date; or

 

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(ii)       any
failure by the applicable Special Servicer to deposit into the applicable REO Account, within two (2) Business Days after such
deposit is required to be made or to remit to the Master Servicer for deposit into the Collection Account or any other required
account hereunder, any amount required to be so deposited or remitted by such Special Servicer pursuant to, and at the time specified
by, the terms of this Agreement; or

 

(iii)       any
failure on the part of the Master Servicer or such Special Servicer duly to observe or perform in any material respect any of its
other covenants or obligations contained in this Agreement which continues unremedied for a period of thirty (30) days (or (A)
five (5) Business Days in the case of the Master Servicer’s or such Special Servicer’s obligations, as applicable,
contemplated by Article XI (except as otherwise provided under clause (xi) of this definition of “Servicer Termination
Event”), (B) ten (10) days in the case of the Master Servicer’s failure to make a Property Protection Advance or (C)
fifteen (15) days in the case of a failure to pay the premium for any property insurance policy required to be maintained) after
the date on which written notice of such failure, requiring the same to be remedied, shall have been given (A) to the Master Servicer
or such Special Servicer, as the case may be, by any other party hereto, or (B) to the Master Servicer or such Special Servicer,
as the case may be, with a copy to each other party to this Agreement, by the Holders of Certificates evidencing Percentage Interests
aggregating not less than 25% of the Voting Rights allocable to such class or, solely as it relates to the servicing of a Serviced
Pari Passu Whole Loan if affected by such failure, by the related Serviced Companion Noteholder or, solely as it relates to the
servicing of Trust Subordinate Companion Loan if affected by such failure, the Holders of not less than 25% of the Certificate
Balance of each affected Class of the Loan-Specific Certificates (as holders of a beneficial interest in the related Trust Subordinate
Companion Loan); provided, however, if such failure is capable of being cured and the Master Servicer or such Special
Servicer, as applicable, is diligently pursuing such cure, such period will be extended an additional thirty (30) days; provided,
further, however, that such extended period will not apply to the obligations regarding Exchange Act reporting; or

 

(iv)       any
breach on the part of the Master Servicer or such Special Servicer of any representation or warranty contained in Section 6.01(a)
and Section 6.01(b), as applicable, which materially and adversely affects the interests of any Class of Certificateholders
or Companion Holders (excluding the holder of any Non-Serviced Companion Loan) and which continues unremedied for a period of thirty
(30) days after the date on which notice of such breach, requiring the same to be remedied, shall have been given to the Master
Servicer or such Special Servicer, as the case may be, by the Depositor, the Certificate Administrator or the Trustee, or to the
Master Servicer, such Special Servicer, the Depositor, the Certificate Administrator and the Trustee by the Holders of Certificates
evidencing Percentage Interests aggregating not less than 25% of the Voting Rights allocable to such class or, as it relates to
the servicing of a Serviced Pari Passu Whole Loan if affected by such breach, by the related Serviced Companion Noteholder or,
solely as it relates to the servicing of Trust Subordinate Companion Loan if affected by such failure the Holders of not less than
25% of the Certificate Balance of each affected Class of the Loan-Specific Certificates (as holders of a beneficial interest in
the related Trust Subordinate Companion Loan); provided, however, that if such breach is

 

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capable of being cured and
the Master Servicer or such Special Servicer, as applicable, is diligently pursuing such cure, such 30-day period will be extended
an additional thirty (30) days; or

 

(v)       a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator, receiver, liquidator,
trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer or such Special
Servicer and such decree or order shall have remained in force undischarged, undismissed or unstayed for a period of sixty (60)
days; or

 

(vi)       the
Master Servicer or such Special Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar
official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or
relating to the Master Servicer or such Special Servicer or of or relating to all or substantially all of its property; or

 

(vii)       the
Master Servicer or such Special Servicer shall admit in writing its inability to pay its debts generally as they become due, file
a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit
of its creditors, voluntarily suspend payment of its obligations or take any corporate action in furtherance of the foregoing;
or

 

(viii)       either
of Moody’s or KBRA (or, in the case of Serviced Companion Loan Securities, any Companion Loan Rating Agency) has (A) qualified,
downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or one or more classes of Serviced Companion
Loan Securities, or (B) placed one or more Classes of Certificates or one or more classes of Serviced Companion Loan Securities
on “watch status” in contemplation of a rating downgrade or withdrawal (and such qualification, downgrade, withdrawal
or “watch status” placement shall not have been withdrawn by Moody’s or KBRA (or, in the case of Serviced Companion
Loan Securities, any Companion Loan Rating Agency) within sixty (60) days of such event) and, in the case of either of clauses
(A) or (B), publicly citing servicing concerns with the Master Servicer or the applicable Special Servicer, as applicable, as the
sole or a material factor in such rating action;

 

(ix)       the
Master Servicer or the applicable Special Servicer is no longer rated at least “CMS3” or “CSS3”, respectively,
by Fitch and such Master Servicer or the applicable Special Servicer is not reinstated to at least that rating within sixty (60)
days of the delisting;

 

(x)       the
Master Servicer or the applicable Special Servicer is removed from S&P’s Select Servicer List as a U.S. Commercial Mortgage
Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, and is not restored to such status on such list
within sixty (60) days; or

 

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(xi)       any
failure by the Master Servicer or the applicable Special Servicer to deliver (a) any Exchange Act reporting items required to be
delivered by the Master Servicer or the applicable Special Servicer to the Trustee or the Certificate Administrator under this
Agreement (other than items to be delivered by a sub-servicer retained by the Mortgage Loan Seller) by the time required under
this Agreement after any applicable grace periods or (b) any Exchange Act reporting items that a primary servicer, sub-servicer
or servicing function participant retained by the Master Servicer is required to deliver (any such primary servicer, sub-servicer
or servicing function participant will be terminated if it defaults in accordance with the provision of this clause (xi)).

 

(b)       If
any Servicer Termination Event with respect to the Master Servicer or the applicable Special Servicer (in either case, for purposes
of this Section 7.01(b), the “Affected Party”) shall occur and be continuing, then, and in each and every
such case, so long as such Servicer Termination Event shall not have been remedied, the Trustee or the Depositor may, and at the
written direction of ((i) prior to the occurrence and continuance of a Control Termination Event and (ii) other than with respect
to any Excluded Loan) the Directing Holder (solely with respect to the applicable Special Servicer) or the Holders of Certificates
evidencing at least (a) 25% of the Voting Rights in the case of the Master Servicer, (b) 25% of the Pooled Voting Rights in the
case of the Special Servicer (other than with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan), and (c) 25%
of the Voting Rights in the case of the Special Servicer with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan,
the Trustee shall, terminate (and the Depositor may direct the Trustee to terminate each of the Master Servicer or the applicable
Special Servicer as applicable, upon five Business Days’ written notice if there is a Servicer Termination Event under clause
(iii)(A) above), by notice in writing to the Affected Party, with a copy of such notice to the Depositor and the Operating
Advisor, all of the rights (subject to Section 3.11 and Section 6.04) and obligations of the Affected Party under
this Agreement and in and to the Mortgage Loans and the Trust Subordinate Companion Loans and the proceeds thereof (other than
as a Certificateholder or Companion Holder, if applicable); provided, however, that the Affected Party shall be entitled
to the payment of accrued and unpaid compensation and reimbursement through the date of such termination as provided for under
this Agreement for services rendered and expenses incurred. From and after the receipt by the Affected Party of such written notice
except as otherwise provided in this Article VII, all authority and power of the Affected Party under this Agreement, whether
with respect to the Certificates (other than as a Holder of any Certificate) or the Mortgage Loans and the Trust Subordinate Companion
Loans or otherwise, shall pass to and be vested in the Trustee with respect to a termination of the Master Servicer or such Special
Servicer pursuant to and under this Section 7.01, and, without limitation, the Trustee is hereby authorized and empowered
to execute and deliver, on behalf of and at the expense of the Affected Party, as attorney-in-fact or otherwise, any and all documents
and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such
notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans or the Trust Subordinate
Companion Loans and related documents, or otherwise. The Master Servicer and such Special Servicer each agree that if it is terminated
pursuant to this Section 7.01(b), it shall promptly (and in any event no later than twenty (20) Business Days subsequent
to its receipt of the notice of termination) provide the Trustee with all documents and records requested by it to enable it to
assume the Master Servicer’s or such Special Servicer’s, as the case may be, functions hereunder, and shall cooperate
with the Trustee

 

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in effecting the termination of the Master Servicer’s or such Special Servicer’s, as the case may
be, responsibilities and rights (subject to Section 3.11 and Section 6.04) hereunder, including, without limitation,
the transfer within five (5) Business Days to the Trustee for administration by it of all cash amounts which shall at the time
be or should have been credited by the Master Servicer to the Collection Account or any Servicing Account (if it is the Affected
Party), by such Special Servicer to the applicable REO Account (if it is the Affected Party) or thereafter be received with respect
to the Mortgage Loans, the Trust Subordinate Companion Loan or any REO Property (provided, however, that the Master
Servicer and such Special Servicer each shall, if terminated pursuant to this Section 7.01(b) or pursuant to Section
7.01(d) (with respect to such Special Servicer), continue to be entitled to receive all amounts accrued or owing to it under
this Agreement on or prior to the date of such termination, whether in respect of Advances (in the case of such Special Servicer
or the Master Servicer) or otherwise, and it and its Affiliates and the directors, managers, officers, members, employees and agents
of it and its Affiliates shall continue to be entitled to the benefits of Section 3.11 and Section 6.04 notwithstanding
any such termination).

 

(c)       If
the Master Servicer receives notice of termination under Section 7.01(b) solely due to a Servicer Termination Event under
Section 7.01(a)(viii), (ix) or (x), the Master Servicer shall have a forty-five (45) day period after such notice
in which to find a successor master servicer qualified to act as Master Servicer hereunder in accordance with Section 6.03
and Section 7.02 and to which the Master Servicer can sell its rights to service the Mortgage Loans and the Trust Subordinate
Companion Loans under this Agreement. During such forty-five (45) day period the Master Servicer may continue to serve as Master
Servicer hereunder. In the event that the Master Servicer is unable, within such forty-five (45) day period, to cause a qualified
successor master servicer to assume the duties of the Master Servicer hereunder, then and in such event, the Trustee shall assume
the obligations of the Master Servicer hereunder.

 

Notwithstanding
Section 7.01(b), if any Servicer Termination Event on the part of the General Special Servicer shall occur and be continuing
that affects the Holder of a Serviced Pari Passu Companion Loan, then, so long as the General Special Servicer is not otherwise
terminated, the Holder of such Serviced Pari Passu Companion Loan or the Other Trustee appointed under the related Other Pooling
and Servicing Agreement, as applicable, shall be entitled to direct the Trustee to terminate the General Special Servicer with
respect to the related Serviced Pari Passu Whole Loan. Any General Special Servicer appointed to replace the General Special Servicer
with respect to a Serviced Pari Passu Mortgage Loan cannot at any time be (without the prior written consent of the holder of such
Serviced Pari Passu Companion Loan) the person (or Affiliate thereof) that was terminated at the direction of the holder of the
related Serviced Pari Passu Companion Loan. Any such Special Servicer under this paragraph shall meet the eligibility requirements
of Section 7.02 and the eligibility requirements of the related Other Pooling and Servicing Agreement, and the appointment
thereof shall comply with the provisions of Section 7.02. Any appointment of a replacement General Special Servicer in accordance
with this paragraph shall be subject to the receipt of Rating Agency Confirmation and confirmation from the rating agencies that
such appointment or replacement will not result in the downgrade, withdrawal or qualification of the then-current ratings of any
class of any related Serviced Companion Loan Securities (provided that such rating agency confirmation may be

 

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considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25).

 

(d)       Subject
to the rights of the holder of a related AB Subordinate Companion Loan and the rights of the Holders of the Loan-Specific Certificates
pursuant to the related Co-Lender Agreement at any time prior to the occurrence and continuance of a Control Termination Event
and other than with respect to any Excluded Loan, the Directing Holder shall be entitled to terminate the rights (subject to Section
3.11 and Section 6.04) and obligations of such Special Servicer under this Agreement, with or without cause, upon ten
(10) Business Days’ notice to such Special Servicer, the Master Servicer, the Certificate Administrator, the Trustee and
the Operating Advisor; such termination to be effective upon the appointment of a successor special servicer meeting the requirements
of this Section 7.01(d). Upon a termination of such Special Servicer, the Directing Holder (other than with respect to any
Excluded Loan) shall appoint a successor special servicer; provided, however, that (i) such successor will meet the
requirements set forth in Section 7.02, (ii) each Rating Agency delivers Rating Agency Confirmation and, in the case of
any class of any Serviced Companion Loan Securities the applicable rating agencies deliver a confirmation that such action will
not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25) and (iii) no replacement of such Special Servicer shall be effective until the Certificate
Administrator shall have filed any required Form 8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have
been completed with respect to any related Companion Loan.

 

After the occurrence
and during the continuance of a Control Termination Event that relates to any Mortgage Loan (but for so long as no Control Termination
Event is continuing with respect to each of the AMA Plaza Whole Loan and 225 Bush Street Whole Loan), upon (a) the written direction
of Holders of Pooled Principal Balance Certificates evidencing not less than 25% of the Pooled Voting Rights (taking into account
the application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balances pursuant to Section 4.05
hereof) of the Pooled Principal Balance Certificates requesting a vote to replace such Special Servicer (other than with respect
to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan) with a new special servicer designated in such written direction, (b)
payment by such Holders to the Certificate Administrator of the reasonable fees and expenses (including any legal fees and any
Rating Agency fees and expenses) to be incurred by the Certificate Administrator in connection with administering such vote and
which will not be additional expenses of the Trust and (c) delivery by such Holders to the Certificate Administrator and Trustee
of Rating Agency Confirmation from each Rating Agency (which Rating Agency Confirmation shall be obtained at the expense of such
Holders), the Certificate Administrator shall promptly post notice to all Certificateholders of such request on the Certificate
Administrator’s Website in accordance with Section 3.13(b) and concurrently by mail, and conduct the solicitation
of votes of all Certificates in such regard, which requisite affirmative votes shall be received within one hundred-eighty (180)
days of the posting of such notice. Upon the written direction of Holders of Certificates evidencing at least 75% of a Pooled Certificateholder
Quorum of Certificates or holders of Pooled Principal Balance Certificates evidencing more than 50% of the aggregate Pooled Voting
Rights of each Class of Pooled Non-Reduced Certificates on an aggregate basis, the Trustee shall terminate all of the rights and
obligations of such Special Servicer (other than with respect to the

 

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AMA Plaza Whole Loan and 225 Bush Street Whole Loan) under
this Agreement and appoint the successor special servicer (which must be a Qualified Replacement Special Servicer) designated by
such Certificateholders.

 

After the occurrence
and during the continuance of a Control Termination Event that relates to any Mortgage Loan (and for so long as a Control Termination
Event is continuing with respect to each of the AMA Plaza Whole Loan and 225 Bush Street Whole Loan), upon (a) the written direction
of Holders of Principal Balance Certificates evidencing not less than 25% of the Voting Rights (taking into account the application
of any Appraisal Reduction Amounts to notionally reduce the Certificate Balances pursuant to Section 4.05 hereof) of the
Principal Balance Certificates requesting a vote to replace such Special Servicer with a new special servicer designated in such
written direction, (b) payment by such Holders to the Certificate Administrator of the reasonable fees and expenses (including
any legal fees and any Rating Agency fees and expenses) to be incurred by the Certificate Administrator in connection with administering
such vote and which will not be additional expenses of the Trust and (c) delivery by such Holders to the Certificate Administrator
and Trustee of Rating Agency Confirmation from each Rating Agency (which Rating Agency Confirmation shall be obtained at the expense
of such Holders), the Certificate Administrator shall promptly post notice to all Certificateholders of such request on the Certificate
Administrator’s Website in accordance with Section 3.13(b) and concurrently by mail, and conduct the solicitation
of votes of all Certificates in such regard, which requisite affirmative votes shall be received within one hundred-eighty (180)
days of the posting of such notice. Upon the written direction of Holders of Certificates evidencing at least 75% of a Certificateholder
Quorum of Certificates or holders of Principal Balance Certificates evidencing more than 50% of the aggregate Voting Rights of
each Class of Non-Reduced Certificates on an aggregate basis, the Trustee shall terminate all of the rights and obligations of
such Special Servicer under this Agreement and appoint the successor special servicer (which must be a Qualified Replacement Special
Servicer) designated by such Certificateholders.

 

The Certificate
Administrator shall include on each Distribution Date Statement a statement that each Certificateholder may (i) access such notices
via the Certificate Administrator’s Website and (ii) register to receive electronic mail notifications when such notices
are posted thereon. Notwithstanding the foregoing, the Certificateholders’ direction to replace a Special Servicer will not
apply to a Serviced AB Whole Loan unless a Trust Subordinate Companion Loan Control Termination Event has occurred and is continuing
with respect to the Serviced AB Whole Loan under the related Co-Lender Agreement. With respect to the AMA Plaza Whole Loan, the
Non-Trust Subordinate Companion Loan, will have the right, prior to the occurrence and continuance of a Non-Trust Subordinate Companion
Loan Control Termination Event, to replace the applicable Special Servicer with respect to a Serviced AB Whole Loan. The related
Trust Subordinate Companion Loan, will have the right, after the occurrence and continuance of a Non-Trust Subordinate Companion
Loan Control Termination Event (with respect to the AMA Plaza Whole Loan) and prior to the occurrence and continuance of a related
Trust Subordinate Companion Loan Control Termination Event, to replace the applicable Special Servicer solely with respect to a
Serviced AB Whole Loan.

 

The applicable
Directing Holder, shall have the right, prior to the occurrence and continuance of a Non-Trust Subordinate Companion Loan Control
Termination Event or Trust

 

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Subordinate Companion Loan Control Termination Event, as applicable, to replace the applicable Special
Servicer solely with respect to the related AB Whole Loan, so long as (A) each Rating Agency delivers a Rating Agency Confirmation;
(B) the 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 such Special Servicer under this Agreement from and after
the date it becomes the applicable Special Servicer as they relate to any AB Whole Loan pursuant to an assumption agreement reasonably
satisfactory to the Certificate Administrator; and (C) the Certificate Administrator shall have received an opinion of counsel
reasonably satisfactory to the Certificate Administrator to the effect that (x) the designation of such replacement to serve as
a Special Servicer is in compliance with this Agreement, (y) such replacement will be bound by the terms of this Agreement with
respect to any AB Whole Loan, and (z) subject to customary qualifications and exceptions, this Agreement will be enforceable against
such replacement in accordance with the terms hereof.

 

The parties
hereto acknowledge that, notwithstanding anything to the contrary contained in this section, in accordance with the related Co-Lender
Agreement, if a servicer termination event on the part of a Non-Serviced Special Servicer under a Non-Serviced Pooling Agreement
remains unremedied and affects the holder of the related Non-Serviced Mortgage Loan, and the related Non-Serviced Special Servicer
has not otherwise been terminated, the holder of the related Non-Serviced Mortgage Loan (or the Trustee, acting at the direction
of the Controlling Class Representative) will be entitled to direct the related Non-Serviced Trustee to terminate the related Non-Serviced
Special Servicer solely with respect to the related Non-Serviced Whole Loan. The appointment (or replacement) of a special servicer
with respect to a Non-Serviced Whole Loan, as applicable, will in any event be subject to Rating Agency Confirmation from each
Rating Agency. A replacement special servicer will be selected by the related Non-Serviced Trustee or, prior to a consultation
termination event under the related Non-Serviced Pooling Agreement, by the related Non-Serviced Whole Loan Controlling Holder;
provided, however, that any successor special servicer appointed to replace such Special Servicer with respect to
such Non-Serviced Whole Loan cannot at any time be the Person (or an Affiliate thereof) that was terminated at the direction of
the holder of such Non-Serviced Mortgage Loan, without the prior written consent of the Controlling Class Representative.

 

Following the
occurrence and continuation of a Consultation Termination Event, subject to the immediately succeeding paragraph, if the Operating
Advisor determines that a Special Servicer is not performing its duties as required hereunder or is otherwise not acting in accordance
with the Servicing Standard, the Operating Advisor shall deliver to the Trustee and the Certificate Administrator, with a copy
to such Special Servicer, a written report in the form of Exhibit W attached hereto (which form may be modified or supplemented
from time to time to cure any ambiguity or error or to incorporate any additional information, subject to compliance of such form
with the terms and provisions of this Agreement; provided, further, that in no event shall the information or any
other content included in such written recommendation contravene any provision of this Agreement) detailing the reasons supporting
its recommendation (provided that the Operating Advisor will not be permitted to recommend the replacement of the Special Servicer
for any Whole Loan so long as the holder of the related Companion Loan is the Loan-Specific Directing Holder under the related
Co-Lender Agreement) (along with relevant information justifying its recommendation) and recommending a suggested replacement special
servicer, which shall be a Qualified Replacement Special Servicer. In such event, the Certificate

 

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Administrator shall promptly
post notice to all Certificateholders of such recommendation and the related report on the Certificate Administrator’s Website
in accordance with Section 3.13(b), and by mail conduct the solicitation of votes of all Certificates in such regard. After
the occurrence and during the continuance of a Consultation Termination Event that relates to any Mortgage Loan (but for so long
as no Control Termination Event is continuing with respect to each of the AMA Plaza Whole Loan and 225 Bush Street Whole Loan),
upon (i)(A) the affirmative vote (which requisite affirmative vote must be received within 180 days of the posting of the notice
of the Operating Advisor’s recommendation to replace the applicable Special Servicer to the Certificate Administrator’s
Website) of Holders of Pooled Principal Balance Certificates evidencing at least a majority of the aggregate Pooled Voting Rights
(taking into account the application of any Appraisal Reduction Amounts to notionally reduce the respective Certificate Balances
of such Certificates) of all Pooled Principal Balance Certificates on an aggregate basis or (B) after the occurrence and during
the continuance of a Consultation Termination Event that relates to any Mortgage Loan (and for so long as a Control Termination
Event is continuing with respect to each of the AMA Plaza Whole Loan and 225 Bush Street Whole Loan) the affirmative vote (which
requisite affirmative vote must be received within 180 days of the posting of the notice of the Operating Advisor’s recommendation
to replace the applicable Special Servicer to the Certificate Administrator’s Website) of Holders of Principal Balance Certificates
evidencing at least a majority of the aggregate Voting Rights (taking into account the application of any Appraisal Reduction Amounts
to notionally reduce the respective Certificate Balances of such Certificates) of all Principal Balance Certificates on an aggregate
basis and (ii) receipt of Rating Agency Confirmation from each Rating Agency by the Certificate Administrator following satisfaction
of the foregoing clause (i), the Trustee shall (i) terminate all of the rights and obligations of such Special Servicer
under this Agreement and appoint a successor special servicer approved by the Certificateholders and (ii) promptly notify such
outgoing Special Servicer of the effective date of such termination. The reasonable out-of-pocket costs and expenses (including
reasonable legal fees and expenses of outside counsel) associated with obtaining such Rating Agency Confirmations and administering
such vote and the Operating Advisor’s identification of a Qualified Replacement Special Servicer shall be an additional expense
of the Trust. In the event that the Trustee does not receive at least a majority of the requested votes, then the Trustee shall
have no obligation to remove such Special Servicer. Prior to the appointment of any replacement special servicer, such replacement
special servicer shall have agreed to succeed to the obligations of such Special Servicer under this Agreement and to act as such
Special Servicer’s successor hereunder. Notwithstanding the foregoing, the Operating Advisor shall not be permitted to recommend
the replacement of the applicable Special Servicer with respect to an AB Whole Loan so long as the related Serviced Companion Noteholder,
is not subject to an AB Control Appraisal Period (or, with respect to the AMA Plaza Whole Loan, the holder of the Non-Trust Subordinate
Companion Loan is not subject to a Non- Trust Subordinate Companion Loan Control Termination Event or, with respect to the AMA
Plaza Whole Loan and 225 Bush Street Whole Loan, the holder of the related Trust Subordinate Companion Loan is not subject to a
related Trust Subordinate Companion Loan Control Termination Event) under the related Co-Lender Agreement.

 

No penalty or
fee shall be payable to the terminated Special Servicer with respect to any termination pursuant to this Section 7.01(d).
All costs of any such termination made by the Controlling Class Representative without cause shall be paid by the Holders of the
Controlling Class.

 

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For the avoidance
of doubt, the indemnification of the Operating Advisor in Section 6.04 shall include, subject to the limitations set forth
in Section 6.04, any action or claim arising from, or relating to, the Operating Advisor’s determination under this
Section 7.01(d) (regarding removal of a Special Servicer), or the result of the vote of the Certificateholders (regarding
removal of a Special Servicer).

 

(e)       The
Master Servicer and each Special Servicer shall, as the case may be, from time to time, take all such reasonable actions as are
required by it in accordance with the related Servicing Standard in order to prevent the Certificates from being placed on “watch”
status or downgraded due to servicing or special servicing, as applicable, concerns by any Rating Agency. In no event shall the
remedy for a breach of the foregoing covenant extend beyond termination pursuant to Section 7.01(a)(viii) and (ix)
and the resulting operation of Section 7.01(b) and (c). The operation of this subsection (e) shall not be
construed to limit the effect of Section 7.01(a)(viii) or (ix).

 

(f)       Notwithstanding
the foregoing, (1) if any Servicer Termination Event on the part of the Master Servicer affects a Serviced Companion Loan, the
related holder of a Serviced Companion Loan or the rating on any class of certificates backed, wholly or partially, by any Serviced
Companion Loan Securities, and if the Master Servicer is not otherwise terminated, or (2) if a Servicer Termination Event on the
part of the Master Servicer affects only a Serviced Companion Loan, the related holder of a Serviced Companion Loan or the rating
on any class of certificates backed, wholly or partially, by any Serviced Companion Loan Securities, then the Master Servicer may
not be terminated by or at the direction of the related holder of such Serviced Companion Loan or the holders of any certificates
backed, wholly or partially, by such Serviced Companion Loan, but upon the written direction of the related holder of such Serviced
Companion Loan, the Master Servicer shall be required to appoint a sub-servicer that will be responsible for servicing the related
Serviced Whole Loan.

 

(g)       Notwithstanding
anything to the contrary contained in this Section 7.01, with respect to any Excluded Special Servicer Loan, if any, the
related Special Servicer shall resign as Special Servicer of that Excluded Special Servicer Loan. Prior to the occurrence and continuance
of a Control Termination Event, the Directing Holder shall be entitled to select an Excluded Special Servicer, as successor to
the resigning Special Servicer, for the related Excluded Special Servicer Loan in accordance with this Agreement, unless such Excluded
Special Servicer Loan is also an Excluded Loan. After the occurrence and during the continuance of a Control Termination Event
or if at any time the applicable Excluded Special Servicer Loan is also an Excluded Loan, the resigning Special Servicer shall
use reasonable efforts to select the related Excluded Special Servicer. The Special Servicer shall not have any liability with
respect to the actions or inactions of the applicable Excluded Special Servicer or with respect to the identity of the applicable
Excluded Special Servicer (as so long as, on the date of the appointment, such appointment of such Excluded Special Servicer meets
the criteria set forth hereunder). It shall be a condition to any such appointment that (i) the Rating Agencies confirm that the
appointment would not result in a qualification, downgrade or withdrawal of any of their then-current ratings of the Certificates
and the equivalent from each NRSRO hired to provide ratings with respect to any Serviced Companion Loan Securities, (ii) the related
Excluded Special Servicer is a Qualified Replacement Special Servicer and (iii) the related Excluded Special Servicer delivers
to the Depositor and the Certificate Administrator and any applicable

 

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Other Depositor or applicable Other Certificate Administrator,
the information, if any, required under Item 6.02 of Form 8-K pursuant to the Exchange Act regarding itself in its role as Excluded
Special Servicer.

 

If at any time
the applicable Special Servicer is no longer a Borrower Party (including, without limitation, as a result of the related Mortgaged
Property becoming an REO Property) with respect to an Excluded Special Servicer Loan, (1) the related Excluded Special Servicer
shall resign, (2) the related Mortgage Loan or Serviced Whole Loan shall no longer be an Excluded Special Servicer Loan, (3) such
Special Servicer shall become the applicable Special Servicer again for such related Mortgage Loan or Serviced Whole Loan and (4)
such Special Servicer shall be entitled to all special servicing compensation with respect to such Mortgage Loan or Serviced Whole
Loan earned during such time on and after such Mortgage Loan or Serviced Whole Loan is no longer an Excluded Special Servicer Loan;
provided, however, that the related Excluded Special Servicer will not be required to resign if the Directing Holder
determines that such Excluded Special Servicer may continue to serve as special servicer for the applicable Excluded Special Servicer
Loan.

 

The applicable
Excluded Special Servicer shall perform all of the obligations of the applicable Special Servicer for the related Excluded Special
Servicer Loan and shall be entitled to all special servicing compensation with respect to such Excluded Special Servicer Loan earned
during such time as the related Mortgage Loan or Serviced Whole Loan is an Excluded Special Servicer Loan (provided that
the applicable Special Servicer shall remain entitled to all other special servicing compensation with respect all Mortgage Loans
and Serviced Whole Loans that are not Excluded Special Servicer Loans during such time).

 

If a Servicing
Officer of the Master Servicer, a related Excluded Special Servicer, or the applicable Special Servicer, as the case may be, has
actual knowledge that a Mortgage Loan is no longer an Excluded Loan, an Excluded Controlling Class Loan or an Excluded Special
Servicer Loan, as applicable, the Master Servicer, the related Excluded Special Servicer or the applicable Special Servicer, as
the case may be, shall provide prompt written notice thereof to each of the other parties to this Agreement.

 

Section 7.02     Trustee
to Act; Appointment of Successor.  On and after the time the Master Servicer or the applicable Special Servicer
as the case may be, either resigns pursuant to subsection (a) of the first sentence of Section 6.05 or receives a notice
of termination for cause pursuant to Section 7.01(b), and provided that no acceptable successor has been appointed
within the time period specified in Section 7.01(c), the Trustee shall be the successor to such party, until such successor
to the Master Servicer or that Special Servicer, as applicable, is appointed as provided in this Section 7.02 or by the
Directing Holder as provided in Section 7.01(d), as applicable, in all respects in its capacity as Master Servicer or such
Special Servicer, as applicable, under this Agreement and the transactions set forth or provided for herein and shall be subject
to, and have the benefit of, all of the rights, (subject to Section 3.11 and Section 6.04) benefits, responsibilities,
duties, liabilities and limitations on liability relating thereto and that arise thereafter placed on or for the benefit of the
Master Servicer or the applicable Special Servicer, as applicable, by the terms and provisions hereof; provided, however,
that any failure to perform such duties or responsibilities caused by the terminated party’s failure under Section 7.01
to provide information or moneys required hereunder shall not be considered a

 

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default by such successor hereunder. The appointment of a successor master servicer shall not affect any liability
of the predecessor Master Servicer which may have arisen prior to its termination as Master Servicer, and the appointment of a
successor special servicer shall not affect any liability of the predecessor Special Servicer which may have arisen prior to its
termination as Special Servicer. The Trustee in its capacity as successor to the Master Servicer or a Special Servicer, as the
case may be, shall not be liable for any of the representations and warranties of the Master Servicer or the applicable Special
Servicer respectively, herein or in any related document or agreement, for any acts or omissions of the predecessor Master Servicer
or the applicable Special Servicer or for any losses incurred by the predecessor Master Servicer pursuant to Section 3.06
hereunder, nor shall the Trustee be required to purchase any Mortgage Loan or Trust Subordinate Companion Loan hereunder solely
as a result of its obligations as successor master servicer or special servicer, as the case may be. Subject to Section 3.11,
as compensation therefor, the Trustee as successor master servicer shall be entitled to the Servicing Fees and all fees relating
to the Mortgage Loans or the Companion Loans which the Master Servicer would have been entitled to if the Master Servicer had continued
to act hereunder, including but not limited to any income or other benefit from any Permitted Investment pursuant to Section
3.06, and subject to Section 3.11, and the Trustee as successor to such Special Servicer shall be entitled to the Special
Servicing Fees to which such Special Servicer would have been entitled if the applicable Special Servicer had continued to act
hereunder. Should the Trustee succeed to the capacity of the Master Servicer or such Special Servicer, as the case may be, the
Trustee shall be afforded the same standard of care and liability as the Master Servicer or such Special Servicer, as applicable,
hereunder notwithstanding anything in Section 8.01 to the contrary, but only with respect to actions taken by it in its
role as successor master servicer or successor special servicer, as the case may be, and not with respect to its role as Trustee
hereunder. Notwithstanding the above, the Trustee may, if it shall be unwilling to act as successor to the Master Servicer or the
applicable Special Servicer as applicable, or shall, if it is unable to so act, or if the Trustee is not approved as a servicer
by each Rating Agency, or if, prior to the occurrence and continuance of a Control Termination Event, the Directing Holder or the
Holders of Certificates evidencing at least (a) 25% of the Voting Rights in the case of the Master Servicer, (b) 25% of the Pooled
Voting Rights in the case of the Special Servicer (other than with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole
Loan), and (c) 25% of the Voting Rights in the case of the Special Servicer with respect to the AMA Plaza Whole Loan and 225 Bush
Street Whole Loan, so direct in writing to the Trustee, promptly appoint, or petition a court of competent jurisdiction to appoint,
any established mortgage loan servicing institution which meets the criteria set forth in Section 6.05 and otherwise herein,
as the successor to the Master Servicer or that Special Servicer, as applicable, hereunder in the assumption of all or any part
of the responsibilities, duties or liabilities of the Master Servicer or such Special Servicer hereunder. No appointment of a successor
to the Master Servicer or such Special Servicer hereunder shall be effective until (i) the assumption in writing by the successor
to the Master Servicer or such Special Servicer of all its responsibilities, duties and liabilities hereunder that arise thereafter,
(ii) upon receipt of Rating Agency Confirmation from each Rating Agency and confirmation of the applicable rating agencies that
such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25),
(iii) which appointment has been

 

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approved (prior to the occurrence and continuance of a Control Termination Event) by the Directing
Holder, such approval not to be unreasonably withheld and (iv) the Certificate Administrator shall have filed any required Form
8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have been completed with respect to any related Companion
Loan. Pending appointment of a successor to the Master Servicer or such Special Servicer hereunder, unless the Trustee shall be
prohibited by law from so acting, the Trustee shall act in such capacity as herein above provided. In connection with such appointment
and assumption of a successor to the Master Servicer or such Special Servicer as described herein, the Trustee may make such arrangements
for the compensation of such successor out of payments on the Mortgage Loans and the Trust Subordinate Companion Loans as it and
such successor shall agree; provided, however, that no such compensation with respect to a successor master servicer
or successor special servicer, as the case may be, shall be in excess of that permitted the terminated Master Servicer or Special
Servicer, as the case may be, hereunder. The Trustee, the Master Servicer or the applicable Special Servicer (whichever is not
the terminated party) and such successor shall take applicable action, consistent with this Agreement, as shall be necessary to
effectuate any such succession. Any costs and expenses associated with the transfer of the servicing function (other than with
respect to a termination without cause) under this Agreement shall be borne by the predecessor Master Servicer or Special Servicer,
as applicable. If such predecessor Master Servicer or Special Servicer (as the case may be) has not reimbursed the party requesting
such termination or the successor Master Servicer or Special Servicer for such expenses within 90 days after the presentation of
reasonable documentation, such expense shall be reimbursed by the Trust; provided that the terminated Master Servicer or
Special Servicer shall not thereby be relieved of its liability for such expenses. If and to the extent that the terminated Master
Servicer or Special Servicer has not reimbursed such costs and expenses, the party requesting such termination shall have an affirmative
obligation to take all reasonable actions to collect such expenses on behalf of the Trust. In the event of a termination without
cause, such costs and expenses shall be borne by the party requesting such termination, or as otherwise set forth herein; provided
that the Certificate Administrator and the Trustee shall not bear any such costs and expenses. For the avoidance of doubt, if the
Trustee is terminating the Master Servicer or the applicable Special Servicer in accordance with this Agreement at the direction
of any party or parties permitted to direct the Trustee to so terminate the Master Servicer or such Special Servicer pursuant to
this Agreement, the Trustee shall not have any liability for such expenses pursuant to this paragraph.

 

Section 7.03     Notification
to Certificateholders.  (a) Upon any resignation of the Master Servicer or the applicable Special Servicer pursuant
to Section 6.05, any termination of the Master Servicer or the applicable Special Servicer pursuant to Section 7.01
or any appointment of a successor to the Master Servicer or the applicable Special Servicer pursuant to Section 7.02,
the Certificate Administrator shall give prompt written notice thereof to Certificateholders at their respective addresses appearing
in the Certificate Register.

 

(b)       Not
later than the later of (i) sixty (60) days after the occurrence of any event which constitutes or, with notice or lapse of time
or both, would constitute a Servicer Termination Event and (ii) five (5) days after the Certificate Administrator would be deemed
to have notice of the occurrence of such an event in accordance with Section 8.02(vii), the Certificate Administrator shall
transmit by mail to the Depositor and all Certificateholders (and,

 

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if a Serviced Whole Loan is affected, the related Serviced Companion
Noteholder) notice of such occurrence, unless such default shall have been cured.

 

Section 7.04     Waiver
of Servicer Termination Events.  A Servicer Termination Event may be waived by the Certificateholders evidencing
not less than (a) 66-2/3% of the aggregate Voting Rights in case of the Master Servicer, (b) 66-2/3% of the Pooled Voting Rights
in the case of the Special Servicer (other than with respect to the AMA Plaza Whole Loan and 225 Bush Street Whole Loan) and (c)
66-2/3% of the Voting Rights in the case of the Special Servicer with respect to the AMA Plaza Whole Loan and 225 Bush Street
Whole Loan (and, if such Servicer Termination Event is on the part of the applicable Special Servicer with respect to a Serviced
Whole Loan only, by the related Serviced Companion Noteholder). Notwithstanding the foregoing, (1) a Servicer Termination Event
under clause (i) and clause (ii) of Section 7.01(a) may be waived only with the consent of all of the Certificateholders
of the affected Classes and any Serviced Companion Noteholder affected by such Servicer Termination Event, and (2) a Servicer
Termination Event under clause (iii) or clause (xi) of Section 7.01(a) related to Exchange Act reporting
may be waived only with the consent of the Depositor and any Serviced Companion Noteholder affected by such Servicer Termination
Event. Upon any such waiver of a Servicer Termination Event, such Servicer Termination Event shall cease to exist and shall be
deemed to have been remedied for every purpose hereunder. Upon any such waiver of a Servicer Termination Event by Certificateholders,
the Trustee and the Certificate Administrator shall be entitled to recover all costs and expenses incurred by it in connection
with enforcement action taken with respect to such Servicer Termination Event prior to such waiver from the Trust. No such waiver
shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon except to the extent
expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving any Servicer Termination
Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate of the Depositor
shall be entitled to the same Voting Rights with respect to the matters described above as they would if any other Person held
such Certificates.

 

Section 7.05     Trustee
as Maker of Advances. In the event that the Master Servicer fails to fulfill its obligations hereunder to make any Advances
and such failure remains uncured, the Trustee shall perform such obligations (x) within five (5) Business Days following such
failure by the Master Servicer with respect to Property Protection Advances resulting in a Servicer Termination Event under Section
7.01(a)(iii) hereof to the extent a Responsible Officer of the Trustee has actual knowledge of such failure with respect to
such Property Protection Advances and (y) by noon, New York City time, on the related Distribution Date with respect to P&I
Advances pursuant to the Certificate Administrator’s notice of failure pursuant to Section 4.03(a) unless such failure
has been cured. With respect to any such Advance made by the Trustee, the Trustee shall succeed to all of the Master Servicer’s
rights with respect to Advances hereunder, including, without limitation, the Master Servicer’s rights of reimbursement
and interest on each Advance at the Reimbursement Rate, and rights to determine that a proposed Advance is a Nonrecoverable P&I
Advance or Property Protection Advance, as the case may be, (without regard to any impairment of any such rights of reimbursement
caused by such Master Servicer’s default in its obligations hereunder); provided, however, that if Advances
made by the Trustee and the Master Servicer shall at any time be outstanding, or any interest on any Advance shall be accrued
and unpaid, all amounts available to repay such Advances and the interest thereon hereunder shall be applied entirely to the Advances

 

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outstanding to the Trustee, until such Advances shall have been repaid in full, together with all interest accrued thereon, prior
to reimbursement of the Master Servicer for such Advances. The Trustee shall be entitled to conclusively rely on any notice given
with respect to a Nonrecoverable Advance hereunder.

 

[End of Article VII]

 

Article
VIII

CONCERNING THE TRUSTEE AND THE CERTIFICATE ADMINISTRATOR

 

Section 8.01      Duties
of the Trustee and the Certificate Administrator.  (a) The Trustee and the Certificate Administrator, prior to the
occurrence of a Servicer Termination Event and after the curing or waiving of all Servicer Termination Events which may have occurred,
undertake to perform such duties and only such duties as are specifically set forth in this Agreement. If a Servicer Termination
Event occurs and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use
the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct
of his own affairs. Any permissive right of the Trustee and the Certificate Administrator contained in this Agreement shall not
be construed as a duty.

 

(b)       The
Trustee or the Certificate Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports, documents,
orders or other instruments furnished to the Trustee or the Certificate Administrator which are specifically required to be furnished
to the Trustee or the Certificate Administrator pursuant to any provision of this Agreement (other than the Mortgage Files, the
review of which is specifically governed by the terms of Article II), shall examine them to determine whether they conform
to the requirements of this Agreement. If any such instrument is found not to conform to the requirements of this Agreement in
a material manner, the Trustee or the Certificate Administrator shall notify the party providing such instrument and requesting
the correction thereof. The Trustee or the Certificate Administrator shall not be responsible for the accuracy or content of any
resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Depositor, the Master
Servicer or a Special Servicer or another Person, and accepted by the Trustee or the Certificate Administrator in good faith, pursuant
to this Agreement.

 

(c)       No
provision of this Agreement shall be construed to relieve the Trustee or the Certificate Administrator from liability for its own
negligent action, its own negligent failure to act or its own willful misconduct or bad faith; provided, however,
that:

 

(i)       Prior
to the occurrence of a Servicer Termination Event, and after the curing of all such Servicer Termination Events which may have
occurred, the duties and obligations of the Trustee and the Certificate Administrator shall be determined solely by the express
provisions of this Agreement, the Trustee and the Certificate Administrator shall not be liable except for the performance of such
duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read into
this Agreement against the Trustee and the Certificate Administrator and, in the absence of bad faith on the part of the Trustee
and the Certificate Administrator, the

 

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Trustee and the Certificate Administrator may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee or
the Certificate Administrator and conforming to the requirements of this Agreement;

 

(ii)        Neither
the Trustee nor the Certificate Administrator, as applicable, shall be liable for an error of judgment made in good faith by a
Responsible Officer or Responsible Officers of the Trustee or the Certificate Administrator, respectively, unless it shall be proved
that the Trustee or the Certificate Administrator, as applicable, was negligent in ascertaining the pertinent facts; and

 

(iii)       Neither
the Trustee nor the Certificate Administrator, as applicable, shall be liable with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with the direction of Holders of Certificates evidencing not less than 25% of the
Voting Rights entitled to direct the Trustee and/or Certificate Administrator pursuant to the terms of this Agreement, relating
to the time, method and place of conducting any proceeding for any remedy available to the Trustee or the Certificate Administrator,
or exercising any trust or power conferred upon the Trustee or the Certificate Administrator, under this Agreement (unless a higher
percentage of Voting Rights is required for such action).

 

(d)        The
Certificate Administrator shall make available via its internet website initially located at www.ctslink.com to the Serviced Companion
Noteholders all reports that the Certificate Administrator has made available to Certificateholders under this Agreement to the
extent such reports relate to the related Serviced Companion Loan and upon the submission of an Investor Certification pursuant
to this Agreement.

 

Section 8.02     Certain
Matters Affecting the Trustee and the Certificate Administrator.  Except as otherwise provided in Section 8.01:

 

(i)         The
Trustee and the Certificate Administrator may rely upon and shall be protected in acting or refraining from acting upon any resolution,
Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice,
request, consent, order, Appraisal, bond or other paper or document reasonably believed by it to be genuine and to have been signed
or presented by the proper party or parties;

 

(ii)         The
Trustee and the Certificate Administrator may consult with counsel and the advice of such counsel or any Opinion of Counsel shall
be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good
faith and in accordance therewith;

 

(iii)       Neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in it
by this Agreement or the Certificates or to make any investigation of matters arising hereunder or to institute, conduct or defend
any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to
the provisions of this Agreement,

 

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unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator,
as applicable, reasonable security or indemnity satisfactory to it, against the costs, expenses and liabilities which may be incurred
therein or thereby; neither the Trustee nor the Certificate Administrator shall be required to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights
or powers, if it shall have reasonable grounds for believing that repayment of such funds or reasonable indemnity satisfactory
to it against such risk or liability is not reasonably assured to it; nothing contained herein shall, however, relieve the Trustee
of the obligation, upon the occurrence of a Servicer Termination Event which has not been cured, to exercise such of the rights
and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs;

 

(iv)      Neither
the Trustee nor the Certificate Administrator shall be liable for any action reasonably taken, suffered or omitted by it in good
faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;

 

(v)       Prior
to the occurrence of a Servicer Termination Event hereunder and after the curing of all Servicer Termination Events which may have
occurred, neither the Trustee nor the Certificate Administrator shall be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond
or other paper or document, unless requested in writing to do so by Holders of Certificates entitled to more than 50% of the Voting
Rights; provided, however, that if the payment within a reasonable time to the Trustee or the Certificate Administrator
of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the
Trustee or the Certificate Administrator, respectively, not reasonably assured to the Trustee or the Certificate Administrator
by the security afforded to it by the terms of this Agreement, the Trustee or the Certificate Administrator, respectively, may
require reasonable indemnity satisfactory to it from such requesting Holders against such expense or liability as a condition to
taking any such action. The reasonable expense of every such reasonable examination shall be paid by the requesting Holders;

 

(vi)       The
Trustee or the Certificate Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys; provided, however, that the appointment of such agents or attorneys
shall not relieve the Trustee or the Certificate Administrator of its duties or obligations hereunder; provided, further,
that the Trustee or the Certificate Administrator, as the case may be, may not perform any duties hereunder through any Person
that is a Prohibited Party;

 

(vii)       For
all purposes under this Agreement, neither the Trustee nor the Certificate Administrator shall be deemed to have notice of any
Servicer Termination Event or Asset Representations Reviewer Termination Event or any act, failure or breach of any Person upon
the occurrence of which the Trustee or the Certificate Administrator

 

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may be required to act unless a Responsible Officer of the
Trustee or the Certificate Administrator, as applicable, has actual knowledge thereof or unless written notice of any event, act,
failure or breach which is in fact such a default is received by the Trustee or the Certificate Administrator at the respective
Corporate Trust Office, and such notice references the Certificates or this Agreement;

 

(viii)     Neither
the Trustee nor the Certificate Administrator shall be responsible for any act or omission of the Master Servicer or a Special
Servicer (unless the Trustee is acting as Master Servicer or a Special Servicer, as the case may be, in which case the Trustee
shall only be responsible for its own actions as Master Servicer or a Special Servicer), the Operating Advisor, the Asset Representations
Reviewer or of the Depositor;

 

(ix)       Neither
the Trustee nor the Certificate Administrator shall in any way be liable by reason of any insufficiency in the Trust Fund unless
it is determined by a court of competent jurisdiction that the Trustee’s or Certificate Administrator’s, as applicable,
negligence or willful misconduct was the primary cause of such insufficiency;

 

(x)        In
no event shall the Certificate Administrator or Trustee be liable for any failure or delay in the performance of its obligations
hereunder because of circumstances beyond the Certificate Administrator’s or Trustee’s control, including, but not
limited to force majeure or acts of God;

 

(xi)       Except
as otherwise expressly set forth in this Agreement, Wells Fargo Bank, National Association acting in any particular capacity hereunder
will not be deemed to be imputed with knowledge of (a) Wells Fargo Bank, National Association, acting in a capacity that is unrelated
to the transactions contemplated by this Agreement, or (b) Wells Fargo Bank, National Association, acting in any other capacity
hereunder, except, in the case of either clause (a) or clause (b), where some or all of the obligations performed in such capacities
are performed by one or more employees within the same group or division of Wells Fargo Bank, National Association, or where the
groups or divisions responsible for performing the obligations in such capacities have one or more of the same Responsible Officers;
provided, however, the knowledge of employees performing special servicing functions shall not be imputed to employees performing
master servicing functions, and the knowledge of employees performing master servicing functions shall not be imputed to employees
performing special servicing functions;

 

(xii)       Nothing
herein shall require the Trustee or the Certificate Administrator to act in any manner that is contrary to applicable law; and

 

(xiii)       Nothing
herein shall be construed as an obligation of the parties to this Agreement to advise the Certificateholders with respect to their
rights and protections relative to the Trust.

 

Each of the
Trustee and the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities
afforded to it as Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including,

 

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without limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider and Authenticating Agent).

 

Section 8.03     Trustee
and Certificate Administrator Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans or the Trust Subordinate
Companion Loans.  The recitals contained herein and in the Certificates, other than the acknowledgments of the Trustee
or the Certificate Administrator in Sections 2.02 and 2.04 and the signature, if any, of the Certificate Registrar
and Authenticating Agent set forth on any outstanding Certificate, shall be taken as the statements of the Depositor, the Master
Servicer or the applicable Special Servicer, as the case may be, and the Trustee or the Certificate Administrator assume no responsibility
for their correctness. Neither the Trustee nor the Certificate Administrator makes any representations as to the validity or sufficiency
of this Agreement or of any Certificate (other than as to the signature, if any, of the Trustee or the Certificate Administrator
set forth thereon) or of any Mortgage Loan or of the Trust Subordinate Companion Loan or related document. Neither the Trustee
nor the Certificate Administrator shall be accountable for the use or application by the Depositor of any of the Certificates
issued to it or of the proceeds of such Certificates, or for the use or application of any funds paid to the Depositor in respect
of the assignment of the Mortgage Loans and the Trust Subordinate Companion Loans to the Trust, or any funds deposited in or withdrawn
from the Collection Account or any other account by or on behalf of the Depositor, the Master Servicer, the applicable Special
Servicer or in the case of the Trustee, the Certificate Administrator. The Trustee and the Certificate Administrator shall not
be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other
instrument furnished by the Depositor, the Master Servicer or the Special Servicers and accepted by the Trustee or the Certificate
Administrator, in good faith, pursuant to this Agreement.

 

Section 8.04     Trustee
or Certificate Administrator May Own Certificates.  The Trustee or the Certificate Administrator, each in its individual
capacity, not as Trustee or Certificate Administrator, may become the owner or pledgee of Certificates, and may deal with the
Depositor, the Master Servicer, any Special Servicer or the Underwriters in banking transactions, with the same rights it would
have if it were not Trustee or the Certificate Administrator.

 

Section 8.05     Fees
and Expenses of Trustee and Certificate Administrator; Indemnification of Trustee and Certificate Administrator.  (a)
As compensation for the performance of their respective duties hereunder, the Trustee will be paid the Trustee Fee, which shall
cover recurring and otherwise reasonably anticipated expenses of the Trustee, and the Certificate Administrator will be paid the
Certificate Administrator/Trustee Fee equal to the Certificate Administrator’s portion of one month’s interest at
the Certificate Administrator/Trustee Fee Rate, which shall cover recurring and otherwise reasonably anticipated expenses of the
Certificate Administrator. The Trustee Fee and Certificate Administrator/Trustee Fee shall be paid monthly on a Mortgage Loan-by-Mortgage
Loan (or Trust Subordinate Companion Loan-by-Trust Subordinate Companion Loan, if applicable) basis. As to each Mortgage Loan,
the Trust Subordinate Companion Loan and REO Loan (other than the portion of an REO Loan related to any Companion Loan), the Certificate
Administrator shall pay to the Trustee monthly the Trustee Fee from the Certificate Administrator/Trustee Fee, which Certificate
Administrator/Trustee Fee shall accrue from time to time at the Certificate

 

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Administrator/Trustee Fee Rate and the Certificate
Administrator/Trustee Fee shall be computed on the basis of the Stated Principal Balance of such Mortgage Loan or Trust Subordinate
Companion Loan, as applicable, and a 360-day year consisting of twelve 30-day months. The Trustee Fee (which shall not be limited
to any provision of law in regard to the compensation of a trustee of an express trust) shall constitute the Trustee’s sole
form of compensation for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance
of any of the powers, rights and duties of the Trustee hereunder, except for the reimbursement of expenses specifically provided
for herein. The Certificate Administrator/Trustee Fee shall constitute the Certificate Administrator’s sole form of compensation
for the exercise and performance of its powers and duties hereunder, except for the reimbursement of expenses specifically provided
for herein. No Trustee Fee or Certificate Administrator/Trustee Fee shall be payable with respect to any Companion Loan.

 

(b)       The
Trustee, the Certificate Administrator (in each case, including in its capacity as Custodian and in its individual capacity) and
any director, officer, employee, representative or agent of the Trustee and the Certificate Administrator, respectively, shall
be entitled to be indemnified and held harmless by the Trust (to the extent of amounts on deposit in the Collection Account or
the Lower-Tier REMIC Distribution Account or the Trust Subordinate Companion Loan REMIC Distribution Accounts, as applicable, from
time to time) against any loss, liability or expense (including, without limitation, costs and expenses of litigation, and of investigation,
counsel fees, damages, judgments and amounts paid in settlement, and expenses incurred in becoming successor master servicer or
successor special servicer, to the extent not otherwise paid hereunder) arising out of, or incurred in connection with, any act
or omission of the Trustee or the Certificate Administrator, respectively, relating to the exercise and performance of any of the
powers and duties of the Trustee or the Certificate Administrator, respectively, hereunder; provided, however, that
none of the Trustee or the Certificate Administrator, nor any of the other above specified Persons shall be entitled to indemnification
pursuant to this Section 8.05(b) for (i) allocable overhead, (ii) expenses or disbursements incurred or made by or on behalf
of the Trustee or the Certificate Administrator, respectively, in the normal course of the Trustee or the Certificate Administrator,
respectively, performing its duties in accordance with any of the provisions hereof, which are not “unanticipated expenses
of the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii), (iii) any expense or liability specifically
required to be borne thereby pursuant to the terms hereof or (iv) any loss, liability or expense incurred by reason of willful
misconduct, bad faith or negligence in the performance of the Trustee’s or the Certificate Administrator’s, respectively,
obligations and duties hereunder, or by reason of negligent disregard of such obligations or duties, or as may arise from a breach
of any representation or warranty of the Trustee specified in Section 8.12 or the Certificate Administrator specified in
Section 8.14, respectively, made herein. The provisions of this Section 8.05(b) shall survive the termination of
this Agreement and any resignation or removal of the Trustee or the Certificate Administrator, respectively, and appointment of
a successor thereto. The foregoing indemnity shall also apply to the Certificate Administrator in its capacities of Custodian,
Certificate Registrar and Authenticating Agent.

 

(c)       The
Certificate Administrator shall indemnify and hold harmless the Depositor and the Mortgage Loan Seller from and against any claims,
losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses
incurred by the Depositor, the Mortgage Loan Seller or its Affiliates that arise out of or

 

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are based upon (i) a breach by the Certificate
Administrator, in its capacity as 17g-5 Information Provider or in any other capacity in which the Certificate Administrator is
required to provide information to a Privileged Person that is an NRSRO, of its obligations under this Agreement or (ii) negligence,
bad faith or willful misconduct on the part of the Certificate Administrator, in its capacity as 17g-5 Information Provider or
in any other capacity in which the Certificate Administrator is required to provide information to a Privileged Person that is
an NRSRO, in the performance of such obligations or its negligent disregard of its obligations and duties under this Agreement.

 

Section 8.06     Eligibility
Requirements for Trustee and Certificate Administrator.   Each of the Trustee and the Certificate Administrator hereunder shall
at all times be, and will be required to resign if it fails to be, (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 under this Agreement, having a combined capital
and surplus of at least $100,000,000 and subject to supervision or examination by federal or state authority and in the case of
the Trustee, shall not be an Affiliate of the Master Servicer or any Special Servicer (except during any period when the Trustee
is acting as, or has become successor to, the Master Servicer or the applicable Special Servicer, as the case may be, pursuant
to Section 7.02), (ii) an institution insured by the Federal Deposit Insurance Corporation, (iii) an institution whose
long-term senior unsecured debt is rated at least “A” by S&P, “A2” by Moody’s and “A”
by Fitch; provided that the Trustee will not become ineligible to serve based on a failure to satisfy such rating requirements
as long as (a) it maintains a long-term unsecured debt rating of no less than “Baa2” by Moody’s, “A-”
by Fitch and “A-” by S&P, (b) its short-term debt obligations have a short-term rating of not less than “P-2”
from Moody’s, “F1” by Fitch and “A-2” by S&P and (c) the Master Servicer maintains a rating
of at least “A2” by Moody’s and “A+” by Fitch, or such other rating with respect to which the Rating
Agencies have provided a Rating Agency Confirmation; and (iv) an entity that is not a Prohibited Party.

 

If such corporation,
national bank or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements
of the aforesaid supervising or examining authority, then for the purposes of this Section 8.06 the combined capital and
surplus of such corporation, national bank or national banking association shall be deemed to be its combined capital and surplus
as set forth in its most recent report of condition so published. In the event the place of business from which the Certificate
Administrator administers the Trust REMICs or in which the Trustee’s office is located is in a state or local jurisdiction
that imposes a tax on the Trust on the net income of a REMIC (other than a tax corresponding to a tax imposed under the REMIC Provisions),
the Certificate Administrator or the Trustee, as applicable, shall elect either to (i) resign immediately in the manner and with
the effect specified in Section 8.07, (ii) pay such tax at no expense to the Trust or (iii) administer the Trust REMICs
from a state and local jurisdiction that does not impose such a tax.

 

Section 8.07     Resignation
and Removal of the Trustee and Certificate Administrator.  (a) The Trustee and the Certificate Administrator may
at any time resign and be discharged from the trusts hereby created by giving 30 days’ prior written notice thereof to the
Depositor, the Master Servicer, each Special Servicer, the Trustee or the Certificate Administrator, as applicable, the Operating
Advisor, the Asset Representations Reviewer, 17g-5

 

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Information Provider and to all Certificateholders. The Certificate Administrator
shall post such notice to the Certificate Administrator’s Website in accordance with Section 3.13(b) and provide
notice of such event to the Master Servicer, each Special Servicer, the Depositor and the 17g-5 Information Provider, which shall
promptly post such notice to the 17g-5 Information Provider’s Website in accordance with Section 3.13(c). Upon receiving
such notice of resignation, the Depositor shall use its reasonable best efforts to promptly appoint a successor trustee or certificate
administrator by written instrument, in duplicate, which instrument shall be delivered to the resigning Trustee or Certificate
Administrator and to the successor trustee or certificate administrator. A copy of such instrument shall be delivered to the Master
Servicer, each Special Servicer, the Certificateholders and the Trustee or Certificate Administrator, as applicable, by the Depositor.
If no successor trustee or certificate administrator shall have been so appointed and have accepted appointment within one hundred
and twenty (120) days after the giving of such notice of resignation, the resigning Trustee or Certificate Administrator may petition
any court of competent jurisdiction for the appointment of a successor trustee or certificate administrator, as applicable, and
any expenses associated with such petition shall be an expense of the Trust.

 

(b)       If
at any time the Trustee or Certificate Administrator shall cease to be eligible in accordance with the provisions of Section
8.06 (and in the case of the Certificate Administrator, Section 5.08) and shall fail to resign after written request
therefor by the Depositor or the Master Servicer, or if at any time the Trustee or Certificate Administrator shall become incapable
of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or the Certificate Administrator or of its
property shall be appointed, or any public officer shall take charge or control of the Trustee or Certificate Administrator or
of its property or affairs for the purpose of rehabilitation, conservation or liquidation, or if the Trustee or Certificate Administrator
(if different than the Trustee) shall fail (other than by reason of the failure of either the Master Servicer or the applicable
Special Servicer to timely perform its obligations hereunder or as a result of other circumstances beyond the Trustee’s or
Certificate Administrator’s, as applicable, reasonable control), to timely publish any report to be delivered, published
or otherwise made available by the Certificate Administrator pursuant to Section 4.02 and such failure shall continue unremedied
for a period of five (5) days, or if the Certificate Administrator fails to make distributions required pursuant to Section
4.01 or Section 9.01, then the Depositor may remove the Trustee or Certificate Administrator, as applicable, and appoint
a successor trustee or certificate administrator reasonably acceptable to the Master Servicer, by written instrument, in duplicate,
which instrument shall be delivered to the Trustee or Certificate Administrator so removed and to the successor trustee or certificate
administrator in the case of the removal of the Trustee or Certificate Administrator. A copy of such instrument shall be delivered
to the Master Servicer, each Special Servicer and the Certificateholders by the Depositor.

 

(c)       The
Holders of Certificates entitled to at least 50% of the Voting Rights may at any time upon 30 days written notice, with or without
cause, remove the Trustee or Certificate Administrator and appoint a successor trustee or certificate administrator by written
instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of
which instruments shall be delivered to the Master Servicer, one complete set to the Trustee or Certificate Administrator so removed
and one complete set to the successor so appointed. A copy of such instrument shall be delivered to the Depositor, each Special
Servicer and the remaining Certificateholders by the Master Servicer. In the event of any

 

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such termination without cause pursuant
to this Section 8.07(c), the successor trustee or certificate administrator, as applicable, shall be responsible for all
costs and expenses necessary to effect the transfer of responsibilities from its predecessor.

 

(d)       Any
resignation or removal of the Trustee or Certificate Administrator and appointment of a successor trustee or certificate administrator
pursuant to any of the provisions of this Section 8.07 shall not become effective until (i) acceptance of appointment by
the successor trustee or certificate administrator as provided in Section 8.08 and (ii) the Certificate Administrator shall
have filed any required Form 8-K pursuant to Section 11.07 hereof and any other Form 8-K filings have been completed with
respect to any related Companion Loan.

 

If the same
party is acting as Trustee and Certificate Administrator pursuant to this Agreement, any removal of either such party in its capacity
as Trustee or Certificate Administrator, as applicable, shall also result in such party’s removal in its capacity as Trustee
or Certificate Administrator, as applicable, and the Depositor shall appoint a successor certificate administrator and a successor
trustee, in each instance meeting the eligibility requirements set forth hereunder.

 

Upon any succession
of the Trustee or Certificate Administrator under this Agreement, the predecessor Trustee or Certificate Administrator shall be
entitled to the payment of accrued and unpaid compensation and reimbursement as provided for under this Agreement for services
rendered and expenses incurred (including without limitation, unreimbursed Advances). No Trustee or Certificate Administrator shall
be personally liable for any action or omission of any successor trustee or certificate administrator.

 

(e)       Upon
the resignation, assignment, merger, consolidation, or transfer of the Trustee or its business to a successor, or upon the termination
of the Trustee, (a) the outgoing Trustee shall (i) endorse the original executed Mortgage Note for each Mortgage Loan (and the
related Trust Subordinate Companion Loan, if applicable) (to the extent that the original executed Mortgage Note for each Mortgage
Loan (and the related Trust Subordinate Companion Loan, if applicable) was endorsed to the outgoing trustee), without recourse,
representation or warranty, express or implied, to the order of the successor, as trustee for the registered Holders of GS Mortgage
Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 or in blank, and (ii) in the case of
the other assignable Mortgage Loan documents (to the extent such other Mortgage Loan documents were assigned to the outgoing trustee),
assign such Mortgage Loan documents to such successor, and such successor shall review the documents delivered to it or to the
Custodian with respect to each Mortgage Loan (and the related Trust Subordinate Companion Loan, if applicable), and certify in
writing that, as to each Mortgage Loan (and the related Trust Subordinate Companion Loan, if applicable) then subject to this Agreement,
such endorsement and assignment has been made; (b) if any original executed Mortgage Note for a Mortgage Loan (or the related Trust
Subordinate Companion Loan, as applicable) was not endorsed to the outgoing trustee, the Custodian shall, upon its receipt of a
Request for Release, deliver such Mortgage Note to the Depositor or the successor trustee, as requested, and the Master Servicer
and the Depositor shall cooperate with any successor Trustee to ensure that such Mortgage Note is endorsed (without recourse, representation
or warranty, express or implied) to the order of the successor, as trustee for the registered Holders of GS Mortgage Securities
Corporation II, Commercial Mortgage Pass-

 

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Through Certificates, Series 2016-GS4 or in blank; provided, however, that,
notwithstanding anything to the contrary herein, to the extent any such endorsement of such Mortgage Note requires the signature
of the Mortgage Loan Seller in order to comply with the foregoing, then the Master Servicer shall use reasonable efforts to cause
the Mortgage Loan Seller to execute such endorsement; (c) if any other assignable Mortgage Loan or Trust Subordinate Companion
Loan document was not assigned to the outgoing trustee, the Custodian shall, upon its receipt of a Request for Release, deliver
such Loan or Trust Subordinate Companion Mortgage Loan document to the Depositor or the successor trustee, as requested, and the
Master Servicer and the Depositor shall cooperate with any successor Trustee to ensure that such Mortgage Loan or Trust Subordinate
Companion Loan document is assigned to such successor Trustee; and (d) in any case, such successor Trustee shall review the documents
delivered to it or to the Custodian with respect to each Mortgage Loan (and the related Trust Subordinate Companion Loan, if applicable),
and certify in writing that, as to each Mortgage Loan (and the related Trust Subordinate Companion Loan, if applicable) then subject
to this Agreement, such endorsements and assignments have been made or, in the event such endorsement or assignment cannot be made
for any reason, to note the same in such certification.

 

(f)       Neither
the Asset Representations Reviewer nor any of its Affiliates may be appointed as successor trustee or certificate administrator.

 

Section 8.08     Successor
Trustee or Certificate Administrator.  (a) Any successor trustee or certificate administrator appointed as provided
in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Master Servicer, each Special Servicer and
to its predecessor Trustee or Certificate Administrator an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor Trustee or Certificate Administrator shall become effective and such successor trustee
or certificate administrator without any further act, deed or conveyance, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor hereunder, with the like effect as if originally named as Trustee or Certificate Administrator
herein. The predecessor Trustee shall deliver to the successor trustee all Mortgage Files and related documents and statements
held by it hereunder (other than any Mortgage Files at the time held on its behalf by a Custodian, which Custodian, at Custodian’s
option shall become the agent of the successor trustee), and the Depositor, the Master Servicer, the applicable Special Servicer
and the predecessor Trustee shall execute and deliver such instruments and do such other things as may reasonably be required
to more fully and certainly vest and confirm in the successor trustee all such rights, powers, duties and obligations, and to
enable the successor trustee to perform its obligations hereunder.

 

(b)       No
successor trustee or successor certificate administrator shall, as applicable, accept appointment as provided in this Section
8.08 unless at the time of such acceptance such successor trustee or successor certificate administrator, as applicable,
shall be eligible under the provisions of Section 8.06.

 

(c)       Upon
acceptance of appointment by a successor trustee or successor certificate administrator as provided in this Section 8.08,
the Master Servicer shall deliver notice of the succession of such Trustee or Certificate Administrator, as applicable, to the
Depositor and the Certificateholders. If the Master Servicer fails to deliver such notice within ten (10) days after acceptance
of appointment by the successor trustee or successor certificate administrator, as

 

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applicable, such successor trustee or successor
certificate administrator shall cause such notice to be delivered at the expense of the Master Servicer.

 

Section 8.09     Merger
or Consolidation of Trustee or Certificate Administrator.  Any Person into which the Trustee or the Certificate
Administrator may be merged or converted or with which it may be consolidated or any Person resulting from any merger, conversion
or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any Person succeeding to all or substantially
all of the corporate trust business of the Trustee or the Certificate Administrator shall be the successor of the Trustee or the
Certificate Administrator, as applicable, hereunder; provided that, in the case of the Trustee, such successor person shall
be eligible under the provisions of Section 8.06, without the execution or filing of any paper or any further act on the
part of any of the parties hereto, anything herein to the contrary notwithstanding. The Certificate Administrator shall post such
notice to the Certificate Administrator’s Website in accordance with Section 3.13(b) and shall provide notice of
such event to the Master Servicer, each Special Servicer, the Depositor and the 17g-5 Information Provider, which shall post such
notice to the 17g-5 Information Provider’s Website in accordance with Section 3.13(c).

 

Section 8.10     Appointment
of Co-Trustee or Separate Trustee.  (a) Notwithstanding any other provisions hereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction
in which any part of the Trust Fund or property securing the same may at the time be located, the Master Servicer and the Trustee
acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the
Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or separate trustee or separate trustees, of all or any
part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust, or any part thereof,
and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the Master
Servicer and the Trustee may consider necessary or desirable. If the Master Servicer shall not have joined in such appointment
within fifteen (15) days after the receipt by it of a request to do so, or in case a Servicer Termination Event shall have occurred
and be continuing, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder
shall be required to meet the terms of eligibility as a successor trustee under Section 8.06 hereunder and no notice to
Holders of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 8.08
hereof. All co-trustee fees shall be payable out of the Trust Fund.

 

(b)       In
the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10, all rights, powers, duties
and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee
and such separate trustee or co-trustee jointly, except to the extent that under any law of any jurisdiction in which any particular
act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer or a Special Servicer hereunder),
the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust or any portion thereof in any such jurisdiction) shall be exercised and performed
by such separate trustee or co-trustee at the direction of the Trustee.

 

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(c)       Any
notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then-separate trustees
and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall
refer to this Agreement and the conditions of this Article VIII. Each separate trustee and co-trustee, upon its acceptance
of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly
with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including
every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Trustee.
Every such instrument shall be filed with the Trustee.

 

(d)       Any
separate trustee or co-trustee may, at any time, constitute the Trustee, its agent or attorney-in-fact, with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.
If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties,
rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment
of a new or successor trustee.

 

(e)       The
appointment of a co-trustee or separate trustee under this Section 8.10 shall not relieve the Trustee of its duties and
responsibilities hereunder.

 

Section 8.11     Appointment
of Custodians.  The Certificate Administrator is hereby appointed as the Custodian to hold all or a portion of the
Mortgage Files. The Custodian shall be a depository institution subject to supervision by federal or state authority, shall have
combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the jurisdiction in which it holds
any Mortgage File. The Custodian shall be subject to the same obligations and standard of care as would be imposed on the Certificate
Administrator hereunder in connection with the retention of Mortgage Files directly by the Certificate Administrator. Upon termination
or resignation of the Custodian, the Certificate Administrator may appoint another Custodian meeting the foregoing requirements.
The appointment of one or more Custodians by the Certificate Administrator shall not relieve the Certificate Administrator from
any of its obligations hereunder, and the Certificate Administrator shall remain responsible for all acts and omissions of any
Custodian other than the initial Custodian. Any Custodian appointed hereunder must maintain a fidelity bond and errors and omissions
policy in an amount customary for Custodians which serve in such capacity in commercial mortgage loan securitization transactions,
or may self-insure.

 

Section 8.12     Representations
and Warranties of the Trustee.  The Trustee hereby represents and warrants to the Depositor, the Master Servicer,
each Special Servicer, the Operating Advisor, the Asset Representations Reviewer, each Serviced Companion Noteholder and the Certificate
Administrator for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)       The
Trustee is a national banking association, duly organized, validly existing and in good standing under the laws of the United States
of America;

 

(ii)       The
execution and delivery of this Agreement by the Trustee, and the performance and compliance with the terms of this Agreement by
the Trustee, will not

 

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violate the Trustee’s charter and by-laws or constitute a default (or an event which, with notice or
lapse of time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument
to which it is a party or which is applicable to it or any of its assets;

 

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

 

(iv)       This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal and
binding obligation of the Trustee, enforceable against the Trustee in accordance with the terms hereof, subject to (a) applicable
bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors’ rights generally
and the rights of creditors of national banking associations specifically and (b) general principles of equity, regardless of whether
such enforcement is considered in a proceeding in equity or at law;

 

(v)       The
Trustee is not in violation of, and its execution and delivery of this Agreement and its performance and compliance with the terms
of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation
or demand of any federal, state or local governmental or regulatory authority, which violation, in the Trustee’s good faith
and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations under
this Agreement;

 

(vi)       No
litigation is pending or, to the best of the Trustee’s knowledge, threatened against the Trustee which would prohibit the
Trustee from entering into this Agreement or, in the Trustee’s good faith and reasonable judgment, is likely to materially
and adversely affect the ability of the Trustee to perform its obligations under this Agreement; and

 

(vii)       No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and
performance by the Trustee, or compliance by the Trustee with, this Agreement or the consummation of the transactions contemplated
by this Agreement, except for any consent, approval, authorization or order which has not been obtained or cannot be obtained prior
to the actual performance by the Trustee of its obligations under this Agreement, and which, if not obtained would not have a materially
adverse effect on the ability of the Trustee to perform its obligations hereunder.

 

Section 8.13     Provision
of Information to Certificate Administrator, Master Servicer and Special Servicers.  The Master Servicer shall promptly,
upon request, provide the applicable Special Servicer and the Certificate Administrator with notice of any change in the identity
and/or contact information of any Serviced Companion Noteholder (to the extent it receives written notice of such change). The
Certificate Administrator, Master Servicer and the Special Servicers may each conclusively rely on the information provided to
them regarding

 

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identity and/or contact information regarding any Serviced Companion Noteholder, and the Certificate
Administrator, Master Servicer and the Special Servicers, as applicable, shall have no liability for notices not sent to the correct
Serviced Companion Noteholders or any obligation to determine the identity and/or contact information of the Serviced Companion
Noteholders to the extent updated or correct information regarding the holders of any of the Serviced Companion Noteholders or
the most recent identity and/or contact information regarding any of the Serviced Companion Noteholders has not been provided to
the Certificate Administrator, Master Servicer or the Special Servicers, as applicable.

 

The Certificate
Administrator shall promptly notify the Master Servicer and applicable Special Servicer of any change in the identity and/or contact
information of the Loan-Specific Directing Holder (to the extent it receives written notice of such change). The Master Servicer
and applicable Special Servicer may each conclusively rely on the information provided to them by the Certificate Administrator
regarding identity and/or contact information regarding the Loan-Specific Directing Holder unless the Master Servicer or the applicable
Special Servicer, as applicable, obtains written notice of the correct identity and/or contact information for such Loan-Specific
Directing Holder and the Master Servicer and applicable Special Servicer, as applicable, shall have no liability for notices not
sent to the correct Loan-Specific Directing Holder or any obligation to determine the identity and/or contact information of Loan-Specific
Directing Holder to the extent the Certificate Administrator has not provided updated or correct information regarding such Loan-Specific
Directing Holder or has not provided the most recent identity and/or contact information regarding such Loan-Specific Directing
Holders to the Master Servicer or applicable Special Servicer, as applicable.

 

Section 8.14     Representations
and Warranties of the Certificate Administrator.  The Certificate Administrator hereby represents and warrants to
the Depositor, the Master Servicer, each Special Servicer, the Operating Advisor, the Asset Representations Reviewer, each Serviced
Companion Noteholder, and the Trustee, for the benefit of the Certificateholders, as of the Closing Date, that:

 

(i)        The
Certificate Administrator is a national banking association duly organized under the laws of the United States of America, duly
organized, validly existing and in good standing under the laws thereof;

 

(ii)       The
execution and delivery of this Agreement by the Certificate Administrator, and the performance and compliance with the terms of
this Agreement by the Certificate Administrator, will not violate the Certificate Administrator’s charter and by-laws or
constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in
the breach of, any material agreement or other instrument to which it is a party or which is applicable to it or any of its assets;

 

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

 

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(iv)       This
Agreement, assuming due authorization, execution and delivery by each of the other parties hereto, constitutes a valid, legal and
binding obligation of the Certificate Administrator, enforceable against the Certificate Administrator in accordance with the terms
hereof, subject to (a) applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of
creditors’ rights generally and the rights of creditors of national banking associations specifically and (b) general principles
of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)        The
Certificate Administrator is not in violation of, and its execution and delivery of this Agreement and its performance and compliance
with the terms of this Agreement will not constitute a violation of, any law, any order or decree of any court or arbiter, or any
order, regulation or demand of any federal, state or local governmental or regulatory authority, which violation, in the Certificate
Administrator’s good faith and reasonable judgment, is likely to affect materially and adversely either the ability of the
Certificate Administrator to perform its obligations under this Agreement or the financial condition of the Certificate Administrator;

 

(vi)       No
litigation is pending or, to the best of the Certificate Administrator’s knowledge, threatened against the Certificate Administrator
which would prohibit the Certificate Administrator from entering into this Agreement or, in the Certificate Administrator’s
good faith and reasonable judgment, is likely to materially and adversely affect either the ability of the Certificate Administrator
to perform its obligations under this Agreement or the financial condition of the Certificate Administrator; and

 

(vii)       No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and
performance by the Certificate Administrator, or compliance by the Certificate Administrator with, this Agreement or the consummation
of the transactions contemplated by this Agreement, except for any consent, approval, authorization or order which has not been
obtained or cannot be obtained prior to the actual performance by the Certificate Administrator of its obligations under this Agreement,
and which, if not obtained would not have a materially adverse effect on the ability of the Certificate Administrator to perform
its obligations hereunder.

 

Section 8.15     Compliance
with the PATRIOT Act.  In order to comply with the laws, rules, regulations and executive orders in effect from
time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering
(“Applicable Laws”), each of the Trustee, the Certificate Administrator, the Special Servicers and the Master
Servicer is required to obtain, verify and record certain information relating to individuals and entities which maintain a business
relationship with the Trustee, the Certificate Administrator, the Special Servicers or the Master Servicer, as applicable. Accordingly,
each of the parties to this Agreement agrees to provide to the Trustee, the Certificate Administrator, each Special Servicer and
the Master Servicer, upon its respective reasonable request from time to time such identifying information and documentation as
may be available for such party in order to enable the Trustee, the Certificate Administrator, each Special Servicer and the Master
Servicer to comply with Applicable Laws.

 

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[End of Article VIII]

 

Article
IX

TERMINATION

 

Section 9.01     Termination
upon Repurchase or Liquidation of All Mortgage Loans. Subject to this Section 9.01 and Section 9.02, the
Trust and the respective obligations and responsibilities under this Agreement of the Certificate Administrator (other than the
obligations of the Certificate Administrator to provide for and make payments to Certificateholders as hereafter set forth), the
Depositor, the Master Servicer, the Special Servicers, the Operating Advisor, the Asset Representations Reviewer and the Trustee,
shall terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by the Certificate Administrator
and required hereunder to be so paid on the Distribution Date following the earlier to occur of (i) the final payment (or related
Advance) or other liquidation of the last Mortgage Loan, Trust Subordinate Companion Loan and REO Property (as applicable) subject
hereto, (ii) the purchase or other liquidation by the Holders of the majority of the Controlling Class, the applicable Special
Servicer, the Master Servicer or the Holders of the Class R Certificates representing greater than 50% of the Percentage Interest
of such class, in that order of priority, of all the Mortgage Loans, the Trust Subordinate Companion Loan and the Trust’s
portion of each REO Property, remaining in the Trust Fund at a price equal to (a) the sum of (1) the aggregate Purchase Price
of all the Mortgage Loans and the Trust Subordinate Companion Loans (exclusive of REO Loans) included in the Trust Fund, (2) the
Appraised Value of the Trust’s portion of each REO Property, if any, included in the Trust Fund (such Appraisals in clause
(a)(2) to be conducted by an Independent MAI-designated appraiser selected by the Master Servicer, and approved by more than
50% of the Voting Rights of the Classes of Certificates then outstanding (other than the Controlling Class unless the Controlling
Class is the only Class of Certificates then outstanding)) (which approval shall be deemed given unless more than 50% of such
Certificateholders object within twenty (20) days of receipt of notice thereof), (3) the reasonable out-of-pocket expenses of
the Master Servicer with respect to such termination, unless the Master Servicer is the purchaser of such Mortgage Loans or Trust
Subordinate Companion Loan and (4) if a Mortgaged Property secures a Non-Serviced Mortgage Loan and is an “REO property”
under the terms of the related Non-Serviced Pooling Agreement, the pro rata portion of the fair market value of the related Mortgaged
Property, as determined by the related Non-Serviced Master Servicer in accordance with clauses (2) and (3) above, minus
(b) solely in the case where the Master Servicer is exercising such purchase right, the aggregate amount of unreimbursed Advances,
together with any interest accrued and payable to the Master Servicer in respect of such Advances in accordance with Sections
3.03(d) and 4.03(d) and any unpaid Servicing Fees, remaining outstanding and payable solely to the Master Servicer
(which items shall be deemed to have been paid or reimbursed to the Master Servicer in connection with such purchase) or (iii)
so long as the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates
are no longer outstanding and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero, the voluntary exchange by the Sole Certificateholder of all the outstanding Certificates (other than Class R Certificates)
for the remaining Mortgage Loans, Trust Subordinate Companion Loan and REO Properties in the Trust Fund pursuant to the terms
of the

 

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immediately succeeding paragraph; provided, however, that in no event shall
the trust created hereby continue beyond the expiration of twenty-one (21) years from the death of the last survivor of the descendants
of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James’s, living on the date hereof.

 

Following the
date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates
are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided
that there is only one Holder (or multiple Holders acting in unanimity) of the then outstanding Certificates (other than the Class
R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to
(i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the
Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii)
360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loan and each REO Property remaining in the Trust Fund as contemplated by clause (iii) of the first paragraph
of this Section 9.01 by giving written notice to all the parties hereto no later than sixty (60) days prior to the anticipated
date of exchange. In the event that the Sole Certificateholder elects to exchange all of its Certificates (other than the Loan-Specific
Certificates and Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loan and the Trust’s
portion of each REO Property remaining in the Trust in accordance with the preceding sentence, such Sole Certificateholder, not
later than the Distribution Date on which the final distribution on the Certificates is to occur, shall deposit in the Collection
Account an amount in immediately available funds equal to all amounts due and owing to the Depositor, the Master Servicer, the
Special Servicers, the Trustee and the Certificate Administrator hereunder through the date of the liquidation of the Trust that
may be withdrawn from the Collection Account, or an escrow account acceptable to the respective parties hereto, pursuant to Section
3.05(a) or that may be withdrawn from the Distribution Account pursuant to Section 3.05(a), but only to the extent that
such amounts are not already on deposit in the Collection Account. In addition, the Master Servicer shall transfer all amounts
required to be transferred to the Lower-Tier REMIC Distribution Account and Excess Interest Distribution Account on the Master
Servicer Remittance Date related to such Distribution Date in which the final distribution on the Certificates is to occur from
the Collection Account pursuant to the first paragraph of Section 3.04(b) (provided, however, that if a Serviced
Whole Loan is secured by REO Property, the portion of the above-described purchase price allocable to such Trust’s portion
of REO Property shall initially be deposited into the related REO Account). Upon confirmation that such final deposits have been
made and following the surrender of all its Certificates (other than the Class R Certificates) on the applicable Distribution Date,
the Custodian shall, upon receipt of a Request for Release from the Master Servicer, release or cause to be released to the Sole
Certificateholder or any designee thereof, the Mortgage Files for the remaining Mortgage Loans and the Trust Subordinate Companion
Loans and shall execute all assignments, endorsements and other instruments furnished to it by the Sole Certificateholder as shall
be necessary to effectuate transfer of the Mortgage Loans, the Trust Subordinate Companion Loan and REO Properties remaining in
the Trust Fund, and the Trust shall be liquidated in accordance with Section 9.02. Solely for federal income tax purposes,
the Sole Certificateholder shall be deemed to have purchased the assets of the Lower-Tier REMIC for an amount equal to the remaining
Certificate Balance of the Principal Balance Certificates, plus accrued, unpaid interest with

 

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respect thereto, and the Certificate
Administrator shall credit such amounts against amounts distributable in respect of such Certificates and Related Lower-Tier Regular
Interests. If the AMA Plaza Whole Loan or 225 Bush Street Whole Loan (or any related REO Loan) is an asset of the Trust, (i) if
the Mortgaged Property securing the AMA Plaza Whole Loan or 225 Bush Street Whole Loan, as applicable, has become an REO Property,
then the Sole Certificateholder exercising the exchange described above, as a prerequisite, shall designate a nominee to hold title
to such REO Property on behalf of the purchaser and the holders of the related Loan-Specific Certificates and (ii) if the Mortgaged
Property securing the AMA Plaza Whole Loan or 225 Bush Street Whole Loan is not an REO Property, then the Custodian shall, upon
receipt of a Request for Release from the Master Servicer, release or cause to be released to the related Loan-Specific Directing
Holder or any designee thereof, the Mortgage Note for the AMA Plaza Trust Subordinate Companion Loan or 225 Bush Street Trust Subordinate
Companion Loan, as applicable, and shall execute all assignments, endorsements and other instruments furnished to it by the related
Loan-Specific Directing Holder as shall be necessary to effectuate transfer of such Mortgage Note and the related Trust Subordinate
Companion Loan REMIC shall be liquidated in accordance with the procedures set forth in Section 9.02 and neither of the
Master Servicer nor the applicable Special Servicer shall have any further obligation to service such Trust Subordinate Companion
Loan hereunder.

 

The obligations
and responsibilities under this Agreement of the Depositor, the Master Servicer, the applicable Special Servicer, the Trustee,
the Certificate Administrator and the Companion Paying Agent shall terminate with respect to any Companion Loan to the extent (i)
its related Serviced Mortgage Loan has been paid in full or is no longer part of the Trust Fund and (ii) no amounts payable by
the related Companion Holder to or for the benefit of the Trust or any party hereto in accordance with the related Co-Lender Agreement
remain due and owing.

 

The Holders
of the majority of the Controlling Class, the applicable Special Servicer, the Master Servicer or the Holders of the Class R Certificates
representing greater than 50% of the Percentage Interest of such Class, in that order of priority, may, at their option, elect
to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in respect of any related Mortgage
Loan), the Trust Subordinate Companion Loan and the Trust’s portion of each REO Property remaining in the Trust Fund as contemplated
by clause (ii) of the first paragraph of this Section 9.01 by giving written notice to the Trustee, the Certificate
Administrator, and the other parties hereto no later than sixty (60) days prior to the anticipated date of purchase; provided,
however, that the Holders of the Controlling Class, any Special Servicer, the Master Servicer, or the Holders of the Class
R Certificates may so elect to purchase all of the Mortgage Loans, the Trust Subordinate Companion Loan and the Trust’s portion
of each REO Property remaining in the Trust Fund only on or after the first Distribution Date on which (A) the aggregate Stated
Principal Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate
Cut-off Date Principal Balance of the Mortgage Loans as set forth in the Preliminary Statement. This purchase shall terminate the
Trust and retire the then-outstanding Certificates. If the AMA Plaza Whole Loan or 225 Bush Street Whole Loan (or any related REO
Loan) is an asset of the Trust, (i) if the Mortgaged Property securing the AMA Plaza Whole Loan or 225 Bush Street Whole Loan,
as applicable, has become an REO Property, then the purchaser exercising the purchase option described above, as a prerequisite,
shall designate a nominee to hold title to such REO Property on behalf of the purchaser and the holders of the related Loan-Specific
Certificates and (ii) if the

 

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Mortgaged Property securing the AMA Plaza Whole Loan or 225 Bush Street Whole Loan is not an REO Property,
then the Custodian shall, upon receipt of a Request for Release from the Master Servicer, release or cause to be released to the
related Loan-Specific Directing Holder or any designee thereof, the Mortgage Note for the AMA Plaza Trust Subordinate Companion
Loan or 225 Bush Street Trust Subordinate Companion Loan, as applicable, and shall execute all assignments, endorsements and other
instruments furnished to it by the related Loan-Specific Directing Holder as shall be necessary to effectuate transfer of such
Mortgage Note and the related Trust Subordinate Companion Loan REMIC shall be liquidated in accordance with the procedures set
forth in Section 9.02. In the event that the Master Servicer or the applicable Special Servicer purchases, or the Holders
of the majority of the Controlling Class or the Holders of the Class R Certificates purchase, all of the Mortgage Loans, the Trust
Subordinate Companion Loan and the Trust’s portion of each REO Property remaining in the Trust Fund in accordance with the
preceding sentence, the Master Servicer, the applicable Special Servicer, the Holders of the majority of the Controlling Class
or the Holders of the Class R Certificates, as applicable, shall deposit in the Lower-Tier REMIC Distribution Account not later
than the Master Servicer Remittance Date relating to the Distribution Date on which the final distribution on the Certificates
is to occur, an amount in immediately available funds equal to the above-described purchase price (exclusive of any portion thereof
payable to any Person other than the Certificateholders pursuant to Section 3.05(a), which portion shall be deposited in
the Collection Account). In addition, the Master Servicer shall transfer to the Lower-Tier REMIC Distribution Account all amounts
required to be transferred thereto on such Master Servicer Remittance Date from the Collection Account pursuant to the first paragraph
of Section 3.04(b), together with any other amounts on deposit in the Collection Account that would otherwise be held for
future distribution. Upon confirmation that such final deposits and payments have been made, the Custodian shall release or cause
to be released to the Master Servicer, the applicable Special Servicer, the Holders of the majority of the Controlling Class or
the Holders of the Class R Certificates, as applicable, the Mortgage Files for the remaining Mortgage Loans and the Trust Subordinate
Companion Loans and shall execute all assignments, endorsements and other instruments furnished to it by the Master Servicer, the
applicable Special Servicer, the Holders of the majority of the Controlling Class or the Holders of the Class R Certificates, as
applicable, as shall be necessary to effectuate transfer of the Mortgage Loans, the Trust Subordinate Companion Loans and REO Properties
remaining in the Trust Fund.

 

For purposes
of this Section 9.01, the Holders of the majority of the Controlling Class shall have the first option to terminate the
Upper-Tier REMIC and Lower-Tier REMIC, then the applicable Special Servicer then the Master Servicer, and then the Holders of the
Class R Certificates. For purposes of this Section 9.01, the Directing Holder with the consent of the Holders of the Controlling
Class, shall act on behalf of the Holders of the Controlling Class in purchasing the assets of the Trust and terminating the Trust.

 

Notice of any
termination pursuant to this Section 9.01 shall be given promptly by the Certificate Administrator by letter to the Certificateholders,
the Loan-Specific Directing Holder, each Serviced Companion Noteholder and the 17g-5 Information Provider in accordance with the
provisions of Section 3.13(c) (who shall promptly post a copy of such additional notice on the 17g-5 Information Provider’s
Website in accordance with the provisions of Section 3.13(c)) and, if not previously notified pursuant to this Section
9.01, to the other parties hereto mailed (a) in the event such notice is given in connection with the purchase of all of the

 

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Mortgage Loans, the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund, not earlier than the 15th
day and not later than the 25th day of the month next preceding the month of the final distribution on the Certificates, or (b)
otherwise during the month of such final distribution on or before the P&I Advance Determination Date in such month, in each
case specifying (i) the Distribution Date upon which the Trust will terminate and final payment of the Certificates will be made,
(ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not
applicable, payments being made only upon presentation and surrender of the Certificates at the offices of the Certificate Registrar
or such other location therein designated.

 

After transferring
the Lower-Tier Distribution Amount and Trust Subordinate Companion Loan REMIC Distribution Amounts, as applicable, and the amount
of any Yield Maintenance Charges distributable to the Regular Certificates pursuant to Section 4.01(e) to the Upper-Tier
REMIC Distribution Account, in each case pursuant to Section 3.04(b) or Section 3.04(b), as applicable, and upon
presentation and surrender of the Certificates by the Certificateholders on the final Distribution Date, the Certificate Administrator
shall distribute to each Certificateholder so presenting and surrendering its Certificates (i) such Certificateholder’s Percentage
Interest of that portion of the amounts then on deposit in the Upper-Tier REMIC Distribution Account or the Class PEZ Distribution
Account, as applicable, that are allocable to payments on the Class of Regular Certificates so presented, (ii) to Holders of the
Class S Certificates so presented, any amounts remaining on deposit in the Excess Interest Distribution Account, (iii) any remaining
amounts of Yield Maintenance Charges distributable to the Class X-B Certificates pursuant to Section 4.01(e), and (iv) any
remaining amount shall be distributed to the Class R Certificates in respect of the Class AMA-R Interest, the Class BS-R Interest,
the Class LR Interest or the Class UR Interest, as applicable. Amounts transferred from a Trust Subordinate Companion Loan REMIC
Distribution Account or the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account as of the final
Distribution Date, shall be distributed in termination of the AMA Plaza Trust Subordinate Companion Loan REMIC Regular Interests
and the Class AMA-R Interest, the 225 Bush Street Trust Subordinate Companion Loan REMIC Regular Interests and the Class BS-R Interest,
or the Lower-Tier Regular Interests and the Class LR Interest in accordance with Sections 4.01(a), 4.01(c), 4.01(c),
4.01(d), and 4.01(e), as applicable. Any funds not distributed on such Distribution Date shall be set aside and held
uninvested in trust for the benefit of the Certificateholders not presenting and surrendering their Certificates in the aforesaid
manner and shall be disposed of in accordance with this Section 9.01 and Section 4.01(h).

 

Section 9.02     Additional
Termination Requirements. (a) In the event the Master Servicer or the applicable Special Servicer purchases, or the Holders
of the Controlling Class or the Holders of the Class R Certificates purchase, all of the Mortgage Loans, a Trust Subordinate Companion
Loan and the Trust’s portion of each REO Property remaining in the Trust Fund as provided in Section 9.01 or in the
event Holders of the Loan-Specific Certificates exchange their Certificates for a Trust Subordinate Companion Loan, the Upper-Tier
REMIC and Lower-Tier REMIC or the related Trust Subordinate Companion Loan REMIC, as applicable, shall be terminated in accordance
with the following additional requirements, which meet the definition of a “qualified liquidation” in Section 860F(a)(4)
of the Code:

 

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(i)         the
Certificate Administrator shall specify the date of adoption of the plan of complete liquidation (which shall be the date of mailing
of the notice specified in Section 9.01) in a statement attached to each of the related Trust REMICs’ final Tax Returns
pursuant to Treasury Regulations Section 1.860F-1;

 

(ii)        during
the 90-day liquidation period and at or prior to the time of the making of the final payment on the Certificates, the Certificate
Administrator on behalf of the Trustee shall sell all of the assets of the related Trust REMICs to the Master Servicer, the applicable
Special Servicer, the Holders of the Controlling Class or the Holders of the Class R Certificates, as applicable, for cash; and

 

(iii)       within
such 90-day liquidation period and immediately following the making of the final payment on the Lower-Tier Regular Interests and
the Certificates, the Certificate Administrator shall distribute or credit, or cause to be distributed or credited, to the Holders
of the Class R Certificates in respect of the Class LR Interest (in the case of the Lower-Tier REMIC) and in respect of the Class
UR Interest (in the case of the Upper-Tier REMIC) and in respect of the AMA-R Interest (in the case of the AMA Plaza Trust Subordinate
Companion Loan REMIC) and in respect of the BS-R Interest (in the case of the 225 Bush Street Trust Subordinate Companion Loan
REMIC) all cash on hand (other than cash retained to meet claims), and the Trust (if applicable) or the related Trust REMIC(s)
shall terminate at that time.

 

[End of Article IX]

 

Article
X

ADDITIONAL REMIC PROVISIONS

 

Section 10.01     REMIC
Administration.  (a) The Certificate Administrator shall make elections or cause elections to be made to treat each Trust REMIC
as a REMIC under the Code and, if necessary, under Applicable State and Local Tax Law. Each such election will be made on Form
1066 or other appropriate federal tax return for the taxable year ending on the last day of the calendar year in which the Lower-Tier
Regular Interests and the Certificates are issued. For the purposes of the REMIC election in respect of the Upper-Tier REMIC,
each Class of the Regular Certificates (other than the Exchangeable Certificates) and the Class PEZ Regular Interests shall be
designated as the “regular interests” and the Class UR Interest shall be designated as the sole class of “residual
interests” in the Upper-Tier REMIC. For purposes of the REMIC election in respect of the Lower-Tier REMIC, each Class of
Lower-Tier Regular Interests shall be designated as a class of “regular interests” and the Class LR Interest shall
be designated as the sole class of “residual interests” in the Lower-Tier REMIC. For purposes of the REMIC election
in respect of the AMA Plaza Trust Subordinate Companion Loan REMIC, the AMA Plaza Trust Subordinate Companion Loan REMIC Regular
Interests shall be designated as the “regular interests” and the Class AMA-R Interest shall be designated as the sole
class of “residual interests” in the AMA Plaza Trust Subordinate Companion Loan REMIC. For purposes of the REMIC election
in respect of the 225 Bush Street Trust Subordinate Companion Loan REMIC, the 225 Bush Street Trust Subordinate Companion Loan
REMIC Regular Interests shall be designated as the “regular interests” and the Class BS-R Interest shall

 

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be designated
as the sole class of “residual interests” in the 225 Bush Street Trust Subordinate Companion Loan REMIC. None of the
Special Servicers, the Master Servicer or the Trustee shall permit the creation of any “interests” (within the meaning
of Section 860G of the Code) in any Trust REMIC other than the foregoing interests.

 

(b)       The
Closing Date is hereby designated as the “startup day” (“Startup Day”) of each Trust REMIC within
the meaning of Section 860G(a)(9) of the Code.

 

(c)       The
Certificate Administrator shall act on behalf of each Trust REMIC in relation to any tax matter or controversy involving either
such REMIC and shall represent each such REMIC in any administrative or judicial proceeding relating to an examination or audit
by any governmental taxing authority with respect thereto. The legal expenses, including without limitation attorneys’ or
accountants’ fees, and costs of any such proceeding and any liability resulting therefrom shall be expenses of the Trust
and the Certificate Administrator shall be entitled to reimbursement therefor out of amounts attributable to the Mortgage Loans,
the Trust Subordinate Companion Loan and any REO Properties on deposit in the Collection Account as provided by Section 3.05(a)
unless such legal expenses and costs are incurred by reason of the Certificate Administrator’s willful misconduct, bad faith
or negligence. The Holder of the largest Percentage Interest in the Class R Certificates shall be designated, in the manner provided
under Treasury Regulations Section 1.860F-4(d) and Treasury Regulations Section 301.6231(a)(7)-1, as the “tax matters person”
and as the “partnership representative” (within the meaning of Section 6223 of the Code, to the extent such provision
is applicable to the Trust REMICs) of each Trust REMIC. By their acceptance thereof, the Holders of the largest Percentage Interest
of the Class R Certificates hereby agrees to irrevocably appoint the Certificate Administrator as its agent to perform all of the
duties of the “tax matters person” and “partnership representative” for the Trust REMICs.

 

(d)       The
Certificate Administrator shall prepare or cause to be prepared and shall file, or cause to be filed, all of the Tax Returns that
it determines are required with respect to each Trust REMIC created hereunder, and shall cause the Trustee to sign (and the Trustee
shall timely sign) such Tax Returns in a timely manner. The ordinary expenses of preparing such returns shall be borne by the Certificate
Administrator without any right of reimbursement therefor.

 

(e)       The
Certificate Administrator shall provide or cause to be provided (i) to any Transferor of a Class R Certificate such information
as is necessary for the application of any tax relating to the transfer of such Class R Certificate to any Person who is a Disqualified
Organization, or in the case of a Transfer to an agent thereof, to such agent, (ii) to the Certificateholders such information
or reports as are required by the Code or the REMIC Provisions including reports relating to interest, original issue discount
and market discount or premium (using the Prepayment Assumption) and (iii) to the Internal Revenue Service on Form 8811, within
thirty (30) days after the Closing Date, the name, title, address and telephone number of the “tax matters person”
and/or “partnership representative” who will serve as the representative of each of the Trust REMICs created hereunder.

 

(f)       The
Certificate Administrator shall take such actions and shall cause the Trust to take such actions as are reasonably within the Certificate
Administrator’s control and the

 

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scope of its duties more specifically set forth herein as shall be necessary to maintain
the status of each Trust REMIC as a REMIC under the REMIC Provisions and the Trustee shall assist the Certificate Administrator
to the extent reasonably requested by the Certificate Administrator to do so. Neither the Master Servicer nor the Special Servicers
shall knowingly or intentionally take any action, cause the Trust to take any action or fail to take (or fail to cause to be taken)
any action reasonably within its control and the scope of duties more specifically set forth herein, that, under the REMIC Provisions,
if taken or not taken, as the case may be, could (i) cause any Trust REMIC to fail to qualify as a REMIC or (ii) result in the
imposition of a tax upon any Trust REMIC or the Trust (including but not limited to the tax on “prohibited transactions”
as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code,
but not including the tax on “net income from foreclosure property”) (either such event, an “Adverse REMIC
Event”) unless the Certificate Administrator receives an Opinion of Counsel (at the expense of the party seeking to take
such action or, if such party fails to pay such expense, and the Certificate Administrator determines that taking such action is
in the best interest of the Trust and the Certificateholders, at the expense of the Trust, but in no event at the expense of the
Certificate Administrator or the Trustee) to the effect that the contemplated action will not, with respect to the Trust or any
Trust REMIC created hereunder, endanger such status or, unless the Certificate Administrator determines in its sole discretion
to indemnify the Trust against such tax, result in the imposition of such a tax (not including a tax on “net income from
foreclosure property”). The Trustee shall not take or fail to take any action (whether or not authorized hereunder) as to
which the Certificate Administrator has advised it in writing that it has received an Opinion of Counsel to the effect that an
Adverse REMIC Event could occur with respect to such action. The Certificate Administrator may consult with counsel to make such
written advice, and the cost of same shall be borne by the party seeking to take the action not expressly permitted by this Agreement,
but in no event at the expense of the Certificate Administrator or the Trustee. At all times as may be required by the Code, the
Certificate Administrator will to the extent within its control and the scope of its duties more specifically set forth herein,
maintain substantially all of the assets of each Trust REMIC as “qualified mortgages” as defined in Section 860G(a)(3)
of the Code and “permitted investments” as defined in Section 860G(a)(5) of the Code.

 

(g)       In
the event that any applicable federal, state or local tax, including interest, penalties or assessments, additional amounts or
additions to tax, is imposed on any Trust REMIC, such tax shall be charged against amounts otherwise distributable to the Holders
of the Certificates, except as provided in the last sentence of this Section 10.01(g); provided that with respect
to the estimated amount of tax imposed on any “net income from foreclosure property” pursuant to Section 860G(c) of
the Code or any similar tax imposed by a state or local tax authority, the applicable Special Servicer shall retain in the related
REO Account a reserve for the payment of such taxes in such amounts and at such times as it shall deem appropriate (or as advised
by the Certificate Administrator in writing), and shall remit to the Master Servicer such reserved amounts as the Master Servicer
shall request in order to pay such taxes. Except as provided in the preceding sentence, the Master Servicer shall withdraw from
the Collection Account sufficient funds to pay or provide for the payment of, and to actually pay, such tax as is estimated to
be legally owed by any Trust REMIC (but such authorization shall not prevent the Certificate Administrator from contesting, at
the expense of the Trust (other than as a consequence of a breach of its obligations under this Agreement), any such tax in appropriate
proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of

 

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such proceedings). The Certificate
Administrator is hereby authorized to and shall segregate, into a separate non-interest bearing account, the net income from any
“prohibited transaction” under Section 860F(a) of the Code or the amount of any taxable contribution to any Trust REMIC
after the Startup Day that is subject to tax under Section 860G(d) of the Code and use such income or amount, to the extent necessary,
to pay such prohibited transactions tax. To the extent that any such tax (other than any such tax paid in respect of “net
income from foreclosure property”) is paid to the Internal Revenue Service or applicable state or local tax authorities,
the Certificate Administrator shall retain an equal amount from future amounts otherwise distributable to the Holders of Class
R Certificates (as applicable) and shall distribute such retained amounts, (x) in the case of the Trust Subordinate Companion Loan
REMIC Regular Interests, to the Upper-Tier REMIC to the extent they are fully reimbursed for any AMA Plaza Realized Losses or 225
Bush Street Realized Losses, as applicable, arising therefrom and then to the Holders of the Class R Certificates in respect of
the Class AMA-R Interest or Class BS-R Interest, as applicable, in the manner specified in Section 4.01(b), (y) in the case
of the Lower-Tier Regular Interests, to the Upper-Tier REMIC to the extent they are fully reimbursed for any Realized Losses arising
therefrom and then to the Holders of the Class R Certificates in respect of the Class LR Interest in the manner specified in Section
4.01(c) and (z) in the case of the Upper-Tier REMIC, to the Holders of the Principal Balance Certificates (other than the Exchangeable
Certificate) and the Class PEZ Regular Interests in the manner specified in Section 4.01(a), to the extent they are fully
reimbursed for any Realized Losses arising therefrom and then to the Holders of the Class R Certificates in respect of the Class
UR Interest. None of the Trustee, the Certificate Administrator, the Master Servicer or the applicable Special Servicer shall be
responsible for any taxes imposed on any Trust REMIC except to the extent such taxes arise as a consequence of a breach of their
respective obligations under this Agreement which breach constitutes willful misconduct, bad faith, or negligence by such party.

 

(h)       The
Certificate Administrator shall, for federal income tax purposes, maintain or cause to be maintained books and records with respect
to each Trust REMIC on a calendar year and on an accrual basis or as otherwise may be required by the REMIC Provisions.

 

(i)       Following
the Startup Day, neither the Certificate Administrator nor the Trustee shall accept any contributions of assets to any Trust REMIC
unless the Certificate Administrator and the Trustee shall have received an Opinion of Counsel (at the expense of the party seeking
to make such contribution) to the effect that the inclusion of such assets in such Trust REMIC will not cause an Adverse REMIC
Event to occur.

 

(j)       Neither
the Certificate Administrator nor the Trustee shall enter into any arrangement by which the Trust or any Trust REMIC will receive
a fee or other compensation for services nor permit the Trust or any Trust REMIC to receive any income from assets other than “qualified
mortgages” as defined in Section 860G(a)(3) of the Code or “permitted investments” as defined in Section 860G(a)(5)
of the Code.

 

(k)       Solely
for the purposes of Treasury Regulations Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” by which
the Certificate Balance or Notional Amount of each Class of Regular Certificates and Class PEZ Regular Interests and by which the
Lower-Tier Principal Amount of each Class of Lower-Tier Regular Interests and

 

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Trust Subordinate Companion Loan REMIC Regular Interests
would be reduced to zero is the date that is the Rated Final Distribution Date.

 

(l)        None
of the Trustee, the Certificate Administrator, the Master Servicer or the applicable Special Servicer, as applicable, shall sell,
dispose of or substitute for any of the Mortgage Loans or the Trust Subordinate Companion Loans (except in connection with (i)
the default, imminent default or foreclosure of a Mortgage Loan or Trust Subordinate Companion Loan, including but not limited
to, the acquisition or sale of a Mortgaged Property acquired by foreclosure or deed in lieu of foreclosure, (ii) the bankruptcy
of the Trust, (iii) the termination of the Trust pursuant to Article IX of this Agreement or (iv) a purchase of Mortgage
Loans or the Trust Subordinate Companion Loans pursuant to Article II or Article III of this Agreement) or acquire
any assets for the Trust or any Trust REMIC or sell or dispose of any investments in the Collection Account or the applicable REO
Account for gain unless it has received an Opinion of Counsel that such sale, disposition or substitution will not (a) affect adversely
the status of any Trust REMIC as a REMIC or (b) unless the Trustee, the Certificate Administrator, the Master Servicer or the applicable
Special Servicer, as the case may be, has determined in its sole discretion to indemnify the Trust against such tax, cause the
Trust or any Trust REMIC to be subject to a tax on “prohibited transactions” pursuant to the REMIC Provisions.

 

(m)      The
Certificate Administrator’s authority under this Agreement includes the authority to make, and the Certificate Administrator
is hereby directed to make, any elections allowed under the Code (i) to avoid the application of Section 6221 of the Code (or successor
provisions) to any Trust REMIC and (ii) to avoid payment by any Trust REMIC under Section 6225 of the Code (or successor provisions)
of any tax, penalty, interest or other amount imposed under the Code that would otherwise be imposed on any Holder of Class R Certificate,
past or present. Each Holder of Class R Certificate agrees, by acquiring such Certificate, to any such elections.

 

Section 10.02     Use
of Agents.  (a) The Trustee shall execute all of its obligations and duties under this Article X through
its Corporate Trust Office. The Trustee may execute any of its obligations and duties under this Article X either directly
or by or through agents or attorneys. The Trustee shall not be relieved of any of its duties or obligations under this Article
X by virtue of the appointment of any such agents or attorneys.

 

(b)       The
Certificate Administrator may execute any of its obligations and duties under this Article X either directly or by or through
agents or attorneys. The Certificate Administrator shall not be relieved of any of its duties or obligations under this Article
X by virtue of the appointment of any such agents or attorneys.

 

Section 10.03     Depositor,
Master Servicer and Special Servicers to Cooperate with Certificate Administrator. (a) The Depositor shall provide or cause
to be provided to the Certificate Administrator within ten (10) days after the Depositor receives a request from the Certificate
Administrator, all information or data that the Certificate Administrator reasonably determines to be relevant for tax purposes
as to the valuations and issue prices of the Certificates, including, without limitation, the price, yield, Prepayment Assumptions
and projected cash flow of the Certificates.

 

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(b)       The
Master Servicer and the Special Servicers shall each furnish such reports, certifications and information, and upon reasonable
notice and during normal business hours, access to such books and records maintained thereby, as may relate to the Certificates
or the Trust and as shall be reasonably requested by the Certificate Administrator in order to enable it to perform its duties
hereunder.

 

Section 10.04     Appointment
of REMIC Administrators.  (a) The Certificate Administrator may appoint at the Certificate Administrator’s
expense, one or more REMIC Administrators, which shall be authorized to act on behalf of the Certificate Administrator in performing
the functions set forth in Section 10.01 herein. The Certificate Administrator shall cause any such REMIC Administrator
to execute and deliver to the Certificate Administrator an instrument in which REMIC Administrator shall agree to act in such
capacity, with the obligations and responsibilities herein. The appointment of a REMIC Administrator shall not relieve the Certificate
Administrator from any of its obligations hereunder, and the Certificate Administrator shall remain responsible and liable for
all acts and omissions of the REMIC Administrator. Each REMIC Administrator must be acceptable to the Certificate Administrator
and must be organized and doing business under the laws of the United States of America or of any State and be subject to supervision
or examination by federal or state authorities. In the absence of any other Person appointed in accordance herewith acting as
REMIC Administrator, the Certificate Administrator hereby agrees to act in such capacity in accordance with the terms hereof.
If Wells Fargo Bank, National Association is removed as Certificate Administrator, then Wells Fargo Bank, National Association
shall be terminated as REMIC Administrator.

 

(b)       Any
Person into which any REMIC Administrator may be merged or converted or with which it may be consolidated, or any Person resulting
from any merger, conversion, or consolidation to which any REMIC Administrator shall be a party, or any Person succeeding to the
corporate agency business of any REMIC Administrator, shall continue to be the REMIC Administrator without the execution or filing
of any paper or any further act on the part of the Certificate Administrator or the REMIC Administrator.

 

(c)       Any
REMIC Administrator may at any time resign by giving at least thirty (30) days’ advance written notice of resignation to
the Trustee, the Certificate Registrar, the Certificate Administrator, the Master Servicer, the Special Servicers and the Depositor.
The Certificate Administrator may at any time terminate the agency of any REMIC Administrator by giving written notice of termination
to such REMIC Administrator, the Master Servicer, the Certificate Registrar and the Depositor. Upon receiving a notice of resignation
or upon such a termination, or in case at any time any REMIC Administrator shall cease to be eligible in accordance with the provisions
of this Section 10.04, the Certificate Administrator may appoint a successor REMIC Administrator, in which case the Certificate
Administrator shall give written notice of such appointment to the Master Servicer, the Trustee and the Depositor and shall mail
notice of such appointment to all Certificateholders; provided, however, that no successor REMIC Administrator shall
be appointed unless eligible under the provisions of this Section 10.04. Any successor REMIC Administrator upon acceptance
of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities of its predecessor hereunder,
with like effect as if originally named as REMIC Administrator. No REMIC Administrator shall have responsibility or liability for
any action taken by it as such at the direction of the Certificate Administrator.

 

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[End of Article X]

 

Article
XI

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section 11.01     Intent
of the Parties; Reasonableness. The parties hereto acknowledge and agree that the purpose of Article XI of this
Agreement is to facilitate compliance by the Depositor with the provisions of Regulation AB and the related rules and
regulations of the Commission. The Depositor shall not exercise its rights to request delivery of information or other
performance under these provisions other than in reasonable good faith, or for purposes other than compliance with the
Securities Act, the Exchange Act, the Sarbanes-Oxley Act and, in each case, the rules and regulations of the Commission
thereunder. The parties hereto acknowledge that interpretations of the requirements of Regulation AB may change over time,
due to interpretive guidance provided by the Commission or its staff, and agree to comply with requests made by the Depositor
in good faith for delivery of information under these provisions on the basis of such evolving interpretations of Regulation
AB (to the extent such interpretations require compliance and are not “grandfathered”). In connection with the GS
Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, each of the Master
Servicer, the Special Servicers, the Operating Advisor, the Trustee, the Custodian and the Certificate Administrator shall
cooperate fully with the Depositor and the Certificate Administrator, as applicable, to deliver or make available to
the Depositor or the Certificate Administrator (including any of its assignees or designees), any and all statements,
reports, certifications, records and any other information (in its possession or reasonably attainable) necessary in the
reasonable good faith determination of the Depositor to permit the Depositor to comply with the provisions of Regulation AB,
together with such disclosures relating to the Master Servicer, the applicable Special Servicer the Operating Advisor, the
Trustee, the Custodian, the Asset Representations Reviewer and the Certificate Administrator, as applicable, and any
Sub-Servicer, or the servicing of the Mortgage Loans, (and the Trust Subordinate Companion Loan, if applicable), reasonably
believed by the Depositor to be necessary in order to effect such compliance. Each party to this Agreement shall have a
reasonable period of time to comply with any written request made under this Section 11.01, but in any event, shall,
upon reasonable advance written request, provide information in sufficient time to allow the Depositor to satisfy any related
filing requirements. For purposes of this Article XI, to the extent any party has an obligation to exercise
commercially reasonable efforts to cause a third party to perform, such party hereunder shall not be required to bring any
legal action against such third party in connection with such obligation.

 

Section 11.02     Succession;
Subcontractors. (a) As a condition to the succession to the Master Servicer and the applicable Special Servicer or to
any Sub-Servicer (but only if such Sub-Servicer is a Servicing Function Participant and a servicer as contemplated by Item 1108(a)(2))
as servicer or sub-servicer under this Agreement by any Person (i) into which the Master Servicer and the applicable Special Servicer
or such Sub-Servicer may be merged or consolidated, or (ii) which may be appointed as a successor to the Master Servicer and the
applicable Special Servicer or to any such Sub-Servicer, the person removing and replacing the Master Servicer and the applicable
Special Servicer shall provide to the Depositor and the

 

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Certificate Administrator, at least fifteen (15) calendar days prior to the effective date of such succession or appointment (or
such shorter period as is agreed to by the Depositor), (x) written notice to the Depositor of such succession or appointment and
(y) in writing and in form and substance reasonably satisfactory to the Depositor, all information relating to such successor reasonably
requested by the Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange
Act (if such reports under the Exchange Act are required to be filed under the Exchange Act); provided, however that
if disclosing such information prior to such effective date would violate any applicable law or confidentiality agreement, the
Master Servicer, the Special Servicers, any Additional Servicer, as the case may be, shall submit such disclosure to the Depositor
no later than the first Business Day after the effective date of such succession or appointment.

 

(b)       Each
of the Master Servicer, the Special Servicers, the Sub-Servicer, the Trustee, the Operating Advisor and the Certificate Administrator
(each of the Master Servicer, the Special Servicers, the Trustee, the Operating Advisor, the Asset Representations Reviewer and
the Certificate Administrator and each Sub-Servicer, for purposes of this Section 11.02, a “Servicer”)
is permitted to utilize one or more Subcontractors to perform certain of its obligations hereunder. If such Subcontractor will
be a Servicing Function Participant, such Servicer shall promptly upon written request provide to the Depositor or the Mortgage
Loan Seller a written description (in form and substance satisfactory to the Depositor or the Mortgage Loan Seller, as applicable)
of the role and function of each Subcontractor utilized by such Servicer, specifying (i) the identity of such Subcontractor and
(ii) the elements of the Servicing Criteria that will be addressed in assessments of compliance provided by each such Subcontractor.
As a condition to the utilization by such Servicer of any Subcontractor determined to be a Servicing Function Participant, such
Servicer shall (i) with respect to any such Subcontractor engaged by such Servicer that is an Initial Sub-Servicer, use commercially
reasonable efforts to cause, and (ii) with respect to any other subcontractor with which it has entered into a servicing relationship,
cause such Subcontractor used by such Servicer for the benefit of the Depositor and the Trustee to comply with the provisions of
Section 11.10 and Section 11.11 of this Agreement to the same extent as if such Subcontractor were such Servicer.
With respect to any Servicing Function Participant engaged by such Servicer that is an Initial Sub-Servicer, such Servicer shall
be responsible for using commercially reasonable efforts to obtain, and with respect to each other Servicing Function Participant
engaged by such Servicer, such Servicer shall obtain from each such Servicing Function Participant and deliver to the applicable
Persons any assessment of compliance report and related accountant’s attestation required to be delivered by such Subcontractor
under Section 11.10 and Section 11.11, in each case, as and when required to be delivered. For the avoidance of doubt,
the Custodian shall not be permitted to utilize any Subcontractor to perform any of its obligations hereunder.

 

(c)       Notwithstanding
the foregoing, if a Servicer engages a Subcontractor, other than an Initial Sub-Servicer in connection with the performance of
any of its duties under this Agreement, such Servicer shall be responsible for determining whether such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and whether any such Subcontractor meets the criteria in Item 1108(a)(2)(i), (ii)
or (iii) of Regulation AB. If a Servicer determines, pursuant to the preceding sentence, that such Subcontractor is a “servicer”
within the meaning of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB,
then such Subcontractor shall be deemed to be a Sub-Servicer for purposes of

 

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this Agreement, the engagement of such Sub-Servicer
shall not be effective unless and until notice is given to the Depositor and the Certificate Administrator of any such Sub-Servicer
and Sub-Servicing Agreement. Other than with respect to the Initial Sub-Servicer, no Sub-Servicing Agreement shall be effective
until fifteen (15) days after such written notice is received by the Depositor and the Certificate Administrator (or such shorter
period as is agreed to by the Depositor). Such notice shall contain all information reasonably necessary to enable the Certificate
Administrator to accurately and timely report the event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports
under the Exchange Act are required to be filed under the Exchange Act).

 

(d)       In
connection with the succession to the Trustee under this Agreement by any Person (i) into which the Trustee may be merged or consolidated,
or (ii) which may be appointed as a successor to the Trustee, the Trustee shall deliver written notice to the Depositor, the Certificate
Administrator and the 17g-5 Information Provider, which shall promptly post such notice to the 17g-5 Information Provider’s
Website pursuant to Section 3.13(c), in each case at least thirty (30) calendar days prior to the effective date of such
succession or appointment (or if such prior notice is violative of applicable law or any applicable confidentiality agreement,
no later than one (1) Business Day after such effective date of succession) and shall furnish to the Depositor and the Certificate
Administrator, in writing and in form and substance reasonably satisfactory to the Depositor and the Certificate Administrator,
all information reasonably necessary for the Certificate Administrator to accurately and timely report, pursuant to Section
11.07, the event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act are required
to be filed under the Exchange Act).

 

(e)       Notwithstanding
anything to the contrary contained in this Article XI, in connection with any Sub-Servicer and/or any Mortgage Loan (and/or
Trust Subordinate Companion Loan, if applicable) that is the subject of an Initial Sub-Servicing Agreement, with respect to all
matters related to Regulation AB, the Master Servicer shall not have any obligation other than to use commercially reasonable efforts
to cause such Sub-Servicer to comply with its obligations under such Initial Sub-Servicing Agreement.

 

(f)       Any
information furnished pursuant to this Section 11.02 shall also be provided to each Other Depositor and each Other Certificate
Administrator (to the extent the information relates to a party that services, specially services or is trustee for a Serviced
Companion Loan) in the same time frame as set forth in this Section 11.02.

 

Section 11.03     Filing
Obligations.  (a) The Master Servicer, the Special Servicers, the Certificate Administrator, the Operating Advisor,
the Asset Representations Reviewer and the Trustee shall reasonably cooperate with the Depositor in connection with the satisfaction
of the Trust’s reporting requirements under the Exchange Act. Pursuant to Sections 11.04, 11.05, 11.06
and 11.07 of this Agreement, the Certificate Administrator shall prepare for execution by the Depositor any Forms 8-K,
10-D and 10-K required by the Exchange Act, in order to permit the timely filing thereof, and the Certificate Administrator shall
file (via the Commission’s Electronic Data Gathering, Analysis and Retrieval (“EDGAR”) system) such Forms
executed by the Depositor.

 

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Each party hereto
shall be entitled to rely on the information in the Prospectus or this Agreement with respect to the identity of any “sponsor”,
credit enhancer, derivative provider or “significant obligor” as of the Closing Date other than with respect to itself
or any information required to be provided by it or indemnified for by it pursuant to any separate agreement.

 

(b)       In
the event that the Certificate Administrator is unable to timely file with the Commission all or any required portion of any Form
8-K, 10-D or 10-K required to be filed by this Agreement because required disclosure information was either not delivered to it
or delivered to it after the delivery deadlines set forth in this Agreement, the Certificate Administrator will promptly notify
the Depositor. In the case of Forms 10-D and 10-K, the Depositor, the Master Servicer, the Certificate Administrator, the Operating
Advisor and the Trustee will thereupon cooperate to prepare and file a Form 12b-25 and a Form 10-D/A or Form 10-K/A, as applicable,
pursuant to Rule 12b-25 of the Exchange Act. In the case of Form 8-K, the Certificate Administrator will, upon receipt of all required
Form 8-K Disclosure Information and upon the approval and direction of the Depositor, include such disclosure information on the
next succeeding Form 10-D to be filed for the Trust. In the event that any previously filed Form 8-K, Form 10-D or Form 10-K needs
to be amended, the Certificate Administrator will notify the Depositor, and such other parties as needed and the parties hereto
will cooperate with the Certificate Administrator to prepare any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A. Any Form 15,
Form 12b-25 or any amendment to Form 8-K, Form 10-D or Form 10-K shall be signed by an officer of the Depositor. The parties to
this Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section 11.03
related to the timely preparation and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, Form 10-D or Form 10-K is
contingent upon the parties observing all applicable deadlines in the performance of their duties under Sections 11.03,
11.04, 11.05, 11.06, 11.07, 11.08, 11.09, 11.10, 11.11 and 11.16
of this Agreement. The Certificate Administrator shall have no liability for any loss, expense, damage, claim arising out of or
with respect to any failure to properly prepare, arrange for execution and/or timely file any such Form 15, Form 12b-25 or any
amendments to Form 8-K, Form 10-D or Form 10-K, where such failure results from the Certificate Administrator’s inability
or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution
or file such Form 15, Form 12b-25 or any amendments to Forms 8-K, Form 10-D or Form 10-K, not resulting from its own negligence,
bad faith or willful misconduct.

 

Section 11.04     Form
10-D Filings.  (a) Within fifteen (15) days after each Distribution Date (subject to permitted extensions under
the Exchange Act), the Certificate Administrator shall prepare and file on behalf of the Trust any Form 10-D required by the Exchange
Act, in form and substance as required by the Exchange Act. The Certificate Administrator shall file each Form 10-D with a copy
of the related Distribution Date Statement attached thereto. Any disclosure in addition to the Distribution Date Statement that
is required to be included on Form 10-D (“Additional Form 10-D Disclosure”) shall, pursuant to the following
paragraph be reported by the parties set forth on Exhibit BB to the Depositor and the Certificate Administrator and approved
by the Depositor, and the Certificate Administrator will have no duty or liability for any failure hereunder to determine or prepare
any Additional Form 10-D Disclosure, absent such reporting, direction and approval.

 

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For so long as the Trust
is subject to the reporting requirements of the Exchange Act, as set forth on Exhibit BB hereto, within five (5) calendar
days after the related Distribution Date, (i) certain parties to this Agreement identified on Exhibit BB hereto shall be
required to provide to the Certificate Administrator and the Depositor (and in the case of any Servicing Function Participant,
with a copy to the Master Servicer), to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be,
has actual knowledge, in EDGAR-Compatible Format, or in such other format as otherwise agreed upon by the Certificate Administrator,
the Depositor and such providing parties, the form and substance of any Additional Form 10-D Disclosure, if applicable; provided,
that information relating to any REO Account to be reported under “Item 8: Other Information” on Exhibit BB
shall be reported by the applicable Special Servicer to the Master Servicer within four (4) calendar days after the related Distribution
Date on Exhibit MM; (ii) the parties listed on Exhibit BB hereto shall include with such Additional Form 10-D Disclosure,
an Additional Disclosure Notification in the form attached hereto as Exhibit EE (except with respect to the reporting of
applicable REO Account balances which shall be delivered in the form of Exhibit MM hereto) and (iii) the Depositor shall
approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form
10-D. Information delivered to the Certificate Administrator hereunder should be delivered by email to cts.sec.notifications@wellsfargo.com
or by facsimile to 410-715-2380, Attn: CTS SEC Notifications. Neither the Trustee nor the Certificate Administrator has any duty
under this Agreement to monitor or enforce the performance by the parties listed on Exhibit BB of their duties under this
paragraph or proactively solicit or procure from such parties any Additional Form 10-D Disclosure information. The Depositor will
be responsible for any reasonable expenses incurred by the Trustee or Certificate Administrator in connection with including any
Additional Form 10-D Disclosure on Form 10-D pursuant to this paragraph.

 

The Certificate Administrator
shall include in any Form 10-D filed by it (i) the information required by Rule 15Ga-1(a) of the Exchange Act concerning all assets
held by the Trust that were subject of a demand for the repurchase of, or the substitution of a Qualified Substitute Mortgage Loan
for, a Mortgage Loan contemplated by Section 2.03(b), (ii) a reference to the most recent Form ABS-15G filed by the Depositor
and the Mortgage Loan Seller, if applicable, and the SEC’s assigned “Central Index Key” for each such filer and
(iii) to the extent such information is provided to the Certificate Administrator by the Master Servicer in the form of Exhibit
MM hereto for inclusion therein within the time period described in this Section 11.04, the balances of the applicable
REO Account (to the extent the related information has been received from the applicable Special Servicer within the time period
specified in Section 11.04 hereof) and the Collection Account as of the related Distribution Date and as of the immediately
preceding Distribution Date and (iv) the balances of the Distribution Accounts, the Gain-on-Sale Reserve Account and the Interest
Reserve Account, in each case as of the related Distribution Date and as of the immediately preceding Distribution Date. The Depositor
and the Mortgage Loan Seller, in accordance with Section 6(b) of the Mortgage Loan Purchase Agreement, shall deliver such information
as described in clause (i) and clause (ii) of this paragraph.

 

Form 10-D requires the
registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter period that the
registrant was required to

 

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file such reports), and (2) has been subject to such filing requirements for the past ninety (90) days.”
The Depositor shall notify the Certificate Administrator in writing via email to cts.sec.notifications@wellsfargo.com, no later
than the 5th calendar day after the related Distribution Date with respect to the filing of a report on Form 10-D if the answer
to the questions should be “no”; provided that if the failure of the Depositor to have filed such required reports
arises in connection with the securitization contemplated by this Agreement then the Certificate Administrator shall be deemed
to have notice of such failure (only with respect to Exchange Act reports prepared or required to be prepared and filed by the
Certificate Administrator) without being notified by the Depositor; provided, further, that in connection with the delivery of
any notice contemplated by this sentence, the Depositor may instruct the Certificate Administrator that such notice shall be effective
for a period (not to exceed 12 months) from the date of such notice, in which case no further notice from the Depositor shall be
required during such specified period. The Certificate Administrator shall be entitled to rely on such notifications in preparing,
executing and/or filing any such report.

 

With respect to any Mortgage
Loan (and the related Trust Subordinate Companion Loan, if applicable) that permits Additional Debt or mezzanine debt in the future,
the Certificate Administrator shall include as part of any applicable Form 10-D filed by it, to the extent such information is
received by the Certificate Administrator from the Master Servicer or the applicable Special Servicer, as applicable, substantially
in the form of Exhibit KK (A) the amount of any such Additional Debt or mezzanine debt, as applicable, that is incurred
during the related Collection Period, (B) the total debt service coverage ratio calculated on the basis of the Mortgage Loan (and
the related Trust Subordinate Companion Loan, if applicable) and such Additional Debt or mezzanine debt, as applicable, and (C)
the aggregate LTV Ratio calculated on the basis of the Mortgage Loan (and the related Trust Subordinate Companion Loan, if applicable)
and such Additional Debt or mezzanine debt, as applicable.

 

The Depositor hereby
directs the Certificate Administrator to include the following individual’s name and phone number on the cover of Form 10-D
for each reporting period: Name: Leah Nivison, Telephone: 212-902-1000. The Certificate Administrator may rely without further
investigation that this information remains correct unless and until the Depositor provides the Certificate Administrator with
a new individual’s name and phone number in writing.

 

Upon receipt of an Asset
Review Report Summary from the Asset Representations Reviewer required to be delivered pursuant to Section 12.01(b), the
Certificate Administrator shall (i) include such Asset Review Report Summary in Item 1B on the Form 10-D for such period in which
such Asset Review Report Summary was delivered, and (ii) post such Asset Review Report Summary to the Certificate Administrator’s
Website not later than two (2) Business Days after receipt of such Asset Review Report Summary from the Asset Representations Reviewer.

 

To the extent the Certificate
Administrator receives a request from any Certificateholder or Certificate Owner to communicate with other Certificateholders or
Certificate Owners pursuant to Section 5.06, the Certificate Administrator shall include under Item 1B on the Form 10-D
relating to the reporting period in which such request was received a Special Notice regarding the request to communicate, and
such Special Notice is required to

 

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include the following and no more than the following: (a) the name of the Certificateholder
or Certificate Owner making the request, (b) the date the request was received, (c) a statement to the effect that the Certificate
Administrator has received such request, stating that such Certificateholder or Certificate Owner is interested in communicating
with other Certificateholders or Certificate Owners with regard to the possible exercise of rights under this Agreement, and (d)
a description of the method other Certificateholders or Certificate Owners may use to contact the requesting Certificateholder
or Certificate Owner.

 

(b)          After
preparing the Form 10-D, the Certificate Administrator shall forward electronically a copy of the Form 10-D to the Depositor for
review no later than ten (10) calendar days after the related Distribution Date or, if the 10th calendar day after the related
Distribution Date is not a Business Day, the immediately preceding Business Day. Within two (2) Business Days after receipt of
such copy, but no later than the two (2) Business Days prior to the 15th calendar day after the Distribution Date, the Depositor
shall notify the Certificate Administrator in writing (which may be furnished electronically) of any changes to or approval of
such Form 10-D and, a duly authorized officer of the Depositor shall sign the Form 10-D and return an electronic or fax copy of
such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Certificate Administrator. Alternatively,
if the Certificate Administrator agrees in its sole discretion, the Depositor may deliver to the Certificate Administrator manually
signed copies of a power of attorney meeting the requirements of Item 601(b)(24) of Regulation S-K under the Securities Act, and
certified copies of a resolution of the Depositor’s board of directors authorizing such power of attorney, each to be filed
with each Form 10-D, in which case the Certificate Administrator shall sign such Forms 10-D as attorney in fact for the Depositor.
If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be amended, the Certificate Administrator will
follow the procedures set forth in Section 11.03(b). Promptly after filing with the Commission, the Certificate Administrator
will make available on its Internet website a final executed copy of each Form 10-D filed by the Certificate Administrator. The
signing party at the Depositor can be contacted at GS Mortgage Securities Corporation II, 200 West Street, New York, New York 10282,
Attention: Leah Nivison, fax number: (212) 428-1439, email: leah.nivison@gs.com, with copies to: Peter Morreale, fax number: (212)
902-3000, email: peter.morreale@gs.com and Joe Osborne, fax number: 212-291-5318, email: joe.osborne@gs.com. The parties to this
Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section 11.04(b) related
to the timely preparation and filing of Form 10-D is contingent upon such parties observing all applicable deadlines in the performance
of their duties under this Section 11.04(b). Neither the Trustee nor the Certificate Administrator shall have any liability
for any loss, expense, damage, or claim arising out of or with respect to any failure to properly prepare, arrange for execution
and/or timely file such Form 10-D, where such failure results from the Certificate Administrator’s inability or failure to
receive, on a timely basis, any information from any party to this Agreement needed to prepare, arrange for execution or file such
Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.

 

Section
11.05 Form 10-K Filings.  (a) Within ninety (90) days after the end of each fiscal year of the Trust (it being
understood that the fiscal year for the Trust ends on December 31 of each year) or such earlier date as may be required by
the Exchange Act (the “10-K Filing Deadline”), commencing in March 2017, the Certificate Administrator
shall prepare and file on behalf of the Trust a Form 10-K, in form and substance as required by the

 

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Exchange Act. Each such
Form 10-K shall include the following items, in each case to the extent they have been delivered to the Certificate
Administrator within the applicable time frames set forth in this Agreement:

 

(i)           an
annual compliance statement for the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator and each
Additional Servicer, as described under Section 11.09;

 

(ii)          (A)
the annual reports on assessment of compliance with servicing criteria for the Trustee, the Master Servicer, the Special Servicers,
the Certificate Administrator, the Custodian, the Operating Advisor, each Additional Servicer and each other Servicing Function
Participant utilized by the Master Servicer, the Special Servicers, the Certificate Administrator, the Operating Advisor, the Custodian
or Trustee, as described under Section 11.10; and

 

(B)          if
any such report on assessment of compliance with servicing criteria described under Section 11.10 identifies any material
instance of noncompliance, disclosure identifying such instance of noncompliance, or if such report on assessment of compliance
with servicing criteria described under Section 11.10 is not included as an exhibit to such Form 10-K, disclosure that such
report is not included and an explanation why such report is not included;

 

(iii)          (A)        
the registered public accounting firm attestation report for the Trustee, the Master Servicer, the Special Servicers, the Certificate
Administrator, the Custodian, the Operating Advisor, each Additional Servicer and each Servicing Function Participant utilized
by the Master Servicer, the Special Servicers, the Certificate Administrator, the Operating Advisor, the Custodian or the Trustee,
as described under Section 11.11; and

 

(B)          if
any registered public accounting firm attestation report described under Section 11.11 identifies any material instance
of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting firm attestation
report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such
report is not included; and

 

(iv)          a
certification in the form attached hereto as Exhibit Y, with such changes as may be necessary or appropriate as a result
of changes promulgated by the Commission (the “Sarbanes-Oxley Certification”), which shall, except as described
below, be signed by the senior officer of the Depositor in charge of securitization.

 

Any disclosure or information in addition
to (i) through (iv) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall,
pursuant to the following paragraph be reported by the parties set forth on Exhibit CC to the Depositor and the Certificate
Administrator and approved by the Depositor and the Certificate Administrator will have no duty or liability for any failure hereunder
to determine or prepare any Additional Form 10-K Disclosure, absent such reporting, direction and approval. Information delivered
to the

 

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Certificate Administrator hereunder should be delivered by email to cts.sec.notifications@wellsfargo.com or by facsimile
to (410) 715-2380, Attn: CTS SEC Notifications.

 

As set forth on Exhibit
CC hereto, no later than March 1st of each year that the Trust is subject to the Exchange Act reporting requirements, commencing
in 2017, (i) the parties listed on Exhibit CC shall be required to provide to the Certificate Administrator and the Depositor,
to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be, has actual knowledge, in EDGAR-Compatible
Format or in such other format as otherwise agreed upon by the Certificate Administrator, the Depositor and such providing parties,
the form and substance of any Additional Form 10-K Disclosure, if applicable, (ii) the parties listed on Exhibit CC hereto
shall include with such Additional Form 10-K Disclosure, an Additional Disclosure Notification in the form attached hereto as Exhibit
EE and (iii) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the
Additional Form 10-K Disclosure on Form 10-K. Neither the Trustee nor the Certificate Administrator has any duty under this Agreement
to monitor or enforce the performance by the parties listed on Exhibit CC of their duties under this paragraph or proactively
solicit or procure from such parties any Additional Form 10-K Disclosure information. The Depositor will be responsible for any
reasonable expenses incurred by the Trustee and the Certificate Administrator in connection with including any Additional Form
10-K Disclosure on Form 10-K pursuant to this paragraph.

 

Form 10-K requires the
registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the preceding twelve (12) months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such filing requirements for the past ninety (90) days.”
The Depositor shall notify the Certificate Administrator in writing via email to cts.sec.notifications@wellsfargo.com, no later
than March 1st with respect to the filing of a report on Form 10-K, if the answer to the questions should be “no”;
provided that if the failure of the Depositor to have filed such required reports arises in connection with the securitization
contemplated by this Agreement then the Certificate Administrator shall be deemed to have notice of such failure (only with respect
to Exchange Act reports prepared or required to be prepared and filed by the Certificate Administrator) without being notified
by the Depositor; provided, further, that in connection with the delivery of any notice contemplated by this sentence, the Depositor
may instruct the Certificate Administrator that such notice shall be effective for a period (not to exceed 12 months) from the
date of such notice, in which case no further notice from the Depositor shall be required during such specified period. The Certificate
Administrator shall be entitled to rely on such notifications in preparing, executing and/or filing any such report.

 

(b)          After
preparing the Form 10-K, the Certificate Administrator shall forward electronically a copy of the Form 10-K to the Depositor for
review no later than six (6) Business Days prior to the 10-K Filing Deadline. Within three (3) Business Days after receipt of such
copy, but no later than March 25th, the Depositor shall notify the Certificate Administrator in writing (which may be furnished
electronically) of any changes to or approval of such Form 10-K and the senior officer in charge of securitization for the Depositor
shall sign the Form 10-K and return an electronic or fax copy of such signed Form 10-K (with an original

 

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executed hard copy to
follow by overnight mail) to the Certificate Administrator at such time. If a Form 10-K cannot be filed on time or if a previously
filed Form 10-K needs to be amended, the Certificate Administrator shall follow the procedures set forth in Section 11.03(b).
Promptly after filing with the Commission, the Certificate Administrator will make available on its Internet website a final executed
copy of each Form 10-K filed by the Certificate Administrator. The signing party at the Depositor can be contacted at GS Mortgage
Securities Corporation II, 200 West Street, New York, New York 10282, Attention: Leah Nivison, fax number: (212) 428-1439, email:
leah.nivison@gs.com, with copies to: Peter Morreale, fax number: (212) 902-3000, email: peter.morreale@gs.com and Joe Osborne,
fax number: 212-291-5318, email: joe.osborne@gs.com. The parties to this Agreement acknowledge that the performance by the Certificate
Administrator of its duties under this Section 11.05 related to the timely preparation and filing of Form 10-K is contingent
upon the parties to this Agreement (and any Additional Servicer or Servicing Function Participant engaged or utilized, as applicable,
by any such parties) observing all applicable deadlines in the performance of their duties under this Section 11.05. Neither
the Trustee nor the Certificate Administrator shall have any liability for any loss, expense, damage, claim arising out of or with
respect to any failure to properly prepare, arrange for execution and/or timely file such Form 10-K, where such failure results
from the Certificate Administrator’s failure to receive, on a timely basis, any information from the parties to this Agreement
(or any Sub-Servicer or Servicing Function Participant engaged by any such parties) needed to prepare, arrange for execution or
file such Form 10-K, not resulting from its own negligence, bad faith or willful misconduct.

 

(c)          Upon
written request from the Mortgage Loan Seller, the Master Servicer or any Special Servicer, the Certificate Administrator shall
confirm to the Mortgage Loan Seller, Master Servicer or the applicable Special Servicer whether it has received notice that any
party to this Agreement has changed since the Closing Date and will provide to the Mortgage Loan Seller, the Master Servicer or
the applicable Special Servicer, if known to the Certificate Administrator, the identity of the new party.

 

Section 11.06 Sarbanes-Oxley
Certification.  Each Form 10-K shall include a Sarbanes-Oxley Certification in the form attached as Exhibit Y required
to be included therewith pursuant to the Sarbanes-Oxley Act. For so long as the Trust is subject to the reporting requirements
of the Exchange Act, the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator, the Custodian, the
Asset Representations Reviewer (in the case of the Asset Representations Reviewer, solely with respect to reporting periods in
which the Asset Representations Reviewer is required to deliver an Asset Review Report) and the Operating Advisor shall provide,
and (i) with respect to each Initial Sub-Servicer engaged by the Master Servicer or the applicable Special Servicer, as applicable,
that is a Servicing Function Participant use commercially reasonable efforts to cause such Initial Sub-Servicer to provide, and
(ii) with respect to each other Servicing Function Participant with which the Master Servicer, the applicable Special Servicer
the Trustee, the Certificate Administrator, the Custodian or the Operating Advisor has entered into a servicing relationship with
respect to the Mortgage Loans (and the Trust Subordinate Companion Loan, if applicable), shall cause such Servicing Function Participant
to provide, to the Person who signs the Sarbanes-Oxley Certification (the “Certifying Person”), on or before
March 1st of each year commencing in March 2017, a certification in the form attached hereto as Exhibits Z-1, Z-2,
Z-3, Z-4, Z-5, Z-6 or Z-7 (each, a “Performance Certification”), as applicable,
on which the Certifying Person, the entity for which the Certifying

 

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Person acts as an officer (if the Certifying Person is an
individual), and such entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification
Parties”) can reasonably rely. In addition, in the event that any Companion Loan (other than a Non-Serviced Companion
Loan) is deposited into a commercial mortgage securitization (an “Other Securitization”) and the Reporting
Servicer is provided with timely and complete contact information for the parties to the other securitizations, each Reporting
Servicer, upon not less than thirty (30) days prior written request, shall provide to the Person who signs the Sarbanes-Oxley
Certification with respect to such Other Securitization a certification in form and substance similar to applicable Performance
Certification (which shall address the matters contained in the applicable Performance Certification, but solely with respect
to the related Companion Loan) on which Person, the entity for which the Person acts as an officer (if the Person is an individual),
and such entity’s officers, directors and Affiliates can reasonably rely. With respect to any Non-Serviced Companion Loan,
the Certificate Administrator will use its reasonable efforts to procure a Sarbanes-Oxley Certification from the applicable Non-Serviced
Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar to a Performance Certification.
The senior officer in charge of securitization for the Depositor shall serve as the Certifying Person on behalf of the Trust.
In addition, each Reporting Servicer shall execute a reasonable reliance certificate (which may be included as part of such other
certifications being delivered by such Reporting Servicer) to enable the Certification Parties to rely upon each (i) annual compliance
statement provided pursuant to Section 11.09, if applicable, (ii) annual report on assessment of compliance with servicing
criteria provided pursuant to Section 11.10 and (iii) accountant’s report provided pursuant to Section 11.11,
and shall include a certification that each such annual compliance statement or report discloses any deficiencies or defaults
described to the registered public accountants of such Reporting Servicer to enable such accountants to render the certificates
provided for in Section 11.11. In the event any Reporting Servicer is terminated or resigns pursuant to the terms of this
Agreement, or any applicable Sub-Servicing Agreement or primary servicing agreement, as the case may be, such Reporting Servicer
shall provide a certification to the Certifying Person pursuant to this Section 11.06 with respect to the period of time
it was subject to this Agreement or the applicable sub-servicing or primary servicing agreement, as the case may be. Each such
Performance Certification shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor,
the Certificate Administrator and such providing parties. Notwithstanding the foregoing, nothing in this Section 11.06
shall require any Reporting Servicer (i) to certify or verify the accurateness or completeness of any information provided to
such Reporting Servicer by third parties (including a Significant Obligor, but other than an Additional Servicer or a Sub-Servicer
appointed pursuant to Section 3.20), (ii) to certify information other than to such Reporting Servicer’s knowledge
and in accordance with such Reporting Servicer’s responsibilities hereunder or (iii) with respect to completeness of information
and reports, to certify anything other than that all fields of information called for in written reports prepared by such Reporting
Servicer have been completed except as they have been left blank on their face.

 

Notwithstanding anything
to the contrary contained in this Section 11.06, with respect to each year in which the Trust is not subject to the reporting
requirements of the Exchange Act, none of the parties required to deliver any certification under this Section 11.06 shall
be obligated to do so.

 

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Section 11.07 Form
8-K Filings.  Within four (4) Business Days after the occurrence of an event requiring disclosure on Form 8-K (each such event,
a “Reportable Event”), and if requested by the Depositor and to the extent it receives the Form 8-K Disclosure
Information described below, the Certificate Administrator shall prepare and file on behalf of the Trust any Form 8-K, as required
by the Exchange Act, provided that the Depositor shall file the initial Form 8-K in connection with the issuance of the
Certificates. Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form
8-K (“Form 8-K Disclosure Information”) shall, pursuant to the following paragraph be reported by the parties
set forth on Exhibit DD to the Depositor and the Certificate Administrator and approved by the Depositor, and the Certificate
Administrator will have no duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information
or any Form 8-K, absent such reporting, direction and approval.

 

As set forth on Exhibit
DD hereto, for so long as the Trust is subject to the Exchange Act reporting requirements, no later than close of business,
New York City time, on the 2nd Business Day after the occurrence of a Reportable Event (i) the parties set forth on Exhibit
DD hereto shall be required to provide to the Depositor and the Certificate Administrator, to the extent a Regulation AB Servicing
Officer or Responsible Officer, as the case may be, has actual knowledge, in EDGAR-Compatible Format or in such other format agreed
upon by the Depositor, the Certificate Administrator and such providing parties any Form 8-K Disclosure Information, if applicable,
(ii) the parties listed on Exhibit DD hereto shall include with such Form 8-K Disclosure Information, an Additional Disclosure
Notification in the form attached hereto as Exhibit EE and (iii) the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information on Form 8-K. Neither the Trustee nor the Certificate
Administrator has any duty under this Agreement to monitor or enforce the performance by the parties listed on Exhibit DD
of their duties under this paragraph or proactively solicit or procure from such parties any Form 8-K Disclosure Information. The
Depositor will be responsible for any reasonable expenses incurred by the Trustee and the Certificate Administrator in connection
with including any Form 8-K Disclosure Information on Form 8-K pursuant to this paragraph. Information delivered to the Certificate
Administrator hereunder should be delivered by email to cts.sec.notifications@wellsfargo.com or by facsimile to (410) 715-2380,
Attn: CTS SEC Notifications.

 

After preparing the Form
8-K, the Certificate Administrator shall forward electronically a copy of the Form 8-K to the Depositor for review no later than
noon, New York City time, on the 3rd Business Day after the Reportable Event, but in no event earlier than 24 hours after having
received the Form 8-K Disclosure Information pursuant to the immediately preceding paragraph. Promptly, but no later than the close
of business on the 3rd Business Day after the Reportable Event, the Depositor shall notify the Certificate Administrator in writing
(which may be furnished electronically) of any changes to or approval of such Form 8-K. No later than noon, New York City time,
on the 4th Business Day after the Reportable Event, a duly authorized officer of the Depositor shall sign the Form 8-K and return
an electronic or fax copy of such signed Form 8-K (with an original executed hard copy to follow by overnight mail) to the Certificate
Administrator. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs to be amended, the Certificate Administrator
will follow the procedures set forth in Section 11.03(b). Promptly after filing with the Commission, the Certificate Administrator

 

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will, make available on its Internet website a final executed copy of each Form 8-K filed by the Certificate Administrator. The
signing party at the Depositor can be contacted at GS Mortgage Securities Corporation II, 200 West Street, New York, New York 10282,
Attention: Leah Nivison, fax number: (212) 428-1439, email: leah.nivison@gs.com, with copies to: Peter Morreale, fax number: (212)
902-3000, email: peter.morreale@gs.com and Joe Osborne, fax number: 212-291-5318, email: joe.osborne@gs.com. The parties to this
Agreement acknowledge that the performance by the Certificate Administrator of its duties under this Section 11.07 related
to the timely preparation and filing of Form 8-K is contingent upon such parties observing all applicable deadlines in the performance
of their duties under this Section 11.07. Neither the Trustee nor the Certificate Administrator shall have any liability
for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, arrange for execution and/or
timely file such Form 8-K, where such failure results from the Certificate Administrator’s inability or failure to receive,
on a timely basis, any information from the parties to this Agreement needed to prepare, arrange for execution or file such Form
8-K, not resulting from its own negligence, bad faith or willful misconduct.

 

The Master Servicer,
the Special Servicers, the Certificate Administrator and the Trustee shall promptly notify (and the Master Servicer shall (i) with
respect to each Initial Sub-Servicer that is an Additional Servicer engaged by such Master Servicer use commercially reasonable
efforts to cause such Additional Servicer to promptly notify and (ii) with respect to each other Additional Servicer with which
it has entered into a servicing relationship with respect to the Mortgage Loans (and the Trust Subordinate Companion Loan, if applicable)
(other than a party to this Agreement) cause such Additional Servicer to promptly notify) the Depositor and the Certificate Administrator,
but in no event later than noon, New York City time, on the 2nd Business Day after its occurrence, of any Reportable Event applicable
to such party to the extent a Regulation AB Servicing Officer or Responsible Officer, as the case may be, has actual knowledge,
in EDGAR-Compatible Format.

 

Notwithstanding anything
to the contrary in this Section 11.07, with respect to each year in which the Trust is not subject to the reporting requirements
of the Exchange Act, none of the parties hereto are required to deliver Form 8-K Disclosure Information.

 

Section
11.08 Form 15 Filing.  On or prior to January 30th of the first year in which the Depositor shall provide
notice to the Certificate Administrator of its ability under applicable law to suspend its Exchange Act filings, the
Certificate Administrator shall prepare and file a notification relating to the automatic suspension of reporting in respect
of the Trust under the Exchange Act (the “Form 15 Suspension Notification”) or any form necessary to be
filed with the Commission to suspend such reporting obligations. With respect to any reporting period occurring after the
filing of such form, the obligations of the parties to this Agreement under Section 11.04, Section 11.05 and Section
11.07 shall be suspended and reports or certifications due under Section 11.09, 11.10 and 11.11
shall not be due until April 15th of each year. The Certificate Administrator shall provide prompt notice to the Mortgage
Loan Seller and all other parties hereto that such form has been filed. If, after the filing of a Form 15 Suspension
Notification, the Depositor shall provide notice to the Certificate Administrator that it is required to resume its Exchange
Act filings, the Certificate Administrator shall recommence preparing and filing reports on Forms 10-K, 10-D and 8-K as
required pursuant to Section 11.04,

 

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Section 11.05 and Section 11.07, and all parties’
obligations under this Article XI shall recommence.

 

Section 11.09 Annual
Compliance Statements.  The Master Servicer, the Special Servicers (regardless of whether the applicable Special Servicer has
commenced special servicing of a Mortgage Loan or Trust Subordinate Companion Loan), the Custodian, the Trustee (provided,
however, that the Trustee shall not be required to deliver an assessment of compliance with respect to any period during
which there was no Relevant Servicing Criteria applicable to it) and the Certificate Administrator (each, a “Certifying
Servicer”) shall (and each such party shall (i) with respect to each Additional Servicer engaged by the Certifying Servicer
that is an Initial Sub-Servicer, cause (or in the case of a sub-servicer that is an Additional Servicer that a Mortgage Loan Seller
requires the Master Servicer to retain, to use commercially reasonable efforts to cause) such Additional Servicer to and (ii)
with respect to each other Additional Servicer with which it has entered into a servicing relationship with respect to the Mortgage
Loans (and the Trust Subordinate Companion Loan, if applicable), cause such Additional Servicer to), on or before March 1st of
each year, commencing in March 2017, furnish to the Trustee, the Certificate Administrator (which copy shall be deemed furnished
by the Certificate Administrator when made available on its Internet website), the Depositor and the 17g-5 Information Provider
(who shall post to the 17g-5 Information Provider’s Website), an Officer’s Certificate, in the form attached hereto
as Exhibit HH (or such other form, similar in substance, as may be reasonably acceptable to the Depositor) stating, as
to the signer thereof, that (A) a review of such Certifying Servicer’s activities during the preceding calendar year or
portion thereof and of such Certifying Servicer’s performance under this Agreement, or the applicable Sub-Servicing Agreement
or primary servicing agreement in the case of an Additional Servicer, has been made under such officer’s supervision and
(B) to the best of such officer’s knowledge, based on such review, such Certifying Servicer has fulfilled all its obligations
under this Agreement, or the applicable Sub-Servicing Agreement or primary servicing agreement in the case of an Additional Servicer,
in all material respects throughout such year or portion thereof, or, if there has been a failure to fulfill any such obligation
in any material respect, specifying each such failure known to such officer and the nature and status thereof. Such Officer’s
Certificate shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor, the Certificate
Administrator and such providing parties. Each Certifying Servicer shall (i) with respect to each Additional Servicer engaged
by such Certifying Servicer that is an Initial Sub-Servicer, cause (or, in the case of a sub-servicer that is an Additional Servicer
that a Mortgage Loan Seller requires the Master Servicer to retain, to use commercially reasonable efforts to cause) such Additional
Servicer, and (ii) with respect to each other Additional Servicer with which it has entered into a servicing relationship with
respect to the Mortgage Loans or the Trust Subordinate Companion Loans, cause such Additional Servicer to forward a copy of each
such statement (or, in the case of the Certificate Administrator, make a copy of each such statement available on its Internet
website) to the Directing Holder and the 17g-5 Information Provider. With respect to any Non-Serviced Companion Loan, the Certificate
Administrator will use its reasonable efforts to procure such Officer’s Certificate from the applicable Non-Serviced Master
Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee in form and substance similar to the form attached hereto as
Exhibit HH. Promptly after receipt of each such Officer’s Certificate, the Depositor may review each such Officer’s
Certificate and, if applicable, consult with the Certifying Servicer as to the nature of any failures by the Certifying Servicer
or any related Additional Servicer with which the Certifying Servicer

 

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has entered into a servicing relationship with respect to
the Mortgage Loans in the fulfillment of any of the Certifying Servicer’s or Additional Servicer’s obligations hereunder
or under the applicable sub-servicing or primary servicing agreement. The obligations of the Certifying Servicer and each Additional
Servicer under this Section 11.09 apply to the Certifying Servicer and each Additional Servicer that serviced a Mortgage
Loan or Trust Subordinate Companion Loan during the applicable period, whether or not such Certifying Servicer or Additional Servicer
is acting as the Master Servicer, a Special Servicer, the Trustee, the Certificate Administrator or Additional Servicer at the
time such Officer’s Certificate is required to be delivered. None of the Master Servicer, Special Servicers or Additional
Servicer shall be required to cause the delivery of any such statement until April 15 in any given year so long as it has received
written confirmation from the Depositor that a report on Form 10-K is not required to be filed in respect of the Trust for the
preceding calendar year.

 

In the event the Master
Servicer, any Special Servicer, the Trustee or the Certificate Administrator is terminated or resigns pursuant to the terms of
this Agreement, such party shall provide, and each of the Master Servicer and the applicable Special Servicer shall (i) with respect
to an Initial Sub-Servicer engaged by such party that is an Additional Servicer that resigns or is terminated under any applicable
servicing agreement, use its reasonable efforts to cause such Additional Servicer to provide and (ii) with respect to any other
Additional Servicer engaged by such party that resigns or is terminated under any applicable servicing agreement, cause such Additional
Servicer to provide, an annual statement of compliance pursuant to this Section 11.09 with respect to the period of time
that the Master Servicer, the applicable Special Servicer, the Trustee or the Certificate Administrator was subject to this Agreement
or the period of time that such Additional Servicer was subject to such other servicing agreement.

 

Section 11.10 Annual
Reports on Assessment of Compliance with Servicing Criteria.  (a) On or before March 1st of each year, commencing in March 2017,
the Master Servicer, the Special Servicers (regardless of whether the applicable Special Servicer has commenced special servicing
of the Mortgage Loans or Trust Subordinate Companion Loan), the Trustee (provided, however, that the Trustee shall
not be required to deliver an assessment of compliance with respect to any period during which there was no Relevant Servicing
Criteria applicable to it), the Custodian, the Operating Advisor and the Certificate Administrator, each at its own expense, shall
furnish (and each such party shall (i) with respect to each Initial Sub-Servicer engaged by such Master Servicer, Trustee, Operating
Advisor, Custodian or Certificate Administrator that is a Servicing Function Participant, use commercially reasonable efforts
to cause such Servicing Function Participant to furnish and (ii) with respect to each other Servicing Function Participant with
which it has entered into a servicing relationship with respect to the Mortgage Loans (and the Trust Subordinate Companion Loan,
if applicable), cause such Servicing Function Participant to furnish) to the Trustee, the Certificate Administrator, the Depositor
(which copy shall be deemed furnished by the Certificate Administrator when made available on its Internet website) (and, with
respect to the Special Servicers, also to the Operating Advisor), and the 17g-5 Information Provider, a report substantially in
the form of Exhibit II or such other form provided by such Reporting Servicer that complies in all material respects with
the requirements of Item 1122 of Regulation AB, on an assessment of compliance with the Servicing Criteria applicable to it that
contains (A) a statement by such Reporting Servicer of its responsibility for assessing compliance with the Relevant Servicing
Criteria, (B) a statement that

 

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such Reporting Servicer used the Relevant Servicing Criteria to assess compliance
with the Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the Relevant Servicing
Criteria as of and for the period ending the end of the fiscal year covered by the Form 10-K required to be filed pursuant to Section
11.05, including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion
of each such failure and the nature and status thereof, and (D) a statement that a registered public accounting firm has issued
an attestation report on such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and
for such period. With respect to any Non-Serviced Companion Loan, the Certificate Administrator will use its reasonable efforts
to procure such report from the applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer and Non-Serviced Trustee
in form and substance similar to the form attached hereto as Exhibit II. Such report shall be provided in EDGAR-Compatible
Format, or in such other format agreed upon by the Depositor, the Certificate Administrator and the Reporting Servicer.

 

Each such report shall
be addressed to the Depositor and signed by an authorized officer of the applicable company, and shall address the Relevant Servicing
Criteria specified on a certification substantially in the form of Exhibit AA hereto delivered to the Depositor on the Closing
Date. Promptly after receipt of each such report, (i) the Depositor may review each such report and, if applicable, consult with
each Reporting Servicer as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria applicable
to it (and each Servicing Function Participant engaged or utilized by each Reporting Servicer, as applicable), and (ii) the Certificate
Administrator shall confirm that the assessments taken individually address the Relevant Servicing Criteria for each party as set
forth on Exhibit AA and notify the Depositor of any exceptions. None of the Master Servicer, the Special Servicers, the
Certificate Administrator, the Trustee, the Operating Advisor or any Servicing Function Participant shall be required to cause
the delivery of any such assessments until April 15th in any given year so long as it has received written confirmation from the
Depositor that a report on Form 10-K is not required to be filed in respect of the Trust for the preceding calendar year.

 

Notwithstanding the foregoing,
at any time that the Certificate Administrator and the Trustee are the same entity, the Certificate Administrator and Trustee may
provide a combined assessment of compliance required pursuant to this Section 11.10(a) in respect of their combined Relevant
Servicing Criteria as set forth on Exhibit AA hereto.

 

(b)          The
Master Servicer, the Special Servicers, the Trustee, the Operating Advisor and the Certificate Administrator hereby acknowledge
and agree that the Relevant Servicing Criteria set forth on Exhibit AA is appropriately set forth with respect to such party
and any Servicing Function Participant with which the Master Servicer, Special Servicers, Trustee, Operating Advisor or Certificate
Administrator has entered into a servicing relationship.

 

(c)          No
later than ten (10) Business Days after the end of each fiscal year for the Trust, the Master Servicer and any Special Servicer
shall notify the Certificate Administrator, the Depositor and the Mortgage Loan Seller as to the name of each Additional Servicer
engaged by it and each Servicing Function Participant utilized by it, in each case other than with respect to any Initial Sub-Servicer,
and the Trustee, the Operating Advisor and the Certificate Administrator shall notify the Depositor and the Mortgage Loan Seller
as to the name of each Servicing Function Participant utilized by it, in each case by providing an updated Exhibit GG,

 

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and
each such notice (except to a Mortgage Loan Seller) will specify what specific Servicing Criteria will be addressed in the report
on assessment of compliance prepared by such Servicing Function Participant. When the Master Servicer, the Special Servicers, the
Trustee, the Certificate Administrator and the Operating Advisor submit their assessments pursuant to Section 11.10(a),
the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator and the Operating Advisor, as applicable,
will also at such time include the assessment (and related attestation pursuant to Section 11.11) of each Servicing Function
Participant engaged by it.

 

In the event the Master
Servicer, the Special Servicers, the Trustee, the Operating Advisor, the Custodian or the Certificate Administrator is terminated
or resigns pursuant to the terms of this Agreement, such party shall provide, and each such party shall cause any Servicing Function
Participant engaged by it to provide (and each of the Master Servicer and the applicable Special Servicer shall (i) with respect
to an Initial Sub-Servicer engaged by such Master Servicer or applicable Special Servicer that is an Additional Servicer that resigns
or is terminated under any applicable servicing agreement, use its reasonable efforts to cause such Additional Servicer and (ii)
with respect to any other Additional Servicer that resigns or is terminated under any applicable servicing agreement, cause such
Additional Servicer to provide) an annual assessment of compliance pursuant to this Section 11.10, coupled with an attestation
as required in Section 11.11 with respect to the period of time that the Master Servicer, the Special Servicers, the Trustee,
the Operating Advisor, the Custodian or the Certificate Administrator was subject to this Agreement or the period of time that
the Additional Servicer was subject to such other servicing agreement.

 

(d)          The
Operating Advisor may at any time request from the Certificate Administrator confirmation of whether a Control Termination Event
or Consultation Termination Event occurred during the previous calendar year, and upon such request the Certificate Administrator
shall deliver such confirmation to the Operating Advisor within fifteen (15) days of such request.

 

Section 11.11 Annual
Independent Public Accountants’ Attestation Report.  On or before March 1st of each year, commencing in March 2017, the
Master Servicer, the applicable Special Servicer, the Trustee, the Custodian, the Operating Advisor and the Certificate Administrator,
each at its own expense, shall cause (and each such party shall (i) with respect to each Initial Sub-Servicer engaged by such
Master Servicer, Special Servicers, Trustee, Operating Advisor or Certificate Administrator that is a Servicing Function Participant
use commercially reasonable efforts to cause such Servicing Function Participant to cause and (ii) with respect to each other
Servicing Function Participant with which it has entered into a servicing relationship with respect to the Mortgage Loans (and
the Trust Subordinate Companion Loan, if applicable), cause such Servicing Function Participant to cause) a registered public
accounting firm (which may also render other services to the Master Servicer, the Special Servicers, the Trustee, the Certificate
Administrator, the Custodian, the Operating Advisor or the applicable Servicing Function Participant, as the case may be) and
that is a member of the American Institute of Certified Public Accountants to furnish a report to the Trustee (who will promptly
post such report on the Certificate Administrator’s Website pursuant to Section 3.13(b)), the Certificate Administrator,
the Depositor, the 17g-5 Information Provider and, prior to the occurrence of a Consultation Termination Event, the Directing
Holder, and, promptly, but not earlier than the

 

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second Business Day following the delivery of such report to the 17g-5 Information
Provider, to the Rating Agencies, to the effect that (i) it has obtained a representation regarding certain matters from the management
of such Reporting Servicer, which includes an assertion that such Reporting Servicer has complied with the Relevant Servicing
Criteria applicable to it and (ii) on the basis of an examination conducted by such firm in accordance with standards for attestation
engagements issued or adopted by the PCAOB, it is issuing an opinion as to whether such Reporting Servicer’s assessment
of compliance with the Relevant Servicing Criteria applicable to it was fairly stated in all material respects. In the event that
an overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was unable to
express such an opinion. Each such related accountant’s attestation report shall be made in accordance with Rules 1-02(a)(3)
and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. Such report must be available for general use and
not contain restricted use language. With respect to any Non-Serviced Companion Loan, the Certificate Administrator will use its
reasonable efforts to procure such report from the applicable Non-Serviced Master Servicer, Non-Serviced Special Servicer and
Non-Serviced Trustee. Copies of such statement will be provided by the Certificate Administrator in accordance with Section
3.13(b). Such report shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Depositor, the
Certificate Administrator and the providing parties.

 

Promptly after receipt
of such report from the Master Servicer, any Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor,
the Custodian or any Servicing Function Participant, (i) the Depositor may review the report and, if applicable, consult with the
Master Servicer, the applicable Special Servicer, the Trustee, the Operating Advisor, the Custodian or the Certificate Administrator
as to the nature of any defaults by the Master Servicer, the Special Servicers, the Trustee, the Operating Advisor, the Custodian,
the Certificate Administrator or any Servicing Function Participant with which it has entered into a servicing relationship with
respect to the Mortgage Loans (and the Trust Subordinate Companion Loan, if applicable), as the case may be, in the fulfillment
of any of the Master Servicer’s, the applicable Special Servicer’s, the Trustee’s, the Certificate Administrator’s,
the Operating Advisor’s, the Custodian’s or the applicable Servicing Function Participants’ obligations hereunder
or under the applicable sub servicing or primary servicing agreement, and (ii) the Certificate Administrator shall confirm that
each accountants’ attestation report submitted pursuant to this Section 11.11 relates to an assessment of compliance
meeting the requirements of Section 11.10 and notify the Depositor of any exceptions. None of the Master Servicer, the Special
Servicers, the Trustee, the Certificate Administrator, the Operating Advisor, the Custodian nor any Additional Servicer shall be
required to deliver, or shall be required to cause the delivery of such reports until April 15th in any given year so long as it
has received written confirmation from the Depositor that a Form 10-K is not required to be filed with respect to the Trust for
the preceding fiscal year.

 

Section 11.12 Indemnification.  Each
of the Master Servicer, the Special Servicers, the Trustee, the Certificate Administrator, the Custodian, the Asset Representations
Reviewer and the Operating Advisor shall indemnify and hold harmless each Certification Party and each Other Depositor (and such
Other Depositor’s officers, directors and Affiliates) from and against any claims, losses, damages, penalties, fines, forfeitures,
legal fees and expenses and related costs, judgments and other costs and expenses incurred by such Certification Party or Other
Depositor (or such Other Depositor’s officers, directors and Affiliates), as applicable, arising out of (i) an actual breach
by the Master Servicer, such Special Servicer, the Trustee, the

 

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Operating Advisor, the Custodian, the Asset Representations Reviewer
or the Certificate Administrator, as the case may be, of its obligations under this Article XI, (ii) negligence, bad faith
or willful misconduct on the part of the Master Servicer, such Special Servicer, the Trustee, the Operating Advisor, the Custodian,
the Asset Representations Reviewer or the Certificate Administrator in the performance of such obligations, or (iii) delivery
of any Deficient Exchange Act Deliverable.

 

The Master Servicer,
the Trustee, the Operating Advisor and the Certificate Administrator shall (i) with respect to any Initial Sub-Servicer engaged
by the Master Servicer, the Trustee or Certificate Administrator that is a Servicing Function Participant or Additional Servicer,
use commercially reasonable efforts to cause such party to, and (ii) with respect to each other Additional Servicer and each Servicing
Function Participant with which, in each case, it has entered into a servicing relationship with respect to the Mortgage Loans
(and the Trust Subordinate Companion Loan, if applicable), cause such party to, in each case, indemnify and hold harmless each
Certification Party and each Other Depositor (and such Other Depositor’s officers, directors and Affiliates) from and against
any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and any
other costs, fees and expenses incurred by such Certification Party or Other Depositor (or such Other Depositor’s officers,
directors and Affiliates), as applicable, arising out of (a) a breach of its obligations to provide any of the annual compliance
statements or annual assessment of compliance with the servicing criteria or attestation reports pursuant to the applicable sub-servicing
or primary servicing agreement, (b) negligence, bad faith or willful misconduct on its part in the performance of such obligations,
(c) any failure by it, as a Servicer (as defined in Section 11.02(b)) to identify a Servicing Function Participant pursuant
to Section 11.02(c), (c) or (d) delivery of any Deficient Exchange Act Deliverable.

 

In addition, each of
the Master Servicer, the Special Servicers, the Operating Advisor, the Custodian, the Certificate Administrator, the Asset Representations
Reviewer and the Trustee shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it
to cooperate under the applicable Sub-Servicing Agreement) with the Depositor (and each Other Depositor) as necessary for the Depositor
(and each Other Depositor) to conduct any reasonable due diligence necessary to evaluate and assess any material instances of non-compliance
disclosed in any of the deliverables required by the applicable reporting requirements under the Securities Act, the Exchange Act,
the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder (“Reporting Requirements”).

 

In connection with comments
provided to the Depositor from the Commission or its staff regarding information (x) delivered by the Master Servicer, the Special
Servicers, the Operating Advisor, the Custodian, the Certificate Administrator, the Trustee, a Servicing Function Participant,
the Asset Representations Reviewer or an Additional Servicer, as applicable (“Affected Reporting Party”), (y)
regarding such Affected Reporting Party, and (z) prepared by such Affected Reporting Party or any registered public accounting
firm, attorney or other agent retained by such Affected Reporting Party to prepare such information, which information is contained
in a report filed by the Depositor under the Reporting Requirements and which comments are received subsequent to the Depositor’s
filing of such report, the Depositor shall promptly provide to such Affected Reporting Party any such comments which relate to
such Affected Reporting Party. Such Affected Reporting Party shall be responsible for timely

 

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preparing a written response to the
Commission or its staff for inclusion in the Depositor’s response to the Commission or its staff, unless such Affected Reporting
Party elects, with the consent of the Depositor (which consent shall not be unreasonably denied, withheld or delayed), to directly
communicate with the Commission or its staff and negotiate a response and/or resolution with the Commission or its staff; provided,
however, if an Affected Reporting Party is a Servicing Function Participant or Additional Servicer retained by the Master
Servicer, the Master Servicer shall receive copies of all material communications pursuant to this Section 11.12. If such
election is made, the applicable Affected Reporting Party shall be responsible for directly negotiating such response and/or resolution
with the Commission or its staff in a timely manner; provided, that (i) such Affected Reporting Party shall use reasonable
efforts to keep the Depositor informed of its progress with the Commission or its staff and copy the Depositor on all correspondence
with the Commission or its staff and provide the Depositor with the opportunity to participate (at the Depositor’s expense)
in any telephone conferences and meetings with the Commission or its staff and (ii) the Depositor shall cooperate with any Affected
Reporting Party in order to authorize such Affected Reporting Party and its representatives to respond to and negotiate directly
with the Commission or its staff with respect to any comments from the Commission or its staff relating to such Affected Reporting
Party and to notify the Commission or its staff of such authorization. The Depositor and the Affected Reporting Party shall cooperate
and coordinate with one another with respect to any requests made to the Commission or its staff for extension of time for submitting
a response or compliance. All respective reasonable out-of-pocket costs and expenses incurred by the Depositor (including reasonable
legal fees and expenses of outside counsel to the Depositor) in connection with the foregoing (other than those costs and expenses
required to be at the Depositor’s expense as set forth above) and any amendments to any reports filed with the Commission
or its staff related thereto shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice
from the Depositor. Each of the Master Servicer, the Special Servicers, the Operating Advisor, the Custodian, the Certificate Administrator
and the Trustee shall (i) with respect to any Initial Sub-Servicer engaged by it that is a Servicing Function Participant or Additional
Servicer, use commercially reasonable efforts to cause such party to, and (ii) with respect to each other Additional Servicer and
each Servicing Function Participant with which, in each case, it has entered into a servicing relationship with respect to the
Mortgage Loans (and the Trust Subordinate Companion Loan, if applicable), cause such party to, comply with the foregoing by inclusion
of similar provisions in the related sub-servicing or similar agreement.

 

If the indemnification
provided for herein is unavailable or insufficient to hold harmless any Certification Party, then the Master Servicer, the applicable
Special Servicer, the Trustee, the Certificate Administrator, the Custodian or the Operating Advisor (the “Performing
Party”) shall contribute to the amount paid or payable to the Certification Party as a result of the losses, claims,
damages or liabilities of the Certification Party in such proportion as is appropriate to reflect the relative fault of the Certification
Party on the one hand and the Performing Party on the other in connection with a breach of the Performing Party’s obligations
pursuant to Sections 11.06, 11.09 (if applicable), 11.10, 11.11 (or breach of its obligations under
the applicable sub-servicing or primary servicing agreement to provide any of the annual compliance statements or annual servicing
criteria compliance reports or attestation reports) or the Performing Party’s negligence, bad faith or willful misconduct
in connection therewith. The Master Servicer, the Trustee, the Operating Advisor and the Certificate Administrator shall

 

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(i) with
respect to any Initial Sub-Servicer engaged by the Master Servicer, the Trustee or Certificate Administrator that is a Servicing
Function Participant or Additional Servicer, use commercially reasonable efforts to cause such party to, and (ii) with respect
to each other Additional Servicer or Servicing Function Participant, in each case, with which it has entered into a servicing relationship
with respect to the Mortgage Loans (and the Trust Subordinate Companion Loan, if applicable) cause such party, in each case, to
agree to the foregoing indemnification and contribution obligations. This Section 11.12 shall survive the termination of
this Agreement or the earlier resignation or removal of the Master Servicer, any Special Servicer, the Trustee, the Operating Advisor,
the Custodian or the Certificate Administrator.

 

In connection with Deficient
Exchange Act Deliverables, each of the Master Servicer, the Special Servicers, 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 each Other Depositor (including, without limitation, providing all due diligence
information, reports, written responses, negotiations and coordination) to the same extent as such party is required to cooperate
with the Depositor under this Section 11.12. All respective reasonable out-of-pocket costs and expenses incurred by each
Other Depositor (including reasonable legal fees and expenses of outside counsel to such depositor) in connection with a Deficient
Exchange Act Deliverable (other than those costs and expenses related to participation by such Other Depositor in any telephone
conferences and meetings with the Commission and other costs the Other Depositor must bear pursuant to this Section 11.12)
and any amendments to any reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting
Party to the Other Depositor to the same extent as would be required to be paid to the Depositor under this Section 11.12
upon receipt of an itemized invoice from such Other Depositor.

 

Section 11.13 Amendments.  This
Article XI may be amended with the written consent of the parties hereto pursuant to Section 13.01 for purposes
of complying with Regulation AB and/or to conform to standards developed within the commercial mortgage-backed securities market
and the Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates, Rating Agency Confirmation with respect
to the Certificates or, with respect to any Serviced Companion Loan Securities, a confirmation of the rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25), or the consent of any Certificateholder, notwithstanding anything
to the contrary contained in this Agreement; provided that the reports and certificates required to be prepared pursuant
to Sections 3.13, 11.09, 11.10 and 11.11 shall not be eliminated without Rating Agency Confirmation
with respect to the Certificates or, with respect to any Serviced Companion Loan Securities, without a confirmation of the rating
agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings (provided
that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may
be considered satisfied with respect to the Certificates pursuant to Section 3.25).

 

Section 11.14 Regulation
AB Notices.  Any notice, report or certificate required to be delivered by any of the Master Servicer, the Special Servicers,
the Certificate

 

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Administrator, the Operating Advisor, the Asset Representations Reviewer, the Custodian or the Trustee, as the
case may be, to the Depositor pursuant to this Article XI may be delivered via email (and additionally delivered via phone
or telecopy), notwithstanding the provisions of Section 13.05, to GS Mortgage Securities Corporation II, 200 West Street,
New York, New York 10282, Attention: Leah Nivison, fax number: (212) 428-1439, email: leah.nivison@gs.com, with copies to: Peter
Morreale, fax number: (212) 902-3000, email: peter.morreale@gs.com and Joe Osborne, fax number: (212) 291-5318, email: joe.osborne@gs.com.

 

Section 11.15 Certain
Matters Relating to the Future Securitization of the Serviced Pari Passu Companion Loans.  (a) Each of the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicers shall, and the Master Servicer and the applicable Special Servicer
shall use commercially reasonable efforts to cause any sub-servicer appointed with respect to any Serviced Pari Passu Companion
Loan to, upon written request or notice from a Mortgage Loan Seller (or a permitted transferee of the Mortgage Loan Seller pursuant
to the related Co-Lender Agreement), reasonably cooperate with the Mortgage Loan Seller (or such permitted transferee) selling
any Serviced Pari Passu Companion Loan into a securitization that is required to comply with Regulation AB (a “Regulation
AB Companion Loan Securitization”) and, to the extent needed in order to comply with Regulation AB, provide to the Mortgage
Loan Seller (or such permitted transferee) information about itself that the Mortgage Loan Seller reasonably requires to meet
the requirements of Items 1117 and 1119 and paragraphs (b), (c)(3), (c)(4) and (c)(5) of Item 1108 of Regulation AB and shall
reasonably cooperate with the Mortgage Loan Seller to provide such other information as may be reasonably necessary to comply
with the requirements of Regulation AB. Each of the Trustee, the Certificate Administrator, the Master Servicer and any Special
Servicer understands that such information may be included in the offering material related to a Regulation AB Companion Loan
Securitization and agrees to (i) negotiate in good faith an agreement (subject to the final sentence of this sub-section) to indemnify
and hold the related depositor and underwriters involved in the offering of the related Certificates harmless for any costs, liabilities,
fees and expenses incurred by the depositor or such underwriters as a result of any material misstatements or omissions or alleged
material misstatements or omissions in any such offering material to the extent that such material misstatement or omission was
made in reliance upon any such information provided by the Trustee (where such information pertains to the Trustee individually
and not to any specific aspect of the Trustee’s duties or obligations under this Agreement), the Certificate Administrator
(where such information pertains to the Certificate Administrator individually and not to any specific aspect of the Certificate
Administrator’s duties or obligations under this Agreement), the Master Servicer (where such information pertains to the
Master Servicer individually and not to any specific aspect of the Master Servicer’s duties or obligations under this Agreement)
and the Special Servicers (where such information pertains to the applicable Special Servicer individually and not to any specific
aspect of the applicable Special Servicer’s duties or obligations under this Agreement), as applicable, to such depositor,
underwriters or Mortgage Loan Seller (or permitted transferee) as required by this clause (a) and (ii) deliver such securities
law opinion(s) of counsel, certifications and/or indemnification agreement(s) (to the extent the cost thereof is paid by the Mortgage
Loan Seller) with respect to such information that are substantially similar to those delivered with respect to the offering material
for this securitization by the Master Servicer, the Special Servicers, Trustee or Certificate Administrator, as the case may be,
or their respective counsel, in connection with the information concerning such party in the offering material related to a Regulation
AB Companion Loan Securitization.

 

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Notwithstanding the foregoing, to the extent that the information provided by the Trustee, the
Certificate Administrator the Master Servicer or the applicable Special Servicer, as applicable, for inclusion in the offering
materials related to such Regulation AB Companion Loan Securitization is substantially and materially similar to the information
provided by such party with respect to the offering materials related to this transaction, subject to any required changes due
to any amendments to Regulation AB or any changes in the interpretation of Regulation AB, such party shall be deemed to be in
compliance with this Section 11.15(a). Any indemnification agreement executed by the Trustee, the Certificate Administrator
the Master Servicer or the applicable Special Servicer in connection with the Regulation AB Companion Loan Securitization shall
be substantially similar to the related indemnification agreement executed in connection with this Agreement. It shall be a condition
precedent to any party’s obligations otherwise set forth above and/or elsewhere in Article XI that the Mortgage Loan
Seller (or permitted transferee or other party designated by the Mortgage Loan Seller, including the Other Depositor) shall have
(a) provided reasonable advance notice (and, in any event, not less than 10 Business Days) of the exercise of its rights hereunder
and (b) paid, or entered into reasonable agreement to cause to be paid, the reasonable out-of-pocket expenses (including reasonable
fees and expenses of counsel) incurred by such party in reviewing and/or causing the delivery of any disclosure, opinion of counsel
or indemnification agreement.

 

(b)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicers shall, and the Master Servicer and
the applicable Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed
with respect to a Serviced Securitized Companion Loan to, upon request or notice from such parties (which request or notice may
be given once at the closing of such Regulation AB Companion Loan Securitization instead of each time a filing is required), cooperate
with the depositor, trustee, certificate administrator, master servicer or special servicer for any Regulation AB Companion Loan
Securitization in preparing each Form ABS-15G, Form 8-K, Form 10-D and Form 10-K required to be filed by such Regulation AB Companion
Loan Securitization (until January 30 of the first year in which the trustee or other applicable party for such Regulation AB Companion
Loan Securitization files a Form 15 Suspension Notification with respect to the related trust) and shall provide to such depositor,
trustee, certificate administrator or master servicer within the time period set forth in the Other Pooling and Servicing Agreement
(so long as such time period is no earlier than the time periods set forth herein) for such Regulation AB Companion Loan Securitization
such information relating to a Serviced Securitized Companion Loan as may be reasonably necessary for the depositor, trustee, certificate
administrator and master servicer of the Regulation AB Companion Loan Securitization to comply with the reporting requirements
of Regulation AB, the Securities Act and the Exchange Act; provided, however, that any parties to any Regulation
AB Companion Loan Securitization shall consult with the Trustee, the Certificate Administrator, the Master Servicer and the applicable
Special Servicer (and Master Servicer shall consult with any sub-servicer appointed with respect to the related Serviced Whole
Loan), and the Trustee, the Certificate Administrator, such Master Servicer and the applicable Special Servicer shall cooperate
with such parties in respect of establishing the time periods for preparation of the Form 10-D reports in the documentation for
such Regulation AB Companion Loan Securitization. Notwithstanding the foregoing, to the extent the Trustee, the Certificate Administrator,
the Master Servicer or the applicable Special Servicer, as the case may be, complies in all material respects with the timing,
reporting and attestation requirements imposed on such party in Article XI of this Agreement (other than this

 

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Section
11.15) with respect to the comparable timing, reporting and attestation requirements contemplated in this Section 11.15(b)
with respect to such Regulation AB Companion Loan Securitization, such party shall be deemed to be in compliance with the provisions
of this Section 11.15(b).

 

(c)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicers shall, and the Master Servicer
and the applicable Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant
appointed with respect to a Serviced Securitized Companion Loan to, upon request or notice from such trustee or certificate
administrator (which request or notice may be given once at the closing of such Regulation AB Companion Loan Securitization
instead of each time a filing is required), provide the trustee or certificate administrator, as applicable, under a
Regulation AB Companion Loan Securitization (until January 30 of the first year in which the trustee or certificate
administrator, as applicable, for such Regulation AB Companion Loan Securitization files a Form 15 Suspension Notification
with respect to the related trust) information with respect to any event that is required to be disclosed under Form 8-K with
respect to a Serviced Securitized Companion Loan within two Business Days after the occurrence of such event of which it has
knowledge. Notwithstanding the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer or
any Special Servicer, as the case may be, complies in all material respects with the timing, reporting and attestation
requirements imposed on such party in Article XI of this Agreement (other than this Section 11.15) with respect to the
comparable timing, reporting and attestation requirements contemplated in this Section 11.15(c) with respect to such
Regulation AB Companion Loan Securitization, such party shall be deemed to be in compliance with the provisions of this Section
11.15(c).

 

(d)          On
or before March 1st of each year commencing in March 2017, during which a Regulation AB Companion Loan Securitization is required
to file an annual report on Form 10-K (and not in respect of any year in which Regulation AB Companion Loan Securitization is not
required to file an annual report on Form 10-K because a Form 15 Suspension Notification with respect to the related trust was
filed), each of the Trustee, the Master Servicer and the Special Servicers shall, and the Master Servicer and the applicable Special
Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant appointed with respect to a Serviced
Securitized Companion Loan to, upon request or notice from such trustee or certificate administrator (which request or notice may
be given once at the closing of such Regulation AB Companion Loan Securitization instead of each time a filing is required), provide,
with respect to itself, to the trustee or certificate administrator, as applicable, under such Regulation AB Companion Loan Securitization,
to the extent required pursuant to Item 1122 of Regulation AB, (i) a report on an assessment of compliance with the servicing criteria
to the extent required pursuant to Item 1122(a) of Regulation AB, (ii) a registered accounting firm’s attestation report
on such Person’s assessment of compliance with the applicable servicing criteria to the extent required pursuant to Item
1122(b) of Regulation AB and (iii) such other information as may be required pursuant to Item 1122(c) of Regulation AB. Notwithstanding
the foregoing, to the extent the Master Servicer or the applicable Special Servicer, as the case may be, complies in all material
respects with the timing, reporting and attestation requirements imposed on such party in Article XI of this Agreement (other
than this Section 11.15) with respect to the comparable timing, reporting and attestation requirements contemplated in this
Section 11.15(d) with respect to such Regulation AB Companion Loan

 

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Securitization, such party shall be deemed to be in compliance
with the provisions of this Section 11.15(d).

 

(e)          On
or before March 1st of each year commencing in March 2017, during which a Regulation AB Companion Loan Securitization is required
to file an annual report on Form 10-K (and not in respect of any year in which Regulation AB Companion Loan Securitization is not
required to file an annual report on Form 10-K because a Form 15 Suspension Notification with respect to the related trust was
filed), each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicers shall, and the Master
Servicer and the applicable Special Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant
appointed with respect to a Serviced Securitized Companion Loan to, to the extent required pursuant to Item 1123 of Regulation
AB, deliver, with respect to itself, to the trustee or certificate administrator under the such Regulation AB Companion Loan Securitization,
upon request or notice from such trustee (which request or notice may be given once at the closing of such Regulation AB Companion
Loan Securitization instead of each time a filing is required), under such Regulation AB Companion Loan Securitization a servicer
compliance statement signed by an authorized officer of such Person that satisfies the requirements of Item 1123 of Regulation
AB. Notwithstanding the foregoing, to the extent the Trustee, the Certificate Administrator, the Master Servicer or the applicable
Special Servicer, as the case may be, complies in all material respects with the timing, reporting and attestation requirements
imposed on such party in Article XI of this Agreement (other than this Section 11.15) with respect to the comparable
timing, reporting and attestation requirements contemplated in this Section 11.15(e) with respect to such Regulation AB
Companion Loan Securitization, such party shall be deemed to be in compliance with the provisions of this Section 11.15(e).

 

(f)          Each
of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicers shall use commercially reasonable
efforts to cause a Servicing Function Participant to agree (severally but not jointly) to indemnify (such indemnity limited to
each such parties respective failure described below) and hold the Mortgage Loan Seller (or permitted transferee), depositor, sponsor(s),
trustee, certificate administrator or master servicer under a Regulation AB Companion Loan Securitization harmless for any costs,
liabilities, fees and expenses incurred by the Mortgage Loan Seller, depositor, sponsor(s), trustee, certificate administrator
or master servicer as a result of any failure by the Servicing Function Participant to comply with the reporting requirements to
the extent applicable set forth under Sections 11.15(b), (c), (d) or (e) above.

 

Any Sub-Servicing Agreement
related to a Serviced Securitized Companion Loan shall contain a provision requiring the related Sub-Servicer to provide to the
Master Servicer or the applicable Special Servicer, as the case may be, information, reports, statements and certificates with
respect to itself and such Serviced Securitized Companion Loan comparable to any information, reports, statements or certificates
required to be provided by the Master Servicer or the applicable Special Servicer pursuant to this Section 11.15, even if
such Sub-Servicer is not otherwise required to provide such information, reports or certificates to any Person in order to comply
with Regulation AB. Such information, reports or certificates shall be provided to the Master Servicer or the applicable Special
Servicer, as applicable, no later than two Business Days prior to the date on which the Master Servicer or the applicable Special

 

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Servicer, as applicable, is required to deliver its comparable information, reports, statements or certificates pursuant to this
Section 11.15.

 

(g)          With
respect to any Mortgaged Property that secures a Serviced Pari Passu Companion Loan that the applicable Other Depositor has notified
the Master Servicer in writing is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (together
with notification of the Relevant Distribution Date) with respect to an Other Securitization that includes such Serviced Companion
Loan, to the extent that the Master Servicer is in receipt of the updated financial statements of such “significant obligor”
for any calendar quarter (other than the fourth calendar quarter of any calendar year) from the Mortgagor, beginning with the first
calendar quarter following receipt of such notice from the Other Depositor, or the updated financial statements of such “significant
obligor” for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable,
the Master Servicer shall deliver to the Other Depositor, on or prior to the day that occurs two (2) Business Days prior to the
related Significant Obligor NOI Quarterly Filing Deadline or seven (7) Business Days prior to the related Significant Obligor NOI
Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to
the related Significant Obligor NOI Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the related Significant
Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the “significant obligor”, together
with the net operating income of such “significant obligor” for the applicable period as calculated by the Master Servicer
in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business
Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than seventeen (17) Business Days prior to the
related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the “significant obligor”,
together with the net operating income of such “significant obligor” for the applicable period as reported by the related
Mortgagor in such financial statements.

 

If the Master Servicer
does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the
case may be, of such “significant obligor” within ten (10) Business Days after the date such financial information
is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Other Depositor with
respect to such Other Securitization that includes the related Companion Loan (and shall cause each applicable Sub-Servicing Agreement
to require any related Sub-Servicer to notify such Other Depositor) that it has not received such financial information. The Master
Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations
of such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the related Mortgagor under the
related Mortgage Loan documents.

 

The Master Servicer shall
(and shall cause any related Sub-Servicing Agreement entered into after receipt of written notice from the Other Depositor that
such Serviced Pari Passu Companion Loan is a significant obligor to require the related Sub-Servicer to) retain written evidence
of each instance in which it (or a Sub-Servicer) attempts to contact the related Mortgagor related to any such “significant
obligor” (identified to it as such by the Other Depositor in accordance with the second preceding paragraph) to obtain the
required financial information and is unsuccessful and, within five (5) Business Days prior to the date in which a

 

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Form 10-D or
Form 10-K, as applicable, is required to be filed by the Other Securitization, shall forward an Officer’s Certificate evidencing
its attempts to obtain this information to the certificate administrator and Other Depositor related to such Other Securitization.
This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified
in the related Other Pooling and Servicing Agreement.

 

Section 11.16 Certain
Matters Regarding Significant Obligors. For the avoidance of doubt, there is no “significant obligor” (within the
meaning of Item 1101(k) of Regulation AB) as of the Closing Date (“Significant Obligor”) related to the Trust.

 

Notwithstanding anything
contained in this Section 11.16, in the event that the Certificate Administrator files a Form 15 Suspension Notification
pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the
Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16.

 

Section 11.17 Impact
of Cure Period.  For the avoidance of doubt, neither the Master Servicer nor the Special Servicers shall be subject to a Servicer
Termination Event pursuant to clause (iii) of the definition thereof, nor shall any such party be deemed to not be in compliance
under this Agreement, during any grace period provided for in such clause (iii); provided, that if any such party fails
to comply with the requirements of this Article XI by the expiration of any applicable grace period such failure shall
constitute a Servicer Termination Event with respect to such party.

 

Article
XII

the asset representations reviewer

 

Section 12.01 Asset
Review.

 

(a)          On
or prior to each Distribution Date, based on the CREFC® Delinquent Mortgage Loan Status Report and/or the CREFC®
Loan Periodic Update File delivered by the Master Servicer for such Distribution Date, the Certificate Administrator shall determine
if an Asset Review Trigger has occurred. If an Asset Review Trigger is determined to have occurred, the Certificate Administrator
shall promptly provide notice to all Certificateholders, the Controlling Class Representative and each other party to this Agreement.
Any notice required to be delivered to the Certificateholders pursuant to this Article XII shall be delivered by the Certificate
Administrator by posting such notice on the Certificate Administrator’s Website, by mailing such notice to the Certificateholders’
addresses appearing in the Certificate Register in the case of Definitive Certificates and by delivering such notice via the Depository
in the case of Book-Entry Certificates. The Certificate Administrator shall include in the Form 10-D relating to the reporting
period in which the Asset Review Trigger occurred the following statement describing the events that caused the Asset Review Trigger
to occur: “As of the [Date of Distribution], the following mortgage loans identified below are 60 or more days delinquent
and an Asset Review Trigger as defined in the Pooling and Servicing Agreement has occurred”. On each Distribution Date occurring
after providing such notice to Certificateholders, the Certificate Administrator, based on information provided to it by the Master
Servicer, shall determine

 

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whether (1) any additional Mortgage Loan has become a Delinquent Mortgage Loan, (2) any Mortgage Loan
has ceased to be a Delinquent Mortgage Loan and (3) whether an Asset Review Trigger has ceased to exist, and, if there is an occurrence
of any of the events or circumstances identified in clauses (1), (2) and/or (3), deliver written notice of
such information (which may be via email) substantially in the form attached hereto as Exhibit SS within two (2) Business
Days of such determination to the Master Servicer, the Special Servicers, the Operating Advisor and the Asset Representations Reviewer.

 

If Certificateholders
evidencing not less than 5.0% of the Pooled Voting Rights of the Certificates deliver to the Certificate Administrator, within
ninety (90) days after the filing of the Form 10-D reporting the occurrence of an Asset Review Trigger, a written direction requesting
a vote to commence an Asset Review (such written direction, the “Asset Review Vote Election”), then upon receipt
of the Asset Review Vote Election, the Certificate Administrator shall promptly provide written notice thereof to the Asset Representations
Reviewer and all Certificateholders and conduct a solicitation of votes by Certificateholders in accordance with Section 5.10
to authorize an Asset Review. Upon the affirmative vote to authorize an Asset Review of Holders of Certificates evidencing at least
a majority of the votes casts but in any event at least a majority of an Asset Review Quorum within 150 days of receipt of the
Asset Review Vote Election (an “Affirmative Asset Review Vote”), the Certificate Administrator shall promptly
provide written notice thereof to all parties to this Agreement, the Underwriters, the Mortgage Loan Seller, the Controlling Class
Representative and the Certificateholders (the “Asset Review Notice”). Upon receipt of an Asset Review Notice,
the Asset Representations Reviewer shall request access to the Secure Data Room by providing the Certificate Administrator with
a certification substantially in the form attached hereto as Exhibit RR (which shall be sent via email to trustadministrationgroup@wellsfargo.com
or submitted electronically via the Certificate Administrator’s Website). Upon receipt of such certification, the Certificate
Administrator shall promptly (and in any case, within two (2) Business Days after such receipt) grant the Asset Representations
Reviewer access to the Secure Data Room. In the event an Affirmative Asset Review Vote has not occurred within such 150-day period
following the receipt of the Asset Review Vote Election, no Certificateholder may request a vote or cast a vote for an Asset Review
and the Asset Representations Reviewer will not be required to review any Delinquent Mortgage Loan unless and until (A) an additional
Mortgage Loan has become a Delinquent Mortgage Loan after the expiration of such 150-day period, (B) an Asset Review Trigger has
occurred as a result or an Asset Review Trigger is otherwise in effect, (C) the Certificate Administrator has timely received an
Asset Review Vote Election after the occurrence of the events described in clauses (A) and (B) in this sentence and (D) an Affirmative
Asset Review Vote has occurred within 150 days after the Asset Review Vote Election described in clause (C) in this sentence. After
the occurrence of any Asset Review Vote Election or an Affirmative Asset Review Vote, no Certificateholder may make any additional
Asset Review Vote Election except as described in the immediately preceding sentence. Any reasonable out-of-pocket expenses incurred
by the Certificate Administrator in connection with administering such vote will be paid as an expense of the Trust from the Collection
Account. The Certificate Administrator shall be entitled to administer any vote in connection with the foregoing through an agent.

 

(b)          (i)
Upon receipt of an Asset Review Notice, the Custodian (with respect to the following clauses (1) - (5) for Non-Specially
Serviced Mortgage Loans), the Master

 

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Servicer (with respect to the following clause (6) for Non-Specially Serviced Mortgage
Loans and the applicable Special Servicer (with respect to Specially Serviced Mortgage Loans), in each case to the extent in such
party’s possession, shall promptly, but in no event later than ten (10) Business Days (except with respect to the following
clause (6)) after receipt of such notice from the Certificate Administrator, provide, or make available, the following materials
for each Delinquent Mortgage Loan (in electronic format) to the Asset Representations Reviewer (collectively, with the Diligence
Files, any notice of a breach of a representation or warranty relating to any Delinquent Mortgage Loan received by the Asset Representations
Reviewer from any other party to this Agreement, a copy of the Prospectus, a copy of the Mortgage Loan Purchase Agreement and a
copy of this Agreement, the “Review Materials”):

 

(1)          a
copy of an assignment of the Mortgage in favor of the Trustee, with evidence of recording thereon, for each Delinquent Mortgage
Loan that is subject to an Asset Review;

 

(2)          a
copy of an assignment of any related assignment of leases (if such item is a document separate from the Mortgage) in favor of the
Trustee, with evidence of recording thereon, related to each Delinquent Mortgage Loan that is subject to an Asset Review;

 

(3)          
a copy of the assignment of all unrecorded documents relating to each Delinquent Mortgage Loan that is subject to an Asset Review,
if not already covered pursuant to items (1) or (2) above;

 

(4)          a
copy of all filed copies (bearing evidence of filing) or evidence of filing of any UCC Financing Statements related to each Delinquent
Mortgage Loan that is subject to an Asset Review;

 

(5)          a
copy of an assignment in favor of the Trustee of any financing statement executed and filed in the relevant jurisdiction related
to each Delinquent Mortgage Loan that is subject to an Asset Review; and

 

(6)          any
other related documents that were entered into or delivered in connection with the origination of such Mortgage Loan that are necessary
in connection with the Asset Representations Reviewer’s completion of any Asset Review and that are that are reasonably requested
by the Asset Representations Reviewer in the time frame and as otherwise described below.

 

(ii)          In
addition, in the event that, as part of an Asset Review of any Delinquent Mortgage Loan, the Asset Representations Reviewer determines
that the Review Materials provided to it with respect to such Delinquent Mortgage Loan are missing any documents that are required
to be part of the Review Materials for such Mortgage Loan or which were entered into or delivered in connection with the origination
of such Mortgage Loan that, in either case, are necessary in connection with its completion of any such Asset Review, the Asset
Representations Reviewer shall promptly, but in no event later than ten (10) Business Days after receipt of the Review Materials,
notify the Master Servicer (with respect to Non-Specially Serviced Mortgage Loans) or the applicable

 

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Special Servicer (with respect
to Specially Serviced Mortgage Loans), as applicable, of such missing documents, and the Master Servicer or the applicable Special
Servicer shall promptly, but in no event later than ten (10) Business Days after receipt of such notification from the Asset Representations
Reviewer, deliver to the Asset Representations Reviewer such missing documents to the extent they are in its possession; provided
that any such notification and/or request shall be in writing, specifically identifying the documents being requested and sent
to the notice address for the related party set forth in Section 13.05 of this Agreement. In the event any missing documents
are not provided by the Master Servicer or the applicable Special Servicer, as applicable, within such 10-Business Day period,
the Asset Representations Reviewer shall request such documents from the Mortgage Loan Seller; provided that the Mortgage Loan
Seller shall be required under the Mortgage Loan Purchase Agreement to, deliver such additional documents only to the extent such
documents are in the possession of the Mortgage Loan Seller.

 

With respect
to any Delinquent Loan that is a Non-Serviced Mortgage Loan, to the extent any documents required by the Asset Representations
Reviewer to complete a Test are missing or have not been received from the related Mortgage Loan Seller, the Asset Representations
Reviewer shall request such document(s) from the related Non-Serviced Master Servicer (if such Non-Serviced Mortgage Loan is being
serviced by a Non-Serviced Master Servicer) or the related Non-Serviced Special Servicer (if such Non-Serviced Mortgage Loan is
being serviced by a Non-Serviced Special Servicer).

 

(iii)         The
Asset Representations Reviewer may, but is under no obligation to, consider and rely upon information furnished to it by a Person
that is not a party to this Agreement or the Mortgage Loan Seller, and shall do so only if such information can be independently
verified (without unreasonable effort or expense to the Asset Representations Reviewer) and is determined by the Asset Representations
Reviewer in its good faith and sole discretion to be relevant to the Asset Review (any such information, “Unsolicited
Information”) conducted pursuant to this Section 12.01 hereof.

 

(iv)    
    Upon receipt by the Asset Representations Reviewer of the Asset Review Notice and access to the
Diligence Files posted to the Secure Data Room with respect to a Delinquent Mortgage Loan, the Asset Representations
Reviewer, as an independent contractor, shall commence a review of the compliance of each Delinquent Mortgage Loan with the
representations and warranties related to that Delinquent Mortgage Loan (such review, the “Asset Review”).
The Asset Representations Reviewer shall perform an Asset Review with respect to each representation and warranty made by the
Mortgage Loan Seller with respect to such Delinquent Mortgage Loan in accordance with the Asset Review Standard and the
procedures set forth on Exhibit QQ (each such procedure, a “Test”); provided, however, the
Asset Representations Reviewer may, but is under no obligation to, modify any Test and/or associated Review Materials
described in Exhibit QQ if, and only to the extent, the Asset Representations Reviewer determines pursuant to the
Asset Review Standard that it is necessary to modify such Test and/or such associated Review Materials in order to
facilitate its Asset Review in accordance with the Asset Review Standard. Once an Asset Review of a Mortgage Loan is
completed, no further Asset Review shall be required in respect of, or performed on, such Mortgage Loan

 

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notwithstanding that
such Mortgage Loan may continue to be a Delinquent Loan or again become a Delinquent Loan at a time when a new Asset Review
Trigger occurs and a new Affirmative Asset Review Vote is obtained subsequent to the occurrence of such new Asset Review
Trigger.

 

(v)          The
Asset Representations Reviewer shall not be required to review any information other than (x) the Review Materials or (y) if applicable,
Unsolicited Information.

 

(vi)         The
Asset Representations Reviewer may, absent manifest error and subject to the Asset Review Standard, (i) assume, without independent
investigation or verification, that the Review Materials are accurate and complete in all material respects and (ii) conclusively
rely on such Review Materials.

 

(vii)          In
the event that the Asset Representations Reviewer determines that the Review Materials are insufficient to complete a Test and
such missing documentation is not delivered to the Asset Representations Reviewer by the Mortgage Loan Seller, the Master Servicer
(with respect to Non-Specially Serviced Mortgage Loans) or the applicable Special Servicer (with respect to Specially Serviced
Mortgage Loans) to the extent in the Master Servicer’s or the applicable Special Servicer’s possession within 10 Business
Days upon request described above, the Asset Representations Reviewer shall list such missing documents in a preliminary report
setting forth the preliminary results of the application of the Tests and the reasons why such missing documents are necessary
to complete a Test and (if the Asset Representations Reviewer has so concluded) that the absence of such documents shall be deemed
to be a failure of such Test (“Preliminary Asset Review Report”). The Asset Representations Reviewer shall provide
such Preliminary Asset Review Report to the Master Servicer or the applicable Special Servicer, as applicable, and the Mortgage
Loan Seller no later than 60 days after the date on which access to the Diligence Files in the Secure Data Room is made available
to the Asset Representations Reviewer by the Certificate Administrator. The applicable Special Servicer, if applicable, may review
such Preliminary Asset Review Report and determine whether any information contained in such Preliminary Asset Review Report shall
be labeled as “Privileged Information” and thus be excluded from the Asset Review Report and Asset Review Report Summary.
If the Preliminary Asset Review Report indicates that any of the representations and warranties fails or is deemed to fail any
Test, the Mortgage Loan Seller shall have ninety (90) days from receipt of the Preliminary Asset Review Report (the “Cure/Contest
Period”) to remedy or otherwise refute the failure. Any information and documents provided or explanations given to support
the Mortgage Loan Seller’s claim that the representation and warranty has not failed a Test or that any missing documents
in the Review Materials are not required to complete a Test shall be promptly delivered by the Mortgage Loan Seller to the Asset
Representations Reviewer. For the avoidance of doubt, the Asset Representations Reviewer will not be required to prepare a Preliminary
Asset Review Report in the event the Asset Representations Reviewer determines that there is no Test failure with respect to the
related Delinquent Mortgage Loan.

 

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(viii)       The
Asset Representations Reviewer shall, within the later of (x) sixty (60) days after the date on which access to the Diligence Files
posted to the Secure Data Room is provided to the Asset Representations Reviewer by the Certificate Administrator or (y) (ten (10)
days after the expiration of the Cure/Contest Period, complete an Asset Review with respect to each Delinquent Mortgage Loan and
deliver (i) a report setting forth the Asset Representations Reviewer’s findings and conclusions as to whether or not it
has determined there is any evidence of a failure of any Test based on the Asset Review and a statement that the Asset Representations
Reviewer’s findings and conclusions set forth in such report were not influenced by any third party (an “Asset Review
Report”) to each party to this agreement and the Mortgage Loan Seller and (ii) a summary of the Asset Representations
Reviewer’s conclusions included in such Asset Review Report (an “Asset Review Report Summary”) to the
Trustee and the Certificate Administrator. The period of time by which the Asset Review Report must be completed and delivered
may be extended by up to an additional thirty (30) days, upon written notice to the parties to this Agreement and the Mortgage
Loan Seller, if the Asset Representations Reviewer determines pursuant to the Asset Review Standard that such additional time is
required due to the characteristics of the Delinquent Mortgage Loan and/or the Mortgaged Property or Mortgaged Properties. In no
event may the Asset Representations Reviewer determine whether any Test failure constitutes a Material Defect, or whether the Trust
should enforce any rights it may have against the Mortgage Loan Seller, which, in each case, shall be a responsibility of the Enforcing
Servicer, pursuant to Section 2.03 of this Agreement.

 

(ix)          In
addition, in the event that the Asset Representations Reviewer does not receive any documentation that it requested from the Master
Servicer, the applicable Special Servicer or the Mortgage Loan Seller in sufficient time to allow the Asset Representations Reviewer
to complete its Asset Review and deliver an Asset Review Report, the Asset Representations Reviewer shall prepare the Asset Review
Report solely based on the documentation received by the Asset Representations Reviewer with respect to the related Delinquent
Mortgage Loan, and the Asset Representations Reviewer shall have no responsibility to independently obtain any such documentation
from any party to this Agreement.

 

(x)          Within
forty-five (45) days after receipt of an Asset Review Report with respect to any Mortgage Loan, the Master Servicer (with respect
to Non-Specially Serviced Mortgage Loans) or the applicable Special Servicer (with respect to Specially Serviced Mortgage Loans)
shall determine whether at that time, based on the Servicing Standard, there exists a Material Defect with respect to such Mortgage
Loan. If the Master Servicer or the applicable Special Servicer determines that a Material Defect exists, the Master Servicer or
the applicable Special Servicer, as applicable, shall enforce the obligations of the Mortgage Loan Seller with respect to such
Material Defect in accordance with Section 2.03.

 

(xi)         For
the avoidance of doubt, the Asset Representations Reviewer shall not perform an Asset Review with respect to any Trust Subordinate
Companion Loan at any time.

 

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(c)          The
Asset Representations Reviewer shall keep any information appropriately labeled as “Privileged Information” confidential
and shall not disclose such Privileged Information to any Person (including Certificateholders), other than (1) to the extent expressly
required by this Agreement in an Asset Review Report or otherwise, to the other parties to this Agreement with a notice indicating
that such information is Privileged Information or (2) pursuant to a Privileged Information Exception. Each party to this Agreement
that receives Privileged Information from the Asset Representations Reviewer with a notice stating that such information is Privileged
Information shall not disclose such Privileged Information to any Person without the prior written consent of the applicable Special
Servicer other than pursuant to a Privileged Information Exception. The Asset Representations Reviewer shall keep all documents
received by the Asset Representations Reviewer in connection with an Asset Review that are provided by the Mortgage Loan Seller,
the Master Servicer and the Special Servicers confidential and shall not disclose such documents except (i) for purposes of complying
with its duties and obligations under this Agreement, (ii) if such documents become generally available and known to the public
other than as a result of a disclosure directly or indirectly by the Asset Representations Reviewer, (iii) if it is reasonable
and necessary for the Asset Representations Reviewer to disclose such documents or information in working with legal counsel, auditors,
taxing authorities or other governmental agencies, (iv) if such documents or information was already known to the Asset Representations
Reviewer and not otherwise subject to a confidentiality obligation and/or (v) if the Asset Representations Reviewer is required
by law, rule, regulation, order, judgment or decree to disclose such document.

 

(d)          The
Asset Representations Reviewer may delegate its duties to agents or subcontractors so long as the related agreements or arrangements
with such agents or subcontractors are consistent with the provisions of this Section 12.01; provided that no agent
or subcontractor may (1) be affiliated with the Mortgage Loan Seller, the Master Servicer, any Special Servicer, the Depositor,
the Certificate Administrator, the Trustee, the Controlling Class Representative or any of their respective Affiliates or (ii)
have been paid any fees, compensation or other remuneration by an Underwriter, the Master Servicer, a Special Servicer, the Depositor,
the Certificate Administrator, the Trustee, the Controlling Class Representative or any of their respective Affiliates in connection
with due diligence or other services with respect to any Mortgage Loan prior to the Closing Date. Notwithstanding the foregoing
sentence, the Asset Representations Reviewer shall remain obligated and primarily liable for any Asset Review required hereunder
in accordance with the provisions of this Agreement without diminution of such obligation or liability or related obligation or
liability by virtue of such delegation or arrangements or by virtue of indemnification from any Person acting as its agents or
subcontractor to the same extent and under the same terms and conditions as if the Asset Representations Reviewer alone were performing
its obligations under this Agreement. The Asset Representations Reviewer shall be entitled to enter into an agreement with any
agent or subcontractor providing for indemnification of the Asset Representations Reviewer by such agent or subcontractor, and
nothing contained in this Agreement shall be deemed to limit or modify such indemnification.

 

(e)          The
Asset Representations Reviewer may assign its rights and obligations under this Agreement in connection with the sale or transfer
of all or substantially all of its asset representations reviewer portfolio, provided that: (i) the purchaser or transferee accepting
such assignment and delegation (A) is an Eligible Asset Representations Reviewer, organized and

 

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doing business under the laws of
the United States of America, any state of the United States of America or the District of Columbia, authorized under such laws
to perform the duties of the asset representations reviewer resulting from a merger, consolidation or succession that is permitted
under this Agreement, (B) executes and delivers to the Trustee and the Certificate Administrator an agreement that contains an
assumption by such person of the due and punctual performance and observance of each covenant and condition to be performed or
observed by the Asset Representations Reviewer under this Agreement from and after the date of such agreement and (C) is not be
a prohibited party under this Agreement; (ii) the Asset Representations Reviewer will not be released from its obligations under
this Agreement that arose prior to the effective date of such assignment and delegation; (iii) the rate at which each of the Asset
Representations Reviewer Fee and the Asset Representations Reviewer Asset Review Fee (or any component thereof) is calculated may
not exceed the rate then in effect and (iv) the resigning Asset Representations Reviewer will be required to be responsible for
the reasonable costs and expenses of each other party hereto and the Rating Agencies in connection with such transfer. Upon acceptance
of such assignment and delegation, the purchaser or transferee will be required to provide notice to each party to this Agreement
and then will be the successor Asset Representations Reviewer hereunder.

 

(f)          If
any Serviced Companion Loan becomes the subject of a review of representations and warranties “asset review” (as such
term or an analogous term is defined in the related Other Pooling and Servicing Agreement) conducted by an “asset representations
reviewer” (within the meaning of Item 1101(m) of Regulation AB, and such party, the “Other Asset Representations
Reviewer”) pursuant to each Other Pooling and Servicing Agreement, the Master Servicer, the applicable Special Servicer,
the Trustee and the Custodian shall reasonably cooperate with each Other Asset Representations Reviewer in connection with such
asset review by providing such Other Asset Representations Reviewer with any documents reasonably requested by the related Other
Asset Representations Reviewer, but only to the extent such documents are in the possession of the Master Servicer, the applicable
Special Servicer, the Trustee or the Custodian, as the case may be.

 

Section 12.02 Payment
of Asset Representations Reviewer Fees and Expenses; Limitation of Liability.

 

(a)          As
compensation for the performance of its routine duties, the Asset Representations Reviewer shall be paid a fee (the “Asset
Representations Reviewer Fee”), payable monthly from amounts received in respect of the Mortgage Loans and shall be equal
to the product of a rate equal to 0.00049% per annum (the “Asset Representations Reviewer Fee Rate”)
and the Stated Principal Balance of the Mortgage Loans and any REO Loans (including any Non-Serviced Mortgage Loan, but not any
Companion Loan and shall be calculated in the same manner as interest is calculated on such Mortgage Loans.

 

(b)          In
connection with each Asset Review with respect to a Delinquent Mortgage Loan (in such case, a “Subject
Loan”) and within 60 days of receipt by the Mortgage Loan Seller of a written request from the Asset
Representations Reviewer, the Asset Representations Reviewer shall be paid a fee equal to the sum of (i) $15,000 multiplied
by the number of Subject Loans, plus (ii) $1,500 per Mortgaged Property relating to the Subject Loans in excess of one
Mortgaged Property per Subject Loan, plus (iii) $2,000 per Mortgaged Property

 

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relating to a Subject Loan subject to a ground
lease, plus (iv) $1,000 per Mortgaged Property relating to a Subject Loan subject to a franchise agreement, hotel management
agreement or hotel license agreement, subject, in the case of each of clauses (i) through (iv), to adjustments on the basis
of the year-end “Consumer Price Index for All Urban Consumers” as published by the U.S. Department of Labor, or
other similar index if the Consumer Price Index for All Urban Consumers is no longer calculated for the year of the Closing
Date and for the year of the occurrence of the Asset Review (the “Asset Representations Reviewer Asset Review
Fee”), which shall cover recurring and otherwise reasonably anticipated expenses of the Asset Representations
Reviewer. The Asset Representations Reviewer Asset Review Fee with respect to each Delinquent Mortgage Loan shall be paid by
the Mortgage Loan Seller; provided, however, that if the Mortgage Loan Seller is insolvent, such fee shall
become an expense of the Trust following delivery by the Asset Representations Reviewer of evidence reasonably satisfactory
to the Master Servicer or the applicable Special Servicer, as applicable, of such insolvency; provided, further,
that notwithstanding any payment of such fee by the Trust to the Asset Representations Reviewer, such fee shall remain an
obligation of the Mortgage Loan Seller and the Master Servicer or the applicable Special Servicer as applicable, shall be
required to pursue remedies against the Mortgage Loan Seller in accordance with the Servicing Standard in order to seek
recovery of such amounts from the Mortgage Loan Seller or its insolvency estate.

 

(c)          Notwithstanding
the foregoing, the Asset Representations Reviewer Asset Review Fee with respect to a Delinquent Mortgage Loan shall be included
in the Purchase Price for any Mortgage Loan that was the subject of a completed Asset Review that is repurchased by a Mortgage
Loan Seller to the extent such fee was not already paid by the Mortgage Loan Seller, and such portion of the Purchase Price received
shall be used to reimburse the Trust for such fees paid to the Asset Representations Reviewer pursuant to Section 12.02(b).

 

(d)          The
Asset Representations Reviewer shall be liable in accordance herewith only to the extent of the obligations specifically imposed
by this Agreement.

 

Section 12.03 Resignation
of the Asset Representations Reviewer.  The Asset Representations Reviewer may resign and be discharged from its obligations
hereunder by giving written notice thereof to the other parties to this Agreement and each Rating Agency. In addition, the Asset
Representations Reviewer shall at all times be an Eligible Asset Representations Reviewer, and shall resign if it fails to be
an Eligible Asset Representations Reviewer by giving written notice to the other parties to this Agreement. Upon such notice of
resignation, the Trustee shall promptly appoint a successor Asset Representations Reviewer that is an Eligible Asset Representations
Reviewer. If the Trustee is unable to find a successor Asset Representations Reviewer within 30 days of the termination of the
Asset Representations Reviewer, the Depositor shall be permitted to find a replacement. No resignation of the Asset Representations
Reviewer will be effective until a successor Asset Representations Reviewer that is an Eligible Asset Representations Reviewer
has been appointed and accepted the appointment. If no successor Asset Representations Reviewer shall have been so appointed and
have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Asset Representations Reviewer
may petition any court of competent jurisdiction for the appointment of a successor Asset Representations Reviewer that is an
Eligible Asset Representations Reviewer. The Asset Representations Reviewer will bear all costs and expenses

 

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of each other party hereto and each Rating Agency in connection with
its resignation and the transfer of its duties.

 

Section
12.04 Restrictions of the Asset Representations Reviewer. Neither the Asset Representations Reviewer nor any of its
Affiliates shall make any investment in any Class of Certificates; provided, however, that such prohibition
shall not apply to (i) riskless principal transactions effected by a broker dealer Affiliate of the Asset Representations
Reviewer or (ii) investments by an Affiliate of the Asset Representations Reviewer if the Asset Representations Reviewer and
such Affiliate maintain policies and procedures that (A) segregate personnel involved in the activities of the Asset
Representations Reviewer under this Agreement from personnel involved in such Affiliate’s investment activities and (B)
prevent such Affiliate and its personnel from gaining access to information regarding the Trust and the Asset Representations
Reviewer and its personnel from gaining access to such Affiliate’s information regarding its investment activities.

 

Section 12.05 Termination
of the Asset Representations Reviewer.

 

(a)          An
“Asset Representations Reviewer Termination Event” means any one of the following events whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order,
rule or regulation of any administrative or governmental body:

 

(i)           any
failure by the Asset Representations Reviewer to observe or perform in any material respect any of its covenants or agreements
or the material breach of its representations or warranties under this Agreement, which failure shall continue unremedied for a
period of thirty (30) days after the date on which written notice of such failure, requiring the same to be remedied, shall have
been given to the Asset Representations Reviewer by the Trustee or to the Asset Representations Reviewer and the Trustee by the
Holders of Certificates having at least 25% of the Pooled Voting Rights;

 

(ii)          any
failure by the Asset Representations Reviewer to perform in accordance with the Asset Review Standard in any material respect,
which failure shall continue unremedied for a period of thirty (30) days after the date on which written notice of such failure,
requiring the same to be remedied, is given to the Asset Representations Reviewer by any party to this Agreement;

 

(iii)         any
failure by the Asset Representations Reviewer to be an Eligible Asset Representations Reviewer, which failure shall continue unremedied
for a period of thirty (30) days after the date on which written notice of such failure, requiring the same to be remedied, is
given to the Asset Representations Reviewer by any party to this Agreement;

 

(iv)         a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up
or liquidation of its affairs, shall

 

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have been entered against the Asset Representations Reviewer, and such decree or order shall
have remained in force undischarged or unstayed for a period of sixty (60) days;

 

(v)          the
Asset Representations Reviewer shall consent to the appointment of a conservator or receiver or liquidator or liquidation committee
in any insolvency, readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of
or relating to the Asset Representations Reviewer or of or relating to all or substantially all of its property; or

 

(vi)         the
Asset Representations Reviewer shall admit in writing its inability to pay its debts generally as they become due, file a petition
to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors,
or voluntarily suspend payment of its obligations.

 

Upon receipt by the Certificate
Administrator of written notice of the occurrence of any Asset Representations Reviewer Termination Event, the Certificate Administrator
shall promptly provide written notice to all Certificateholders in accordance with the notice distribution procedures described
in Section 12.01(a), unless the Certificate Administrator has received written notice that such Asset Representations Reviewer
Termination Event has been remedied. If an Asset Representations Reviewer Termination Event shall occur then, and in each and every
such case, so long as such Asset Representations Reviewer Termination Event shall not have been remedied, either the Trustee (i)
may or (ii) upon the written direction of Holders of Certificates evidencing not less than 25% of the Pooled Voting Rights (without
regard to the application of any Appraisal Reduction Amounts), the Trustee shall, terminate all of the rights and obligations of
the Asset Representations Reviewer under this Agreement, other than rights and obligations accrued prior to such termination (including
the right to receive all amounts accrued and owing to it under this Agreement) and other than indemnification rights (arising out
of events occurring prior to such termination), by notice in writing to the Asset Representations Reviewer. The Asset Representations
Reviewer is required to bear all reasonable costs and expenses of itself and of each other party to this Agreement in connection
with its termination due to an Asset Representations Reviewer Termination Event. Notwithstanding anything herein to the contrary,
the Depositor and the Mortgage Loan Seller shall have the right, but not the obligation, to notify the Certificate Administrator
and the Trustee of any Asset Representations Reviewer Termination Event of which it becomes aware.

 

(b)          Upon
(i) the written direction of Holders of Certificates evidencing not less than 25% of the Pooled Voting Rights (without regard to
the application of any Appraisal Reduction Amounts) requesting a vote to terminate and replace the Asset Representations Reviewer
with a proposed successor asset representations reviewer that is an Eligible Asset Representations Reviewer and (ii) payment by
such Holders to the Certificate Administrator of the reasonable fees and expenses to be incurred by the Certificate Administrator
in connection with administering such vote, the Certificate Administrator shall promptly provide written notice thereof to the
Asset Representations Reviewer by mailing such notice to the Asset Representations Reviewer and to all Certificateholders in accordance
with the notice distribution procedures described in Section 12.01(a). Upon the written direction of Holders of Certificates
evidencing more than 75% of a Pooled Certificateholder Quorum (without regard to the application of any Appraisal Reduction Amounts),
the Trustee shall terminate all of the rights

 

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and obligations of the Asset Representations Reviewer under this Agreement (other
than any rights or obligations that accrued prior to the date of such termination and other than indemnification rights arising
out of events occurring prior to such termination) by notice in writing to the Asset Representations Reviewer and appoint the proposed
successor. As between the Asset Representations Reviewer, on the one hand, and the Certificateholders, on the other, the Certificateholders
shall be entitled in their sole discretion to vote for the termination or not vote for the termination of the Asset Representations
Reviewer. In the event that holders of the certificates evidencing at least 75% of a Pooled Certificateholder Quorum (without regard
to the application of any Appraisal Reduction Amounts) elect to remove the Asset Representations Reviewer without cause and appoint
a successor, the successor asset representations reviewer will be responsible for all expenses necessary to effect the transfer
of responsibilities from its predecessor.

 

(c)          On
or after the receipt by the Asset Representations Reviewer of written notice of termination, subject to this Section 12.05,
all of its authority and power under this Agreement shall be terminated and, without limitation, the terminated Asset Representations
Reviewer shall execute any and all documents and other instruments, and do or accomplish all other acts or things reasonably necessary
or appropriate to effect the purposes of such notice of termination. As soon as practicable, but in no event later than thirty
(30) days after (1) the Asset Representations Reviewer resigns pursuant to Section 12.03 of this Agreement or (2) the Trustee
delivers such written notice of termination to the Asset Representations Reviewer, the Trustee shall appoint a successor asset
representations reviewer that is an Eligible Asset Representations Reviewer. The Trustee shall provide written notice of the appointment
of an Asset Representations Reviewer to the Master Servicer, the Special Servicers, the Operating Advisor, the Certificate Administrator,
the Controlling Class Representative, the Directing Holder and each Certificateholder within one Business Day of such appointment.

 

The Asset Representations
Reviewer shall at all times be an Eligible Asset Representations Reviewer and if the Asset Representations Reviewer ceases to be
an Eligible Asset Representations Reviewer, the Asset Representations Reviewer shall immediately resign under Section 12.03
of this Agreement and the Trustee shall appoint a successor asset representations reviewer subject to and in accordance with this
Section 12.05. Notwithstanding the foregoing, if the Trustee is unable to find a successor asset representations reviewer
within thirty (30) days of the termination of the Asset Representations Reviewer, the Depositor shall be permitted to find a replacement.
The Trustee shall not be liable for any failure to identify and appoint a successor asset representations reviewer so long as the
Trustee uses commercially reasonable efforts to conduct a search for a successor asset representations reviewer and such failure
is not a result of the Trustee’s negligence, bad faith or willful misconduct in the performance of its obligations hereunder.

 

(d)          Upon
any termination of the Asset Representations Reviewer and appointment of a successor to the Asset Representations Reviewer, the
Trustee shall, as soon as possible, give written notice thereof to the Special Servicers, the Master Servicer, the Certificate
Administrator (who shall, as soon as possible, give written notice thereof to the Certificateholders), the Operating Advisor, the
Mortgage Loan Seller, the Depositor and, prior to the occurrence and continuance of a Consultation Termination Event, the Directing
Holder and each Rating Agency. In the event that the Asset Representations Reviewer is terminated, all of

 

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its rights and obligations
under this Agreement shall terminate, other than any rights or obligations that accrued prior to the date of such termination (including
the right to receive all amounts accrued and owing to it under this Agreement) and other than indemnification rights (arising out
of events occurring prior to such termination).

 

[End of Article XII]

 

Article
XIII

MISCELLANEOUS PROVISIONS

 

Section 13.01 Amendment.  (a)
This Agreement may be amended from time to time by the parties hereto, without the consent of any of the Certificateholders or
the Companion Holders:

 

(i)           to
correct any defect or ambiguity in this Agreement in order to address any manifest error in any provision of this Agreement;

 

(ii)          to
cause the provisions in this Agreement to conform or be consistent with or in furtherance of the statements made in the Prospectus
(or in an offering document for any related non-offered certificates) with respect to the Certificates, the Trust or this Agreement
or to correct or supplement any of its provisions which may be inconsistent with any other provisions therein or to correct any
error;

 

(iii)         to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)         to
modify, eliminate or add to any of its provisions to such extent as shall be necessary to maintain the qualification of any Trust
REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code at all times that any Certificate
is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any Trust REMIC or the Grantor Trust;
provided that the Trustee and the Certificate Administrator have received an Opinion of Counsel (at the expense of the party
requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain such qualification or to avoid
or minimize the risk of the imposition of any such tax and (b) such action will not adversely affect in any material respect the
interests of any Certificateholder or Companion Holder;

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) or any other provision hereof restricting transfer of the
Class R Certificates; provided the Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel,
cause the Trust, any Trust REMIC or any of the Certificateholders (other than

 

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the Transferor) to be subject to a federal tax caused
by a Transfer to a Person that is a Disqualified Organization or a Non-U.S. Tax Person;

 

(vi)         to
revise or add any other provisions with respect to matters or questions arising under this Agreement or any other change; provided
that the required action shall not adversely affect in any material respect the interests of any Certificateholder or any holder
of a Serviced Companion Loan not consenting to such revision or addition, as evidenced in writing by an Opinion of Counsel, at
the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation from each of the Rating Agencies
with respect to such amendment or supplement and confirmation of the applicable rating agencies that such action will not result
in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to a Companion Loan, if any
(provided that such rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation
may be considered satisfied with respect to the Certificates pursuant to Section 3.25);

 

(vii)        to
amend or supplement any provision hereof to the extent necessary to maintain the then-current ratings assigned to each Class of
Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating Agencies and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25); provided that such amendment or supplement shall not adversely affect in any material respect the
interests of any Certificateholder not consenting to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 (with respect to reimbursement of Nonrecoverable Advances and Workout-Delayed
Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as a Control Termination Event has
not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded Loan, the Directing Holder, determine
that the commercial mortgage backed securities industry standard for such provisions has changed, in order to conform to such industry
standard, (b) such modification does not adversely affect the status of any Trust REMIC as a REMIC or the status of the Grantor
Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion of Counsel and (c) each Rating Agency
has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion Loan Securities, the applicable
rating agencies have delivered a confirmation that such action will not result in the downgrade, withdrawal or qualification of
its then-current ratings (provided that such rating agency confirmation may be considered satisfied in the same manner as
any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25);

 

(ix)          to
modify the procedures of this Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such amendment
shall not adversely

 

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affect in any material respects the interests of any Certificateholders, as evidenced by (x) an Opinion of
Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency rating such Certificates;
and provided, further, that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information
Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section 3.13(c) and the Certificate Administrator
shall post such notice to the Certificate Administrator’s Website; or

 

(x)          to
modify, eliminate or add to any provisions of this Agreement to such extent as would be necessary to comply with the requirements
for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary hereunder, without the consent of the Mortgage Loan Seller, or (B) may materially and adversely affect
the holders of a Companion Loan without such Companion Holder’s consent.

 

(b)          This
Agreement may also be amended from time to time by the parties hereto with the consent of the Holders of Certificates of each Class
affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting
the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement
or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no
such amendment shall:

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then-outstanding or such Companion Holders, as applicable; or

 

(iii)         adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)         change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
such Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
hereunder, without the consent of the Mortgage Loan Seller; or

 

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(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25) and, if required under the related Co-Lender Agreement, the consent
of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

(c)          Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the
Depositor, the Master Servicer nor the applicable Special Servicer will be required to consent to any amendment hereto without
having first received an Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted hereunder,
that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer,
the applicable Special Servicer, the Depositor, the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations
Reviewer or any other specified person in accordance with such amendment will not result in an Adverse REMIC Event or cause the
Grantor Trust to fail to qualify as a grantor trust under the relevant provisions of the Code. Furthermore, no amendment to this
Agreement may be made that changes in any material adverse respect the rights of the Loan-Specific Certificates without the consent
of such Class and no amendment to this Agreement may be made that changes any provisions specifically required to be included in
this Agreement by any Non-Serviced Co-Lender Agreement without the consent of the holder of the related Non-Serviced Pari Passu
Companion Loan(s).

 

(d)          Promptly
after the execution of any amendment to this Agreement, the Certificate Administrator shall post a copy of the same to the Certificate
Administrator’s Website, deliver a copy of the same to the 17g-5 Information Provider who shall post a copy of the same on
the 17g-5 Information Provider’s Website pursuant to Section 3.13(b) and Section 3.13(c), as applicable, and
thereafter, the Certificate Administrator shall furnish written notification of the substance of such amendment to each Certificateholder
and each Serviced Companion Noteholder, the Depositor, the Master Servicer, the Special Servicers, the Underwriters and the Rating
Agencies.

 

(e)          It
shall not be necessary for the consent of Certificateholders under this Section 13.01 to approve the particular form of
any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining
such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Certificate Administrator may prescribe.

 

(f)          The
Trustee and the Certificate Administrator shall not be obligated to enter into any amendment pursuant to this Section 13.01
that affects its rights, duties and immunities under this Agreement or otherwise.

 

(g)          The
cost of any Opinion of Counsel to be delivered pursuant to Section 13.01(a) or (c) shall be borne by the Person seeking
the related amendment, except that if

 

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the Master Servicer, the Certificate Administrator or the Trustee requests any amendment
of this Agreement in furtherance of the rights and interests of Certificateholders, the cost of any Opinion of Counsel required
in connection therewith pursuant to Section 13.01(a) or (c) shall be payable out of the Collection Account.

 

(h)          The
Servicing Standard shall not be amended unless each Rating Agency provides Rating Agency Confirmation and, with respect to any
class of Serviced Companion Loan Securities, the applicable rating agencies provide a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then-current ratings, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25).

 

(i)          To
the extent the Operating Advisor, the Trustee, Certificate Administrator, Master Servicer, the applicable Special Servicer, the
Asset Representations Reviewer or Depositor obtains an Opinion of Counsel as provided for in Section 13.01(c) in connection
with executing any amendment to this Agreement, such party shall be deemed not to have acted negligently in connection with entering
into such amendment for purposes of availing itself of any indemnity provided to such party under this Agreement.

 

(j)          Notwithstanding
any other provision of this Agreement, for purposes of the giving or withholding of consents pursuant to this Section 13.01,
Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights
with respect to matters described above as they would if any other Person held such Certificates, so long as neither the Depositor
nor any of its Affiliates is performing servicing duties with respect to any of the Mortgage Loans or the Trust Subordinate Companion
Loans.

 

(k)          This
Agreement may not be amended without the consent of any holder of a Serviced Companion Loan if such amendment would materially
and adversely affect the rights of such Companion Holder hereunder. With respect to any Serviced Whole Loan, in connection with
any amendment of this Agreement, the party requesting such amendment shall provide written notice (which may be by email) of such
proposed amendment to each Other Depositor (and counsel thereto) and the Other Certificate Administrator of each Other Securitization
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 this Agreement, the Certificate Administrator shall provide a copy of such amendment in an EDGAR-compatible format
to each Other Depositor (and counsel thereto) and the Other Certificate Administrator of each Other Securitization.

 

Section
13.02 Recordation of Agreement; Counterparts. (a) To the extent permitted by applicable law, this Agreement is
subject to recordation in all appropriate public offices for real property records in all the counties or other comparable
jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation to be effected by the Certificate Administrator at the expense of the
Depositor on direction by the applicable Special Servicer and with the consent of the Depositor (which may not be
unreasonably withheld), but only upon direction accompanied by an Opinion of Counsel (the cost of which shall be paid by the
Depositor) to the

 

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effect that such recordation materially and beneficially affects the interests of the Certificateholders.

 

(b)          For
the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such counterparts
shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in
Portable Document Format (PDF) or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart
of this Agreement.

 

(c)          The
Trustee shall make any filings required under the laws of the state of its place of business required solely by virtue of the fact
of the location of the Trustee’s place of business, the costs of which, if any, to be at the Trustee’s expense.

 

Section 13.03 Limitation
on Rights of Certificateholders.  (a) The death or incapacity of any Certificateholder shall not operate to terminate this Agreement
or the Trust, nor entitle such Certificateholder’s legal representatives or heirs to claim an accounting or to take any
action or proceeding in any court for a partition or winding up of the Trust, nor otherwise affect the rights, obligations and
liabilities of the parties hereto or any of them.

 

(b)          No
Certificateholder shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the
operation and management of the Trust, or the obligations of the parties hereto, nor shall anything herein set forth, or contained
in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members
of an association; nor shall any Certificateholder be under any liability to any third party by reason of any action taken by the
parties to this Agreement pursuant to any provision hereof.

 

(c)          No
Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding
in equity or at law upon or under or with respect to this Agreement, any Co-Lender Agreement, any Mortgage Loan or Trust Subordinate
Companion Loan, or with respect to the Certificates, unless, with respect to any suit, action or proceeding upon or under or with
respect to this Agreement, such Holder previously shall have given to the Trustee and the Certificate Administrator a written notice
of default, and of the continuance thereof, as herein before provided, or of the need to institute such suit, action or proceeding
on behalf of the Trust and unless also (except in the case of a default by the Trustee) the Holders of Certificates of any Class
evidencing not less than 25% of the related Percentage Interests in such Class shall have made written request upon the Trustee
to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such indemnity
reasonably satisfactory to it as it may require against the costs, expenses and liabilities to be incurred therein or thereby,
and the Trustee, for sixty (60) days after its receipt of such notice, request and offer of such indemnity, shall have neglected
or refused to institute any such action, suit or proceeding. The Trustee shall be under no obligation to exercise any of the trusts
or powers vested in it hereunder or to institute, conduct or defend any litigation hereunder or in relation hereto at the request,
order or direction of any of the Holders of Certificates unless such Holders have offered to the Trustee indemnity reasonably satisfactory
to it against the costs,

 

    -478-

     

    

 

expenses and liabilities which may be incurred therein or hereby. It is understood and intended, and expressly
covenanted by each Certificateholder with every other Certificateholder and the Trustee, that no one or more Holders of Certificates
shall have any right in any manner whatsoever by virtue of any provision of this Agreement or the Certificates to affect, disturb
or prejudice the rights of the Holders of any other of such Certificates, or to obtain or seek to obtain priority over or preference
to any other such Holder, which priority or preference is not otherwise provided for herein, or to enforce any right under this
Agreement or the Certificates, except in the manner herein or therein provided and for the equal, ratable and common benefit of
all Certificateholders. For the protection and enforcement of the provisions of this Section 13.03(c), each and every Certificateholder
and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

Section 13.04 Governing
Law; Submission to Jurisdiction; 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. THE PARTIES HERETO INTEND THAT THE PROVISIONS
OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

EACH OF THE PARTIES HERETO
IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED
STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT;
(II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING IN ANY SUCH
COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE ENFORCED
IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW; AND (IV) CONSENTS TO SERVICE OF PROCESS
UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR NOTICES HEREUNDER.

 

THE PARTIES HERETO HEREBY
WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM, WHETHER IN
CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 13.05 Notices.  (a)
Any communications provided for or permitted hereunder shall be in writing and, unless otherwise expressly provided herein, shall
be deemed to have been duly given if personally delivered at or couriered, sent by facsimile transmission (other than with respect
to the Mortgage Loan Seller) or mailed by registered mail, postage prepaid (except for notices to the Mortgage Loan Seller, the
Master Servicer the Certificate

 

    -479-

     

    

 

Administrator and the Trustee which shall be deemed to have been duly given only when received),
to:

 

In the case of the Depositor:

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

Fax number: (212) 428-1439

Email: leah.nivison@gs.com

 

with a copy to:

Peter Morreale

200 West Street

New York, New York 10282

Fax number: (212) 902-3000

Email: peter.morreale@gs.com

 

and

 

Joe Osborne

200 West Street

New York, New York 10282

Fax number: (212) 291-5318

Email: joe.osborne@gs.com

 

    -480-

     

    

 

In the case of the Master Servicer
and the AMA Plaza Special Servicer:

(For the Master Servicer)

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

Three Wells Fargo

401 S. Tryon Street, 8th Floor

MAC D1050-084

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Telecopy Number: (704) 715-0036

E-mail: commercial.servicing@wellsfargo.com

(For the AMA Plaza Special Servicer)

Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

Three Wells Fargo

MAC D1050-084, 401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Fax Number: (704) 715-0055

Email: dan.marthinsen@wellsfargo.com

 

In either case, with a copy to:

Wells Fargo Bank, National Association Legal Department

301 S. College St., TW-30

Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support

Reference: GS 2016-GS4

 

with a copy to:

K&L Gates LLP

Hearst Tower, 47th Floor

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann

Facsimile Number: (704) 353-3190

 

    -481-

     

    

 

In the case of the General Special
Servicer:

Midland Loan Services, a Division of PNC Bank, National Association,

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head,

Fax number: 1-888-706-3565

 

with a copy to:

Stinson Leonard Street LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

In the case of the 225 Bush Street
Special Servicer:

AEGON USA Realty Advisors, LLC

4333 Edgewood Road NE

Cedar Rapids, Iowa 52499

Attention: Greg Dryden, Senior Vice President, Special Servicing

Facsimile: (319) 355-8030

Email: gdryden@aegonusa.com

Email: specialservicing@aegonusa.com

 

In the case of the Controlling
Class Representative:

Eightfold Real Estate Capital, L.P.

1111 Lincoln Road, Suite 802

Miami Beach, Florida 33139

Attention: Brian Tageson

Email: btageson@eightfold.com

 

In the case of the Trustee:

Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware, 19890

Attention: CMBS Trustee – GS 2016-GS4

Facsimile number: (302) 636-4140

Email: cmbstrustee@wilmingtontrust.com,

 

    -482-

     

    

 

and with respect to any notice
or delivery of information under Article XI of this Agreement, by fax to (302) 636-4140 and by email to cmbstrustee@wilmingtontrust.com

 

In the case of the Certificate
Administrator:

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services
(CMBS)

GS Mortgage Securities Trust 2016-GS4

Telecopy Number: (410) 715-2380

 

with a copy to:

 

E-Mail: cts.cmbs.bond.admin@wellsfargo.com,
and to trustadministrationgroup@wellsfargo.com, except as otherwise set forth herein

 

In the case of the Mortgage Loan
Seller:

Goldman Sachs Mortgage Company

200 West Street

New York, New York 10282

Attention: Leah Nivison

Fax number: (212) 428-1439

Email: leah.nivison@gs.com

 

with a copy to:

Peter Morreale

200 West Street

New York, New York 10282

Fax number: (212) 902-3000

Email: peter.morreale@gs.com

 

and

 

Joe Osborne

200 West Street

New York, New York 10282

Fax number: (212) 291-5318

Email: joe.osborne@gs.com

 

    -483-

     

    

 

In the case of the Operating
Advisor and the Asset Representations Reviewer:

Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: GS 2016-GS4-Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

 

In the case of any mezzanine
lender:

The address set forth in the related Co-Lender Agreement.

 

To each such Person, such other address
as may hereafter be furnished by such Person to the parties hereto in writing. Any communication required or permitted to be delivered
to a Certificateholder shall be deemed to have been duly given when mailed first class, postage prepaid, to the address of such
Holder as shown in the Certificate Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives such notice.

 

(b)          Any
party required to deliver any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall deliver
such written notice of the events or information specified in Section 3.13(c) to the Rating Agencies at the address listed
below, promptly following the occurrence thereof. The Master Servicer or the applicable Special Servicer, the Certificate Administrator,
and Trustee also shall furnish such other information regarding the Trust as may be reasonably requested by the Rating Agencies
to the extent such party has or can obtain such information without unreasonable effort or expense; provided, however,
that such other information is first provided to the 17g-5 Information Provider in accordance with the procedures set forth in
Section 3.13(c); provided, further, that the 17g-5 Information Provider shall not disclose which Rating Agency
has requested such information. Notwithstanding the foregoing, the failure to deliver such notices or copies shall not constitute
a Servicer Termination Event, as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required
hereunder shall be in writing.

 

Any notices to the Rating Agencies
shall be sent to the following addresses:

 

S&P Global Ratings

55 Water Street, 41st Floor

New York, New York 10041

Attention: Commercial Mortgage Surveillance
Manager

Email: cmbs_info_17g5@standardandpoors.com

 

Moody’s Investors Service,
Inc.

7 World Trade Center

250 Greenwich Street

New York, New York 10007

Attention: Commercial Mortgage Surveillance
Group

 

    -484-

     

    

 

E-mail: CMBSSurveillance@moodys.com

 

Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: Commercial Mortgage Backed
Securities Surveillance

Facsimile No.: (212) 635-0295

E-mail: info.cmbs@fitchratings.com

 

Kroll Bond Rating Agency, Inc.

845 Third Avenue, 4th Floor

New York, New York 10022

Attention: CMBS Surveillance

Facsimile No.: (646) 731-2395

 

Section 13.06 Severability
of Provisions.  If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants,
agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions
of this Agreement or of the Certificates or the rights of the Holders thereof.

 

Section 13.07 Grant
of a Security Interest.  The Depositor intends that the conveyance of the Depositor’s right, title and interest in and
to the Mortgage Loans and the Trust Subordinate Companion Loans pursuant to this Agreement shall constitute a sale and not a pledge
of security for a loan. If such conveyance is deemed to be a pledge of security for a loan, however, the Depositor intends that
the rights and obligations of the parties to such loan shall be established pursuant to the terms of this Agreement. The Depositor
also intends and agrees that, in such event, (i) the Depositor shall be deemed to have granted to the Trustee (in such capacity)
a first priority security interest in the Depositor’s entire right, title and interest in and to the assets comprising the
Trust Fund, including without limitation, the Mortgage Loans and the Trust Subordinate Companion Loans, all principal and interest
received or receivable with respect to the Mortgage Loans and the Trust Subordinate Companion Loans (other than principal and
interest payments due and payable prior to the Cut-off Date and Principal Prepayments received prior to the Cut-off Date), all
amounts held from time to time in the Collection Account, the Distribution Accounts, the Gain-on-Sale Reserve Account, the Interest
Reserve Account and, if established, the applicable REO Account, and all reinvestment earnings on such amounts, and all of the
Depositor’s right, title and interest in and to the proceeds of any title, hazard or other Insurance Policies related to
such Mortgage Loans and the Trust Subordinate Companion Loans and (ii) this Agreement shall constitute a security agreement under
applicable law. This Section 13.07 shall constitute notice to the Trustee pursuant to any of the requirements of the applicable
UCC.

 

Section 13.08 Successors
and Assigns; Third Party Beneficiaries.  (a) The provisions of this Agreement shall be binding upon and inure to the benefit
of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Certificateholders.
The Mortgage Loan Seller (and its agents), each Companion Holder (and

 

    -485-

     

    

 

its respective agents), each Underwriter, each depositor
of a Regulation AB Companion Loan Securitization and each Initial Purchaser is an intended third-party beneficiary to this Agreement
in respect of the respective rights afforded it hereunder. No other person, including, without limitation, any Mortgagor, shall
be entitled to any benefit or equitable right, remedy or claim under this Agreement.

 

(b)          Each
Serviced Companion Noteholder shall be a third-party beneficiary to this Agreement in respect to the rights afforded it hereunder
and each Other Master Servicer shall be entitled to enforce the rights of the Serviced Companion Noteholder under this Agreement
and the related Co-Lender Agreement. Each of the Other Servicers, the Other Certificate Administrators and the Other Trustees shall
be a third-party beneficiary to this Agreement in respect to all provisions herein expressly relating to compensation, reimbursement
or indemnification of such Other Servicer, Other Certificate Administrator and Other Trustee, and any provisions regarding reimbursement
or advances or interest thereon to such Other Servicer, Other Certificate Administrator or Other Trustee.

 

(c)          Each
of the applicable Non-Serviced Trustee, Non-Serviced Master Servicer, Non-Serviced Special Servicer and any Non-Serviced Trust
holding a related Non-Serviced Companion Loan, shall be a third-party beneficiary to this Agreement in respect to its rights as
specifically provided for herein and under the applicable Non-Serviced Co-Lender Agreement.

 

(d)          Subject
to Section 2.03(i)(ii), and Section 2.03(j)(v), any Requesting Certificateholder shall be an express third-party
beneficiary to this Agreement for purposes of exercising rights under Section 2.03(i) through Section 2.03(m).

 

Section 13.09 Article
and Section Headings.  The article and section headings herein are for convenience of reference only, and shall not limit or
otherwise affect the meaning hereof.

 

Section 13.10 Notices
to the Rating Agencies.  (a) The Certificate Administrator shall use reasonable efforts promptly to provide notice to the 17g-5
Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.13(c), (and the
related 17g-5 information provider for any class of Serviced Companion Loan Securities to the extent applicable to any Serviced
Whole Loan) with respect to each of the following of which it has actual knowledge:

 

(i)           any
material change or amendment to this Agreement;

 

(ii)          the
occurrence of a Servicer Termination Event that has not been cured;

 

(iii)         the
resignation or termination of the Certificate Administrator, the Master Servicer, the Asset Representations Reviewer or any Special
Servicer; and

 

(iv)         the
repurchase or substitution of Mortgage Loans by the Mortgage Loan Seller pursuant to Section 6 of the Mortgage Loan Purchase Agreement.

 

    -486-

     

    

 

(b)          The
Master Servicer shall use reasonable efforts to promptly provide notice to the 17g-5 Information Provider for posting on the 17g-5
Information Provider’s Website pursuant to Section 3.13(c), with respect to each of the following of which it has
actual knowledge:

 

(i)          the
resignation or removal of the Trustee or the Certificate Administrator;

 

(ii)          any
change in the location of the Collection Account;

 

(iii)         any
event that would result in the voluntary or involuntary termination of any insurance of the accounts of the Trustee;

 

(iv)         any
change in the lien priority of any Mortgage Loan or Trust Subordinate Companion Loan with respect to an assumption of the Mortgage
Loan or Trust Subordinate Companion Loan or additional encumbrance described in Section 3.08;

 

(v)          any
additional lease to an anchor tenant or termination of any existing lease to an anchor tenant at retail properties for any Mortgage
Loan or Trust Subordinate Companion Loan with a Stated Principal Balance that is equal to or greater than the lesser of (1) an
amount greater than 5% of the then aggregate outstanding principal balances of the Mortgage Loans and (2) $35,000,000;

 

(vi)         any
material damage to any Mortgaged Property;

 

(vii)        any
assumption with respect to a Mortgage Loan or Trust Subordinate Companion Loan; and

 

(viii)       any
release or substitution of any Mortgaged Property.

 

(c)          The
Certificate Administrator shall promptly furnish notice to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website pursuant to Section 3.13(c), and thereafter to the Rating Agencies of (i) any change in the location
of the Distribution Accounts and (ii) the final payment to any Class of Certificateholders.

 

(d)          The
Trustee, the Certificate Administrator, the Master Servicer and any Special Servicer, as applicable, shall furnish to the 17g-5
Information Provider for posting on the 17g-5 Information Provider’s Website pursuant to Section 3.13(c), and thereafter
to each Rating Agency (and any rating agency for any class of Serviced Companion Loan Securities to the extent applicable to any
Serviced Whole Loan) with respect to each Mortgage Loan and each Trust Subordinate Companion Loan (other than any Non-Serviced
Mortgage Loan) such information as any Rating Agency shall reasonably request and which the Trustee, the Certificate Administrator,
the Master Servicer or Special Servicers, can reasonably provide in accordance with applicable law and without waiving any attorney-client
privilege relating to such information or violating the terms of this Agreement or any Mortgage Loan or Trust Subordinate Companion
Loan documents. The Trustee, the Certificate Administrator, the Master Servicer and any Special Servicer, as applicable, may include
any reasonable disclaimer it deems appropriate with respect to such information. Notwithstanding anything to the contrary herein,
nothing in this Section 13.10 shall require a party to provide duplicative notices or copies to the

 

    -487-

     

    

 

Rating Agencies with
respect to any of the above listed items. In connection with the delivery by the Master Servicer or any Special Servicer to the
17g-5 Information Provider of any information, report, notice or document for posting to the 17g-5 Information Provider’s
Website, the 17g-5 Information Provider shall notify the Master Servicer or the applicable Special Servicer when such information,
report, notice or document has been posted. The Master Servicer or the applicable Special Servicer, as applicable, may, but shall
not be obligated to send such information, report, notice or document to the applicable Rating Agency following the earlier of
(a) receipt of such notice from the 17g-5 Information Provider and (b) two Business Days following delivery to the 17g-5 Information
Provider.

 

Section 13.11 Cooperation
with the Mortgage Loan Seller with Respect to Rights Under the Loan Agreements. It is expressly agreed and understood that,
notwithstanding the assignment of the Mortgage Loan documents, it is expressly intended that the Mortgage Loan Seller get the
benefit of any securitization indemnification provisions in the Mortgage Loan documents. Therefore, the Depositor, Master Servicer,
the Special Servicer and Trustee hereby agree to reasonably cooperate with the Mortgage Loan Seller at the sole reasonable expense
of such Mortgage Loan Seller with respect to the benefits of the provisions of any section of a loan agreement or securitization
cooperation agreement related to indemnification of the lender and/or its affiliates with respect to any securitization of the
related Mortgage Loan, including, without limitation, reassignment to the Mortgage Loan Seller of such sections, but no other
portion of the Mortgage Loan documents, to permit the Mortgage Loan Seller and its respective affiliates to enforce such provisions
for their respective benefits; provided, that none of the Depositor, Master Servicer, Special Servicer or Trustee shall
be required to take any action that is inconsistent with the Servicing Standard, would violate applicable law, the terms and provisions
of this Agreement or the Mortgage Loan documents, would adversely affect any Certificateholder, would cause any Trust REMIC to
fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust for federal income tax purposes, or would
result in the imposition of a “prohibited transaction” or “prohibited contribution” tax under the REMIC
Provisions. To the extent that the Trustee is required to execute any document facilitating an assignment under this Section
13.11, such document shall be in form and substance reasonably acceptable to the Trustee.

 

Section 13.12 PNC
Bank, National Association.

 

PNC Bank, National Association,
by execution hereof by its division, Midland Loan Services, a Division of PNC Bank, National Association, acknowledges and agrees
that this Agreement is binding upon and enforceable against PNC Bank, National Association to the full extent of the obligations
set forth herein with respect to Midland Loan Services, a Division of PNC Bank, National Association.

 

[End of Article XIII]

 

[SIGNATURES COMMENCE ON FOLLOWING PAGE]

 

    -488-

     

    

 

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

 

	 	
        GS
MORTGAGE SECURITIES 

CORPORATION II, as Depositor 

	 	 	 
	 	By:	/s/ Leah Nivision
	 	 	Name: Leah Nivision
	 	 	Title:   Chief Executive Officer
	 	 	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION,

as Master Servicer 

	 	 	 
	 	By:	/s/ Joseph Newell III
	 	 	Name: Joseph Newell III  
	 	 	Title:   Director
	 	 	 
	 	MIDLAND LOAN SERVICES, A DIVISION

OF PNC BANK, NATIONAL 

ASSOCIATION,

as General Special Servicer 

	 	 	 
	 	By:	/s/ David D. Spotts
	 	 	Name: David D. Spotts
	 	 	Title:    Senior Vice President

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    

     

    

 

	 	
        WELLS FARGO BANK,
NATIONAL 

ASSOCIATION,
 as Certificate Administrator 

	 	 	 
	 	By:	/s/ Michael J. Baker
	 	 	Name: Michael J. Baker
	 	 	Title:   Vice President
	 	 	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION,

as AMA Plaza Special Servicer 

	 	 	 
	 	By:	/s/ Joseph Newell III
	 	 	Name: Joseph Newell III  
	 	 	Title:   Director  
	 	 	 
	 	aegon usa realty advisors,
llc,

as 225 Bush Street Special Servicer 
	 	 	 
	 	By:	/s/ David C. Feltman
	 	 	Name: David C. Feltman
	 	 	Title:   Executive Vice President
	 	 	 
	 	

WILMINGTON TRUST,
NATIONAL 

ASSOCIATION,

as Trustee

	 	 	 
	 	By:	/s/ Dorri Costello
	 	 	Name: Dorri Costello
	 	 	Title:   Vice President

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    

     

    

 

	 	 	 	 	 
	 	PARK
    BRIDGE LENDER SERVICES LLC,

    as Operating Advisor
	 	 	 	 	 
	 	By:	Park Bridge Advisors LLC

    Its Sole Member
	 	 	 	 	 
	 	 	By:	Park Bridge Financial LLC

    Its Sole Member
	 	 	 	 	 
	 	 	 	By:	/s/ Robert
    J. Spinna, Jr.
	 	 	 	 	Name: Robert J. Spinna, Jr.

    Title:   Managing Member

	 	 	 	 	 
	 	PARK BRIDGE LENDER SERVICES LLC,

as Asset Representations Reviewer
	 	 	 	 	 
	 	By:	Park Bridge Advisors LLC

Its Sole Member
	 	 	 	 	 
	 	 	By: 	Park Bridge Financial LLC

Its Sole Member
	 	 	 	 	 
	 	 	 	By:	/s/ Robert
    J. Spinna, Jr.
	 	 	 	 	Name: Robert J. Spinna, Jr.

Title:   Managing Member

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    

     

    

 

	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

 

On the 22 day of
November, 2016, before me, a notary public in and for said State, personally appeared Leah Nivison known to me to be a
CEO of GS Mortgage Securities Corporation II, that executed the within instrument, and also known to me to be the
person who executed it on behalf of such corporation, and acknowledged to me that such corporation executed the within
instrument.

 

IN WITNESS WHEREOF, I
have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/Artrisa Y. Williams
	 	Notary Public

 

	 	 

 

[SEAL]

 

My commission expires:

 

	5/24/2017	 

 

	ARTRISA Y. WILLIAMS	 
	Notary Public State of New York	 
	No. 01W1612039	 
	Qualified in New York County	 
	Commission Expires May 24, 2017	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF NORTH CAROLINA	)	 
	 	):	ss.
	COUNTY OF MECKLENBURG	)	 

 

On
this 21 day of November, 2016, personally appeared before me Joseph Newel1 III, to me known (or proved to me on the basis of satisfactory
evidence) to be a Director of Wells Fargo Bank, National Association, a national banking association, that executed the within
and foregoing instrument, and acknowledged that said instrument to be the free and voluntary act and deed of said entity, for
the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument, and that by his
signature on the instrument the entity upon behalf of which he acted, executed the instrument.

 

	 	/s/ Erica L. Smith	 
	 	Notary	 
	 	Name:	 

 

	My Commission expires:	ERICA L. SMITH

                           NOTARY PUBLIC

                           Gaston County

                           North Carolina

                           My Commission Expires 7/15/2017
	 
	 	 	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF KANSAS	)	 
	 	)	ss.:
	COUNTY OF JOHNSON	)	 

 

On the 21 st day of
November, 2016, before me, a notary public in and for said State, personally appeared David D. Spotts known to me to be
a Senior Vice President of Midland Loan Services, a Division of PNC Bank, National Association, that executed the
within instrument, and also known to me to be the person who executed it on behalf of such national banking association,
and acknowledged to me that such national banking association executed the within
instrument.

 

IN WITNESS WHEREOF, I
have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/ Brent Kinder
	 	Notary Public
	 	 
	 	BRENT KINDER

                                   NOTARY PUBLIC - State of Kansas

                                   My Appt. Exp. January 30, 2018

	 	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF NORTH CAROLINA	)	 
	 	):	ss.
	COUNTY OF MECKLENBURG	)	 

  

On this 21 day of
November, 2016, personally appeared before me Joseph Newel1 III, to me known (or proved to me on the basis of satisfactory
evidence) to be a Director of Wells Fargo Bank, National Association, a national banking association, that executed the
within and foregoing instrument, and acknowledged that said instrument to be the free and voluntary act and deed of said
entity, for the uses and purposes therein mentioned, and on oath stated that he was authorized to execute said instrument,
and that by his signature on the instrument the entity upon behalf of which he acted, executed the instrument.

 

	 	/s/ Erica L. Smith	 
	 	Notary	 
	 	Name:	 

 

	My Commission expires:	ERICA L. SMITH

                           NOTARY PUBLIC

                           Gaston County

                           North Carolina

                           My Commission Expires 7/15/2017
	 
	 	 	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF IOWA	)	 
	 	)	ss.:
	COUNTY OF LINN	)	 

 

On the 21st
day of November, 2016, before me, a notary public in and for said State, personally appeared David C. Feltman known to me to be
an Executive Vice President of AEGON USA Realty Advisors, LLC, that executed the within instrument, and also known to me to be
the person who executed it on behalf of such limited liability company, and acknowledged to me that such limited liability company
executed the within instrument.

 

IN WITNESS WHEREOF, I
have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	REBECCA JOHNSON	/s/ Rebecca Johnson
	Commission Number 782312	Notary Public
	My Commission Expires 	 
	January 23, 2017	 

 

[SEAL]

 

My commission expires:

	01/23/2017	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

 

On this 21st
day of November, 2016, before me, the undersigned, a Notary Public in and for the State of New York, duly commissioned and sworn,
personally appeared Robert J. Spinna, Jr., to me known who, by me duly sworn, did depose and acknowledge before me that he is
a Managing Member of Park Bridge Financial LLC, which is the sole member of Park Bridge Advisors LLC, which in turn is the sole
member of Park Bridge Lender Services LLC, the entity described in and that executed the foregoing instrument; and that he signed
his name thereto under authority of said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed the day and year first above written.

 

	 	/s/ Cathy Pampinella
	 	NOTARY PUBLIC in and for the 

State of New York

 

	[SEAL]	 
	 	 
	CATHY PAMPINELLA

        Notary Public State of New York

        Regirastion #01PA6303022

        Qualified In Suffolk County

        Commission Expires May 12, 2018
	 
	 	 
	My Commission expires:	 	 
	 	(Date)	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF Maryland	)	 
	 	)	ss.:
	COUNTY OF Howard	)	 

 

On the
18th day of November, 2016, before me, a notary public in and for said State, personally appeared Michael Baker
known to me to be a VP of Wells Fargo Bank, National Association, that executed the within instrument, and also known to me to be
the person who executed it on behalf of such national banking association, and acknowledged to me that such national banking
association executed the within instrument.

 

IN WITNESS WHEREOF, I
have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	 	/s/ Amy Martin
	 	Notary Public 

 

	[SEAL]	
	My commission expires:	AMY MARTIN 
NOTARY PUBLIC
	 	ANNE ARUNDEL COUNTY
	 	MARYLAND

                                 My Commission Expires 2-22-2017

	 	 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

 

    	 	 	 

     

    

 

	STATE OF DELAWARE	)	 
	 	)	ss.:
	COUNTY OF NEW CASTLE	)	 

 

On the 18th day of
November, 2016, before me, a notary public in and for said State, personally appeared Dorri Costello known to me to be a Vice
President of Wilmington Trust, National Association, that executed the within instrument, and also known to me to be
the person who executed it on behalf of such national banking association, and acknowledged to me that such limited
liability company executed the within instrument.

 

IN WITNESS WHEREOF, I
have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

 

	CHRISTINA BADER	/s/ Christina Bader
	MY COMMISSION 	Notary Public 
	EXPIRES MARCH 22, 2020

        NOTARY PUBLIC 
STATE OF DELAWARE	 
	 	 
	[SEAL]	 

 

	My commission expires:	 
	 	 

 

GS
2016-GS4: POOLING AND SERVICING AGREEMENT

  

    	 	 	 

     

    

 

	STATE OF NEW YORK	)	 
	 	)	ss:
	COUNTY OF NEW YORK	)	 

 

On
this 21st day of November, 2016, before me, the undersigned, a Notary Public in and for the State of New York,
duly commissioned and sworn, personally appeared Robert J. Spinna, Jr., to me known who, by me duly sworn, did depose
and acknowledge before me that he is a Managing Member of Park Bridge Financial LLC, which is the sole member of Park
Bridge Advisors LLC, which in turn is the sole member of Park Bridge Lender Services LLC, the entity described in and that
executed the foregoing instrument; and that he signed his name thereto under authority of said entity and on behalf of
such entity.

 

WITNESS my hand and seal hereto affixed the day and year first above written.

	 	 
	 	/s/ Cathy Pampinella
	 	NOTARY PUBLIC in and for the

State of New York

	 	 
	[SEAL]	 
	 	 
	CATHY
        PAMPINELLA 

        Notary Public, State of New York 

        Registration #01PA6303022 

        Qualified in Suffolk County 

        Commission Expires May 12, 2018

	 
	 	 
	My Commission expires: __________________ 

	 
	(Date)	 

 

GS 2016-GS4: POOLING AND SERVICING
AGREEMENT

 

    

     

    

 

 

EXHIBIT
A-1

 

FORM
OF CLASS A-1 CERTIFICATE

 

CLASS
A-1

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE

 

 

1
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

2
       Book-Entry Certificate legend.

 

    A-1-1

     

    

 

AND
WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY
REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR.

 

    A-1-2

     

    

 

	PASS-THROUGH
                                         RATE: 1.731%

         

        DENOMINATION:
        $[            ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
        DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-1 CERTIFICATES

        AS OF THE CLOSING DATE: $31,820,000

         
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
        NO.: 36251XAN7

         

        ISIN
        NO.: US36251XAN75

         

        COMMON
        CODE NO.: 152562357

         

        CERTIFICATE
        NO.: [A-1-1]

 

    A-1-3

     

    

 

CLASS A-1
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-1 Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-1 Certificates. The Certificates are designated
as the GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing Agreement.
The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    A-1-4

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-1 Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    A-1-5

     

    

 

for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-1 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-1-6

     

    

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website; or

 

    A-1-7

     

    

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)         reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of

 

    A-1-8

     

    

 

the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-1-9

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-1 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-1-10

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-1-11

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-1-12

     

    

 

EXHIBIT A-2

 

FORM OF CLASS A-2 CERTIFICATE

 

CLASS A-2

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-2

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE

 

 

 

1       Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

2
       Book-Entry Certificate legend.

 

    	A-2-1 

     

    

 

AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

    	A-2-2 

     

    

 

	
        PASS-THROUGH RATE: 2.905%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-2 CERTIFICATES

        AS OF THE CLOSING DATE: $201,522,000

         
	 	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND
        LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAP2

         

        ISIN NO.: US36251XAP24

         

        COMMON CODE NO.: 152562284

         

        CERTIFICATE NO.: [A-2-1] 

 

    	A-2-3 

     

    

 

CLASS A-2
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class A-2 Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class A-2 Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    	A-2-4 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class A-2 Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    	A-2-5 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class A-2 Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)            to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)           to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)          to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)         to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    	A-2-6 

     

    

 

(v)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)         to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)        to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)           to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    	A-2-7 

     

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)           reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)         change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    	A-2-8 

     

    

 

REO
Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-2-9 

     

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely
                    as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS A-2 CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    	A-2-10 

     

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional abbreviations may also be
used though not in the above list.

 

FORM OF TRANSFER

 

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    	A-2-11 

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	A-2-12 

     

    

 

EXHIBIT A-3

 

FORM OF CLASS A-3 CERTIFICATE

 

CLASS A-3

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-3

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE
AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR,
THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS
CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR
INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE
OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES
AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE

 

 

 

		1	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		2	Book-Entry
                                         Certificate legend.

 

    	A-3-1 

     

    

 

AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

    	A-3-2 

     

    

 

	
        PASS-THROUGH RATE: 3.178%

         

        DENOMINATION: $[               ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT
        (AS DEFINED HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-3 CERTIFICATES

        AS OF THE CLOSING DATE: $175,000,000

         
	
        MASTER SERVICER: WELLS FARGO
        BANK, NATIONAL ASSOCIATION

         

        GENERAL SPECIAL SERVICER:
        MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER:
        AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL
        ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR:
        WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER:
        PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAQ0

         

        ISIN NO.: US36251XAQ07

         

        COMMON CODE NO.: 152562292

         

        CERTIFICATE NO.: [A-3-1]

        

 

    	A-3-3 

     

    

 

CLASS A-3
CERTIFICATE

 

evidencing a beneficial ownership interest
in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two
subordinate interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion
Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due
after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance
policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate
Companion Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest
Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the
registered owner of the interest evidenced by this Certificate in the Class A-3 Certificates issued by the Trust created pursuant
to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one
of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof (herein called
the “Certificates”) and representing an interest in the Class of Certificates specified on the face hereof equal
to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified on the face hereof,
by the aggregate initial Certificate Balance of the Class A-3 Certificates. The Certificates are designated as the GS MORTGAGE
SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically
set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership
of the Trust.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect
to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of
the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions
of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder
by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms
specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing
Agreement shall govern.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate
is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage
Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully
described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided
in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United
States of America as at the time of payment is legal tender for the payment of public and private debts.

 

    	A-3-4 

     

    

 

Interest on this Certificate
will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period
relating to such Distribution Date at the Class A-3 Pass-Through Rate specified above on the Certificate Balance of this Certificate
immediately prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will
be in an amount equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates
of this Class as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth
in the Pooling and Servicing Agreement.

 

Realized Losses and certain
other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution
Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage
Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata among
the outstanding Certificates of such Class.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically
set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and
the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the
Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator
(with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts
may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be
paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under
the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution
on any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor
in the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire
instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds
to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution
on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously allocated to
this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the
Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed
to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders
to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts
of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable
in the Certificate Register only upon surrender of this Certificate

 

    	A-3-5 

     

    

 

for registration of transfer at the office of the Certificate
Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other
written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s
attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations
will be issued to the designated transferee or transferees.

 

Subject to the terms
of the Pooling and Servicing Agreement, the Class A-3 Certificates will be issued in book-entry form through the facilities of
DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class
evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate
(other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any
transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of
the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or
transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate
Registrar in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient
to cover any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate
Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer
and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent
of any of them, shall be affected by any notice to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the
Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    	A-3-6 

     

    

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)      to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)         to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)          to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    	A-3-7 

     

    

 

Notwithstanding the foregoing,
no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations
of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B)
may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each
Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting
the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling
and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided,
however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)          reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)          adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)          change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)          amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing,
none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be
required to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all
conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the
General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance
with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust
under the relevant provisions of the Code.

 

The Holders of the majority
of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer,
as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option,
upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other
parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through
exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion
of each

 

    	A-3-8 

     

    

 

REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on
which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates
are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided
that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class
R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to
(i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the
Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii)
360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created
by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator
to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction
of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from
a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event,
however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James,
living on the date hereof.

 

Unless the certificate
of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this
Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation
or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans
or the Trust Subordinate Companion Loans.

 

THIS CERTIFICATE AND
THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	A-3-9 

     

    

 

IN WITNESS WHEREOF,
the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 
	 	By:	 
			AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE
CLASS A-3 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Authenticating Agent
	 	 
	 	By:	 
			AUTHORIZED SIGNATORY

 

    	A-3-10 

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    	A-3-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	A-3-12 

     

    

 

EXHIBIT
A-4

 

FORM
OF CLASS A-4 CERTIFICATE

 

CLASS
A-4

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-4

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE

 

 

 

1       Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

2       Book-Entry
Certificate legend.

  

    A-4-1

     

    

 

AND
WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY
REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

    A-4-2

     

    

 

	PASS-THROUGH
        RATE: THE LESSER OF 3.442% 

        AND THE WEIGHTED AVERAGE NET 

        MORTGAGE RATE

         

        DENOMINATION:
        $[            ]

         

        DATE OF
        POOLING AND SERVICING 

        AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE

        POOLING AND SERVICING AGREEMENT (AS 

        DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION
        DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-4 CERTIFICATES

        AS OF THE CLOSING DATE: $267,043,000

         
	MASTER
        SERVICER: WELLS FARGO BANK, 

        NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN 

        SERVICES, A DIVISION OF 

        PNC BANK, NATIONAL 

        ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO 

        BANK, NATIONAL 

        ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON 

        USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL 

        ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO 

        BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER

        SERVICES LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK 

        BRIDGE LENDER SERVICES LLC

         

        CUSIP NO.:
        36251XAR8

         

        ISIN NO.:
        US36251XAR89

         

        COMMON CODE
        NO.: 152562306

         

        CERTIFICATE
        NO.: [A-4-1]

        

    A-4-3

     

    

 

CLASS A-4
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-4 Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-4 Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    A-4-4

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-4 Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    A-4-5

     

    

 

for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-4 Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-4-6

     

    

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website
pursuant to Section 3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to
the Certificate Administrator’s Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-4-7

     

    

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each

 

    A-4-8

     

    

 

REO
Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-4-9

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL
                    ASSOCIATION, not in its individual capacity but solely as Certificate Registrar
                    under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

		Dated:	November
                                         30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-4 CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
    as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-4-10

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF GIFT MIN ACT __________ Custodian
	TEN ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of	Under Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	common	Act __________________________
	 	 		(State)

 

Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

  

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

 

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

  

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-4-11

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________. Statements
should be mailed to _________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-4-12

     

    

 

EXHIBIT A-5

 

FORM OF CLASS A-AB CERTIFICATE

 

CLASS A-AB

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-AB

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE,
AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT
AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE
AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR,
THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS
CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL
AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS
CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR
INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(1) AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE
OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES
AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE

 

 

  

1         
                                         Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

2         
Book-Entry Certificate legend.

 

     A-5-1

     

    

 

AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS
FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE
LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE
MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY
OF THE CERTIFICATE ADMINISTRATOR. 

 

     A-5-2

     

    

 

	
        PASS-THROUGH RATE: THE LESSER OF 3.278%

 AND THE WEIGHTED AVERAGE
        NET 

MORTGAGE RATE

         

        DENOMINATION: $[          ]

         

        DATE OF POOLING AND SERVICING

 AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE 

POOLING AND SERVICING AGREEMENT
        (AS

 DEFINED HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-AB CERTIFICATES

        AS OF THE CLOSING DATE: $43,192,000

         
	
        MASTER SERVICER: WELLS FARGO
        BANK, 

NATIONAL ASSOCIATION

         

        GENERAL SPECIAL SERVICER:
        MIDLAND LOAN 

SERVICES, A DIVISION OF

 PNC BANK, NATIONAL 

ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO

 BANK, NATIONAL 

ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER:
        AEGON 

USA REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL
        

ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR:
        WELLS FARGO 

BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor: PARK BRIDGE LENDER

 SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER:
        PARK

 BRIDGE LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAS6

         

        ISIN NO.: US36251XAS62

         

        COMMON CODE NO.: 152562314

         

        CERTIFICATE NO.: [A-AB-1]

         

 

     A-5-3

     

    

 

CLASS
A-AB CERTIFICATE

 

evidencing a beneficial ownership interest
in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two
subordinate interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion
Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due
after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance
policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate
Companion Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest
Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the
registered owner of the interest evidenced by this Certificate in the Class A-AB Certificates issued by the Trust created pursuant
to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one
of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof (herein called
the “Certificates”) and representing an interest in the Class of Certificates specified on the face hereof equal
to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified on the face hereof,
by the aggregate initial Certificate Balance of the Class A-AB Certificates. The Certificates are designated as the GS MORTGAGE
SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically
set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership
of the Trust.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect
to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of
the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions
of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder
by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms
specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing
Agreement shall govern.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate
is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage
Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully
described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided
in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United
States of America as at the time of payment is legal tender for the payment of public and private debts.

 

     A-5-4

     

    

 

Interest on this Certificate
will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period
relating to such Distribution Date at the Class A-AB Pass-Through Rate specified above on the Certificate Balance of this Certificate
immediately prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will
be in an amount equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates
of this Class as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth
in the Pooling and Servicing Agreement.

 

Realized Losses and certain
other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution
Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage
Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata among
the outstanding Certificates of such Class.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically
set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and
the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the
Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator
(with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts
may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be
paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under
the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution
on any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor
in the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire
instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds
to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution
on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously allocated to
this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the
Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed
to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders
to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts
of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable
in the Certificate Register only upon surrender of this Certificate

 

     A-5-5

     

    

 

for registration of transfer at the office of the Certificate
Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other
written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s
attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations
will be issued to the designated transferee or transferees.

 

Subject to the terms
of the Pooling and Servicing Agreement, the Class A-AB Certificates will be issued in book-entry form through the facilities of
DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class
evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate
(other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any
transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of
the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or
transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate
Registrar in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient
to cover any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate
Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer
and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent
of any of them, shall be affected by any notice to the contrary.

 

The Pooling and Servicing
Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the
Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to
maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely
affect in any material respect the interests of any Certificateholder or Companion Holder;

 

     A-5-6

     

    

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)
    to amend or supplement any provision of the Pooling and Servicing Agreement to the extent
necessary to maintain the then-current ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by
a Rating Agency Confirmation from each of the Rating Agencies and confirmation of the applicable rating agencies that such
action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related to
a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of
the Pooling and Servicing Agreement); provided that such amendment or supplement shall not adversely affect in any
material respect the interests of any Certificateholder not consenting to such amendment or supplement, as evidenced by an
Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such
amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section 3.13(c)
of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

     A-5-7

     

    

 

Notwithstanding the foregoing,
no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations
of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller
as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B)
may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing
Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each
Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting
the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling
and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided,
however, that no such amendment shall:

 

(i)         reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)   
   adversely affect the Voting Rights of any Class of Certificates without the consent of the Holders of all
Certificates of such Class then outstanding; or

 

(iv)  
   change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of
the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan
Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan
Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing,
none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be
required to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel
(at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all
conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the
General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the
Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance
with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust
under the relevant provisions of the Code.

 

The Holders of the majority
of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer,
as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option,
upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other
parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through
exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion
of each

 

     A-5-8

     

    

 

REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on
which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates
are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided
that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class
R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to
(i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the
Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii)
360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created
by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator
to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction
of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from
a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event,
however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James,
living on the date hereof.

 

Unless the certificate
of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled
to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this
Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation
or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans
or the Trust Subordinate Companion Loans.

 

THIS CERTIFICATE AND
THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

     A-5-9

     

    

 

IN WITNESS WHEREOF,
the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	 By:	 
	 	 	 AUTHORIZED SIGNATORY
	 	 	 

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE
CLASS A-AB CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Authenticating Agent
	 	 	 
	 	 By:	 
	 	 	 AUTHORIZED SIGNATORY
	 	 	 

 

     A-5-10

     

    

 

ABBREVIATIONS

 

The following abbreviations, when used
in the inscription on the face of this Certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	
        TEN COM     -        as tenant in common

        TEN ENT       -        as tenants by
        the entireties

        JT TEN           -        as joint
tenants with rights of survivorship and not as tenants in 

  common
	
        UNIF GIFT MIN ACT __________
Custodian

(Cust)

        Under Uniform Gifts to Minors

         

        Act __________________________

        (State)

         

Additional abbreviations
may also be used though not in the above list. 

 

FORM OF TRANSFER

 

FOR VALUE RECEIVED, the
undersigned hereby sells, assigns and transfers unto ______________

 

 

(Please insert Social Security or other
identifying number of Assignee)

 

 

(Please print or typewrite name and address
of assignee)

 

 

 

the within Certificate and does hereby
or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register of the within-named Trust,
with full power of substitution in the premises.

 

	Dated: _______________	NOTICE: The signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

  

The signature must be guaranteed by a
commercial bank or trust company or by a member firm of the New York Stock Exchange or another national securities exchange. Notarized
or witnessed signatures are not acceptable.

 

     A-5-11

     

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include
the following for purposes of distribution:

 

Distributions shall be
made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

     A-5-12

     

    

 

EXHIBIT A-6

 

FORM OF CLASS X-A CERTIFICATE

 

CLASS X-A

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS X-A

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CLASS X-A CERTIFICATE HAS NO PRINCIPAL BALANCE
AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED
IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCES OF THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4 AND CLASS A-AB CERTIFICATES
AND THE CLASS A-S REGULAR INTEREST. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL
NOTIONAL AMOUNT SET FORTH BELOW.]

 

[THE NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE
TO THE HOLDERS OF THE CLASS X-A CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT OF PRINCIPAL 

 

 

 

		1	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		2	Book-Entry
                                         Certificate legend.

 

    A-6-1

    	 

    

 

PAYMENTS AND LOSSES ON THE MORTGAGE
LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

    A-6-2

    	 

    

 

	
        PASS-THROUGH RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT3

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE: DECEMBER
        12, 2016

         

        APPROXIMATE AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-A CERTIFICATES AS OF
        THE CLOSING DATE: $810,965,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAT4

         

        ISIN NO.: US36251XAT46

         

        COMMON CODE NO.: 152586248

         

        CERTIFICATE NO.: [X-A-1] [X-A-2]

 

 

 

		3	The
                                         initial approximate Pass-Through Rate as of the Closing Date is 0.605%.

 

 

    A-6-3

    	 

    

 

CLASS X-A
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class X-A Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Notional Amount
of the Class X-A Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of interest then distributable, if any, allocable to the Class of
Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.
All sums distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

    A-6-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class X-A Pass-Through Rate specified above on the Notional Amount of this Certificate immediately
prior to each Distribution Date. Interest allocated to this Certificate on any Distribution Date will be in an amount equal to
this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class as of
such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and
Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-6-5

    	 

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class X-A Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of
each such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-6-6

    	 

    

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)   to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-6-7

    	 

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    A-6-8

    	 

    

 

REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-6-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS X-A CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-6-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

		 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-6-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire
transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-6-12

    	 

    

 

EXHIBIT A-7

 

FORM OF CLASS X-B CERTIFICATE

 

CLASS X-B

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS X-B

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CLASS X-B CERTIFICATE HAS NO PRINCIPAL BALANCE
AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED
IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS B REGULAR INTEREST. ACCORDINGLY, THE NOTIONAL AMOUNT OF
THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[THE NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE
TO THE HOLDERS OF THE CLASS X-B CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE
LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW.]

 

 

 

		1	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		2	Book-Entry
                                         Certificate legend.

 

    A-7-1

    	 

    

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

    A-7-2

    	 

    

 

	
        PASS-THROUGH RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT3

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE: DECEMBER
        12, 2016

         

        APPROXIMATE AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-B CERTIFICATES AS OF
        THE CLOSING DATE: $48,761,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAU1

         

        ISIN NO.: US36251XAU19

         

        COMMON CODE NO.: 152586299

         

        CERTIFICATE NO.: [X-B-1]

        

 

 

 

		3	The
                                         initial approximate Pass-Through Rate as of the Closing Date is 0.101%.

 

    A-7-3

    	 

    

 

CLASS X-B
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class X-B Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Notional Amount
of the Class X-B Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of interest then distributable, if any, allocable to the Class of
Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.
All sums distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

    A-7-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class X-B Pass-Through Rate specified above on the Notional Amount of this Certificate immediately
prior to each Distribution Date. Interest allocated to this Certificate on any Distribution Date will be in an amount equal to
this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class as of
such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and
Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-7-5

    	 

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class X-B Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of
each such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-7-6

    	 

    

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)   to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-7-7

    	 

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    A-7-8

    	 

    

 

REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-7-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS X-B CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-7-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-7-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire
transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-7-12

    	 

    

 

EXHIBIT A-8

 

FORM OF CLASS X-D CERTIFICATE

 

CLASS X-D

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS X-D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

		1	Temporary
                                         Regulation S Book-Entry Certificate legend.

 

		2	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		3	Book-Entry
                                         Certificate legend.

 

    A-8-1

    	 

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

[THIS CLASS X-D CERTIFICATE HAS NO PRINCIPAL BALANCE
AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED
IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS D CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[THE NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE
TO THE HOLDERS OF THE CLASS X-D CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT OF PRINCIPAL PAYMENTS AND LOSSES ON THE MORTGAGE
LOANS. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

    A-8-2

    	 

    

 

	
        PASS-THROUGH RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT4

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE: DECEMBER
        12, 2016

         

        APPROXIMATE AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-D CERTIFICATES AS OF
        THE CLOSING DATE: $53,893,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAC1 

                              36251XAD9

                              U04052AB9

         

        ISIN NO.:  US36251XAC11 

                           US36251XAD93

                           USU04052AB90

         

        COMMON CODE NO.: 152562411

         

        CERTIFICATE NO.: [X-D-1][X-D-S-1]

 

 

 

		4	The
                                         initial approximate Pass-Through Rate as of the Closing Date is 0.571%.

 

    A-8-3

    	 

    

 

CLASS X-D
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class X-D Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Notional Amount
of the Class X-D Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of interest then distributable, if any, allocable to the Class of
Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.
All sums distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

    A-8-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class X-D Pass-Through Rate specified above on the Notional Amount of this Certificate immediately
prior to each Distribution Date. Interest allocated to this Certificate on any Distribution Date will be in an amount equal to
this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class as of
such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and
Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-8-5

    	 

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class X-D Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of
each such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)     to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-8-6

    	 

    

 

(v)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)   to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-8-7

    	 

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    A-8-8

    	 

    

 

REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-8-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS X-D CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-8-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-8-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire
transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-8-12

    	 

    

  

EXHIBIT
A-9

 

FORM
OF CLASS A-S CERTIFICATE

 

CLASS
A-S

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS A-S

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.] 1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.] 2

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN
OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE POOLING AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS PEZ CERTIFICATES,
PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

2
Book-Entry Certificate legend.

 

    	 A-9-1 

     

    

  

THIS
CERTIFICATE REPRESENTS BENEFICIAL OWNERSHIP OF A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”,
AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL
COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE
BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT
CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A AND CLASS X-B CERTIFICATES
AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	 A-9-2 

     

    

  

	PASS-THROUGH
                                         RATE: THE LESSER OF 3.645% AND THE WEIGHTED AVERAGE NET MORTGAGE RATE

         

        DENOMINATION:
        $[               ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
DISTRIBUTION DATE: DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS A-S CERTIFICATES

        AS OF THE CLOSING DATE: $92,388,000. The Aggregate Initial Certificate BALANCE
        of the Class A-S Certificates represents the maximum aggregate Certificate BALANCE of the Class A-S Certificates
        (without giving effect to any exchanges for other Exchangeable Certificates or any issuance of the Class PEZ Certificates).

         
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
        NO.: 36251XAV9

         

        ISIN
        NO.: US36251XAV91

         

        COMMON
        CODE NO.: 152562365

         

        CERTIFICATE
        NO.: [A-S-1]

        

		

 

    	 A-9-3 

     

    

 

CLASS A-S
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class A-S Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class A-S Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents beneficial ownership of a “regular interest” in a “real estate mortgage investment conduit”,
as those terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each
Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this
Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise
taxes and other taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    	 A-9-4 

     

    

  

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class A-S Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    	 A-9-5 

     

    

 

for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class A-S Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate, together with certain
other Exchangeable Certificates set forth in the Pooling and Servicing Agreement, may be exchanged for the Class PEZ Certificates,
pursuant to the procedures set forth in the Pooling and Servicing Agreement.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)         to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of

 

    	 A-9-6 

     

    

 

Counsel
(at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain
such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely
affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)      to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)        to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website

 

    	 A-9-7 

     

    

 

pursuant
to Section 3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; or

 

(x)         to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

    	 A-9-8 

     

    

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	 A-9-9 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO
                    BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Registrar under the
                    Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
                                         30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS A-S CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
    as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    	 A-9-10 

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF GIFT MIN ACT __________ Custodian
	TEN ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of	Under Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	common	Act __________________________
	 	 		(State)

Additional abbreviations
may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

 

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    	 A-9-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	 A-9-12 

     

    

 

EXHIBIT
A-10

 

FORM
OF CLASS B CERTIFICATE

 

CLASS
B

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS B

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.] 1

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.] 2

  

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

IN
ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN
OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE POOLING AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS PEZ CERTIFICATES,
PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND SERVICING AGREEMENT.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

2
Book-Entry Certificate legend.

 

    	 A-10-1 

     

    

 

THIS
CERTIFICATE REPRESENTS BENEFICIAL OWNERSHIP OF A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”,
AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL
COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE
BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT
CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR.

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A AND CLASS X-B CERTIFICATES
AND the Class A-S Regular Interest (and, correspondingly, to the extent evidencing an
interest in the Class A-S Regular Interest, the Class A-S and Class PEZ certificates) AS AND TO THE EXTENT SET FORTH IN
THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    	 A-10-2 

     

    

 

	PASS-THROUGH
                                         RATE: THE WEIGHTED AVERAGE NET MORTGAGE RATE MINUS 0.101%

         

        DENOMINATION:
        $[               ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
DISTRIBUTION DATE: DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS B CERTIFICATES

        AS OF THE CLOSING DATE: $48,761,000. The Aggregate Initial Certificate BALANCE
        of the Class B Certificates represents the maximum aggregate Certificate BALANCE of the Class B Certificates (without
        giving effect to any exchanges for other Exchangeable Certificates or any issuance of the Class PEZ Certificates).

         
	MASTER
                                         SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
        NO.: 36251XAW7

         

        ISIN
        NO.: US36251XAW74

         

        COMMON
        CODE NO.: 152562322

         

        CERTIFICATE
        NO.: [B-1]

        

        

        

        

		

 

    	 A-10-3 

     

    

 

CLASS B
CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class B Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class B Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents beneficial ownership of a “regular interest” in a “real estate mortgage investment conduit”,
as those terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each
Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this
Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise
taxes and other taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    	 A-10-4 

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class B Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loan allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    	 A-10-5 

     

    

 

for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class B Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

In
addition, subject to the conditions set forth in the Pooling and Servicing Agreement, this Certificate, together with certain
other Exchangeable Certificates set forth in the Pooling and Servicing Agreement, may be exchanged for the Class PEZ Certificates,
pursuant to the procedures set forth in the Pooling and Servicing Agreement.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)          to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)     
   to cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance
of the statements made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to
the Certificates, the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may
be inconsistent with any other provisions therein or to correct any error;

 

(iii)        to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of

 

    	 A-10-6 

     

    

 

Counsel
(at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable to maintain
such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not adversely
affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)         to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)        to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)          to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)          to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)          to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such amendment shall not adversely affect in any material respects the interests of any Certificateholders,
as evidenced by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation
from each Rating Agency rating such Certificates; and provided, further, that the Certificate Administrator shall
give notice of any such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website

 

    	 A-10-7 

     

    

 

pursuant
to Section 3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate
Administrator’s Website; or

 

(x)          to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)        change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)         amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

    	 A-10-8 

     

    

  

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	 A-10-9 

     

    

  

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO
                    BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Registrar under the
                    Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
                                         30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS B CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
    as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    	 A-10-10 

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF GIFT MIN ACT __________ Custodian
	TEN ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of	Under Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	common	Act __________________________
	 	 		(State)

 

Additional
abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

   

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

 

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    	 A-10-11 

     

    

   

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	 A-10-12 

     

    

 

EXHIBIT A-11

 

FORM OF CLASS PEZ CERTIFICATE

 

CLASS PEZ

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS PEZ

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

IN ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN
THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE MAY BE EXCHANGED FOR OTHER EXCHANGEABLE CERTIFICATES, PURSUANT TO THE PROCEDURES
SET FORTH IN THE POOLING AND SERVICING AGREEMENT.

 

 

 

		1	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		2	Book-Entry
                                         Certificate legend.

 

    A-11-1

    	 

    

 

THIS CERTIFICATE REPRESENTS BENEFICIAL OWNERSHIP OF
MULTIPLE “REGULAR INTERESTS” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR.

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A AND CLASS X-B CERTIFICATES AND the
Class A-S Regular Interest (and, correspondingly, to the extent evidencing an interest in the Class A-S Regular Interest, the Class
A-S and Class PEZ certificates), the Class B Regular Interest (and, correspondingly, to the extent evidencing an interest in the
Class B Regular Interest, the Class B and Class PEZ certificates) AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.]

 

    A-11-2

    	 

    

 

	
        PASS-THROUGH RATE: N/A. THE CLASS PEZ CERTIFICATES WILL BE ENTITLED TO RECEIVE
        THE SUM OF THE INTEREST DISTRIBUTABLE ON THE PERCENTAGE INTERESTS OF THE CLASS A-S, CLASS B AND CLASS C REGULAR INTERESTS REPRESENTED
        BY THE CLASS PEZ CERTIFICATES

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

CERTIFICATE BALANCE

OF THE CLASS PEZ CERTIFICATES

AS OF THE CLOSING DATE: $184,777,000. The Aggregate Initial Certificate BALANCE of the
Class PEZ Certificates is equal to the aggregate of the maximum initial Certificate BALANCEs of the Class A-S, Class B and
Class C Certificates (without giving effect to any exchanges for other Exchangeable Certificates), representing the maximum Certificate
BALANCE of the Class PEZ Certificates that could be issued in an exchange.
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAX5

         

        ISIN NO.: US36251XAX57

         

        COMMON CODE NO.: 152586337

         

        CERTIFICATE NO.: [PEZ-1]

         

 

    A-11-3

    	 

    

 

CLASS PEZ
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class PEZ Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class PEZ Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents beneficial
ownership of multiple “regular interests” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-11-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class PEZ Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-11-5

    	 

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class PEZ Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

In addition, subject to the conditions
set forth in the Pooling and Servicing Agreement, this Certificate may be exchanged for other Exchangeable Certificates, pursuant
to the procedures set forth in the Pooling and Servicing agreement.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)    to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is

 

    A-11-6

    	 

    

 

necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)     to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)    to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)   to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)  to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

    A-11-7

    	 

    

 

(x)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of

 

    A-11-8

    	 

    

 

the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-11-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS PEZ
CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-11-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-11-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire transfer or otherwise, in immediately
available funds to _________________________________ for the account of __________________________________ account number _______________
or, if mailed by check, to _______________________________________. Statements should be mailed to _______________________________________________________________.
This information is provided by assignee named above, or ______________________________, as its agent.

 

    A-11-12

    	 

    

 

EXHIBIT A-12

 

FORM OF CLASS C CERTIFICATE

 

CLASS C

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS C

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]2

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

IN ADDITION, SUBJECT TO THE CONDITIONS SET FORTH IN
THE POOLING AND SERVICING AGREEMENT, THIS CERTIFICATE, TOGETHER WITH CERTAIN OTHER EXCHANGEABLE CERTIFICATES SET FORTH IN THE POOLING
AND SERVICING AGREEMENT, MAY BE EXCHANGED FOR THE CLASS PEZ CERTIFICATES, PURSUANT TO THE PROCEDURES SET FORTH IN THE POOLING AND
SERVICING AGREEMENT.

 

 

 

		1	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		2	Book-Entry
                                         Certificate legend.

 

    A-12-1

    	 

    

 

THIS CERTIFICATE REPRESENTS BENEFICIAL OWNERSHIP OF
A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY,
IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR.

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A AND CLASS X-B CERTIFICATES AND the
Class A-S Regular Interest (and, correspondingly, to the extent evidencing an interest in the Class A-S Regular Interest, the Class
A-S and Class PEZ certificates) and the Class B Regular Interest (and, correspondingly, to the extent evidencing an interest in
the Class B Regular Interest, the Class B and Class PEZ certificates) AS AND TO THE EXTENT SET FORTH IN THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-12-2

    	 

    

 

	
        PASS-THROUGH RATE: THE WEIGHTED AVERAGE NET MORTGAGE RATE 3

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS C CERTIFICATES

        AS OF THE CLOSING DATE: $43,628,000. The Aggregate Initial Certificate BALANCE of the Class C
        Certificates represents the maximum aggregate Certificate BALANCE of the Class C Certificates (without giving effect to any exchanges
        for other Exchangeable Certificates or any issuance of the Class PEZ Certificates).

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAY3

         

        ISIN NO.: US36251XAY31

         

        COMMON CODE NO.: 152562349

         

        CERTIFICATE NO.: [C-1]

         

 

 

 

		3	The
                                         initial approximate Pass-Through Rate as of the Closing Date is 3.804%.

 

    A-12-3

    	 

    

 

CLASS
C CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class C Certificates issued by the Trust created pursuant to the Pooling
and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS MORTGAGE
SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor entity under
the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer,
the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations Reviewer.
A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not
defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class C Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents beneficial
ownership of a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined,
respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate,
by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with
the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed
on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-12-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class C Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-12-5

    	 

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class C Certificates will be issued in book-entry form through the facilities of DTC in minimum denominations
of $10,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing an additional
amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

In addition, subject to the conditions
set forth in the Pooling and Servicing Agreement, this Certificate, together with certain other Exchangeable Certificates set forth
in the Pooling and Servicing Agreement, may be exchanged for the Class PEZ Certificates, pursuant to the procedures set forth in
the Pooling and Servicing Agreement.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)    to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of

 

    A-12-6

    	 

    

 

Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)     to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)    to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)   to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)  to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website

 

    A-12-7

    	 

    

 

pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)    adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

    A-12-8

    	 

    

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-12-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS C CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-12-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable. 

 

    A-12-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire
transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-12-12

    	 

    

 

EXHIBIT A-13

 

FORM OF CLASS D CERTIFICATE

 

CLASS D

 

GS MORTGAGE
SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

		1	Temporary
                                         Regulation S Book-Entry Certificate legend.

 

		2	Legend
                                         required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

		3	Book-Entry
                                         Certificate legend.

 

    A-13-1

    	 

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A, CLASS X-B, CLASS A-S, CLASS B, CLASS PEZ AND CLASS C CERTIFICATES
AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-13-2

    	 

    

 

	
        PASS-THROUGH RATE: THE LESSER OF 3.233% AND THE WEIGHTED AVERAGE NET MORTGAGE
        RATE

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS D CERTIFICATES

        AS OF THE CLOSING DATE: $53,893,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XAA5

          36251XAB3

          U04052AA1

         

        ISIN NO.: US36251XAA54

          US36251XAB38

          USU04052AA18

         

        COMMON CODE NO.: 152562403

         

        CERTIFICATE NO.: [D-1] [D-S-1]

         

    A-13-3

    	 

    

 

CLASS
D CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class D Certificates issued by the Trust created pursuant to the Pooling
and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS MORTGAGE
SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor entity under
the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer,
the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations Reviewer.
A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not
defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class D Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-13-4

    	 

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class D Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

    A-13-5

    	 

    

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class D Certificates will be issued in book-entry form through the facilities of DTC in minimum denominations
of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing an additional
amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)    to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    A-13-6

    	 

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)     to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)    to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)   to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)   to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)     to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

    A-13-7

    	 

    

 

(x)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)    adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)    change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)     amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

    A-13-8

    	 

    

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-13-9

    	 

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS D CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-13-10

    	 

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription
on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-13-11

    	 

    

 

DISTRIBUTION INSTRUCTIONS

 

The assignee should include the following
for purposes of distribution:

 

Distributions shall be made, by wire
transfer or otherwise, in immediately available funds to _________________________________ for the account of __________________________________
account number _______________ or, if mailed by check, to _______________________________________. Statements should be mailed
to _______________________________________________________________. This information is provided by assignee named above, or ______________________________,
as its agent.

 

    A-13-12

    	 

    

 

EXHIBIT A-14

 

FORM OF CLASS E CERTIFICATE

 

CLASS E

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS E

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend. 

 

     A-14-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR

 

     A-14-2

     

    

 

NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A, CLASS X-B, CLASS X-D, CLASS A-S, CLASS B, CLASS PEZ, CLASS C AND CLASS
D CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

     A-14-3

     

    

 

	
        PASS-THROUGH RATE: THE WEIGHTED AVERAGE NET MORTGAGE RATE 4

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS E CERTIFICATES

        AS OF THE CLOSING DATE: $21,814,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:    36251XAE7 

                                 36251XAF4

        

                                 U04052AC7

         

        ISIN NO.:     US36251XAE76

        

        US36251XAF42

        

        USU04052AC73

         

        COMMON CODE NO.: 152562420

         

        CERTIFICATE NO.: [E-1] [E-S-1] 

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing Date is 3.804%. 

 

     A-14-4

     

    
 

CLASS
E CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loan due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class E Certificates issued by the Trust created pursuant to the Pooling
and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS MORTGAGE
SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor entity under
the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer,
the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations Reviewer.
A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not
defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class E Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

     A-14-5

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class E Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

     A-14-6

     

    

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class E Certificates will be issued in book-entry form through the facilities of DTC in minimum denominations
of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing an additional
amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)        to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)      to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

     A-14-7

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)      to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

     A-14-8

     

    

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)     change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)      amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

     A-14-9

     

    

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

     A-14-10

     

    

  

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity
    but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS E  CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

     A-14-11

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

     A-14-12

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

     A-14-13

     

    

 

EXHIBIT A-15

 

FORM OF CLASS F CERTIFICATE

 

CLASS F

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS F

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
      Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

     A-15-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE
ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY

 

     A-15-2

     

    

 

REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED
IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN
THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE
ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS A-1,
CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A, CLASS X-B, CLASS X-D, CLASS A-S, CLASS B, CLASS PEZ, CLASS C, CLASS D AND
CLASS E CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

     A-15-3

     

    

  

	
        PASS-THROUGH RATE: THE WEIGHTED AVERAGE NET MORTGAGE RATE 4

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS F CERTIFICATES

        AS OF THE CLOSING DATE: $10,266,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:   36251XAG2 

                                36251XAH0 

                                U04052AD5

         

        ISIN NO.:     US36251XAG25 

        US36251XAH08 

        USU04052AD56

         

        COMMON CODE NO.: 152562438

         

        CERTIFICATE NO.: [F-1] [F-S-1] 

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing Date is 3.804%. 

 

     A-15-4

     

    
 

CLASS
F CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class F Certificates issued by the Trust created pursuant to the Pooling
and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS MORTGAGE
SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor entity under
the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer,
the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations Reviewer.
A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the extent not
defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class F Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States
of America as at the time of payment is legal tender for the payment of public and private debts.

 

     A-15-5

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class F Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and the
Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

     A-15-6

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class F Certificates will be issued in book-entry form through the facilities of DTC in minimum denominations
of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing an additional
amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)        to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)      to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to
maintain the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant
provisions of the Code at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of
any tax on the Trust or any Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate
Administrator have received an Opinion of Counsel (at the expense of the party requesting such amendment) to the effect that
(a) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the
imposition of any such tax and (b) such action will not adversely affect in any material respect the interests of any
Certificateholder or Companion Holder;

 

     A-15-7

     

    

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)      to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

     A-15-8

     

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)      adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

     A-15-9

     

    

 

REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

     A-15-10

     

    

 

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity
    but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS IS ONE OF THE
CLASS F CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

     A-15-11

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	 as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	 as tenants by the entireties	     (Cust)
	JT TEN	-	 as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	 survivorship and not as tenants in	 
	 	 	  common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

     A-15-12

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

 

     A-15-13

     

    

 

EXHIBIT
A-16

 

FORM
OF CLASS G CERTIFICATE

 

CLASS
G

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS G

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-16-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER,
RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES)
TO AN INSTITUTION THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED
IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE
CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2),
(3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED, SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF
1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON
ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION
2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE
COMPANY GENERAL ACCOUNT” WITHIN THE MEANING OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF
SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL
ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION
OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE
OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE RELATED MORTGAGE LOANS FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY

 

    A-16-2

     

    

 

REIMBURSED FROM PRINCIPAL
COLLECTIONS ON THE MORTGAGE LOANS THAT RESULTED IN A REDUCTION OF THE PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE
BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT
CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4, CLASS A-AB, CLASS X-A, CLASS X-B, CLASS X-D, CLASS
A-S, CLASS B, CLASS PEZ, CLASS C, CLASS D, CLASS E AND CLASS F CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-16-3

     

    

 

 

	PASS-THROUGH
        RATE: THE WEIGHTED AVERAGE NET MORTGAGE RATE4

         

        DENOMINATION:
        $[ ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
        DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS G CERTIFICATES

        AS OF THE CLOSING DATE: $37,212,204

         
	MASTER
        SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor: PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
NO.: 36251XAJ6 

                              36251XAK3 

                              U04052AE3

         

        ISIN
NO.: US36251XAJ63 

                          US36251XAK37 

                          USU04052AE30

         

        COMMON
        CODE NO.: 152562446

         

        CERTIFICATE
NO.: [G-1] [G-S-1]

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing Date is 3.804%.

 

 

    A-16-4

     

    

 

CLASS
G CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class G Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class G Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    A-16-5

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class G Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the Mortgage
Loans, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    A-16-6

     

    

 

for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class G Certificates will be issued in book-entry form through the facilities
of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such
Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not
adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-16-7

     

    

 

(v)      
 to modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other
provision of the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the
Depositor has determined that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC
or any of the Certificateholders (other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person
that is a Disqualified Organization or a Disqualified Non-U.S. Tax Person;

 

(vi)      to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such
amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-16-8

     

    

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)      adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each

 

    A-16-9

     

    

 

REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-16-10

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE
CLASS G CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-16-11

     

    

  

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please insert Social Security or other identifying number of Assignee)

 

 

(Please print or typewrite name and address of assignee)

 

 

 

the within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE: The signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular without alteration or enlargement or any change whatever.

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-16-12

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-16-13

     

    

 

EXHIBIT
A-17

 

FORM
OF CLASS AMA-A CERTIFICATE

 

CLASS
AMA-A

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

SERIES
2016-GS4, CLASS AMA-A

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-17-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER,
RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES)
TO AN INSTITUTION THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED
IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE
CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2),
(3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE AMA PLAZA TRUST SUBORDINATE COMPANION LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED
FROM PRINCIPAL COLLECTIONS ON THE AMA PLAZA TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE AMA PLAZA PRINCIPAL
DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING
THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

    A-17-2 

     

    

 

 

	PASS-THROUGH
        RATE: 3.199416%

         

        DENOMINATION:
        $[          ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
        DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS AMA-A CERTIFICATES

        AS OF THE CLOSING DATE: $16,118,000

         
	MASTER
        SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor: PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
NO.: 36251XBB2

                              36251XBC0 

                              U04052AH6

         

        ISIN
NO.: US36251XBB29 

                          US36251XBC02

                          USU04052AH60

         

        COMMON
        CODE NO.: 152562462

         

        CERTIFICATE
NO.: [AMA-A-1] [AMA-A-S-1]

 

    A-17-3 

     

    

 

CLASS
AMA-A CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class AMA-A Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class AMA-A Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    A-17-4 

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class AMA-A Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the AMA Plaza
Trust Subordinate Companion Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the
Pooling and Servicing Agreement, the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for
the benefit of the Holders of Certificates specified in the Pooling and Servicing Agreement and the Master Servicer (with respect
to the Collection Account) or the Certificate Administrator (with respect to the Distribution Accounts) will be authorized to
make withdrawals therefrom. Amounts on deposit in such accounts may be invested in Permitted Investments. Interest or other investment
income earned on funds in the Collection Account will be paid to the Master Servicer as set forth in the Pooling and Servicing
Agreement. As provided in the Pooling and Servicing Agreement, withdrawals from the Collection Account shall be made from time
to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and the Trust Subordinate Companion Loans and administration of the
Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    A-17-5 

     

    

 

for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class AMA-A Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not
adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-17-6 

     

    

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)      to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such
amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-17-7 

     

    

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)      adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each

 

    A-17-8 

     

    

 

REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-17-9 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS AMA-A CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING
AGREEMENT.

 

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-17-10 

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please insert Social Security or other identifying number of Assignee)

 

 

(Please print or typewrite name and address of assignee)

 

 

 

the within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE: The signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular without alteration or enlargement or any change whatever.

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-17-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-17-12 

     

    

 

EXHIBIT
A-18

 

FORM
OF CLASS AMA-B CERTIFICATE

 

CLASS
AMA-B

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

SERIES
2016-GS4, CLASS AMA-B

 

[THIS
CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”)
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND
SERVICING AGREEMENT REFERRED TO BELOW.

 

NO
BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR
INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]2

 

[TRANSFERS
OF THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE, AND TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER,
THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE
ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF
THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS
ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-18-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

 

PRINCIPAL
PAYMENTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE
144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (A “QIB”), OR IS PURCHASING FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER,
RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES)
TO AN INSTITUTION THAT IS NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED
IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE
CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2),
(3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B) IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE CODE.

 

THE
PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL
DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES
ON THE AMA PLAZA TRUST SUBORDINATE COMPANION LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED
FROM PRINCIPAL COLLECTIONS ON THE AMA PLAZA TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE AMA PLAZA PRINCIPAL
DISTRIBUTION AMOUNT. ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING
THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS
CERTIFICATE IS SUBORDINATED TO THE CLASS AMA-A CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT
REFERRED TO HEREIN.]

 

    A-18-2 

     

    

 

 

	PASS-THROUGH
        RATE: 3.503849%

         

        DENOMINATION:
        $[          ]

         

        DATE
        OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF
        DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED HEREIN)

         

        CLOSING
        DATE: NOVEMBER 30, 2016

         

        FIRST
        DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE
        AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS AMA-B CERTIFICATES

        AS OF THE CLOSING DATE: $21,917,000

         
	MASTER
        SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        GENERAL
        SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225
        BUSH STREET SPECIAL SERVICER: AEGON USA REALTY ADVISORS, LLC

         

        TRUSTEE:
        WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE
        ADMINISTRATOR: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        OPERATING
        Advisor: PARK BRIDGE LENDER SERVICES
        LLC

         

        ASSET
        REPRESENTATIONS REVIEWER: PARK BRIDGE LENDER SERVICES LLC

         

        CUSIP
NO.: 36251XBF3

                              36251XBG1

                              U04052AK9

         

        ISIN
NO.: US36251XBF33

                          US36251XBG16

                          USU04052AK99

         

        COMMON
        CODE NO.: 152562489

         

        CERTIFICATE
NO.: [AMA-B-1] [AMA-B-S-1]

 

    A-18-3 

     

    

 

CLASS
AMA-B CERTIFICATE

 

evidencing
a beneficial ownership interest in a Trust Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage
Loans”) and two subordinate interests, each in a related trust subordinate companion loan (together, the “Trust
Subordinate Companion Loans”), all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate
Companion Loans due after the Cut-off Date, all REO Properties and revenues received in respect thereof, the mortgagee’s
rights under the insurance policies, any Assignment of Leases, and any guaranties or other collateral as security for the Mortgage
Loans and the Trust Subordinate Companion Loans and such amounts as shall from time to time be held in the Collection Account,
the Distribution Accounts, the Interest Reserve Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold
by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS
CERTIFIES THAT CEDE & CO. is the registered owner of the interest evidenced by this Certificate in the Class AMA-B Certificates
issued by the Trust created pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”,
which term includes any successor entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating
Advisor and the Asset Representations Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing
Agreement is set forth hereafter. To the extent not defined herein, the capitalized terms used herein shall have the meanings
assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof
(herein called the “Certificates”) and representing an interest in the Class of Certificates specified on the
face hereof equal to the quotient expressed as a percentage obtained by dividing the Denomination of this Certificate specified
on the face hereof, by the aggregate initial Certificate Balance of the Class AMA-B Certificates. The Certificates are designated
as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in
the classes as specifically set forth in the Pooling and Servicing Agreement. The Certificates will evidence in the aggregate
100% of the beneficial ownership of the Trust.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement and reference is made to that agreement for information
with respect to the interests, rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and
obligations of the Trustee and the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time,
the Certificateholder by virtue of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any
conflict between terms specified in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of
the Pooling and Servicing Agreement shall govern.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name
this Certificate is registered as of the related Record Date, an amount equal to such Person’s pro rata share (based
on the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest
then distributable, if any, allocable to the Class of Certificates of the same Class as this Certificate for such Distribution
Date, all as more fully described in the Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield
Maintenance Charges as provided in the Pooling and Servicing Agreement. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

    A-18-4 

     

    

 

Interest
on this Certificate will accrue (computed as if each year consisted of 360 days and each month consisted of 30 days) during the
Interest Accrual Period relating to such Distribution Date at the Class AMA-B Pass-Through Rate specified above on the Certificate
Balance of this Certificate immediately prior to each Distribution Date. Principal and interest allocated to this Certificate
on any Distribution Date will be in an amount equal to this Certificate’s pro rata share of the Available Funds to
be distributed on the Certificates of this Class as of such Distribution Date, with a final distribution to be made upon retirement
of this Certificate as set forth in the Pooling and Servicing Agreement.

 

Realized
Losses and certain other amounts on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable
Distribution Date to Certificateholders in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on
the Mortgage Loans and the Trust Subordinate Companion Loans allocated to any Class of Certificates will be allocated pro rata
among the outstanding Certificates of such Class.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries respecting the AMA Plaza
Trust Subordinate Companion Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the
Pooling and Servicing Agreement, the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for
the benefit of the Holders of Certificates specified in the Pooling and Servicing Agreement and the Master Servicer (with respect
to the Collection Account) or the Certificate Administrator (with respect to the Distribution Accounts) will be authorized to
make withdrawals therefrom. Amounts on deposit in such accounts may be invested in Permitted Investments. Interest or other investment
income earned on funds in the Collection Account will be paid to the Master Servicer as set forth in the Pooling and Servicing
Agreement. As provided in the Pooling and Servicing Agreement, withdrawals from the Collection Account shall be made from time
to time for purposes other than distributions to Certificateholders, such purposes including reimbursement of certain expenses
incurred with respect to the servicing of the Mortgage Loans and the Trust Subordinate Companion Loans and administration of the
Trust.

 

All
distributions under the Pooling and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other
than the final distribution on any Certificate) to Certificateholders of record on the related Record Date by check mailed to
the address set forth therefor in the Certificate Register or, provided that such Certificateholder has provided the Certificate
Administrator with wire instructions at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately
available funds to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor. The
final distribution on this Certificate (determined without regard to any possible future reimbursement of Realized Losses previously
allocated to this Certificate) shall be made in like manner, but only upon presentment and surrender of this Certificate at the
offices of the Certificate Registrar or such other location specified in the notice to Certificateholders of such final distribution.

 

Any
funds not distributed to any Holder or Holders of Certificates of such Class on such Distribution Date because of the failure
of such Certificateholders to tender their Certificates shall, on such date, be set aside and held uninvested in trust and credited
to the account or accounts of the appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to Section 4.01(h) of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within
six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for cancellation in order to receive the final distribution with
respect thereto. If within one year after the second notice all such Certificates shall not have been surrendered for cancellation,
the Certificate Administrator, directly or through an agent, shall take such steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate and subject to escheatment and other applicable laws.
The costs and expenses of holding such funds in trust and of contacting such Certificateholders following the first anniversary
of the delivery of such second notice to the non-tendering Certificateholders shall be paid out of such funds. No interest shall
accrue or be payable to any Certificateholder on any amount held in trust under the Pooling and Servicing Agreement by the Certificate
Administrator as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof
in accordance with Section 4.01(h) of the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register only upon surrender of this Certificate

 

    A-18-5 

     

    

 

for registration of transfer at the office
of the Certificate Registrar or at the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the
form below or other written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder
hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject
to the terms of the Pooling and Servicing Agreement, the Class AMA-B Certificates will be issued in book-entry form through the
facilities of DTC in minimum denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate
of each such Class evidencing an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange of any Certificate (other than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement.
In connection with any transfer to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs
(including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions, submitted
by the transferor or transferee to the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement)
incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by each
transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer
or exchange.

 

The
Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the
225 Bush Street Special Servicer and the Certificate Registrar, and any agent of any of them, may treat the Person in whose name
this Certificate is registered as the owner hereof for all purposes, and neither the Trustee, the Certificate Administrator, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate
Registrar, nor any agent of any of them, shall be affected by any notice to the contrary.

 

The
Pooling and Servicing Agreement may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders
or the Companion Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion
of Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will not
adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-18-6 

     

    

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency
Confirmation from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable
rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of
any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied
in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to
Section 3.25 of the Pooling and Servicing Agreement);

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current
ratings assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of
the Rating Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that
such amendment or supplement shall not adversely affect in any material respect the interests of any Certificateholder not consenting
to such amendment or supplement, as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has
changed, in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust
REMIC as a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced
by an Opinion of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of
Serviced Companion Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result
in the downgrade, withdrawal or qualification of its then current ratings (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced
by (x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating Agency
rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any such
amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-18-7 

     

    

 

Notwithstanding
the foregoing, no such amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or
the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the
Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage
Loan Seller or (B) may materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The
Pooling and Servicing Agreement may also be amended from time to time by the parties thereto with the consent of the Holders of
Certificates of each Class affected by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage
Interests constituting the Class for the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of the Pooling and Servicing Agreement or of modifying in any manner the rights of the Holders of Certificates of such
Class; provided, however, that no such amendment shall:

 

(i)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)      adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such
rating agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered
satisfied with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under
the related Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding
the foregoing, none of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator,
the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special
Servicer will be required to consent to any amendment to the Pooling and Servicing Agreement without having first received an
Opinion of Counsel (at the Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing
Agreement, that all conditions precedent have been satisfied and that such amendment or the exercise of any power granted to the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor,
the Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The
Holders of the majority of the Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush
Street Special Servicer, as applicable, the Master Servicer or the Holders of the Class R Certificates may, in that order of priority,
at their option, upon no less than 60 days’ prior written notice given to the Trustee, the Certificate Administrator and
each of the other parties to the Pooling and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property
acquired through exercise of remedies in respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the
Trust’s portion of each

 

    A-18-8 

     

    

 

REO Property remaining in the Trust Fund, and thereby effect termination of the Trust and early
retirement of the then-outstanding Certificates, on or after the first Distribution Date on which the aggregate Stated Principal
Balances of the Mortgage Loans and the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date
Principal Balance of the Mortgage Loans as set forth in the Pooling and Servicing Agreement.

 

Following
the date on which the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class
D Certificates are retired and the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to
zero (and provided that there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates
(other than the Class R Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer
is paid a fee equal to (i) the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates
(other than the Class X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three,
divided by (ii) 360, to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans,
the Trust Subordinate Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and
Servicing Agreement.

 

The
obligations created by the Pooling and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate
Administrator to make payments to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate
upon reduction of the Certificate Balances of all the Certificates to zero (including, without limitation, any such final payment
resulting from a termination of the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement.
In no event, however, will the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court
of St. James, living on the date hereof.

 

Unless
the certificate of authentication hereon has been executed by the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar
has executed this Certificate on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes
no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates,
the Mortgage Loans or the Trust Subordinate Companion Loans.

 

THIS
CERTIFICATE AND THE POOLING AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-18-9 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS
AMA-B CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-18-10 

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional abbreviations may also be used though not in the above list.

 

FORM
OF TRANSFER

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please insert Social Security or other identifying number of Assignee)

 

 

(Please print or typewrite name and address of assignee)

 

 

 

the within Certificate and does hereby
or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register of the within-named Trust,
with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE: The signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular without alteration or enlargement or any change whatever.

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.

 

    A-18-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _________________________________ for the account
of __________________________________ account number _______________ or, if mailed by check, to _______________________________________.
Statements should be mailed to _______________________________________________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-18-12 

     

    

 

EXHIBIT A-19

 

FORM OF CLASS AMA-C CERTIFICATE

 

CLASS AMA-C

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS AMA-C

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

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INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE AMA PLAZA TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE AMA
PLAZA TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE AMA PLAZA PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY,
THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN
ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS AMA-A
AND CLASS AMA-B CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

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        PASS-THROUGH RATE: 3.813991%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS AMA-C CERTIFICATES

        AS OF THE CLOSING DATE: $27,032,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBH9

              36251XBJ5

              U04052AL7

         

        ISIN NO.: US36251XBH98

          US36251XBJ54

          USU04052AL72

         

        COMMON CODE NO.: 152562497

         

        CERTIFICATE NO.: [AMA-C-1] [AMA-C-S-1] 

 

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CLASS
AMA-C CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class AMA-C Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class AMA-C Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

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Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class AMA-C Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the AMA Plaza Trust Subordinate Companion Loan,
all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

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for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class AMA-C Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

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any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

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material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(i) reduce in any manner the amount
of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion Loans that are required
to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be
distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii) reduce the aforesaid percentage
of Certificates of any Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain
consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without the consent of the Holders
of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii) adversely affect the Voting Rights
of any Class of Certificates without the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iv) change in any manner any defined
term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase
Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing
Agreement, without the consent of the Mortgage Loan Seller; or

 

(v) amend the Servicing Standard without
the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related Co-Lender Agreement, the consent of
the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the

 

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Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the
Trustee, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person
in accordance with such amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a
grantor trust under the relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-19-9

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS AMA-C CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-19-10

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-19-11

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-19-12

     

    

 

EXHIBIT A-20

 

FORM OF CLASS AMA-D CERTIFICATE

 

CLASS AMA-D

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS AMA-D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-20-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE AMA PLAZA TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT

 

    A-20-2

     

    

 

WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE AMA
PLAZA TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE AMA PLAZA PRINCIPAL DISTRIBUTION AMOUNT. ACCORDINGLY,
THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN
ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS AMA-A,
CLASS AMA-B AND CLASS AMA-C CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-20-3

     

    

 

	
        PASS-THROUGH RATE: 3.557285%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS AMA-D CERTIFICATES

        AS OF THE CLOSING DATE: $36,533,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBK2

              36251XBL0

              U04052AM5

         

        ISIN NO.: US36251XBK28

          US36251XBL01

          USU04052AM55

         

        COMMON CODE NO.: 152562519

         

        CERTIFICATE NO.: [AMA-D-1] [AMA-D-S-1] 

 

    A-20-4

     

    

 

CLASS
AMA-D CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class AMA-D Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class AMA-D Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-20-5

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class AMA-D Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the AMA Plaza Trust Subordinate Companion Loan,
all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-20-6

     

    

 

for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class AMA-D Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-20-7

     

    

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-20-8

     

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)         reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)        reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    A-20-9

     

    

 

REO
Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-20-10

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS AMA-D CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-20-11

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-20-12

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-20-13

     

    

 

EXHIBIT A-21

 

FORM OF CLASS X-AMA CERTIFICATE

 

CLASS X-AMA

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS X-AMA

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-21-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

[THIS CLASS X-AMA CERTIFICATE HAS NO PRINCIPAL BALANCE
AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED
IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS AMA-A, CLASS AMA-B, CLASS AMA-C OR CLASS AMA-D CERTIFICATES.
ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT SET FORTH BELOW.]

 

[THE NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE
TO THE HOLDERS OF THE CLASS X-AMA CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT OF PRINCIPAL PAYMENTS AND LOSSES ON THE AMA
PLAZA TRUST SUBORDINATE COMPANION LOAN. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS THAN THAT SET
FORTH BELOW.]

 

    A-21-2

     

    

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

    A-21-3

     

    

 

	
        PASS-THROUGH RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT4

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-AMA CERTIFICATES AS OF
        THE CLOSING DATE: $101,600,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBD8

              36251XBE6

              U04052AJ2

         

        ISIN NO.: US36251XBD84

           US36251XBE67

           USU04052AJ27

         

        COMMON CODE NO.: 152586353

         

        CERTIFICATE NO.: [X-AMA-1] 

 

 

 

4
The initial approximate Pass-Through Rate as of the Closing Date is 0.000000%.

 

    A-21-4

     

    

 

CLASS X-AMA
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class X-AMA Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Notional Amount
of the Class X-AMA Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial
Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of interest then distributable, if any, allocable to the Class of
Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.
All sums distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

    A-21-5

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class X-AMA Pass-Through Rate specified above on the Notional Amount of this Certificate immediately
prior to each Distribution Date. Interest allocated to this Certificate on any Distribution Date will be in an amount equal to
this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class as of
such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and
Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the AMA Plaza Trust Subordinate Companion Loan,
all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-21-6

     

    

 

for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class X-AMA Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of
each such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

    A-21-7

     

    

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

    A-21-8

     

    

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)         reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each

 

    A-21-9

     

    

 

REO
Property remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding
Certificates, on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and
the portion of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage
Loans as set forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-21-10

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS X-AMA CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-21-11

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-21-12

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-21-13

     

    

 

EXHIBIT A-22

 

FORM OF CLASS 225-A CERTIFICATE

 

CLASS 225-A

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS 225-A

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
       Temporary Regulation S Book-Entry Certificate legend.

 

2
       Legend required as long as DTC is the Depository under the Pooling and Servicing
Agreement.

 

3
       Book-Entry Certificate legend.

 

    A-22-1

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE 225 BUSH STREET TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE 225 BUSH STREET PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

    A-22-2

     

    

 

	
        PASS-THROUGH RATE: 2.635985%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS 225-A CERTIFICATES

        AS OF THE CLOSING DATE: $12,964,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBM8

              36251XBN6

              U04052AN3

         

        ISIN NO.: US36251XBM83

          US36251XBN66

          USU04052AN39

         

        COMMON CODE NO.: 152562527

         

        CERTIFICATE NO.: [225-A-1] [225-A-S-1] 

 

    A-22-3

     

    

 

CLASS
225-A CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class 225-A Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class 225-A Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

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Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class 225-A Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

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for
registration of transfer at the office of the Certificate Registrar or at the office of its transfer agent, duly endorsed by,
or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Certificate
Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact duly authorized in writing, and thereupon
one or more new Certificates of the same Class in authorized Denominations will be issued to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class 225-A Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)         to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)        to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

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any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)        to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

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material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(xi)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(xii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(xiii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(xiv)     change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(xv)      amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

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Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

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IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS 225-A CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

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ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

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DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-22-12

     

    

 

EXHIBIT A-23

 

FORM OF CLASS 225-B CERTIFICATE

 

CLASS 225-B

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS 225-B

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
                                                Temporary Regulation S Book-Entry Certificate
                                         legend.

 

2        Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

3        Book-Entry
Certificate legend.

 

    A-23-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE 225 BUSH STREET TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE 225 BUSH STREET PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS 225-A
CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-23-2 

     

    

 

	
        PASS-THROUGH RATE: 2.993892%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS 225-B CERTIFICATES

        AS OF THE CLOSING DATE: $18,405,000

         
	 	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBR7 

               36251XBS5 

               U04052AQ6

         

        ISIN NO.: US36251XBR70 

                   US36251XBS53 

                   USU04052AQ69

         

        COMMON CODE NO.: 152562535

         

        CERTIFICATE NO.: [225-B-1] [225-B-S-1]

	 	 	 

 

    A-23-3 

     

    

 

CLASS
225-B CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class 225-B Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class 225-B Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-23-4 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class 225-B Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-23-5 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class 225-B Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(xvi)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(xvii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(xviii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(xix)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    A-23-6 

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(xx)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(xxi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(xxii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(xxiii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(xxiv)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

    A-23-7 

     

    

 

material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(xxv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(xxvi)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(xxvii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(xxviii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(xxix)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(xxx)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

    A-23-8 

     

    

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-23-9 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS 225-B CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-23-10 

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-23-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-23-12 

     

    

 

EXHIBIT A-24

 

FORM OF CLASS 225-C CERTIFICATE

 

CLASS 225-C

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS 225-C

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
                                                Temporary Regulation S Book-Entry Certificate
                                         legend.

 

2        Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

3        Book-Entry
Certificate legend.

 

    A-24-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE 225 BUSH STREET TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE 225 BUSH STREET PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS 225-A
AND CLASS 225-B CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-24-2 

     

    

 

	
        PASS-THROUGH RATE: 3.777571%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS 225-C CERTIFICATES

        AS OF THE CLOSING DATE: $22,576,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBT3 

               36251XBU0 

               U04052AR4

         

        ISIN NO.: US36251XBT37 

                   US36251XBU00 

                   USU04052AR43

         

        COMMON CODE NO.: 152562543

         

        CERTIFICATE NO.: [225-C-1] [225-C-S-1]

	 	 

 

    A-24-3 

     

    

 

CLASS
225-C CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class 225-C Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class 225-C Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-24-4 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class 225-C Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-24-5 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class 225-C Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    A-24-6 

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

    A-24-7 

     

    

 

material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(i) reduce in any manner the amount
of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion Loans that are required
to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or which are required to be
distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii) reduce the aforesaid percentage
of Certificates of any Class the Holders of which are required to consent to any such amendment or remove the requirement to obtain
consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without the consent of the Holders
of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii) adversely affect the Voting Rights
of any Class of Certificates without the consent of the Holders of all Certificates of such Class then outstanding; or

 

(iv) change in any manner any defined
term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under the Mortgage Loan Purchase
Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary under the Pooling and Servicing
Agreement, without the consent of the Mortgage Loan Seller; or

 

(v) amend the Servicing Standard without
the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each Rating Agency and confirmation
of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification of its then-current
ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related Co-Lender Agreement, the consent of
the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special

 

    A-24-8 

     

    

 

Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-24-9 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS 225-C CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-24-10 

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-24-11 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-24-12 

     

    

 

EXHIBIT A-25

 

FORM OF CLASS 225-D CERTIFICATE

 

CLASS 225-D

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS 225-D

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
                                                Temporary Regulation S Book-Entry Certificate
                                         legend.

 

2        Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

3        Book-Entry
Certificate legend.

 

    A-25-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE 225 BUSH STREET TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT

 

    A-25-2 

     

    

 

WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE 225 BUSH STREET PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS 225-A,
CLASS 225-B AND CLASS 225-C CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.]

 

    A-25-3 

     

    

 

	
        PASS-THROUGH RATE: 4.766193%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS 225-D CERTIFICATES

        AS OF THE CLOSING DATE: $30,673,000

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.: 36251XBV8

              36251XBW6

              U04052AS2

         

        ISIN NO.: US36251XBV82 

           US36251XBW65 

           USU04052AS26

         

        COMMON CODE NO.: 152562551

         

        CERTIFICATE NO.: [225-D-1] [225-D-S-1]

	 	 

    A-25-4 

     

    

 

CLASS
225-D CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class 225-D Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class 225-D Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    A-25-5 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class 225-D Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    A-25-6 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class 225-D Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    A-25-7 

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)       to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

    A-25-8 

     

    

 

material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(xi)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(xii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(xiii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(xiv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(xv)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

    A-25-9 

     

    

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-25-10 

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November
30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS 225-D CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    A-25-11 

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-25-12 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-25-13 

     

    

 

EXHIBIT A-26

 

FORM OF CLASS 225-E CERTIFICATE

 

CLASS 225-E

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS 225-E

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1
                                                Temporary Regulation S Book-Entry Certificate
                                         legend.

 

2        Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

3        Book-Entry
Certificate legend.

 

    	 A-26-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

PRINCIPAL PAYMENTS IN RESPECT OF THIS CERTIFICATE
ARE DISTRIBUTABLE AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

THE PORTION OF THE CERTIFICATE BALANCE OF THE CERTIFICATES
EVIDENCED BY THIS CERTIFICATE WILL BE DECREASED BY THE PORTION OF PRINCIPAL DISTRIBUTIONS ON THE CERTIFICATES AND THE PORTION OF
REALIZED LOSSES ALLOCABLE TO THIS CERTIFICATE AND WILL BE INCREASED BY RECOVERIES ON THE 225 BUSH STREET TRUST SUBORDINATE COMPANION
LOAN FOR NONRECOVERABLE ADVANCES (PLUS INTEREST THEREON) THAT

 

    	 A-26-2 

     

    

 

WERE PREVIOUSLY REIMBURSED FROM PRINCIPAL COLLECTIONS ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN THAT RESULTED IN A REDUCTION OF THE 225 BUSH STREET PRINCIPAL DISTRIBUTION AMOUNT.
ACCORDINGLY, THE CERTIFICATE BALANCE OF THIS CERTIFICATE MAY BE LESS THAN THAT SET FORTH BELOW. ANYONE ACQUIRING THIS CERTIFICATE
MAY ASCERTAIN ITS CURRENT CERTIFICATE BALANCE BY INQUIRY OF THE CERTIFICATE ADMINISTRATOR. 

 

[THIS CERTIFICATE IS SUBORDINATED TO THE CLASS 225-A,
CLASS 225-B, CLASS 225-C AND CLASS 225-D CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.]

 

    	 A-26-3 

     

    
 

	
        PASS-THROUGH RATE: 5.544562%

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE

        CERTIFICATE BALANCE

        OF THE CLASS 225-E CERTIFICATES

        AS OF THE CLOSING DATE: $28,382,000

         
	 	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:  36251XBX4

        36251XBY2

U04052AT0

         

        ISIN NO.: US36251XBX49

        US36251XBY22

        USU04052AT09

         

        COMMON CODE NO.: 152562560

         

        CERTIFICATE NO.: [225-E-1] [225-E-S-1]

 

    	 A-26-4 

     

    

 

CLASS
225-E CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class 225-E Certificates issued by the Trust created pursuant to the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class 225-E Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of principal and interest then distributable, if any, allocable to
the Class of Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling
and Servicing Agreement. All sums distributable on this Certificate are payable in the coin or currency of the United States of
America as at the time of payment is legal tender for the payment of public and private debts.

 

    	 A-26-5 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class 225-E Pass-Through Rate specified above on the Certificate Balance of this Certificate immediately
prior to each Distribution Date. Principal and interest allocated to this Certificate on any Distribution Date will be in an amount
equal to this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class
as of such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling
and Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    	 A-26-6 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class 225-E Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $100,000, and in integral multiples of $1 in excess thereof, with one Certificate of each such Class evidencing
an additional amount equal to the remainder of the initial Certificate Balance of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(xvi)        to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(xvii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(xviii)      to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(xix)         to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    	 A-26-7 

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(xx)          to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(xxi)         to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(xxii)        to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(xxiii)       to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(xxiv)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

    	 A-26-8 

     

    

 

material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(xxv)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such
amendment shall:

 

(xxvi)       reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(xxvii)      reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(xxviii)     adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(xxix)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(xxx)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

    	 A-26-9 

     

    

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	 A-26-10 

     

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS 225-E CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    	 A-26-11 

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    	 A-26-12 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	 A-26-13 

     

    

 

EXHIBIT A-27

 

FORM OF CLASS X-225 CERTIFICATE

 

CLASS X-225

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS X-225

 

[THIS CERTIFICATE IS A TEMPORARY REGULATION S BOOK-ENTRY
CERTIFICATE FOR PURPOSES OF REGULATION S (“REGULATION S”) UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED (THE “SECURITIES ACT”). NEITHER THIS TEMPORARY REGULATION S BOOK-ENTRY CERTIFICATE NOR ANY INTEREST
HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

NO BENEFICIAL OWNERS OF THIS TEMPORARY REGULATION
S BOOK-ENTRY CERTIFICATE SHALL BE ENTITLED TO RECEIVE PAYMENTS OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED CERTIFICATIONS
HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE POOLING AND SERVICING AGREEMENT.]1

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]2

 

[TRANSFERS OF THIS BOOK-ENTRY CERTIFICATE SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE, AND
TRANSFERS OF BENEFICIAL INTERESTS IN THIS BOOK-ENTRY CERTIFICATE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.]3

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE

 

 

 

1        Temporary
Regulation S Book-Entry Certificate legend.

 

2        Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

3        Book-Entry
Certificate legend.

 

    	 A-27-1 

     

    

 

INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE (“SIMILAR LAW”), OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS
OF SUCH PLAN (WITHIN THE MEANING OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA)
TO ACQUIRE THIS CERTIFICATE, UNLESS (A)(I) SUCH PERSON IS AN “INSURANCE COMPANY GENERAL ACCOUNT” WITHIN THE MEANING
OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60, AND (II) ALL CONDITIONS OF SECTIONS I AND III OF PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 WILL BE MET WITH RESPECT TO SUCH INSURANCE COMPANY GENERAL ACCOUNT’S ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE, OR (B) WITH RESPECT TO THE ACQUISITION, HOLDING OR DISPOSITION OF THIS CERTIFICATE BY ANY PLAN SUBJECT TO
SIMILAR LAW, SUCH ACQUISITION, HOLDING AND DISPOSITION BY SUCH PLAN WILL NOT CONSTITUTE OR OTHERWISE RESULT IN A NON-EXEMPT VIOLATION
OF SIMILAR LAW.

 

[THIS CLASS X-225 CERTIFICATE HAS NO PRINCIPAL BALANCE
AND WILL NOT RECEIVE ANY DISTRIBUTION OF PRINCIPAL.]

 

[THE NOTIONAL AMOUNT OF THIS CERTIFICATE WILL BE REDUCED
IN CONNECTION WITH THE REDUCTION OF THE CERTIFICATE BALANCE OF THE CLASS 225-A, CLASS 225-B, CLASS 225-C, CLASS 225-D OR CLASS
225-E CERTIFICATES. ACCORDINGLY, THE NOTIONAL AMOUNT OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL AMOUNT
SET FORTH BELOW.]

 

[THE NOTIONAL AMOUNT ON WHICH THE INTEREST PAYABLE
TO THE HOLDERS OF THE CLASS X-225 CERTIFICATES IS BASED WILL BE REDUCED AS A RESULT OF PRINCIPAL PAYMENTS AND LOSSES ON THE 225
BUSH STREET TRUST SUBORDINATE COMPANION LOAN. ACCORDINGLY, THE INTEREST PAYABLE PURSUANT TO THIS CERTIFICATE MAY BE LESS THAN THAT
SET FORTH BELOW.]

 

    	 A-27-2 

     

    

 

THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1)
AND 860D OF THE CODE.

 

    	 A-27-3 

     

    

 

	
        PASS-THROUGH RATE: VARIABLE IN ACCORDANCE WITH THE POOLING AND SERVICING AGREEMENT4

         

        DENOMINATION: $[            ]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        APPROXIMATE AGGREGATE NOTIONAL AMOUNT OF THE CLASS X-225 CERTIFICATES AS OF
        THE CLOSING DATE: $113,000,000

         
	 	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND LOAN
        SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:  36251XBP1

        36251XBQ9

        U04052AP8

         

        ISIN NO.: US36251XBP15

        US36251XBQ97

        USU04052AP86

         

        COMMON CODE NO.: 152586205

         

        CERTIFICATE NO.: [X-225-1]

 

 

 

4 The initial
approximate Pass-Through Rate as of the Closing Date is 0.000000%.

 

    	 A-27-4 

     

    

 

CLASS X-225
CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS
MORTGAGE SECURITIES CORPORATION II

 

THIS CERTIFIES THAT CEDE & CO. is the registered
owner of the interest evidenced by this Certificate in the Class X-225 Certificates issued by the Trust created pursuant to
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among
GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Notional Amount
of the Class X-225 Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial
Mortgage Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and
Servicing Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Certificate represents a “regular
interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively, in Sections
860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees
to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for
purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, the Certificate Administrator shall distribute to the Person in whose name this Certificate is registered
as of the related Record Date, an amount equal to such Person’s pro rata share (based on the Percentage Interest represented
by this Certificate) of that portion of the aggregate amount of interest then distributable, if any, allocable to the Class of
Certificates of the same Class as this Certificate for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. Holders of this Certificate may be entitled to Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.
All sums distributable on this Certificate are payable in the coin or currency of the United States of America as at the time of
payment is legal tender for the payment of public and private debts.

 

    	 A-27-5 

     

    

 

Interest on this Certificate will accrue
(computed as if each year consisted of 360 days and each month consisted of 30 days) during the Interest Accrual Period relating
to such Distribution Date at the Class X-225 Pass-Through Rate specified above on the Notional Amount of this Certificate immediately
prior to each Distribution Date. Interest allocated to this Certificate on any Distribution Date will be in an amount equal to
this Certificate’s pro rata share of the Available Funds to be distributed on the Certificates of this Class as of
such Distribution Date, with a final distribution to be made upon retirement of this Certificate as set forth in the Pooling and
Servicing Agreement.

 

Realized Losses and certain other amounts
on the Mortgage Loans and the Trust Subordinate Companion Loans shall be allocated on the applicable Distribution Date to Certificateholders
in the manner set forth in the Pooling and Servicing Agreement. All Realized Losses on the Mortgage Loans and the Trust Subordinate
Companion Loans allocated to any Class of Certificates will be allocated pro rata among the outstanding Certificates of
such Class.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the 225 Bush Street Trust Subordinate Companion
Loan, all as more specifically set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates
specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate
Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit
in such accounts may be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection
Account will be paid to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and
Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions
to Certificateholders, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the
Mortgage Loans and the Trust Subordinate Companion Loans and administration of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate

 

    	 A-27-6 

     

    

 

for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Subject to the terms of the Pooling
and Servicing Agreement, the Class X-225 Certificates will be issued in book-entry form through the facilities of DTC in minimum
denominations of $1,000,000 initial Notional Amount, and in integral multiples of $1 in excess thereof, with one Certificate of
each such Class evidencing an additional amount equal to the remainder of the initial Notional Amount of such Class.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(xxxi)       to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(xxxii)      to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(xxxiii)     to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(xxxiv)     to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of

 

    	 A-27-7 

     

    

 

any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(xxxv)      to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(xxxvi)     to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(xxxvii)    to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(xxxviii)   to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(xxxix)      to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any

 

    	 A-27-8 

     

    

 

material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(xl)           to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(xli)          reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(xlii)         reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(xliii)        adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(xliv)       change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(xlv)        amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

    	 A-27-9 

     

    

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that there
is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R Certificates)),
the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i) the product of (x) the
prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class X Certificates, Class
S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360, to exchange all of
its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate Companion Loans and
each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    	 A-27-10 

     

    

 

IN WITNESS WHEREOF, the Certificate
Registrar has caused this Certificate to be duly executed under this official seal.

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
                    not in its individual capacity but solely as Certificate Registrar under the Pooling and Servicing Agreement

	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		(i)	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS IS ONE OF THE CLASS X-225 CERTIFICATES
REFERRED TO IN THE WITHIN-MENTIONED POOLING AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

  

    	 A-27-11 

     

    

  

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

 

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    	 A-27-12 

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    	 A-27-13 

     

    

 

EXHIBIT A-28

 

FORM OF CLASS R CERTIFICATE

 

CLASS R

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS R

 

[THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY STATE SECURITIES LAWS OR THE LAWS OF ANY OTHER
JURISDICTION. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR
NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT.]

 

[THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE
HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES
LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT OR (B) FOR
SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A IN A TRANSACTION MEETING THE REQUIREMENTS
OF RULE 144A.]

 

[THE INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH
SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY
WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN
INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT C TO THE POOLING AND SERVICING AGREEMENT.]

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT

 

    A-28-1

     

    

 

A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN (WITHIN THE MEANING
OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) TO ACQUIRE THIS CERTIFICATE.

 

[THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST”
IN FOUR “REAL ESTATE MORTGAGE INVESTMENT CONDUITS” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2)
AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED
TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY TO DISQUALIFIED ORGANIZATIONS, INSTITUTIONS
THAT ARE NOT U.S. TAX PERSONS OR AGENTS OF EITHER, AS SET FORTH IN SECTIONS 5.02 AND 5.03 OF THE PSA, AND SHALL BE REQUIRED TO
FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT
A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING A BROKER, NOMINEE
OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT HAS HISTORICALLY PAID ITS
DEBTS AS THEY HAVE COME DUE AND INTENDS TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, (C) IT UNDERSTANDS THAT IT MAY INCUR TAX
LIABILITIES WITH RESPECT TO THIS CERTIFICATE IN EXCESS OF CASH FLOWS GENERATED HEREBY, (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED
WITH HOLDING THIS CERTIFICATE AS THEY BECOME DUE, (E) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE TO BE ATTRIBUTABLE
TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF SUCH PERSON OR ANY
OTHER U.S. TAX PERSON AND (F) IT WILL NOT TRANSFER THIS CERTIFICATE TO ANY PERSON OR ENTITY THAT DOES NOT PROVIDE A SIMILAR AFFIDAVIT.
ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION
OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. THIS CERTIFICATE
REPRESENTS MULTIPLE “NONECONOMIC RESIDUAL INTERESTS”, AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E 1(c), AND THEREFORE,
TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR
UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO
THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO TRANSFER AT A MINIMUM PRICE OR TO AN ELIGIBLE TRANSFEREE AS SPECIFIED
IN TREASURY REGULATIONS.]

 

    A-28-2

     

    

 

	
        PERCENTAGE INTEREST EVIDENCED BY THIS CERTIFICATE: [100%]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        CLASS R PERCENTAGE INTEREST: [100%]

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND
        LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:   36251XAL1 

        36251XAM9 

        U04052AF0

         

        ISIN NO.:  US36251XAL10 

        US36251XAM92 

        USU04052AF05

         

        CERTIFICATE NO.: R-1

         

 

    A-28-3

     

    

 

CLASS
R CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS MORTGAGE
SECURITIES CORPORATION II

 

THIS CERTIFIES THAT [●]
is the registered owner of the interest evidenced by this Certificate in the Class R Certificates issued by the Trust created pursuant
to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class R Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Class R Certificate represents
a “residual interest” in four “real estate mortgage investment conduits”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income. The Holder of the largest Percentage Interest in the Class R Certificates shall be the “tax matters person”
pursuant to Treasury Regulations Section 1.860F-4(d) and “partnership representative” within the meaning of Section
6223 of the Code (to the extent such provision is applicable to the Trust REMICs) for each Trust REMIC, and the Certificate Administrator
is hereby irrevocably appointed and shall perform all the duties of the “tax matters person” and the “partnership
representative” of each Trust REMIC.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, distributions, if any, on this Certificate shall be made by the Certificate Administrator in an amount
equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate) and to the
extent and subject to the limitations set forth in the Pooling and Servicing Agreement, on the Distribution Date to the Person
in whose name this Certificate is

 

    A-28-4

     

    

 

registered as of the related Record Date. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

This Certificate is limited in right
of payment to, among other things, certain collections and recoveries respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

Each Person who has or acquires any
Ownership Interest in a Class R Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest in a Class
R Certificate to have agreed to be bound by the following provisions and the rights of each Person acquiring any Ownership Interest
in a Class R Certificate are expressly subject to the following provisions: (A) no Person holding or acquiring any Ownership Interest
in a Class R Certificate shall be a Disqualified Organization, a Disqualified Non-U.S. Tax Person or any agent of either

 

    A-28-5

     

    

 

(including
a broker, nominee or other middleman) (an “Agent”), or a Plan or a Person acting on behalf of or using the assets
of a Plan (such Plan or Person, an “ERISA Prohibited Holder”) and shall promptly notify the Certificate Registrar
of any change or impending change to such status; (B) in connection with any proposed Transfer of any Ownership Interest in
a Class R Certificate, the Certificate Registrar shall require delivery to it, and no Transfer of any Class R Certificate shall
be registered until the Certificate Registrar receives, an affidavit substantially in the form attached to the Pooling and Servicing
Agreement as Exhibit D-1 (a “Transferee Affidavit”) from the proposed Transferee, in form and substance satisfactory
to the Certificate Registrar, representing and warranting, among other things, that such Transferee is not a Disqualified Organization,
a Disqualified Non-U.S. Tax Person or any Agent of either, or an ERISA Prohibited Holder and that it agrees to be bound by and
to abide by the provisions of Section 5.03(n) of the Pooling and Servicing Agreement; (C) notwithstanding the delivery of a Transferee
Affidavit by a proposed Transferee under clause (B) above, if the Certificate Registrar has actual knowledge or reason to believe
that the proposed Transferee is a Disqualified Organization, a Disqualified Non-U.S. Tax Person or any Agent of either, or an ERISA
Prohibited Holder, no Transfer of an Ownership Interest in a Class R Certificate to such proposed Transferee shall be effected;
and (D) each Person holding or acquiring any Ownership Interest in a Class R Certificate shall agree (1) not to transfer its Ownership
Interest in such Class R Certificate to any Person that does not provide a Transferee Affidavit and (2) not to transfer its Ownership
Interest in such Class R Certificate unless it provides to the Certificate Registrar a letter substantially in the form attached
to the Pooling and Servicing Agreement as Exhibit D-2 (a “Transferor Letter”) certifying that, among other things,
it has no actual knowledge or reason to know that the proposed Transferee’s statements in such Transferee Affidavit are false.

 

The Class R Certificates will be issued
in fully registered, certificated form, in minimum percentage interests of 10% and integral multiples of 1% in excess thereof.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)        to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion

 

    A-28-6

     

    

 

of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class R Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)       to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

(vii)      to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)     to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

    A-28-7

     

    

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)       to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)       adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the

 

    A-28-8

     

    

 

Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class R Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-28-9

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity
    but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS R  CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING
AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-28-10

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-28-11

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-28-12

     

    

 

EXHIBIT A-29

 

FORM OF CLASS S CERTIFICATE

 

CLASS S

 

GS
MORTGAGE SECURITIES TRUST 2016-GS4

 

COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES

 

SERIES
2016-GS4, CLASS S

 

[THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY STATE SECURITIES LAWS OR THE LAWS OF ANY OTHER
JURISDICTION. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED,
PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR
NOT SUBJECT TO, REGISTRATION UNDER THE SECURITIES ACT.]

 

[THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE
HEREOF AGREES NOT TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES
LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT OR (B) FOR
SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A IN A TRANSACTION MEETING THE REQUIREMENTS
OF RULE 144A.]

 

[THE INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH
SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY
WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN
INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT C TO THE POOLING AND SERVICING AGREEMENT.]

 

THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN
OR OBLIGATION OF THE DEPOSITOR, THE BORROWERS, THE SPONSOR, THE MASTER SERVICER, THE GENERAL SPECIAL SERVICER, THE AMA PLAZA SPECIAL
SERVICER, THE 225 BUSH STREET SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS
REVIEWER, THE UNDERWRITERS, THE MORTGAGE LOAN SELLER OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING
MORTGAGE LOANS NOR THE TRUST SUBORDINATE COMPANION LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY
OR PRIVATE INSURER.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A)(1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (A “QIB”), OR IS PURCHASING
FOR THE ACCOUNT OF A QIB, AND WHOM THE HOLDER HAS INFORMED THAT THE REOFFER, RESALE, PLEDGE, OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTION THAT IS NOT

 

    A-29-1

     

    

 

A “U.S. PERSON”
IN AN “OFFSHORE TRANSACTION”, AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF, REGULATION
S UNDER THE SECURITIES ACT, OR (3) (EXCEPT WITH RESPECT TO THE CLASS R CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR ANY ENTITY IN WHICH ALL OF THE
EQUITY OWNERS COME WITHIN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE SECURITIES ACT, THAT IS NOT A QIB, AND (B)
IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.]

 

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR PLEDGED,
SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON THAT IS OR BECOMES AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN THAT IS SUBJECT TO THE FIDUCIARY
RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32)
OF ERISA) OR OTHER PLAN THAT IS SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING
PROVISIONS OF ERISA OR THE CODE, OR ANY PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF SUCH PLAN (WITHIN THE MEANING
OF DEPARTMENT OF LABOR REGULATIONS SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA) TO ACQUIRE THIS CERTIFICATE.

 

    A-29-2

     

    

 

	
        PERCENTAGE INTEREST EVIDENCED BY THIS CERTIFICATE: [100%]

         

        DATE OF POOLING AND SERVICING AGREEMENT: AS OF NOVEMBER 1, 2016

         

        CUT-OFF DATE: AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT (AS DEFINED
        HEREIN)

         

        CLOSING DATE: NOVEMBER 30, 2016

         

        FIRST DISTRIBUTION DATE:

        DECEMBER 12, 2016

         

        CLASS S PERCENTAGE INTEREST: [100%]

         
	
        MASTER SERVICER: WELLS FARGO BANK, NATIONAL
        ASSOCIATION

         

        GENERAL SPECIAL SERVICER: MIDLAND
        LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION

         

        AMA
        PLAZA SPECIAL SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION

         

        225 BUSH STREET SPECIAL SERVICER: AEGON USA
        REALTY ADVISORS, LLC

         

        TRUSTEE: WILMINGTON TRUST, NATIONAL ASSOCIATION

         

        CERTIFICATE ADMINISTRATOR: WELLS FARGO BANK,
        NATIONAL ASSOCIATION

         

        OPERATING
        Advisor:  PARK BRIDGE LENDER SERVICES LLC

         

        ASSET REPRESENTATIONS REVIEWER: PARK BRIDGE
        LENDER SERVICES LLC

         

        CUSIP NO.:   36251XAZ0

        36251XBA4

        U04052AG8

         

        ISIN NO.:  US36251XAZ06

        US36251XBA46

        USU04052AG87

         

        CERTIFICATE NO.: S-1

         

 

    A-29-3

     

    

 

CLASS
S CERTIFICATE

 

evidencing a beneficial ownership interest in a Trust
Fund, consisting primarily of a pool of commercial mortgage loans (the “Mortgage Loans”) and two subordinate
interests, each in a related trust subordinate companion loan (together, the “Trust Subordinate Companion Loans”),
all payments on or collections in respect of the Mortgage Loans and the Trust Subordinate Companion Loans due after the Cut-off
Date, all REO Properties and revenues received in respect thereof, the mortgagee’s rights under the insurance policies, any
Assignment of Leases, and any guaranties or other collateral as security for the Mortgage Loans and the Trust Subordinate Companion
Loans and such amounts as shall from time to time be held in the Collection Account, the Distribution Accounts, the Interest Reserve
Account, the Gain-on-Sale Reserve Account and the REO Accounts, formed and sold by

 

GS MORTGAGE
SECURITIES CORPORATION II

 

THIS CERTIFIES THAT [●]
is the registered owner of the interest evidenced by this Certificate in the Class S Certificates issued by the Trust created pursuant
to the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
among GS MORTGAGE SECURITIES CORPORATION II (hereinafter called the “Depositor”, which term includes any successor
entity under the Pooling and Servicing Agreement), the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Certificate Administrator, the Operating Advisor and the Asset Representations
Reviewer. A summary of certain of the pertinent provisions of the Pooling and Servicing Agreement is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing
Agreement.

 

This Certificate is one of a duly authorized
issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the “Certificates”)
and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage
obtained by dividing the Denomination of this Certificate specified on the face hereof, by the aggregate initial Certificate Balance
of the Class S Certificates. The Certificates are designated as the GS MORTGAGE SECURITIES TRUST 2016-GS4, Commercial Mortgage
Pass-Through Certificates, Series 2016-GS4 and are issued in the classes as specifically set forth in the Pooling and Servicing
Agreement. The Certificates will evidence in the aggregate 100% of the beneficial ownership of the Trust.

 

This Certificate does not purport to
summarize the Pooling and Servicing Agreement and reference is made to that agreement for information with respect to the interests,
rights, benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the Trustee and
the Certificate Administrator. This Certificate is issued under and is subject to the terms, provisions and conditions of the Pooling
and Servicing Agreement, to which Pooling and Servicing Agreement, as amended from time to time, the Certificateholder by virtue
of the acceptance hereof assents and by which the Certificateholder is bound. In the case of any conflict between terms specified
in this Certificate and terms specified in the Pooling and Servicing Agreement, the terms of the Pooling and Servicing Agreement
shall govern.

 

This Class S Certificate represents
a beneficial ownership of Excess Interest and the Excess Interest Distribution Account. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

Pursuant to the terms of the Pooling
and Servicing Agreement, distributions, if any, on this Certificate shall be made by the Certificate Administrator in an amount
equal to such Person’s pro rata share (based on the Percentage Interest represented by this Certificate) and to the
extent and subject to the limitations set forth in the Pooling and Servicing Agreement, on the Distribution Date to the Person
in whose name this Certificate is registered as of the related Record Date. All sums distributable on this Certificate are payable
in the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts.

 

This Certificate is limited in right
of payment to, among other things, Excess Interest actually collected respecting the Mortgage Loans, all as more specifically set
forth in the Pooling and Servicing Agreement.

 

    A-29-4

     

    

 

As provided in the Pooling and Servicing Agreement, the Collection Account and the
Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates specified in the Pooling
and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with
respect to the Distribution Accounts) will be authorized to make withdrawals therefrom. Amounts on deposit in such accounts may
be invested in Permitted Investments. Interest or other investment income earned on funds in the Collection Account will be paid
to the Master Servicer as set forth in the Pooling and Servicing Agreement. As provided in the Pooling and Servicing Agreement,
withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders,
such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and administration
of the Trust.

 

All distributions under the Pooling
and Servicing Agreement to a Class of Certificates shall be made on each Distribution Date (other than the final distribution on
any Certificate) to Certificateholders of record on the related Record Date by check mailed to the address set forth therefor in
the Certificate Register or, provided that such Certificateholder has provided the Certificate Administrator with wire instructions
at least five (5) Business Days prior to the related Record Date, by wire transfer of immediately available funds to the account
of such Certificateholder at a bank or other entity having appropriate facilities therefor. The final distribution on this Certificate
(determined without regard to any possible future reimbursement of Realized Losses previously allocated to this Certificate) shall
be made in like manner, but only upon presentment and surrender of this Certificate at the offices of the Certificate Registrar
or such other location specified in the notice to Certificateholders of such final distribution.

 

Any funds not distributed to any Holder
or Holders of Certificates of such Class on such Distribution Date because of the failure of such Certificateholders to tender
their Certificates shall, on such date, be set aside and held uninvested in trust and credited to the account or accounts of the
appropriate non-tendering Holder or Holders. If any Certificates as to which notice has been given pursuant to Section 4.01(h)
of the Pooling and Servicing Agreement shall not have been surrendered for cancellation within six months after the time specified
in such notice, the Certificate Administrator shall mail a second notice to the remaining non-tendering Certificateholders to surrender
their Certificates for cancellation in order to receive the final distribution with respect thereto. If within one year after the
second notice all such Certificates shall not have been surrendered for cancellation, the Certificate Administrator, directly or
through an agent, shall take such steps to contact the remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate and subject to escheatment and other applicable laws. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the first anniversary of the delivery of such second notice
to the non-tendering Certificateholders shall be paid out of such funds. No interest shall accrue or be payable to any Certificateholder
on any amount held in trust under the Pooling and Servicing Agreement by the Certificate Administrator as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with Section 4.01(h) of the Pooling and Servicing
Agreement.

 

As provided in the Pooling and Servicing
Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registerable in the Certificate
Register only upon surrender of this Certificate for registration of transfer at the office of the Certificate Registrar or at
the office of its transfer agent, duly endorsed by, or accompanied by an assignment in the form below or other written instrument
of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney-in-fact
duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized Denominations will be issued
to the designated transferee or transferees.

 

The Class S Certificates will be issued
in fully registered, certificated form, in minimum percentage interests of 10% and integral multiples of 1% in excess thereof.

 

No fee or service charge shall be imposed
by the Certificate Registrar for its services in respect of any registration of transfer or exchange of any Certificate (other
than Definitive Certificates) referred to in Section 5.03 of the Pooling and Servicing Agreement. In connection with any transfer
to an Institutional Accredited Investor, the Transferor shall reimburse the Trust for any costs (including the cost of the Certificate
Registrar’s counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to
the Certificate Registrar as provided in Section 5.03 of the Pooling and Servicing Agreement) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum

 

    A-29-5

     

    

 

sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer or exchange.

 

The Trustee, the Certificate Administrator,
the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer and the
Certificate Registrar, and any agent of any of them, may treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Certificate Registrar, nor any agent of any of them,
shall be affected by any notice to the contrary.

 

The Pooling and Servicing Agreement
may be amended from time to time by the parties thereto, without the consent of any of the Certificateholders or the Companion
Holders:

 

(i)        to
correct any defect or ambiguity in the Pooling and Servicing Agreement in order to address any manifest error in any provision
of the Pooling and Servicing Agreement;

 

(ii)       to
cause the provisions in the Pooling and Servicing Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus (or in an offering document for any related non-offered certificates) with respect to the Certificates,
the Trust or the Pooling and Servicing Agreement or to correct or supplement any of its provisions which may be inconsistent with
any other provisions therein or to correct any error;

 

(iii)       to
change the timing and/or nature of deposits in the Collection Account, the Distribution Accounts or any REO Account; provided
that (a) the Master Servicer Remittance Date shall in no event be later than the Business Day prior to the related Distribution
Date and (b) such change shall not adversely affect in any material respect the interests of any Certificateholder, as evidenced
in writing by an Opinion of Counsel at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each Rating Agency with respect to such amendment;

 

(iv)      to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as shall be necessary to maintain
the qualification of any Trust REMIC as a REMIC or the Grantor Trust as a grantor trust under the relevant provisions of the Code
at all times that any Certificate is outstanding, or to avoid or minimize the risk of imposition of any tax on the Trust or any
Trust REMIC or the Grantor Trust; provided that the Trustee and the Certificate Administrator have received an Opinion of
Counsel (at the expense of the party requesting such amendment) to the effect that (a) such action is necessary or desirable
to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (b) such action will
not adversely affect in any material respect the interests of any Certificateholder or Companion Holder;

 

(v)       to
modify, eliminate or add to the provisions of Section 5.03(n) of the Pooling and Servicing Agreement or any other provision of
the Pooling and Servicing Agreement restricting transfer of the Class S Certificates; provided the Depositor has determined
that such change shall not, as evidenced by an Opinion of Counsel, cause the Trust, any Trust REMIC or any of the Certificateholders
(other than the Transferor) to be subject to a federal tax caused by a Transfer to a Person that is a Disqualified Organization
or a Disqualified Non-U.S. Tax Person;

 

(vi)      to
revise or add any other provisions with respect to matters or questions arising under the Pooling and Servicing Agreement or any
other change; provided that the required action shall not adversely affect in any material respect the interests of any
Certificateholder or any holder of a Serviced Pari Passu Companion Loan not consenting to such revision or addition as evidenced
in writing by an Opinion of Counsel, at the expense of the party requesting such amendment or as evidenced by a Rating Agency Confirmation
from each of the Rating Agencies with respect to such amendment or supplement and confirmation of the applicable rating agencies
that such action will not result in the downgrade, withdrawal or qualification of its then-current ratings of any securities related
to a Companion Loan, if any (provided that such rating agency confirmation may be considered satisfied in the same manner
as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant to Section 3.25 of the
Pooling and Servicing Agreement);

 

    A-29-6

     

    

 

(vii)     to
amend or supplement any provision of the Pooling and Servicing Agreement to the extent necessary to maintain the then-current ratings
assigned to each Class of Certificates by each Rating Agency, as evidenced by a Rating Agency Confirmation from each of the Rating
Agencies and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal or qualification
of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating agency confirmation
may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the
Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement); provided that such amendment or supplement
shall not adversely affect in any material respect the interests of any Certificateholder not consenting to such amendment or supplement,
as evidenced by an Opinion of Counsel;

 

(viii)    to
modify the provisions of Sections 3.05 and 3.17 of the Pooling and Servicing Agreement (with respect to reimbursement of Nonrecoverable
Advances and Workout-Delayed Reimbursement Amounts) if (a) the Depositor, the Master Servicer, the Trustee and, for so long as
a Control Termination Event has not occurred and is not continuing and with respect to any Mortgage Loans other than any Excluded
Loan, the Directing Holder determine that the commercial mortgage backed securities industry standard for such provisions has changed,
in order to conform to such industry standard, (b) such modification does not adversely affect the status of any Trust REMIC as
a REMIC or the status of the Grantor Trust as a grantor trust under the relevant provisions of the Code, as evidenced by an Opinion
of Counsel and (c) each Rating Agency has delivered a Rating Agency Confirmation and, with regard to any class of Serviced Companion
Loan Securities, the applicable rating agencies have delivered a confirmation that such action will not result in the downgrade,
withdrawal or qualification of its then current ratings (provided that such rating agency confirmation may be considered
satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied with respect to the Certificates pursuant
to Section 3.25 of the Pooling and Servicing Agreement);

 

(ix)       to
modify the procedures of the Pooling and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such amendment shall not adversely affect in any material respects the interests of any Certificateholders, as evidenced by
(x) an Opinion of Counsel or (y) if any Certificate is then rated, receipt of Rating Agency Confirmation from each Rating
Agency rating such Certificates; and provided, further, that the Certificate Administrator shall give notice of any
such amendment to the 17g-5 Information Provider for posting to the 17g-5 Information Provider’s Website pursuant to Section
3.13(c) of the Pooling and Servicing Agreement and the Certificate Administrator shall post such notice to the Certificate Administrator’s
Website; or

 

(x)        to
modify, eliminate or add to any provisions of the Pooling and Servicing Agreement to such extent as would be necessary to comply
with the requirements for use of Form SF-3 in registered offerings to the extent provided in CFR 239.45(b)(1)(ii), (iii) or (iv).

 

Notwithstanding the foregoing, no such
amendment (A) may change in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the
Mortgage Loan Seller under the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as
a third party beneficiary under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller or (B) may
materially and adversely affect the holders of a Companion Loan without such Companion Holder’s consent.

 

The Pooling and Servicing Agreement
may also be amended from time to time by the parties thereto with the consent of the Holders of Certificates of each Class affected
by such amendment evidencing in the aggregate not less than a majority of the aggregate Percentage Interests constituting the Class
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however,
that no such amendment shall:

 

(i)        reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or the Trust Subordinate Companion
Loans that are required to be distributed on a Certificate of any class without the consent of the Holder of the Certificate or
which are required to be distributed to a Companion Holder without the consent of such Companion Holder; or

 

    A-29-7

     

    

 

(ii)       reduce
the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment or remove
the requirement to obtain consent of any Companion Holder or Holder of the Loan-Specific Certificates, in any such case without
the consent of the Holders of all Certificates of such Class then outstanding or such Companion Holders, as applicable; or

 

(iii)      adversely
affect the Voting Rights of any Class of Certificates without the consent of the Holders of all Certificates of such Class then
outstanding; or

 

(iv)      change
in any manner any defined term used in the Mortgage Loan Purchase Agreement or the obligations of the Mortgage Loan Seller under
the Mortgage Loan Purchase Agreement or otherwise or change any rights of the Mortgage Loan Seller as a third party beneficiary
under the Pooling and Servicing Agreement, without the consent of the Mortgage Loan Seller; or

 

(v)       amend
the Servicing Standard without the consent of 100% of the Certificateholders or receipt of Rating Agency Confirmation from each
Rating Agency and confirmation of the applicable rating agencies that such action will not result in the downgrade, withdrawal
or qualification of its then-current ratings of any securities related to a Companion Loan, if any (provided that such rating
agency confirmation may be considered satisfied in the same manner as any Rating Agency Confirmation may be considered satisfied
with respect to the Certificates pursuant to Section 3.25 of the Pooling and Servicing Agreement) and, if required under the related
Co-Lender Agreement, the consent of the holder of any AB Subordinate Companion Loan for each Serviced AB Whole Loan.

 

Notwithstanding the foregoing, none
of the Operating Advisor, the Asset Representations Reviewer, the Trustee, the Certificate Administrator, the Depositor, the Master
Servicer, the General Special Servicer, the AMA Plaza Special Servicer nor the 225 Bush Street Special Servicer will be required
to consent to any amendment to the Pooling and Servicing Agreement without having first received an Opinion of Counsel (at the
Trust’s expense) to the effect that such amendment is permitted under the Pooling and Servicing Agreement, that all conditions
precedent have been satisfied and that such amendment or the exercise of any power granted to the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Depositor, the Trustee, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer or any other specified person in accordance with such
amendment will not result in an Adverse REMIC Event or cause the Grantor Trust to fail to qualify as a grantor trust under the
relevant provisions of the Code.

 

The Holders of the majority of the
Controlling Class, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer, as applicable,
the Master Servicer or the Holders of the Class S Certificates may, in that order of priority, at their option, upon no less than
60 days’ prior written notice given to the Trustee, the Certificate Administrator and each of the other parties to the Pooling
and Servicing Agreement, elect to purchase all of the Mortgage Loans (and all property acquired through exercise of remedies in
respect of any related Mortgage Loan), the Trust Subordinate Companion Loans and the Trust’s portion of each REO Property
remaining in the Trust Fund, and thereby effect termination of the Trust and early retirement of the then-outstanding Certificates,
on or after the first Distribution Date on which the aggregate Stated Principal Balances of the Mortgage Loans and the portion
of any REO Loans held by the Trust is less than 1.0% of the aggregate Cut-off Date Principal Balance of the Mortgage Loans as set
forth in the Pooling and Servicing Agreement.

 

Following the date on which the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-S, Class B, Class PEZ, Class C and Class D Certificates are retired and
the Notional Amounts of the Class X-A, Class X-B and Class X-D Certificates have been reduced to zero (and provided that
there is only one Holder (or multiple Holders acting in unanimity) of the then-outstanding Certificates (other than the Class R
Certificates)), the Sole Certificateholder shall have the right, provided, the Master Servicer is paid a fee equal to (i)
the product of (x) the prime rate, (y) the aggregate Certificate Balance of the then-outstanding certificates (other than the Class
X Certificates, Class S Certificates and Class R Certificates) as of the date of the exchange and (z) three, divided by (ii) 360,
to exchange all of its Certificates (other than the Class R Certificates) for all of the Mortgage Loans, the Trust Subordinate
Companion Loans and each REO Property remaining in the Trust Fund pursuant to the terms of the Pooling and Servicing Agreement.

 

    A-29-8

     

    

 

The obligations created by the Pooling
and Servicing Agreement and the Trust created thereby (other than the obligation of the Certificate Administrator to make payments
to Certificateholders as provided for in the Pooling and Servicing Agreement), shall terminate upon reduction of the Certificate
Balances of all the Certificates to zero (including, without limitation, any such final payment resulting from a termination of
the Trust due to a sale of its property) pursuant to the terms of the Pooling and Servicing Agreement. In no event, however, will
the Trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James, living on
the date hereof.

 

Unless the certificate of authentication
hereon has been executed by the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit
under the Pooling and Servicing Agreement or be valid for any purpose. The Certificate Registrar has executed this Certificate
on behalf of the Trust as Certificate Registrar under the Pooling and Servicing Agreement and makes no representation or warranty
as to any of the statements contained herein or the validity or sufficiency of the Certificates, the Mortgage Loans or the Trust
Subordinate Companion Loans.

 

THIS CERTIFICATE AND THE POOLING
AND SERVICING AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

 

    A-29-9

     

    

 

IN
WITNESS WHEREOF, the Certificate Registrar has caused this Certificate to be duly executed under this official seal. 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
 not in its individual capacity
    but solely as Certificate Registrar under the Pooling and Servicing Agreement
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

		Dated:	November 30, 2016

 

CERTIFICATE
OF AUTHENTICATION

 

THIS
IS ONE OF THE CLASS S  CERTIFICATES REFERRED TO IN THE WITHIN-MENTIONED POOLING
AND SERVICING AGREEMENT.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	AUTHORIZED SIGNATORY

 

    A-29-10

     

    

 

ABBREVIATIONS

 

The
following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:  

	 	 	 	 
	TEN COM   	-   	as tenant in common	UNIF
                                         GIFT MIN ACT __________ Custodian
	TEN
        ENT	-	as tenants by the entireties	     (Cust)
	JT TEN	-	as joint tenants with rights of 	Under
        Uniform Gifts to Minors
	 	 	survivorship and not as tenants in	 
	 	 	 common	Act
        __________________________
	 	 		
(State)

 

Additional
abbreviations may also be used though not in the above list. 

 

FORM
OF TRANSFER

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ____________________________

 

 

(Please
insert Social Security or other identifying number of Assignee)

 

 

(Please
print or typewrite name and address of assignee)

 

 

 

the
within Certificate and does hereby or irrevocably constitute and appoint to transfer the said Certificate in the Certificate register
of the within-named Trust, with full power of substitution in the premises.

  

	Dated:  _______________	NOTICE:  The
    signature to this assignment must correspond with the name as written upon the face of this Certificate in every particular
    without alteration or enlargement or any change whatever.

	 	 
	SIGNATURE GUARANTEED	 

 

The
signature must be guaranteed by a commercial bank or trust company or by a member firm of the New York Stock Exchange or another
national securities exchange. Notarized or witnessed signatures are not acceptable.  

 

    A-29-11

     

    

 

DISTRIBUTION
INSTRUCTIONS

 

The
assignee should include the following for purposes of distribution:

 

Distributions
shall be made, by wire transfer or otherwise, in immediately available funds to _______________________________ for the account
of __________________________ account number _______________ or, if mailed by check, to __________________________.
Statements should be mailed to _________________________. This information is provided by
assignee named above, or ______________________________, as its agent.

 

    A-29-12

     

    

 

  

EXHIBIT
B

 

MORTGAGE
LOAN SCHEDULE

 

    B-1 

     

    

 

 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	Control
    Number	Footnotes	Loan
    Number	Property
    Name	Borrower
    Name	Address	City	State	County	Zip
    Code	Mortgage
    Loan Rate (%)	Net
    Mortgage Loan Rate (%)	Original
    Balance ($)	Cut-Off
    Date Balance ($)
	1	3,
    4	6Y2XK6	AMA
    Plaza	BCSP
    330 North Wabash Property LLC	330
    North Wabash Avenue	Chicago	Illinois	Cook	60611	2.6134%	2.6000%	$100,000,000	100,000,000
	2	5,
    6	6Y38V8	225
    Bush Street	225
    Bush Street Owners LLC	225
    Bush Street	San
    Francisco	California	San
    Francisco	94104	3.6792%	3.6658%	$100,000,000	100,000,000
	3	7,
    8, 9, 10	9049V6	540
    West Madison	540
    West Madison Owner LLC	540
    West Madison Street	Chicago	Illinois	Cook	60661	3.2266%	3.2133%	$75,292,000	75,292,000
	4	10,
    11, 12, 13	4F3745	U.S.
    Industrial Portfolio	UB
    (Hannibal), LLC, UB (TA-Sacramento), LLC, UB (TA-Arvada), LLC, UB (Builders First Source), LLC, UB (TA-Pensacola), LLC, UB
    (TA-Tallahassee), LLC, UB (TA-Savannah), LLC, UB (Jade-Illinois), LLC, UB (Set-North Vernon), LLC, UB (MVP-Mayfield), LLC,
    UB (Paragon Tech), LLC, UB (Progressive Metal), LLC, UB (SET-New Boston), LLC, UB (Hover-Davis), LLC, UB (Banner Services),
    LLC, UB (Jade-Ohio), LLC, UB (Easley Custom Plastics), LLC, UB (MVP-Charleston), LLC, UB (TA-Corpus Christi), LLC, UB (Texas
    Die Casting), LLC, UB II (New WinCup-AZ), LLC, UB II (Santa Fe), LLC, UB II (Sitel), LLC, UB II (Plaid-Decatur), LLC, UB II
    (Plaid-Norcross), LLC, UB II (New WinCup-GA), LLC, UB II (Northwest Mailing), LLC, UB II (Ainslie), LLC, UB II (UP-166th St),
    LLC, UB II (UP-Armory), LLC, UB II (WFC), LLC, UB II (Lyons), LLC, UB II (MP Pumps), LLC, UB II (PTI), LLC, UB II (Microfinish),
    LLC, UB II (Oracle), LLC, UB II (Aramsco), LLC, UB II (Angstrom), LLC and UB II (Fitz), LLC	 	 	 	 	 	3.9740%	3.9607%	$75,000,000	74,939,052
	4.01	 	4F3745	Hannibal	 	3851
    and 3855 Santa Fe Avenue and 2226, 2230, 2240, 2250 and 2332 East 38th Street	Vernon	California	Los
    Angeles	90058	 	 	 	 
	4.02	 	4F3745	Kraco	 	2411
    and 2415 North Santa Fe Avenue, 419, 439, 505, 507, 514, 520, 531 and 537 East Euclid Avenue and 430 East Carlin Avenue	Compton	California	Los
    Angeles	90222	 	 	 	 
	4.03	 	4F3745	New
    WinCup - Phoenix	 	7980
    West Buckeye Road	Tolleson	Arizona	Maricopa	85353	 	 	 	 
	4.04	 	4F3745	Worlds
    Finest Chocolates	 	4825
    South Lawndale Avenue	Chicago	Illinois	Cook	60632	 	 	 	 
	4.05	 	4F3745	SET
    - MI	 	36211
    South Huron Road	Huron
    Township	Michigan	Wayne	48164	 	 	 	 
	4.06	 	4F3745	Plaid
    - Decatur	 	2331
    Mellon Court	Decatur	Georgia	Dekalb	30035	 	 	 	 
	4.07	 	4F3745	Oracle
    Packaging	 	220
    Polo Road	Winston-Salem	North
    Carolina	Forsyth	27105	 	 	 	 
	4.08	 	4F3745	TestAmerica
    - West SAC	 	880
    Riverside Parkway	West
    Sacramento	California	Yolo	95605	 	 	 	 
	4.09	 	4F3745	TestAmerica
    - Arvada	 	4955
    Yarrow Street	Arvada	Colorado	Jefferson	80002	 	 	 	 
	4.10	 	4F3745	Northwest
    Mailing Service	 	5401-5501
    West Grand Avenue	Chicago	Illinois	Cook	60639	 	 	 	 
	4.11	 	4F3745	Lyons	 	11301-11401
    Electron Drive	Louisville	Kentucky	Jefferson	40299	 	 	 	 
	4.12	 	4F3745	Wilbert
    Plastics	 	2930
    Greenville Highway	Easley	South
    Carolina	Pickens	29640	 	 	 	 
	4.13	 	4F3745	Angstrom
    Graphics	 	4437
    East 49th Street	Cuyahoga
    Heights	Ohio	Cuyahoga	44125	 	 	 	 
	4.14	 	4F3745	New
    WinCup - Stone Mountain	 	4600-4680
    Lewis Road	Stone
    Mountain	Georgia	Dekalb	30083	 	 	 	 
	4.15	 	4F3745	Universal
    Pool - Armory	 	300
    West Armory Drive	South
    Holland	Illinois	Cook	60473	 	 	 	 
	4.16	 	4F3745	Jade-Sterling
    - IL	 	5100
    West 73rd Street and 7201 South Leamington Avenue	Bedford
    Park	Illinois	Cook	60638	 	 	 	 
	4.17	 	4F3745	Plaid
    - Norcross	 	3225
    Westech Drive	Norcross	Georgia	Gwinnett	30092	 	 	 	 
	4.18	 	4F3745	Phillips
    and Temro	 	9700
    West 74th Street	Eden
    Prairie	Minnesota	Hennepin	55344	 	 	 	 
	4.19	 	4F3745	TestAmerica
    - Savannah	 	5102
    LaRoche Avenue	Savannah	Georgia	Chatham	31404	 	 	 	 
	4.20	 	4F3745	Hover-Davis	 	100
    Paragon Drive	Rochester	New
    York	Monroe	14624	 	 	 	 
	4.21	 	4F3745	Jade-Sterling
    - OH	 	200
    Francis D Kenneth Drive and 2300 East Aurora Road	Twinsburg
    and Aurora	Ohio	Summit
    and Portage	44087
    and 44202	 	 	 	 
	4.22	 	4F3745	Fitz
    Aerospace	 	6625
    Iron Horse Boulevard	North
    Richland Hills	Texas	Tarrant	76180	 	 	 	 
	4.23	 	4F3745	MVP
    Charleston	 	1031
    LeGrand Boulevard	Charleston	South
    Carolina	Berkeley	29492	 	 	 	 
	4.24	 	4F3745	Paragon
    Tech	 	5775
    East Ten Mile Road	Warren	Michigan	Macomb	48091	 	 	 	 
	4.25	 	4F3745	Aramsco
    and Bulls Eye	 	1480
    Grandview Avenue	West
    Deptford Township	New
    Jersey	Gloucester	8066	 	 	 	 
	4.26	 	4F3745	Shale-Inland	 	9500,
    9521, 9545-9555 Ainslie Street and 9550 Kelvin Lane	Schiller
    Park	Illinois	Cook	60176	 	 	 	 
	4.27	 	4F3745	M.P.
    Pumps	 	34800
    Bennett Drive	Fraser	Michigan	Macomb	48026	 	 	 	 
	4.28	 	4F3745	TestAmerica
    - Pensacola	 	3355
    McLemore Drive	Pensacola	Florida	Escambia	32514	 	 	 	 
	4.29	 	4F3745	Microfinish	 	4001
    Gratiot Avenue and 3981 Sarpy Avenue	St.
    Louis	Missouri	Saint
    Louis City	63110	 	 	 	 
	4.30	 	4F3745	MVP
    Mayfield	 	112
    Industrial Road	Mayfield	Kentucky	Graves	42066	 	 	 	 
	4.31	 	4F3745	Builders
    FirstSource	 	1602
    Industrial Park Drive	Plant
    City	Florida	Hillsborough	33566	 	 	 	 
	4.32	 	4F3745	Banner	 	17382
    Foltz Parkway	Strongsville	Ohio	Cuyahoga	44149	 	 	 	 
	4.33	 	4F3745	SET
    - IN	 	1
    Steel Way	North
    Vernon	Indiana	Jennings	47265	 	 	 	 
	4.34	 	4F3745	Progressive
    Metal	 	1200,
    1300 & 1460 Channing Avenue	Ferndale	Michigan	Oakland	48220	 	 	 	 
	4.35	 	4F3745	Universal
    Pool - 166th	 	2
    West 166th Street	South
    Holland	Illinois	Cook	60473	 	 	 	 
	4.36	 	4F3745	SITEL	 	1417
    North Magnolia Avenue	Ocala	Florida	Marion	34475	 	 	 	 
	4.37	 	4F3745	TestAmerica
    - Tallahassee	 	2846
    Industrial Plaza Drive	Tallahassee	Florida	Leon	32301	 	 	 	 
	4.38	 	4F3745	Texas
    Die Casting	 	600
    South Loop 485	Gladewater	Texas	Gregg	75647	 	 	 	 
	4.39	 	4F3745	TestAmerica
    - Corpus Christi	 	1733
    North Padre Island Drive	Corpus
    Christi	Texas	Nueces	78408	 	 	 	 
	5	 	9067L5	Quad
    at Whittier	The
    Quad at Whittier, LLC	13502
    Whittier Boulevard	Whittier	California	Los
    Angeles	90605	4.2580%	4.2347%	$70,100,000	70,100,000
	6	10,
    14	9049W4	Simon
    Premium Outlets	Prime
    Outlets at Pismo Beach LLC and Queenstown Outlets Limited Partnership	 	 	 	 	 	3.3335%	3.3202%	$67,000,000	66,788,798
	6.01	 	9049W4	Queenstown
    Premium Outlets	 	441
    Outlet Center Drive	Queenstown	Maryland	Queen
    Anne’s	21658	 	 	 	 
	6.02	 	9049W4	Pismo
    Beach Premium Outlets	 	333
    Five Cities Drive	 Pismo
    Beach	California	San
    Luis Obispo	93449	 	 	 	 
	7	 	6Y3720	Westchester
    Office Portfolio 700 Series	701
    Westchester Avenue Owner SPE LLC, 707/709 Westchester Avenue Owner SPE LLC, 711 Westchester Avenue Owner SPE LLC and 777 Westchester
    Avenue Owner SPE LLC	 	 	 	 	 	4.4570%	4.4437%	$56,900,000	56,900,000
	7.01	 	6Y3720	709
    Westchester Avenue	 	709
    Westchester Avenue	White
    Plains	New
    York	Westchester
    	10604	 	 	 	 
	7.02	 	6Y3720	777
    Westchester Avenue	 	777
    Westchester Avenue	White
    Plains	New
    York	Westchester
    	10604	 	 	 	 
	7.03	 	6Y3720	701
    Westchester Avenue	 	701
    Westchester Avenue	White
    Plains	New
    York	Westchester
    	10604	 	 	 	 
	7.04	 	6Y3720	711
    Westchester Avenue	 	711
    Westchester Avenue	White
    Plains	New
    York	Westchester
    	10604	 	 	 	 
	7.05	 	6Y3720	707
    Westchester Avenue	 	707
    Westchester Avenue	White
    Plains	New
    York	Westchester
    	10604	 	 	 	 
	8	 	651QH5	Iron
    Mountain National Industrial	Iron
    Mountain Mortgage Finance I, LLC	 	 	 	 	 	3.4500%	3.4367%	$50,000,000	50,000,000
	8.01	 	651QH5	1800
    Columbian Club Drive	 	1800
    Columbian Club Drive	Carrollton	Texas	Dallas	75006	 	 	 	 
	8.02	 	651QH5	11333
    East 53rd Avenue	 	11333
    East 53rd Avenue	Denver	Colorado	Denver	80239	 	 	 	 
	8.03	 	651QH5	600
    Burning Tree Road	 	600
    Burning Tree Road	Fullerton	California	Orange	92833	 	 	 	 
	8.04	 	651QH5	1202
    Avenue R	 	1202
    Avenue R	Grand
    Prairie	Texas	Tarrant	75050	 	 	 	 
	8.05	 	651QH5	2955
    South 18th Place	 	2955
    South 18th Place	Phoenix	Arizona	Maricopa	85034	 	 	 	 
	8.06	 	651QH5	1760
    North Saint Thomas Circle	 	1760
    North Saint Thomas Circle	Orange	California	Orange	92865	 	 	 	 
	8.07	 	651QH5	1915
    South Grand Avenue	 	1915
    South Grand Avenue	Santa
    Ana	California	Orange	92705	 	 	 	 
	8.08	 	651QH5	4449
    South 36th Street	 	4449
    South 36th Street	Phoenix	Arizona	Maricopa	85040	 	 	 	 
	8.09	 	651QH5	13425
    Branch View Lane	 	13425
    Branch View Lane	Farmers
    Branch	Texas	Dallas	75234	 	 	 	 
	8.1	 	651QH5	2000
    Robotics Place	 	2000
    Robotics Place	Fort
    Worth	Texas	Tarrant	76118	 	 	 	 
	8.11	 	651QH5	1819
    South Lamar Street	 	1819
    South Lamar Street	Dallas	Texas	Dallas	75215	 	 	 	 
	8.12	 	651QH5	5151
    East 46th Avenue	 	5151
    East 46th Avenue	Denver	Colorado	Denver	80216	 	 	 	 
	8.13	 	651QH5	1510
    Capital Parkway	 	1510
    Capital Parkway	Carrollton	Texas	Dallas	75006	 	 	 	 
	8.14	 	651QH5	1905
    John Connally Drive	 	1905
    John Connally Drive	Carrollton	Texas	Dallas	75006	 	 	 	 
	8.15	 	651QH5	1520
    Capital Parkway	 	1520
    Capital Parkway	Carrollton	Texas	Dallas	75006	 	 	 	 
	8.16	 	651QH5	3576
    North Moline Street	 	3576
    North Moline Street	Aurora	Colorado	Adams	80010	 	 	 	 
	9	15	4W04K9	Hamilton
    Place	Hamilton
    Place CMBS, LLC	2100
    Hamilton Place Boulevard	Chattanooga	Tennessee	Hamilton	37421	4.3610%	4.3477%	$42,000,000	41,714,341
	10	 	90OMK1	Village
    Square	4000
    Oxford Drive Associates, LP	2600,
    2800, 4000, 5000 and 6000 Oxford Drive	Bethel
    Park	Pennsylvania	Allegheny	15102	4.2130%	4.1797%	$39,500,000	39,500,000
	11	16	6YH5H1	Hilton
    Garden Inn Old Town	M5
    Dev, LLC	4200
    Taylor Street	San
    Diego	California	San
    Diego	92110	4.4680%	4.4347%	$35,000,000	35,000,000
	12	17	9O3YF5	Poipu
    Shopping Village	BG
    Kauai Holdings, LLC	2360
    Kiahuna Plantation Drive	Koloa	Hawaii	Kauai	96756	4.6390%	4.6057%	$29,000,000	29,000,000
	13	18,
    19, 20, 21	7QV1V0	Embassy
    Suites Portland Airport	Tucson
    Portland LLC	7900
    Northeast 82nd Avenue	Portland	Oregon	Multnomah	97220	3.9355%	3.9222%	$27,620,000	27,620,000
	14	 	6Y37K3	Westchester
    Office Portfolio 2500-2700 Series	2500/2700
    Westchester Avenue Owner SPE LLC	 	 	 	 	 	4.3670%	4.3537%	$27,100,000	27,100,000
	14.01	 	6Y37K3	2500
    Westchester Avenue	 	2500
    Westchester Avenue	Purchase	New
    York	Westchester
    	10577	 	 	 	 
	14.02	 	6Y37K3	2700
    Westchester Avenue	 	2700
    Westchester Avenue	Purchase	New
    York	Westchester
    	10577	 	 	 	 
	15	22	6Y7PF5	Alton
    Corporate Plaza	GI
    DC Irvine LLC	1733
    and 1833 Alton Parkway	Irvine	California	Orange	92606	2.8315%	2.7982%	$25,600,000	25,600,000
	16	 	6Y36N8	Skypark
    Plaza Shopping Center	Carwood
    Skypark, LLC, Sunray Skypark, LLC, Slaught Skypark, LLC, Sunburst Skypark, LLC and Investec Capital Skypark LLC	2481-2485
    Notre Dame Boulevard	Chico	California	Butte	95928	3.7305%	3.7172%	$24,500,000	24,500,000
	17	 	6YIXM7	Center
    For The Medical Arts	Boinis
    Associates, Ltd.	8100-8200
    Royal Palm Boulevard	Coral
    Springs	Florida	Broward	33065	4.2480%	4.2047%	$22,500,000	22,500,000
	18	23,
    24	4F0B20	Residence
    Inn and SpringHill Suites North Shore	North
    Shore Hospitality Associates, LP and General Robinson Associates, L.P.	 	 	 	 	 	5.3050%	5.2917%	$22,000,000	21,813,458
	18.01	 	4F0B20	SpringHill
    Suites Pittsburgh North Shore	 	223
    Federal Street	Pittsburgh	Pennsylvania	Allegheny	15212	 	 	 	 
	18.02	 	4F0B20	Residence
    Inn Pittsburgh North Shore	 	574
    West General Robinson Street	Pittsburgh	Pennsylvania	Allegheny	15212	 	 	 	 
	19	 	901QO9	David
    Holdings Portfolio	M.
    David Family Holdings KC, LLC, M. David Family Holdings Sepulveda, LLC and M. David Family Holdings San Antonio, LLC	 	 	 	 	 	4.2865%	4.2732%	$19,000,000	19,000,000
	19.01	 	901QO9	Sprouts
    Culver City	 	5660
    Sepulveda Boulevard	Culver
    City	California	Los
    Angeles 	90230	 	 	 	 
	19.02	 	901QO9	Walgreens
    San Antonio	 	 300
    East Houston Street	San
    Antonio	Texas	Bexar	78205	 	 	 	 
	19.03	 	901QO9	Petco
    Kansas City	 	600
    Northeast Vivion Road	Kansas
    City	Missouri	Clay	64118	 	 	 	 
	20	25	6Y0FB0	Holiday
    Inn Hollywood	Prince-Bush
    Investments Hollywood-H, LLP	2905
    Sheridan Street	Hollywood	Florida	Broward	33020	3.8110%	3.7677%	$16,000,000	16,000,000
	21	26	909PU9	Hyatt
    Place Princeton	Carnegie
    HP Owner LLC	3565
    US Highway 1	Princeton	New
    Jersey	Mercer	08540	4.2580%	4.2447%	$14,000,000	13,982,395
	22	 	6YSZU5	Michaels
    Distribution Center	Mike
    Jacksonville FL, LLC	9200
    West Beaver Street	Jacksonville	Florida	Duval	32220	3.8850%	3.8317%	$11,300,000	11,300,000
	23	 	6YGIQ9	Berkshire
    Hathaway	Rath
    Wisc LLC and Sealax, LLC	2505
    and 2533 Foster Avenue	Janesville	Wisconsin	Rock	53545	4.1820%	4.1287%	$9,500,000	9,500,000
	24	27	905W88	Bellevue
    Town Center	MO
    Bellevue, LLC	2064
    Lime Kiln Road	Bellevue	Wisconsin	Brown	54311	4.0790%	4.0657%	$9,425,000	9,425,000
	25	28	901PT9	Crossroads
    Shopping Center	Crossroads
    West Associates Limited Partnership	300-352
    South Highway 291	Liberty	Missouri	Clay	64068	4.2890%	4.2282%	$8,800,000	8,800,000
	26	 	6Y7R71	Devon
    Self Storage Charlotte	BTO
    Properties, LLC, BRO Properties, LLC and Louise Marie Properties, LLC	5649
    South Boulevard	Charlotte	North
    Carolina	Mecklenburg	28217	4.1430%	4.1297%	$8,700,000	8,688,782
	27	 	6YH672	Republic
    Place	555
    Republic LLC	555
    Republic Drive	Plano	Texas	Collin	75074	4.2100%	4.1967%	$8,400,000	8,400,000
	28	 	90NYN4	3507
    Ringsby Court	Freight
    on the River LLC	3507
    Ringsby Court	Denver	Colorado	Denver	80216	4.4000%	4.3467%	$6,860,000	6,860,000
	29	 	6YGIR7	Wesco
    International	Wesco
    Mad LLC and Otto3 LLC	3202
    Latham Drive	Madison	Wisconsin	Dane	53713	4.0420%	3.9887%	$6,850,000	6,850,000
	30	 	6Y9LV0	Sabre
    Springs	Sabre
    Springs Marketplace, L.P.	12602,
    12640, 12650, 12668 Sabre Springs Parkway	San
    Diego	California	San
    Diego	92128	3.6100%	3.5967%	$6,700,000	6,700,000
	31	 	6YHH05	Airport
    Village	Airport
    Village, LP	104
    Airport Road	Coatesville	Pennsylvania	Chester	19320	4.0000%	3.9867%	$6,500,000	6,500,000
	32	 	6Y2XJ9	Therma
    Tru Doors	Therma
    Howe LLC and Big Brother LLC	8055
    North State Road 9	Howe	Indiana	LaGrange	46746	3.9895%	3.9362%	$3,525,000	3,525,000
	33	 	65G8A7	Michaels
    at Stoneridge Shopping Center	DFP
    Partners LLC	925
    West Central Entrance	Duluth	Minnesota
    	Saint
    Louis	55811	4.2660%	4.2127%	$2,650,000	2,640,378

 

    

     

    
 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	Control
    Number	Footnotes	Loan
    Number	Property
    Name	Original
    Term To Maturity / ARD (Mos.)	Remaining
    Term To Maturity / ARD (Mos.)	Maturity
    Date / ARD	Original
    Amortization Term (Mos.)	Remaining
    Amortization Term (Mos.)	Monthly
    Debt Service ($) (1)	Servicing
    Fee Rate (%)	Subservicing
    Fee Rate (%)	Interest
    Accrual Method	Ownership
    Interest
	1	3,
    4	6Y2XK6	AMA
    Plaza	60	59	10/6/2021	0	0	$220,804	0.00500%	0.00000%	Actual/360	Fee
    Simple and Leasehold
	2	5,
    6	6Y38V8	225
    Bush Street	60	60	11/6/2021	0	0	$310,856	0.00500%	0.00000%	Actual/360	Fee
    Simple
	3	7,
    8, 9, 10	9049V6	540
    West Madison	120	118	9/6/2026	0	0	$205,259	0.00250%	0.00250%	Actual/360	Fee
    Simple
	4	10,
    11, 12, 13	4F3745	U.S.
    Industrial Portfolio	120	118	9/4/2026	NAP	NAP	$281,529	0.00250%	0.00250%	Actual/360	 
	4.01	 	4F3745	Hannibal	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.02	 	4F3745	Kraco	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.03	 	4F3745	New
    WinCup - Phoenix	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.04	 	4F3745	Worlds
    Finest Chocolates	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.05	 	4F3745	SET
    - MI	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.06	 	4F3745	Plaid
    - Decatur	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.07	 	4F3745	Oracle
    Packaging	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.08	 	4F3745	TestAmerica
    - West SAC	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.09	 	4F3745	TestAmerica
    - Arvada	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.10	 	4F3745	Northwest
    Mailing Service	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.11	 	4F3745	Lyons	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.12	 	4F3745	Wilbert
    Plastics	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.13	 	4F3745	Angstrom
    Graphics	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.14	 	4F3745	New
    WinCup - Stone Mountain	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.15	 	4F3745	Universal
    Pool - Armory	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.16	 	4F3745	Jade-Sterling
    - IL	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.17	 	4F3745	Plaid
    - Norcross	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.18	 	4F3745	Phillips
    and Temro	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.19	 	4F3745	TestAmerica
    - Savannah	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.20	 	4F3745	Hover-Davis	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.21	 	4F3745	Jade-Sterling
    - OH	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.22	 	4F3745	Fitz
    Aerospace	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.23	 	4F3745	MVP
    Charleston	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.24	 	4F3745	Paragon
    Tech	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.25	 	4F3745	Aramsco
    and Bulls Eye	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.26	 	4F3745	Shale-Inland	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.27	 	4F3745	M.P.
    Pumps	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.28	 	4F3745	TestAmerica
    - Pensacola	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.29	 	4F3745	Microfinish	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.30	 	4F3745	MVP
    Mayfield	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.31	 	4F3745	Builders
    FirstSource	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.32	 	4F3745	Banner	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.33	 	4F3745	SET
    - IN	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.34	 	4F3745	Progressive
    Metal	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.35	 	4F3745	Universal
    Pool - 166th	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.36	 	4F3745	SITEL	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.37	 	4F3745	TestAmerica
    - Tallahassee	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.38	 	4F3745	Texas
    Die Casting	 	 	 	 	 	 	 	 	 	Fee
    Simple
	4.39	 	4F3745	TestAmerica
    - Corpus Christi	 	 	 	 	 	 	 	 	 	Fee
    Simple
	5	 	9067L5	Quad
    at Whittier	120	120	11/6/2026	0	0	$252,193	0.00500%	0.01000%	Actual/360	Fee
    Simple
	6	10,
    14	9049W4	Simon
    Premium Outlets	120	118	9/6/2026	360	358	$294,668	0.00500%	0.00000%	Actual/360	 
	6.01	 	9049W4	Queenstown
    Premium Outlets	 	 	 	 	 	 	 	 	 	Fee
    Simple
	6.02	 	9049W4	Pismo
    Beach Premium Outlets	 	 	 	 	 	 	 	 	 	Fee
    Simple
	7	 	6Y3720	Westchester
    Office Portfolio 700 Series	120	120	11/6/2026	360	360	$286,852	0.00500%	0.00000%	Actual/360	 
	7.01	 	6Y3720	709
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	7.02	 	6Y3720	777
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	7.03	 	6Y3720	701
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	7.04	 	6Y3720	711
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	7.05	 	6Y3720	707
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8	 	651QH5	Iron
    Mountain National Industrial	120	120	11/6/2026	0	0	$145,747	0.00500%	0.00000%	Actual/360	 
	8.01	 	651QH5	1800
    Columbian Club Drive	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.02	 	651QH5	11333
    East 53rd Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.03	 	651QH5	600
    Burning Tree Road	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.04	 	651QH5	1202
    Avenue R	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.05	 	651QH5	2955
    South 18th Place	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.06	 	651QH5	1760
    North Saint Thomas Circle	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.07	 	651QH5	1915
    South Grand Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.08	 	651QH5	4449
    South 36th Street	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.09	 	651QH5	13425
    Branch View Lane	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.1	 	651QH5	2000
    Robotics Place	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.11	 	651QH5	1819
    South Lamar Street	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.12	 	651QH5	5151
    East 46th Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.13	 	651QH5	1510
    Capital Parkway	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.14	 	651QH5	1905
    John Connally Drive	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.15	 	651QH5	1520
    Capital Parkway	 	 	 	 	 	 	 	 	 	Fee
    Simple
	8.16	 	651QH5	3576
    North Moline Street	 	 	 	 	 	 	 	 	 	Fee
    Simple
	9	15	4W04K9	Hamilton
    Place	120	115	6/6/2026	360	355	$209,353	0.00250%	0.00250%	30/360	Fee
    Simple
	10	 	90OMK1	Village
    Square	120	119	10/6/2026	360	360	$193,462	0.00500%	0.02000%	Actual/360	Fee
    Simple
	11	16	6YH5H1	Hilton
    Garden Inn Old Town	120	120	11/6/2026	360	360	$176,675	0.00500%	0.02000%	Actual/360	Fee
    Simple
	12	17	9O3YF5	Poipu
    Shopping Village	120	120	11/6/2026	360	360	$149,344	0.00500%	0.02000%	Actual/360	Leasehold
	13	18,
    19, 20, 21	7QV1V0	Embassy
    Suites Portland Airport	120	117	8/6/2026	360	360	$130,837	0.00250%	0.00250%	Actual/360	Leasehold
	14	 	6Y37K3	Westchester
    Office Portfolio 2500-2700 Series	120	120	11/6/2026	360	360	$135,178	0.00500%	0.00000%	Actual/360	 
	14.01	 	6Y37K3	2500
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	14.02	 	6Y37K3	2700
    Westchester Avenue	 	 	 	 	 	 	 	 	 	Fee
    Simple
	15	22	6Y7PF5	Alton
    Corporate Plaza	120	119	10/6/2026	0	0	$61,244	0.00500%	0.02000%	Actual/360	Fee
    Simple
	16	 	6Y36N8	Skypark
    Plaza Shopping Center	120	120	11/6/2026	0	0	$77,222	0.00500%	0.00000%	Actual/360	Fee
    Simple
	17	 	6YIXM7	Center
    For The Medical Arts	120	120	11/6/2026	360	360	$110,660	0.00500%	0.03000%	Actual/360	Fee
    Simple
	18	23,
    24	4F0B20	Residence
    Inn and SpringHill Suites North Shore	120	112	3/6/2026	360	352	$122,235	0.00250%	0.00250%	Actual/360	 
	18.01	 	4F0B20	SpringHill
    Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	Fee
    Simple
	18.02	 	4F0B20	Residence
    Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	Fee
    Simple
	19	 	901QO9	David
    Holdings Portfolio	120	120	11/6/2026	0	0	$68,812	0.00500%	0.00000%	Actual/360	 
	19.01	 	901QO9	Sprouts
    Culver City	 	 	 	 	 	 	 	 	 	Fee
    Simple
	19.02	 	901QO9	Walgreens
    San Antonio	 	 	 	 	 	 	 	 	 	Fee
    Simple
	19.03	 	901QO9	Petco
    Kansas City	 	 	 	 	 	 	 	 	 	Fee
    Simple
	20	25	6Y0FB0	Holiday
    Inn Hollywood	120	120	11/6/2026	360	360	$74,653	0.00500%	0.03000%	Actual/360	Fee
    Simple
	21	26	909PU9	Hyatt
    Place Princeton	120	119	10/6/2026	360	359	$68,937	0.00500%	0.00000%	Actual/360	Fee
    Simple
	22	 	6YSZU5	Michaels
    Distribution Center	120	120	11/6/2026	0	0	$37,092	0.00500%	0.04000%	Actual/360	Fee
    Simple
	23	 	6YGIQ9	Berkshire
    Hathaway	120	119	10/6/2026	360	360	$46,357	0.00500%	0.04000%	Actual/360	Fee
    Simple
	24	27	905W88	Bellevue
    Town Center	120	119	10/6/2026	360	360	$45,427	0.00500%	0.00000%	Actual/360	Fee
    Simple
	25	28	901PT9	Crossroads
    Shopping Center	120	120	11/6/2026	360	360	$43,492	0.00250%	0.05000%	Actual/360	Fee
    Simple
	26	 	6Y7R71	Devon
    Self Storage Charlotte	120	119	10/6/2026	360	359	$42,256	0.00500%	0.00000%	Actual/360	Fee
    Simple
	27	 	6YH672	Republic
    Place	120	120	11/6/2026	360	360	$41,126	0.00500%	0.00000%	Actual/360	Fee
    Simple
	28	 	90NYN4	3507
    Ringsby Court	120	119	10/6/2026	360	360	$34,352	0.00500%	0.04000%	Actual/360	Fee
    Simple
	29	 	6YGIR7	Wesco
    International	120	119	10/6/2026	360	360	$32,869	0.00500%	0.04000%	Actual/360	Fee
    Simple
	30	 	6Y9LV0	Sabre
    Springs	120	120	11/6/2026	0	0	$20,436	0.00500%	0.00000%	Actual/360	Fee
    Simple
	31	 	6YHH05	Airport
    Village	120	120	11/6/2026	360	360	$31,032	0.00500%	0.00000%	Actual/360	Fee
    Simple
	32	 	6Y2XJ9	Therma
    Tru Doors	120	120	11/6/2026	360	360	$16,808	0.00500%	0.04000%	Actual/360	Fee
    Simple
	33	 	65G8A7	Michaels
    at Stoneridge Shopping Center	120	118	9/6/2026	300	298	$14,380	0.00500%	0.04000%	Actual/360	Fee
    Simple

 

    

     

    

 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	Control
    Number	Footnotes	Loan
    Number	Property
    Name	Crossed
    Group	Originator	Mortgage
    Loan Seller	Carve-out
    Guarantor	Letter
    of Credit	Upfront
    RE Tax Reserve ($)	Ongoing
    RE Tax Reserve ($)	Upfront
    Insurance Reserve ($)	Ongoing
    Insurance Reserve ($)	Upfront
    Replacement Reserve ($)
	1	3,
    4	6Y2XK6	AMA
    Plaza	NAP	GSMC	GSMC	BCSP
    VII Investments, L.P.	No	$0	$0	$0	$0	$0
	2	5,
    6	6Y38V8	225
    Bush Street	NAP	GSCRE	GSMC	Kylli
    Inc.	No	$2,208,429	$162,477	$109,121	$15,589	$0
	3	7,
    8, 9, 10	9049V6	540
    West Madison	NAP	GSMC	GSMC	Joseph
    Mizrachi and David Alcalay	No	$1,243,392	$888,137	$356,002	$32,364	$0
	4	10,
    11, 12, 13	4F3745	U.S.
    Industrial Portfolio	NAP	GSMC	GSMC	Michael
    W. Brennan, Robert G. Vanecko, Scott D. McKibben, Samuel A. Mandarino, Allen Crosswell, Tod Greenwood and Troy MacMane	No	$0	$0	$0	$0	$1,259,746
	4.01	 	4F3745	Hannibal	 	 	 	 	 	 	 	 	 	 
	4.02	 	4F3745	Kraco	 	 	 	 	 	 	 	 	 	 
	4.03	 	4F3745	New
    WinCup - Phoenix	 	 	 	 	 	 	 	 	 	 
	4.04	 	4F3745	Worlds
    Finest Chocolates	 	 	 	 	 	 	 	 	 	 
	4.05	 	4F3745	SET
    - MI	 	 	 	 	 	 	 	 	 	 
	4.06	 	4F3745	Plaid
    - Decatur	 	 	 	 	 	 	 	 	 	 
	4.07	 	4F3745	Oracle
    Packaging	 	 	 	 	 	 	 	 	 	 
	4.08	 	4F3745	TestAmerica
    - West SAC	 	 	 	 	 	 	 	 	 	 
	4.09	 	4F3745	TestAmerica
    - Arvada	 	 	 	 	 	 	 	 	 	 
	4.10	 	4F3745	Northwest
    Mailing Service	 	 	 	 	 	 	 	 	 	 
	4.11	 	4F3745	Lyons	 	 	 	 	 	 	 	 	 	 
	4.12	 	4F3745	Wilbert
    Plastics	 	 	 	 	 	 	 	 	 	 
	4.13	 	4F3745	Angstrom
    Graphics	 	 	 	 	 	 	 	 	 	 
	4.14	 	4F3745	New
    WinCup - Stone Mountain	 	 	 	 	 	 	 	 	 	 
	4.15	 	4F3745	Universal
    Pool - Armory	 	 	 	 	 	 	 	 	 	 
	4.16	 	4F3745	Jade-Sterling
    - IL	 	 	 	 	 	 	 	 	 	 
	4.17	 	4F3745	Plaid
    - Norcross	 	 	 	 	 	 	 	 	 	 
	4.18	 	4F3745	Phillips
    and Temro	 	 	 	 	 	 	 	 	 	 
	4.19	 	4F3745	TestAmerica
    - Savannah	 	 	 	 	 	 	 	 	 	 
	4.20	 	4F3745	Hover-Davis	 	 	 	 	 	 	 	 	 	 
	4.21	 	4F3745	Jade-Sterling
    - OH	 	 	 	 	 	 	 	 	 	 
	4.22	 	4F3745	Fitz
    Aerospace	 	 	 	 	 	 	 	 	 	 
	4.23	 	4F3745	MVP
    Charleston	 	 	 	 	 	 	 	 	 	 
	4.24	 	4F3745	Paragon
    Tech	 	 	 	 	 	 	 	 	 	 
	4.25	 	4F3745	Aramsco
    and Bulls Eye	 	 	 	 	 	 	 	 	 	 
	4.26	 	4F3745	Shale-Inland	 	 	 	 	 	 	 	 	 	 
	4.27	 	4F3745	M.P.
    Pumps	 	 	 	 	 	 	 	 	 	 
	4.28	 	4F3745	TestAmerica
    - Pensacola	 	 	 	 	 	 	 	 	 	 
	4.29	 	4F3745	Microfinish	 	 	 	 	 	 	 	 	 	 
	4.30	 	4F3745	MVP
    Mayfield	 	 	 	 	 	 	 	 	 	 
	4.31	 	4F3745	Builders
    FirstSource	 	 	 	 	 	 	 	 	 	 
	4.32	 	4F3745	Banner	 	 	 	 	 	 	 	 	 	 
	4.33	 	4F3745	SET
    - IN	 	 	 	 	 	 	 	 	 	 
	4.34	 	4F3745	Progressive
    Metal	 	 	 	 	 	 	 	 	 	 
	4.35	 	4F3745	Universal
    Pool - 166th	 	 	 	 	 	 	 	 	 	 
	4.36	 	4F3745	SITEL	 	 	 	 	 	 	 	 	 	 
	4.37	 	4F3745	TestAmerica
    - Tallahassee	 	 	 	 	 	 	 	 	 	 
	4.38	 	4F3745	Texas
    Die Casting	 	 	 	 	 	 	 	 	 	 
	4.39	 	4F3745	TestAmerica
    - Corpus Christi	 	 	 	 	 	 	 	 	 	 
	5	 	9067L5	Quad
    at Whittier	NAP	GSMC	GSMC	Terramar
    Retail Centers, LLC	Yes	$0	$0	$0	$0	$0
	6	10,
    14	9049W4	Simon
    Premium Outlets	NAP	GSMC	GSMC	Simon
    Property Group, L.P.	No	$0	$0	$0	$0	$0
	6.01	 	9049W4	Queenstown
    Premium Outlets	 	 	 	 	 	 	 	 	 	 
	6.02	 	9049W4	Pismo
    Beach Premium Outlets	 	 	 	 	 	 	 	 	 	 
	7	 	6Y3720	Westchester
    Office Portfolio 700 Series	NAP	GSMC	GSMC	Normandy
    Real Estate Fund II, LP	No	$541,000	$335,796	$0	$0	$0
	7.01	 	6Y3720	709
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.02	 	6Y3720	777
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.03	 	6Y3720	701
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.04	 	6Y3720	711
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.05	 	6Y3720	707
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	8	 	651QH5	Iron
    Mountain National Industrial	NAP	GSMC	GSMC	NAP	No	$0	$0	$0	$0	$0
	8.01	 	651QH5	1800
    Columbian Club Drive	 	 	 	 	 	 	 	 	 	 
	8.02	 	651QH5	11333
    East 53rd Avenue	 	 	 	 	 	 	 	 	 	 
	8.03	 	651QH5	600
    Burning Tree Road	 	 	 	 	 	 	 	 	 	 
	8.04	 	651QH5	1202
    Avenue R	 	 	 	 	 	 	 	 	 	 
	8.05	 	651QH5	2955
    South 18th Place	 	 	 	 	 	 	 	 	 	 
	8.06	 	651QH5	1760
    North Saint Thomas Circle	 	 	 	 	 	 	 	 	 	 
	8.07	 	651QH5	1915
    South Grand Avenue	 	 	 	 	 	 	 	 	 	 
	8.08	 	651QH5	4449
    South 36th Street	 	 	 	 	 	 	 	 	 	 
	8.09	 	651QH5	13425
    Branch View Lane	 	 	 	 	 	 	 	 	 	 
	8.1	 	651QH5	2000
    Robotics Place	 	 	 	 	 	 	 	 	 	 
	8.11	 	651QH5	1819
    South Lamar Street	 	 	 	 	 	 	 	 	 	 
	8.12	 	651QH5	5151
    East 46th Avenue	 	 	 	 	 	 	 	 	 	 
	8.13	 	651QH5	1510
    Capital Parkway	 	 	 	 	 	 	 	 	 	 
	8.14	 	651QH5	1905
    John Connally Drive	 	 	 	 	 	 	 	 	 	 
	8.15	 	651QH5	1520
    Capital Parkway	 	 	 	 	 	 	 	 	 	 
	8.16	 	651QH5	3576
    North Moline Street	 	 	 	 	 	 	 	 	 	 
	9	15	4W04K9	Hamilton
    Place	NAP	GSMC	GSMC	CBL
    & Associates Limited Partnership	No	$1,130,254	$226,051	$0	$0	$0
	10	 	90OMK1	Village
    Square	NAP	GSMC	GSMC	L&M
    Associates	No	$119,272	$119,272	$0	$0	$0
	11	16	6YH5H1	Hilton
    Garden Inn Old Town	NAP	GSMC	GSMC	Mayur
    B. Patel	No	$176,060	$37,552	$0	$0	$0
	12	17	9O3YF5	Poipu
    Shopping Village	NAP	GSMC	GSMC	Patrick
    L. Beach and Russell Geyser	No	$61,932	$9,113	$17,515	$8,758	$26,657
	13	18,
    19, 20, 21	7QV1V0	Embassy
    Suites Portland Airport	NAP	GSMC	GSMC	Atrium
    Leveraged Loan Fund, LLC	No	$389,616	$43,291	$0	$0	$0
	14	 	6Y37K3	Westchester
    Office Portfolio 2500-2700 Series	NAP	GSMC	GSMC	Normandy
    Real Estate Fund II, LP	No	$229,000	$68,834	$0	$0	$0
	14.01	 	6Y37K3	2500
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	14.02	 	6Y37K3	2700
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	15	22	6Y7PF5	Alton
    Corporate Plaza	NAP	GSMC	GSMC	DataCore
    Fund L.P.	No	$0	$0	$0	$0	$0
	16	 	6Y36N8	Skypark
    Plaza Shopping Center	NAP	GSMC	GSMC	Kenneth
    P. Slaught, Richard L. Ridgway, Ray Thomas, Helen A. Williams, Norman A. Slaught and Claire Slaught	No	$110,937	$19,140	$0	$0	$0
	17	 	6YIXM7	Center
    For The Medical Arts	NAP	GSMC	GSMC	Peter
    P. Boinis and Peter P. Boinis, as Trustee of the Peter P. Boinis Revocable Trust u/a/d May 6, 2016	No	$0	$15,728	$48,365	$8,061	$0
	18	23,
    24	4F0B20	Residence
    Inn and SpringHill Suites North Shore	NAP	GSMC	GSMC	Shen
    Xiao	No	$0	$76,003	$0	$0	$0
	18.01	 	4F0B20	SpringHill
    Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	 
	18.02	 	4F0B20	Residence
    Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	 
	19	 	901QO9	David
    Holdings Portfolio	NAP	GSMC	GSMC	Angie
    David	No	$0	$0	$0	$0	$0
	19.01	 	901QO9	Sprouts
    Culver City	 	 	 	 	 	 	 	 	 	 
	19.02	 	901QO9	Walgreens
    San Antonio	 	 	 	 	 	 	 	 	 	 
	19.03	 	901QO9	Petco
    Kansas City	 	 	 	 	 	 	 	 	 	 
	20	25	6Y0FB0	Holiday
    Inn Hollywood	NAP	GSMC	GSMC	Robert
    C. Bush and Thomas P. Prince 	No	$307,776	$21,373	$0	$0	$0
	21	26	909PU9	Hyatt
    Place Princeton	NAP	GSMC	GSMC	Alan
    Landis	No	$23,147	$23,147	$10,474	$5,237	$0
	22	 	6YSZU5	Michaels
    Distribution Center	NAP	GSMC	GSMC	Milestone
    Properties, LLC	No	$0	$0	$2,234	$372	$0
	23	 	6YGIQ9	Berkshire
    Hathaway	NAP	GSMC	GSMC	George
    Hicker, Robert Wenrich and Gordon M. Mapes	No	$0	$0	$0	$0	$0
	24	27	905W88	Bellevue
    Town Center	NAP	GSMC	GSMC	John
    I. Silverman	No	$46,419	$11,605	$0	$0	$100,000
	25	28	901PT9	Crossroads
    Shopping Center	NAP	GSMC	GSMC	David
    L. Johnson	No	$117,071	$9,756	$8,154	$3,571	$0
	26	 	6Y7R71	Devon
    Self Storage Charlotte	NAP	GSMC	GSMC	Brian
    T. O’Neill, Blake R. O’Neill, Shannon L. Stubblefield	No	$3,933	$3,933	$0	$0	$0
	27	 	6YH672	Republic
    Place	NAP	GSMC	GSMC	John
    Timothy Campbell, Kimberly Lim Marcelis and Anthony Lim	No	$0	$11,806	$4,974	$2,487	$0
	28	 	90NYN4	3507
    Ringsby Court	NAP	GSMC	GSMC	Kyle
    Zeppelin, Morton Zeppelin, Douglas Decker and Timothy White	No	$73,359	$14,907	$0	$0	$0
	29	 	6YGIR7	Wesco
    International	NAP	GSMC	GSMC	George
    Hicker, Robert Wenrich and Gordon M. Mapes	Yes	$0	$0	$0	$0	$0
	30	 	6Y9LV0	Sabre
    Springs	NAP	GSMC	GSMC	John
    C. Collins	No	$0	$0	$0	$0	$0
	31	 	6YHH05	Airport
    Village	NAP	GSMC	GSMC	Mike
    M. Nassimi	No	$17,041	$8,520	$0	$0	$0
	32	 	6Y2XJ9	Therma
    Tru Doors	NAP	GSMC	GSMC	George
    Hicker, Robert Wenrich and Gordon M. Mapes	No	$3,425	$3,425	$0	$0	$0
	33	 	65G8A7	Michaels
    at Stoneridge Shopping Center	NAP	GSMC	GSMC	Ronald
    B. Russ, Jeffrey S. Gould	No	$0	$0	$0	$0	$0

 

    

     

    
 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	Control
    Number	Footnotes	Loan
    Number	Property
    Name	Ongoing
    Replacement Reserve ($)	Replacement
    Reserve Caps ($)	Upfront
    TI/LC Reserve ($)	Ongoing
    TI/LC Reserve ($)	TI/LC
    Caps ($)	Upfront
    Debt Service Reserve ($)	Ongoing
    Debt Service Reserve ($)	Upfront
    Deferred Maintenance Reserve ($)	Ongoing
    Deferred Maintenance Reserve ($)	Upfront
    Environmental Reserve ($)
	1	3,
    4	6Y2XK6	AMA
    Plaza	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	2	5,
    6	6Y38V8	225
    Bush Street	$11,987	$0	$0	$95,894	$0	$0	$0	$0	$0	$0
	3	7,
    8, 9, 10	9049V6	540
    West Madison	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	4	10,
    11, 12, 13	4F3745	U.S.
    Industrial Portfolio	$0	$1,259,746	$3,000,000	$0	$4,500,000	$0	$0	$0	$0	$0
	4.01	 	4F3745	Hannibal	 	 	 	 	 	 	 	 	 	 
	4.02	 	4F3745	Kraco	 	 	 	 	 	 	 	 	 	 
	4.03	 	4F3745	New
    WinCup - Phoenix	 	 	 	 	 	 	 	 	 	 
	4.04	 	4F3745	Worlds
    Finest Chocolates	 	 	 	 	 	 	 	 	 	 
	4.05	 	4F3745	SET
    - MI	 	 	 	 	 	 	 	 	 	 
	4.06	 	4F3745	Plaid
    - Decatur	 	 	 	 	 	 	 	 	 	 
	4.07	 	4F3745	Oracle
    Packaging	 	 	 	 	 	 	 	 	 	 
	4.08	 	4F3745	TestAmerica
    - West SAC	 	 	 	 	 	 	 	 	 	 
	4.09	 	4F3745	TestAmerica
    - Arvada	 	 	 	 	 	 	 	 	 	 
	4.10	 	4F3745	Northwest
    Mailing Service	 	 	 	 	 	 	 	 	 	 
	4.11	 	4F3745	Lyons	 	 	 	 	 	 	 	 	 	 
	4.12	 	4F3745	Wilbert
    Plastics	 	 	 	 	 	 	 	 	 	 
	4.13	 	4F3745	Angstrom
    Graphics	 	 	 	 	 	 	 	 	 	 
	4.14	 	4F3745	New
    WinCup - Stone Mountain	 	 	 	 	 	 	 	 	 	 
	4.15	 	4F3745	Universal
    Pool - Armory	 	 	 	 	 	 	 	 	 	 
	4.16	 	4F3745	Jade-Sterling
    - IL	 	 	 	 	 	 	 	 	 	 
	4.17	 	4F3745	Plaid
    - Norcross	 	 	 	 	 	 	 	 	 	 
	4.18	 	4F3745	Phillips
    and Temro	 	 	 	 	 	 	 	 	 	 
	4.19	 	4F3745	TestAmerica
    - Savannah	 	 	 	 	 	 	 	 	 	 
	4.20	 	4F3745	Hover-Davis	 	 	 	 	 	 	 	 	 	 
	4.21	 	4F3745	Jade-Sterling
    - OH	 	 	 	 	 	 	 	 	 	 
	4.22	 	4F3745	Fitz
    Aerospace	 	 	 	 	 	 	 	 	 	 
	4.23	 	4F3745	MVP
    Charleston	 	 	 	 	 	 	 	 	 	 
	4.24	 	4F3745	Paragon
    Tech	 	 	 	 	 	 	 	 	 	 
	4.25	 	4F3745	Aramsco
    and Bulls Eye	 	 	 	 	 	 	 	 	 	 
	4.26	 	4F3745	Shale-Inland	 	 	 	 	 	 	 	 	 	 
	4.27	 	4F3745	M.P.
    Pumps	 	 	 	 	 	 	 	 	 	 
	4.28	 	4F3745	TestAmerica
    - Pensacola	 	 	 	 	 	 	 	 	 	 
	4.29	 	4F3745	Microfinish	 	 	 	 	 	 	 	 	 	 
	4.30	 	4F3745	MVP
    Mayfield	 	 	 	 	 	 	 	 	 	 
	4.31	 	4F3745	Builders
    FirstSource	 	 	 	 	 	 	 	 	 	 
	4.32	 	4F3745	Banner	 	 	 	 	 	 	 	 	 	 
	4.33	 	4F3745	SET
    - IN	 	 	 	 	 	 	 	 	 	 
	4.34	 	4F3745	Progressive
    Metal	 	 	 	 	 	 	 	 	 	 
	4.35	 	4F3745	Universal
    Pool - 166th	 	 	 	 	 	 	 	 	 	 
	4.36	 	4F3745	SITEL	 	 	 	 	 	 	 	 	 	 
	4.37	 	4F3745	TestAmerica
    - Tallahassee	 	 	 	 	 	 	 	 	 	 
	4.38	 	4F3745	Texas
    Die Casting	 	 	 	 	 	 	 	 	 	 
	4.39	 	4F3745	TestAmerica
    - Corpus Christi	 	 	 	 	 	 	 	 	 	 
	5	 	9067L5	Quad
    at Whittier	$0	$0	$0	$0	$0	$0	$0	$363,000	$0	$0
	6	10,
    14	9049W4	Simon
    Premium Outlets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	6.01	 	9049W4	Queenstown
    Premium Outlets	 	 	 	 	 	 	 	 	 	 
	6.02	 	9049W4	Pismo
    Beach Premium Outlets	 	 	 	 	 	 	 	 	 	 
	7	 	6Y3720	Westchester
    Office Portfolio 700 Series	$19,820	$0	$0	$110,110	$2,642,636	$0	$0	$0	$0	$0
	7.01	 	6Y3720	709
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.02	 	6Y3720	777
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.03	 	6Y3720	701
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.04	 	6Y3720	711
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	7.05	 	6Y3720	707
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	8	 	651QH5	Iron
    Mountain National Industrial	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	8.01	 	651QH5	1800
    Columbian Club Drive	 	 	 	 	 	 	 	 	 	 
	8.02	 	651QH5	11333
    East 53rd Avenue	 	 	 	 	 	 	 	 	 	 
	8.03	 	651QH5	600
    Burning Tree Road	 	 	 	 	 	 	 	 	 	 
	8.04	 	651QH5	1202
    Avenue R	 	 	 	 	 	 	 	 	 	 
	8.05	 	651QH5	2955
    South 18th Place	 	 	 	 	 	 	 	 	 	 
	8.06	 	651QH5	1760
    North Saint Thomas Circle	 	 	 	 	 	 	 	 	 	 
	8.07	 	651QH5	1915
    South Grand Avenue	 	 	 	 	 	 	 	 	 	 
	8.08	 	651QH5	4449
    South 36th Street	 	 	 	 	 	 	 	 	 	 
	8.09	 	651QH5	13425
    Branch View Lane	 	 	 	 	 	 	 	 	 	 
	8.1	 	651QH5	2000
    Robotics Place	 	 	 	 	 	 	 	 	 	 
	8.11	 	651QH5	1819
    South Lamar Street	 	 	 	 	 	 	 	 	 	 
	8.12	 	651QH5	5151
    East 46th Avenue	 	 	 	 	 	 	 	 	 	 
	8.13	 	651QH5	1510
    Capital Parkway	 	 	 	 	 	 	 	 	 	 
	8.14	 	651QH5	1905
    John Connally Drive	 	 	 	 	 	 	 	 	 	 
	8.15	 	651QH5	1520
    Capital Parkway	 	 	 	 	 	 	 	 	 	 
	8.16	 	651QH5	3576
    North Moline Street	 	 	 	 	 	 	 	 	 	 
	9	15	4W04K9	Hamilton
    Place	$13,686	$328,474	$0	$32,587	$782,082	$0	$0	$0	$0	$0
	10	 	90OMK1	Village
    Square	$6,548	$250,000	$360,000	$24,553	$900,000	$0	$0	$0	$0	$0
	11	16	6YH5H1	Hilton
    Garden Inn Old Town	$35,278	$0	$0	$0	$0	$0	$0	$0	$0	$0
	12	17	9O3YF5	Poipu
    Shopping Village	$702	$0	$0	$5,261	$315,675	$0	$0	$47,100	$0	$0
	13	18,
    19, 20, 21	7QV1V0	Embassy
    Suites Portland Airport	$26,056	$0	$0	$0	$0	$0	$0	$0	$0	$0
	14	 	6Y37K3	Westchester
    Office Portfolio 2500-2700 Series	$6,062	$0	$0	$48,494	$1,163,856	$0	$0	$0	$0	$0
	14.01	 	6Y37K3	2500
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	14.02	 	6Y37K3	2700
    Westchester Avenue	 	 	 	 	 	 	 	 	 	 
	15	22	6Y7PF5	Alton
    Corporate Plaza	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	16	 	6Y36N8	Skypark
    Plaza Shopping Center	$3,109	$0	$0	$10,417	$375,000	$0	$0	$0	$0	$0
	17	 	6YIXM7	Center
    For The Medical Arts	$1,746	$0	$0	$7,934	$380,836	$0	$0	$0	$0	$0
	18	23,
    24	4F0B20	Residence
    Inn and SpringHill Suites North Shore	$63,396	$0	$0	$0	$0	$0	$0	$0	$0	$0
	18.01	 	4F0B20	SpringHill
    Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	 
	18.02	 	4F0B20	Residence
    Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 	 	 
	19	 	901QO9	David
    Holdings Portfolio	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	19.01	 	901QO9	Sprouts
    Culver City	 	 	 	 	 	 	 	 	 	 
	19.02	 	901QO9	Walgreens
    San Antonio	 	 	 	 	 	 	 	 	 	 
	19.03	 	901QO9	Petco
    Kansas City	 	 	 	 	 	 	 	 	 	 
	20	25	6Y0FB0	Holiday
    Inn Hollywood	$21,345	$0	$0	$0	$0	$0	$0	$0	$0	$0
	21	26	909PU9	Hyatt
    Place Princeton	$17,054	$0	$0	$0	$0	$0	$0	$0	$0	$0
	22	 	6YSZU5	Michaels
    Distribution Center	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	23	 	6YGIQ9	Berkshire
    Hathaway	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	24	27	905W88	Bellevue
    Town Center	$0	$45,000	$200,000	$0	$200,000	$0	$0	$0	$0	$0
	25	28	901PT9	Crossroads
    Shopping Center	$1,664	$0	$250,000	$0	$200,000	$0	$0	$28,105	$0	$0
	26	 	6Y7R71	Devon
    Self Storage Charlotte	$1,158	$41,620	$0	$0	$0	$0	$0	$104,885	$0	$0
	27	 	6YH672	Republic
    Place	$1,713	$0	$200,000	$8,157	$391,556	$0	$0	$121,781	$0	$0
	28	 	90NYN4	3507
    Ringsby Court	$1,055	$0	$0	$3,598	$129,515	$0	$0	$0	$0	$0
	29	 	6YGIR7	Wesco
    International	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	30	 	6Y9LV0	Sabre
    Springs	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	31	 	6YHH05	Airport
    Village	$1,176	$0	$0	$2,939	$70,531	$0	$0	$0	$0	$0
	32	 	6Y2XJ9	Therma
    Tru Doors	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	33	 	65G8A7	Michaels
    at Stoneridge Shopping Center	$554	$0	$0	$0	$0	$0	$0	$0	$0	$0

 

    

     

    
 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	Control
    Number	Footnotes	Loan
    Number	Property
    Name	Ongoing
    Environmental Reserve ($)	Upfront
    Other Reserve ($)	Ongoing
    Other Reserve ($)	Other
    Reserve Description	Grace
    Period- Default	Grace
    Period- Late Fee	Cash
    Management	Lockbox	General
    Property Type	Prepayment
    Provision (2)	Interest
    Accrual Method	 Rooms,
    Sq Ft 	Unit
    Description
	1	3,
    4	6Y2XK6	AMA
    Plaza	$0	$5,954,009	$0	Unfunded
    Obligations Reserve	0	0	Springing	Hard	Office	Lockout/25_Defeasance/30_0%/5	Actual/360	                               1,119,503
    	SF
	2	5,
    6	6Y38V8	225
    Bush Street	$0	$0	$0	 	0	0	In
    Place	Hard	Office	Lockout/24_Defeasance/23_0%/13	Actual/360	                                  575,363
    	SF
	3	7,
    8, 9, 10	9049V6	540
    West Madison	$0	$40,566,832	$0	Unfunded
    Obligations Reserve ($23,258,542), Free Rent Reserve ($17,308,290)	0	0	In
    Place	Hard	Office	Lockout/26_Defeasance/90_0%/4	Actual/360	                               1,098,633
    	SF
	4	10,
    11, 12, 13	4F3745	U.S.
    Industrial Portfolio	$0	$5,816,966	$0	Plaid
    Expansion Construction Reserve	0	3	Springing	Hard	 	Lockout/26_Defeasance/90_0%/4	Actual/360	                               6,298,728
    	SF
	4.01	 	4F3745	Hannibal	 	 	 	 	 	 	 	 	Industrial	 	 	                                  429,122
    	SF
	4.02	 	4F3745	Kraco	 	 	 	 	 	 	 	 	Industrial	 	 	                                  364,440
    	SF
	4.03	 	4F3745	New
    WinCup - Phoenix	 	 	 	 	 	 	 	 	Industrial	 	 	                                  322,070
    	SF
	4.04	 	4F3745	Worlds
    Finest Chocolates	 	 	 	 	 	 	 	 	Industrial	 	 	                                  434,252
    	SF
	4.05	 	4F3745	SET
    - MI	 	 	 	 	 	 	 	 	Industrial	 	 	                                  284,351
    	SF
	4.06	 	4F3745	Plaid
    - Decatur	 	 	 	 	 	 	 	 	Industrial	 	 	                                  282,514
    	SF
	4.07	 	4F3745	Oracle
    Packaging	 	 	 	 	 	 	 	 	Industrial	 	 	                                  437,911
    	SF
	4.08	 	4F3745	TestAmerica
    - West SAC	 	 	 	 	 	 	 	 	Industrial	 	 	                                    66,203
    	SF
	4.09	 	4F3745	TestAmerica
    - Arvada	 	 	 	 	 	 	 	 	Industrial	 	 	                                    57,966
    	SF
	4.10	 	4F3745	Northwest
    Mailing Service	 	 	 	 	 	 	 	 	Industrial	 	 	                                  228,032
    	SF
	4.11	 	4F3745	Lyons	 	 	 	 	 	 	 	 	Industrial	 	 	                                  172,758
    	SF
	4.12	 	4F3745	Wilbert
    Plastics	 	 	 	 	 	 	 	 	Industrial	 	 	                                  257,086
    	SF
	4.13	 	4F3745	Angstrom
    Graphics	 	 	 	 	 	 	 	 	Industrial	 	 	                                  231,505
    	SF
	4.14	 	4F3745	New
    WinCup - Stone Mountain	 	 	 	 	 	 	 	 	Industrial	 	 	                                  220,380
    	SF
	4.15	 	4F3745	Universal
    Pool - Armory	 	 	 	 	 	 	 	 	Industrial	 	 	                                  240,255
    	SF
	4.16	 	4F3745	Jade-Sterling
    - IL	 	 	 	 	 	 	 	 	Industrial	 	 	                                  215,389
    	SF
	4.17	 	4F3745	Plaid
    - Norcross	 	 	 	 	 	 	 	 	Industrial	 	 	                                    71,620
    	SF
	4.18	 	4F3745	Phillips
    and Temro	 	 	 	 	 	 	 	 	Industrial	 	 	                                  101,680
    	SF
	4.19	 	4F3745	TestAmerica
    - Savannah	 	 	 	 	 	 	 	 	Industrial	 	 	                                    54,284
    	SF
	4.20	 	4F3745	Hover-Davis	 	 	 	 	 	 	 	 	Industrial	 	 	                                    66,100
    	SF
	4.21	 	4F3745	Jade-Sterling
    - OH	 	 	 	 	 	 	 	 	Industrial	 	 	                                  174,511
    	SF
	4.22	 	4F3745	Fitz
    Aerospace	 	 	 	 	 	 	 	 	Industrial	 	 	                                  129,000
    	SF
	4.23	 	4F3745	MVP
    Charleston	 	 	 	 	 	 	 	 	Industrial	 	 	                                  108,000
    	SF
	4.24	 	4F3745	Paragon
    Tech	 	 	 	 	 	 	 	 	Industrial	 	 	                                    88,857
    	SF
	4.25	 	4F3745	Aramsco
    and Bulls Eye	 	 	 	 	 	 	 	 	Industrial	 	 	                                    99,783
    	SF
	4.26	 	4F3745	Shale-Inland	 	 	 	 	 	 	 	 	Industrial	 	 	                                  193,789
    	SF
	4.27	 	4F3745	M.P.
    Pumps	 	 	 	 	 	 	 	 	Industrial	 	 	                                    81,769
    	SF
	4.28	 	4F3745	TestAmerica
    - Pensacola	 	 	 	 	 	 	 	 	Industrial	 	 	                                    21,911
    	SF
	4.29	 	4F3745	Microfinish	 	 	 	 	 	 	 	 	Industrial	 	 	                                  144,786
    	SF
	4.30	 	4F3745	MVP
    Mayfield	 	 	 	 	 	 	 	 	Industrial	 	 	                                  101,244
    	SF
	4.31	 	4F3745	Builders
    FirstSource	 	 	 	 	 	 	 	 	Industrial	 	 	                                  116,897
    	SF
	4.32	 	4F3745	Banner	 	 	 	 	 	 	 	 	Industrial	 	 	                                    58,450
    	SF
	4.33	 	4F3745	SET
    - IN	 	 	 	 	 	 	 	 	Industrial	 	 	                                  117,376
    	SF
	4.34	 	4F3745	Progressive
    Metal	 	 	 	 	 	 	 	 	Industrial	 	 	                                    58,250
    	SF
	4.35	 	4F3745	Universal
    Pool - 166th	 	 	 	 	 	 	 	 	Industrial	 	 	                                  109,814
    	SF
	4.36	 	4F3745	SITEL	 	 	 	 	 	 	 	 	Industrial	 	 	                                    46,812
    	SF
	4.37	 	4F3745	TestAmerica
    - Tallahassee	 	 	 	 	 	 	 	 	Industrial	 	 	                                    16,500
    	SF
	4.38	 	4F3745	Texas
    Die Casting	 	 	 	 	 	 	 	 	Industrial	 	 	                                    78,177
    	SF
	4.39	 	4F3745	TestAmerica
    - Corpus Christi	 	 	 	 	 	 	 	 	Industrial	 	 	                                    14,884
    	SF
	5	 	9067L5	Quad
    at Whittier	$0	$4,507,426	$0	Michael’s
    Reserve ($3,720,000), Marshalls Reserve ($187,034.27), Unfunded Obligations Reserve ($600,392)	0	5
    days grace, one time during the term of the loan, other than the payment due on the Maturity Date	Springing	Hard	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  433,553
    	SF
	6	10,
    14	9049W4	Simon
    Premium Outlets	$0	$0	$0	 	0	0	Springing	Hard	 	Lockout/26_Defeasance/87_0%/7	Actual/360	                                  436,987
    	SF
	6.01	 	9049W4	Queenstown
    Premium Outlets	 	 	 	 	 	 	 	 	Retail	 	 	                                  289,571
    	SF
	6.02	 	9049W4	Pismo
    Beach Premium Outlets	 	 	 	 	 	 	 	 	Retail	 	 	                                  147,416
    	SF
	7	 	6Y3720	Westchester
    Office Portfolio 700 Series	$0	$5,885,391	$0	Unfunded
    Obligations Reserve ($4,788,965.18), Free Rent Reserve ($1,096,426)	0	0	In
    Place	Hard	 	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  671,330
    	SF
	7.01	 	6Y3720	709
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  125,953
    	SF
	7.02	 	6Y3720	777
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  124,108
    	SF
	7.03	 	6Y3720	701
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  162,613
    	SF
	7.04	 	6Y3720	711
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  116,799
    	SF
	7.05	 	6Y3720	707
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  141,857
    	SF
	8	 	651QH5	Iron
    Mountain National Industrial	$0	$0	$0	 	0	0	In
    Place	Hard	 	Lockout/24_Defeasance/89_0%/7	Actual/360	                               1,590,565
    	SF
	8.01	 	651QH5	1800
    Columbian Club Drive	 	 	 	 	 	 	 	 	Industrial	 	 	                                  288,776
    	SF
	8.02	 	651QH5	11333
    East 53rd Avenue	 	 	 	 	 	 	 	 	Industrial	 	 	                                  205,121
    	SF
	8.03	 	651QH5	600
    Burning Tree Road	 	 	 	 	 	 	 	 	Industrial	 	 	                                    67,995
    	SF
	8.04	 	651QH5	1202
    Avenue R	 	 	 	 	 	 	 	 	Industrial	 	 	                                  175,716
    	SF
	8.05	 	651QH5	2955
    South 18th Place	 	 	 	 	 	 	 	 	Industrial	 	 	                                    76,210
    	SF
	8.06	 	651QH5	1760
    North Saint Thomas Circle	 	 	 	 	 	 	 	 	Industrial	 	 	                                    46,878
    	SF
	8.07	 	651QH5	1915
    South Grand Avenue	 	 	 	 	 	 	 	 	Industrial	 	 	                                    43,925
    	SF
	8.08	 	651QH5	4449
    South 36th Street	 	 	 	 	 	 	 	 	Industrial	 	 	                                    79,059
    	SF
	8.09	 	651QH5	13425
    Branch View Lane	 	 	 	 	 	 	 	 	Industrial	 	 	                                  121,579
    	SF
	8.1	 	651QH5	2000
    Robotics Place	 	 	 	 	 	 	 	 	Industrial	 	 	                                  101,289
    	SF
	8.11	 	651QH5	1819
    South Lamar Street	 	 	 	 	 	 	 	 	Industrial	 	 	                                  102,881
    	SF
	8.12	 	651QH5	5151
    East 46th Avenue	 	 	 	 	 	 	 	 	Industrial	 	 	                                    59,678
    	SF
	8.13	 	651QH5	1510
    Capital Parkway	 	 	 	 	 	 	 	 	Industrial	 	 	                                    65,000
    	SF
	8.14	 	651QH5	1905
    John Connally Drive	 	 	 	 	 	 	 	 	Industrial	 	 	                                    63,629
    	SF
	8.15	 	651QH5	1520
    Capital Parkway	 	 	 	 	 	 	 	 	Industrial	 	 	                                    52,829
    	SF
	8.16	 	651QH5	3576
    North Moline Street	 	 	 	 	 	 	 	 	Industrial	 	 	                                    40,000
    	SF
	9	15	4W04K9	Hamilton
    Place	$0	$0	$0	 	0	0	Springing	Hard	Retail	Lockout/11_>YM
    or 1%/105_0%/4	30/360	                                  391,041
    	SF
	10	 	90OMK1	Village
    Square	$0	$0	$0	 	0	0	In
    Place	Hard	Retail	Lockout/25_Defeasance/90_0%/5	Actual/360	                                  392,854
    	SF
	11	16	6YH5H1	Hilton
    Garden Inn Old Town	$0	$0	$0	 	0	0	Springing	Hard	Hospitality	Lockout/24_Defeasance/89_0%/7	Actual/360	                                        179
    	Rooms
	12	17	9O3YF5	Poipu
    Shopping Village	$0	$56,314	$56,314	Ground
    Lease Reserve	0	0	In
    Place	Hard	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    42,090
    	SF
	13	18,
    19, 20, 21	7QV1V0	Embassy
    Suites Portland Airport	$0	$62,500	$275,000	Ground
    Lease Reserve ($62,500), Monthly PIP Work Reserve ($275,000)	0	0	In
    Place	Hard	Hospitality	Lockout/25_>YM
    or 1%/88_0%/7	Actual/360	                                        251
    	Rooms
	14	 	6Y37K3	Westchester
    Office Portfolio 2500-2700 Series	$0	$1,017,561	$0	Unfunded
    Obligations Reserve ($940,902.77), Free Rent Reserve ($76,658)	0	0	In
    Place	Hard	 	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  291,265
    	SF
	14.01	 	6Y37K3	2500
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  168,303
    	SF
	14.02	 	6Y37K3	2700
    Westchester Avenue	 	 	 	 	 	 	 	 	Office	 	 	                                  122,962
    	SF
	15	22	6Y7PF5	Alton
    Corporate Plaza	$0	$2,752,845	$0	Unfunded
    General Contractor Obligation Reserve ($1,571,278.44), Free Rent Reserve ($849,965.03), Outstanding TI/LC Reserve ($331,601.61)	0	0	Springing	Hard	Office	Lockout/25_Defeasance/91_0%/4	Actual/360	                                  209,351
    	SF
	16	 	6Y36N8	Skypark
    Plaza Shopping Center	$0	$8,985	$0	Unfunded
    Obligations Reserve	0	0	Springing	Springing	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  186,553
    	SF
	17	 	6YIXM7	Center
    For The Medical Arts	$0	$10,000	$0	Unfunded
    Obligations Reserve	0	0	Springing	Springing	Mixed
    Use	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    95,209
    	SF
	18	23,
    24	4F0B20	Residence
    Inn and SpringHill Suites North Shore	$0	$4,180,000	$0	PIP
    Reserve ($2,140,000 SpringHill Suites, $2,040,000 Residence Inn)	0	0	Springing	Hard	 	Lockout/32_Defeasance/84_0%/4	Actual/360	                                        378
    	Rooms
	18.01	 	4F0B20	SpringHill
    Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 	Hospitality	 	 	                                        198
    	Rooms
	18.02	 	4F0B20	Residence
    Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 	Hospitality	 	 	                                        180
    	Rooms
	19	 	901QO9	David
    Holdings Portfolio	$0	$0	$0	 	0	0	Springing	Springing	 	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    59,826
    	SF
	19.01	 	901QO9	Sprouts
    Culver City	 	 	 	 	 	 	 	 	Retail	 	 	                                    32,873
    	SF
	19.02	 	901QO9	Walgreens
    San Antonio	 	 	 	 	 	 	 	 	Retail	 	 	                                    13,400
    	SF
	19.03	 	901QO9	Petco
    Kansas City	 	 	 	 	 	 	 	 	Retail	 	 	                                    13,553
    	SF
	20	25	6Y0FB0	Holiday
    Inn Hollywood	$0	$2,506,574	$0	PIP
    Reserve ($951,099.76), Façade Reserve ($1,555,474.08)	0	0	Springing	Springing	Hospitality	Lockout/24_Defeasance/92_0%/4	Actual/360	                                        150
    	Rooms
	21	26	909PU9	Hyatt
    Place Princeton	$0	$530,270	$0	PIP
    Reserve	0	0	Springing	Hard	Hospitality	Lockout/25_Defeasance/91_0%/4	Actual/360	                                        122
    	Rooms
	22	 	6YSZU5	Michaels
    Distribution Center	$0	$0	$0	 	0	0	Springing	Springing	Industrial	Lockout/24_>YM
    or 1%/89_0%/7	Actual/360	                                  506,153
    	SF
	23	 	6YGIQ9	Berkshire
    Hathaway	$0	$0	$0	 	0	0	Springing	Springing	Industrial	Lockout/25_Defeasance/91_0%/4	Actual/360	                                  277,270
    	SF
	24	27	905W88	Bellevue
    Town Center	$0	$0	$0	 	0	0	Springing	Springing	Retail	Lockout/25_Defeasance/90_0%/5	Actual/360	                                    74,270
    	SF
	25	28	901PT9	Crossroads
    Shopping Center	$0	$153,990	$0	Unfunded
    Obligations Reserve ($100,000), Big Bob’s Reserve ($53,989.86)	0	0	Springing	Springing	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  100,654
    	SF
	26	 	6Y7R71	Devon
    Self Storage Charlotte	$0	$0	$0	 	0	0	None	None	Self
    Storage	Lockout/25_Defeasance/88_0%/7	Actual/360	                                    92,648
    	SF
	27	 	6YH672	Republic
    Place	$0	$545,893	$0	Elevator
    Reserve ($500,000), Unfunded Obligations ($45,893)	0	0	In
    Place	Hard	Office	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    97,889
    	SF
	28	 	90NYN4	3507
    Ringsby Court	$0	$0	$0	 	0	0	In
    Place	Hard	Office	Lockout/25_Defeasance/91_0%/4	Actual/360	                                    28,781
    	SF
	29	 	6YGIR7	Wesco
    International	$0	$0	$0	 	0	0	Springing	Springing	Industrial	Lockout/25_Defeasance/91_0%/4	Actual/360	                                  135,617
    	SF
	30	 	6Y9LV0	Sabre
    Springs	$0	$30,000	$0	Unfunded
    Obligations Reserve	0	0	Springing	Springing	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    33,773
    	SF
	31	 	6YHH05	Airport
    Village	$0	$0	$0	 	0	0	Springing	Hard	Retail	Lockout/24_Defeasance/92_0%/4	Actual/360	                                    70,532
    	SF
	32	 	6Y2XJ9	Therma
    Tru Doors	$0	$745,714	$0	Unfunded
    Obligations Account	0	0	Springing	Springing	Industrial	Lockout/24_Defeasance/92_0%/4	Actual/360	                                  347,517
    	SF
	33	 	65G8A7	Michaels
    at Stoneridge Shopping Center	$0	$0	$0	 	0	0	Springing	Springing	Retail	Lockout/26_Defeasance/90_0%/4	Actual/360	                                    30,225
    	SF

 

    

     

    

 

GS4 

Exhibit
B - Mortgage Loan Schedule

 

	1	The monthly debt service shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration of the interest-only period. 
	2	The open period is inclusive of the Maturity Date.
	3	The Cut-off Date Principal Balance of $100,000,000 represents the note A-1 of a $304,000,000 whole loan evidenced by two senior pari passu notes, a subordinate note B with an outstanding principal balance as of the Cut-off Date of $101,600,000, and a subordinate note C with an outstanding principal balance as of the Cut-off Date of $72,400,000. The note A-2, with an outstanding principal balance of $30,000,000, is expected to be contributed to one or more future securitization transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance of the AMA Plaza Senior Loans of $130,000,000.
	4	The lockout period will be at least 25 payment dates beginning with and including the first payment date of November 6, 2016. For the purposes of this prospectus, the assumed lockout period of 25 payment dates is based on the expected GSMS 2016-GS4 securitization closing date in November 2016. The actual lockout period may be longer.
	5	The Cut-off Date Principal Balance of $100,000,000 represents the note A-1 of a $235,000,000 whole loan evidenced by two senior pari passu notes and a subordinate note B with an outstanding principal balance as of the Cut-off Date of $113,000,000. The note A-2, with an outstanding principal balance of $22,000,000, is expected to be contributed to one or more future securitization transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance of the 225 Bush Street Senior Loans of $122,000,000.
	6	The lockout period will be at least 24 payment dates beginning with and including the first payment date of December 6, 2016. For the purposes of this prospectus, the assumed lockout period of 24 payment dates is based on the expected GSMS 2016-GS4 securitization closing date in November 2016. The actual lockout period may be longer.
	7	The Cut-off Date Principal Balance of $75,292,000 represents the note A-2 of a $325,000,000 whole loan evidenced by two senior pari passu notes, a subordinate note B with an outstanding principal balance as of the Cut-off Date of $54,208,000, and a subordinate note C with an outstanding principal balance as of the Cut-off Date of $108,500,000. The note A-1, with an outstanding principal balance of $87,000,000, and the subordinate note B, were contributed to the GSMS 2016-GS3 securitization transaction. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance of the 540 West Madison Senior Loans of $162,292,000.
	8	The Ongoing TI/LC Reserve, commencing with the due date in September 2019, will equal $137,329.
	9	Under the terms of the Mortgage Loan documents, the first due date is November 6, 2016, the maturity date is September 6, 2026 and the Original Interest-Only Period and Original Term to Maturity are actually 119 months. However, due to the fact that GSMC contributed an initial interest deposit amount to the GSMS 2016-GS3 issuing entity to cover an amount that represents one-month’s interest that would have accrued with respect to the Mortgage Loan at the Net Mortgage Rate with respect to a October 2016 payment date, such Mortgage Loan is being treated as having a First Due Date on October 6, 2016, and as having an Original Interest-Only Period and Original Term to Maturity of 120 months.
	10	The lockout period will be at least 26 payment dates beginning with and including the first payment date of October 6, 2016. For the purposes of this prospectus, the assumed lockout period of 26 payment dates is based on the expected GSMS 2016-GS4 securitization closing date in November 2016. The actual lockout period may be longer.
	11	The Cut-off Date Principal Balance of $74,939,052 represents the non-controlling note A-2 of a $307,640,000 whole loan combination evidenced by four pari passu notes. The companion loans are evidenced by controlling note A-1, non-controlling note A-3 and non-controlling note A-4 with an aggregate outstanding principal balance as of the Cut-off Date of $232,450,948. The controlling note A-1 was contributed to the GSMS 2016-GS3 securitization transaction. The non-controlling note A-3 and note A-4 are expected to be contributed to one or more future securitization transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $307,390,000.
	12	The U.S. Industrial Portfolio Whole Loan requires monthly debt service payments of (i) $125,000 of principal plus (ii) the amount of interest accrued on the outstanding principal balance of the mortgage loan during the related interest accrual period.
	13	The Ongoing TI/LC Reserve, commencing on September 1, 2021 (or earlier if funds on deposit therein are less than $1,500,000) will equal $150,000 up to an amount equal to $4,500,000 until such time as funds on deposit therein are less than $1,500,000, and on each due date thereafter, the borrower will be required to resume monthly deposits in an amount equal to the lesser of (x) $150,000 and (y) the amount necessary to cause the tenant improvements and leasing commissions reserve account to contain funds equal to $1,500,000.
	14	The Cut-off Date Principal Balance of $66,788,798 represents the controlling note A-1 of a $102,000,000 loan combination evidenced by two pari passu notes. The companion loan, evidenced by non-controlling note A-2, with an outstanding principal balance as of the Cut-off Date of $34,889,671 is expected to be contributed to one or more future securitization transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $102,000,000.
	15	The Cut-off Date Principal Balance of $41,714,341 represents the non-controlling note A-2 of a $107,000,000 whole loan evidenced by two pari passu notes. The companion loan is evidenced by the controlling note A-1 with an outstanding principal balance as of the Cut-off Date of $64,557,908, which was contributed to the GSMS 2016-GS3 transaction. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $107,000,000.
	16	The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $35,277.61 for the Due Dates occurring in December 2016 through November 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the Franchise Agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the Operating Income of the Property for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in October.
	17	On or before December 6, 2016, Borrower is required to deposit the amount of $2,842.73 into the replacement reserve account.
	18	The Cut-off Date Principal Balance of $27,620,000 represents the non-controlling note A-2 of a $57,620,000 whole loan combination evidenced by two pari passu notes. The companion loan, evidenced by controlling note A-1, with an outstanding principal balance as of the Cut-off Date of $30,000,000 was contributed to the GSMS 2016-GS3 securitization transaction. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $57,620,000.
	19	The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to the greater of (i) the aggregate amount of all deposits for replacements, if any, required to be deposited by the borrower with franchisor or manager pursuant to the applicable franchise agreement or management agreement (without duplication) and (ii) 4% of gross income from operations for the property, for the calendar month that is two calendar months prior to the calendar month of the payment date on which such deposit is required.
	20	On October 6, 2018 and on any business day thereafter through the Maturity Date, the borrower may, at its option, prepay the debt in whole or in part. No prepayment of all or any portion of the loan may cause, give rise to a right to require, or otherwise result in, the release of the lien of the mortgage on the Mortgaged Property.
	21	Upon written request from the borrower, within ten business days of such request, the lender is required to transfer from the replacement reserve account amounts not to exceed 75% of the total amount of replacement reserve funds then deposited in the replacement reserve account to the PIP reserve account.
	22	Commencing on the Anticipated Repayment Date, the interest rate increases to 3.0000% per annum plus the greater of (i) the Interest Rate or (ii) the yield on the most recently issued 10-year U.S. Treasury notes as of the Anticipated Repayment Date.
	23	The Cut-off Date Principal Balance of $21,813,458 represents the non-controlling note A-2-2 of a $69,000,000 whole loan evidenced by three pari passu notes. The companion loan is evidenced by the controlling note A-1 with an outstanding principal balance as of the Cut-off Date of $24,788,020 and non-controlling note A-2-1 with an outstanding principal balance as of the Cut-off Date of $21,813,458. The controlling note A-1 was contributed to the GSMS 2016-GS2 transaction and the non-controlling note A-2-1 was contributed to the GSMS 2016-GS3 transaction. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $68,414,936.
	24	The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) for the Due Dates occurring in April 2016 through March 2017, $63,395.52 and (ii) for each Due Date thereafter, an amount equal to the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the operating income of the property for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in February.
	25	The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $21,345.03 for the Due Dates occurring in December 2016 through November 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the operating income of the property for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in October.
	26	The Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $17,054.42 for the Payment Dates that occur in November 2016 through October 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the operating income of the property for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in September. 
	27	At origination, the borrower funded a $100,000 Upfront Replacement Reserve. In the event that the replacement reserve falls below $45,000, the borrower is required to fund an Ongoing Replacement Reserve in the monthly amount of $1,237.83, subject to a cap of $45,000.
	28	At origination, the borrower funded a $250,000 Upfront TI/LC Reserve. In the event that the TI/LC reserve falls below $200,000, the borrower is required to fund an Ongoing TI/LC Reserve in the monthly amount of $4,166.67, subject to a cap of $200,000.

 

    

     

    

 

 

EXHIBIT
C

 

FORM
OF INVESTMENT REPRESENTATION LETTER

 

Wells
Fargo Bank, National Association

as Certificate Administrator

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

 

GS
Mortgage Securities Corporation II

200 West Street

New
York, New York 10282

Attention:
Leah Nivison

 

		Re:	Transfer
                                         of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
                                         Series 2016-GS4

 

Ladies
and Gentlemen:

 

This
letter is delivered pursuant to Section 5.03 of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division
of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer,
Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association,
as Trustee, on behalf of the holders of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 (the “Certificates”) in connection with the transfer by _________________ (the “Seller”)
to the undersigned (the “Purchaser”) of $_______________ aggregate Certificate Balance of Class ___ Certificates
(the “Certificate”). Capitalized terms used and not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Pooling and Servicing Agreement.

 

In
connection with such transfer, the Purchaser hereby represents and warrants to you and the addressees hereof as follows:

 

1.       Check
one of the following:*

 

		☐	The
                                         Purchaser is not purchasing a Class R Certificate and the Purchaser is an institution
                                         that is an “accredited investor” (an “Institutional Accredited Investor”)

 

 

 

*
Purchaser must include one of the following two certifications.

 

    Exhibit C-1 

     

    

 

		 	within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities
                                         Act of 1933, as amended (the “Securities Act”) or any entity in which
                                         all of the equity owners come within such paragraphs and has such knowledge and experience
                                         in financial and business matters as to be capable of evaluating the merits and risks
                                         of its investment in the Certificates, and the Purchaser and any accounts for which it
                                         is acting are each able to bear the economic risk of the Purchaser’s or such account’s
                                         investment. The Purchaser is acquiring the Certificates purchased by it for its own account
                                         or for one or more accounts, each of which is an Institutional Accredited Investor, as
                                         to each of which the Purchaser exercises sole investment discretion. The Purchaser hereby
                                         undertakes to reimburse the Trust Fund for any costs incurred by it in connection with
                                         this transfer.

 

		☐	The
                                         Purchaser is a “qualified institutional buyer” (a “QIB”)
                                         within the meaning of Rule 144A (“Rule 144A”) under the Securities
                                         Act. The Purchaser is aware that the transfer is being made in reliance on Rule 144A,
                                         and the Purchaser has had the opportunity to obtain the information required to be provided
                                         pursuant to paragraph (d)(4)(i) of Rule 144A.

 

2.       The
Purchaser’s intention is to acquire the Certificate (a) for investment for the Purchaser’s own account or (b) for
reoffer, resale, pledge or other transfer (i) to QIBs in transactions under Rule 144A, and not in any event with the view to,
or for resale in connection with, any distribution thereof, or (ii) (other than with respect to a Class R Certificate) to Institutional
Accredited Investors, subject in the case of clause (ii) above to (w) the receipt by the Certificate Registrar of a letter substantially
in the form hereof, (x) the receipt by the Certificate Registrar of an opinion of counsel acceptable to the Trustee and Certificate
Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act, (y) the receipt by the Certificate
Registrar of such other evidence acceptable to the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance
with the Securities Act and other applicable laws and (z) a written undertaking to reimburse the Trust Fund for any costs incurred
by it in connection with the proposed transfer. The Purchaser understands that the Certificate (and any subsequent Certificate)
has not been registered under the Securities Act, by reason of a specified exemption from the registration provisions of the Securities
Act which depends upon, among other things, the bona fide nature of the Purchaser’s investment intent (or intent to reoffer,
resell, pledge or transfer the Certificate only to certain investors in certain exempted transactions) as expressed herein.

 

3.       The
Purchaser has reviewed the Prospectus relating to the Offered Certificates (and, with respect to Non-Registered Certificates (other
than the Loan-Specific Certificates), the Offering Circular related to such Non-Registered Certificates (other than the Loan-Specific
Certificates), with respect to the AMA Plaza Loan-Specific Certificates, the Offering Circular related to such AMA Plaza Loan-Specific
Certificates, and, with respect to the 225 Bush Street Loan-Specific Certificates, the Offering Circular relating to such 225
Bush Street Loan-Specific Certificates) and the agreements and other materials referred to therein and has had the opportunity
to ask questions and receive answers concerning the terms and conditions of the transactions contemplated by the Prospectus.

 

    Exhibit C-2 

     

    

 

4.       The
Purchaser acknowledges that the Certificate (and any Certificate issued on transfer or exchange thereof) has not been registered
or qualified under the Securities Act or the securities laws of any State or any other jurisdiction, and that the Certificate
cannot be reoffered, resold, pledged or otherwise transferred unless it is registered or qualified thereunder or unless an exemption
from such registration or qualification is available.

 

5.       The
Purchaser hereby undertakes to be bound by the terms and conditions of the Pooling and Servicing Agreement in its capacity as
an owner of a Certificate or Certificates, as the case may be (each, a “Certificateholder”), in all respects
as if it were a signatory thereto. This undertaking is made for the benefit of the Trust, the Certificate Registrar and all Certificateholders
present and future.

 

6.       The
Purchaser will not sell or otherwise transfer any portion of the Certificate or Certificates, except in compliance with Section
5.03 of the Pooling and Servicing Agreement.

 

7.       Check
one of the following:**

 

		☐	The
                                         Purchaser is a U.S. Tax Person (as defined below) and it has attached hereto an Internal
                                         Revenue Service (“IRS”) Form W-9 (or successor form).

 

		☐	The
                                         Purchaser is not a U.S. Tax Person and under applicable law in effect on the date hereof,
                                         no taxes will be required to be withheld by the Certificate Registrar (or its agent)
                                         with respect to distributions to be made on the Certificate. The Purchaser has attached
                                         hereto [(i) a duly executed IRS Form W-8BEN or IRS Form W-8BEN-E (or successor form,
                                         as applicable), which identifies such Purchaser as the beneficial owner of the Certificate
                                         and states that such Purchaser is not a U.S. Tax Person, (ii) IRS Form W-8IMY (with all
                                         appropriate attachments) or (iii)]*** two duly executed copies of IRS Form
                                         W-8ECI (or successor form), which identify such Purchaser as the beneficial owner of
                                         the Certificate and state that interest and original issue discount on the Certificate
                                         and Permitted Investments is, or is expected to be, effectively connected with a U.S.
                                         trade or business. The Purchaser agrees to provide to the Certificate Registrar updated
                                         [IRS Form W-8BEN, IRS Form W-8BEN-E, IRS Form W-8IMY or]*** IRS Form W-8ECI, [as the
                                         case may be,]*** any applicable successor IRS forms, or such other certifications as
                                         the Certificate Registrar may reasonably request, on or before the date that any such
                                         IRS form or certification expires or becomes obsolete, or promptly after the occurrence
                                         of any event requiring a change in the most recent IRS form of certification furnished
                                         by it to the Certificate Registrar.

 

For
purposes of this paragraph 7, “U.S. Tax Person” means a citizen or resident of the United States, a corporation
or partnership (except to the extent provided in applicable Treasury Regulations) or other entity created or organized in, or
under the laws of, the United States, any State thereof or the District of Columbia, including any entity treated as a corporation
or

 

 

 

**
Each Purchaser must include one of the two alternative certifications.

 

***
Does not apply to a transfer of Class R Certificates.

 

    Exhibit C-3 

     

    

 

partnership for federal income tax purposes, an estate whose income is subject to United States federal income tax regardless
of its source or a trust if a court within the United States is able to exercise primary supervision over the administration of
such trust, and one or more such U.S. Tax Persons have the authority to control all substantial decisions of such trust (or, to
the extent provided in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 that have elected to be
treated as U.S. Tax Persons).

 

8.            Please
make all payments due on the Certificates:****

 

 

		☐	(a)           by
wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

 

		Bank:	 	 

		ABA#:	 	 

		Account #:	 	 

		Attention:	 	 

 

		☐	(b)         by
mailing a check or draft to the following address:

		 	 

		 	 

		 	 

 

9.            If
the Purchaser is purchasing a Class R Certificate, the Purchaser is not a partnership (including any entity treated as a partnership
for U.S. federal income tax purposes), any interest in which is owned, directly or indirectly, through one or more partnerships,
trusts or other pass-through entities by a Disqualified Non-U.S. Tax Person.

 

		Very truly yours,

 

		 
	 	[The Purchaser]

 

		By: 	
 	 
	 	 	Name:	 
	 	 	Title:	 

 

Dated:

 

 

 

****
Only to be filled out by Purchasers of Definitive Certificates. Please select (a) or (b). For holders of the Definitive
Certificates, wire transfers are only available if such holder’s Definitive Certificates have an aggregate
Certificate Balance or Notional Amount, as applicable, of at least U.S. $5,000,000.

 

    Exhibit C-4 

     

    

 

EXHIBIT
D-1

 

Form
of Transferee Affidavit

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention:
Corporate Trust Services – GS 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4 (the “Certificates”) issued pursuant to the Pooling and Servicing
                                         Agreement (the “Pooling and Servicing Agreement”), dated as of November
                                         1, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo
                                         Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as
                                         Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
                                         as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special
                                         Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations
                                         Reviewer, and Wilmington Trust, National Association, as Trustee

 

	STATE OF	)	 
	 	)	ss.:
	COUNTY OF	)	 

 

I,
[______], under penalties of perjury, declare that, to the best of my knowledge and belief, the following representations are
true, correct and complete, and being first sworn, depose and say that:

 

1.       I
am a [______] of [______] (the “Purchaser”), on behalf of which I have the authority to make this affidavit.

 

2.       The
Purchaser is acquiring Class R Certificates representing [__]% of the residual interest in each of the real estate mortgage investment
conduits (each, a “REMIC”) designated as the (i) “Lower-Tier REMIC”, (ii) “Upper-Tier
REMIC”, (iii) “AMA Plaza Trust Subordinate Companion Loan REMIC” and (iv) “225 Bush Street
Trust Subordinate Companion Loan REMIC”, respectively, relating to the Certificates for which an election is to be made
under Section 860D of the Internal Revenue Code of 1986 (the “Code”).

 

3.       The
Purchaser is not a “Disqualified Organization” (as defined below), and that the Purchaser is not acquiring
the Class R Certificates for the account of, or as agent or nominee of, or with a view to the transfer of direct or indirect record
or beneficial ownership thereof, to a Disqualified Organization. For the purposes hereof, a Disqualified Organization is any of
the following: (i) the United States, any State or political subdivision thereof, any

 

    Exhibit D-1-1 

     

    

 

possession of the United States or any agency
or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are
subject to tax and, except for Freddie Mac, a majority of its board of directors is not selected by such governmental unit), (ii)
a foreign government, any international organization or any agency or instrumentality of any of the foregoing, (iii) any organization
which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the Code on unrelated
business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect to the Class R Certificates
(except certain farmers’ cooperatives described in Section 521 of the Code), (iv) rural electric and telephone cooperatives
described in Section 1381(a)(2)(C) of the Code, (v) an “electing large partnership”, as defined in Section 775 of
the Code and (vi) any other Person so designated by the Trustee or the Certificate Administrator based upon an Opinion of Counsel
as provided to the Trustee or the Certificate Administrator (at no expense to the Trustee or the Certificate Administrator) that
the holding of an Ownership Interest in a Class R Certificate by such Person may cause any Trust REMIC to fail to qualify as a
REMIC at any time that the Certificates are outstanding or any Person having an Ownership Interest in any Class of Certificates
(other than such Person) to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but
for the Transfer of an Ownership Interest in a Class R Certificate to such Person. The terms “United States,” “State”
and “international organization” shall have the meanings set forth in Section 7701 of the Code or successor provisions.

 

4.       The
Purchaser acknowledges that Section 860E(e) of the Code would impose a substantial tax on the transferor or, in certain circumstances,
on an agent for the transferee, with respect to any transfer of any interest in any Class R Certificates to a Disqualified Organization.

 

5.       The
Purchaser is a Permitted Transferee and, to the extent applicable, the Purchaser’s U.S. taxpayer identification number is
[__________].

 

6.       No
purpose of the acquisition of the Class R Certificates is to impede the assessment or collection of tax.

 

7.       The
Purchaser will not cause income from the Class R Certificate to be attributable to a foreign permanent establishment or fixed
base, within the meaning of an applicable income tax treaty, of the Purchaser or any other person.

 

8.       Check
the applicable paragraph:

 

☐       The
present value of the anticipated tax liabilities associated with holding the Class R Certificate, as applicable, does not exceed
the sum of:

 

(i)       the
present value of any consideration given to the Purchaser to acquire such Class R Certificate;

 

(ii)       the
present value of the expected future distributions on such Class R Certificate; and

 

    Exhibit D-1-2 

     

    

 

(iii)      the
present value of the anticipated tax savings associated with holding such Class R Certificate as the related REMIC generates losses.

 

For
purposes of this calculation, (i) the Purchaser is assumed to pay tax at the highest rate currently specified in Section 11(b)
of the Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section
11(b) of the Code if the Purchaser has been subject to the alternative minimum tax under Section 55 of the Code in the preceding
two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (ii) present
values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the
month of the transfer and the compounding period used by the Purchaser.

 

☐        The
transfer of the Class R Certificate complies with U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly,

 

(i)         the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
income from the Class R Certificate will only be taxed in the United States;

 

(ii)       at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

(iii)      the
Purchaser will transfer the Class R Certificate only to another “eligible corporation,” as defined in Treasury Regulations
Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Sections 1.860E-1(c)(4)(i), (ii) and (iii) and
Treasury Regulations Section 1.860E-1(c)(5); and

 

(iv)       the
Purchaser determined the consideration paid to it to acquire the Class R Certificate based on reasonable market assumptions (including,
but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax
rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐        None
of the above.

 

9.         The
Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future and
the Purchaser intends to pay taxes associated with holding the Class R Certificates as they become due.

 

10.       The
Purchaser understands that it may incur tax liabilities with respect to the Class R Certificate in excess of any cash flows generated
by such Certificate.

 

11.       The
Purchaser is aware that the Certificate Registrar will not register any transfer of a Class R Certificate by the Transferor unless
the Purchaser, or such Purchaser’s agent, delivers to the Certificate Registrar, among other things, an affidavit and agreement
in substantially the same form as this affidavit and agreement. The Purchaser expressly agrees that

 

    Exhibit D-1-3 

     

    

 

it will not consummate any
such transfer if it knows or believes that any representation contained in such affidavit and agreement is false.

 

12.       The
Purchaser represents that it is not acquiring the Class R Certificate as a nominee, trustee or agent for any person that is not
a Permitted Transferee and that for so long as it retains its interest in the Class R Certificate, it will endeavor to remain
a Permitted Transferee.

 

13.       The
Purchaser consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute
a reasonable arrangement to ensure that the Class R Certificate will only be owned, directly or indirectly, by a Permitted Transferee.

 

14.       The
Purchaser has reviewed the provisions of Section 5.03 of the Pooling and Servicing Agreement, a description of which provisions
is set forth in the Class R Certificates; and the Purchaser expressly agrees to be bound by and to comply with such provisions.

 

15.       The
Purchaser consents to the designation of the Certificate Administrator as the agent of the “tax matters person” and
“partnership representative” of each Trust REMIC pursuant to Section 10.01 of the Pooling and Servicing Agreement.

 

Capitalized
terms used but not defined herein have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

IN
WITNESS WHEREOF, the Purchaser has caused this instrument to be duly executed on its behalf by its duly authorized officer this
___day of _________, 20__.

 

		By:	 
	 	 	Name:
	 	 	Title:

 

		By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit D-1-4 

     

    

 

On
this ____ day of _______20__, before me, the undersigned, a Notary Public in and for the State of _______________, duly commissioned
and sworn, personally appeared ______________________ and ________________________, known or proved to me to be the same persons
who executed the foregoing instrument and to be _____________________________ and ___________________________, respectively, of
the Purchaser, and acknowledged to me that they executed the same as their respective free acts and deeds and as the free act
and deed of the Purchaser.

 

		 
	 	NOTARY PUBLIC in and for the

State of _______________
	 	 
	[SEAL]	 

 

My
Commission expires:

 

	 	 

 

    Exhibit D-1-5 

     

    

 

EXHIBIT
D-2

 

FORM
OF TRANSFEROR LETTER

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention:
Corporate Trust Services – GS 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
                                         Series 2016-GS4, Class R (the “Certificates”)

 

Ladies
and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by [______] (the “Transferor”) to [______] (the
“Transferee”) of Class R Certificates evidencing a [__]% Percentage Interest in such Class (the “Residual
Certificates”). The Certificates, including the Residual Certificates, were issued pursuant to the Pooling and Servicing
Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities
Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as
Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON
USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset
Representations Reviewer, and Wilmington Trust, National Association, as Trustee. All capitalized terms used but not otherwise
defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement. The Transferor hereby certifies,
represents and warrants to you, as Certificate Registrar, that:

 

(1)       No
purpose of the Transferor relating to the transfer of the Residual Certificates by the Transferor to the Transferee is or will
be to impede the assessment or collection of any tax.

 

(2)       The
Transferor understands that the Transferee has delivered to you a Transferee Affidavit and Agreement in the form attached to the
Pooling and Servicing Agreement as Exhibit D-1. The Transferor does not know or believe that any representation contained
therein is false.

 

(3)       The
Transferor has at the time of this transfer conducted a reasonable investigation of the financial condition of the Transferee
as contemplated by Treasury regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Transferor has determined
that the Transferee has historically paid its debts as they became due and has found no significant evidence to indicate that
the Transferee will not continue to pay its debts as they become due in the future. The Transferor understands that the transfer
of the Residual Certificates may not be respected for United States income tax purposes (and the Transferor may continue to be
liable

 

    Exhibit D-2-1 

     

    

 

for United States income taxes associated therewith) unless the Transferor has conducted such an investigation.

 

	 	Very
truly yours,
	 	 	 
	 	 	(Transferor)
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

    Exhibit D-2-2 

     

    

 

EXHIBIT
E

 

FORM
OF REQUEST FOR RELEASE

(for Custodian)

 

 

	Loan
    Information
	 
	 	Name of Mortgagor:	

	 	 	 
	 	[Master Servicer]	 
	 	
        [General Special Servicer]

        [AMA Plaza Special Servicer]

[225 Bush Street Special Servicer]

        Loan No.:
	

	 	 	 
	Custodian
	 
	 	Name:	Wells Fargo Bank, National Association
	 	 	 
	 	Address:	1055 10th Avenue SE

Minneapolis, MN 55414

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4
	 	 	 
	 	Custodian/Trustee 

Mortgage File No.:	
 
	 	 	 
	Depositor
	 
	 	Name:	GS Mortgage Securities Corporation II
	 	 	 
	 	Address:	
        200 West Street

        New York, New York 10282

        Attention: Leah Nivison

	 	 	 
	 	Certificates:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

The
undersigned [Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] hereby
requests delivery from Wells Fargo Bank, National Association, as custodian (the “Custodian”) on behalf of
Wilmington Trust, National Association, as trustee (the “Trustee”), for the Holders of GS Mortgage Securities
Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, the documents referred to below (the “Documents”).
All capitalized terms not otherwise defined in this Request

 

    Exhibit E-1 

     

    

 

for Release shall have the meanings given them in the Pooling and
Servicing Agreement dated as of November 1, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo
Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services,
a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street
Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee (the “Pooling and Servicing Agreement”).

 

		(  )	 	 

 

		(  )	 	 

 

		(  )	 	 

 

		(  )	 	 

 

The
undersigned [Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] hereby
acknowledges and agrees as follows:

 

(1)       The
[Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] shall hold and retain
possession of the Documents in trust for the benefit of the Trustee, solely for the purposes provided in the Pooling and Servicing
Agreement.

 

(2)       The
[Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] shall not cause or
permit the Documents to become subject to, or encumbered by, any claims, liens, security interests, charges, writs of attachment
or other impositions nor shall the [Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] and [225 Bush Street
Special Servicer] assert or seek to assert any claims or rights of set-off to or against the Documents or any proceeds thereof
except as otherwise provided in the Pooling and Servicing Agreement.

 

(3)       The
[Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] shall return the
Documents to the Custodian when the need therefor no longer exists, unless the Mortgage Loans and the Trust Subordinate Companion
Loans have been liquidated or the Mortgage Loans and the Trust Subordinate Companion Loans have been paid in full and the proceeds
thereof have been remitted to the Collection Account except as expressly provided in the Pooling and Servicing Agreement.

 

(4)       The
Documents and any proceeds thereof, including proceeds of proceeds, coming into the possession or control of the [Master Servicer]
[General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] shall at all times be earmarked for
the account of the Trustee, and the [Master Servicer] [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street
Special Servicer] shall keep the Documents separate and distinct from

 

    Exhibit E-2 

     

    

 

all other property in the [Master Servicer’s] [General
Special Servicer’s] [AMA Plaza Special Servicer’s] [225 Bush Street Special Servicer’s] possession, custody
or control.

 

	 	[____________]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Date:
_________

 

    Exhibit E-3 

     

    

 

 

EXHIBIT
F-1

 

FORM
OF ERISA REPRESENTATION

LETTER REGARDING ERISA RESTRICTED CERTIFICATES

 

Wells
Fargo Bank, National Association,

as Certificate Administrator

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention:
Corporate Trust Services (CMBS)

GS
Mortgage Securities Trust 2016-GS4

 

GS
Mortgage Securities Corporation II

200 West Street

New
York, New York, 10282

Attention:
Leah Nivison

 

		Re:	Transfer
                                         of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
                                         Series 2016-GS4

 

Ladies
and Gentlemen:

 

The
undersigned (the “Purchaser”) proposes to purchase US$[___] aggregate [Certificate Balance][Notional Amount]
in the GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Class [E][F][G][X-225][225-D][225-E][X-AMA][AMA-D]
Certificates issued pursuant to that certain Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division
of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer,
Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association,
as Trustee. Capitalized terms used and not otherwise defined herein have the respective meanings ascribed to such terms in the
Pooling and Servicing Agreement.

 

In
connection with such transfer, the undersigned hereby represents and warrants to you as follows:

 

1.       The
Purchaser is not and will not become (a) an employee benefit plan subject to the fiduciary responsibility provisions of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Internal Revenue Code
of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA), a church plan
(as defined in Section 3(33) of ERISA) for which no election has been made under Section 410(d) of the Code, or any other plan
subject to any federal, state or local law (“Similar Law”) which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (each a “Plan”) or (b) a person acting on behalf of or using the assets of
any such Plan (within the

 

    Exhibit F-1-1 

     

    

 

meaning of Department of Labor Regulation § 2510.3-101, as modified by Section 3(42) of ERISA),
other than an insurance company using the assets of its “insurance company general account” (as such term is defined
in Section V(e) of Prohibited Transaction Class Exemption (“PTCE”) 95-60) under circumstances whereby the purchase
and holding of Certificates by such insurance company would be exempt from the prohibited transaction provisions of ERISA and
the Code under Sections I and III of PTCE 95-60 (or a Plan subject to Similar Law purchasing under circumstances that would not
constitute or result in a non-exempt violation of applicable Similar Law).

 

2.       The
Purchaser understands that if the Purchaser is or becomes a Person referred to in 1(a) or (b) above, such Purchaser is required
to provide to the Trustee and Certificate Administrator an Opinion of Counsel in form and substance satisfactory to the Trustee
and Certificate Administrator and the Depositor to the effect that the acquisition and holding of such Certificate by such purchaser
or transferee will not constitute or result in a “prohibited transaction” within the meaning of ERISA, Section 4975
of the Code or any Similar Law, and will not subject the Trustee, the Certificate Administrator, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Initial Purchasers, the Loan-Specific
Initial Purchaser, the Operating Advisor, the Asset Representations Reviewer or the Depositor to any obligation or liability (including
obligations or liabilities under ERISA, Section 4975 of the Code or any such Similar Law) in addition to those set forth in the
Pooling and Servicing Agreement, which Opinion of Counsel shall not be at the expense of the Depositor, the Master Servicer, the
General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Trustee, the Certificate Administrator,
the Operating Advisor, the Asset Representations Reviewer, the Initial Purchasers, the Loan-Specific Initial Purchaser or the
Trust Fund.

 

IN
WITNESS WHEREOF, the Purchaser hereby executes this ERISA Representation Letter on the ___ day of _____________, 20__.

 

		Very truly yours,

 

		 
	 	[The Purchaser]

 

		By:	 
	 	 	Name:
	 	 	Title:

 

Date:
_________

 

    Exhibit F-1-2 

     

    

 

 

EXHIBIT
F-2

 

Form
of ERISA Representation Letter

regarding CLASS R AND CLASS S CERTIFICATES

 

[Date]

 

Wells
Fargo Bank, National Association,

as Certificate Administrator

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

 

[Transferor]

[______]

[______]

Attention:
[______]

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4

 

Ladies
and Gentlemen:

 

The
undersigned (the “Purchaser”) proposes to purchase [__]% Percentage Interest in the GS Mortgage Securities
Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4, Class [R][S] Certificates (the “Class
[R][S] Certificate”) issued pursuant to that certain Pooling and Servicing Agreement dated as of November 1, 2016 (the
“Pooling and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland
Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225
Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and
Wilmington Trust, National Association, as Trustee. Capitalized terms used and not otherwise defined herein have the respective
meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

In
connection with such transfer, the undersigned hereby represents and warrants to you that, with respect to the Class [R][S] Certificate,
the Purchaser is not and will not become an employee benefit plan or other plan subject to the fiduciary responsibility provisions
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal
Revenue Code of 1986, as amended (the “Code”), or a governmental plan (as defined in Section 3(32) of ERISA)
or other plan that is subject to any federal, state or local law that is, to a material extent, similar to the foregoing provisions
of ERISA or the Code (“Similar Law”) (each, a “Plan”), or any person acting on behalf of
any such Plan or using the assets of a Plan (within the meaning of Department of Labor Regulation § 2510.3-101, as modified
by Section 3(42) of ERISA) to purchase such Class [R][S] Certificate.

 

    Exhibit F-2-1 

     

    

 

IN
WITNESS WHEREOF, the Purchaser hereby executes this ERISA Representation Letter on the ___ day of _____, 20__.

 

		Very truly yours,

 

	 	[The Purchaser]

 

		By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit F-2-2 

     

    

 

EXHIBIT
G

 

FORM
OF DISTRIBUTION DATE STATEMENT

See Annex B to the Prospectus

 

    Exhibit G-1 

     

    

 

EXHIBIT
H

 

SUPPLEMENTAL
SERVICER SCHEDULE

 

    Exhibit H-1 

     

    

 

 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Borrower Name	General Property Type	Original Balance ($)	Origination Date	Original Amortization Term (Mos.)	Remaining Amortization Term (Mos.)	Carve-out Guarantor	Letter of Credit
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	BCSP 330 North Wabash Property LLC	Office	$100,000,000	9/29/2016	0	0	BCSP VII Investments, L.P.	No
	2	6, 7	6Y38V8	GSMC	225 Bush Street	225 Bush Street Owners LLC	Office	$100,000,000	10/31/2016	0	0	Kylli Inc.	No
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	540 West Madison Owner LLC	Office	$75,292,000	9/7/2016	0	0	Joseph Mizrachi and David Alcalay	No
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	UB (Hannibal), LLC, UB (TA-Sacramento), LLC, UB (TA-Arvada), LLC, UB (Builders First Source), LLC, UB (TA-Pensacola), LLC, UB (TA-Tallahassee), LLC, UB (TA-Savannah), LLC, UB (Jade-Illinois), LLC, UB (Set-North Vernon), LLC, UB (MVP-Mayfield), LLC, UB (Paragon Tech), LLC, UB (Progressive Metal), LLC, UB (SET-New Boston), LLC, UB (Hover-Davis), LLC, UB (Banner Services), LLC, UB (Jade-Ohio), LLC, UB (Easley Custom Plastics), LLC, UB (MVP-Charleston), LLC, UB (TA-Corpus Christi), LLC, UB (Texas Die Casting), LLC, UB II (New WinCup-AZ), LLC, UB II (Santa Fe), LLC, UB II (Sitel), LLC, UB II (Plaid-Decatur), LLC, UB II (Plaid-Norcross), LLC, UB II (New WinCup-GA), LLC, UB II (Northwest Mailing), LLC, UB II (Ainslie), LLC, UB II (UP-166th St), LLC, UB II (UP-Armory), LLC, UB II (WFC), LLC, UB II (Lyons), LLC, UB II (MP Pumps), LLC, UB II (PTI), LLC, UB II (Microfinish), LLC, UB II (Oracle), LLC, UB II (Aramsco), LLC, UB II (Angstrom), LLC and UB II (Fitz), LLC	 	$75,000,000	9/1/2016	NAP	NAP	Michael W. Brennan, Robert G. Vanecko, Scott D. McKibben, Samuel A. Mandarino, Allen Crosswell, Tod Greenwood and Troy MacMane	No
	4.01	 	4F3745	GSMC	Hannibal	 	Industrial	 	 	 	 	 	 
	4.02	 	4F3745	GSMC	Kraco	 	Industrial	 	 	 	 	 	 
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	 	Industrial	 	 	 	 	 	 
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	 	Industrial	 	 	 	 	 	 
	4.05	 	4F3745	GSMC	SET - MI	 	Industrial	 	 	 	 	 	 
	4.06	 	4F3745	GSMC	Plaid - Decatur	 	Industrial	 	 	 	 	 	 
	4.07	 	4F3745	GSMC	Oracle Packaging	 	Industrial	 	 	 	 	 	 
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	 	Industrial	 	 	 	 	 	 
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	 	Industrial	 	 	 	 	 	 
	4.10	 	4F3745	GSMC	Northwest Mailing Service	 	Industrial	 	 	 	 	 	 
	4.11	 	4F3745	GSMC	Lyons	 	Industrial	 	 	 	 	 	 
	4.12	 	4F3745	GSMC	Wilbert Plastics	 	Industrial	 	 	 	 	 	 
	4.13	 	4F3745	GSMC	Angstrom Graphics	 	Industrial	 	 	 	 	 	 
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	 	Industrial	 	 	 	 	 	 
	4.15	 	4F3745	GSMC	Universal Pool - Armory	 	Industrial	 	 	 	 	 	 
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	 	Industrial	 	 	 	 	 	 
	4.17	 	4F3745	GSMC	Plaid - Norcross	 	Industrial	 	 	 	 	 	 
	4.18	 	4F3745	GSMC	Phillips and Temro	 	Industrial	 	 	 	 	 	 
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	 	Industrial	 	 	 	 	 	 
	4.20	 	4F3745	GSMC	Hover-Davis	 	Industrial	 	 	 	 	 	 
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	 	Industrial	 	 	 	 	 	 
	4.22	 	4F3745	GSMC	Fitz Aerospace	 	Industrial	 	 	 	 	 	 
	4.23	 	4F3745	GSMC	MVP Charleston	 	Industrial	 	 	 	 	 	 
	4.24	 	4F3745	GSMC	Paragon Tech	 	Industrial	 	 	 	 	 	 
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	 	Industrial	 	 	 	 	 	 
	4.26	 	4F3745	GSMC	Shale-Inland	 	Industrial	 	 	 	 	 	 
	4.27	 	4F3745	GSMC	M.P. Pumps	 	Industrial	 	 	 	 	 	 
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	 	Industrial	 	 	 	 	 	 
	4.29	 	4F3745	GSMC	Microfinish	 	Industrial	 	 	 	 	 	 
	4.30	 	4F3745	GSMC	MVP Mayfield	 	Industrial	 	 	 	 	 	 
	4.31	 	4F3745	GSMC	Builders FirstSource	 	Industrial	 	 	 	 	 	 
	4.32	 	4F3745	GSMC	Banner	 	Industrial	 	 	 	 	 	 
	4.33	 	4F3745	GSMC	SET - IN	 	Industrial	 	 	 	 	 	 
	4.34	 	4F3745	GSMC	Progressive Metal	 	Industrial	 	 	 	 	 	 
	4.35	 	4F3745	GSMC	Universal Pool - 166th	 	Industrial	 	 	 	 	 	 
	4.36	 	4F3745	GSMC	SITEL	 	Industrial	 	 	 	 	 	 
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	 	Industrial	 	 	 	 	 	 
	4.38	 	4F3745	GSMC	Texas Die Casting	 	Industrial	 	 	 	 	 	 
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	 	Industrial	 	 	 	 	 	 
	5	 	9067L5	GSMC	Quad at Whittier	The Quad at Whittier, LLC	Retail	$70,100,000	10/7/2016	0	0	Terramar Retail Centers, LLC	Yes
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	Prime Outlets at Pismo Beach LLC and Queenstown Outlets Limited Partnership	 	$67,000,000	9/1/2016	360	358	Simon Property Group, L.P.	No
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	 	Retail	 	 	 	 	 	 
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	 	Retail	 	 	 	 	 	 
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	701 Westchester Avenue Owner SPE LLC, 707/709 Westchester Avenue Owner SPE LLC, 711 Westchester Avenue Owner SPE LLC and 777 Westchester Avenue Owner SPE LLC	 	$56,900,000	10/28/2016	360	360	Normandy Real Estate Fund II, LP	No
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	 	Office	 	 	 	 	 	 
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	 	Office	 	 	 	 	 	 
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	 	Office	 	 	 	 	 	 
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	 	Office	 	 	 	 	 	 
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	 	Office	 	 	 	 	 	 
	8	 	651QH5	GSMC	Iron Mountain National Industrial	Iron Mountain Mortgage Finance I, LLC	 	$50,000,000	10/20/2016	0	0	NAP	No
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	 	Industrial	 	 	 	 	 	 
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	 	Industrial	 	 	 	 	 	 
	8.03	 	651QH5	GSMC	600 Burning Tree Road	 	Industrial	 	 	 	 	 	 
	8.04	 	651QH5	GSMC	1202 Avenue R	 	Industrial	 	 	 	 	 	 
	8.05	 	651QH5	GSMC	2955 South 18th Place	 	Industrial	 	 	 	 	 	 
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	 	Industrial	 	 	 	 	 	 
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	 	Industrial	 	 	 	 	 	 
	8.08	 	651QH5	GSMC	4449 South 36th Street	 	Industrial	 	 	 	 	 	 
	8.09	 	651QH5	GSMC	13425 Branch View Lane	 	Industrial	 	 	 	 	 	 
	8.1	 	651QH5	GSMC	2000 Robotics Place	 	Industrial	 	 	 	 	 	 
	8.11	 	651QH5	GSMC	1819 South Lamar Street	 	Industrial	 	 	 	 	 	 
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	 	Industrial	 	 	 	 	 	 
	8.13	 	651QH5	GSMC	1510 Capital Parkway	 	Industrial	 	 	 	 	 	 
	8.14	 	651QH5	GSMC	1905 John Connally Drive	 	Industrial	 	 	 	 	 	 
	8.15	 	651QH5	GSMC	1520 Capital Parkway	 	Industrial	 	 	 	 	 	 
	8.16	 	651QH5	GSMC	3576 North Moline Street	 	Industrial	 	 	 	 	 	 
	9	16	4W04K9	GSMC	Hamilton Place	Hamilton Place CMBS, LLC	Retail	$42,000,000	6/1/2016	360	355	CBL & Associates Limited Partnership	No
	10	 	90OMK1	GSMC	Village Square	4000 Oxford Drive Associates, LP	Retail	$39,500,000	9/30/2016	360	360	L&M Associates	No
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	M5 Dev, LLC	Hospitality	$35,000,000	10/24/2016	360	360	Mayur B. Patel	No
	12	18	9O3YF5	GSMC	Poipu Shopping Village	BG Kauai Holdings, LLC	Retail	$29,000,000	10/31/2016	360	360	Patrick L. Beach and Russell Geyser	No
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	Tucson Portland LLC	Hospitality	$27,620,000	8/5/2016	360	360	Atrium Leveraged Loan Fund, LLC	No
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	2500/2700 Westchester Avenue Owner SPE LLC	 	$27,100,000	10/28/2016	360	360	Normandy Real Estate Fund II, LP	No
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	 	Office	 	 	 	 	 	 
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	 	Office	 	 	 	 	 	 
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	GI DC Irvine LLC	Office	$25,600,000	9/7/2016	0	0	DataCore Fund L.P.	No
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	Carwood Skypark, LLC, Sunray Skypark, LLC, Slaught Skypark, LLC, Sunburst Skypark, LLC and Investec Capital Skypark LLC	Retail	$24,500,000	10/25/2016	0	0	Kenneth P. Slaught, Richard L. Ridgway, Ray Thomas, Helen A. Williams, Norman A. Slaught and Claire Slaught	No
	17	 	6YIXM7	GSMC	Center For The Medical Arts	Boinis Associates, Ltd.	Mixed Use	$22,500,000	10/28/2016	360	360	Peter P. Boinis and Peter P. Boinis, as Trustee of the Peter P. Boinis Revocable Trust u/a/d May 6, 2016	No
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	North Shore Hospitality Associates, LP and General Robinson Associates, L.P.	 	$22,000,000	2/10/2016	360	352	Shen Xiao	No
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	 	Hospitality	 	 	 	 	 	 
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	 	Hospitality	 	 	 	 	 	 
	19	 	901QO9	GSMC	David Holdings Portfolio	M. David Family Holdings KC, LLC, M. David Family Holdings Sepulveda, LLC and M. David Family Holdings San Antonio, LLC	 	$19,000,000	10/7/2016	0	0	Angie David	No
	19.01	 	901QO9	GSMC	Sprouts Culver City	 	Retail	 	 	 	 	 	 
	19.02	 	901QO9	GSMC	Walgreens San Antonio	 	Retail	 	 	 	 	 	 
	19.03	 	901QO9	GSMC	Petco Kansas City	 	Retail	 	 	 	 	 	 
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	Prince-Bush Investments Hollywood-H, LLP	Hospitality	$16,000,000	10/11/2016	360	360	Robert C. Bush and Thomas P. Prince 	No
	21	27	909PU9	GSMC	Hyatt Place Princeton	Carnegie HP Owner LLC	Hospitality	$14,000,000	9/21/2016	360	359	Alan Landis	No
	22	 	6YSZU5	GSMC	Michaels Distribution Center	Mike Jacksonville FL, LLC	Industrial	$11,300,000	10/13/2016	0	0	Milestone Properties, LLC	No
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	Rath Wisc LLC and Sealax, LLC	Industrial	$9,500,000	10/6/2016	360	360	George Hicker, Robert Wenrich and Gordon M. Mapes	No
	24	28	905W88	GSMC	Bellevue Town Center	MO Bellevue, LLC	Retail	$9,425,000	9/30/2016	360	360	John I. Silverman	No
	25	29	901PT9	GSMC	Crossroads Shopping Center	Crossroads West Associates Limited Partnership	Retail	$8,800,000	10/20/2016	360	360	David L. Johnson	No
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	BTO Properties, LLC, BRO Properties, LLC and Louise Marie Properties, LLC	Self Storage	$8,700,000	9/30/2016	360	359	Brian T. O’Neill, Blake R. O’Neill, Shannon L. Stubblefield	No
	27	 	6YH672	GSMC	Republic Place	555 Republic LLC	Office	$8,400,000	10/24/2016	360	360	John Timothy Campbell, Kimberly Lim Marcelis and Anthony Lim	No
	28	 	90NYN4	GSMC	3507 Ringsby Court	Freight on the River LLC	Office	$6,860,000	9/28/2016	360	360	Kyle Zeppelin, Morton Zeppelin, Douglas Decker and Timothy White	No
	29	 	6YGIR7	GSMC	Wesco International	Wesco Mad LLC and Otto3 LLC	Industrial	$6,850,000	10/6/2016	360	360	George Hicker, Robert Wenrich and Gordon M. Mapes	Yes
	30	 	6Y9LV0	GSMC	Sabre Springs	Sabre Springs Marketplace, L.P.	Retail	$6,700,000	10/24/2016	0	0	John C. Collins	No
	31	 	6YHH05	GSMC	Airport Village	Airport Village, LP	Retail	$6,500,000	10/20/2016	360	360	Mike M. Nassimi	No
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	Therma Howe LLC and Big Brother LLC	Industrial	$3,525,000	10/14/2016	360	360	George Hicker, Robert Wenrich and Gordon M. Mapes	No
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	DFP Partners LLC	Retail	$2,650,000	9/1/2016	300	298	Ronald B. Russ, Jeffrey S. Gould	No

 

    

     

    
 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Upfront RE Tax Reserve ($)	Ongoing RE Tax Reserve ($)	Upfront Insurance Reserve ($)	Ongoing Insurance Reserve ($)	Upfront Replacement Reserve ($)	Ongoing Replacement Reserve ($)	Replacement Reserve Caps ($)	Upfront TI/LC Reserve ($)
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	$0	$0	$0	$0	$0	$0	$0	$0
	2	6, 7	6Y38V8	GSMC	225 Bush Street	$2,208,429	$162,477	$109,121	$15,589	$0	$11,987	$0	$0
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	$1,243,392	$888,137	$356,002	$32,364	$0	$0	$0	$0
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	$0	$0	$0	$0	$1,259,746	$0	$1,259,746	$3,000,000
	4.01	 	4F3745	GSMC	Hannibal	 	 	 	 	 	 	 	 
	4.02	 	4F3745	GSMC	Kraco	 	 	 	 	 	 	 	 
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	 	 	 	 	 	 	 	 
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	 	 	 	 	 	 	 	 
	4.05	 	4F3745	GSMC	SET - MI	 	 	 	 	 	 	 	 
	4.06	 	4F3745	GSMC	Plaid - Decatur	 	 	 	 	 	 	 	 
	4.07	 	4F3745	GSMC	Oracle Packaging	 	 	 	 	 	 	 	 
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	 	 	 	 	 	 	 	 
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	 	 	 	 	 	 	 	 
	4.10	 	4F3745	GSMC	Northwest Mailing Service	 	 	 	 	 	 	 	 
	4.11	 	4F3745	GSMC	Lyons	 	 	 	 	 	 	 	 
	4.12	 	4F3745	GSMC	Wilbert Plastics	 	 	 	 	 	 	 	 
	4.13	 	4F3745	GSMC	Angstrom Graphics	 	 	 	 	 	 	 	 
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	 	 	 	 	 	 	 	 
	4.15	 	4F3745	GSMC	Universal Pool - Armory	 	 	 	 	 	 	 	 
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	 	 	 	 	 	 	 	 
	4.17	 	4F3745	GSMC	Plaid - Norcross	 	 	 	 	 	 	 	 
	4.18	 	4F3745	GSMC	Phillips and Temro	 	 	 	 	 	 	 	 
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	 	 	 	 	 	 	 	 
	4.20	 	4F3745	GSMC	Hover-Davis	 	 	 	 	 	 	 	 
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	 	 	 	 	 	 	 	 
	4.22	 	4F3745	GSMC	Fitz Aerospace	 	 	 	 	 	 	 	 
	4.23	 	4F3745	GSMC	MVP Charleston	 	 	 	 	 	 	 	 
	4.24	 	4F3745	GSMC	Paragon Tech	 	 	 	 	 	 	 	 
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	 	 	 	 	 	 	 	 
	4.26	 	4F3745	GSMC	Shale-Inland	 	 	 	 	 	 	 	 
	4.27	 	4F3745	GSMC	M.P. Pumps	 	 	 	 	 	 	 	 
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	 	 	 	 	 	 	 	 
	4.29	 	4F3745	GSMC	Microfinish	 	 	 	 	 	 	 	 
	4.30	 	4F3745	GSMC	MVP Mayfield	 	 	 	 	 	 	 	 
	4.31	 	4F3745	GSMC	Builders FirstSource	 	 	 	 	 	 	 	 
	4.32	 	4F3745	GSMC	Banner	 	 	 	 	 	 	 	 
	4.33	 	4F3745	GSMC	SET - IN	 	 	 	 	 	 	 	 
	4.34	 	4F3745	GSMC	Progressive Metal	 	 	 	 	 	 	 	 
	4.35	 	4F3745	GSMC	Universal Pool - 166th	 	 	 	 	 	 	 	 
	4.36	 	4F3745	GSMC	SITEL	 	 	 	 	 	 	 	 
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	 	 	 	 	 	 	 	 
	4.38	 	4F3745	GSMC	Texas Die Casting	 	 	 	 	 	 	 	 
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	 	 	 	 	 	 	 	 
	5	 	9067L5	GSMC	Quad at Whittier	$0	$0	$0	$0	$0	$0	$0	$0
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	$0	$0	$0	$0	$0	$0	$0	$0
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	 	 	 	 	 	 	 	 
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	 	 	 	 	 	 	 	 
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	$541,000	$335,796	$0	$0	$0	$19,820	$0	$0
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	 	 	 	 	 	 	 	 
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	 	 	 	 	 	 	 	 
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	 	 	 	 	 	 	 	 
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	 	 	 	 	 	 	 	 
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	 	 	 	 	 	 	 	 
	8	 	651QH5	GSMC	Iron Mountain National Industrial	$0	$0	$0	$0	$0	$0	$0	$0
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	 	 	 	 	 	 	 	 
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	 	 	 	 	 	 	 	 
	8.03	 	651QH5	GSMC	600 Burning Tree Road	 	 	 	 	 	 	 	 
	8.04	 	651QH5	GSMC	1202 Avenue R	 	 	 	 	 	 	 	 
	8.05	 	651QH5	GSMC	2955 South 18th Place	 	 	 	 	 	 	 	 
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	 	 	 	 	 	 	 	 
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	 	 	 	 	 	 	 	 
	8.08	 	651QH5	GSMC	4449 South 36th Street	 	 	 	 	 	 	 	 
	8.09	 	651QH5	GSMC	13425 Branch View Lane	 	 	 	 	 	 	 	 
	8.1	 	651QH5	GSMC	2000 Robotics Place	 	 	 	 	 	 	 	 
	8.11	 	651QH5	GSMC	1819 South Lamar Street	 	 	 	 	 	 	 	 
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	 	 	 	 	 	 	 	 
	8.13	 	651QH5	GSMC	1510 Capital Parkway	 	 	 	 	 	 	 	 
	8.14	 	651QH5	GSMC	1905 John Connally Drive	 	 	 	 	 	 	 	 
	8.15	 	651QH5	GSMC	1520 Capital Parkway	 	 	 	 	 	 	 	 
	8.16	 	651QH5	GSMC	3576 North Moline Street	 	 	 	 	 	 	 	 
	9	16	4W04K9	GSMC	Hamilton Place	$1,130,254	$226,051	$0	$0	$0	$13,686	$328,474	$0
	10	 	90OMK1	GSMC	Village Square	$119,272	$119,272	$0	$0	$0	$6,548	$250,000	$360,000
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	$176,060	$37,552	$0	$0	$0	$35,278	$0	$0
	12	18	9O3YF5	GSMC	Poipu Shopping Village	$61,932	$9,113	$17,515	$8,758	$26,657	$702	$0	$0
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	$389,616	$43,291	$0	$0	$0	$26,056	$0	$0
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	$229,000	$68,834	$0	$0	$0	$6,062	$0	$0
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	 	 	 	 	 	 	 	 
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	 	 	 	 	 	 	 	 
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	$0	$0	$0	$0	$0	$0	$0	$0
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	$110,937	$19,140	$0	$0	$0	$3,109	$0	$0
	17	 	6YIXM7	GSMC	Center For The Medical Arts	$0	$15,728	$48,365	$8,061	$0	$1,746	$0	$0
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	$0	$76,003	$0	$0	$0	$63,396	$0	$0
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 
	19	 	901QO9	GSMC	David Holdings Portfolio	$0	$0	$0	$0	$0	$0	$0	$0
	19.01	 	901QO9	GSMC	Sprouts Culver City	 	 	 	 	 	 	 	 
	19.02	 	901QO9	GSMC	Walgreens San Antonio	 	 	 	 	 	 	 	 
	19.03	 	901QO9	GSMC	Petco Kansas City	 	 	 	 	 	 	 	 
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	$307,776	$21,373	$0	$0	$0	$21,345	$0	$0
	21	27	909PU9	GSMC	Hyatt Place Princeton	$23,147	$23,147	$10,474	$5,237	$0	$17,054	$0	$0
	22	 	6YSZU5	GSMC	Michaels Distribution Center	$0	$0	$2,234	$372	$0	$0	$0	$0
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	$0	$0	$0	$0	$0	$0	$0	$0
	24	28	905W88	GSMC	Bellevue Town Center	$46,419	$11,605	$0	$0	$100,000	$0	$45,000	$200,000
	25	29	901PT9	GSMC	Crossroads Shopping Center	$117,071	$9,756	$8,154	$3,571	$0	$1,664	$0	$250,000
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	$3,933	$3,933	$0	$0	$0	$1,158	$41,620	$0
	27	 	6YH672	GSMC	Republic Place	$0	$11,806	$4,974	$2,487	$0	$1,713	$0	$200,000
	28	 	90NYN4	GSMC	3507 Ringsby Court	$73,359	$14,907	$0	$0	$0	$1,055	$0	$0
	29	 	6YGIR7	GSMC	Wesco International	$0	$0	$0	$0	$0	$0	$0	$0
	30	 	6Y9LV0	GSMC	Sabre Springs	$0	$0	$0	$0	$0	$0	$0	$0
	31	 	6YHH05	GSMC	Airport Village	$17,041	$8,520	$0	$0	$0	$1,176	$0	$0
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	$3,425	$3,425	$0	$0	$0	$0	$0	$0
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	$0	$0	$0	$0	$0	$554	$0	$0

 

    

     

    

 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Ongoing TI/LC Reserve ($)	TI/LC Caps ($)	Upfront Debt Service Reserve ($)	Ongoing Debt Service Reserve ($)	Upfront Deferred Maintenance Reserve ($)	Ongoing Deferred Maintenance Reserve ($)	Upfront Environmental Reserve ($)	Ongoing Environmental Reserve ($)
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	$0	$0	$0	$0	$0	$0	$0	$0
	2	6, 7	6Y38V8	GSMC	225 Bush Street	$95,894	$0	$0	$0	$0	$0	$0	$0
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	$0	$0	$0	$0	$0	$0	$0	$0
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	$0	$4,500,000	$0	$0	$0	$0	$0	$0
	4.01	 	4F3745	GSMC	Hannibal	 	 	 	 	 	 	 	 
	4.02	 	4F3745	GSMC	Kraco	 	 	 	 	 	 	 	 
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	 	 	 	 	 	 	 	 
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	 	 	 	 	 	 	 	 
	4.05	 	4F3745	GSMC	SET - MI	 	 	 	 	 	 	 	 
	4.06	 	4F3745	GSMC	Plaid - Decatur	 	 	 	 	 	 	 	 
	4.07	 	4F3745	GSMC	Oracle Packaging	 	 	 	 	 	 	 	 
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	 	 	 	 	 	 	 	 
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	 	 	 	 	 	 	 	 
	4.10	 	4F3745	GSMC	Northwest Mailing Service	 	 	 	 	 	 	 	 
	4.11	 	4F3745	GSMC	Lyons	 	 	 	 	 	 	 	 
	4.12	 	4F3745	GSMC	Wilbert Plastics	 	 	 	 	 	 	 	 
	4.13	 	4F3745	GSMC	Angstrom Graphics	 	 	 	 	 	 	 	 
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	 	 	 	 	 	 	 	 
	4.15	 	4F3745	GSMC	Universal Pool - Armory	 	 	 	 	 	 	 	 
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	 	 	 	 	 	 	 	 
	4.17	 	4F3745	GSMC	Plaid - Norcross	 	 	 	 	 	 	 	 
	4.18	 	4F3745	GSMC	Phillips and Temro	 	 	 	 	 	 	 	 
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	 	 	 	 	 	 	 	 
	4.20	 	4F3745	GSMC	Hover-Davis	 	 	 	 	 	 	 	 
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	 	 	 	 	 	 	 	 
	4.22	 	4F3745	GSMC	Fitz Aerospace	 	 	 	 	 	 	 	 
	4.23	 	4F3745	GSMC	MVP Charleston	 	 	 	 	 	 	 	 
	4.24	 	4F3745	GSMC	Paragon Tech	 	 	 	 	 	 	 	 
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	 	 	 	 	 	 	 	 
	4.26	 	4F3745	GSMC	Shale-Inland	 	 	 	 	 	 	 	 
	4.27	 	4F3745	GSMC	M.P. Pumps	 	 	 	 	 	 	 	 
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	 	 	 	 	 	 	 	 
	4.29	 	4F3745	GSMC	Microfinish	 	 	 	 	 	 	 	 
	4.30	 	4F3745	GSMC	MVP Mayfield	 	 	 	 	 	 	 	 
	4.31	 	4F3745	GSMC	Builders FirstSource	 	 	 	 	 	 	 	 
	4.32	 	4F3745	GSMC	Banner	 	 	 	 	 	 	 	 
	4.33	 	4F3745	GSMC	SET - IN	 	 	 	 	 	 	 	 
	4.34	 	4F3745	GSMC	Progressive Metal	 	 	 	 	 	 	 	 
	4.35	 	4F3745	GSMC	Universal Pool - 166th	 	 	 	 	 	 	 	 
	4.36	 	4F3745	GSMC	SITEL	 	 	 	 	 	 	 	 
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	 	 	 	 	 	 	 	 
	4.38	 	4F3745	GSMC	Texas Die Casting	 	 	 	 	 	 	 	 
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	 	 	 	 	 	 	 	 
	5	 	9067L5	GSMC	Quad at Whittier	$0	$0	$0	$0	$363,000	$0	$0	$0
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	$0	$0	$0	$0	$0	$0	$0	$0
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	 	 	 	 	 	 	 	 
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	 	 	 	 	 	 	 	 
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	$110,110	$2,642,636	$0	$0	$0	$0	$0	$0
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	 	 	 	 	 	 	 	 
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	 	 	 	 	 	 	 	 
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	 	 	 	 	 	 	 	 
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	 	 	 	 	 	 	 	 
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	 	 	 	 	 	 	 	 
	8	 	651QH5	GSMC	Iron Mountain National Industrial	$0	$0	$0	$0	$0	$0	$0	$0
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	 	 	 	 	 	 	 	 
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	 	 	 	 	 	 	 	 
	8.03	 	651QH5	GSMC	600 Burning Tree Road	 	 	 	 	 	 	 	 
	8.04	 	651QH5	GSMC	1202 Avenue R	 	 	 	 	 	 	 	 
	8.05	 	651QH5	GSMC	2955 South 18th Place	 	 	 	 	 	 	 	 
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	 	 	 	 	 	 	 	 
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	 	 	 	 	 	 	 	 
	8.08	 	651QH5	GSMC	4449 South 36th Street	 	 	 	 	 	 	 	 
	8.09	 	651QH5	GSMC	13425 Branch View Lane	 	 	 	 	 	 	 	 
	8.1	 	651QH5	GSMC	2000 Robotics Place	 	 	 	 	 	 	 	 
	8.11	 	651QH5	GSMC	1819 South Lamar Street	 	 	 	 	 	 	 	 
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	 	 	 	 	 	 	 	 
	8.13	 	651QH5	GSMC	1510 Capital Parkway	 	 	 	 	 	 	 	 
	8.14	 	651QH5	GSMC	1905 John Connally Drive	 	 	 	 	 	 	 	 
	8.15	 	651QH5	GSMC	1520 Capital Parkway	 	 	 	 	 	 	 	 
	8.16	 	651QH5	GSMC	3576 North Moline Street	 	 	 	 	 	 	 	 
	9	16	4W04K9	GSMC	Hamilton Place	$32,587	$782,082	$0	$0	$0	$0	$0	$0
	10	 	90OMK1	GSMC	Village Square	$24,553	$900,000	$0	$0	$0	$0	$0	$0
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	$0	$0	$0	$0	$0	$0	$0	$0
	12	18	9O3YF5	GSMC	Poipu Shopping Village	$5,261	$315,675	$0	$0	$47,100	$0	$0	$0
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	$0	$0	$0	$0	$0	$0	$0	$0
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	$48,494	$1,163,856	$0	$0	$0	$0	$0	$0
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	 	 	 	 	 	 	 	 
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	 	 	 	 	 	 	 	 
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	$0	$0	$0	$0	$0	$0	$0	$0
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	$10,417	$375,000	$0	$0	$0	$0	$0	$0
	17	 	6YIXM7	GSMC	Center For The Medical Arts	$7,934	$380,836	$0	$0	$0	$0	$0	$0
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	$0	$0	$0	$0	$0	$0	$0	$0
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	 	 	 	 	 	 	 	 
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	 	 	 	 	 	 	 	 
	19	 	901QO9	GSMC	David Holdings Portfolio	$0	$0	$0	$0	$0	$0	$0	$0
	19.01	 	901QO9	GSMC	Sprouts Culver City	 	 	 	 	 	 	 	 
	19.02	 	901QO9	GSMC	Walgreens San Antonio	 	 	 	 	 	 	 	 
	19.03	 	901QO9	GSMC	Petco Kansas City	 	 	 	 	 	 	 	 
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	$0	$0	$0	$0	$0	$0	$0	$0
	21	27	909PU9	GSMC	Hyatt Place Princeton	$0	$0	$0	$0	$0	$0	$0	$0
	22	 	6YSZU5	GSMC	Michaels Distribution Center	$0	$0	$0	$0	$0	$0	$0	$0
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	$0	$0	$0	$0	$0	$0	$0	$0
	24	28	905W88	GSMC	Bellevue Town Center	$0	$200,000	$0	$0	$0	$0	$0	$0
	25	29	901PT9	GSMC	Crossroads Shopping Center	$0	$200,000	$0	$0	$28,105	$0	$0	$0
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	$0	$0	$0	$0	$104,885	$0	$0	$0
	27	 	6YH672	GSMC	Republic Place	$8,157	$391,556	$0	$0	$121,781	$0	$0	$0
	28	 	90NYN4	GSMC	3507 Ringsby Court	$3,598	$129,515	$0	$0	$0	$0	$0	$0
	29	 	6YGIR7	GSMC	Wesco International	$0	$0	$0	$0	$0	$0	$0	$0
	30	 	6Y9LV0	GSMC	Sabre Springs	$0	$0	$0	$0	$0	$0	$0	$0
	31	 	6YHH05	GSMC	Airport Village	$2,939	$70,531	$0	$0	$0	$0	$0	$0
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	$0	$0	$0	$0	$0	$0	$0	$0
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	$0	$0	$0	$0	$0	$0	$0	$0

 

    

     

    

 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	 	 	 	 	 	 	 	 	 	 	 	Environmental
                                         Insurance Required (Y/N)

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Upfront Other Reserve ($)	Ongoing Other Reserve ($)	Other Reserve Description	Grace Period- Default	Grace Period- Late Fee	Residual Value Insurance 	Lease Enhancement Insurance 	Environmental Insurance 	O&M Required 
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	$5,954,009	$0	Unfunded Obligations Reserve	0	0	No	No	No	None
	2	6, 7	6Y38V8	GSMC	225 Bush Street	$0	$0	 	0	0	No	No	No	Asbestos
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	$40,566,832	$0	Unfunded Obligations Reserve ($23,258,542), Free Rent Reserve ($17,308,290)	0	0	No	No	No	None
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	$5,816,966	$0	Plaid Expansion Construction Reserve	0	3	No	No	Various	 
	4.01	 	4F3745	GSMC	Hannibal	 	 	 	 	 	No	No	Yes	Asbestos
	4.02	 	4F3745	GSMC	Kraco	 	 	 	 	 	No	No	No	Asbestos
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	 	 	 	 	 	No	No	No	None
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	 	 	 	 	 	No	No	Yes	Asbestos
	4.05	 	4F3745	GSMC	SET - MI	 	 	 	 	 	No	No	No	None
	4.06	 	4F3745	GSMC	Plaid - Decatur	 	 	 	 	 	No	No	No	Asbestos
	4.07	 	4F3745	GSMC	Oracle Packaging	 	 	 	 	 	No	No	No	Asbestos
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	 	 	 	 	 	No	No	No	None
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	 	 	 	 	 	No	No	No	None
	4.10	 	4F3745	GSMC	Northwest Mailing Service	 	 	 	 	 	No	No	Yes	Asbestos
	4.11	 	4F3745	GSMC	Lyons	 	 	 	 	 	No	No	Yes	Asbestos
	4.12	 	4F3745	GSMC	Wilbert Plastics	 	 	 	 	 	No	No	No	Asbestos
	4.13	 	4F3745	GSMC	Angstrom Graphics	 	 	 	 	 	No	No	Yes	Asbestos
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	 	 	 	 	 	No	No	No	Asbestos
	4.15	 	4F3745	GSMC	Universal Pool - Armory	 	 	 	 	 	No	No	No	Asbestos
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	 	 	 	 	 	No	No	No	Asbestos
	4.17	 	4F3745	GSMC	Plaid - Norcross	 	 	 	 	 	No	No	No	None
	4.18	 	4F3745	GSMC	Phillips and Temro	 	 	 	 	 	No	No	No	Asbestos
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	 	 	 	 	 	No	No	No	Asbestos
	4.20	 	4F3745	GSMC	Hover-Davis	 	 	 	 	 	No	No	No	None
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	 	 	 	 	 	No	No	No	Asbestos
	4.22	 	4F3745	GSMC	Fitz Aerospace	 	 	 	 	 	No	No	No	Asbestos
	4.23	 	4F3745	GSMC	MVP Charleston	 	 	 	 	 	No	No	No	None
	4.24	 	4F3745	GSMC	Paragon Tech	 	 	 	 	 	No	No	No	Asbestos
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	 	 	 	 	 	No	No	No	Asbestos
	4.26	 	4F3745	GSMC	Shale-Inland	 	 	 	 	 	No	No	No	Asbestos
	4.27	 	4F3745	GSMC	M.P. Pumps	 	 	 	 	 	No	No	No	None
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	 	 	 	 	 	No	No	No	None
	4.29	 	4F3745	GSMC	Microfinish	 	 	 	 	 	No	No	No	Asbestos
	4.30	 	4F3745	GSMC	MVP Mayfield	 	 	 	 	 	No	No	No	None
	4.31	 	4F3745	GSMC	Builders FirstSource	 	 	 	 	 	No	No	No	Asbestos
	4.32	 	4F3745	GSMC	Banner	 	 	 	 	 	No	No	No	None
	4.33	 	4F3745	GSMC	SET - IN	 	 	 	 	 	No	No	No	Asbestos
	4.34	 	4F3745	GSMC	Progressive Metal	 	 	 	 	 	No	No	No	Asbestos
	4.35	 	4F3745	GSMC	Universal Pool - 166th	 	 	 	 	 	No	No	Yes	Asbestos
	4.36	 	4F3745	GSMC	SITEL	 	 	 	 	 	No	No	No	Asbestos
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	 	 	 	 	 	No	No	No	None
	4.38	 	4F3745	GSMC	Texas Die Casting	 	 	 	 	 	No	No	No	None
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	 	 	 	 	 	No	No	No	None
	5	 	9067L5	GSMC	Quad at Whittier	$4,507,426	$0	Michael’s Reserve ($3,720,000), Marshalls Reserve ($187,034.27), Unfunded Obligations Reserve ($600,392)	0	5 days grace, one time during the term of the loan, other than the payment due on the Maturity Date	No	No	No	None
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	$0	$0	 	0	0	No	No	No	 
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	 	 	 	 	 	No	No	No	None
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	 	 	 	 	 	No	No	No	None
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	$5,885,391	$0	Unfunded Obligations Reserve ($4,788,965.18), Free Rent Reserve ($1,096,426)	0	0	No	No	No	 
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	 	 	 	 	 	No	No	No	Asbestos
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	 	 	 	 	 	No	No	No	Asbestos
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	 	 	 	 	 	No	No	No	Asbestos
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	 	 	 	 	 	No	No	No	Asbestos
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	 	 	 	 	 	No	No	No	Asbestos
	8	 	651QH5	GSMC	Iron Mountain National Industrial	$0	$0	 	0	0	No	No	Various	 
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	 	 	 	 	 	No	No	No	Asbestos
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	 	 	 	 	 	No	No	No	None
	8.03	 	651QH5	GSMC	600 Burning Tree Road	 	 	 	 	 	No	No	No	None
	8.04	 	651QH5	GSMC	1202 Avenue R	 	 	 	 	 	No	No	No	Asbestos
	8.05	 	651QH5	GSMC	2955 South 18th Place	 	 	 	 	 	No	No	No	None
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	 	 	 	 	 	No	No	No	None
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	 	 	 	 	 	No	No	No	None
	8.08	 	651QH5	GSMC	4449 South 36th Street	 	 	 	 	 	No	No	Yes	None
	8.09	 	651QH5	GSMC	13425 Branch View Lane	 	 	 	 	 	No	No	No	Asbestos, Lead Based Paint
	8.1	 	651QH5	GSMC	2000 Robotics Place	 	 	 	 	 	No	No	No	None
	8.11	 	651QH5	GSMC	1819 South Lamar Street	 	 	 	 	 	No	No	Yes	None
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	 	 	 	 	 	No	No	No	None
	8.13	 	651QH5	GSMC	1510 Capital Parkway	 	 	 	 	 	No	No	No	None
	8.14	 	651QH5	GSMC	1905 John Connally Drive	 	 	 	 	 	No	No	No	Asbestos
	8.15	 	651QH5	GSMC	1520 Capital Parkway	 	 	 	 	 	No	No	No	None
	8.16	 	651QH5	GSMC	3576 North Moline Street	 	 	 	 	 	No	No	No	Asbestos
	9	16	4W04K9	GSMC	Hamilton Place	$0	$0	 	0	0	No	No	No	None
	10	 	90OMK1	GSMC	Village Square	$0	$0	 	0	0	No	No	No	None
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	$0	$0	 	0	0	No	No	No	None
	12	18	9O3YF5	GSMC	Poipu Shopping Village	$56,314	$56,314	Ground Lease Reserve	0	0	No	No	No	None
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	$62,500	$275,000	Ground Lease Reserve ($62,500), Monthly PIP Work Reserve ($275,000)	0	0	No	No	No	None
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	$1,017,561	$0	Unfunded Obligations Reserve ($940,902.77), Free Rent Reserve ($76,658)	0	0	No	No	No	 
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	 	 	 	 	 	No	No	No	None
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	 	 	 	 	 	No	No	No	None
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	$2,752,845	$0	Unfunded General Contractor Obligation Reserve ($1,571,278.44), Free Rent Reserve ($849,965.03), Outstanding TI/LC Reserve ($331,601.61)	0	0	No	No	No	Asbestos
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	$8,985	$0	Unfunded Obligations Reserve	0	0	No	No	No	None
	17	 	6YIXM7	GSMC	Center For The Medical Arts	$10,000	$0	Unfunded Obligations Reserve	0	0	No	No	No	None
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	$4,180,000	$0	PIP Reserve ($2,140,000 SpringHill Suites, $2,040,000 Residence Inn)	0	0	No	No	No	 
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	 	 	 	 	 	No	No	No	None
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	 	 	 	 	 	No	No	No	None
	19	 	901QO9	GSMC	David Holdings Portfolio	$0	$0	 	0	0	No	No	No	 
	19.01	 	901QO9	GSMC	Sprouts Culver City	 	 	 	 	 	No	No	No	None
	19.02	 	901QO9	GSMC	Walgreens San Antonio	 	 	 	 	 	No	No	No	None
	19.03	 	901QO9	GSMC	Petco Kansas City	 	 	 	 	 	No	No	No	None
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	$2,506,574	$0	PIP Reserve ($951,099.76), Façade Reserve ($1,555,474.08)	0	0	No	No	No	None
	21	27	909PU9	GSMC	Hyatt Place Princeton	$530,270	$0	PIP Reserve	0	0	No	No	No	None
	22	 	6YSZU5	GSMC	Michaels Distribution Center	$0	$0	 	0	0	No	No	No	None
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	$0	$0	 	0	0	No	No	No	None
	24	28	905W88	GSMC	Bellevue Town Center	$0	$0	 	0	0	No	No	No 	None
	25	29	901PT9	GSMC	Crossroads Shopping Center	$153,990	$0	Unfunded Obligations Reserve ($100,000), Big Bob’s Reserve ($53,989.86)	0	0	No	No	No	None
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	$0	$0	 	0	0	No	No	No	None
	27	 	6YH672	GSMC	Republic Place	$545,893	$0	Elevator Reserve ($500,000), Unfunded Obligations ($45,893)	0	0	No	No	No	None
	28	 	90NYN4	GSMC	3507 Ringsby Court	$0	$0	 	0	0	No	No	No	Asbestos, Lead Based Paint
	29	 	6YGIR7	GSMC	Wesco International	$0	$0	 	0	0	No	No	No	Asbestos
	30	 	6Y9LV0	GSMC	Sabre Springs	$30,000	$0	Unfunded Obligations Reserve	0	0	No	No	No	None
	31	 	6YHH05	GSMC	Airport Village	$0	$0	 	0	0	No	No	No	None
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	$745,714	$0	Unfunded Obligations Account	0	0	No	No	No	None
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	$0	$0	 	0	0	No	No	No	None

 

    

     

    

 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Cash Management	Lockbox	 Rooms, Sq Ft 	Unit Description	Monthly Debt Service ($) (1)	Interest Accrual Method	Administrative Cost Rate (%) (2)
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	Springing	Hard	                               1,119,503 	SF	$220,804	Actual/360	0.01335%
	2	6, 7	6Y38V8	GSMC	225 Bush Street	In Place	Hard	                                  575,363 	SF	$310,856	Actual/360	0.01335%
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	In Place	Hard	                               1,098,633 	SF	$205,259	Actual/360	0.01335%
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	Springing	Hard	                               6,298,728 	SF	$281,529	Actual/360	0.01335%
	4.01	 	4F3745	GSMC	Hannibal	 	 	                                  429,122 	SF	 	 	 
	4.02	 	4F3745	GSMC	Kraco	 	 	                                  364,440 	SF	 	 	 
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	 	 	                                  322,070 	SF	 	 	 
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	 	 	                                  434,252 	SF	 	 	 
	4.05	 	4F3745	GSMC	SET - MI	 	 	                                  284,351 	SF	 	 	 
	4.06	 	4F3745	GSMC	Plaid - Decatur	 	 	                                  282,514 	SF	 	 	 
	4.07	 	4F3745	GSMC	Oracle Packaging	 	 	                                  437,911 	SF	 	 	 
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	 	 	                                    66,203 	SF	 	 	 
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	 	 	                                    57,966 	SF	 	 	 
	4.10	 	4F3745	GSMC	Northwest Mailing Service	 	 	                                  228,032 	SF	 	 	 
	4.11	 	4F3745	GSMC	Lyons	 	 	                                  172,758 	SF	 	 	 
	4.12	 	4F3745	GSMC	Wilbert Plastics	 	 	                                  257,086 	SF	 	 	 
	4.13	 	4F3745	GSMC	Angstrom Graphics	 	 	                                  231,505 	SF	 	 	 
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	 	 	                                  220,380 	SF	 	 	 
	4.15	 	4F3745	GSMC	Universal Pool - Armory	 	 	                                  240,255 	SF	 	 	 
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	 	 	                                  215,389 	SF	 	 	 
	4.17	 	4F3745	GSMC	Plaid - Norcross	 	 	                                    71,620 	SF	 	 	 
	4.18	 	4F3745	GSMC	Phillips and Temro	 	 	                                  101,680 	SF	 	 	 
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	 	 	                                    54,284 	SF	 	 	 
	4.20	 	4F3745	GSMC	Hover-Davis	 	 	                                    66,100 	SF	 	 	 
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	 	 	                                  174,511 	SF	 	 	 
	4.22	 	4F3745	GSMC	Fitz Aerospace	 	 	                                  129,000 	SF	 	 	 
	4.23	 	4F3745	GSMC	MVP Charleston	 	 	                                  108,000 	SF	 	 	 
	4.24	 	4F3745	GSMC	Paragon Tech	 	 	                                    88,857 	SF	 	 	 
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	 	 	                                    99,783 	SF	 	 	 
	4.26	 	4F3745	GSMC	Shale-Inland	 	 	                                  193,789 	SF	 	 	 
	4.27	 	4F3745	GSMC	M.P. Pumps	 	 	                                    81,769 	SF	 	 	 
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	 	 	                                    21,911 	SF	 	 	 
	4.29	 	4F3745	GSMC	Microfinish	 	 	                                  144,786 	SF	 	 	 
	4.30	 	4F3745	GSMC	MVP Mayfield	 	 	                                  101,244 	SF	 	 	 
	4.31	 	4F3745	GSMC	Builders FirstSource	 	 	                                  116,897 	SF	 	 	 
	4.32	 	4F3745	GSMC	Banner	 	 	                                    58,450 	SF	 	 	 
	4.33	 	4F3745	GSMC	SET - IN	 	 	                                  117,376 	SF	 	 	 
	4.34	 	4F3745	GSMC	Progressive Metal	 	 	                                    58,250 	SF	 	 	 
	4.35	 	4F3745	GSMC	Universal Pool - 166th	 	 	                                  109,814 	SF	 	 	 
	4.36	 	4F3745	GSMC	SITEL	 	 	                                    46,812 	SF	 	 	 
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	 	 	                                    16,500 	SF	 	 	 
	4.38	 	4F3745	GSMC	Texas Die Casting	 	 	                                    78,177 	SF	 	 	 
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	 	 	                                    14,884 	SF	 	 	 
	5	 	9067L5	GSMC	Quad at Whittier	Springing	Hard	                                  433,553 	SF	$252,193	Actual/360	0.02335%
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	Springing	Hard	                                  436,987 	SF	$294,668	Actual/360	0.01335%
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	 	 	                                  289,571 	SF	 	 	 
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	 	 	                                  147,416 	SF	 	 	 
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	In Place	Hard	                                  671,330 	SF	$286,852	Actual/360	0.01335%
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	 	 	                                  125,953 	SF	 	 	 
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	 	 	                                  124,108 	SF	 	 	 
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	 	 	                                  162,613 	SF	 	 	 
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	 	 	                                  116,799 	SF	 	 	 
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	 	 	                                  141,857 	SF	 	 	 
	8	 	651QH5	GSMC	Iron Mountain National Industrial	In Place	Hard	                               1,590,565 	SF	$145,747	Actual/360	0.01335%
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	 	 	                                  288,776 	SF	 	 	 
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	 	 	                                  205,121 	SF	 	 	 
	8.03	 	651QH5	GSMC	600 Burning Tree Road	 	 	                                    67,995 	SF	 	 	 
	8.04	 	651QH5	GSMC	1202 Avenue R	 	 	                                  175,716 	SF	 	 	 
	8.05	 	651QH5	GSMC	2955 South 18th Place	 	 	                                    76,210 	SF	 	 	 
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	 	 	                                    46,878 	SF	 	 	 
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	 	 	                                    43,925 	SF	 	 	 
	8.08	 	651QH5	GSMC	4449 South 36th Street	 	 	                                    79,059 	SF	 	 	 
	8.09	 	651QH5	GSMC	13425 Branch View Lane	 	 	                                  121,579 	SF	 	 	 
	8.1	 	651QH5	GSMC	2000 Robotics Place	 	 	                                  101,289 	SF	 	 	 
	8.11	 	651QH5	GSMC	1819 South Lamar Street	 	 	                                  102,881 	SF	 	 	 
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	 	 	                                    59,678 	SF	 	 	 
	8.13	 	651QH5	GSMC	1510 Capital Parkway	 	 	                                    65,000 	SF	 	 	 
	8.14	 	651QH5	GSMC	1905 John Connally Drive	 	 	                                    63,629 	SF	 	 	 
	8.15	 	651QH5	GSMC	1520 Capital Parkway	 	 	                                    52,829 	SF	 	 	 
	8.16	 	651QH5	GSMC	3576 North Moline Street	 	 	                                    40,000 	SF	 	 	 
	9	16	4W04K9	GSMC	Hamilton Place	Springing	Hard	                                  391,041 	SF	$209,353	30/360	0.01335%
	10	 	90OMK1	GSMC	Village Square	In Place	Hard	                                  392,854 	SF	$193,462	Actual/360	0.03335%
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	Springing	Hard	                                        179 	Rooms	$176,675	Actual/360	0.03335%
	12	18	9O3YF5	GSMC	Poipu Shopping Village	In Place	Hard	                                    42,090 	SF	$149,344	Actual/360	0.03335%
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	In Place	Hard	                                        251 	Rooms	$130,837	Actual/360	0.01335%
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	In Place	Hard	                                  291,265 	SF	$135,178	Actual/360	0.01335%
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	 	 	                                  168,303 	SF	 	 	 
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	 	 	                                  122,962 	SF	 	 	 
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	Springing	Hard	                                  209,351 	SF	$61,244	Actual/360	0.03335%
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	Springing	Springing	                                  186,553 	SF	$77,222	Actual/360	0.01335%
	17	 	6YIXM7	GSMC	Center For The Medical Arts	Springing	Springing	                                    95,209 	SF	$110,660	Actual/360	0.04335%
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	Springing	Hard	                                        378 	Rooms	$122,235	Actual/360	0.01335%
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	 	 	                                        198 	Rooms	 	 	 
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	 	 	                                        180 	Rooms	 	 	 
	19	 	901QO9	GSMC	David Holdings Portfolio	Springing	Springing	                                    59,826 	SF	$68,812	Actual/360	0.01335%
	19.01	 	901QO9	GSMC	Sprouts Culver City	 	 	                                    32,873 	SF	 	 	 
	19.02	 	901QO9	GSMC	Walgreens San Antonio	 	 	                                    13,400 	SF	 	 	 
	19.03	 	901QO9	GSMC	Petco Kansas City	 	 	                                    13,553 	SF	 	 	 
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	Springing	Springing	                                        150 	Rooms	$74,653	Actual/360	0.04335%
	21	27	909PU9	GSMC	Hyatt Place Princeton	Springing	Hard	                                        122 	Rooms	$68,937	Actual/360	0.01335%
	22	 	6YSZU5	GSMC	Michaels Distribution Center	Springing	Springing	                                  506,153 	SF	$37,092	Actual/360	0.05335%
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	Springing	Springing	                                  277,270 	SF	$46,357	Actual/360	0.05335%
	24	28	905W88	GSMC	Bellevue Town Center	Springing	Springing	                                    74,270 	SF	$45,427	Actual/360	0.01335%
	25	29	901PT9	GSMC	Crossroads Shopping Center	Springing	Springing	                                  100,654 	SF	$43,492	Actual/360	0.06085%
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	None	None	                                    92,648 	SF	$42,256	Actual/360	0.01335%
	27	 	6YH672	GSMC	Republic Place	In Place	Hard	                                    97,889 	SF	$41,126	Actual/360	0.01335%
	28	 	90NYN4	GSMC	3507 Ringsby Court	In Place	Hard	                                    28,781 	SF	$34,352	Actual/360	0.05335%
	29	 	6YGIR7	GSMC	Wesco International	Springing	Springing	                                  135,617 	SF	$32,869	Actual/360	0.05335%
	30	 	6Y9LV0	GSMC	Sabre Springs	Springing	Springing	                                    33,773 	SF	$20,436	Actual/360	0.01335%
	31	 	6YHH05	GSMC	Airport Village	Springing	Hard	                                    70,532 	SF	$31,032	Actual/360	0.01335%
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	Springing	Springing	                                  347,517 	SF	$16,808	Actual/360	0.05335%
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	Springing	Springing	                                    30,225 	SF	$14,380	Actual/360	0.05335%

 

    

     

    
 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	Control Number	Footnotes	Loan Number	Mortgage Loan Seller	Property Name	Ground Lease Y/N	Overlapping Fee Interest?	Prepayment Provision (3)	Companion Loan Flag 	Companion Loan Monthly Debt Service ($)	Companion Loan Interest Accrual Method
	1	4, 5	6Y2XK6	GSMC	AMA Plaza	Yes	No	Lockout/25_Defeasance/30_0%/5	Yes	$66,241.16	Actual/360
	2	6, 7	6Y38V8	GSMC	225 Bush Street	No	No	Lockout/24_Defeasance/23_0%/13	Yes	$68,388.35	Actual/360
	3	8, 9, 10, 11	9049V6	GSMC	540 West Madison	No	No	Lockout/26_Defeasance/90_0%/4	Yes	$237,177.51	Actual/360
	4	11, 12, 13, 14	4F3745	GSMC	U.S. Industrial Portfolio	 	 	Lockout/26_Defeasance/90_0%/4	Yes	$873,265.65	Actual/360
	4.01	 	4F3745	GSMC	Hannibal	No	No	 	 	 	 
	4.02	 	4F3745	GSMC	Kraco	No	No	 	 	 	 
	4.03	 	4F3745	GSMC	New WinCup - Phoenix	No	No	 	 	 	 
	4.04	 	4F3745	GSMC	Worlds Finest Chocolates	No	No	 	 	 	 
	4.05	 	4F3745	GSMC	SET - MI	No	No	 	 	 	 
	4.06	 	4F3745	GSMC	Plaid - Decatur	No	No	 	 	 	 
	4.07	 	4F3745	GSMC	Oracle Packaging	No	No	 	 	 	 
	4.08	 	4F3745	GSMC	TestAmerica - West SAC	No	No	 	 	 	 
	4.09	 	4F3745	GSMC	TestAmerica - Arvada	No	No	 	 	 	 
	4.10	 	4F3745	GSMC	Northwest Mailing Service	No	No	 	 	 	 
	4.11	 	4F3745	GSMC	Lyons	No	No	 	 	 	 
	4.12	 	4F3745	GSMC	Wilbert Plastics	No	No	 	 	 	 
	4.13	 	4F3745	GSMC	Angstrom Graphics	No	No	 	 	 	 
	4.14	 	4F3745	GSMC	New WinCup - Stone Mountain	No	No	 	 	 	 
	4.15	 	4F3745	GSMC	Universal Pool - Armory	No	No	 	 	 	 
	4.16	 	4F3745	GSMC	Jade-Sterling - IL	No	No	 	 	 	 
	4.17	 	4F3745	GSMC	Plaid - Norcross	No	No	 	 	 	 
	4.18	 	4F3745	GSMC	Phillips and Temro	No	No	 	 	 	 
	4.19	 	4F3745	GSMC	TestAmerica - Savannah	No	No	 	 	 	 
	4.20	 	4F3745	GSMC	Hover-Davis	No	No	 	 	 	 
	4.21	 	4F3745	GSMC	Jade-Sterling - OH	No	No	 	 	 	 
	4.22	 	4F3745	GSMC	Fitz Aerospace	No	No	 	 	 	 
	4.23	 	4F3745	GSMC	MVP Charleston	No	No	 	 	 	 
	4.24	 	4F3745	GSMC	Paragon Tech	No	No	 	 	 	 
	4.25	 	4F3745	GSMC	Aramsco and Bulls Eye	No	No	 	 	 	 
	4.26	 	4F3745	GSMC	Shale-Inland	No	No	 	 	 	 
	4.27	 	4F3745	GSMC	M.P. Pumps	No	No	 	 	 	 
	4.28	 	4F3745	GSMC	TestAmerica - Pensacola	No	No	 	 	 	 
	4.29	 	4F3745	GSMC	Microfinish	No	No	 	 	 	 
	4.30	 	4F3745	GSMC	MVP Mayfield	No	No	 	 	 	 
	4.31	 	4F3745	GSMC	Builders FirstSource	No	No	 	 	 	 
	4.32	 	4F3745	GSMC	Banner	No	No	 	 	 	 
	4.33	 	4F3745	GSMC	SET - IN	No	No	 	 	 	 
	4.34	 	4F3745	GSMC	Progressive Metal	No	No	 	 	 	 
	4.35	 	4F3745	GSMC	Universal Pool - 166th	No	No	 	 	 	 
	4.36	 	4F3745	GSMC	SITEL	No	No	 	 	 	 
	4.37	 	4F3745	GSMC	TestAmerica - Tallahassee	No	No	 	 	 	 
	4.38	 	4F3745	GSMC	Texas Die Casting	No	No	 	 	 	 
	4.39	 	4F3745	GSMC	TestAmerica - Corpus Christi	No	No	 	 	 	 
	5	 	9067L5	GSMC	Quad at Whittier	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	6	11, 15	9049W4	GSMC	Simon Premium Outlets	 	 	Lockout/26_Defeasance/87_0%/7	Yes	$153,930.79	Actual/360
	6.01	 	9049W4	GSMC	Queenstown Premium Outlets	No	No	 	 	 	 
	6.02	 	9049W4	GSMC	Pismo Beach Premium Outlets	No	No	 	 	 	 
	7	 	6Y3720	GSMC	Westchester Office Portfolio 700 Series	 	 	Lockout/24_Defeasance/92_0%/4	 	 	 
	7.01	 	6Y3720	GSMC	709 Westchester Avenue	No	No	 	 	 	 
	7.02	 	6Y3720	GSMC	777 Westchester Avenue	No	No	 	 	 	 
	7.03	 	6Y3720	GSMC	701 Westchester Avenue	No	No	 	 	 	 
	7.04	 	6Y3720	GSMC	711 Westchester Avenue	No	No	 	 	 	 
	7.05	 	6Y3720	GSMC	707 Westchester Avenue	No	No	 	 	 	 
	8	 	651QH5	GSMC	Iron Mountain National Industrial	 	 	Lockout/24_Defeasance/89_0%/7	 	 	 
	8.01	 	651QH5	GSMC	1800 Columbian Club Drive	No	No	 	 	 	 
	8.02	 	651QH5	GSMC	11333 East 53rd Avenue	No	No	 	 	 	 
	8.03	 	651QH5	GSMC	600 Burning Tree Road	No	No	 	 	 	 
	8.04	 	651QH5	GSMC	1202 Avenue R	No	No	 	 	 	 
	8.05	 	651QH5	GSMC	2955 South 18th Place	No	No	 	 	 	 
	8.06	 	651QH5	GSMC	1760 North Saint Thomas Circle	No	No	 	 	 	 
	8.07	 	651QH5	GSMC	1915 South Grand Avenue	No	No	 	 	 	 
	8.08	 	651QH5	GSMC	4449 South 36th Street	No	No	 	 	 	 
	8.09	 	651QH5	GSMC	13425 Branch View Lane	No	No	 	 	 	 
	8.1	 	651QH5	GSMC	2000 Robotics Place	No	No	 	 	 	 
	8.11	 	651QH5	GSMC	1819 South Lamar Street	No	No	 	 	 	 
	8.12	 	651QH5	GSMC	5151 East 46th Avenue	No	No	 	 	 	 
	8.13	 	651QH5	GSMC	1510 Capital Parkway	No	No	 	 	 	 
	8.14	 	651QH5	GSMC	1905 John Connally Drive	No	No	 	 	 	 
	8.15	 	651QH5	GSMC	1520 Capital Parkway	No	No	 	 	 	 
	8.16	 	651QH5	GSMC	3576 North Moline Street	No	No	 	 	 	 
	9	16	4W04K9	GSMC	Hamilton Place	No	No	Lockout/11_>YM or 1%/105_0%/4	Yes	$323,998.90	30/360
	10	 	90OMK1	GSMC	Village Square	No	No	Lockout/25_Defeasance/90_0%/5	 	 	 
	11	17	6YH5H1	GSMC	Hilton Garden Inn Old Town	No	No	Lockout/24_Defeasance/89_0%/7	 	 	 
	12	18	9O3YF5	GSMC	Poipu Shopping Village	Yes	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	13	19, 20, 21, 22	7QV1V0	GSMC	Embassy Suites Portland Airport	Yes	No	Lockout/25_>YM or 1%/88_0%/7	Yes	$142,111.29	Actual/360
	14	 	6Y37K3	GSMC	Westchester Office Portfolio 2500-2700 Series	 	 	Lockout/24_Defeasance/92_0%/4	 	 	 
	14.01	 	6Y37K3	GSMC	2500 Westchester Avenue	No	No	 	 	 	 
	14.02	 	6Y37K3	GSMC	2700 Westchester Avenue	No	No	 	 	 	 
	15	23	6Y7PF5	GSMC	Alton Corporate Plaza	No	No	Lockout/25_Defeasance/91_0%/4	 	 	 
	16	 	6Y36N8	GSMC	Skypark Plaza Shopping Center	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	17	 	6YIXM7	GSMC	Center For The Medical Arts	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	18	24, 25	4F0B20	GSMC	Residence Inn and SpringHill Suites North Shore	 	 	Lockout/32_Defeasance/84_0%/4	Yes	$261,139.14	Actual/360
	18.01	 	4F0B20	GSMC	SpringHill Suites Pittsburgh North Shore	No	No	 	 	 	 
	18.02	 	4F0B20	GSMC	Residence Inn Pittsburgh North Shore	No	No	 	 	 	 
	19	 	901QO9	GSMC	David Holdings Portfolio	 	 	Lockout/24_Defeasance/92_0%/4	 	 	 
	19.01	 	901QO9	GSMC	Sprouts Culver City	No	No	 	 	 	 
	19.02	 	901QO9	GSMC	Walgreens San Antonio	No	No	 	 	 	 
	19.03	 	901QO9	GSMC	Petco Kansas City	No	No	 	 	 	 
	20	26	6Y0FB0	GSMC	Holiday Inn Hollywood	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	21	27	909PU9	GSMC	Hyatt Place Princeton	No	No	Lockout/25_Defeasance/91_0%/4	 	 	 
	22	 	6YSZU5	GSMC	Michaels Distribution Center	No	No	Lockout/24_>YM or 1%/89_0%/7	 	 	 
	23	 	6YGIQ9	GSMC	Berkshire Hathaway	No	No	Lockout/25_Defeasance/91_0%/4	 	 	 
	24	28	905W88	GSMC	Bellevue Town Center	No	No	Lockout/25_Defeasance/90_0%/5	 	 	 
	25	29	901PT9	GSMC	Crossroads Shopping Center	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	26	 	6Y7R71	GSMC	Devon Self Storage Charlotte	No	No	Lockout/25_Defeasance/88_0%/7	 	 	 
	27	 	6YH672	GSMC	Republic Place	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	28	 	90NYN4	GSMC	3507 Ringsby Court	No	No	Lockout/25_Defeasance/91_0%/4	 	 	 
	29	 	6YGIR7	GSMC	Wesco International	No	No	Lockout/25_Defeasance/91_0%/4	 	 	 
	30	 	6Y9LV0	GSMC	Sabre Springs	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	31	 	6YHH05	GSMC	Airport Village	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	32	 	6Y2XJ9	GSMC	Therma Tru Doors	No	No	Lockout/24_Defeasance/92_0%/4	 	 	 
	33	 	65G8A7	GSMC	Michaels at Stoneridge Shopping Center	No	No	Lockout/26_Defeasance/90_0%/4	 	 	 

 

    

     

    

 

GS4

Exhibit H - Supplemental
Servicer Schedule

 

	1	The
    monthly debt service shown for Mortgage Loans with a partial interest-only period reflects the amount payable after the expiration
    of the interest-only period. 
	2	The
    Administrative Cost Rate includes the Servicing Fee Rate, the Operating Advisor Fee Rate, the Certificate Administrator/Trustee
    Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License
    Fee Rate applicable to each Mortgage Loan.
	3	The
    open period is inclusive of the Maturity Date or Anticipated Repayment Date.
	4	The
    Cut-off Date Principal Balance of $100,000,000 represents the note A-1 of a $304,000,000 whole loan evidenced by two senior
    pari passu notes, a subordinate note B with an outstanding principal balance as of the Cut-off Date of $101,600,000, and a
    subordinate note C with an outstanding principal balance as of the Cut-off Date of $72,400,000. The note A-2, with an outstanding
    principal balance of $30,000,000, is expected to be contributed to one or more future securitization transactions. Cut-off
    Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield
    on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance of the AMA Plaza
    Senior Loans of $130,000,000.
	5	The
    lockout period will be at least 25 payment dates beginning with and including the first payment date of November 6, 2016.
    For the purposes of this prospectus, the assumed lockout period of 25 payment dates is based on the expected GSMS 2016-GS4
    securitization closing date in November 2016. The actual lockout period may be longer.
	6	The
    Cut-off Date Principal Balance of $100,000,000 represents the note A-1 of a $235,000,000 whole loan evidenced by two senior
    pari passu notes and a subordinate note B with an outstanding principal balance as of the Cut-off Date of $113,000,000. The
    note A-2, with an outstanding principal balance of $22,000,000, is expected to be contributed to one or more future securitization
    transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating
    Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance
    of the 225 Bush Street Senior Loans of $122,000,000.
	7	The
    lockout period will be at least 24 payment dates beginning with and including the first payment date of December 6, 2016.
    For the purposes of this prospectus, the assumed lockout period of 24 payment dates is based on the expected GSMS 2016-GS4
    securitization closing date in November 2016. The actual lockout period may be longer.
	8	The
    Cut-off Date Principal Balance of $75,292,000 represents the note A-2 of a $325,000,000 whole loan evidenced by two senior
    pari passu notes, a subordinate note B with an outstanding principal balance as of the Cut-off Date of $54,208,000, and a
    subordinate note C with an outstanding principal balance as of the Cut-off Date of $108,500,000. The note A-1, with an outstanding
    principal balance of $87,000,000, and the subordinate note B, were contributed to the GSMS 2016-GS3 securitization transaction.
    Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt
    Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate principal balance of the 540
    West Madison Senior Loans of $162,292,000.
	9	The
    Ongoing TI/LC Reserve, commencing with the due date in September 2019, will equal $137,329.
	10	Under
    the terms of the Mortgage Loan documents, the first due date is November 6, 2016, the maturity date is September 6, 2026 and
    the Original Interest-Only Period and Original Term to Maturity are actually 119 months. However, due to the fact that GSMC
    contributed an initial interest deposit amount to the GSMS 2016-GS3 issuing entity to cover an amount that represents one-month’s
    interest that would have accrued with respect to the Mortgage Loan at the Net Mortgage Rate with respect to a October 2016
    payment date, such Mortgage Loan is being treated as having a First Due Date on October 6, 2016, and as having an Original
    Interest-Only Period and Original Term to Maturity of 120 months.
	11	The
    lockout period will be at least 26 payment dates beginning with and including the first payment date of October 6, 2016. For
    the purposes of this prospectus, the assumed lockout period of 26 payment dates is based on the expected GSMS 2016-GS4 securitization
    closing date in November 2016. The actual lockout period may be longer.
	12	The
    Cut-off Date Principal Balance of $74,939,052 represents the non-controlling note A-2 of a $307,640,000 whole loan combination
    evidenced by four pari passu notes. The companion loans are evidenced by controlling note A-1, non-controlling note A-3 and
    non-controlling note A-4 with an aggregate outstanding principal balance as of the Cut-off Date of $232,450,948. The controlling
    note A-1 was contributed to the GSMS 2016-GS3 securitization transaction. The non-controlling note A-3 and note A-4 are expected
    to be contributed to one or more future securitization transactions. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten
    NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations
    are based on the aggregate Cut-off Date Balance of $307,390,000.
	13	The
    U.S. Industrial Portfolio Whole Loan requires monthly debt service payments of (i) $125,000 of principal plus (ii) the amount
    of interest accrued on the outstanding principal balance of the mortgage loan during the related interest accrual period.
	14	The
    Ongoing TI/LC Reserve, commencing on September 1, 2021 (or earlier if funds on deposit therein are less than $1,500,000) will
    equal $150,000 up to an amount equal to $4,500,000 until such time as funds on deposit therein are less than $1,500,000, and
    on each due date thereafter, the borrower will be required to resume monthly deposits in an amount equal to the lesser of
    (x) $150,000 and (y) the amount necessary to cause the tenant improvements and leasing commissions reserve account to contain
    funds equal to $1,500,000.
	15	The
    Cut-off Date Principal Balance of $66,788,798 represents the controlling note A-1 of a $102,000,000 loan combination evidenced
    by two pari passu notes. The companion loan, evidenced by non-controlling note A-2, with an outstanding principal balance
    as of the Cut-off Date of $34,889,671 is expected to be contributed to one or more future securitization transactions. Cut-off
    Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating
    Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance
    of $102,000,000.
	16	The
    Cut-off Date Principal Balance of $41,714,341 represents the non-controlling note A-2 of a $107,000,000 whole loan evidenced
    by two pari passu notes. The companion loan is evidenced by the controlling note A-1 with an outstanding principal balance
    as of the Cut-off Date of $64,557,908, which was contributed to the GSMS 2016-GS3 transaction. Cut-off Date LTV Ratio, LTV
    Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield
    on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $107,000,000.
	17	The
    Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $35,277.61 for the Due Dates occurring in December
    2016 through November 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the
    Franchise Agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the Operating Income of the Property
    for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in October.
	18	On
    or before December 6, 2016, Borrower is required to deposit the amount of $2,842.73 into the replacement reserve account.
	19	The
    Cut-off Date Principal Balance of $27,620,000 represents the non-controlling note A-2 of a $57,620,000 whole loan combination
    evidenced by two pari passu notes. The companion loan, evidenced by controlling note A-1, with an outstanding principal balance
    as of the Cut-off Date of $30,000,000 was contributed to the GSMS 2016-GS3 securitization transaction. Cut-off Date LTV Ratio,
    LTV Ratio at Maturity, Underwritten NOI DSCR, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt
    Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-off Date Balance of $57,620,000.
	20	The
    Ongoing Replacement Reserve is an FF&E reserve in an amount equal to the greater of (i) the aggregate amount of all deposits
    for replacements, if any, required to be deposited by the borrower with franchisor or manager pursuant to the applicable franchise
    agreement or management agreement (without duplication) and (ii) 4% of gross income from operations for the property, for
    the calendar month that is two calendar months prior to the calendar month of the payment date on which such deposit is required.
	21	On
    October 6, 2018 and on any business day thereafter through the Maturity Date, the borrower may, at its option, prepay the
    debt in whole or in part. No prepayment of all or any portion of the loan may cause, give rise to a right to require, or otherwise
    result in, the release of the lien of the mortgage on the Mortgaged Property.
	22	Upon
    written request from the borrower, within ten business days of such request, the lender is required to transfer from the replacement
    reserve account amounts not to exceed 75% of the total amount of replacement reserve funds then deposited in the replacement
    reserve account to the PIP reserve account.
	23	Commencing
    on the Anticipated Repayment Date, the interest rate increases to 3.0000% per annum plus the greater of (i) the Interest Rate
    or (ii) the yield on the most recently issued 10-year U.S. Treasury notes as of the Anticipated Repayment Date.
	24	The
    Cut-off Date Principal Balance of $21,813,458 represents the non-controlling note A-2-2 of a $69,000,000 whole loan evidenced
    by three pari passu notes. The companion loan is evidenced by the controlling note A-1 with an outstanding principal balance
    as of the Cut-off Date of $24,788,020 and non-controlling note A-2-1 with an outstanding principal balance as of the Cut-off
    Date of $21,813,458. The controlling note A-1 was contributed to the GSMS 2016-GS2 transaction and the non-controlling note
    A-2-1 was contributed to the GSMS 2016-GS3 transaction. Cut-off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NOI DSCR,
    Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan
    Per Unit calculations are based on the aggregate Cut-off Date Balance of $68,414,936.
	25	The
    Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) for the Due Dates occurring in April 2016 through
    March 2017, $63,395.52 and (ii) for each Due Date thereafter, an amount equal to the greater of (a) the monthly amount required
    to be reserved pursuant to the franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the
    operating income of the property for the previous twelve (12) month period as determined on the anniversary of the last day
    of the calendar month in February.
	26	The
    Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $21,345.03 for the Due Dates occurring in December
    2016 through November 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant to the
    franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the operating income of the property
    for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month in October.
	27	The
    Ongoing Replacement Reserve is an FF&E reserve in an amount equal to (i) $17,054.42 for the Payment Dates that occur in
    November 2016 through October 2017 and (ii) thereafter the greater of (a) the monthly amount required to be reserved pursuant
    to the franchise agreement for the replacement of FF&E or (b) one-twelfth (1/12th) of 4% of the operating income of the
    property for the previous twelve (12) month period as determined on the anniversary of the last day of the calendar month
    in September. 
	28	At
    origination, the borrower funded a $100,000 Upfront Replacement Reserve. In the event that the replacement reserve falls below
    $45,000, the borrower is required to fund an Ongoing Replacement Reserve in the monthly amount of $1,237.83, subject to a
    cap of $45,000.
	29	At
    origination, the borrower funded a $250,000 Upfront TI/LC Reserve. In the event that the TI/LC reserve falls below $200,000,
    the borrower is required to fund an Ongoing TI/LC Reserve in the monthly amount of $4,166.67, subject to a cap of $200,000.

 

    

     

    

 

EXHIBIT
I

 

Form
of Transfer Certificate

for Rule 144A Book-Entry Certificate

to Temporary Regulation S Book-Entry Certificate

during Restricted Period

 

(Exchanges
or transfers pursuant to

Section 5.03(c) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479 0113

Attention:
Corporate Trust Services (CMBS)

GS
Mortgage Securities Trust 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer,
as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services
LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Temporary Regulation S Book-Entry Certificate
of such Class (CINS No. [______] and ISIN No. [______]) to be held with the Depository in the name of [Euroclear] [Clearstream]*
(Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and
in accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

 

 

*       Select
appropriate depository.

 

    Exhibit I-1 

     

    

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

[(2)      at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States;]**

 

[(2)      the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]**

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Operating Advisor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street
Special Servicer, the Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated:
________

 

cc:
GS Mortgage Securities Corporation II

 

 

 

**       Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.

 

    Exhibit I-2 

     

    

 

EXHIBIT
J

 

Form
of Transfer Certificate

for Rule 144A Book-Entry Certificate

to Regulation S Book-Entry Certificate after Restricted Period

 

(Exchange
or transfers pursuant to

Section 5.03(d) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer,
as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services
LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______])
with the Depository in the name of [insert name of Transferor] (the “Transferor”). The Transferor has requested
an exchange or transfer of such beneficial interest for a beneficial interest in the Regulation S Book-Entry Certificate of such
Class (CINS No. [______], ISIN No. [______], and Common Code No. [______]).

 

In
connection with such request and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer
has been made in compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in
accordance with Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    Exhibit J-1 

     

    

 

[(2)      at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed and believes that the transferee was outside the United States,]*

 

[(2)      the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Operating Advisor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street
Special Servicer, the Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated:
________

 

cc:
GS Mortgage Securities Corporation II

 

 

 

*       Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.

 

    Exhibit J-2 

     

    

 

EXHIBIT
K

 

Form
of Transfer Certificate

for Temporary Regulation S Book-Entry Certificate

to Rule 144A Book-Entry Certificate during Restricted Period

 

(Exchange
or transfers pursuant to

Section 5.03(e) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479 0113

Attention:
Corporate Trust Services (CMBS)

GS
Mortgage Securities Trust 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer,
as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services
LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This
letter relates to US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No.
[______] and ISIN No. [______]) with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository in the
name of [insert name of transferor] (the “Transferor”). The Transferor has requested an exchange or transfer
of such beneficial interest for a beneficial interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In
connection with such request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are
being exchanged or transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933,
as amended (the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the
Certificates for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion,
and the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of

 

 

 

*       Select
appropriate depository.

 

    Exhibit K-1 

     

    

 

Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Trustee, the Certificate Administrator,
the Operating Advisor, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street
Special Servicer, the Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated:
_______

 

cc:
GS Mortgage Securities Corporation II

 

    Exhibit K-2 

     

    

 

EXHIBIT
L

 

Form
of Transfer Certificate

for Temporary Regulation S Book-Entry Certificate

to Regulation S Book-Entry Certificate after Restricted Period

 

(Exchanges
pursuant to

Section 5.03(f) of the Pooling and Servicing Agreement)

 

Wells
Fargo Bank, National Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479 0113

Attention:
Corporate Trust Services (CMBS)

GS
Mortgage Securities Trust 2016-GS4

 

		Re:	GS
                                         Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
                                         2016-GS4, Class [__]

 

Reference
is hereby made to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer,
as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services
LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

[For
purposes of acquiring a beneficial interest in a Regulation S Book-Entry Certificate of the Class specified above after the expiration
of the Restricted Period,] [For purposes of receiving payments under a Temporary Regulation S Book-Entry Certificate of the Class
specified above,]* the undersigned holder of a beneficial interest in a Temporary Regulation S Book-Entry Certificate
of the Class specified above issued under the Pooling and Servicing Agreement certifies that it is not a U.S. Person as defined
by Regulation S under the Securities Act of 1933, as amended.

 

We
undertake to advise you promptly by facsimile on or prior to the date on which you intend to submit your corresponding certification
relating to the Certificates of the Class specified above held by you for our account if any applicable statement herein is not
correct on such date, and in the absence of any such notification it may be assumed that this certification applies as of such
date.

 

 

 

*       Select,
as applicable.

 

    Exhibit L-1 

     

    

 

We
understand that this certificate is required in connection with certain securities laws of the United States. In connection therewith,
if administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant,
we irrevocably authorize you to produce this certificate to any interested party in such proceeding. This certificate and the
statements contained herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the General Special
Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Trustee, the Certificate Administrator, the
Operating Advisor, the Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	Dated:______________	 
	 	 	 	 
		By:	 	 
	 	 	as, or as agent for, the holder of a beneficial interest in the Certificates to which this certificate relates.

 

    Exhibit L-2 

     

    

 

EXHIBIT M

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Temporary Regulation S Book-Entry
Certificate

 

(Exchanges or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479 0113

Attention:
Corporate Trust Services (CMBS)

GS Mortgage
Securities Trust 2016-GS4

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, Class [__]

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as
AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Temporary Regulation S Book-Entry Certificate of such Class (CINS No. [______] and ISIN No. [______])
to be held with [Euroclear] [Clearstream]* (Common Code [______]) through the Depository.

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with
Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities
Act”), and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States;

 

 

 

*     Select appropriate depository.

 

    	Exhibit M-1 

     

    

 

[(2)      at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States;]**

 

[(2)      the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;] **

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the
Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated: ________

 

		cc:	GS Mortgage Securities Corporation II

 

 

 

**   Insert one of these two provisions, which come
from the definition of “offshore transaction” in Regulation S.

 

    	Exhibit M-2 

     

    

 

EXHIBIT N

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Regulation S Book-Entry Certificate

 

(Exchange or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar

Sixth
Street and Marquette Avenue

Minneapolis,
Minnesota 55479 0113

Attention:
Corporate Trust Services (CMBS)

GS Mortgage
Securities Trust 2016-GS4

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4,
Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as
AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of Transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such Non-Book Entry Certificates
for a beneficial interest in the Regulation S Book-Entry Certificate (CINS No. [______], ISIN No. [______], and Common Code No.
[______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such exchange or transfer has been made in
compliance with the transfer restrictions set forth in the Pooling and Servicing Agreement pursuant to and in accordance with Regulation S
(“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”),
and accordingly the Transferor does hereby certify that:

 

(1)       the
offer of the Certificates was not made to a person in the United States,

 

    	Exhibit N-1 

     

    

 

[(2)     at the time the
buy order was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably
believed and believes that the transferee was outside the United States,]*

 

[(2)      the transaction
was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person
acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,] *

 

(3)       no
“directed selling efforts” within the meaning of Rule 902(c) of Regulation S have been made in contravention of the
requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)       the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the
Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated: _______

 

		cc:	GS Mortgage Securities Corporation II

 

 

 

*    Insert one of these two provisions, which come
from the definition of “offshore transaction” in Regulation S.

 

    	Exhibit N-2 

     

    

 

EXHIBIT O

 

Form
of Transfer Certificate

for Non-Book Entry Certificate

to Rule 144A Book-Entry Certificate

 

(Exchange or transfers pursuant to

Section 5.03(g) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National
Association,

as Certificate Registrar 

Sixth
Street and Marquette Avenue 

Minneapolis,
Minnesota 55479 0113 

Attention:
Corporate Trust Services (CMBS) 

GS Mortgage
Securities Trust 2016-GS4

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, Class [__] 

 

Reference is hereby made
to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as
AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee. Capitalized
terms used but not defined herein shall have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $[______] aggregate [Certificate Balance] [Notional Amount] of the Class [__] Certificates (the “Certificates”)
which are held in the form of Non-Book Entry Certificates of such Class (CUSIP No. [______]) in the name of [insert name of transferor]
(the “Transferor”). The Transferor has requested an exchange or transfer of such beneficial interest for a beneficial
interest in the Rule 144A Book-Entry Certificate of such Class (CUSIP No. [______]).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being exchanged or
transferred in accordance with Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended
(the “Securities Act”), to a transferee that the Transferor reasonably believes is purchasing the Certificates
for its own account, or for one or more accounts with respect to which the transferee exercises sole investment discretion, and
the transferee and any such account is a “qualified institutional buyer” within the meaning of Rule 144A in each
case in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any state
of the United States or other applicable jurisdiction.

 

    	Exhibit O-1 

     

    

 

We understand that this
certificate is required in connection with certain securities laws of the United States. In connection therewith, if administrative
or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably
authorize you to produce this certificate to any interested party in such proceeding. This certificate and the statements contained
herein are made for your benefit and the benefit of the Depositor, the Master Servicer, the General Special Servicer, the AMA Plaza
Special Servicer, the 225 Bush Street Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, the
Asset Representations Reviewer, the Initial Purchasers and the Loan-Specific Initial Purchaser.

 

	 	[Insert Name of Transferor]
	 	 	 
		By:	
 
	 	 	Name:
	 	 	Title:

 

Dated: _______

 

		cc:	GS Mortgage Securities Corporation II

 

    	Exhibit O-2 

     

    

 

EXHIBIT P-1A

 

FORM OF INVESTOR CERTIFICATION for
Non-Borrower PartY

(for Persons other than the DIRECTING HOLDER, the controlling 

class representative and/or
a Controlling Class 

Certificateholder)

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

Email: trustadministrationgroup@wellsfargo.com;

 cts.cmbs.bond.admin@wellsfargo.com

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 

 

In accordance with
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by
and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA
Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as
General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is a Certificateholder, a beneficial owner or prospective purchaser of the Class [__] Certificates or a Companion Holder
(or any investment advisor or manager or other representative of the foregoing).

 

2.       The
undersigned is neither the Directing Holder, the Controlling Class Representative, a Controlling Class Certificateholder, the AMA
Plaza Controlling Class Representative, a AMA Plaza Controlling Class Certificateholder, the 225 Bush Street Controlling Class
Representative nor a 225 Bush Street Controlling Class Certificateholder.

 

3.       In
the case that the undersigned is a Certificateholder, a beneficial owner or prospective purchaser of an Offered Certificate, the
undersigned has received a copy of the Prospectus.

 

4.       The
undersigned is not a Borrower Party.

 

5.       The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website

 

    	Exhibit P-1A-1 

     

    

 

[and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement]. In consideration
of the disclosure to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part; provided, however, that the obligations of the undersigned to keep
any such Information confidential shall expire one year following the date that the undersigned receives such Information (with
respect to a prospective purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the
Class of Certificates referenced above. The undersigned will not use or disclose the Information in any manner which could result
in a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

6.       The
undersigned shall be fully liable for any breach of the terms of this certification by itself or any of its Representatives and
shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the
AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Underwriters, the Initial Purchasers, the Loan-Specific Initial Purchaser and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the Certificate
Administrator’s Website.

 

8.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

    	Exhibit P-1A-2 

     

    

 

	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser][Companion Holder]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1A-3 

     

    

 

EXHIBIT P-1B

 

FORM OF INVESTOR CERTIFICATION for
Non-Borrower PartY

(for the DIRECTING HOLDER, CONTROLLING CLASS REPRESENTATIVE 

and/or a Controlling Class
Certificateholder)

 

[Date]

 

	Midland Loan Services, a Division of PNC Bank, 

National Association, 10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head	 	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

	 	 	 
	
        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

        Email:trustadministrationgroup@wellsfargo.com;

         cts.cmbs.bond.admin@wellsfargo.com

         

        Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com
	 	
        Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: GSMS 2016-GS4 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

        

        Wilmington Trust, National Association

        1100 North Market Street

        Wilmington, Delaware 19890

        Attention: CMBS Trustee

        Facsimile: (302) 630-4140

        Email: CMBSTrustee@wilmingtontrust.com

         

	 	 	 
	
        Wells Fargo Bank,
National Association,

        Sixth Street and Marquette Avenue

        Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4
	 	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com
	 	 	 

		Re:	GS Commercial Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4 

 

    	Exhibit P-1B-1 

     

    

 

In accordance with
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by
and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA
Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as
General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is [the Directing Holder][the Controlling Class Representative][the Holder of the majority of the Controlling Class][a
Controlling Class Certificateholder][the AMA Plaza Controlling Class Representative] [the 225 Bush Street Controlling Class Representative]
[the holder of the majority of the AMA Plaza Controlling Class] [the holder of the majority of the 225 Bush Street Controlling
Class] [a AMA Plaza Controlling Class Certificateholder] [a 225 Bush Street Controlling Class Certificateholder].

 

2.       The
undersigned has received a copy of the Prospectus.

 

3.       The
undersigned is not a Borrower Party.

 

4.       The
undersigned is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website [and/or is requesting the information identified on the schedule attached hereto
(also, the “Information”) pursuant to the provisions of the Pooling and Servicing Agreement]. In consideration
of the disclosure to the undersigned of the Information, or the access thereto, the undersigned will keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part; provided, however, that the obligations of the undersigned to keep
any such Information confidential shall expire one year following the date that the undersigned receives such Information (with
respect to a prospective purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the
Class of Certificates referenced above. The undersigned will not use or disclose the Information in any manner which could result
in a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

5.       The
undersigned shall be fully liable for any breach of the terms of this certification by itself or any of its Representatives and
shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the
AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Underwriters, the Initial Purchasers, the Loan-Specific

 

    	Exhibit P-1B-2 

     

    

 

Initial Purchaser and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.       At
any time the undersigned becomes a Borrower Party with respect to any Mortgage Loan or Whole Loan, the undersigned shall deliver
the certification attached as Exhibit P-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the
notices attached as Exhibit P-1E and Exhibit P-1F to the Pooling and Servicing Agreement.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the Certificate
Administrator’s Website.

 

8.       [For
use with any party other than the initial Directing Holder] The undersigned hereby certifies that an executed copy of this certification
in [paper][electronic click-through] form has been delivered in accordance with the notice provisions of the Pooling and Servicing
Agreement to the applicable Information provider listed above [(a) by overnight courier or (b) mailed by registered mail, postage
prepaid].

 

9.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

	 	[Directing Holder][Controlling
Class Representative][Holder of the Majority of the Controlling Class][Controlling Class Certificateholder][AMA Plaza Controlling
Class Representative] [225 Bush Street Controlling Class Representative] [Holder of the Majority of the AMA Plaza Controlling Class]
[Holder of the Majority of the 225 Bush Street Controlling Class] [AMA Plaza Controlling Class Certificateholder] [225 Bush Street
Controlling Class Certificateholder]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1B-3 

     

    

 

EXHIBIT P-1C

 

FORM OF INVESTOR CERTIFICATION for
Borrower PartY

(for Persons other than the DIRECTING HOLDER, CONTROLLING CLASS 

REPRESENTATIVE and/or
a Controlling Class Certificateholder)

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

 

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 

 

In accordance with
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by
and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA
Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as
General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned is a Certificateholder, a beneficial owner or prospective purchaser of the Class [__] Certificates or a Companion Holder
(or any investment advisor or manager or other representative of the foregoing).

 

2.       The
undersigned is neither the Directing Holder, the Controlling Class Representative, a Controlling Class Certificateholder, the AMA
Plaza Controlling Class Representative, a AMA Plaza Controlling Class Certificateholder, the 225 Bush Street Controlling Class
Representative nor a 225 Bush Street Controlling Class Certificateholder.

 

3.       In
the case that the undersigned is a Certificateholder, a beneficial owner or prospective purchaser of an Offered Certificate, the
undersigned has received a copy of the Prospectus.

 

4.       The
undersigned is a Borrower Party.

 

    	Exhibit P-1C-1 

     

    

 

5.       The
undersigned is requesting access to the Distribution Date Statements pursuant to the Pooling and Servicing Agreement. In consideration
of the disclosure to the undersigned of the Distribution Date Statements, or the access thereto, the undersigned will keep the
Distribution Date Statements confidential (except from such outside persons as are assisting it in making an evaluation in connection
with purchasing the related Certificates, from its accountants and attorneys, and otherwise from such governmental or banking authorities
or agencies to which the undersigned is subject), and such Distribution Date Statements will not, without the prior written consent
of the Depositor, be otherwise disclosed by the undersigned or by its officers, directors, partners, employees, agents or representatives
(collectively, the “Representatives”) in any manner whatsoever, in whole or in part; provided, however,
that the obligations of the undersigned to keep any such Distribution Date Statements confidential shall expire one year following
the date that the undersigned receives such Distribution Date Statements (with respect to a prospective purchaser only) or is no
longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates referenced above. The undersigned
will not use or disclose the Distribution Date Statements in any manner which could result in a violation of any provision of the
Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended,
or would require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

6.       The
undersigned shall be fully liable for any breach of the terms of this certification by itself or any of its Representatives and
shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the
AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Underwriters, the Initial Purchasers, the Loan-Specific Initial Purchaser and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

7.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Distribution Date Statements
on the Certificate Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine
or verify whether the undersigned has properly certified or recertified under this Investor Certification any time the undersigned
accesses the Certificate Administrator’s Website.

 

8.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

    	Exhibit P-1C-2 

     

    

 

	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1C-3 

     

    

 

EXHIBIT P-1D

 

FORM OF INVESTOR CERTIFICATION for
Borrower PartY

(for the DIRECTING HOLDER, controlling class representative 

and/or a Controlling Class
Certificateholder)

 

[Date]

 

	Midland Loan Services, a Division of PNC Bank, 

National Association, 10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

	 	 
	
        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

        Email:trustadministrationgroup@wellsfargo.com;

 cts.cmbs.bond.admin@wellsfargo.com

         

        Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com
	
        Park Bridge Lender Services LLC

        600 Third Avenue, 40th Floor

        New York, New York 10016

        Attention: GSMS 2016-GS4 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee

        Facsimile: (302) 630-4140

        Email: CMBSTrustee@wilmingtontrust.com

	 	 
	
        Wells Fargo Bank,
National Association,

        Sixth Street and Marquette Avenue

        Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4
	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com
	 	 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4

 

    	Exhibit P-1D-1 

     

    

 

In accordance with
the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by
and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA
Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as
General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, with respect
to the certificates (the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1. The undersigned
is [the Directing Holder][the Controlling Class Representative][the Holder of the majority of the Controlling Class][a Controlling
Class Certificateholder][the AMA Plaza Controlling Class Representative] [the 225 Bush Street Controlling Class Representative]
[the holder of the majority of the AMA Plaza Controlling Class] [the holder of the majority of the 225 Bush Street Controlling
Class] [a AMA Plaza Controlling Class Certificateholder] [a 225 Bush Street Controlling Class Certificateholder].

 

2.       The
undersigned is a Borrower Party with respect to the following [Excluded Loan][Excluded Controlling Class Loan](s):

 

[IDENTIFY [EXCLUDED
LOAN][EXCLUDED CONTROLLING CLASS LOAN](S)] (the “[Excluded Loan][Excluded Controlling Class Loan](s)”)

 

The undersigned
is not a Borrower Party with respect to any other Mortgage Loan.

 

3.       The
undersigned has received a copy of the Prospectus.

 

4.       [If
the undersigned is (a) a holder of 50% or more of the Controlling Class or (b) the Controlling Class Representative, then in each
case with respect to each of the Mortgage Loans listed in this certification, each such Mortgage Loan shall be an “Excluded
Loan”, as defined in the Pooling and Servicing Agreement, and a Control Termination Event and a Consultation Termination
Event shall be deemed to occur and the Certificate Administrator is hereby directed to post such information on its website as
a special notice.]

 

5.       [If the undersigned
is (a) a holder of 50% or more of the AMA Plaza Controlling Class; (b) the AMA Plaza Controlling Class Representative; (c) a holder
of 50% or more of the 225 Bush Street Controlling Class; or (d) the 225 Bush Street Controlling Class Representative, then in each
case with respect to the related Trust Subordinate Companion Loan listed in this certification, such Trust Subordinate Companion
Loan shall be an “Excluded Loan”, as defined in the Pooling and Servicing Agreement, and a related Trust Subordinate
Companion Loan Control Termination Event shall be deemed to occur and the Certificate Administrator is hereby directed to post
such information on its website as a special notice.]

 

6.       Except
with respect to the [Excluded Loan][Excluded Controlling Class Loan](s), the undersigned is requesting access pursuant to the Pooling
and Servicing Agreement to certain information (the “Information”) on the Certificate Administrator’s
Website [and/or is requesting the information identified on the schedule attached hereto (also, the “Information”)
pursuant to the provisions of the Pooling and Servicing Agreement]. In consideration of the disclosure to the undersigned of the
Information, or the access thereto, the undersigned will keep the Information

 

    	Exhibit P-1D-2 

     

    

 

confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information will not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part; provided, however, that the obligations of the undersigned to keep
any such Information confidential shall expire one year following the date that the undersigned receives such Information (with
respect to a prospective purchaser only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the
Class of Certificates referenced above. The undersigned will not use or disclose the Information in any manner which could result
in a violation of any provision of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities
Exchange Act of 1934, as amended, or would require registration of any Certificate not previously registered pursuant to Section
5 of the Securities Act.

 

7.       The
undersigned hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined
in the Pooling and Servicing Agreement) relating to the [Excluded Loan][Excluded Controlling Class Loan](s) to the extent the undersigned
receives access to such Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such
Excluded Information in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.

 

8.       The
undersigned shall be fully liable for any breach of the terms of this certification by itself or any of its Representatives and
shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the
AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Underwriters, the Initial Purchasers, the Loan-Specific Initial Purchaser and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

9.       To
the extent the undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise
receives access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly
provide any such Excluded Information to (A) the related Borrower Party, (B) any related Excluded Controlling Class Holder, (C)
any employees or personnel of the undersigned or any of its Affiliates involved in the management of any investment in the related
Borrower Party or the related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate that holds a direct or indirect
ownership interest in the related Borrower Party, and (ii) will maintain sufficient internal controls and appropriate policies
and procedures in place in order to comply with the obligations described in clause (i) above.

 

10.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the Certificate
Administrator’s Website.

 

    	Exhibit P-1D-3 

     

    

 

11.       The
undersigned hereby certifies that an executed copy of this certification in [paper][electronic click-through] form has been delivered
in accordance with the notice provisions of the Pooling and Servicing Agreement to the applicable Information provider listed above
[(a) by overnight courier or (b) mailed by registered mail, postage prepaid].

 

12.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

	 	[Directing Holder][Controlling
Class Representative][Holder of the Majority of the Controlling Class][Controlling Class Certificateholder][AMA Plaza Controlling
Class Representative] [225 Bush Street Controlling Class Representative] [Holder of the Majority of the AMA Plaza Controlling Class]
[Holder of the Majority of the 225 Bush Street Controlling Class] [AMA Plaza Controlling Class Certificateholder] [225 Bush Street
Controlling Class Certificateholder]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1D-4 

     

    

 

EXHIBIT P-1E

 

FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER

 

[Date]

 

	Midland Loan Services, a Division of PNC Bank, 

National Association, 10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

	 	 
	
        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

        Email:trustadministrationgroup@wellsfargo.com;

        cts.cmbs.bond.admin@wellsfargo.com

         

        Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com 
	
        Park Bridge Lender Services LLC

        600 Third Avenue, 40th Floor

        New York, New York 10016

        Attention: GSMS 2016-GS4 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee 

        Facsimile: (302) 630-4140 

        Email: CMBSTrustee@wilmingtontrust.com

         

	 	 
	
        Wells Fargo Bank,
National Association, 

        Sixth Street and Marquette Avenue 

        Minneapolis, Minnesota 55479-0113

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

         
	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com
	 	 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

    	Exhibit P-1E-1 

     

    

 

THIS NOTICE IDENTIFIES
AN “[EXCLUDED LOAN][EXCLUDED CONTROLLING CLASS LOAN]” RELATING TO THE GS MORTGAGE SECURITIES TRUST 2016-GS4, COMMERCIAL
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2016-GS4, REQUIRING ACTION BY YOU AS THE RECIPIENT PURSUANT TO SECTION 3.13(b) OF THE
POOLING AND SERVICING AGREEMENT.

 

In accordance with
Section 3.13(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”),
the undersigned (the “Excluded Controlling Class Holder”) hereby certifies and agrees as follows:

 

1.       The
undersigned is [the Controlling Class Representative][the Holder of the majority of the Controlling Class][a Controlling Class
Certificateholder][the AMA Plaza Controlling Class Representative][the 225 Bush Street Controlling Class Representative][the Holder
of the majority of the AMA Plaza Controlling Class][the Holder of the majority of the 225 Bush Street Controlling Class][a AMA
Plaza Controlling Class Certificateholder][a 225 Bush Street Controlling Class Certificateholder] as of the date hereof.

 

2.       The
undersigned has become a Borrower Party with respect to the following [Mortgage Loan(s)] [and] [Whole Loan(s)] (the “[Excluded
Loan][Excluded Controlling Class Loan](s)”):

 

	Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

[[If applicable] For
the avoidance of doubt, [each] of the foregoing loans is both an Excluded Loan and an Excluded Controlling Class Loan.] The
undersigned is not a Borrower Party with respect to any other Mortgage Loan.

 

3.       [If
the undersigned is (a) a holder of 50% or more of the Controlling Class or (b) the Controlling Class Representative, then
in each case with respect to each of the Mortgage Loans listed in this certification, each such Mortgage Loan shall be an “Excluded
Loan”, as defined in the Pooling and Servicing Agreement, and a Control Termination Event and a Consultation Termination
Event shall be deemed to occur and the Certificate Administrator is hereby directed to post such information on its website as
a special notice.]

 

4.       [If
the undersigned is (a) a holder of 50% or more of the AMA Plaza Controlling Class; (b) the AMA Plaza Controlling Class Representative;
(c) the 225 Bush Street Controlling Class; or (d) the 225 Bush Street Controlling Class Representative, then in each case with
respect to the related Trust Subordinate Companion Loan listed in this certification, such Trust Subordinate Companion Loan shall
be an “Excluded Loan”, as defined in the Pooling and Servicing Agreement, and a related Trust Subordinate Companion
Loan Control Termination Event shall be deemed to occur and the Certificate Administrator is hereby directed to post such information
on its website as a special notice.]

 

    	Exhibit P-1E-2 

     

    

 

5.       Except
with respect to the [Excluded Loan][Excluded Controlling Class Loan](s), the undersigned is requesting access pursuant to the Pooling
and Servicing Agreement to certain information (the “Information”) on the Certificate Administrator’s
Website [and/or is requesting the information identified on the schedule attached hereto (also, the “Information”)
pursuant to the provisions of the Pooling and Servicing Agreement]. In consideration of the disclosure to the undersigned of the
Information, or the access thereto, the undersigned will keep the Information confidential (except from such outside persons as
are assisting it in making an evaluation in connection with purchasing the related Certificates, from its accountants and attorneys,
and otherwise from such governmental or banking authorities or agencies to which the undersigned is subject), and such Information
will not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned or by its officers, directors,
partners, employees, agents or representatives (collectively, the “Representatives”) in any manner whatsoever,
in whole or in part; provided, however, that the obligations of the undersigned to keep any such Information confidential
shall expire one year following the date that the undersigned receives such Information (with respect to a prospective purchaser
only) or is no longer a Certificateholder, a beneficial owner or prospective purchaser of the Class of Certificates referenced
above. The undersigned will not use or disclose the Information in any manner which could result in a violation of any provision
of the Securities Act of 1933, as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as
amended, or would require registration of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

6.       The
undersigned hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined
in the Pooling and Servicing Agreement) relating to the [Excluded Loan][Excluded Controlling Class Loan](s) to the extent the undersigned
receives access to such Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such
Excluded Information in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.

 

7.       The
undersigned shall be fully liable for any breach of the terms of this certification by itself or any of its Representatives and
shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General Special Servicer, the
AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Underwriters, the Initial Purchasers, the Loan-Specific Initial Purchaser and the Trust Fund for any loss, liability or expense
incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

8.       To
the extent the undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise
receives access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly
provide any such Excluded Information to (A) the related Borrower Party, (B) any related Excluded Controlling Class Holder, (C)
any employees or personnel of the undersigned or any of its Affiliates involved in the management of any investment in the related
Borrower Party or the related Mortgaged Property or (D) to its actual knowledge, any non-Affiliate that holds a direct or indirect
ownership interest in the related Borrower Party, and (ii) will maintain sufficient internal controls and appropriate policies
and procedures in place in order to comply with the obligations described in clause (i) above.

 

    	Exhibit P-1E-3 

     

    

 

9.       The
undersigned shall be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate
Administrator’s Website, and the Certificate Administrator shall have no obligation to monitor, determine or verify whether
the undersigned has properly certified or recertified under this Investor Certification any time the undersigned accesses the Certificate
Administrator’s Website.

 

10.       The
undersigned hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the
notice provisions of the Pooling and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b)
mailed by registered mail, postage prepaid.

 

11.       The
undersigned is simultaneously providing notice to the Certificate Administrator in the form of Exhibit P-1F to the Pooling and
Servicing Agreement, requesting termination of access to any Excluded Information. The undersigned acknowledges that it is not
permitted to access and shall not access any Excluded Information relating to the [Excluded Loan][Excluded Controlling Class Loan](s)
on the Certificate Administrator’s Website unless and until it has (i) delivered notice of the termination of the related
Excluded Controlling Class Holder status and (ii) submitted a new investor certification in accordance with Section 3.13(b) of
the Pooling and Servicing Agreement.

 

12.       The
undersigned agrees to indemnify and hold harmless each party to the Pooling and Servicing Agreement, the Underwriters, the Initial
Purchasers, the Loan-Specific Initial Purchaser and the Trust Fund from any damage, loss, cost or liability (including legal fees
and expenses and the cost of enforcing this indemnity) arising out of or resulting from any unauthorized access by the undersigned
or any agent, employee, representative or person acting on its behalf of any Excluded Information relating to the [Excluded Loan][Excluded
Controlling Class Loan](s) listed in Paragraph 2 above.

 

Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused its name to
be signed hereto by its duly authorized signatory, as of the date certified.

 

    	Exhibit P-1E-4 

     

    

 

	 	[Controlling Class Representative][Holder
of the majority of the Controlling Class][Controlling Class Certificateholder][AMA Plaza Controlling Class Representative][225
Bush Street Controlling Class Representative][Holder of the majority of the AMA Plaza Controlling Class][Holder of the majority
of the 225 Bush Street Controlling Class][AMA Plaza Controlling Class Certificateholder][225 Bush Street Controlling Class Certificateholder]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1E-5 

     

    

 

EXHIBIT P-1F

 

FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER TO 

CERTIFICATE ADMINISTRATOR

 

[Date]

 

	
        Via: Email

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

trustadministrationgroup@wellsfargo.com;

cts.cmbs.bond.admin@wellsfargo.com

         

        with a copy to:

         

        Wells Fargo Bank,
National Association,

        8480 Stagecoach Circle

Frederick, Maryland 21701-4747

        Attention: GS Mortgage Securities Trust Series 2016-GS4

         

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

In accordance with Section 3.13(b) of the
Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”), the
undersigned (the “Excluded Controlling Class Holder”) hereby directs you as follows:

 

1.       The
undersigned is [the Controlling Class Representative][the Holder of the majority of the Controlling Class][a Controlling Class
Certificateholder][the AMA Plaza Controlling Class Representative][the 225 Bush Street Controlling Class Representative][the Holder
of the majority of the AMA Plaza Controlling Class][the Holder of the majority of the 225 Bush Street Controlling Class][a AMA
Plaza Controlling Class Certificateholder][a 225 Bush Street Controlling Class Certificateholder] as of the date hereof.

 

2.       The
undersigned has become a Borrower Party with respect to the following [Mortgage Loan(s)] [and] [Whole Loan(s)] (the “[Excluded
Loan][Excluded Controlling Class Loan](s)”):

 

    	Exhibit P-1F-1 

     

    

 

	Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

3.       The
following USER IDs for CTSLink are affiliated with the undersigned and access to any information on the Certificate Administrator’s
Website with respect to the GS Mortgage Securities Trust 2016-GS4 securitization should be revoked as to such users:

 

	 	 	 
	 	 	 
	 	 	 
	 	 	 

  

4.       The
undersigned acknowledges that it is not permitted to access and shall not access any Excluded Information with respect to such
[Excluded Loan][Excluded Controlling Class Loan](s) on the Certificate Administrator’s Website unless and until it (i) is
no longer an Excluded Controlling Class Holder with respect to such [Excluded Loan][Excluded Controlling Class Loan](s), (ii) has
delivered notice of the termination of the related Excluded Controlling Class Holder status and (iii) has submitted an investor
certification in the form of Exhibit P-1B to the Pooling and Servicing Agreement.

 

Capitalized terms used but not defined herein
have the respective meanings given to them in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

    	Exhibit P-1F-2 

     

    

 

	 	[Controlling Class Representative][Holder
of the majority of the Controlling Class][Controlling Class Certificateholder][AMA Plaza Controlling Class Representative][225
Bush Street Controlling Class Representative][Holder of the majority of the AMA Plaza Controlling Class][Holder of the majority
of the 225 Bush Street Controlling Class][AMA Plaza Controlling Class Certificateholder][225 Bush Street Controlling Class Certificateholder]
	 	 	 
		By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

The undersigned hereby acknowledges that

access to CTSLink has been revoked for

the users listed in Paragraph 3.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

Certificate Administrator

 

	 	 
	Name:	 
	Title:	 

 

    	Exhibit P-1F-3 

     

    

 

EXHIBIT P-1G

 

Form
of Certification of the CONTROLLING CLASS REPRESENTATIVE

 

[Date]

 

	Midland Loan Services, a Division of PNC Bank, 

National Association, 10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

	 	 
	
        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

        Email:trustadministrationgroup@wellsfargo.com;

        cts.cmbs.bond.admin@wellsfargo.com

         

        Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com
	
        Park Bridge Lender Services LLC

        600 Third Avenue, 40th Floor

        New York, New York 10016

        Attention: GSMS 2016-GS4 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

         

        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee

        Facsimile: (302) 630-4140

        Email: CMBSTrustee@wilmingtontrust.com

         

	 	 
	
        Wells Fargo Bank,
National Association,

        Sixth Street and Marquette Avenue

        Minneapolis, Minnesota 55479-0113

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4
	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com
	 	 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

    	Exhibit P-1G-1 

     

    

 

In accordance with
Section 3.23 of the Pooling and Servicing Agreement, the undersigned hereby certifies and agrees as follows:

 

1.       The
undersigned has been appointed to act as the Controlling Class Representative.

 

2.       The
undersigned is not a Borrower Party.

 

3.       If
the undersigned becomes a Borrower Party with respect to any Mortgage Loan or Whole Loan, the undersigned agrees to and shall deliver
the certification attached as Exhibit P-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the
notices attached as Exhibit P-1E and Exhibit P-1F to the Pooling and Servicing Agreement.

 

4.       [For
use with any party other than the initial Controlling Class Representative] The undersigned hereby certifies that an executed copy
of this certification in paper form has been delivered in accordance with the notice provisions of the Pooling and Servicing Agreement
to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.

 

5.       Capitalized
terms used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned shall have caused, or shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.

	 	 	 
	 	Controlling Class Representative
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

cc: GS Mortgage Securities Corporation II

 

    	Exhibit P-1G-2 

     

    

 

EXHIBIT P-2

 

FORM OF CERTIFICATION FOR NRSROs

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

 

	Attention:	Corporate Trust Services (CMBS), GS Mortgage Securities
Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

In accordance with
the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016
(the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan
Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush
Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee, with respect to the certificates (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

		1.	The undersigned is a Rating Agency hired by the Depositor to provide ratings on the Certificates;

 

		2.	The undersigned, a Nationally Recognized Statistical Rating Organization (“NRSRO”);

 

a.       has
provided the Depositor with the appropriate certifications under Exchange Act 17g-5(e);

 

b.       has
access to the Depositor’s 17g-5 website; and

 

c.       
agrees that the confidentiality agreement attached as Annex A hereto shall be applicable to the undersigned with respect to information
obtained from the Depositor’s 17g-5 website shall also be applicable to information obtained from the 17g-5 Information Provider’s
Website; or

 

		3	The undersigned either (a) has not accessed information pursuant to Rule 17g–5(a)(3) ten
(10) or more times during the most recently ended calendar year, or (b) has determined and maintained credit ratings for at least
10% of the issued securities and money market instruments for which it accessed information pursuant to Rule 17g–5(a)(3)(iii)
in the calendar year prior to the year covered by the SEC Certification, if it accessed such information for 10 or more issued
securities or money market instruments

 

The undersigned shall
be deemed to have recertified to the provisions herein each time it accesses the Information on the Certificate Administrator’s
Website and the 17g-5 Information Provider’s Website.

 

    	 	Exhibit P-2-1	 

     

    

 

Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

  

	 	[IDENTIFY
PARTY]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	Exhibit P-2-2	 

     

    

 

ANNEX A

 

CONFIDENTIALITY AGREEMENT

 

This Confidentiality
Agreement (the “Confidentiality Agreement”) is made in connection with [_____] (together with its affiliates,
the “Furnishing Entities” and each a “Furnishing Entity”) furnishing certain financial, operational,
structural and other information relating to the issuance of the GS Mortgage Securities Corporation Trust 2016-GS4, Commercial
Mortgage Pass-Through Certificates, Series 2016-GS4 (the “Certificates”) pursuant to the Pooling and Servicing
Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities
Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as
Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON
USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset
Representations Reviewer, and Wilmington Trust, National Association, as Trustee, and the assets underlying or referenced by the
Certificates, including the identity of, and financial information with respect to borrowers, sponsors, guarantors, managers and
lessees with respect to such assets (together, the “Collateral”) to you (the “NRSRO”) through
the website of Wells Fargo Bank, National Association, as 17g-5 Information Provider under the Pooling and Servicing Agreement,
including the [section of the 17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the
Closing Date (as defined in the Pooling and Servicing Agreement)]. Information provided by each Furnishing Entity is labeled as
provided by the specific Furnishing Entity.

 

Definition of Confidential
Information. For purposes of this Confidentiality Agreement, the term “Confidential Information” shall include
the following information (irrespective of its source or form of communication, including information obtained by you through access
to this site) that may be furnished to you by or on behalf of a Furnishing Entity in connection with the issuance or monitoring
of a rating with respect to the Certificates: (x) all data, reports, interpretations, forecasts, records, agreements, legal documents
and other information (such information, the “Evaluation Material”) and (y) any of the terms, conditions or
other facts with respect to the transactions contemplated by the Pooling and Servicing Agreement, including the status thereof;
provided, however, that the term Confidential Information shall not include information which:

 

		●	was or becomes generally available to the public (including through filing with the Securities
and Exchange Commission or disclosure in an offering document) other than as a result of a disclosure by you or a NRSRO Representative
(as defined below) in violation of this Confidentiality Agreement;

 

		●	was or is lawfully obtained by you from a source other than a Furnishing Entity or its representatives
that (i) is reasonably believed by you to be under no obligation to maintain the information as confidential and (ii) provides
it to you without any obligation to maintain the information as confidential; or

 

		●	is independently developed by the NRSRO without reference to any Confidential Information.

 

    	 	Exhibit P-2-3	 

     

    

 

Information to Be
Held in Confidence.

 

You will use the Confidential
Information solely for the purpose of determining or monitoring a credit rating on the Certificates and, to the extent that any
information used is derived from but does not reveal any Confidential Information, for benchmarking, modeling or research purposes
(the “Intended Purpose”).

 

You acknowledge that
you are aware that the United States and state securities laws impose restrictions on trading in securities when in possession
of material, non-public information and that the NRSRO will advise (through policy manuals or otherwise) each NRSRO Representative
who is informed of the matters that are the subject of this Confidentiality Agreement to that effect.

 

You will treat the
Confidential Information as private and confidential. Subject to the terms herein, without the prior written consent of the applicable
Furnishing Entity, you will not disclose to any person any Confidential Information, whether such Confidential Information was
furnished to you before, on or after the date of this Confidentiality Agreement. Notwithstanding the foregoing, you may:

 

		●	disclose the Confidential Information to any of the NRSRO’s affiliates, directors, officers,
employees, legal representatives, agents and advisors (each, a “NRSRO Representative”) who, in the reasonable
judgment of the NRSRO, need to know such Confidential Information in connection with the Intended Purpose; provided, that, prior
to disclosure of the Confidential Information to a NRSRO Representative, the NRSRO shall have taken reasonable precautions to ensure,
and shall be satisfied, that such NRSRO Representative will act in accordance with this Confidentiality Agreement;

 

		●	solely to the extent required for compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),post
the Confidential Information to the NRSRO’s password protected website; and

 

		●	use information derived from the Confidential Information in connection with an Intended Purpose,
if such derived information does not reveal any Confidential Information.

 

Disclosures Required
by Law. If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory, subpoena, civil
investigatory demand, request for information or documents, deposition or similar process relating to any legal proceeding, investigation,
hearing or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing Entity with notice
as soon as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation, and otherwise
to the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request to disclose
the Confidential Information has been made so that the relevant Furnishing Entity may seek an appropriate protective order or other
reasonable assurance that confidential treatment will be accorded the Confidential Information if it so chooses. Unless otherwise
required by a court or other governmental or regulatory authority to do so, and provided that you been informed by written notice
that the related Furnishing Entity is seeking a

 

    	 	Exhibit P-2-4	 

     

    

 

protective order or other reasonable assurance for confidential treatment with
respect to the requested Confidential Information, you agree not to disclose the Confidential Information while the Furnishing
Entity’s effort to obtain such a protective order or other reasonable assurance for confidential treatment is pending. You
agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order or other reasonable assurance
that confidential treatment will be accorded to the portion of the Confidential Information that is being disclosed, at the sole
expense of such Furnishing Entity; provided, however, that in no event shall the NRSRO be required to take a position
that such information should be entitled to receive such a protective order or reasonable assurance as to confidential treatment.
If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree to comply with its terms with respect
to the disclosure of the Confidential Information, at the sole expense of such Furnishing Entity. If a protective order or other
remedy is not obtained or if the relevant Furnishing Entity waives compliance with the provisions of this Confidentiality Agreement
in writing, you agree to furnish only such information as you are legally required to disclose, at the sole expense of the relevant
Furnishing Entity.

 

Obligation to Return
Evaluation Material. Promptly upon written request by or on behalf of the relevant Furnishing Entity, all material or documents,
including copies thereof, that contain Evaluation Material will be destroyed or, in your sole discretion, returned to the relevant
Furnishing Entity. Notwithstanding the foregoing, (a) the NRSRO may retain one or more copies of any document or other material
containing Evaluation Material to the extent necessary for legal or regulatory compliance (or compliance with the NRSRO’s
internal policies and procedures designed to ensure legal or regulatory compliance) and (b) the NRSRO may retain any portion of
the Evaluation Material that may be found in backup tapes or other archive or electronic media or other documents prepared by the
NRSRO and any Evaluation Material obtained in an oral communication; provided, that any Evaluation Material so retained
by the NRSRO will remain subject to this Confidentiality Agreement and the NRSRO will remain bound by the terms of this Confidentiality
Agreement.

 

Violations of this
Confidentiality Agreement.

 

The NRSRO will be responsible
for any breach of this Confidentiality Agreement by you, the NRSRO or any NRSRO Representative.

 

You agree promptly
to advise each relevant Furnishing Entity in writing of any misappropriation or unauthorized disclosure or use by any person of
the Confidential Information which may come to your attention and to take all steps reasonably requested by such Furnishing Entity
to limit, stop or otherwise remedy such misappropriation, or unauthorized disclosure or use.

 

You acknowledge and
agree that the Furnishing Entities would not have an adequate remedy at law and would be irreparably harmed in the event that any
of the provisions of this Confidentiality Agreement were not performed in accordance with their specific terms or were otherwise
breached. It is accordingly agreed that each Furnishing Entity shall be entitled to specific performance and injunctive relief
to prevent breaches of this Confidentiality Agreement and to specifically enforce the terms and provisions hereof, in addition
to any other remedy to which a Furnishing Entity may be entitled at law or in equity. It is further understood and agreed

 

    	 	Exhibit P-2-5	 

     

    

 

that
no failure to or delay in exercising any right, power or privilege hereunder shall preclude any other or further exercise of any
right, power or privilege.

 

Term. Notwithstanding
the termination or cancellation of this Confidentiality Agreement and regardless of whether the NRSRO has provided a credit rating
on a Security, your obligations under this Confidentiality Agreement will survive indefinitely.

 

Governing Law.
This Confidentiality Agreement and any claim, controversy or dispute arising under the Confidentiality Agreement, the relationships
of the parties and/or the interpretation and enforcement of the rights and duties of the parties shall be governed by and construed
in accordance with the laws of the State of New York applicable to agreements made and to be performed within such State.

 

Amendments.
This Confidentiality Agreement may be modified or waived only by a separate writing by the NRSRO and each Furnishing Entity.

 

Entire Agreement.
This Confidentiality Agreement represents the entire agreement between you and the Furnishing Entities relating to the treatment
of Confidential Information heretofore or hereafter reviewed or inspected by you. This agreement supersedes all other understandings
and agreements between us relating to such matters; provided, however, that, if the terms of this Confidentiality
Agreement conflict with another agreement relating to the Confidential Information that specifically states that the terms of such
agreement shall supersede, modify or amend the terms of this Confidentiality Agreement, then to the extent the terms of this Confidentiality
Agreement conflict with such agreement, the terms of such agreement shall control notwithstanding acceptance by you of the terms
hereof by entry into this website.

 

Contact Information.
Notices for each Furnishing Entity under this Confidentiality Agreement, shall be directed as set forth below:

 

[_____________]

 

    	 	Exhibit P-2-6	 

     

    

 

EXHIBIT P-3

 

ONLINE MARKET DATA PROVIDER CERTIFICATION

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

 

	Attention:	Corporate Trust Services (CMBS), GS Mortgage Securities
Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

This Certification has been prepared
for provision of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.
If you represent a Market Data Provider not listed herein and would like access to the information, please contact CTSLink at
866-846-4526, or at ctslink.customerservice@wellsfargo.com.

 

In accordance with
the requirements for obtaining certain information pursuant to the Pooling and Servicing Agreement, dated as of November 1, 2016
(the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan
Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush
Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee, with respect to the above-referenced certificates (the “Certificates”),
the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc.,
BlackRock Financial Management Inc., Moody’s Analytics, CMBS.com, Inc., Markit Group Limited or Thomson Reuters Corporation,
a market data provider that has been given access to the Statements to Certificateholders, CREFC® Reports and supplemental
notices on www.ctslink.com (“CTSLink”) by request
of the Depositor.

 

		2.	The undersigned agrees that each time it accesses CTSLink, the undersigned is deemed to have recertified
that the representation above remains true and correct.

 

		3.	The undersigned acknowledges and agrees that the provision to it of information and/or reports
on CTSLink is for its own use only, and agrees that it will not disseminate or otherwise make such information available to any
other person without the written consent of the Depositor.

 

		4.	The undersigned shall be fully liable for any breach of this agreement by itself or any of its
Representatives and shall indemnify the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer, the 225 Bush Street Special Servicer, the Operating Advisor, the Asset 

 

    	 	Exhibit P-3-1	 

     

    

 

		 	Representations
Reviewer and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned
or any of its Representatives.

 

		5.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the Pooling and Servicing Agreement.

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

    	 	Exhibit P-3-2	 

     

    

 

EXHIBIT Q

 

CUSTODIAN CERTIFICATION/EXCEPTION REPORT

 

[DATE]

 

To the Persons Listed on the attached Schedule A

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 

 

Ladies and Gentlemen:

 

In
accordance with Section 2.02 of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division
of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer,
Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association,
as Trustee, the undersigned, as Custodian, hereby certifies that, except as noted on the
attached Custodial Exception Report, as to each Mortgage Loan and Trust Subordinate Companion Loan listed in the Mortgage
Loan Schedule (other than any Mortgage Loan or Trust Subordinate Companion Loan paid in full
or for which a Liquidation Event has occurred) the Custodian has, subject to Sections 2.01(c), 2.02(c) and 2.02(d) of the Pooling
and Servicing Agreement, reviewed the documents delivered to it pursuant to Section 2.01 of the Pooling and Servicing Agreement
and has determined that (i) all documents specified in clauses (1), (2), (3), (4) (other than with respect to the Non-Serviced
Mortgage Loan), (5), (7), (15) and (20) (for any Mortgage Loan that is part of a Whole Loan) of the definition of “Mortgage
File” are in its possession, (ii) the recordation/filing contemplated by Section 2.01(c) of the Pooling and Servicing Agreement
has been completed (based solely on receipt by the undersigned of the particular recorded/filed documents); (iii) all documents
received by the undersigned with respect to such Mortgage Loan have been reviewed by the undersigned and (A) appear regular on
their face (handwritten additions, changes or corrections shall not constitute irregularities if initialed by the Mortgagor), (B)
appear to have been executed (where appropriate) and (C) purport to relate to such Mortgage Loan and Trust Subordinate Companion
Loan; and (iv) based on the examinations referred to in Section 2.02(a) and Section 2.02(b) of the Pooling and Servicing Agreement
and only as to the foregoing documents (together with any Loan Agreement that has been delivered by the related Mortgage Loan Seller),
the information set forth in the Mortgage Loan Schedule with respect to the items specified in clauses (iv) and (v)(B) of the definition
of “Mortgage Loan Schedule” accurately reflects the information set forth in the Mortgage File.

 

Capitalized words and
phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing Agreement.

 

    	 	Exhibit Q-1	 

     

    

 

	 	Wells Fargo Bank, National
Association, as Custodian
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	Exhibit Q-2	 

     

    

 

SCHEDULE A

 

	GS Mortgage Securities Corporation II

200 West Street 

New York, New York 10282

Attention: Leah Nivison

Fax number: (212) 428-1439

Email: leah.nivison@gs.com	
        Moody’s Investors Service, Inc. 

        7 World Trade Center 

        250 Greenwich Street

        New York, New York 10007 

        Attention: Commercial Mortgage Surveillance Group 

        E-mail: CMBSSurveillance@moodys.com 

	 	 
	Goldman Sachs Mortgage Company

200 West Street 

New York, New York 10282

Attention: Leah Nivison

Fax number: (212) 428-1439

Email: leah.nivison@gs.com	
        Fitch Ratings, Inc. 

        One State Street Plaza 

        New York, New York 10004 

        Attention: Commercial Mortgage Backed Securities Surveillance 

        Facsimile No.: (212) 635-0295 

        E-mail: info.cmbs@fitchratings.com 

	 	 
	
        Wells Fargo Bank, National Association 

        9062 Old Annapolis Road 

        Columbia, Maryland 21045-1951 

        Attention: Corporate Trust Services (CMBS) 

        GS Mortgage Securities Trust 2016-GS4 

        E Mail: cts.cmbs.bond.admin@wellsfargo.com 
	
        Kroll Bond Rating Agency, Inc. 

        845 Third Avenue, 4th Floor 

        New York, New York 10022 

        Attention: CMBS Surveillance 

        Facsimile No.: (646) 731-2395

	 	 
	
        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee 

        Facsimile: (302) 630-4140 

        Email: CMBSTrustee@wilmingtontrust.com 
	
        Midland Loan Services, a Division of PNC Bank, 

National
Association, 10851 Mastin Street, Suite 700 

        Overland Park, Kansas 66210 

        Attention: Executive Vice President – Division
Head, 

        Fax number: 1 (888) 706-3565 

	 	 
	
        S&P Global Ratings 

        55 Water Street, 41st Floor 

        New York, New York 10041 

        Attention: Commercial Mortgage Surveillance Manager 

        Email: cmbs_info_17g5@standardandpoors.com 

         

        Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor
	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE

Cedar Rapids, Iowa 52499

         

        Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com

 

    	 	Exhibit Q-3	 

     

    

 

	Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com	 

 

    	 	Exhibit Q-4	 

     

    

 

EXHIBIT R-1

 

FORM OF POWER OF ATTORNEY BY TRUSTEE

FOR MASTER SERVICER

 

RECORDING REQUESTED BY:

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Telecopy Number: (704) 715-0036

Email: commercial.servicing@wellsfargo.com 

	 

SPACE ABOVE THIS LINE FOR RECORDER’S
USE

 

LIMITED POWER OF ATTORNEY

 

KNOW ALL MEN BY THESE PRESENTS,
that Wilmington Trust, National Association, a national banking association, incorporated and existing under the laws of the United
States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890 as Trustee (the “Trustee”)
pursuant to that Pooling and Servicing Agreement dated as of November 1, 2014 (the “Agreement”) by and among
GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity,
the “Master Servicer”), as AMA Plaza special servicer (in such capacity, the “AMA Plaza Special Servicer”)
and as certificate administrator (in such capacity, the “Certificate Administrator”), Midland Loan Services,
a Division of PNC Bank, National Association, as general special servicer (the “General Special Servicer”),
AEGON USA Realty Advisors, LLC, as 225 Bush Street special servicer (the “225 Special Servicer”), Park Bridge
Lender Services LLC, as operating advisor (in such capacity, the “Operating Advisor”) and as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”) and the Trustee, hereby constitutes and appoints
the Master Servicer, by and through the Master Servicer’s officers, the Trustee’s true and lawful Attorney-in-Fact,
in the Trustee’s name, place and stead and for the Trustee’s benefit, in connection with all mortgage loans (the “Mortgage
Loans”) serviced by the Master Servicer and all properties (“Mortgaged Properties”) administered by
the Master Servicer pursuant to the Agreement, to execute and acknowledge in writing or by facsimile stamp all documents customarily
and reasonably necessary and appropriate to effectuate the enumerated transactions described in items 1 through 12 below with respect
to the Mortgage Loans and Mortgaged Properties; provided however, that the documents described below may only be executed and delivered
by such Attorneys-in-Fact if such documents are required or permitted under the Agreement. Capitalized terms used herein and not
otherwise defined herein have the meanings set forth in the Agreement.

 

    	 	Exhibit R-1-1	 

     

    

 

1.       The
endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee and
draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.

 

2.       The
modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the purpose
of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct title errors
discovered after such title insurance was issued; provided that said modification or re-recording, in either instance, (i) does
not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of the
Agreement.

 

3.       The
subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government agency
or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.

 

4.       The
conveyance of the properties to the mortgage insurer, or the closing of the title to the property to be acquired as real estate
owned, or conveyance of title to real estate owned.

 

5.       The
completion of loan assumption agreements.

 

6.       The
full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured thereby,
including, without limitation, cancellation of the related Mortgage Note.

 

7.       The
assignment of any Mortgage or deed of trust and the related Mortgage Note, in connection with the repurchase of the Mortgage Loan
secured and evidenced thereby.

 

8.       The
full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with the refinancing
thereof, including, without limitation, the assignment of the related Mortgage Note.

 

9.       The
full enforcement of and preservation of the Trustee’s interests in the Mortgage Notes, Mortgages or deeds of trust, and in
the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed in lieu of foreclosure, or the
completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any such foreclosure, the
initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination, cancellation or
rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and claims in bankruptcy
proceedings, including, without limitation, any and all of the following acts:

 

a.       the
substitution of trustee(s) serving under a deed of trust, in accordance with state law and the deed of trust;

 

b.       the
preparation and issuance of statements of breach or non-performance;

 

    	 	Exhibit R-1-2	 

     

    

 

c.       the
preparation and filing of notices of default and/or notices of sale;

 

d.       the
cancellation/rescission of notices of default and/or notices of sale;

 

e.       the
taking of deed in lieu of foreclosure;

 

f.       the
filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy cases affecting Mortgage Notes,
Mortgages or deeds of trust;

 

g.       the
preparation and service of notices to quit and all other documents necessary to initiate, prosecute and complete eviction actions
or proceedings;

 

h.       the
tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance claims, including but not limited
to appearing on behalf of the Trustee in quiet title actions; and

 

i.       the
preparation and execution of such other documents and performance of such other actions as may be necessary under the terms of
the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs 9.a. through 9.h. above.

 

10.           With
respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation, the
execution of the following documentation:

 

a.       listing
agreements;

 

b.       purchase
and sale agreements;

 

c.       grant/warranty/quit
claim deeds or any other deed causing the transfer of title of the property to a party contracted to purchase same;

 

d.       escrow
instructions; and

 

e.       any
and all documents necessary to effect the transfer of property.

 

11.           The
modification or amendment of escrow agreements established for repairs to the Mortgaged Property or reserves for replacement of
personal property.

 

12.           The
execution and delivery of the following:

 

a.       any
and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien created
by the Mortgage, deed of trust or other security document in the related Mortgage File or the related Mortgaged Property and other
related collateral;

 

b.       any
and all instruments of satisfaction or cancellation, or of partial or full release or discharge, or of partial or full defeasance,
and all other comparable instruments; and

 

c.       any
and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to transfers of interests in borrowers,
consents to any subordinate

 

    	 	Exhibit R-1-3	 

     

    

 

financings to be secured by any related Mortgaged Property, consents to any mezzanine financing to
be secured by the ownership interests in a borrower, consents to and monitoring of the application of any proceeds of insurance
policies or condemnation awards to the restoration of the related Mortgaged Property or otherwise, documents relating to the management,
operation, maintenance, repair, leasing and marketing of the related Mortgaged Properties (including agreements and requests by
any borrower with respect to modifications of the standards of operation and management of such Mortgaged Properties or the replacement
of asset managers), documents exercising any or all of the rights, powers and privileges granted or provided to the holder of any
Mortgage Loan under the related loan documents, lease subordination agreements, non-disturbance and attornment agreements or other
leasing or rental arrangements, any easements, covenants, conditions, restrictions, equitable servitudes, or land use or zoning
requirements with respect to the Mortgaged Properties, instruments relating to the custody of any collateral that now secures or
hereafter may secure any Mortgage Loan and any other consents.

 

The undersigned gives
said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every act and thing necessary
and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned
might or could do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth
below.

 

This appointment is to
be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is
not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

Solely to the extent
that the Master Servicer has the power to delegate its rights or obligations under the Agreement, the Master Servicer also has
the power to delegate the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power
of Attorney, for purposes of performing its obligations and duties by executing such additional powers of attorney in favor of
its attorneys-in-fact as are necessary for such purpose. The Master Servicer’s attorneys-in-fact shall have no greater authority
than that held by the Master Servicer.

 

Nothing contained herein
shall: (i) limit in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights
and protections afforded the Trustee under the Agreement, or (iii) be construed to grant the Master Servicer the power to initiate
or defend any suit, litigation or proceeding in the name of Wilmington Trust, National Association except as specifically provided
for herein. If the Master Servicer receives any notice of suit, litigation or proceeding in the name of Wilmington Trust, National
Association, then the Master Servicer shall promptly forward a copy of same to the Trustee.

 

This limited power of
attorney is not intended to extend the powers granted to the Master Servicer under the Agreement or to allow the Master Servicer
to take any action with respect to Mortgages, deeds of trust or Mortgage Notes not authorized by the Agreement.

 

The Master Servicer hereby
agrees to indemnify and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or

 

    	 	Exhibit R-1-4	 

     

    

 

nature whatsoever incurred by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney
by the Master Servicer. The foregoing indemnity shall survive the termination of this Limited Power of Attorney and the Agreement
or the earlier resignation or removal of the Trustee under the Agreement.

 

This Limited Power of
Attorney is entered into and shall be governed by the laws of the State of New York, without regard to conflicts of law principles
of such state.

 

Third parties without
actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this
Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has
been made in writing by the undersigned.

 

IN WITNESS WHEREOF, Wilmington
Trust, National Association, as Trustee for GS Mortgage Securities Trust 2016-GS4 has caused its corporate seal to be hereto affixed
and these presents to be signed and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________
day of ____________.

 

	 	Wilmington Trust, National Association, 

as Trustee for GS Mortgage Securities Trust
2016-GS4
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Prepared by:
	 	 	 
	 	 	Name:

 

	Witness:
	 
	 
	Witness:
	 

 

State of Delaware} 

County of ____}

 

    	 	Exhibit R-1-5	 

     

    

 

On ________________________, before me,

_________________________________Notary Public, personally appeared

___________________________, who proved to me on the basis of 

satisfactory evidence to be the person whose name is subscribed
to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her
signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State
of Delaware that the foregoing paragraph is true and correct.

Witness my hand and official seal.

 

_________________________________

 

Notary signature

 

    	 	Exhibit R-1-6	 

     

    

 

EXHIBIT R-2

 

FORM OF POWER OF ATTORNEY BY TRUSTEE

FOR [GENERAL SPECIAL SERVICER] [AMA PLAZA SPECIAL SERVICER] [225 

BUSH STREET SPECIAL SERVICER]

 

RECORDING REQUESTED BY:

 

Midland Loan Services, a Division of PNC Bank, National Association, 

10851 Mastin Street, Suite 700 

Overland Park, Kansas 66210 

Attention: Executive Vice President – Division Head, 

Fax number: (888) 706-3565

 

Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com

 

AEGON USA Realty Advisors, LLC 

4333 Edgewood Road, NE, 

Cedar Rapids, Iowa 52499 

	 

SPACE ABOVE THIS LINE FOR RECORDER’S
USE

 

LIMITED POWER OF ATTORNEY

 

KNOW ALL MEN BY THESE PRESENTS, that Wilmington Trust, National
Association, a national banking association, incorporated and existing under the laws of the United States, having its usual place
of business at 1100 North Market Street, Wilmington, Delaware 19890 as Trustee (the “Trustee”) pursuant to that
Pooling and Servicing Agreement dated as of November 1, 2016 (the “Agreement”) by and among GS
Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as master servicer (in such capacity, the “Master Servicer”), as AMA Plaza special servicer (in such capacity,
the “AMA Plaza Special Servicer”) and as certificate administrator (in such capacity, the “Certificate
Administrator”), Midland Loan Services, a Division of PNC Bank, National Association, as general special servicer (the
“General Special Servicer”), AEGON USA Realty Advisors, LLC, as 225 Bush Street special servicer (the “225
Special Servicer”), Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating
Advisor”) and as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”)
and the Trustee, hereby constitutes and appoints the Special Servicer,

 

    	 	Exhibit R-2-1	 

     

    

 

by and through the Special Servicer officers, the
Trustee’s true and lawful Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit,
in connection with all mortgage loans (the “Mortgage Loans”) serviced by the [General Special Servicer][AMA
Plaza Special Servicer][225 Bush Street Special Servicer] and all properties (“REO Properties”) administered
by the [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer] pursuant to the Agreement, to execute
and acknowledge in writing or by facsimile stamp all documents customarily and reasonably necessary and appropriate to effectuate
the enumerated transactions described in items 1 through 13 below with respect to the Mortgage Loans and REO Properties; provided
however, that the documents described below may only be executed and delivered by such Attorneys-in-Fact if such documents are
required or permitted under the Agreement. Capitalized terms used herein and not otherwise defined herein have the meanings set
forth in the Agreement.

 

1.       The
endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee and
draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.

 

2.       The
modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the purpose
of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct title errors
discovered after such title insurance was issued; provided that said modification or re-recording, in either instance, (i) does
not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of the
Agreement.

 

3.       The
subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government agency
or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.

 

4.       The
conveyance of the properties to the mortgage insurer, or the closing of the title to the property to be acquired as real estate
owned, or conveyance of title to real estate owned.

 

5.       The
completion of loan assumption agreements and transfers of interest in borrower entities.

 

6.       The
full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured thereby,
including, without limitation, cancellation of the related Mortgage Note.

 

7.       The
assignment of any Mortgage or deed of trust and the related Mortgage Note, in connection with the purchase or repurchase of the
Mortgage Loan secured and evidenced thereby.

 

    	 	Exhibit R-2-2	 

     

    

 

8.       The
full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with the refinancing
thereof, including, without limitation, the assignment of the related Mortgage Note.

 

9.       The
full enforcement of and preservation of the Trustee’s interests in the Mortgage Notes, Mortgages or deeds of trust, and in
the proceeds thereof, by way of, including but not limited to, taking title to any Mortgaged Property on behalf of the Trust, foreclosure,
the taking of a deed in lieu of foreclosure, or the completion of judicial or non-judicial foreclosure and/or any related litigation,
including without limitation, guaranty or receivership litigation, or litigation on the note, or the termination, cancellation
or rescission of any such foreclosure, the initiation, prosecution and completion of eviction actions or proceedings with respect
to, or the termination, cancellation or rescission of any such eviction actions or proceedings, the initiation or defense of any
litigation related to the ownership of any REO Property, and the pursuit of title insurance, hazard insurance and claims in bankruptcy
proceedings, including, without limitation, any and all of the following acts:

 

		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and
the deed of trust;

 

		b.	the preparation and issuance of statements of breach or non-performance;

 

		c.	the preparation and filing of notices of default and/or notices of sale;

 

		d.	the cancellation/rescission of notices of default and/or notices of sale;

 

		e.	the taking of deed in lieu of foreclosure;

 

		f.	the filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy
cases affecting Mortgage Notes, Mortgages or deeds of trust;

 

		g.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute
and complete eviction actions or proceedings;

 

		h.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance
claims, including but not limited to appearing on behalf of the Trustee in quiet title actions;

 

		i.	the creation of a wholly-owned entity of the Trust for purposes of holding foreclosed property;
and

 

		j.	the preparation and execution of such other documents and performance of such other actions as
may be necessary under the terms of the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs
9.a. through 9.i. above.

 

    	 	Exhibit R-2-3	 

     

    

 

10.       With
respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation, the
execution of the following documentation:

 

		a.	listing agreements;

 

		b.	purchase and sale agreements;

 

		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property
to a party contracted to purchase same;

 

		d.	escrow instructions; and

 

		e.	any and all documents necessary to effect the transfer of property.

 

11.       The
modification or amendment of escrow agreements established for repairs to the mortgaged property or reserves for replacement of
personal property.

 

12.       Execute
and/or file such documents and take such other action as is proper and necessary to defend the Trustee, solely in its capacity
as Trustee, in litigation and to resolve such litigation, provided that such resolution shall not include any admission of fault
or wrongdoing by the Trustee or, without the Trustee’s consent, subject the Trustee to any form of injunctive relief.

 

13.       The
execution and delivery of the following:

 

		a.	any and all financing statements, continuation statements and other documents or instruments necessary
to maintain the lien created by the Mortgage, deed of trust or other security document in the related Mortgage File or the related
Mortgaged Property and other related collateral;

 

		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge,
or of partial or full defeasance, and all other comparable instruments;

 

		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents
to transfers of interests in borrowers, consents to any subordinate financings to be secured by any related Mortgaged Property,
consents to any mezzanine financing to be secured by the ownership interests in a borrower, consents to and monitoring of the application
of any proceeds of insurance policies or condemnation awards to the restoration of the related Mortgaged Property, REO Property
or otherwise, documents relating to the management, operation, maintenance, repair, leasing and marketing of the related Mortgaged
Properties (including agreements and requests by any borrower with respect to modifications of the standards of operation and management
of such Mortgaged Properties or the replacement of asset managers) or REO Properties, documents exercising any or all of the rights,
powers and privileges granted or provided to the holder of any Mortgage Loan 

 

    	 	Exhibit R-2-4	 

     

    

 

	 	 	under the related loan documents, lease subordination
agreements, non-disturbance and attornment agreements or other leasing or rental arrangements, management agreements, any easements,
covenants, conditions, restrictions, equitable servitudes, or land use or zoning requirements with respect to the Mortgaged Properties
or REO Properties, instruments relating to the custody of any collateral that now secures or hereafter may secure any Mortgage
Loan and any other consents; and

 

		d.	any and all documents, instruments and certifications as are reasonably necessary to complete or
accomplish the Special Servicer’s duties and responsibilities under the Agreement.

 

The undersigned gives
said Attorney-in-Fact full power and authority to execute such instruments and to do and perform all and every act and thing necessary
and proper to carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned
might or could do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth
below.

 

This appointment is to
be construed and interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is
not intended to, nor does it give rise to, and it is not to be construed as a general power of attorney.

 

Solely to the extent
that the [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer] has the power to delegate its
rights or obligations under the Agreement, the [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer]
also has the power to delegate the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited
Power of Attorney, for purposes of performing its obligations and duties by executing such additional powers of attorney in favor
of its attorneys-in-fact as are necessary for such purpose. The [General Special Servicer’s][AMA Plaza Special Servicer’s][225
Bush Street Special Servicer’s] attorneys-in-fact shall have no greater authority than that held by the [General Special
Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer].

 

Nothing contained herein
shall: (i) limit in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights
and protections afforded the Trustee under the Agreement, or (iii) be construed to grant the [General Special Servicer][AMA Plaza
Special Servicer][225 Bush Street Special Servicer] the power to initiate or defend any suit, litigation or proceeding in the name
of Wilmington Trust, National Association except as specifically provided for herein. If the [General Special Servicer][AMA Plaza
Special Servicer][225 Bush Street Special Servicer] receives any notice of suit, litigation or proceeding in the name of Wilmington
Trust, National Association, then the [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer]
shall promptly forward a copy of same to the Trustee.

 

This limited power of
attorney is not intended to extend the powers granted to the [General Special Servicer][AMA Plaza Special Servicer][225 Bush Street
Special Servicer] under the Agreement or to allow the [General Special Servicer][AMA Plaza Special Servicer][225 Bush

 

    	 	Exhibit R-2-5	 

     

    

 

Street Special
Servicer] to take any action with respect to Mortgages, deeds of trust or Mortgage Notes not authorized by the Agreement.

 

The [General Special
Servicer][AMA Plaza Special Servicer][225 Bush Street Special Servicer] hereby agrees to indemnify and hold the Trustee and its
directors, officers, employees and agents harmless from and against any and all liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by reason or result of the
negligent use, or negligent or willful misuse, of this Limited Power of Attorney by the [General Special Servicer][AMA Plaza Special
Servicer][225 Bush Street Special Servicer]. The foregoing indemnity shall survive the termination of this Limited Power of Attorney
and the Agreement or the earlier resignation or removal of the Trustee under the Agreement.

 

This Limited Power of
Attorney is entered into and shall be governed by the laws of the State of New York, without regard to conflicts of law principles
of such state.

 

Third parties without
actual notice may rely upon the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this
Limited Power of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has
been made in writing by the undersigned.

 

IN WITNESS WHEREOF, Wilmington
Trust, National Association, as Trustee for GS Mortgage Securities Trust 2016-GS4 has caused its corporate seal to be hereto affixed
and these presents to be signed and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________
day of ____________.

 

	 	Wilmington Trust, National Association, 

as Trustee for GS Mortgage Securities Trust
2016-GS4
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

  

	Witness:
	 
	 
	Witness:
	 

 

    	 	Exhibit R-2-6	 

     

    

 

State of Delaware}

 

County of ____}

 

On ________________________, before me,

_________________________________Notary Public, personally appeared 

___________________________, who proved to me on the basis of 

satisfactory evidence to be the person whose name is subscribed
to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity and that by his/her
signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State
of Delaware that the foregoing paragraph is true and correct.

 

    	 	Exhibit R-2-7	 

     

    

 

Witness my hand and official seal.

_________________________________

Notary signature

 

    	 	Exhibit R-2-8	 

     

    

 

EXHIBIT S

 

INITIAL COMPANION HOLDERS 

 

	Loan	Companion Holder
	AMA Plaza	
        NOTE A-2; NOTE B:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

200 West Street

        New York, New York 10282

        Attention: Leah Nivison

         

        NOTE C

         

        SHBNPP GLOBAL PROFESSIONAL INVESTMENT TYPE PRIVATE REAL ESTATE
        INVESTMENT TRUST NO.6

         

        NOTICE ADDRESS:

         

        SHBNPP GLOBAL PROFESSIONAL INVESTMENT TYPE PRIVATE
REAL ESTATE INVESTMENT TRUST NO.6

c/o Shinhan BNP Paribas Asset Management Co., Ltd.

Shinhan Investment Tower 19th Floor, 70 Yeoui-daero, Youngdeungpo-gu, Seoul, 07325, Republic of Korea

Attention: Ju Hyun Kim

Fax number: +822 761-1286

Email: juhyun.kim@shbnppam.com 

	225 Bush Street	
        NOTE A-2; NOTE B:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

 

     Exhibit S-1

     

    

 

	 	
        200 West Street

        New York, New York 10282

        Attention: Leah Nivison

	540 West Madison	
        NOTE A-1; NOTE B:

         

        Wells Fargo Bank, National Association, as Trustee, for the
        Benefit of the Registered Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
        Series 2016-GS3

         

        NOTICE ADDRESS:

         

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS), GS Mortgage Securities Trust 2016-GS3

        Email: cts.cmbs.bond.admin@wellsfargo.com;

        trustadministrationgroup@wellsfargo.com

         

        NOTE C:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

200 West Street

        New York, New York 10282

         

        Attention: Leah Nivison

         

	U.S. Industrial Portfolio	
        NOTE A-1:

         

        Wells Fargo Bank, National Association, as Trustee, for the
        Benefit of the Registered Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
        Series 2016-GS3

         

        NOTICE ADDRESS:

         

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

 

     Exhibit S-2

     

    

 

	 	
        Attention: Corporate Trust Services (CMBS), GS Mortgage Securities Trust 2016-GS3

        Email: cts.cmbs.bond.admin@wellsfargo.com;

        trustadministrationgroup@wellsfargo.com

         

        NOTE A-3; NOTE A-4:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

200 West Street

        New York, New York 10282

         

        Attention: Leah Nivison

         

	Simon Premium Outlets	
        NOTE A-2:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

200 West Street

        New York, New York 10282

         

        Attention: Leah Nivison

         

	Hamilton Place	
        NOTE A-1:

         

        Wells Fargo Bank, National Association, as Trustee, for the
        Benefit of the Registered Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
        Series 2016-GS3

         

        NOTICE ADDRESS:

         

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS), GS Mortgage Securities Trust 2016-GS3

        Email: cts.cmbs.bond.admin@wellsfargo.com;

        trustadministrationgroup@wellsfargo.com

         

 

     Exhibit S-3

     

    

 

	 	 
	Embassy Suites Portland Airport	
        NOTE A-1:

         

        Wells Fargo Bank, National Association, as Trustee, for the
        Benefit of the Registered Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
        Series 2016-GS3

         

        NOTICE ADDRESS:

         

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS), GS Mortgage Securities Trust 2016-GS3

        Email: cts.cmbs.bond.admin@wellsfargo.com;

        trustadministrationgroup@wellsfargo.com

         

	Residence Inn and SpringHill Suites North Shore	
        NOTE A-1:

         

        Wells Fargo Bank, National Association, as Trustee, for the
        Benefit of the Registered Holders of the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates,
        Series 2016-GS2

         

        NOTICE ADDRESS:

         

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045

        Attention: CMBS – GS 2016-GS2

        Email: cts.cmbs.bond.admin@wellsfargo.com;

        trustadministrationgroup@wellsfargo.com

         

        NOTE A-2-1:

         

        Goldman Sachs Mortgage Company

         

        NOTICE ADDRESS:

         

        Goldman Sachs Mortgage Company

200 West Street

        New York, New York 10282

 

     Exhibit S-4

     

    

 

	 	Attention: Leah Nivison

 

     Exhibit S-5

     

    

 

EXHIBIT T

 

FORM OF NOTICE RELATING
TO THE NON-SERVICED MORTGAGE LOANS

 

[Date]

	[Other Trustee]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]	[Other Certificate Administrator]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]
	[Other Master Servicer]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]	[Other Special Servicer]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]
	[Other Operating Advisor]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]	[Other Asset Representations Reviewer]

[Address Line 1]

[Address Line 2]

Attn: [Contact Person]

 

		Re:	[Other Securitization Trust]

 

Ladies and Gentlemen:

 

Reference is hereby
made to the [Trust][Pooling] and Servicing Agreement, dated as of [_____] (the “Other Pooling and Servicing Agreement”),
by and among [_____], as Depositor, [_____], as Master Servicer, [_____], as Special Servicer, [_____], as Certificate Administrator
and as Trustee, and [_____], as Operating Advisor and Asset Representations Reviewer. Capitalized terms used but not defined herein
shall have the meanings given to them (or an analogous term) in the Other Pooling and Servicing Agreement.

 

The undersigned is the
certificate administrator under the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “GS4 PSA”),
by and among GS Mortgage Securities Corporation II, as depositor, Wells Fargo Bank, National Association, as master servicer (in
such capacity, the “Master Servicer”), as AMA Plaza special servicer (in such capacity, the “AMA Plaza
Special Servicer”) and as certificate administrator (in such capacity, the “Certificate Administrator”),
Midland Loan Services, a Division of PNC Bank, National Association, as general special servicer (the “General Special
Servicer”), AEGON USA Realty Advisors, LLC, as 225 Bush Street special servicer (the “225 Special Servicer”),
Park Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating Advisor”) and as asset
representations reviewer (in such capacity, the “Asset Representations Reviewer”), and Wilmington Trust, National
Association, as trustee (the “Trustee”), pursuant to which the GS Mortgage Securities Trust 2016-GS4 (the “GS4
Trust”) was established and the [540 West

 

    Exhibit T-1

     

    

 

Madison][U.S. Industrial Portfolio][Hamilton Place][Embassy Suites Portland][Residence
Inn and SpringHill Suites North Shore] Companion Loan was transferred to the GS4 Trust as of November 30, 2016 (the “Closing
Date”).

 

The undersigned hereby
notifies you that, as of the Closing Date:

 

1.           Wilmington
Trust, National Association, as trustee under the GS4 PSA, is the holder of the [540 West Madison][U.S. Industrial Portfolio][Hamilton
Place][Embassy Suites Portland][Residence Inn and SpringHill Suites North Shore] Companion Loan.

 

2.           You
are directed to remit to Wells Fargo Bank, National Association, as master servicer under the GS4 PSA, all amounts payable to,
and to forward, deliver or otherwise make available, as the case may be, to Wells Fargo Bank, National Association, as master servicer
under the GS4 PS4, all reports, statements, documents, communications and other information that are to be forwarded, delivered
or otherwise made available to, the holder of the [540 West Madison][U.S. Industrial Portfolio][Hamilton Place][Embassy Suites
Portland][Residence Inn and SpringHill Suites North Shore] Companion Loan, under the [Other Pooling and Servicing Agreement], and
the [540 West Madison][U.S. Industrial Portfolio][Hamilton Place][Embassy Suites Portland][Residence Inn and SpringHill Suites
North Shore] Companion Loan Co-Lender Agreement, as applicable.

 

The [540 West Madison][U.S.
Industrial Portfolio][Hamilton Place][Embassy Suites Portland][Residence Inn and SpringHill Suites North Shore] Mortgage Loan [is][is
not] a Significant Obligor (as such term is defined in the GS4 PSA) under the GS4 PSA.

 

3.            The
contact information for the GS4 Trustee, the GS4 Certificate Administrator, the GS4 Master Servicer, the GS4 Special Servicer,
and the Companion Loan Holder Representative with respect to the [540 West Madison][U.S. Industrial Portfolio][Hamilton Place][Embassy
Suites Portland][Residence Inn and SpringHill Suites North Shore] Companion Loan are as follows:

	
        GS4 Trustee:

         
	 	
        Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee

        Facsimile: (302) 630-4140

        Email: CMBSTrustee@wilmingtontrust.com

	GS4 Certificate Administrator:	 	
        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS4

	GS4 Master Servicer:	 	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

 

    Exhibit T-2

     

    

 

	 	 	Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com
	GS4 General Special Servicer:	 	
        Midland Loan Services, a Division of PNC Bank, National
Association

        10851 Mastin Street, Suite 700

        Overland Park, Kansas 66210

        Attn: Executive Vice President – Division Head

	GS4 AMA Plaza Special Servicer	 	Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com
	GS4 225 Bush Street  Special Servicer	 	
        AEGON USA Realty Advisors, LLC

        4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

	[540 West Madison][U.S. Industrial Portfolio][Hamilton Place][Embassy Suites Portland] Companion Loan Holder Representative	 	
        Wells Fargo Bank, National Association

9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS3

	[Residence Inn and SpringHill Suites North Shore] Companion Loan Holder Representative	 	
        Wells Fargo Bank, National Association

9062 Old Annapolis Road

        Columbia, Maryland 21045-1951

        Attention: Corporate Trust Services (CMBS)

        GS Mortgage Securities Trust 2016-GS2

 

4.            The
GS4 Trust is subject to the reporting requirements of the Securities Exchange Act of 1934, as it may be amended from time to time.

 

5.            A
copy of an executed version of the GS4 PSA will be available upon request.

 

	 	Very truly yours,
	 	 	 	 
	 	 	By: 	 
	 	 	Name: 	
	 	 	Title:	

 

    Exhibit T-3

     

    

 

EXHIBIT U

 

FORM OF NOTICE AND CERTIFICATION

REGARDING DEFEASANCE OF MORTGAGE LOAN

 

To: 

 

	Moody’s Investors Service, Inc.

7 World Trade Center

250 Greenwich Street

New York, New York  10007

Attention:  Commercial Mortgage Surveillance Group

E-mail:  CMBSSurveillance@moodys.com	Kroll Bond Rating Agency, Inc.

845 Third Avenue, 4th Floor

New York, New York  10022

Attention:  CMBS Surveillance

Facsimile No.:  (646) 731-2395
	Fitch Ratings, Inc.

One State Street Plaza

New York, New York 10004

Attention:  Commercial Mortgage Backed Securities Surveillance

Facsimile No.:  (212) 635-0295

E-mail: info.cmbs@fitchratings.com	
        S&P Global Ratings

        55 Water Street, 41st Floor

        New York, New York 10041

        Attention: Commercial Mortgage Surveillance
Manager

        Email: cmbs_info_17g5@standardandpoors.com

         

 

		From:	Wells Fargo Bank, National Association, in its capacity as Master Servicer under the Pooling and Servicing
Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities
Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as
Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON
USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset
Representations Reviewer, and Wilmington Trust, National Association, as Trustee.

 

		Date:	_________, 20___

 

    Exhibit U-1

     

    

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

[Mortgage Loan (the “Mortgage Loan”)][Trust Subordinate Companion Loan (the “Trust Subordinate Companion
Loan”] identified by loan number _____ on the Mortgage Loan Schedule attached to the Pooling and Servicing Agreement
and heretofore secured by the Mortgaged Properties identified on the Mortgage Loan Schedule by the following names:____________________

       ____________________

 

Reference is made to
the Pooling and Servicing Agreement described above. Capitalized terms used but not defined herein have the meanings assigned to
such terms in the Pooling and Servicing Agreement.

 

As Master Servicer under
the Pooling and Servicing Agreement, we hereby:

 

(a)   Notify
you that the Mortgagor has consummated a defeasance of the [Mortgage Loan][Trust Subordinate Companion Loan] pursuant to the terms
of the [Mortgage Loan][Trust Subordinate Companion Loan], of the type checked below:

 

____ a full defeasance of the
entire principal balance of the [Mortgage Loan][Trust Subordinate Companion Loan]; or

 

____ a partial defeasance of
a portion of the principal balance of the [Mortgage Loan][Trust Subordinate Companion Loan] that represents and, an allocated loan
amount of $____________ or _______% of the entire principal balance of the [Mortgage Loan][Trust Subordinate Companion Loan];

 

(b)   Certify
that each of the following is true, subject to those exceptions set forth with explanatory notes on Exhibit A hereto, which
exceptions the Master Servicer has determined, consistent with the Servicing Standards, will have no material adverse effect on
the [Mortgage Loan][Trust Subordinate Companion Loan] or the defeasance transaction:

 

(i)         The
Mortgage Loan documents permit the defeasance, and the terms and conditions for defeasance specified therein were satisfied in
all material respects in completing the defeasance.

 

(ii)        The
defeasance was consummated on __________, 20__.

 

(iii)       The
defeasance collateral consists of securities that (i) constitute “government securities” as defined in Section 2(a)(16)
of the Investment Company Act of 1940 as amended (15 U.S.C. 80A1), (ii) are listed as “Qualified Investments for ‘AAA’
Financings” under Paragraphs 1, 2 or 3 of “Cash Flow Approach” in Standard & Poor’s Public Finance
Criteria 2000, as amended to the date of the defeasance, (iii) if they include a principal obligation, the principal due at maturity
cannot vary or change, and (iv) are not subject to prepayment, call or early redemption.

 

    Exhibit U-2

     

    

 

(iv)       The
Master Servicer received an opinion of counsel (from counsel approved by the Master Servicer in accordance with the Servicing Standard)
that the defeasance will not result in an Adverse REMIC Event.

 

(v)        The
Master Servicer determined that the defeasance collateral will be owned by an entity (the “Defeasance Obligor”)
that is a Single-Purpose Entity (as defined in Standard & Poor’s Structured Finance Ratings Real Estate Finance
Criteria, as amended to the date of the defeasance (the “S&P Criteria”)) or is subject to restrictions in
its organizational documents substantially similar to those contained in the organization documents of the original Borrower with
respect to bankruptcy remoteness and single purpose as of the date of the defeasance, and after the defeasance owns no assets other
than the defeasance collateral and real property securing [Mortgage Loans][Trust Subordinate Companion Loans] included in the pool.

 

(vi)       The
defeasance documents require the crediting of the defeasance collateral to an Eligible Account (as defined in the S&P Criteria)
in the name of the Trustee on behalf of the Trust, which account is maintained as a securities account by a securities intermediary
and has been pledged to the Trustee on behalf of the Trust.

 

(vii)      The
agreements executed in connection with the defeasance (i) grant control of the pledged securities account to Trustee on behalf
of the Trust, (ii) require the securities intermediary to make the scheduled payments on the [Mortgage Loan][Trust Subordinate
Companion Loan] from the proceeds of the defeasance collateral directly to the Master Servicer’s collection account in the
amounts and on the dates specified in the Mortgage Loan documents or, in a partial defeasance, the portion of such scheduled payments
attributed to the allocated loan amount for the real property defeased, increased by any defeasance premium specified in the Mortgage
Loan documents (the “Scheduled Payments”), (iii) permit reinvestment of proceeds of the defeasance collateral
only in Permitted Investments (as defined in the Pooling and Servicing Agreement or as defined in the documents evidencing the
defeasance), (iv) permit release of surplus defeasance collateral and earnings on reinvestment from the pledged securities account
only after the [Mortgage Loan][Trust Subordinate Companion Loan] has been paid in full, if any such release is permitted, (v) prohibit
transfers by the Defeasance Obligor of the defeasance collateral and subordinate liens against the defeasance collateral, and (vi)
provide for payment from sources other than the defeasance collateral or other assets of the Defeasance Obligor of all fees and
expenses of the securities intermediary for administering the defeasance and the securities account and all fees and expenses of
maintaining the existence of the Defeasance Obligor.

 

(viii)     The
Master Servicer received written confirmation from a firm of independent certified public accountants, who were approved by the
Master Servicer in accordance with the Servicing Standard stating that (i) revenues from the defeasance collateral (without taking
into account any earnings on reinvestment of such revenues) will be sufficient to timely pay each of the Scheduled Payments after
the defeasance including the payment in full of the [Mortgage Loan][Trust Subordinate Companion Loan] (or the allocated portion
thereof in connection with a partial defeasance) on its Maturity Date (or, in the case of an ARD Loan, on its Anticipated Repayment
Date), (ii)

 

    Exhibit U-3

     

    

 

the revenues received in any month from the defeasance collateral will be applied to make Scheduled Payments within
four (4) months after the date of receipt, and (iii) interest income from the defeasance collateral to the Defeasance Obligor in
any calendar or fiscal year will not exceed such Defeasance Obligor’s interest expense for the [Mortgage Loan][Trust Subordinate
Companion Loan] (or the allocated portion thereof in a partial defeasance) for such year.

 

(ix)       The
Mortgage Loan is not among the ten (10) largest loans in the pool as of the date of the Current Report (as defined below). The
entire principal balance of the Mortgage Loan as of the date of defeasance was less than both $[______] and five percent of pool
balance, which is less than [__]% of the aggregate Certificate Balance of the Certificates as of the date of the most recent Distribution
Date Statement received by us (the “Current Report”).

 

(x)        The
Master Servicer has received opinions of counsel stating that the Trustee on behalf of the Trust possesses a valid, perfected first
priority security interest in the defeasance collateral and that the documents executed in connection with the defeasance are enforceable
in accordance with their respective terms.

 

(c)        Certify
that Exhibit B hereto is a list of the material agreements, instruments, organizational documents for the Defeasance Obligor,
and opinions of counsel and independent accountants executed and delivered in connection with the defeasance.

 

(d)        Certify that
the individual under whose hand the Master Servicer has caused this Notice and Certification to be executed did constitute a Servicing
Officer as of the date of the defeasance described above.

 

(e)        Agree to provide
copies of all items listed in Exhibit B to you upon request.

 

    Exhibit U-4

     

    

 

IN WITNESS WHEREOF,
the Master Servicer has caused this Notice and Certification to be executed as of the date captioned above.

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    Exhibit U-5

     

    

 

EXHIBIT V

 

FORM OF OPERATING ADVISOR
ANNUAL REPORT1

 

Report Date: This
report will be delivered annually no later than [INSERT DATE], pursuant to the terms and conditions of the Pooling and Servicing
Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS Mortgage Securities Corporation
II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate
Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty
Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations
Reviewer, and Wilmington Trust, National Association, as Trustee.

Transaction: GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

Operating Advisor: Park Bridge Lender Services LLC

General Special Servicer: Midland Loan Servicer, a Division of PNC Bank, National Association

AMA Plaza Special Servicer:
Wells Fargo Bank, National Association

225 Bush Street Special
Servicer: AEGON USA Realty Advisors, LLC

Directing Holder: [_______]

 

		I.	Population of Mortgage
Loans that Were Considered in Compiling this Report

 

		1.	The Special Servicer has notified the Operating Advisor
that [●] Specially Serviced Loans were transferred to special servicing in the prior calendar year [INSERT YEAR].

 

		a.	[●] of those Specially Serviced Loans are still being analysed by the Special Servicer as part of the development of
an Asset Status Report.

 

		b.	Asset Status Reports were issued with respect to [●] of such Specially Serviced Loans. This report is based only on the
Specially Serviced Loans in respect of which an Asset Status Report has been issued. The Asset Status Reports may not yet be fully
implemented.

 

		II.	Executive Summary

 

Based on the requirements
and qualifications set forth in the Pooling and Servicing Agreement, as well as the items listed below, the Operating Advisor (in
accordance with the Operating Advisor’s analysis requirements outlined in the Pooling and Servicing Agreement) has undertaken
a limited review of the Special Servicer’s operational activities to service certain Specially Serviced Loans in accordance
with the Servicing Standard. Based on

 

 

 

1
This report is an indicative report and does not reflect the final form of annual report to be used in any particular year. The
Operating Advisor will have the ability to modify or alter the organization and content of any particular report, subject to the
compliance with the terms of the Pooling and Servicing Agreement, including, without limitation, provisions relating to Privileged
Information.

 

    Exhibit V-1

     

    

 

such limited review, the Operating Advisor [does, does not] believe there are material violations
of the Special Servicer’s compliance with its obligations under the Pooling and Servicing Agreement. In addition, the Operating
Advisor notes the following: [PROVIDE SUMMARY OF ANY ADDITIONAL MATERIAL INFORMATION].

 

In connection with the
assessment set forth in this report, the Operating Advisor:

 

		1.	Reviewed the Asset Status Reports, the Special Servicer’s
assessment of compliance report, attestation report by a third party regarding the Special Servicer’s compliance with its
obligations and net present value calculations and Appraisal Reduction calculations and [LIST OTHER REVIEWED INFORMATION] for the
following [●] Specially Serviced Loans: [List applicable mortgage loans]

 

		2.	Consulted with the Special Servicer as provided under
the Pooling and Servicing Agreement. The Operating Advisor’s analysis of the Asset Status Reports (including related net
present value calculations and Appraisal Reduction calculations) related to the Specially Serviced Loans should be considered a
limited investigation and not be considered a full or limited audit. For instance, we did not review each page of the Special Servicer’s
policy and procedure manuals (including amendments and appendices), re-engineer the quantitative aspects of their net present value
calculator, visit any property, visit the Special Servicer, visit the Directing Holder or interact with any borrower. In addition,
our review of the net present value calculations and Appraisal Reduction calculations is limited to the mathematical accuracy of
the calculations and the corresponding application of the non-discretionary portions of the applicable formulas, and as such, does
not take into account the reasonableness of the discretionary portions of such formulas.

 

		III.	Specific Items of Review

 

		1.	The Operating Advisor
reviewed the following items in connection with the generation of this report: [LIST MATERIAL ITEMS].

 

		2.	[During the prior year,
the Operating Advisor consulted with the Special Servicer regarding its strategy plan for a limited number of issues related to
the following Specially Serviced Loans: [LIST]. The Operating Advisor participated in discussions and made strategic observations
and recommended alternative courses of action to the extent it deemed such observations and recommendations appropriate. The Special
Servicer [agreed with/did not agree with] the material recommendations made by the Operating Advisor. Such recommendations generally
included the following: [LIST].]

 

		3.	Appraisal Reduction calculations
and net present value calculations:

 

		4.	The Operating Advisor
[received/did not receive] information necessary to recalculate and verify the accuracy of the mathematical calculations and the
corresponding application of the non-discretionary portions of the applicable formulas required to be utilized in connection with
any Appraisal Reduction or net 

 

    Exhibit V-2

     

    

 

present value calculations used in the Special Servicer’s determination of what course of
action to take in connection with the workout or liquidation of a Specially Serviced Loan prior to the utilization by the Special
Servicer.

 

		a.	The Operating Advisor [agrees/does not agree] with the [mathematical calculations] [and/or] [the application of the applicable
non-discretionary portions of the formula] required to be utilized for such calculation.

 

		b.	After consultation with the Special Servicer to resolve any inaccuracy in the mathematical calculations or the application
of the non-discretionary portions of the related formula in arriving at those mathematical calculations, such inaccuracy [has been/
has not been] resolved.

 

		5.	The following is a general
discussion of certain concerns raised by the Operating Advisor discussed in this report: [LIST CONCERNS].

 

		6.	In addition to the other
information presented herein, the Operating Advisor notes the following additional items, if any: [LIST ADDITIONAL ITEMS].

 

		IV.	Qualifications Related
to the Work Product Undertaken and Opinions Related to this Report

 

		1.	The Operating Advisor
did not participate in, or have access to, the Special Servicer’s and Directing Holder’s discussion(s) regarding any
Specially Serviced Loan. The Operating Advisor does not have authority to speak with the Directing Holder directly. As such, the
Operating Advisor generally relied upon the information delivered to it by the Special Servicer as well as its interaction with
the Special Servicer, if any, in gathering the relevant information to generate this report.

 

		2.	The Special Servicer
has the legal authority and responsibility to service the Specially Serviced Loans pursuant to the Pooling and Servicing Agreement.
The Operating Advisor has no responsibility or authority to alter the standards set forth therein.

 

		3.	Confidentiality and other
contractual limitations limit the Operating Advisor’s ability to outline the details or substance of the discussions held
between it and the Special Servicer regarding any Specially Serviced Loans and certain information it reviewed in connection with
its duties under the Pooling and Servicing Agreement. As a result, this report may not reflect all the relevant information that
the Operating Advisor is given access to by the Special Servicer.

 

		4.	There are many tasks
that the Special Servicer undertakes on an ongoing basis related to Specially Serviced Loans. These include, but are not limited
to, assumptions, ownership changes, collateral substitutions, capital reserve changes, etc. The Operating Advisor does not participate
in any discussions regarding such actions. As such, Operating Advisor has not assessed the Special Servicer’s operational
compliance with respect to those types of actions.

 

    Exhibit V-3

     

    

 

		5.	The Operating Advisor
is not empowered to speak with any investors directly. If the investors have questions regarding this report, they should address
such questions to the certificate administrator through the certificate administrator’s website.

 

Terms used but not defined herein have
the meaning set forth in the Pooling and Servicing Agreement.

 

    Exhibit V-4

     

    

 

EXHIBIT W

 

Form
of Notice from Operating Advisor Recommending Replacement of [General Special Servicer] [AMA PLaza Special Servicer] [225 BUSH
STREET SPECIAL SERVICER]

 

Wilmington Trust, National Association

as Trustee

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee

Facsimile: (302) 630-4140

Email: CMBSTrustee@wilmingtontrust.com

 

Wells Fargo Bank, National Association

   as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust
Services (CMBS)

GS Mortgage Securities Trust
2016-GS4

Telecopy Number: (410) 715-2380

 

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attn: Executive Vice President
– Division Head

 

Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com

 

AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

Cedar Rapids, Iowa 52499

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, 

Recommendation of Replacement of Special Servicer 

 

    Exhibit W-1

     

    

 

Ladies and Gentlemen:

 

This letter is delivered
pursuant to Section 7.01(d) of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee, on behalf of the holders of GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series
2016-GS4 (the “Certificates”) regarding the replacement of the [General Special Servicer] [AMA Plaza Special
Servicer] [225 Bush Street Special Servicer]. Capitalized terms used and not otherwise defined herein shall have the respective
meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

Based upon our review
of the [General Special Servicer’s] [AMA Plaza Special Servicer’s] [225 Bush Street Special Servicer’s] operational
practices conducted pursuant to and in accordance with Section 3.26 of the Pooling and Servicing Agreement, it is our assessment
that [Midland Loan Servicer, a Division of PNC Bank, National Association], in its current capacity as [General Special Servicer],
[Wells Fargo Bank, National Association] as [AMA Plaza Special Servicer] [AEGON USA Realty Advisors, LLC] as [225 Bush Street Special
Servicer], is not [performing its duties under the Pooling and Servicing Agreement][acting in accordance with the Servicing Standard].
The following factors support our assessment: [________].

 

Based upon such assessment,
we further hereby recommend that [Midland Loan Servicer, a Division of PNC Bank, National Association] be removed as [General Special
Servicer] [Wells Fargo Bank, National Association] be removed as [AMA Plaza Special Servicer] [AEGON USA Realty Advisors, LLC]
be removed as [225 Bush Street Special Servicer] and that [________] be appointed its successor in such capacity.

 

	 	Very truly yours,
	 	 
	 	 
	 	[The Operating Advisor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated:

 

    Exhibit W-2

     

    

 

EXHIBIT X

 

Form
of CONFIDENTIALITY Agreement

 

[Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Telecopy Number: (704) 715-0036

Email: commercial.servicing@wellsfargo.com]

 

[Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com]

 

[Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210]

 

[AEGON USA Realty Advisors,
LLC

4333 Edgewood Road, NE,

Cedar Rapids, Iowa 52499]

 

		Re:	Access to Certain Information Regarding GS Mortgage Securities Trust 2016-GS4,
Commercial Mortgage Pass-Through Certificates, Series 2016-GS4

 

Ladies and Gentlemen:

 

Reference is hereby made to that certain
Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling
and Servicing Agreement”), among the GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division
of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer,
Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association,
as Trustee. Defined terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement.

 

    Exhibit X-1

     

    

 

[_____] [__], 20[__]

Page 2

 

[Wells Fargo Bank, National Association
(“Well Fargo”)][Midland Loan Services, a Division of PNC Bank, National Association (“Midland”)][AEGON
USA Realty Advisors, LLC (“AEGON”)] understands that [____] (the “Company”)
is requesting certain confidential or non-public information relating to the Mortgage Loans and the Trust Subordinate Companion
Loan to which the Company has continuing rights as a Certificateholder. The Company is requesting such information for the purpose
of analyzing asset performance and evaluating any continuing rights the Company may have under the Trust (the “Permitted
Purpose”). The Company agrees that the Permitted Purpose shall not include the use or disclosure of the Confidential
Information (as defined below) in any manner that violates any applicable law, the Pooling and Servicing Agreement or the related
mortgage loan documents.

 

[Wells Fargo][Midland][AEGON] will provide
the Company with certain confidential, non-public servicing information (the “Confidential
Information”) pertaining to the Mortgage Loans and the Trust Subordinate Companion Loans and the related Mortgaged
Properties and borrowers. The Company acknowledges that the Confidential Information (a) includes or may be based upon information
provided to [Wells Fargo][Midland][AEGON] by third parties, (b) may not have been verified by [Wells Fargo][Midland][AEGON],
and (c) may be incomplete or contain inaccuracies. The Company agrees that [Wells Fargo][Midland][AEGON], the [“Master
Servicer”] [“General Special Servicer”] [“AMA Plaza Special Servicer”] [“225
Bush Street Special Servicer”] (as defined in the Pooling and Servicing Agreement) and its Representatives (as defined
below) shall not have any liability to the Company or its Representatives resulting from (x) any inaccuracies or omissions
in the Confidential Information, (y) any use of the Confidential Information, or (z) [Wells Fargo][Midland][AEGON]’s
failure or inability to provide the Confidential Information to the Company for any reason. Notwithstanding the foregoing, the
following will not constitute “Confidential Information”
for purposes of this letter agreement: (a) information that was already in Company’s possession prior to its receipt
from [Wells Fargo][Midland][AEGON]; (b) information that is obtained by Company from a third person who, insofar as is known
to Company, is not prohibited from transmitting the information to Company by a contractual, legal or fiduciary obligation to [Wells
Fargo][Midland][AEGON]; (c) information that is or becomes publicly available through no fault of Company; and (d) information
that is independently developed by Company. The term “Representatives” with respect to any entity shall mean the officers,
directors, general partners, employees, agents, affiliates, auditors and legal counsel (which may be internal counsel) of that
entity.

 

The Company may have access to the Confidential
Information through (at [Wells Fargo][Midland][AEGON]’s election): (i) responses to reasonable written inquiries received
from the Company, (ii) conference calls conducted on a reasonably scheduled basis with [Wells Fargo][Midland][AEGON]’s
surveillance group, or (iii) direct on-line access (read-only capacity) to the information available on the applicable [____]
system or any successor or replacement system (“System”).
[Wells Fargo][Midland][AEGON] may cease or defer providing the Company with Confidential Information in the event that (a) the
Company or its Representatives violate any provision hereof, or (b) [Wells Fargo][Midland][AEGON] determines (in its sole
discretion) that such termination is necessary for any reason, including its determination that such action is required pursuant
to the terms of the Pooling and Servicing Agreement, the related Mortgage Loan documents, or any applicable law. [Wells Fargo][Midland][AEGON]
shall cease to provide the Company with Confidential Information if

 

    Exhibit X-2

     

    

 

[_____] [__], 20[__]

Page 3

 

[Wells Fargo][Midland][AEGON] has actual knowledge that the
Company or its Representatives are affiliates of any borrower under the Mortgage Loan documents and [Wells Fargo][Midland][AEGON]
determines that the provision, notice or access to such Confidential Information would violate the accepted servicing practices
or servicing standards as defined in the Pooling and Servicing Agreement. The Company’s obligations and the restrictions
applicable to the protection of the Confidential Information hereunder shall survive the termination of the Company’s access
to the Confidential Information. [Wells Fargo][Midland][AEGON]’s remedies hereunder, at law or at equity, are cumulative
and may be combined.

 

The Company agrees that it will not, and
it shall not permit its Representatives, to disclose the Confidential Information in any manner whatsoever to any other person
or entity, other than its Representatives (but only to the extent necessary to accomplish the Permitted Purpose) who have a need
to know the information, or as otherwise required by applicable law, court order or any governmental agency or regulator. The Company
acknowledges (i) its obligations under the U.S. federal securities laws, and (ii) that any disclosure of the Confidential
Information by it or its Representatives for any purpose other than a Permitted Purpose, in addition to being a breach of this
letter agreement, may constitute a violation of federal and state securities laws. The Company will take reasonable measures to
ensure that each Representative is advised of this letter agreement and agrees to keep the Confidential Information confidential.
The Company shall be liable for any breach of this letter agreement by its Representatives. Notwithstanding the foregoing, the
Company may subsequently provide all or any part of such Confidential Information to any other person or entity that holds or is
contemplating the purchase of any Certificate or interest therein, but only if such person or entity confirms such ownership interest
or prospective ownership interest and provided that, prior to the delivery of such Confidential Information, such persons
shall have executed and delivered to the Company an agreement that is substantially similar in form and substance to this agreement.

 

This letter agreement shall be governed
by and construed in accordance with the laws of the State of New York without the application of conflict of laws principles. Anything
herein to the contrary notwithstanding, [Wells Fargo][Midland][AEGON] intends at all times to comply with the terms and provisions
of the Pooling and Servicing Agreement and nothing in this letter agreement should be construed to limit or qualify any of [Wells
Fargo][Midland][AEGON]’s rights or obligations under the Pooling and Servicing Agreement. This letter agreement may be executed
in counterparts and by facsimile/Portable Document Format (PDF); each such counterpart shall be deemed to be an original instrument,
and all such counterparts together shall constitute one agreement.

 

This agreement shall terminate with respect
to the information received by the Company one year after the Company receives such information or ceases to be a Certificateholder.
Company agrees that this letter agreement supersedes and replaces and survives any click-through agreement regarding confidentiality
of Confidential Information agreed to in connection with accessing the System whether agreed to in accessing the System before
or after signing this letter agreement.

 

    Exhibit X-3

     

    

 

Please have an authorized signatory countersign
in the space provided below to indicate the Company’s confirmation of, and agreement to, the matters set forth herein.

 

	 	Very truly yours,
	 	 
	 	[WELLS FARGO BANK, NATIONAL ASSOCIATION]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]
	 	 	 
	 	[MIDLAND LOAN SERVICES, A DIVISION
OF PNC BANK, NATIONAL ASSOCIATION]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]
	 	 	 
	 	[AEGON USA REALTY ADVISORS, LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]

 

CONFIRMED AND AGREED TO:

 

[COMPANY NAME]

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

    Exhibit X-4

     

    

 

EXHIBIT Y

 

FORM CERTIFICATION TO BE PROVIDED WITH
FORM 10-K

 

CERTIFICATION

 

I, [identifying the certifying
individual], certify that:

 

		1.	I have reviewed this report on Form 10-K, and all reports on Form 10-D required to be filed in
respect of the period covered by this report on Form 10-K of the GS Mortgage Securities Trust 2016-GS4 (the “Exchange
Act periodic reports”);

 

		2.	Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any
untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;

 

		3.	Based on my knowledge, all of the distribution, servicing and other information required to be
provided under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports;

 

		4.	Based on my knowledge and the servicer compliance statements required in this report under Item
1123 of Regulation AB, and except as disclosed in the Exchange Act periodic reports, the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer and the 225 Bush Street Special Servicer have fulfilled their obligations under the Pooling and
Servicing Agreement in all material respects; and

 

		5.	All of the reports on assessment of compliance with servicing criteria for asset-backed securities
and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required
to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been
included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described
in such reports have been disclosed in this report on Form 10-K.

 

In giving the certifications
above, I have reasonably relied on information provided to me by the following unaffiliated parties:

 

(A) Wells Fargo Bank,
National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services,
a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special
Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National
Association, as Trustee;

 

(B) Midland Loan Services,
a Division of PNC Bank, National Association, as Master Servicer for the 540 West Madison, U.S. Industrial Portfolio, Hamilton
Place and

 

    Exhibit Y-1

     

    

 

Embassy Suites Portland Mortgage Loans, Trimont Real Estate Advisors, LLC, as Special Servicer for the 540 West Madison
Mortgage Loan, Rialto Capital Advisors, LLC, as Special Servicer for the U.S. Industrial Portfolio, Hamilton Place and Embassy
Suites Portland Airport Mortgage Loans, Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian
for the 540 West Madison, U.S. Industrial Portfolio, Hamilton Place and Embassy Suites Portland Mortgage Loans and Pentalpha Surveillance
LLC, as Operating Advisor and Asset Representations Reviewer for the 540 West Madison, U.S. Industrial Portfolio, Hamilton Place
and Embassy Suites Portland Mortgage Loans;

 

(C) Midland Loan Services,
a Division of PNC Bank, National Association, as Master Servicer for the Residence Inn and SpringHill Suites North Shore Mortgage
Loan, Torchlight Loan Services, LLC, as Special Servicer for the Residence Inn and SpringHill Suites North Shore Mortgage Loan,
Wells Fargo Bank, National Association, as Trustee, Certificate Administrator and Custodian for the Residence Inn and SpringHill
Suites North Shore Mortgage Loan and Pentalpha Surveillance, LLC, as Operating Advisor and Asset Representations Reviewer for the
Residence Inn and SpringHill Suites North Shore Mortgage Loan; and

 

(D) [AFTER THE APPLICABLE
SERVICING SHIFT SECURITIZATION DATE:] [______], as Master Servicer for [____] Mortgage Loan, [______], as Special Servicer for
[____] Mortgage Loan, [______], as Trustee for [____] Mortgage Loan, [______], as Certificate Administrator for [_____] Mortgage
Loan, and [______], as Operating Advisor and Asset Representations Reviewer for [____] Mortgage Loan;

 

	Date:	 	 	 
	 	 	 	 
	 	 	 	 
	[NAME OF OFFICER]	 	 
	(Senior officer in charge of securitization of the depositor)	 

 

    Exhibit Y-2

     

    

 

EXHIBIT Z-1

 

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY CERTIFICATE ADMINISTRATOR

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or an officer under my supervision) have reviewed the annual report on Form 10-K for the period ended December 31, 20[__] (the
“Form 10-K”) and all reports on Form 10-D and Form 8-K filed in respect of the period covered by the Form 10-K
of the Trust (collectively, with the Form 10-K, the “Reports”);

 

2.       Based
on my knowledge, the Reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading
with respect to the period covered by the Form 10-K;

 

3.       Based
on my knowledge, all of the distribution and other information required to be provided by the Certificate Administrator under the
Pooling and Servicing Agreement for inclusion in the Reports for the period covered by the Form 10-K is included in the Reports
and all of the distribution, servicing and other information provided to the Certificate Administrator by the trustee, the custodian,
the master servicer, the special servicers and the Operating Advisor

 

    Exhibit Z-1-1

     

    

 

under the Pooling and Servicing Agreement for inclusion in
the Reports for the period covered by the Form 10-K is included in the Reports;

 

4.       I
(or an officer under my supervision) am responsible for reviewing the activities performed by the Certificate Administrator under
the Pooling and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Certificate
Administrator compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion
in the Form 10-K under Item 1123 of Regulation AB, and except as disclosed in the Reports, the Certificate Administrator has fulfilled
its obligations under the Pooling and Servicing Agreement in all material respects; and

 

5.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Certificate Administrator
or any Servicing Function Participant retained by the Certificate Administrator (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required to be included
in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an
exhibit to the Form 10-K. Any material instances of noncompliance described in such reports have been disclosed in the Form 10-K
and such assessment of compliance is fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the Certificate Administrator responsible for reviewing the activities performed by the Certificate Administrator
under the Pooling and Servicing Agreement.

 

	Dated:	 	 	 

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-1-2

     

    

 

Exhibit
Z-2

 

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY MASTER SERVICER

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the Master
Servicer in accordance with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period
ended December 31, 20[__] (“Form 10-K”) and all information required to be provided by the Master Servicer in
accordance with the Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed
in respect of the period covered by the Form 10-K of the Trust (collectively, with the Form 10-K, the “Reports”)
(such information provided by the Master Servicer, collectively, the “Master Servicer Periodic Information”);

 

2.       Based
on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special servicer
backup certificate delivered by each Special Servicer relating to the relevant period, the Master Servicer Periodic Information,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by the Form 10-K;

 

    Exhibit Z-2-1

     

    

 

3.       Based
on my knowledge, and assuming the accuracy of the statements required to be made by each Special Servicer in the special servicer
backup certificate delivered by each Special Servicer relating to the relevant period, all of servicing and other information required
to be provided by the Master Servicer under the Pooling and Servicing Agreement for inclusion in the Reports for the period covered
by the Form 10-K is included in the Master Servicer Periodic Information;

 

4.       I
(or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the Master Servicer under
the Pooling and Servicing Agreement and based on my knowledge and the compliance review conducted in preparing the Master Servicer
compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion in the Form
10-K under Item 1123 of Regulation AB, and except as disclosed in the Master Servicer Periodic Information, the Master Servicer
has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects;

 

5.       The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Master Servicer with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Master Servicer’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Master Servicer
or any Servicing Function Participant retained by the Master Servicer (the “Relevant Servicing Criteria”) and
their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling and
Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act
Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances of
noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance is fairly
stated in all material respects.

 

This Certification is being signed by me as
an officer of the Master Servicer responsible for reviewing the activities performed by the Master Servicer under the Pooling and
Servicing Agreement.

 

	Dated:	 	 	 

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-2-2

     

    

 

Exhibit
Z-3

 

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY [GENERAL SPECIAL SERVICER][AMA PLAZA SPECIAL SERVICER][225 BUSH STREET SPECIAL SERVICER]

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or Servicing Officers under my supervision) have reviewed the servicing and other information required to be provided by the [General
Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] in accordance with the Pooling and Servicing
Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form 10-K”)
and all information required to be provided by the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special
Servicer] in accordance with the Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required
to be filed in respect of the period covered by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”)
(such information provided by the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer], collectively,
the “Special Servicer Periodic Information”);

 

2.       Based
on my knowledge, the Special Servicer Periodic Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact

 

    Exhibit Z-3-1

     

    

 

necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

3.       Based
on my knowledge, all servicing and other information required to be provided by the [General Special Servicer] [AMA Plaza Special
Servicer] [225 Bush Street Special Servicer] under the Pooling and Servicing Agreement for inclusion in the Reports for the period
covered by the Form 10-K is included in the Special Servicer Periodic Information;

 

4.       I
(or Servicing Officers under my supervision) am responsible for reviewing the activities performed by the [General Special Servicer]
[AMA Plaza Special Servicer] [225 Bush Street Special Servicer] under the Pooling and Servicing Agreement, and based on my knowledge
and the compliance review conducted in preparing the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special
Servicer]’s compliance statement required to be delivered under Article XI of the Pooling and Servicing Agreement for inclusion
in the Form 10-K under Item 1123 of Regulation AB, and except as disclosed in the Special Servicer Periodic Information, the [General
Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] has fulfilled its obligations under the Pooling
and Servicing Agreement in all material respects;

 

5.       The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] with respect to the
Trust’s fiscal year _____ have been provided all information relating to the [General Special Servicer] [AMA Plaza Special
Servicer] [225 Bush Street Special Servicer]’s assessment of compliance with the Relevant Servicing Criteria in order to
enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

6.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the [General Special
Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] or any Servicing Function Participant retained by the
[General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with
servicing criteria is fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer] responsible for
reviewing the activities performed by the [General Special Servicer] [AMA Plaza Special Servicer] [225 Bush Street Special Servicer]
under the Pooling and Servicing Agreement.

 

	Dated:	 	 	 

 

    Exhibit Z-3-2

     

    

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-3-3

     

    

 

Exhibit
Z-4

 

Form
of Certification to be Provided

to Depositor by Trustee

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or officers under my supervision) have reviewed the information required to be provided by the Trustee in accordance with the
Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form
10-K”) and all information required to be provided by the Trustee in accordance with the Pooling and Servicing Agreement
for inclusion in the reports on Form 10-D and Form 8-K required to be filed in respect of the period covered by the Form 10-K of
the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by the Trustee, collectively,
the “Trustee Periodic Information”);

 

2.       Based
on my knowledge, the Trustee Periodic Information, taken as a whole, does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

    Exhibit Z-4-1

     

    

 

3.       Based
on my knowledge, all information required to be provided by the Trustee under the Pooling and Servicing Agreement for inclusion
in the Reports for the period covered by the Form 10-K is included in the Trustee Periodic Information;

 

4.       I
(or officers under my supervision) am responsible for reviewing the activities performed by the Trustee under the Pooling and Servicing
Agreement, and based on my knowledge and the compliance review conducted in preparing the Trustee’s compliance statement
to be delivered under Article XI of the Pooling and Servicing Agreement required for inclusion in the Form 10-K under Item 1123
of Regulation AB, and except as disclosed in the Trustee Periodic Information, the Trustee has fulfilled its obligations under
the Pooling and Servicing Agreement in all material respects; and

 

5.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Trustee or any
Servicing Function Participant retained by the Trustee (the “Relevant Servicing Criteria”) and their related
attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling and Servicing Agreement
to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and
15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances of noncompliance with
the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with servicing criteria is
fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the Trustee responsible for reviewing the activities performed by the Trustee under the Pooling and Servicing
Agreement.

 

	Dated:	 	 	 

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-4-2

     

    

 

Exhibit
Z-5

 

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY OPERATING ADVISOR

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or officers under my supervision) have reviewed the information required to be provided by the Operating Advisor in accordance
with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__]
(“Form 10-K”) and all information required to be provided by the Operating Advisor in accordance with the Pooling
and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed in respect of the period covered
by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by
the Operating Advisor, collectively, the “Operating Advisor Periodic Information”);

 

2.       Based
on my knowledge, the Operating Advisor Periodic Information, taken as a whole, does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

    Exhibit Z-5-1

     

    

 

3.       Based
on my knowledge, all information required to be provided by the Operating Advisor under the Pooling and Servicing Agreement for
inclusion in the Reports for the period covered by the Form 10-K is included in the Operating Advisor Periodic Information;

 

4.       The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Operating Advisor with respect to the Trust’s fiscal year _____ have been provided all information relating
to the Operating Advisor’s assessment of compliance with the Relevant Servicing Criteria in order to enable them to conduct
a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

5.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Operating Advisor
or any Servicing Function Participant retained by the Operating Advisor (the “Relevant Servicing Criteria”)
and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling
and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances
of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with
servicing criteria is fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the Operating Advisor responsible for reviewing the activities performed by the Operating Advisor under the Pooling
and Servicing Agreement.

 

	Dated:	 	 	 

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-5-2

     

    

 

Exhibit
Z-6

 

Form
of Certification to be Provided

to Depositor by CUSTODIAN

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Corporation II, issued pursuant to the Pooling and Servicing
Agreement dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), among GS Mortgage Securities
Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as
Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON
USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset
Representations Reviewer, and Wilmington Trust, National Association, as Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or officers under my supervision) have reviewed the information required to be provided by the Custodian in accordance with the
Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December 31, 20[__] (“Form
10-K”) and all information required to be provided by the Custodian in accordance with the Pooling and Servicing Agreement
for inclusion in all reports on Form 10-D and Form 8-K required to be filed in respect of the period covered by the Form 10-K of
the Trust (collectively with the Form 10-K, the “Reports”) (such information provided by the Custodian, collectively,
the “Custodian Periodic Information”);

 

2.       Based
on my knowledge, the Custodian Periodic Information, taken as a whole, does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Form 10-K;

 

    Exhibit Z-6-1

     

    

 

3.       Based
on my knowledge, all information required to be provided by the Custodian under the Pooling and Servicing Agreement for inclusion
in the Reports for the period covered by the Form 10-K is included in the Custodian Periodic Information;

 

4.       I
(or officers under my supervision) am responsible for reviewing the activities performed by the Custodian under the Pooling and
Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Custodian’s compliance
statement to be delivered under Article XI of the Pooling and Servicing Agreement required for inclusion in the Form 10-K under
Item 1123 of Regulation AB, and except as disclosed in the Custodian Periodic Information, the Custodian has fulfilled its obligations
under the Pooling and Servicing Agreement in all material respects; and

 

5.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Custodian or any
Servicing Function Participant retained by the Custodian (the “Relevant Servicing Criteria”) and their related
attestation reports on assessment of compliance with the Relevant Servicing Criteria required under the Pooling and Servicing Agreement
to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and
15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material instances of noncompliance with
the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance with servicing criteria is
fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the Custodian responsible for reviewing the activities performed by the Custodian under the Pooling and Servicing
Agreement.

 

	Dated:	 	 	 

 

	 	 Name:
	 	 Title:

 

    Exhibit Z-6-2

     

    

 

Exhibit
Z-7

 

FORM OF CERTIFICATION TO BE PROVIDED

TO DEPOSITOR BY ASSET REPRESENTATIONS REVIEWER

 

GS Mortgage Securities Corporation II

200 West Street

New York, New York 10282

Attention: Leah Nivison

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4, issued pursuant to the Pooling and Servicing Agreement dated as of November 1, 2016 (the “Pooling and
Servicing Agreement”), among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee. 

 

I, [identity of certifying individual], hereby certify to the
Depositor and its officers, directors and Affiliates (collectively, the “Certification Parties”) as follows,
with the knowledge and intent that the Certification Parties will rely on this Certification in connection with the certification
concerning the Trust to be signed by an officer of the Depositor and submitted to the Securities and Exchange Commission pursuant
to the Sarbanes-Oxley Act of 2002:

 

1.       I
(or officers under my supervision) have reviewed the information required to be provided by the Asset Representations Reviewer
in accordance with the Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the period ended December
31, 20[__] (“Form 10-K”) and all information required to be provided by the Asset Representations Reviewer in
accordance with the Pooling and Servicing Agreement for inclusion in all reports on Form 10-D and Form 8-K required to be filed
in respect of the period covered by the Form 10-K of the Trust (collectively with the Form 10-K, the “Reports”)
(such information provided by the Asset Representations Reviewer, collectively, the “Asset Representations Reviewer Periodic
Information”);

 

2.       Based
on my knowledge, the Asset Representations Reviewer Periodic Information, taken as a whole, does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period covered by the Form 10-K;

 

    Exhibit Z-7-1

     

    

 

3.       Based
on my knowledge, all information required to be provided by the Asset Representations Reviewer under the Pooling and Servicing
Agreement for inclusion in the Reports for the period covered by the Form 10-K is included in the Asset Representations Reviewer
Periodic Information;

 

4.       The
accountants that are to deliver the annual attestation report on assessment of compliance with the Relevant Servicing Criteria
in respect of the Asset Representations Reviewer with respect to the Trust’s fiscal year _____ have been provided all information
relating to the Asset Representations Reviewer’s assessment of compliance with the Relevant Servicing Criteria in order to
enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

5.       All
of the reports on assessment of compliance with servicing criteria for asset-backed securities applicable to the Asset Representations
Reviewer or any Servicing Function Participant retained by the Asset Representations Reviewer (the “Relevant Servicing
Criteria”) and their related attestation reports on assessment of compliance with the Relevant Servicing Criteria required
under the Pooling and Servicing Agreement to be delivered for inclusion in the Form 10-K in accordance with Item 1122 of Regulation
AB and Exchange Act Rules 13a-18 and 15d-18, have been delivered in accordance with the Pooling and Servicing Agreement. All material
instances of noncompliance with the Relevant Servicing Criteria have been disclosed in such reports and such assessment of compliance
with servicing criteria is fairly stated in all material respects.

 

This Certification is being signed by me
as an officer of the Asset Representations Reviewer responsible for reviewing the activities performed by the Asset Representations
Reviewer under the Pooling and Servicing Agreement.

 

	Dated:	 	 	 

 

	 	Name:
	 	Title:

 

    Exhibit Z-7-2

     

    

 

EXHIBIT AA

 

Servicing
Criteria

to be Addressed in Assessment of Compliance

 

The assessment of compliance
to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Applicable Servicing
Criteria” applicable to such party, as such criteria may be updated or limited by the Commission or its staff (including,
without limitation, not requiring the delivery of certain of the items set forth on this Exhibit based on interpretive guidance
provided by the Commission or its staff relating to Item 1122 of Regulation AB). In addition, this Exhibit AA shall not
be construed to impose on any Person any servicing duty that is not otherwise imposed on such Person under the main body of the
Pooling and Servicing Agreement of which this Exhibit AA forms a part or to require an assessment of a criterion that is
not encompassed by the servicing duties of the applicable party that are set forth in the main body of such Pooling and Servicing
Agreement. For the avoidance of doubt, for purposes of this Exhibit AA, other than with respect to Item 1122(d)(2)(iii),
references to Servicer below shall include any Sub-Servicer engaged by a Master Servicer or Special Servicer.

 

	APPLICABLE
    Servicing Criteria 	applicable
    

PARTY
	Reference	Criteria	 
	 	General
    Servicing Considerations	 
	1122(d)(1)(i)	Policies
    and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction
    agreements.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(1)(ii)	If
    any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third
    party’s performance and compliance with such servicing activities.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(1)(iii)	Any
    requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A
    fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout
    the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master
Servicer

        Special
Servicer

Custodian (as applicable)

	1122(d)(1)(v)	Aggregation
    of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	Master
    Servicer

    Special Servicer

    Certificate Administrator
	 	Cash
    Collection and Administration	 
	1122(d)(2)(i)	Payments
    on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than
    two business days following receipt, or such other number of days specified in the transaction agreements.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(2)(ii)	Disbursements
    made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Certificate
    Administrator

 

    Exhibit AA-1

     

    

 

	APPLICABLE
    Servicing Criteria 	applicable
    

PARTY
	Reference	Criteria	 
	1122(d)(2)(iii)	Advances
    of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such
    advances, are made, reviewed and approved as specified in the transaction agreements.	Master
    Servicer

    Special Servicer

    Trustee (as applicable)2
	1122(d)(2)(iv)	The
    related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization,
    are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(2)(v)	Each
    custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements.
    For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial
    institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Exchange Act.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(2)(vi)	Unissued
    checks are safeguarded so as to prevent unauthorized access.	Certificate
Administrator

        Master
Servicer

Special Servicer

	1122(d)(2)(vii)	Reconciliations
    are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related
    bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days
    after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed
    and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling
    items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number
    of days specified in the transaction agreements.	Certificate
Administrator

        Master
Servicer

Special Servicer

	 	Investor
    Remittances and Reporting	 
	1122(d)(3)(i)	Reports
    to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements
    and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and
    other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms
    specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations;
    and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number
    of mortgage loans serviced by the Reporting Servicer.	Certificate
Administrator

Operating Advisor (with respect to A and B)

        Asset
Representations Reviewer (with respect to A and B)3

	1122(d)(3)(ii)	Amounts
    due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth
    in the transaction agreements.	Certificate
    Administrator
	1122(d)(3)(iii)	Disbursements
    made to an investor are posted within two business days to the Servicer’s investor records, or such other number of
    days specified in the transaction agreements.	Certificate
    Administrator
	1122(d)(3)(iv)	Amounts
    remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Certificate
    Administrator
	 	Pool
    Asset Administration	 
	1122(d)(4)(i)	Collateral
    or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Custodian

    Master Servicer

    Special Servicer
	1122(d)(4)(ii)	Mortgage
    loan and related documents are safeguarded as required by the transaction agreements	Custodian

 

 

 

2
Only to the extent that the Trustee was required to make an Advance pursuant to the Pooling and Servicing Agreement during the
applicable calendar year.

 

3
Only to the extent that the Asset Representations Reviewer was required to perform an Asset Review pursuant to the Pooling and
Servicing Agreement during the applicable calendar year.

 

    Exhibit AA-2

     

    

 

	APPLICABLE
    Servicing Criteria 	applicable
    

PARTY
	Reference	Criteria	 
	1122(d)(4)(iii)	Any
    additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or
    requirements in the transaction agreements.	Certificate
    Administrator

    Master Servicer

    Special Servicer
	1122(d)(4)(iv)	Payments
    on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer’s
    obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction
    agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan
    documents.	Master
    Servicer
	1122(d)(4)(v)	The
    Reporting Servicer’s records regarding the mortgage loans agree with the Reporting Servicer’s records with respect
    to an obligor’s unpaid principal balance.	Master
    Servicer
	1122(d)(4)(vi)	Changes
    with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made,
    reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Master
    Servicer

    Special Servicer
	1122(d)(4)(vii)	Loss
    mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and
    repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements
    established by the transaction agreements.	Special
Servicer

Operating Advisor

        Asset
Representations Reviewer4

	1122(d)(4)(viii)	Records
    documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction
    agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements,
    and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters
    and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master
    Servicer

    Special Servicer
	1122(d)(4)(ix)	Adjustments
    to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan
    documents.	Master
    Servicer
	1122(d)(4)(x)	Regarding
    any funds held in trust for an obligor (such as escrow accounts):  (A) such funds are analyzed, in accordance
    with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction
    agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan
    documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of
    the related mortgage loans, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xi)	Payments
    made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates,
    as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer
    at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xii)	Any
    late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s
    funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master
    Servicer
	1122(d)(4)(xiii)	Disbursements
    made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer,
    or such other number of days specified in the transaction agreements.	Master
    Servicer
	1122(d)(4)(xiv)	 Delinquencies,
    charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master
    Servicer

 

 

 

4
Only to the extent that the Asset Representations Reviewer was required to perform an Asset Review pursuant to the Pooling and
Servicing Agreement during the applicable calendar year.

 

    Exhibit AA-3

     

    

 

	APPLICABLE
    Servicing Criteria 	applicable
    

PARTY
	Reference	Criteria	 
	1122(d)(4)(xv)	Any
    external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB,
    is maintained as set forth in the transaction agreements.	N/A

 

At all times that the
Certificate Administrator and the Trustee are the same entity, the Trustee and Certificate Administrator may provide a combined
assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation AB.

 

At all times that the
Master Servicer and the Special Servicer are the same entity, the Master Servicer and the Special Servicer may provide a combined
assessment of compliance in respect of their combined responsibilities under Section 1122 of Regulation AB.

 

    Exhibit AA-4

     

    

 

EXHIBIT
BB

 

ADDITIONAL
FORM 10-D DISCLOSURE

 

The parties identified in the “Party
Responsible” column are obligated pursuant to Section 11.04 of the Pooling and Servicing Agreement to disclose to the Depositor
and the Certificate Administrator (or the Master Servicer, to the extent specified in Section 11.04 of the Pooling and Servicing
Agreement) any information described in the corresponding Form 10-D Item described in the “Item on Form 10-D” column
to the extent such party has knowledge (and in the case of net operating income information, financial statements, annual operating
statements, budgets and/or rent rolls required to be provided in connection with Item 6 below, possession) of such information
(other than information as to itself). Each of the Certificate Administrator, the Trustee, the Master Servicer, the General Special
Servicer, the AMA Plaza Special Servicer and the 225 Bush Street Special Servicer (in its capacity as such) shall be entitled to
rely on the accuracy of the Prospectus (other than information with respect to itself that is set forth in or omitted from the
Prospectus), in the absence of specific notice to the contrary from the Depositor or a Mortgage Loan Seller. Each of the Certificate
Administrator, the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer and the 225 Bush
Street Special Servicer (in its capacity as such) shall be entitled to assume that there is no “significant obligor”
other than a party or property identified as such in the Prospectus and to assume that no other party or property will constitute
a “significant obligor” after the Cut-off Date. In no event shall the Master Servicer, the General Special Servicer,
the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer be required to provide any information for inclusion in
a Form 10-D that relates to any Mortgage Loan or the Trust Subordinate Companion Loan for which the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer is not the Master Servicer or the Special
Servicer, as the case may be. For this GS Mortgage Securities Trust 2016-GS4 Pooling and Servicing Agreement, each of the Certificate
Administrator, the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer and the 225 Bush
Street Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement,
liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item on Form 10-D	Party Responsible
	
        Item 1A: Distribution and Pool Performance Information:

         

        ●     Item
        1121(a)(13) of Regulation AB

         
	●     Certificate Administrator
	
        Item 1B: Distribution and Pool Performance Information:

         

        ●     Item
1121(a)(14) of Regulation AB 

        ●     Item
1121(d) of Regulation AB 

        ●     Item
        1121(e) of Regulation AB

         
	
        ●     Certificate
        Administrator

         

        ●     Depositor

         

        ●     Asset
        Representations Reviewer

         

 

    Exhibit BB-1 

     

    
 

	
        Item 2: Legal Proceedings:

         

        ●     Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described therein that
        are material to security holders)

         
	
        ●     Master Servicer (as to itself)

         

        ●     Special
        Servicer (as to itself)

         

        ●     Certificate
        Administrator (as to itself)

         

        ●     Trustee
        (as to itself)

         

        ●     Depositor
        (as to itself)

         

        ●     Operating
        Advisor (as to itself)

         

        ●     Any
        other Reporting Servicer (as to itself)

         

        ●     Trustee/Certificate
        Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of the proceedings)

         

        ●     Mortgage
        Loan Seller as sponsor (as defined in Regulation AB)

         

        ●     Originators
        under Item 1110 of Regulation AB

         

        ●     Party
under Item 1100(d)(1) of Regulation AB 

	Item 3: Sale of Securities and Use of Proceeds

                                                                                 
 

	●     Depositor
	Item 4: Defaults Upon Senior Securities

                                                                                 
 

	●     Certificate Administrator
	Item 5: Submission of Matters to a Vote of Security Holders

                                                                                 
 

	●     Certificate Administrator
	
        Item 6: Significant Obligors of Pool Assets:

         

        ●     Item
        1112(b) of Regulation AB provided, however, that all of the following conditions shall apply:

         

        (a) information shall be required to be reported only with respect to
        a party or property (if any) identified as a “significant obligor” in the Prospectus;

         
	
        ●     Master
        Servicer (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ●     Special
        Servicer (as to REO Properties)

         

 

    Exhibit BB-2 

     

    
 

	
        (b) the information to be reported shall consist of such quarterly and annual operating statements, budgets and
        rent rolls of the related Mortgaged Property or REO Property (as applicable), and quarterly and annual financial statements of
        the related Borrower (except in the case of an REO Property), received or prepared by the “Party Responsible” pursuant
        to its obligations under Section 3.12(b) of this Pooling and Servicing Agreement; provided, however, that for a significant
        obligor under item 1101(k)(2) of Regulation AB, only net operating income for the most recent fiscal year and interim period is
        required and, if such information for a prior period was required but not previously reported, such information for such prior
        period; and

         

        (c) the information shall be reportable in the Form 10-D that relates
        to the Distribution Date that immediately follows the Collection Period in which the information was received or prepared by the
        “Party Responsible” as described in clause (b) above.

         
	 
	
        Item 7: Change in Sponsor Interest in the Securities:

        

        Item 1124 of Regulation AB.

         
	Mortgage Loan Seller (as sponsor (as defined in Regulation AB))
	
        Item 8: Significant Enhancement Provider Information:

         

        ●     Item
        1114(b)(2) and Item 1115(b) of Regulation AB

         
	●     Depositor
	Item 9: Other Information, but only
to the extent of any information that meets all the following conditions: (a) such information constitutes “Additional Form
8-K Disclosure” pursuant to Exhibit DD, (b) such information is required to be reported as “Additional Form
8-K Disclosure” during the period to which the Form 10-D relates, and (c) such information was not previously 	
        ●     Certificate
        Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent that such party is the “Party
        Responsible” with respect to such information pursuant to Exhibit DD.

         

        ●     Certificate
Administrator (including the balances of the Distribution Account, the Interest Reserve Account and the Gain-on-Sale Reserve Account
as of the related 

 

    Exhibit BB-3 

     

    
 

	reported as
“Additional Form 8-K Disclosure”.	
        Distribution Date and the
        preceding  Distribution Date) 

        ●     Master
Servicer (with respect to the balances of each REO Account (to the extent the related information has been received from the Special
Servicer within the time period specified in Section 11.04 of the Pooling and Servicing Agreement) and the Collection Account
as of the related Distribution Date and the preceding Distribution Date) 

        ●     Special
Servicer (with respect to the balance of each REO Account as of the related Distribution Date and the preceding Distribution Date) 

        ●     Any
other party responsible for disclosure items on Form 8-K (including each applicable Seller with respect to Item 1100(e) of Regulation
AB to the extent material to Certificateholders) 
	 
	
        Item 10: Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i) and
3(ii) of Item 601 of Regulation S-K) 
	●     Depositor	 
	
        Item 10: Exhibits (no. 4):

         

        With respect to instruments defining the rights of security holders (Exhibit
        No. 4 of Item 601 of Regulation S-K)

         
	
        ●     Certificate
Administrator 

        ●     Depositor

         

        provided, in each case, that this shall in no event
be construed to make such party responsible for the initial filing of this Pooling and Servicing Agreement 

        provided further, in each case, that in the event any reportable
        agreement is executed by the Depositor and the Trustee or Certificate Administrator, then the Depositor shall be the responsible
        party.

         
	 
	
        Item 10: Exhibits (no. 10):

         

        Material contracts (Exhibit No. 10 of Item 601 of Regulation S-K)

         
	●     Certificate Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans or the Trust Subordinate Companion Loans or REO Mortgage Loans, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such 	 

 

    Exhibit BB-4 

     

    
 

	 	party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust.
	
        Item 10: Exhibits (no. 22):

         

        Published Report Regarding Matters Submitted to a Vote of Security
Holders (Exhibit No. 22 of Item 601 of Regulation S-K), but only if the party that is the “Party Responsible” with
respect to Item 5 above elects to publish a report containing the information required by such Item 5 above and also elects to
report the information on Form 10-D by means of filing the published report and answering Item 5 by referencing the published
report. 
	●     The applicable party that is the “Party Responsible” with respect to Item 5 as set forth above.
	
        Item 10: Exhibits (no. 23):

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
601 of Regulation S-K), where the filing of a written consent is required with respect to material (in the Form 10-D) that is
incorporated by reference in the Depositor’s registration statement. 
	●     Depositor
	
        Item 10: Exhibits (no. 24)

         

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
party, is signed pursuant to a power of attorney. 
	●     Certificate Administrator 
	
        Item 10: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
S-K) 
	●     Not Applicable.
	
        Item 10: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation
S-K). 
	●     Not Applicable.
	Item
10: Exhibits (By Operation of Item 8 Above), but only to the extent of any document that meets all the following conditions: (a)
such document constitutes “Additional Form 8-K Disclosure” pursuant	●     Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible” for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the 

 

    Exhibit BB-5 

     

    
 

	to
    Item 9.01(d) of Exhibit DD, (b) such document is required to be reported as “Additional Form 8-K
    Disclosure” during the period to which the Form 10-D relates, and (c) such document was not previously reported as
    “Additional Form 8-K Disclosure”.	Master
    Servicer or the Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any
    exhibits to a Form 10-K); provided, in each case, that in the event any reportable agreement is executed by
    the Depositor and the Trustee or Certificate Administrator, then the Depositor shall be the responsible party for this Item
    10.

 

    Exhibit BB-6 

     

    
 

EXHIBIT CC

 

ADDITIONAL
FORM 10-K DISCLOSURE

 

The parties identified in the “Party
Responsible” column are obligated pursuant to Section 11.05 of the Pooling and Servicing Agreement to disclose to the Depositor
and the Certificate Administrator any information described in the corresponding Form 10-K Item described in the “Item on
Form 10-K” column to the extent such party has knowledge (and in the case of net operating income information, financial
statements, annual operating statements, budgets and/or rent rolls required to be provided in connection with 1112(b) below, possession)
of such information (other than information as to itself). Each of the Certificate Administrator, the Trustee, the Master Servicer,
the General Special Servicer, the AMA Plaza Special Servicer and the 225 Bush Street Special Servicer (in its capacity as such)
shall be entitled to rely on the accuracy of the Prospectus (other than information with respect to itself that is set forth in
or omitted from the Prospectus), in the absence of specific notice to the contrary from the Depositor or the Mortgage Loan Seller.
Each of the Certificate Administrator, the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer
and the 225 Bush Street Special Servicer (in its capacity as such) shall be entitled to assume that there is no “significant
obligor” other than a party or property identified as such in the Prospectus and to assume that no other party or property
will constitute a “significant obligor” after the Cut-off Date. In no event shall the Master Servicer, the General
Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer be required to provide any information
for inclusion in a Form 10-K that relates to any Mortgage Loan or Trust Subordinate Companion Loan for which the Master Servicer,
the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer is not the applicable Master
Servicer or Special Servicer, as the case may be. For this GS Mortgage Securities Trust 2016-GS4 Pooling and Servicing Agreement,
each of the Certificate Administrator, the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer
and the 225 Bush Street Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit
enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item on Form 10-K	Party Responsible
	
        Item 1B: Unresolved Staff Comments

         
	●     Depositor

 

    Exhibit CC-1 

     

    
 

	
        Item 9B: Other Information, but only to the extent of any information
        that meets all the following conditions:

         

        (a) such information constitutes “Additional Form 8-K Disclosure”
        pursuant to Exhibit DD,

         

        (b) such information is required to be reported as “Additional
        Form 8-K Disclosure” during the period to which the Form 10-K relates, and

         

        (c) such information was not previously reported as “Additional
Form 8-K Disclosure” or as “Additional Form 10-D Disclosure”
	●     Certificate Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent that such party is the “Party Responsible” with respect to such information pursuant to Exhibit DD. 
	Item 15: Exhibits, Financial Statement Schedules (SEE BELOW)	SEE BELOW
	
        Instruction J(2)(b) (Significant Obligors of Pool Assets) – Part
        1 of 3 Parts:

         

        ●     Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was required to have been set forth in the Prospectus,
        (ii) such information was not so set forth and (iii) the applicable Master Servicer has not previously reported such information
        as “Additional Form 10-D Information”.

         
	
        ●     The
        Mortgage Loan Seller.

         

	
        Instruction J(2)(b) (Significant Obligors of Pool Assets) – Part
        2 of 3 Parts:

         

        ●     Item
        1112(b) of Regulation AB, but only to the extent that (i) such information was set forth in the Prospectus and (ii) the applicable
        Master Servicer has not previously reported such information or updated versions thereof as “Additional Form 10-D Information”.

         
	●     The Depositor

 

    Exhibit CC-2 

     

    
 

	
        Instruction J(2)(b) (Significant Obligors of Pool Assets) – Part
        3 of 3 Parts:

         

        ●     Item
        1112(b) of Regulation AB; provided, however, that all of the following conditions shall apply:

         

        (a) information shall be required to be reported only with respect to
        a party or property (if any) identified as a “significant obligor” in the Prospectus;

         

        (b) the information to be reported shall consist of such quarterly and
        annual operating statements, budgets and rent rolls of the related Mortgaged Property or REO Property (as applicable), and quarterly
        and annual financial statements of the related Borrower (except in the case of an REO Property), received or prepared by the “Party
        Responsible” pursuant to its obligations under Section 3.12(b) of this Pooling and Servicing Agreement; provided,
        however, that for a significant obligor described under item 1101(k)(2) of Regulation AB, only net operating income for
        the most recent fiscal year and interim period is required and, if such information for a prior period was required but not previously
        reported, such information for such prior period; and

         

        (c) the information shall be reportable only to the extent that is has
        not previously been reported as “Additional Form 10-D Information”.

         
	
        ●     Master
        Servicer (excluding information for which the Special Servicer is the “Party Responsible”)

         

        ●     Special
        Servicer (as to REO Properties)

         

	
        Instruction J(2)(c) (Significant Enhancement Provider Information):

         
	 
	●     Items 1114(b)(2) and 1115(b) of Regulation AB	●     Depositor
	 	 

 

    Exhibit CC-3 

     

    
 

	
        Instruction J(2)(d) (Legal Proceedings):

         

        ●     Item
        1117 of Regulation AB (it being acknowledged that such Item 1117 requires disclosure only of proceedings described therein that
        are material to security holders)

         
	
        ●     Master
        Servicer (as to itself)

         

        ●     Special
        Servicer (as to itself)

         

        ●     Certificate
        Administrator (as to itself)

         

        ●     Trustee
        (as to itself)

         

        ●     Depositor
        (as to itself)

         

        ●     Trustee/Certificate
        Administrator /Master Servicer/Depositor/Special Servicer as to the Trust (whichever of them is in principal control of the proceedings)

         

        ●     Mortgage
        Loan Seller as sponsor (as defined in Regulation AB)

         

        ●     Originators
        under Item 1110 of Regulation AB

         

        ●     Party
under Item 1100(d)(1) of Regulation AB

	
        Instruction J(2)(e) (Affiliations and Certain Relationships and Related
        Transactions) – Part 1 of 2 Parts:

         

        1119(a) of Regulation AB,

         

        but only the existence and (if existent) how there is (that is, the nature
        of) any affiliation between itself (that is, the particular “Party Responsible”), on the one hand, and any one or more
        of the following, on the other: (1) the Depositor, (2) the Mortgage Loan Seller, (3) the Trust and (4) any other party listed under
        this item as a “Party Responsible”; provided, however, that an affiliation need not be disclosed
        for purposes of the applicable Form 10-K if it was disclosed in the Prospectus or if it was previously reported as “Additional
        Form 10-K Disclosure”.

         

        and

         

        ●     1119(b)
of Regulation AB, 
	
        ●     Master
Servicer (as to itself) (only as to affiliations under Item 1119(a) with the Trustee, Certificate Administrator, each Special
Servicer or a sub-servicer retained by it meeting any of the descriptions in Item 1108(a)(3)). 

        ●     Special
Servicer 

        ●     Certificate
Administrator 

        ●     Trustee 

        ●     Asset
Representations Reviewer 

        ●     Each
party (other than the Mortgage Loan Seller), if any, that is identified in the Prospectus as an “originator” of one
or more Mortgage Loans or the Trust Subordinate Companion Loans, if the Prospectus specifically states that the applicable Mortgage
Loans or the Trust Subordinate Companion Loans were 10% or more of the assets of the Trust at the date of the Prospectus (provided
that such a party shall no longer constitute a “Party Responsible” under this item from and after the date (if

 

    Exhibit CC-4 

     

    
 

	
         

        but only the existence and (if existent) the general character of any
        business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course of
        business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party (apart
        from the Series 2016-GS4 transaction) between itself (that is, the particular “Party Responsible”) or any of its affiliates,
        on the one hand, and any one or more of the following, on the other: (1) the Depositor, (2) the Mortgage Loan Seller, and (3) the
        Trust; provided, however, that a relationship, agreement, arrangement, transaction or understanding (A) must be reported
        only if it then exists or existed within the two prior years, (B) need not be reported if it is not material to an investor’s
        understanding of the Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in
        the Prospectus or if it was previously reported as “Additional Form 10-K Disclosure”.

         

        and

         

        ●     1119(c)
        of Regulation AB,

         

        but only the existence and (if existent) a description (including
the terms and approximate dollar amount) of any specific relationship involving or related to the Series 2016-GS4 transaction
or the Mortgage Loans or the Trust Subordinate Companion Loans between itself (that is, the particular “Party Responsible”)
or any of its affiliates, on the one hand, and any one or more of the following, on the other: (1) the Depositor, (2) the Mortgage
Loan Seller, and (3) the Trust; provided, however, that a relationship (A) must be reported only if it then exists
or existed within the two prior years, (B) need not be reported if it is not material to an investor’s understanding of
the Certificates and (C) need not be disclosed for purposes of the applicable Form 
	
        any) when the Depositor notifies the parties to this
Agreement to the effect that such party no longer constitutes an originator of 10% or more of the assets of the Trust). 

        ●     Each
party (other than the Mortgage Loan Seller), if any, that is specifically identified as an “originator of 10% or more of
the assets of the Trust for purposes of Regulation AB and the upcoming Form 10-K” in a written notice delivered to the parties
to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year in which the Form 10-K
is due. 

        ●     Each
party (if any) that is identified in the Prospectus as an “other material party to the securities or transaction”
(or substantially similar phrasing); provided, however, that such a party shall no longer constitute a “Party Responsible”
under this item from and after the date (if any) when the Depositor notifies the parties to this Pooling and Servicing Agreement
to the effect that such party no longer constitutes a material party for purposes of Regulation AB. 

        ●     Each
        party (if any) that that is specifically identified as an “other material party to the securities or transaction for purposes
        of Regulation AB and the upcoming Form 10-K” (or substantially similar phrasing) in a written notice delivered by the Depositor
        to the parties to this Pooling and Servicing Agreement, which notice is delivered not later than February 15 of the year in which
        the Form 10-K is due.

         

 

    Exhibit CC-5 

     

    
 

	10-K if it was disclosed in the Prospectus or if it was previously reported as “Additional Form 10-K Disclosure”. 

                                                                                 
	 
	
        Instruction J(2)(e) (Affiliations and Certain Relationships and Related
        Transactions) – Part 2 of 2 Parts:

         

        1119(a) of Regulation AB,

         

        But only the existence and (if existent) how there is any affiliation
        between itself (that is, the particular “Party Responsible”), on the one hand, and any one or more of the parties listed
        under the preceding item as a “Party Responsible”, on the other; provided, however, that an affiliation
        need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus or if it was previously reported
        as “Additional Form 10-K Disclosure”.

         

        and

         

        ●     1119(b)
        of Regulation AB,

         

        but only the existence and (if existent) the general character
of any business relationship, agreement, arrangement, transaction or understanding that is entered into outside the ordinary course
of business or is on terms other than would be obtained in an arm’s length transaction with an unrelated third party (apart
from the Series 2016-GS4 transaction) between itself (that is, the particular “Party Responsible”), on the one hand,
and any one or more of the parties listed under the preceding item as a “Party Responsible”, on the other;
provided, however, that a relationship, agreement, arrangement, transaction or understanding (A) must be reported
only if it then exists or existed within the two prior years, (B) need not be reported if it is not material to an investor’s
understanding of the Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was 
	
        ●     The
Depositor 

        ●     The
        Mortgage Loan Seller

         

 

    Exhibit CC-6 

     

    
 

	
        disclosed in the Prospectus or if it was previously reported as “Additional
        Form 10-K Disclosure”.

         

        and

         

        ●     1119(c)
        of Regulation AB,

         

        but only the existence and (if existent) a description (including the
        terms and approximate dollar amount) of any specific relationship involving or related to the Series 2016-GS4 transaction or the
        Mortgage Loans or the Trust Subordinate Companion Loans between itself (that is, the particular “Party Responsible”)
        or any of its affiliates, on the one hand, and any one or more of the parties listed under the preceding item as a “Party
        Responsible”, on the other; provided, however, that a relationship (A) must be reported only if it then exists
        or existed within the two prior years, (B) need not be reported if it is not material to an investor’s understanding of the
        Certificates and (C) need not be disclosed for purposes of the applicable Form 10-K if it was disclosed in the Prospectus or if
        it was previously reported as “Additional Form 10-K Disclosure”.

         
	 
	
        Item 15: Exhibits (no. 2):

         

        Plan of acquisition, reorganization, arrangement, liquidation
or succession (Exhibit No. 2 of Item 601 of Regulation S-K) 
	●     Depositor
	
        Item 15: Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i) and
3(ii) of Item 601 of Regulation S-K) 
	●     Depositor

 

    Exhibit CC-7 

     

    
 

	Item 15: Exhibits
                                         (no. 4):

         

        With respect to instruments defining the rights of security
        holders (Exhibit No. 4 of Item 601 of Regulation S-K)

         
	●     Trustee 

        ●     Certificate
        Administrator 

        ●     Depositor

         

        provided, in each case, that this
        shall in no event be construed to make such party responsible for the initial filing of this Pooling and Servicing Agreement provided
        further, in each case, that in the event any reportable agreement is executed by the Depositor and the Trustee
        or Certificate Administrator, then the Depositor shall be the responsible party.
	 
	Item
                                         15: Exhibits (no. 10):

         

        Material contracts (Exhibit No. 10 of Item 601 of Regulation
        S-K)

         
	●     Certificate
    Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies
    all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans, the Trust Subordinate
    Companion Loans or REO Mortgage Loans, and (b) such contract is a contract to which such party (or a subcontractor or vendor
    engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have
    been executed on behalf of the Trust.	 
	Item
                                         15: Exhibits (no. 11):

         

        Statement regarding computation of per share earnings (Exhibit
        No. 11 of Item 601 of Regulation S-K) 
	●     Not
    Applicable	 
	Item
                                         15: Exhibits (no. 12):

         

        Statement regarding computation of ratios (Exhibit No. 12 of
        Item 601 of Regulation S-K) 
	●     Not
    Applicable.	 
	Item
                                         15: Exhibits (no. 13):

         

        Annual report to security holders, Form 10-Q and Form 10-QSB,
        or quarterly report to security holders (Exhibit No. 13 of Item 601 of Regulation S-K) 
	●     Not
    Applicable	 
	Item
                                         15: Exhibits (no. 14):

         

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation S-K) 
	●     Not
    Applicable.	 

 

    Exhibit CC-8 

     

    
 

	
        Item 15: Exhibits (no. 16):

         

        Letter re change in certifying accountant (Exhibit No. 16 of
Item 601 of Regulation S-K) 
	●     Not Applicable
	
        Item 15: Exhibits (no. 18):

         

        Letter re change in accounting principles (Exhibit No. 18 of
Item 601 of Regulation S-K) 
	●     Not Applicable.
	
        Item 15: Exhibits (no. 21):

         

        Subsidiaries of registrant (Exhibit No. 18 of Item 601 of Regulation
S-K) 
	●     Depositor.
	
        Item 15: Exhibits (no. 22):

         

        Published Report Regarding Matters Submitted to a Vote of Security
Holders (Exhibit No. 22 of Item 601 of Regulation S-K). 
	●     Not applicable.
	
        Item 15: Exhibits (no. 23) – Part 1 of 2 Parts:

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item
601 of Regulation S-K), where (a) the filing of a written consent is required with respect to material (in the Form 10-D) that
is incorporated by reference in the Depositor’s registration statement and (b) the consent is not the consent of a registered
public accounting firm in connection with an attestation delivered pursuant to Section 11.13 of this Pooling and Servicing Agreement. 
	●     Depositor
	
        Item 15: Exhibits (no. 23) – Part 2 of 2 Parts:

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation
        S-K), but the required shall consist of a consent of the registered public accounting firm for purposes of any attestation report
        rendered with respect to the particular “Party Responsible” pursuant to Section 11.13 of this Pooling and Servicing
        Agreement.

         
	
        ●     Master
Servicer 

        ●     Special
Servicer 

        ●     Depositor 

        ●     Any
        other Servicing Function Participant

         

        provided, however, in each
case, that such party shall have the duty to report or deliver, or cause the reporting or delivery, of such consent only to the
extent that such party is required to deliver or cause the delivery of the related attestation report. 

 

    Exhibit CC-9 

     

    
 

	
        Item 15: Exhibits (no. 24)

         

        Power of Attorney (Exhibit No. 24 of Item 601 of Regulation
S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a
party, is signed pursuant to a power of attorney. 
	●     Certificate Administrator 
	
        Item 15: Exhibits (no. 31(i))

         

        Rule 13a-14(a)/15d-14(a) Certifications (Exhibit No. 31(i) of
Item 601 of Regulation S-K). 
	●     Not Applicable
	
        Item 15: Exhibits (no. 31(ii))

         

        Rule 13a-14(d)/15d-14(d) Certifications (Exhibit No. 31(ii)
of Item 601 of Regulation S-K). 
	●     Delivery of this exhibit (Sarbanes-Oxley certification and backup certifications) is governed by Section 11.08 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibits (no. 32)

         

        Section 1350 Certifications (Exhibit No. 32 of Item 601 of Regulation
S-K). 
	●     Not Applicable.
	
        Item 15: Exhibits (no. 33)

         

        Report on assessment of compliance with servicing criteria for
asset-backed securities (Exhibit No. 33 of Item 601 of Regulation S-K). 
	●     Delivery of this exhibit (annual compliance assessment) is governed by Section 11.10 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibits (no. 34)

         

        Attestation report on assessment of compliance with servicing
criteria for asset-backed securities (Exhibit No. 34 of Item 601 of Regulation S-K). 
	●     Delivery of this exhibit (annual accountants’ attestation report) is governed by Section 11.11 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibits (no. 35)

         

        Servicer compliance statement (Exhibit No. 35 of Item 601 of
Regulation S-K). 
	●     Delivery of this exhibit (annual servicer compliance statements) is governed by Section 11.09 (and Section 11.07) of this Pooling and Servicing Agreement.
	
        Item 15: Exhibit (no. 36)

         

        Certification For Shelf Offerings of Asset-Backed Securities
(Exhibit No. 36 of Item 601 of Regulation S-K). 
	Depositor

 

    Exhibit CC-10 

     

    
 

	
        Item 15: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation
S-K) 
	●     Not Applicable.	 
	
        Item 15: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation
S-K). 
	●     Not Applicable.	 
	Item 15: Exhibits (By Operation of Item 9B Above), but only to the extent of any document that meets all the following conditions: (a) such document constitutes “Additional Form 8-K Disclosure” pursuant to Item 9.01(d) of Exhibit DD, (b) such document is required to be reported as “Additional Form 8-K Disclosure” during the period to which the Form 10-K relates, and (c) such document was not previously reported as “Additional Form 8-K Disclosure”.	●     Certificate Administrator, Depositor and Trustee, in each case only to the extent that such party is the “Party Responsible” for the exhibit pursuant to Item 9(d) of Exhibit DD (it being acknowledged that none of the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer or the 225 Bush Street Special Servicer constitutes a “Party Responsible” under Exhibit DD with respect to any exhibits to a Form 10-K).	 
	Item 15: Exhibit (no. 101)

Interactive Data File (Exhibit No. 101 of Item 601 of Regulation S-K).	Not Applicable	 
	Item 15: Exhibit (no. 102)

Asset Data File (Exhibit No. 102 of Item 601 of Regulation S-K).	
        [Certificate Administrator] 

        [Depositor] 
	 
	Item 15: Exhibit (no. 103)

Asset Related Document (Exhibit No, 103 of Item 601 of Regulation S-K).	
        [Certificate Administrator] 

        [Depositor] 
	 

 

    Exhibit CC-11 

     

    
 

EXHIBIT DD

 

FORM
8-K DISCLOSURE INFORMATION

 

The parties identified in the “Party
Responsible” column are obligated pursuant to Section 11.07 of the Pooling and Servicing Agreement to report to the Depositor
and the Certificate Administrator the occurrence of any event described in the corresponding Form 8-K Item described in the “Item
on Form 8-K” column to the extent such party has knowledge of such information (other than information as to itself). Each
of the Certificate Administrator, the Trustee, the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer
and the 225 Bush Street Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus
(other than information with respect to itself that is set forth in or omitted from the Prospectus), in the absence of specific
notice to the contrary from the Depositor or the Mortgage Loan Seller. Each of the Certificate Administrator, the Trustee, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer and the 225 Bush Street Special Servicer (in its
capacity as such) shall be entitled to assume that there is no “significant obligor” other than a party or property
identified as such in the Prospectus and to assume that no other party or property will constitute a “significant obligor”
after the Cut-off Date. In no event shall the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer or
the 225 Bush Street Special Servicer be required to provide any information for inclusion in a Form 8-K that relates to any Mortgage
Loan or Trust Subordinate Companion Loan for which the Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer
or the 225 Bush Street Special Servicer is not the applicable Master Servicer or Special Servicer, as the case may be. For this
GS Mortgage Securities Trust 2016-GS4 Pooling and Servicing Agreement, each of the Certificate Administrator, the Trustee, the
Master Servicer, the General Special Servicer, the AMA Plaza Special Servicer and the 225 Bush Street Special Servicer (in its
capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments
within the meaning of Items 1114 or 1115 of Regulation AB.

 

	Item on Form 8-K	Party Responsible 	 
	Item 1.01: Entry into a Material Definitive Agreement 	
        ●     Depositor,
except as described in the next bullet (it being acknowledged that Item 601 of Regulation S-K requires filing of material contracts
to which the registrant or a subsidiary thereof is a party).

         

        ●     Certificate
        Administrator, Trustee, Master Servicer and/or Special Servicer (it being acknowledged that Instruction 3 to Item 1.01 of Form
        8-K requires disclosure regarding the entry into or an amendment of a definitive agreement that is material to the asset-backed
        securities 
	 

 

    Exhibit DD-1 

     

    
 

	 	transaction,
    even if the registrant is not a party to such agreement), in each case to the extent of any amendment or definitive agreement
    that satisfies all the following conditions: (a) such amendment or definitive agreement relates to the Trust or one or more
    Mortgage Loans, the Trust Subordinate Companion Loans or REO Mortgage Loans, and (b) such amendment or definitive agreement is
    an amendment or definitive agreement to which such party (or a subcontractor or vendor engaged by such party) is a party or
    that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided, however,
    that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this
    Pooling and Servicing Agreement.	 
	Item 1.02: Termination of a Material Definitive Agreement– Part 1 of 2 Parts	●     Certificate Administrator, Trustee, Master Servicer and/or Special Servicer, in each case to the extent of any contract that satisfies all the following conditions: (a) such contract relates to the Trust or one or more Mortgage Loans, the Trust Subordinate Companion Loans or REO Mortgage Loans, and (b) such contract is a contract to which such party (or a subcontractor or vendor engaged by such party) is a party or that such party (or a subcontractor or vendor engaged by such party) has caused to have been executed on behalf of the Trust; provided, however, that the Certificate Administrator shall be the “Party Responsible” in connection with any amendment to this Pooling and Servicing Agreement.	 
	Item 1.02: Termination of a Material 	●     Depositor, to the extent of any 	 

 

    Exhibit DD-2 

     

    
 

	Definitive Agreement– Part 2 of 2 Parts	material
    agreement not covered in the prior item
	Item 1.03: Bankruptcy or Receivership	●     Depositor
	Item 2.04: Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement	
        ●     Depositor

        ●     Certificate
        Administrator

	Item 3.03: Material Modification to Rights of Security Holders	●     Certificate Administrator
	Item 5.03: Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year	●     Depositor
	Item 6.01: ABS Informational and Computational Material	●     Depositor
	Item 6.02 (Part 1 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a change in trustee	
        ●     Trustee

        ●     Depositor

	Item 6.02 (Part 2 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a change in Master Servicer, General Special Servicer, AMA Plaza Special Servicer or 225 Bush Street Special Servicer	
        ●     Certificate
        Administrator

        ●     Master
        Servicer or Special Servicer, as the case may be (in each case, as to itself)

	Item 6.02 (Part 3 of 3 Parts): Change of Servicer or Trustee, but only to the extent related to a servicer (other than a party to the Pooling and Servicing Agreement) appointed by the particular “Party Responsible”.	
        ●     Master
        Servicer

        ●     Special
        Servicer

        ●     Certificate
        Administrator

        ●     Depositor

	Item 6.03: Change in Credit Enhancement or External Support	
        ●     Depositor

        ●     Certificate
        Administrator

	Item 6.04: Failure to Make a Required Distribution	●     Certificate Administrator
	Item 6.05: Securities Act Updating Disclosure	●     Depositor
	Item 7.01: Regulation FD Disclosure	●     Depositor
	Item 8.01: Other Events	●     Depositor
	
        Item 9.01(d): Exhibits (no. 1):

         

        Underwriting agreement (Exhibit No. 1 of Item 601 of Regulation S-K)
	●     Not applicable
	
        Item 9.01(d): Exhibits (no. 2):

         

        Plan of acquisition, reorganization, arrangement, liquidation or succession
        (Exhibit No. 2 of Item 601 of Regulation S-K)
	●     Depositor

 

    Exhibit DD-3 

     

    
 

	
        Item 9.01(d): Exhibits (no. 3):

         

        Articles of incorporation and by-laws (Exhibit No. 3(i) and 3(ii) of Item
        601 of Regulation S-K)
	●     Depositor
	
        Item 9.01(d): Exhibits (no. 4):

         

        With respect to instruments defining the rights of security holders (Exhibit
        No. 4 of Item 601 of Regulation S-K)
	
        ●     Certificate
        Administrator

         

        provided, in each case, that this shall in no event be construed
        to make such party responsible for the initial filing of this Pooling and Servicing Agreement

	
        Item 9.01(d): Exhibits (no. 7):

         

        Correspondence from an independent accountant regarding non-reliance on
        a previously issued audit report or completed interim review. (Exhibit No. 7 of Item 601 of Regulation S-K)
	●     Not Applicable
	
        Item 9.01(d): Exhibits (no. 14):

         

        Code of Ethics (Exhibit No. 14 of Item 601 of Regulation S-K)
	●     Not Applicable
	
        Item 9.01(d): Exhibits (no. 16):

         

        Letter re change in certifying accountant (Exhibit No. 16 of Item 601 of
        Regulation S-K)
	●     Not Applicable
	
        Item 9.01(d): Exhibits (no. 17):

         

        Correspondence on departure of director (Exhibit No. 17 of Item 601 of
        Regulation S-K)
	●     Not Applicable
	
        Item 9.01(d): Exhibits (no. 20):

         

        Other documents or statements to security holders (Exhibit No. 20 of Item
        601 of Regulation S-K)
	●     Not Applicable
	
        Item 9.01(d): Exhibits (no. 23):

         

        Consents of Experts and Counsel (Exhibit No. 23(ii) of Item 601 of Regulation
        S-K), where the filing of a written consent is required with respect to material (in the Form 10-D) that is incorporated by reference
        in the Depositor’s registration statement.
	●     Depositor
	
        Item 9.01(d): Exhibits (no. 24)

         
	●     Certificate Administrator 

 

    Exhibit DD-4 

     

    
 

	Power of Attorney (Exhibit No. 24 of Item 601 of Regulation S-K), but only if the name of any party signing the Form 10-D, or the name of any officer signing the Form 10-D on behalf of a party, is signed pursuant to a power of attorney.	 
	
        Item 15: Exhibits (no. 99)

         

        Additional exhibits (Exhibit No. 99 of Item 601 of Regulation S-K)
	●     Not Applicable.
	
        Item 15: Exhibits (no. 100)

         

        XBRL-Related Documents (Exhibit No. 100 of Item 601 of Regulation S-K).
	●     Not Applicable.

 

    Exhibit DD-5 

     

    
 

EXHIBIT
EE

 

ADDITIONAL
DISCLOSURE NOTIFICATION

 

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO cts.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO THE ADDRESS
IMMEDIATELY BELOW**

 

Wells Fargo Bank, National Association, as Certificate
Administrator 

9062 Old Annapolis Road 

Columbia, Maryland 21045-1951 

Attn: Corporate Trust Services (CMBS) GS Mortgage
Securities Trust 2016-GS4

 

RE: **Additional Form [10-D][10-K][8-K] Disclosure**
Required

 

Ladies and Gentlemen:

 

In accordance with Section [11.04] [11.05]
[11.07] of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor (the “Depositor”), Wells Fargo Bank, National
Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division
of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer,
Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association,
as Trustee, the undersigned, as [               ], hereby notifies you that certain events have come to our attention that [will] [may] need
to be disclosed on Form [10-D][10-K][8-K].

 

Description of Additional Form [10-D][10-K][8-K]
Disclosure:

 

List of any Attachments hereto to be included
in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any inquiries related to this notification should be directed to [                     ],
phone number: [                      ]; email address: [                      ].

  

	 	[NAME OF PARTY], as [role]
		 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

cc: Depositor

 

    Exhibit EE-1 

     

    

 

EXHIBIT
FF

 

INITIAL
SUB-SERVICERS

 

	Mortgage Loan Seller	Property Name	Sub-Servicer Name	Sub-Servicer’s Duties
	GSMC	Crossroads Shopping Center	NorthMarq Capital, LLC	Cashiering
	GSMC	Quad at Whittier	CBRE Loan Services, Inc.	Not Applicable, Broker Strip
	GSMC	Village Square	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Hilton Garden Inn Old Town	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Poipu Shopping Village	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Alton Corporate Plaza	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Center For The Medical Arts	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Holiday Inn Hollywood	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Michaels Distribution Center	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Berkshire Hathaway	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	3507 Ringsby Court	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Wesco International	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Therma Tru Doors	Holliday Fenoglio Fowler, L.P.	Not Applicable, Broker Strip
	GSMC	Michaels at Stoneridge Shopping Center	Bellwether Enterprise Real Estate Capital, LLC	Not Applicable, Broker Strip

 

    	 	Exhibit FF-1	 

     

    

 

EXHIBIT
GG

 

SERVICING
FUNCTION PARTICIPANTS

 

None.

 

    	 	Exhibit GG-1	 

     

    

 

EXHIBIT
HH

 

FORM
OF ANNUAL COMPLIANCE STATEMENT

 

CERTIFICATION

GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates, Series 2016-GS4 (the “Trust”)

 

I, [identifying the certifying
individual], on behalf of [Wells Fargo Bank, National Association, as Master Servicer] [Midland Loan Services, a Division of PNC
Bank, National Association, as General Special Servicer] [Wells Fargo Bank, National Association, as 225 Bush Street Special Servicer]
[AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer] [Wilmington Trust, National Association, as Trustee] [Wells
Fargo Bank, National Association, as Certificate Administrator] (the “Certifying Servicer”), certify to GS Mortgage
Securities Corporation II and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon
this certification, that:

 

		1.	I (or Servicing Officers under my supervision) have reviewed the Certifying Servicer’s activities
[during the preceding calendar year] [between [__] and [__]] and the Certifying Servicer’s performance under the Pooling
and Servicing Agreement; and

 

		2.	To the best of my knowledge, based on such review, the Certifying Servicer has fulfilled all of
its obligations under the Pooling and Servicing Agreement in all material respects [throughout such year] [between [__] and [__]].
[To my knowledge, the Certifying Servicer has failed to fulfill the following obligations under the Pooling and Servicing Agreement:
[SPECIFY EACH SUCH FAILURE AND THE NATURE AND STATUS THEREOF]].

 

	Date:	 	

 

 

[WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Master Servicer]

[MIDLAND LOAN SERVICES, A DIVISION OF PNC

BANK, NATIONAL ASSOCIATION, as General Special

Servicer]

[WELLS FARGO BANK, NATIONAL ASSOCIATION,

as AMA Plaza Special Servicer]

 

    	 	Exhibit HH-1	 

     

    

 

[AEGON
USA REALTY ADVISORS, LLC, as 225 Bush Street Special Servicer]

[WELLS FARGO BANK, NATIONAL ASSOCIATION as Certificate Administrator]

[WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee]

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	 	Exhibit HH-2	 

     

    

 

EXHIBIT
II

 

FORM
OF REPORT ON ASSESSMENT OF

COMPLIANCE with SERVICING CRITERIA

 

		1.	[Name of Reporting Servicer] (the “Reporting
Servicer”) is responsible for assessing compliance with the servicing criteria applicable to it under paragraph
(d) of Item 1122 of Regulation AB, as of and for the 12-month period ending December 31, 20[__] (the “Reporting
Period”), as set forth in Exhibit AA to the Pooling and Servicing Agreement. The transactions covered by this
report include asset-backed securities transactions for which the Reporting Servicer acted as [a master servicer, special servicer,
trustee, certificate administrator, asset representations reviewer] involving commercial mortgage loans [other than __________________1]
(the “Platform”);

 

The Reporting Servicer has engaged certain
vendors, which are not servicers as defined in Item 1101(j) of Regulation AB (the “Vendors”)
to perform specific, limited or scripted activities, and the Reporting Servicer elects to take responsibility for assessing compliance
with the servicing criteria or portion of the servicing criteria applicable to such Vendors’ activities as set forth on Schedule
A;

 

Except as set forth in paragraph 4 below,
the Reporting Servicer used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess the compliance with
the applicable servicing criteria;

 

The criteria listed in the column titled
“Inapplicable Servicing Criteria” on Schedule A hereto are inapplicable to the Reporting Servicer based on the activities
it performs, directly or through its Vendors, with respect to the Platform;

 

The Reporting Servicer has complied, in
all material respects, with the applicable servicing criteria as of December 31, 20[__] and for the Reporting Period with respect
to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The Reporting Servicer has not identified
and is not aware of any material instance of noncompliance by the Vendors with the applicable servicing criteria as of December
31, 20[__] and for the Reporting Period with respect to the Platform taken as a whole[, except as described on Schedule B hereto];

 

The Reporting Servicer has not identified
any material deficiency in its policies and procedures to monitor the compliance by the Vendors with the applicable servicing criteria
as of December 31, 20[__] and for the Reporting Period with respect to the Platform taken as a whole[, except as described on
Schedule B hereto]; and

 

[____], a registered public accounting
firm, has issued an attestation report on the Reporting Servicer’s assessment of compliance with the applicable servicing
criteria for the Reporting Period.

 

    	 	Exhibit II-1	 

     

    

 

1 Describe any permissible exclusions,
including those permitted under telephone interpretation 17.04 (i.e. transactions registered prior to compliance with Regulation
AB, transactions involving an offer and sale of asset-backed securities that were not required to be issued), if applicable.

 

[Date of Certification]

 

	 	[Name
of Reporting Servicer]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 	Exhibit II-2	 

     

    

 

EXHIBIT
JJ

 

CREFC®
PAYMENT INFORMATION

 

Payments shall be made to “CRE Finance Council”
and sent to: 

Commercial Real Estate Finance Council, Inc. 

900 7th Street, NW, Suite 820 

Washington, DC 20001 

Attn: President

 

or by wire transfer to:

 

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

Bank Name: Chase

Bank Address: 80 Broadway, New York, NY 10005

Routing Number: 021000021 

Account Number: 213597397

 

    	 	Exhibit JJ-1	 

     

    

 

EXHIBIT
KK

 

Form
of Notice of ADDITIONAL  

INDEBTEDNESS
NOTIFICATION

 

VIA E-MAIL:

 

To: Wells Fargo Bank, National Association, as Certificate
Administrator; cts.sec.notifications@wellsfargo.com; trustadministrationgroup@wellsfargo.com

 

Ref: GSMS 2016-GS4, Additional Debt Notice for From 10-D

 

The following information is being furnished to you for inclusion
on Form 10-D pursuant to Section 3.18(g) of the Pooling and Servicing Agreement

 

	 	Portfolio
    Name	Mortgage
    Loan	Position
    in Debt Stack	Additional
    Debt	OPB	OPB
    Date	Appraised
    Value	Appraised
    Value Date	Aggregate
    LTV	Aggregate
    NCF DSCR	Aggregate
    NCF DSCR Date	Primary
    Servicer	Master
    Servicer	Lead
    Servicer	Prospectus
    ID
	1	GSMS
    2016-GS4	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$
	 	 	$	 	%	 	 	 	 	 	 
	 	 Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 
	2	GSMS
    2016-GS4	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$
	 	 	$	 	%	 	 	 	 	 	 
	 	 Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 
	3	GSMS
    2016-GS4	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$	 	 	$	 	%	 	 	 	 	 	 
	 	Outside
    the Trust	 	 	$
	 	 	$	 	%	 	 	 	 	 	 
	 	 Total	 	 	$	 	 	 	 	 	 	 	 	 	 	 

 

    	 	Exhibit KK-1	 

     

    

 

EXHIBIT
LL

 

Form
of Notice of Exchangeable Certificates

for the Class PEZ Certificates

 

Wells Fargo Bank, National Association

     as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attn: Corporate Trust Services (CMBS) GS Mortgage Securities
Trust 2016-GS4

Via email to:

 

		●	cts.cmbs.bond.admin@wellsfargo.com

 

Ladies and Gentlemen:

 

In accordance with
Section 5.09 of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as
AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, the undersigned,
as Certificateholder or Certificate Owner, we hereby give notice of our intent to present and surrender the [Class A-S, Class B
and Class C Certificates specified on Schedule I attached hereto] [Class PEZ Certificates specified on Schedule I attached hereto]
and all of our right, title and interest in and to such [Class A-S, Class B and Class C Certificates][Class PEZ Certificates],
including all payments of interest thereon received after [_____________], in exchange for the [Class PEZ Certificates specified
on Schedule I attached hereto][Class A-S, Class B and Class C Certificates specified on Schedule I attached hereto]. We propose
an Exchange Date of [______].

 

We agree that upon
such exchange, our interests in the portions of the [Class A-S, Class B and Class C Certificates][Class PEZ Certificates] designated
for exchange shall be cancelled and replaced by the [Class PEZ Certificates][Class A-S, Class B and Class C Certificates] issued
in exchange therefor.

 

[[If Applicable] Our Depository participant
number is [________].]

 

Capitalized terms used in this notice but not defined herein
have the meanings assigned to them in the Pooling and Servicing Agreement. 

 

    	 	Exhibit LL-1	 

     

    

 

	 	[________________]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:]

 

    	 	Exhibit LL-2	 

     

    

 

SCHEDULE I

 

CERTIFICATES TO BE EXCHANGED

	Certificates
    to 

    be exchanged	CUSIP
    (of 

    Certificates to 

    be exchanged)	outstanding
    

    principal 

    balance of the 

    Initial 

    Certificate 

    Balance of 

    Certificates to 

    be exchanged	Certificates
    to 

    be received	CUSIP
    (of 

    Certificates to 

    be received)
	 	
	 	 	 

         

         

 

The Exchangeable Certificates may be exchanged only in the Exchange
Proportion designated in the Pooling and Servicing Agreement.

 

    	 	Exhibit LL-3	 

     

    

 

EXHIBIT
MM

 

ADDITIONAL
DISCLOSURE NOTIFICATION (ACCOUNTS)

 

INSTRUCTIONS:

 

FOR ACCOUNT BALANCE REPORTING: SEND VIA EMAIL TO: 

CTS.SEC.NOTIFICATIONS@WELLSFARGO.COM

 

FOR ALL OTHER NOTIFICATIONS: SEND VIA FAX, EMAIL AND OVERNIGHT
MAIL TO THE ADDRESS IMMEDIATELY BELOW**

 

Wells Fargo Bank, National Association, as Certificate Administrator 

9062 Old Annapolis Road 

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS) 

GS Mortgage Securities Trust 2016-GS4 

E-Mail: cts.sec.notifications@wellsfargo.com

 

RE: **Additional Form [10-D][10-K][8-K] Disclosure** Required

 

Ladies and Gentlemen:

 

In accordance with Section 11.04 of the
Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”), by and
among GS Mortgage Securities Corporation II, as Depositor (the “Depositor”), Wells Fargo Bank, National Association,
as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank,
National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge
Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as
Trustee, the undersigned, as [ ], hereby notifies you that certain events have come to our attention that [will] [may] need to
be disclosed on Form [10-D][10-K][8-K].

 

Description of Additional Form [10-D][10-K][8-K]
Disclosure:

 

[With respect to the Collection Account and REO Account balance
information:

 

	Account Name	
        Beginning Balance as of 

        MM/DD/YYYY
	
        Ending Balance as of 

        MM/DD/YYYY

	Collection Account	 	 
	REO Account	 	 

 

    	 	Exhibit MM-1	 

     

    

 

List of any Attachments hereto to be included in the Additional
Form [10-D][10-K][8-K] Disclosure:

 

Any inquiries related to this notification should be directed
to [                ], phone number: [                ]; email address: [                ].

 

	 	[NAME OF PARTY],
	 	as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

cc: Depositor

 

    	 	Exhibit MM-2	 

     

    

 

EXHIBIT
NN

 

Form
of NOTICE OF PURCHASE OF CONTROLLING CLASS CERTIFICATE

 

[Date]

 

Wells Fargo Bank, National Association

     as Certificate Administrator

9062 Old Annapolis Road

Columbia, Maryland 21045-1951 

Attention: Corporate Trust Services (CMBS) 

GS Mortgage Securities Trust 2016-GS4

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com

 

Midland Loan Services, a Division of PNC Bank, National Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210 

Attn: Executive Vice President – Division Head

Fax number: (888) 706-3565

 

Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com

 

AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE, 

Cedar Rapids, Iowa 52499

 

Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: GSMS 2016-GS4 Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

 

    	 	Exhibit NN-1	 

     

    

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 (the “Certificates”) issued pursuant
to the Pooling and Servicing Agreement (the “Pooling and Servicing
Agreement”), dated as of November 1, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan
Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush
Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee 

 

This letter is delivered
to you, pursuant to Section 3.23(a) of the Pooling and Servicing Agreement in connection with the transfer by ____________ (the
“Transferor”) to us (the “Transferee”)
of $__________________ original principal balance in the Class [__] Certificates, representing [_____]% of the Class [__] Certificates.
The Certificates were issued pursuant to the Pooling and Servicing Agreement.

 

		1.	Our name and address is as follows:

 

	 
	 
	 

 

Contact Info:
[Tel/Email]

 

		2.	[IF APPLICABLE] We hereby certify, represent and warrant to you, as Certificate Administrator,
that we are purchasing a majority interest in the Class [__] Certificates, and that we are not affiliated with the Transferor.
To the extent that any Control Termination Event or Consultation Termination Event has occurred due to a waiver of a prior Class
[__] Certificateholder of its rights under the Pooling and Servicing Agreement, we hereby request that you reinstate such rights
and post a “special notice” on your website to the following effect:

 

“A Consultation
Termination Event or a Control Termination Event has been terminated and is no longer in effect due to a transfer of a majority
interest of the Controlling Class to an unaffiliated third party which has terminated any waiver by the prior Holder.

 

All capitalized terms
used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.

 

    	 	Exhibit NN-2	 

     

    

 

	 	Very truly yours,
	 	
	 	 	(Transferee)
	 	 	 
	 	By:	 
	 	 	  Name:
	 	 	  Title:

 

    	 	Exhibit NN-3	 

     

    

 

EXHIBIT
OO

 

FORM OF ASSET REVIEW
REPORT

 

BY THE ASSET REPRESENTATIONS
REVIEWER5

 

To: [Addresses of Recipients]

 

		Re:	GS Mortgage Securities Trust 2016-GS4

 

Ladies and
Gentlemen:

 

In accordance
with Section 12.01 of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
the undersigned Asset Representations Reviewer (“ARR”) has performed an Asset Review on each Delinquent Mortgage
Loan identified in accordance with the terms of the Pooling and Servicing Agreement, and is hereby issuing the following Asset
Review Report.

 

		1.	As described in the detailed scorecard attached hereto as Exhibit A, we have
performed an Asset Review on each Delinquent Mortgage Loan identified in accordance with the terms of the Pooling and Servicing
Agreement and our conclusion is that there is [no evidence of a Test failure/evidence of [•] Test failures] with respect to
the Delinquent Mortgage Loans.

 

		2.	A conclusion by the ARR of a Test pass or a Test failure shall not constitute a determination by
the ARR of (i) the existence or nonexistence of a Material Defect, or (ii) whether the Trust should enforce any rights it may have
against the Mortgage Loan Seller. In addition, the Tests may not be sufficient to determine every instance of noncompliance.

 

		3.	The ARR, other than forwarding this report to the persons listed above, will not be required to
take or participate in any other or further action with respect to the aforementioned Asset Review Report.

 

		4.	Capitalized words and phrases used herein shall have the respective meanings assigned to them in
the above-captioned Pooling and Servicing Agreement.

 

	 	PARK BRIDGE LENDER SERVICES LLC, as Asset Representations Reviewer
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

 

5
This report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter
the organization and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including
without limitation, provisions relating to Privileged Information.

 

    	 	Exhibit OO-1	 

     

    

 

EXHIBIT
PP

 

FORM OF ASSET REVIEW
REPORT SUMMARY6

 

To: [Addresses of Recipients]

 

		Re:	GS Mortgage Securities Trust 2016-GS4

 

Ladies and
Gentlemen:

 

In accordance
with Section 12.01 of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
the undersigned Asset Representations Reviewer (“ARR”) has performed an Asset Review on each Delinquent Mortgage
Loan identified in accordance with the terms of the Pooling and Servicing Agreement, and is hereby issuing the following Asset
Review Report Summary.

 

		1.	As described in the summary scorecard attached hereto as Exhibit A, we have
performed an Asset Review on each Delinquent Mortgage Loan identified in accordance with the terms of the Pooling and Servicing
Agreement and our conclusion is that there is [no evidence of a Test failure/evidence of [•] Test failures] with respect to
the Delinquent Mortgage Loans.

 

		2.	A conclusion by the ARR of a Test pass or a Test failure shall not constitute
a determination by the ARR of (i) the existence or nonexistence of a Material Defect, or (ii) whether the Trust should enforce
any rights it may have against the Mortgage Loan Seller. In addition, the Tests may not be sufficient to determine every instance
of noncompliance.

 

		3.	The ARR, other than forwarding this Asset Review Report Summary to the parties listed above, will
not be required to take or participate in any other or further action with respect to the aforementioned Asset Review Report Summary.

 

		4.	Capitalized words and phrases used herein shall have the respective meanings assigned to them in
the above-captioned Pooling and Servicing Agreement.

 

	 	PARK BRIDGE LENDER SERVICES LLC, as Asset Representations Reviewer
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

 

6
This report is an indicative report, and the Asset Representations Reviewer will have the ability to modify or alter the organization
and content of this report, subject to compliance with the terms of the Pooling and Servicing Agreement, including without limitation,
provisions relating to Privileged Information.

 

    	 	Exhibit PP-1	 

     

    

 

Exhibit A

 

Summary Scorecard [Template Example Below]

 

	
        Test failures

         
	 	 	 	 
	Loan #	Loan Name	Representations and Warranty #	Representation and Warranty Name	Test #
	[Insert Loan #]	[Insert Loan Name]	44	Lease Estoppels	44c
	32	Due on Sale or Encumbrance	32b

 

    	 	Exhibit PP-2	 

     

    

 

EXHIBIT
QQ

 

ASSET REVIEW PROCEDURES

 

Pursuant to the terms and subject to the
conditions set forth in the Pooling and Servicing Agreement, the Asset Representations Reviewer (“Asset Representations
Reviewer”) shall perform an Asset Review with respect to each representation and warranty made by the Mortgage Loan Seller
only with respect to each Delinquent Mortgage Loan in accordance with the procedures set forth below (each such procedure, a “Test”);
provided, however, the Asset Representations Reviewer may, but is under no obligation to, modify any Test and/or associated Review
Materials described in this Exhibit QQ if, and only to the extent, the Asset Representations Reviewer determines pursuant to the
Asset Review Standard that it is necessary to modify such Test and/or such associated Review Materials in order to facilitate its
Asset Review in accordance with the Asset Review Standard.. Capitalized terms used herein but not defined herein have the meaning
set forth in the Pooling and Servicing Agreement or, solely with respect to a representation and warranty, the meaning set forth
in the related Mortgage Loan Purchase Agreement. For the avoidance of doubt, in connection with the performance of the following
Tests:

 

		(A)	With respect to any representation and warranty that includes a knowledge qualifier (e.g.,
to the Mortgage Loan Seller’s knowledge, etc.), the Asset Representations Reviewer shall not be responsible for any investigation
or review beyond that set forth in the applicable Test related to such representation and warranty;

 

		(B)	With respect to any representation and warranty that includes the examination of an insurance policy, or title policy, the
Asset Representations Reviewer will be permitted to engage a qualified consultant to perform a review of the such policy, and will
be allowed to rely upon the conclusions of the consultant for the purpose of determining a Test pass or fail.

 

		(C)	The Asset Representations Reviewer shall be under no duty to provide or obtain a legal opinion, legal review or legal conclusion;

 

		(D)	Unless otherwise provided in the Test, the “as of” date for the testing of a representation is as of the Closing
Date;

 

		(E)	Unless otherwise provided in the Test, if there is more than one version of the same document with respect to a particular
Mortgage Loan or Mortgaged Property, the document that will be used by the Asset Representations Reviewer in testing is the document
that is dated as of the Closing Date or, if none, the document closest prior to the Closing Date;

 

		(F)	With respect to each representation and warranty and its related Test(s), the Asset Representations Reviewer shall take into
account any exceptions to such representation and warranty described in the Mortgage Loan Purchase Agreement with respect to a
Mortgage Loan, and a Test pass shall be deemed to have occurred with respect to such 

 

    	 	Exhibit QQ-1	 

     

    

 

		 	Test if the sole reason for not satisfying
the applicable Test is caused by such exception(s);

 

		(G)	Evidence of a failure of a Test could result from (i) an affirmative determination by the Asset Representations Reviewer that
the Test failed to achieve a Test pass, or (ii) a determination by the Asset Representations Reviewer that the documentation included
in the Review Materials (after making such request for any missing documents in the manner provided for in the Pooling and Servicing
Agreement) is not sufficient to perform the Test; and

 

		(H)	A determination by the Asset Representations Reviewer of a Test pass or a Test failure shall not constitute a determination
by the Asset Representations Reviewer of (i) the existence or nonexistence of a Material Defect, or (ii) whether the Trust should
enforce any rights it may have against the applicable Mortgage Loan Seller.

 

The Asset Representations Reviewer will only be required to
perform the Tests described in this Exhibit QQ, and will not be obligated to perform additional procedures on any Delinquent Mortgage
Loan. Notwithstanding the required Tests, the Asset Representations Reviewer will not be required to review any information other
than (1) the Review Materials specified in the related Test and (2) if applicable, Unsolicited Information. The Asset Representations
Reviewer may, but is under no obligation to, consider Unsolicited Information relevant to the Tests subject to the terms of the
Pooling and Servicing Agreement. If the Asset Representations Reviewer considers Unsolicited Information, the Asset Representations
Reviewer shall take into account such Unsolicited Information, in addition to the Review Materials referred to in the applicable
Test(s) procedure when making a determination as to whether there is a Test pass.

 

    	 	Exhibit QQ-2	 

     

    

 

	 Representations and Warranties	          Test	Review
    Materials
	 1.  Whole
    Loan; Ownership of Mortgage Loans.  Except with respect to a Mortgage Loan that is part of a Whole Loan, each
    Mortgage Loan is a Whole Loan and not a participation interest in a Mortgage Loan.  Each Mortgage Loan that is part
    of a Whole Loan is a senior or pari passu portion of a Whole Loan evidenced by a senior or pari passu note.  At
    the time of the sale, transfer and assignment to Depositor, no Mortgage Note or Mortgage was subject to any assignment (other
    than assignments to the Mortgage Loan Seller), participation or pledge, and the Mortgage Loan Seller had good title to, and
    was the sole owner of, each Mortgage Loan free and clear of any and all liens, charges, pledges, encumbrances, participations,
    any other ownership interests on, in or to such Mortgage Loan other than any servicing rights appointment or similar agreement,
    any other pooling and servicing agreement with respect to a Non-Serviced Mortgage Loan and rights of the holder of a related
    Companion Loan pursuant to a Co-Lender Agreement.  The Mortgage Loan Seller has full right and authority to sell,
    assign and transfer each Mortgage Loan, and the assignment to Depositor constitutes a legal, valid and binding assignment
    of such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering
    such Mortgage Loan other than the rights of the holder of a related Companion Loan pursuant to a Co-Lender Agreement.	1a	Except
    with respect to a Mortgage Loan that is part of a Whole Loan, review the amounts listed on the original Mortgage Note and
    Mortgage for an indication that they match the amounts listed on the Mortgage Loan Schedule.   If the amounts
    are the same, then such Mortgage Loan would be considered a Whole Loan.  If there is more than one property then
    the Mortgage for each Mortgaged Property would need to be aggregated. If identified as such, it will be a Test pass.	Mortgage;
    Mortgage Note; loan agreement related to the Mortgage Loan (“Loan Agreement”); Mortgage Loan guaranty;
    Assignment of Leases; and Environmental Indemnity Agreement (collectively, the “Mortgage Loan Documents”);
    Mortgage Loan Schedule.
	1b	If
    a Mortgage Loan is part of a Whole Loan, review the Co-Lender Agreement and the Mortgage(s), Mortgage Note, loan agreement
    related to the Mortgage Loan (“Loan Agreement”), Mortgage Loan guaranty, Assignment of Leases, and Environmental
    Indemnity Agreement (collectively, the “Mortgage Loan Documents”) for an indication that it is a senior
    or a pari passu portion of a Whole Loan. If identified as such, it will be a Test pass.	Mortgage
    Loan Documents; Co-Lender Agreement
	1c	Review
    any notice of a breach of a representation or warranty relating to any Delinquent Mortgage Loan received by any other party
    to the Pooling and Servicing Agreement (collectively, the “PSA Party Notices”)  for notation
    of (i) any Mortgage Note or Mortgage that was subject to any assignment (other than assignments to the Mortgage Loan Seller),
    participation or pledge; (ii) that the Mortgage Loan Seller did not have good title to or was not the sole owner of  Mortgage
    Loan; or (iii) any Mortgage Loan was not free and clear of any and all liens, charges, pledges, encumbrances, participations,
    any other ownership interests on, in or to such Mortgage Loan other than any servicing rights appointment or similar agreement,
    any Other Pooling and Servicing Agreement with respect to a Serviced Companion Loan and rights of the holder of a related
    Companion Loan pursuant to a Co-Lender Agreement.  If no such notation is found, it will be a Test pass.	PSA
    Party Notices
	1d	Review
    the PSA Party Notices for notation of any claim or	PSA
    Party Notices

 

    Exhibit QQ-3

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	assertion regarding the Mortgage Loan Seller not having the full right and authority to sell, assign and transfer the Mortgage Loan. If such notation is not found, it will be a Test pass.	 
	1e	Review the PSA Party Notices for notation of any claim or assertion regarding the assignment to the Depositor not constituting a legal, valid and binding assignment of such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering such Mortgage Loan other than the rights of the holder of a related Companion Loan pursuant to a Co-Lender Agreement. If such notation is not found, it will be a Test pass.	PSA Party Notices
	
        2.     Loan
        Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and
        other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such
        Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any
        non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value
        limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such
        enforcement may be limited by (a) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other
        similar laws affecting the enforcement of creditors’ rights generally and (b) general principles of equity
        (regardless of whether such enforcement is considered in a proceeding in equity or at law) and (ii) that certain
        provisions in such Mortgage Loan Documents (including, without limitation, provisions requiring the payment of default
        interest, late fees or prepayment/yield maintenance fees, charges and/or premiums) are, or may be, further limited or
        rendered unenforceable by or under applicable law, but (subject to the limitations set forth in clause (i) above)
        such limitations or unenforceability will not render such Mortgage Loan Documents invalid as a whole or materially interfere
        with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i)
        and (ii) collectively, the “Standard Qualifications”). 

        Except as set forth in the immediately preceding sentence, there is
no 
	2a	Review the opinion of Mortgagor’s counsel (“Mortgagor’s Counsel Opinion”) for an indication that it contains language that the related Mortgage Note, Mortgage, Assignment of Leases (if a separate instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except as specified in representation and warranty 2. If such indication exists, it will be a Test pass.	Mortgagor’s Counsel Opinion
	2b	Review the PSA Party Notices for notation of any valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages, Assignment of Leases (if a separate document) or other Mortgage Loan Documents, including, without limitation, any such valid offset, defense, counterclaim or right of rescission based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan Documents. If no such notation is found, it will be a Test pass.	PSA Party Notices

 

    Exhibit QQ-4

     

    

 

	 Representations and Warranties	          Test	Review Materials
	valid offset, defense, counterclaim or right of rescission available to the related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Mortgage Loan Documents, including, without limitation, any such valid offset, defense, counterclaim or right based on intentional fraud by the Mortgage Loan Seller in connection with the origination of the Mortgage Loan, that would deny the mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage or other Mortgage Loan Documents.	 	 	 
	
         3.   Mortgage Provisions.
        The Mortgage Loan Documents for each Mortgage Loan contain provisions that render the rights and remedies of the holder thereof
        adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be
        provided thereby, including realization by judicial or, if applicable, nonjudicial foreclosure subject to the limitations set forth
        in the Standard Qualifications.

         
	3	Review the Mortgage Loan Documents and Mortgagor’s Counsel Opinion for an indication that the Mortgage Loan Documents contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, nonjudicial foreclosure subject to the limitations set forth in the Standard Qualifications (as defined in representation and warranty 2). If such indication exists, it will be a Test pass.	Mortgage Loan Documents; Mortgagor’s Counsel Opinion
	
         4.   Mortgage Status; Waivers
        and Modifications. Since origination and except by written instruments set forth in the related Mortgage File (a) the
        material terms of such Mortgage, Mortgage Note, Mortgage Loan guaranty, and related Mortgage Loan Documents have not been waived,
        impaired, modified, altered, satisfied, canceled, subordinated or rescinded in any respect which materially interferes with the
        security intended to be provided by such Mortgage; (b) no related Mortgaged Property or any portion thereof has been released
        from the lien of the related Mortgage in any manner which materially interferes with the security intended to be provided by such
        Mortgage or the use or operation of the remaining portion of such Mortgaged Property; and (c) neither the related Mortgagor
        nor the related guarantor has been released from its material obligations under the Mortgage Loan.

         
	4a	Review the Mortgage Loan Documents and the PSA Party Notices for an indication that the material terms of such documents have been waived, impaired, modified, altered, satisfied, cancelled, subordinated or rescinded in any respect which materially interferes with the security intended to be provided by such Mortgage, except by written instruments set forth in the related Mortgage File.  If no such indication is found, it will be a Test pass.	Mortgage Loan Documents; PSA Party Notices 
	4b	Review the PSA Party Notices and Mortgage Loan Documents for an indication that a related Mortgaged Property, or any portion thereof, has been released from the lien of the related Mortgage in any manner which materially interferes with the security intended to be provided by such Mortgage or the use or operation of the remaining portion of such Mortgaged Property except by written instruments set forth in the related Mortgage File. If no such indication is found, it will be a Test pass.	PSA Party Notices; Mortgage Loan Documents
	4c	Review the PSA Party Notices and Mortgage Loan Documents for notation that neither the related Mortgagor nor the related guarantor has been released from its material obligations under the Mortgage Loan except by written instruments set forth in the related Mortgage File.  If no such notation is found, it will be a 	PSA Party Notices; Mortgage Loan Documents

 

    Exhibit QQ-5

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	Test pass.	 
	
         5.   Lien; Valid Assignment.
        Subject to the Standard Qualifications, each assignment of Mortgage and assignment of Assignment of Leases to the Trust constitutes
        a legal, valid and binding assignment to the Trust. Each related Mortgage and Assignment of Leases is freely assignable without
        the consent of the related Mortgagor. Each related Mortgage is a legal, valid and enforceable first lien on the related Mortgagor’s
        fee (or if identified on the Mortgage Loan Schedule, leasehold) interest in the Mortgaged Property in the principal amount of such
        Mortgage Loan or allocated loan amount (subject only to Permitted Encumbrances (as defined below) and the exceptions to paragraph (6)
        set forth on Annex D-2 (each such exception, a “Title Exception”)), except as the enforcement thereof may be
        limited by the Standard Qualifications. Such Mortgaged Property (subject to and excepting Permitted Encumbrances and the Title
        Exceptions) as of origination was, and as of the Cut-off Date, to the Mortgage Loan Seller’s knowledge, is free and clear
        of any recorded mechanics’ liens, recorded materialmens liens and other recorded encumbrances which are prior to or equal
        with the lien of the related Mortgage, except those which are bonded over, escrowed for or insured against by a lender’s
        title insurance policy (as described below), and, to the Mortgage Loan Seller’s knowledge and subject to the rights of tenants
        (as tenants only) (subject to and excepting Permitted Encumbrances and the Title Exceptions), no rights exist which under law could
        give rise to any such lien or encumbrance that would be prior to or equal with the lien of the related Mortgage, except those which
        are bonded over, escrowed for or insured against by a lender’s title insurance policy (as described below). Notwithstanding
        anything in this representation to the contrary, no representation is made as to the perfection of any security interest in rents
        or other personal property to the extent that possession or control of such items or actions other than the filing of Uniform Commercial
        Code financing statements is required in order to effect such perfection.

         
	5a	Review the PSA Party Notices for notation that any assignment of Mortgage or Assignment of Leases to the Trust does not constitute a legal, valid and binding assignment to the Trust, subject to the Standard Qualifications. If no such notation is found, it will be a Test pass.	PSA Party Notices
	5b	Review the Mortgage for each Mortgaged Property or the Assignment of Leases for each Mortgaged Property for any indication that the related Mortgage and Assignment of Leases is not freely assignable without the consent of the related Mortgagor. If no such indication is found, it will be a Test pass.	Mortgage; Assignment of Leases
	5c	Review the title policy (as defined in representation and warranty 6, the “Title Policy”) for indication that each related Mortgage is a legal, valid and enforceable first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule, leasehold) interest in the Mortgaged Property in the principal amount of such Mortgage Loan or allocated loan amount (subject only to Permitted Encumbrances (as defined in representation and warranty 6) and the exceptions to paragraph (6) set forth on Annex D-2 (each such exception, a “Title Exception”)), except as the enforcement thereof may be limited by the Standard Qualifications. Compare the amount of the Title Policy to the principal amount of the Mortgage Loan or allocated loan amount to confirm they are equivalent. If such evidence is found, it will be a Test pass.	Title Policy; Mortgage Loan Schedule
	5d	
        Review the PSA Party Notices for notation that the Mortgaged Property
        (subject to and excepting Permitted Encumbrances and the Title Exceptions) as of origination, and as of the Cut-off Date, was not
        to the Mortgage Loan Seller’s knowledge, free and clear of any recorded mechanics’ liens, recorded materialmens liens
        or other recorded encumbrances which are prior to or equal with the lien of the related Mortgage, except those which are bonded
        over, escrowed for or insured against by a lender’s title insurance policy (as described in representation and warranty 6
        below). If no such notation is found, it will be a Test pass.

         

        This Test does not extend to the perfection of any security interest
        in rents or other personal property to the extent that
	PSA Party Notices

 

    Exhibit QQ-6

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	possession or control of such items or actions other than the filing of Uniform Commercial Code financing statements is required in order to effect such perfection.	 
	 	5e	
        Review the PSA Party Notices for notation that subject to (i) and
        (ii), the Mortgage Loan Seller had knowledge of existing rights which under law could give rise to any such lien or encumbrance
        that would be prior to or equal with the lien of the related Mortgage, except those which are bonded over, escrowed for or insured
        against by a lender’s title insurance policy (as described below). If no such notation is found, it will be a Test pass.

         

        This Test does not extend to the perfection of any security interest
        in rents or other personal property to the extent that possession or control of such items or actions other than the filing of
        Uniform Commercial Code financing statements is required in order to effect such perfection.
	PSA Party Notices
	 6.   Permitted Liens; Title Insurance.  Each Mortgaged Property securing a Mortgage Loan is covered by an American Land Title Association loan title insurance policy or a comparable form of loan title insurance policy approved for use in the applicable jurisdiction (or, if such policy is yet to be issued, by a pro forma policy, a preliminary title policy with escrow instructions or a “marked up” commitment, in each case binding on the title insurer) (the “Title Policy”) in the original principal amount of such Mortgage Loan (or with respect to a Mortgage Loan secured by multiple properties, an amount equal to at least the allocated loan amount with respect to the Title Policy for each such property) after all advances of principal (including any advances held in escrow or reserves), that insures for the benefit of the owner of the indebtedness secured by the Mortgage, the first priority lien of the Mortgage, which lien is subject only to (a) the lien of current real property taxes, water charges, sewer rents and assessments due and payable but not yet delinquent; (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record; (c) the exceptions (general and specific) and exclusions set forth in such Title Policy; (d) other matters to which like properties are commonly subject; (e) the rights of tenants (as tenants only) under leases (including subleases) pertaining to the related Mortgaged Property and condominium declarations; (f) if the related Mortgage Loan constitutes a cross-collateralized Mortgage 	6a	Review the Title Policy for an indication that it is an American Land Title Association loan title insurance policy or another comparable form of loan title insurance policy approved for use in the applicable jurisdiction, and that the amount of the policy covers the amount of the Mortgage Loan or, for multiple properties, an amount equal to the allocated loan amount after all advances of principal (including any advances held in escrow or reserves). If such indications exist, it will be a Test pass.	Title Policy; Mortgage Loan Documents
	6b	Review the Title Policy for an indication that it insures for the benefit of the owner of the indebtedness secured by the mortgage, and represents a first priority lien of the mortgage, which lien is subject only to clauses (a) through (g) of representation and warranty 6.  If such indications exist, it will be a Test pass.	Title Policy
	6c	Review the Title Policy for an indication that, except as contemplated by clauses (f) and (g) of representation and warranty 6, none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage.  If such an indication is found, it will be a Test pass.	Title Policy
	6d	Review the Title Policy for an indication that the Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no claims have been made by the Mortgage Loan Seller 	Title Policy

 

    Exhibit QQ-7

     

    

 

	 Representations and Warranties	          Test	Review Materials
	Loan, the lien of the Mortgage for another Mortgage Loan contained in the same cross-collateralized group; and (g) if the related Mortgage Loan is part of a Whole Loan, the rights of the holder(s) of any related Companion Loan(s) pursuant to the related Co-Lender Agreement; provided that none of items (a) through (g), individually or in the aggregate, materially and adversely interferes with the value or current use of the Mortgaged Property or the security intended to be provided by such Mortgage or the Mortgagor’s ability to pay its obligations when they become due (collectively, the “Permitted Encumbrances”).  Except as contemplated by clauses (f) and (g) of the preceding sentence, none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal with the lien of the related Mortgage.  Such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no claims have been made by the Mortgage Loan Seller thereunder and no claims have been paid thereunder.  Neither the Mortgage Loan Seller, nor to the Mortgage Loan Seller’s knowledge, any other holder of the Mortgage Loan, has done, by act or omission, anything that would materially impair the coverage under such Title Policy.	 	thereunder and no claims have been paid thereunder. If such indication is found, it will be a Test pass.	 
	6e	
        Review the PSA Party Notices for notation that either the Mortgage
        Loan Seller, or to the Mortgage Loan Seller’s knowledge, any other holder of the Mortgage Loan, has done, by act or omission,
        anything that would materially impair the coverage under such Title Policy. If no such notation is found, it will be a Test pass.

         

         

         

         

         

         

         

         

         

         

         
	PSA Party Notices
	
         7.   Junior Liens. It being
        understood that B notes secured by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, except
        for any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, there are no subordinate mortgages
        or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and
        the Title Exceptions, taxes and assessments, mechanics and materialmens liens (which are the subject of the representation in paragraph (5)
        above), and equipment and other personal property financing). Except as set forth on an exhibit to the applicable Mortgage Loan
        Purchase Agreement, the Mortgage Loan Seller has no knowledge of any mezzanine debt secured directly by interests in the related
        Mortgagor.

         
	7a	
        Review the Title Policy as of the Closing Date for an indication
        of subordinate mortgages or junior liens encumbering the Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions,
        taxes and assessments, mechanics and materialmens liens (which are the subject of representation and warranty 5), and equipment
        and other personal property financing). If no such indication is found, it will be a Test pass.

         
	Title Policy
	7b	Review the PSA Party Notices for notation that the Mortgage Loan Seller had knowledge of any mezzanine debt related to the Mortgaged Property and secured directly by the ownership interests in the related Mortgagor (except as set forth on an exhibit to the related Mortgage Loan Purchase Agreement). If no such notation is found, it will be a Test pass.	PSA Party Notices; Mortgage Loan Purchase Agreement
	 8.   Assignment of Leases and Rents.  There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage).  Subject to the Permitted Encumbrances and the Title Exceptions, each related	8a	Review the Mortgage File for an indication that an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage) exists. If such indication is found, it will be a Test pass.	Mortgage File; Assignment of Leases; Mortgage

 

    Exhibit QQ-8

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        Assignment of Leases creates a valid first-priority collateral
        assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases,
        subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the
        lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof
        may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law,
        provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of
        rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

         
	 	 	 
	8b	Review the Title Policy for an indication that, subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications.   If each is confirmed, it will be a Test pass.	Title Policy
	8c	Review the Mortgage Loan Documents for an indication that, subject to applicable law, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee. If such indication is found, it will be a Test pass.	Mortgage Loan Documents
	 9.   UCC Filings.  If the related Mortgaged Property is operated as a hospitality property, the Mortgage Loan Seller has filed and/or recorded or caused to be filed and/or recorded (or, if not filed and/or recorded, submitted in proper form for filing and/or recording), UCC financing statements in the appropriate public filing and/or recording offices necessary at the time of the origination of the Mortgage Loan to perfect a valid security interest in all items of physical personal property reasonably necessary to operate such Mortgaged Property owned by such Mortgagor and located on the related Mortgaged Property (other than any non-material personal property, any personal property subject to a purchase money security interest, a sale and leaseback financing arrangement as permitted under the terms of the related Mortgage Loan Documents or any other personal property leases applicable to such personal property), to the extent perfection may be effected pursuant to applicable law by recording or filing, as the case may be.  Subject to the Standard Qualifications, each related Mortgage (or equivalent document) creates a valid and enforceable lien and security interest on the items of personalty described above.  	9a	
        Review the appraisal to determine if the Mortgaged Property is a
        hospitality property. If so, review the PSA Party Notices for notation that the Mortgage Loan Seller has not filed and/or recorded,
        or caused to be filed and/or recorded (or, if not filed and/or recorded, submitted in proper form for filing and/or recording),
        UCC financing statements in the appropriate public filing and/or recording offices necessary at the time of the origination of
        the Mortgage Loan to perfect a valid security interest in all items of physical personal property reasonably necessary to operate
        such Mortgaged Property owned by such Mortgagor and located on the related Mortgaged Property. If no such notation is found, it
        will be a Test pass.

         
	PSA Party Notices; Appraisal

 

    Exhibit QQ-9

     

    

 

	 Representations and Warranties	          Test	Review Materials
	No representation is made as to the perfection of any security interest in rents or other personal property to the extent that possession or control of such items or actions other than the filing of UCC financing statements are required in order to effect such perfection.	9b	Review the Mortgage for an indication that, subject to the Standard Qualifications, each related Mortgage (or equivalent document) creates a valid and enforceable lien and security interest on the items of personalty described in representation and warranty 9.  If such indication is found, it will be a Test pass.	Mortgage
	
         10. Condition of Property.
        The Mortgage Loan Seller or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property
        within six months of origination of the Mortgage Loan and within thirteen months of the Cut-off Date.

         

        An engineering report or property condition assessment
        was prepared in connection with the origination of each Mortgage Loan no more than thirteen months prior to the Cut-off Date. To
        the Mortgage Loan Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination
        of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of any material damage
        (other than deferred maintenance for which escrows were established at origination) that would affect materially and adversely
        the use or value of such Mortgaged Property as security for the Mortgage Loan.
	10a	Review the property inspection report in the Mortgage File for an indication that it is dated within six months of the origination date, and within 13 months of the Cut-off Date. If such indication is found, it will be a Test pass.	Property Inspection Report
	10b	Review the engineering report or property condition assessment in the Mortgage File for an indication that it was dated no more than 13 months prior to the Cut-off Date. If such indication is found, it will be a Test pass.	Engineering Report; Property Condition Assessment
	10c	Review the PSA Party Notices for a notation that, to the Mortgage Loan Seller’s knowledge, based solely upon due diligence customarily performed in connection with the origination of comparable mortgage loans, as of the Closing Date, a related Mortgaged Property was not free and clear of any material damage (other than deferred maintenance for which escrows were established at origination) that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 11.  Taxes and Assessments.  All taxes, governmental assessments and other outstanding governmental charges (including, without limitation, water and sewage charges), or installments thereof, which could be a lien on the related Mortgaged Property that would be of equal or superior priority to the lien of the Mortgage and that prior to the Cut-off Date have become delinquent in respect of each related Mortgaged Property have been paid, or an escrow of funds has been established in an amount sufficient to cover such payments and reasonably estimated interest and penalties, if any, thereon.  For purposes of this representation and warranty, real estate taxes and governmental assessments and other outstanding governmental charges and installments thereof shall not be considered delinquent until the earlier of (a) the date on which interest and/or penalties would first be payable thereon and (b) the date on which enforcement action is entitled to be taken by the related taxing authority.	11	
        Review the PSA Party Notices for notation that any taxes,
governmental assessments and other outstanding governmental charges (including, without limitation, water and sewage charges),
or installments thereof which could be a lien on the related Mortgaged Property that would be of equal or superior priority to
the lien of the Mortgage and that prior to the Cut-off Date have become delinquent in respect of each related Mortgaged Property
have not been paid, or an escrow of funds has not been established in an amount sufficient to cover such payments and reasonably
estimated interest and penalties, if any, thereon or that the date on which enforcement action is entitled to be taken by the
related taxing authority has not passed. If such no such notation is found, it will be a Test pass.  

         
	PSA Party Notices

 

    Exhibit QQ-10

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	 	 
	
         12. Condemnation. As
        of the date of origination and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, there is no proceeding pending,
        and, to the Mortgage Loan Seller’s knowledge as of the date of origination and as of the Cut-off Date, there is no proceeding
        threatened, for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the value,
        use or operation of the Mortgaged Property.

         
	12	Review the PSA Party Notices for notation of any proceeding pending or threatened for the total or partial condemnation of such Mortgaged Property as of the origination date that would have a material adverse effect on the value, use or operation of the Mortgaged Property, or for evidence that the Mortgage Loan Seller had knowledge as of the Cut-off Date of any such proceeding. If no such notation  is found, it will be a Test pass.	PSA Party Notices
	 13. Actions Concerning Mortgage Loan.  As of the date of origination and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, there was no pending or filed action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor, guarantor, or Mortgagor’s interest in the Mortgaged Property, an adverse outcome of which would reasonably be expected to materially and adversely affect (a) such Mortgagor’s title to the Mortgaged Property, (b) the validity or enforceability of the Mortgage, (c) such Mortgagor’s ability to perform under the related Mortgage Loan, (d) such guarantor’s ability to perform under the related guaranty, (e) the principal benefit of the security intended to be provided by the Mortgage Loan Documents or (f) the current principal use of the Mortgaged Property.	13a	
        Review the Mortgagor’s Counsel Opinion and PSA Party Notices
        for an indication of pending or filed action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor,
        guarantor, or Mortgagor’s interest in the Mortgaged Property that existed on the origination date, and review the PSA Party
        Notices for notation that the Mortgage Loan Seller’s had knowledge of same as of the Closing Date. If such indication or
        notation is not found, it will be a Test pass.

         
	Mortgagor’s  Counsel Opinion; PSA Party Notices
	13b	Review the PSA Party Notices for notation of adverse outcome of any such  pending, filed or threatened action, suit or proceeding, arbitration or governmental investigation involving any Mortgagor, guarantor, or Mortgaged Property would adversely affect the matters set forth in clauses (a)-(f) of representation and warranty 13. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 14. Escrow Deposits.  All escrow deposits and payments required to be escrowed with Mortgagee pursuant to each Mortgage Loan are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no deficiencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required to be escrowed with Mortgagee under the related Mortgage Loan Documents are being conveyed by the Mortgage Loan Seller to Depositor or its servicer.	14a	Review the PSA Party Notices for an indication of any escrow deposits and payments required pursuant to the Mortgage Loan not in the Mortgage Loan Seller or its servicer’s possession or control. If no such notation is found, it will be a Test pass.	PSA Party Notices
	14b	Review the PSA Party Notices for notation of any deficiencies (subject to any applicable grace or cure periods) in connection therewith, or that such escrows and deposits (or the right thereto) that are required to be escrowed with the Mortgagee under the related Mortgage Loan Documents have not been conveyed by the Mortgage Loan Seller to Depositor or its servicer. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 15. No Holdbacks.  The principal amount of the Mortgage Loan stated on the Mortgage Loan Schedule has been fully disbursed as of the Closing Date and there is no requirement for future advances 	15a	Review the Mortgage Loan Documents and closing settlement statement for an indication that the principal amount of the Mortgage Loan was fully disbursed as of the Closing Date. If 	Mortgage Loan Documents; closing settlement statement

 

    Exhibit QQ-11

     

    

 

	 Representations and Warranties	          Test	Review Materials
	thereunder (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs or other matters with respect to the related Mortgaged Property, the Mortgagor or other considerations determined by the Mortgage Loan Seller to merit such holdback).	 	such an indication if found, it will be a Test pass.	 
	15b	Review the Mortgage Loan Documents for an indication that there is a requirement for future advances by the lender (except in those cases where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts pending the satisfaction of certain conditions relating to leasing, repairs or other matters with respect to the related Mortgaged Property, the Mortgagor or other considerations determined by the Mortgage Loan Seller to merit such holdback). If no such indication is found, it will be a Test pass.  	Mortgage Loan Documents 
	
         16. Insurance. Each related
        Mortgaged Property is, and is required pursuant to the related Mortgage to be, insured by a property insurance policy providing
        coverage for loss in accordance with coverage found under a “special cause of loss form” or “all risk form”
        that includes replacement cost valuation issued by an insurer meeting the requirements of the related Mortgage Loan Documents and
        having a claims-paying or financial strength rating of at least “A-:VIII” from A.M. Best Company or “A3”
        (or the equivalent) from Moody’s Investors Service, Inc. or “A-” from Standard & Poor’s Ratings Services
        (collectively the “Insurance Rating Requirements”), in an amount (subject to a customary deductible) not less
        than the lesser of (1) the original principal balance of the Mortgage Loan and (2) the full insurable value on a replacement
        cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the Mortgagor and included in the Mortgaged
        Property (with no deduction for physical depreciation), but, in any event, not less than the amount necessary or containing such
        endorsements as are necessary to avoid the operation of any coinsurance provisions with respect to the related Mortgaged Property.

         

        Each related Mortgaged Property is also covered, and
        required to be covered pursuant to the related Mortgage Loan Documents, by business interruption or rental loss insurance which
        (subject to a customary deductible) covers a period of not less than 12 months (or with respect to each Mortgage Loan on a
        single asset with a principal balance of $50 million or more, 18 months).

         

        If any material part of the improvements, exclusive of
        a parking lot,

         
	16a	Review the insurance coverage review document for an indication that the Mortgaged Property is insured by a property insurance policy providing coverage for loss in accordance with coverage found under a “special cause of loss form” or “all-risk form” that includes replacement cost valuation issued by an insurer meeting the requirements of the Mortgage Loan Documents and Insurance Rating Requirements described in representation and warranty 16, in an amount not less than the lesser of (1) the original principal balance of any Mortgage Loan and (2) the full insurable value on a replacement cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the mortgagor and included in the Mortgaged Property (with no deduction for physical depreciation), but, in any event, not less than the amount necessary or containing such endorsements as are necessary to avoid the operation of any coinsurance provisions with respect to the  Mortgaged Property. If such indication is found, it will be a Test pass.	Insurance Coverage Review Document
	16b	
        Review the Mortgage Loan Documents for provisions requiring
the insurance coverage as stated in Test 16a above. If such provisions are found, it will be a Test pass. 

         

         
	Mortgage Loan Documents
	16c	Review the Mortgage Loan Documents for provisions requiring business interruption or rental loss insurance that covers a period of not less than 12 months (or with respect to a Mortgage Loan with a principal balance of $50 million or more, 18 months).  If 	Mortgage Loan Documents

 

    Exhibit QQ-12

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        located on a Mortgaged Property is in an area identified
        in the Federal Register by the Federal Emergency Management Agency as a “Special Flood Hazard Area,” the related Mortgagor
        is required to maintain insurance in the maximum amount available under the National Flood Insurance Program.

         

        If the Mortgaged Property is located within 25 miles
        of the coast of the Gulf of Mexico or the Atlantic coast of Florida, Georgia, South Carolina or North Carolina, the related Mortgagor
        is required to maintain coverage for windstorm and/or windstorm related perils and/or “named storms” issued by an insurer
        meeting the Insurance Rating Requirements or endorsement covering damage from windstorm and/or windstorm related perils and/or
        named storms.

         

        The Mortgaged Property is covered, and required to be
        covered pursuant to the related Mortgage Loan Documents, by a commercial general liability insurance policy issued by an insurer
        meeting the Insurance Rating Requirements including coverage for property damage, contractual damage and personal injury (including
        bodily injury and death) in amounts as are generally required by prudent institutional commercial mortgage lenders, and in any
        event not less than $1 million per occurrence and $2 million in the aggregate.

         

        An architectural or engineering consultant has performed
        an analysis of each of the Mortgaged Properties located in seismic zones 3 or 4 in order to evaluate the structural and seismic
        condition of such property, for the sole purpose of assessing the scenario expected limit (“SEL”) for the Mortgaged
        Property in the event of an earthquake. In such instance, the SEL was based on a 475-year return period, an exposure period of
        50 years and a 10% probability of exceedance. If the resulting report concluded that the SEL would exceed 20% of the amount of
        the replacement costs of the improvements, earthquake insurance on such Mortgaged Property was obtained from an insurer rated at
        least “A:VIII” by A.M. Best Company or “A3” (or the equivalent) from Moody’s Investors Service, Inc.
        or “A-” by Standard & Poor’s Ratings Services in an amount not less than 100% of the SEL.
	 	such provisions are found, it will be a Test pass.

                                                                                 
	 
	16d	
        Review the Mortgage Loan Documents for provisions requiring that
        if any material part of the improvements, exclusive of a parking lot, located on a Mortgaged Property is in an area identified
        in the Federal Register by the Federal Emergency Management Agency as a “Special Flood Hazard Area,” the related Mortgagor
        is required to maintain insurance in the maximum amount available under the National Flood Insurance Program. If such provisions
        are found, it will be a Test pass.

         
	Mortgage Loan Documents
	16e	
        Review the Mortgage Loan Documents for provisions requiring
that if the Mortgaged Property is located within 25 miles of the coast of the Gulf of Mexico or the Atlantic coast of Florida,
Georgia, South Carolina or North Carolina, the related Mortgagor is required to maintain coverage for windstorm and/or windstorm
related perils and/or “named storms” issued by an insurer meeting the Insurance Rating Requirements or endorsement
covering damage from windstorm and/or windstorm related perils and/or named storms. If such provisions are found, it will be a
Test pass. 

         
	Insurance Coverage Review Document; 
	16f	
        Review the insurance coverage review document for an indication
that the Mortgaged Property is covered by a commercial general liability insurance policy issued by an insurer meeting the Insurance
Rating Requirements, including coverage for property damage, contractual damage and personal injury (including bodily injury and
death) in amounts as are generally required by prudent institutional commercial mortgage lenders, and in any event not less than
$1 million per occurrence and $2 million in the aggregate. If such indication is found, it will be a Test pass. 

         
	Insurance Coverage Review Document
	16g	
        Review the Mortgage Loan Documents for provisions requiring the
        insurance coverage as stated in test 16f above. If such provisions are found, it will be a Test pass.

         
	Mortgage Loan Documents

 

    Exhibit QQ-13

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        The Mortgage Loan Documents require insurance proceeds
        in respect of a property loss to be applied either (a) to the repair or restoration of all or part of the related Mortgaged
        Property, with respect to all property losses in excess of 5% of the then outstanding principal amount of the related Mortgage
        Loan (or related Whole Loan), the Mortgagee (or a trustee appointed by it) having the right to hold and disburse such proceeds
        as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance of such Mortgage Loan
        together with any accrued interest thereon.

         

        All premiums on all insurance policies referred to in
        this section required to be paid as of the Cut-off Date have been paid, and such insurance policies name the Mortgagee under the
        Mortgage Loan and its successors and assigns as a loss payee under a Mortgagee endorsement clause or, in the case of the general
        liability insurance policy, as named or additional insured. Such insurance policies will inure to the benefit of the Trustee. Each
        related Mortgage Loan obligates the related Mortgagor to maintain all such insurance and, at such Mortgagor’s failure to
        do so, authorizes the Mortgagee to maintain such insurance at the Mortgagor’s reasonable cost and expense and to charge such
        Mortgagor for related premiums. All such insurance policies (other than commercial liability policies) require at least 10 days’
        prior notice to the Mortgagee of termination or cancellation arising because of nonpayment of a premium and at least 30 days’
        prior notice to the Mortgagee of termination or cancellation (or such lesser period, not less than 10 days, as may be required
        by applicable law) arising for any reason other than non-payment of a premium and no such notice has been received by the Mortgage
        Loan Seller.
	16h	
        Review the Mortgage File for an architectural or engineering
analysis of each of the Mortgaged Properties located in seismic zones 3 or 4 in order to evaluate the structural and seismic condition
of such property, for the sole purpose of assessing the scenario expected limit (“SEL”) for the Mortgaged Property
in the event of an earthquake. In such instance, the SEL was based on a 475-year return period, an exposure period of 50 years
and a 10% probability of exceedance. If such a report is found, it will be a Test pass. 

         
	Architectural or Engineering Analysis 
	16i	
        If the resulting report referenced in Test 16h concluded
that the SEL would exceed 20% of the amount of the replacement costs of the improvements, review the insurance coverage review
document for an indication that earthquake insurance on such Mortgaged Property was obtained from an insurer rated at least “A:VIII”
by A.M. Best Company or “A3” (or the equivalent) from Moody’s Investors Service, Inc. or “A-” by
Standard & Poor’s Ratings Services in an amount not less than 100% of the SEL. Review the insurance coverage review
document for provisions requiring that insurance proceeds in respect of a property loss be applied either (a) to the repair or
restoration of all or part of the related Mortgaged Property, with respect to all property losses in excess of 5% of the then-outstanding
principal amount of the Mortgage Loan, the lender (or a trustee appointed by it) having the right to hold and disburse such proceeds
as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance of such Mortgage Loan together
with any accrued interest thereon. If such indication is found, it will be a Test pass. 

         
	Insurance Coverage Review Document
	16j	Review the Mortgage Loan Documents for provisions that  require insurance proceeds in respect of a property loss to be applied either (a) to the repair or restoration of all or part of the related Mortgaged Property, with respect to all property losses in 	Mortgage Loan Documents

 

    Exhibit QQ-14

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	excess of 5% of the then outstanding principal amount of the related Mortgage Loan (or related Whole Loan), the Mortgagee (or a trustee appointed by it) having the right to hold and disburse such proceeds as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance of such Mortgage Loan together with any accrued interest thereon.  If such provisions are found, it will be a Test pass.	 
	16k	Review the insurance coverage review document for an indication that all premiums on all insurance policies referred to in this section required to be paid as of the Cut-off Date have been paid, and such insurance policies name the Mortgagee under the Mortgage Loan and its successors and assigns as a loss payee under a mortgagee endorsement clause or, in the case of the general liability insurance policy, as named or additional insured. If such evidence is found, it will be a Test pass.	Insurance Coverage Review Document
	16l	Review the insurance coverage review document for an indication that the insurance will inure to the benefit of the trustee. If such indication is found, it will be a Test pass.	Insurance Coverage Review Document
	16m	Review the Mortgage Loan Documents for an indication that any Mortgage Loan obligates the Mortgagor to maintain all such insurance and, at such Mortgagor’s failure to do so, authorizes the lender to maintain such insurance at the Mortgagor’s cost and expense and to charge such Mortgagor for related premiums. If such indication is found, it will be a Test pass.	Mortgage Loan Documents
	16n	
        Review the insurance coverage review document for an indication
        that the insurance policies (other than commercial liability policies) require at least 10 days’ prior notice to the lender
        of termination or cancellation arising because of nonpayment of a premium and at least 30 days’ prior notice to the lender
        of termination or cancellation (or such lesser period, not less than 10 days, as may be required by applicable law) arising for
        any reason other than non-payment of a premium. If such indication is found, it will be a Test pass.

         
	Insurance Coverage Review Document
	16o	Review the PSA Party Notices for notation that any notice described in Test 16n may have been received by the Mortgage Loan Seller. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 17. Access; Utilities; Separate Tax Lots.  Each Mortgaged Property (a) is located on or adjacent to a public road and has direct legal access to 	17a	Review the zoning report for an indication that each Mortgaged Property is located on or adjacent to a public road and has direct 	Zoning Report

 

    Exhibit QQ-15

     

    

 

	 Representations and Warranties	          Test	Review Materials
	such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property, and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application has been, or will be, made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created.	 	legal access to such road, or has access via an irrevocable easement or irrevocable right of way permitting ingress and egress to/from a public road. If such indication is found, it will be a Test pass.	 
	17b	Review the zoning report for an indication that each Mortgaged Property is served by or has uninhibited access rights to public or private water and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property.  If such indication is found, it will be a Test pass.	Zoning Report
	17c	Review the Title Policy for an indication that each Mortgaged Property constitutes one or more separate tax parcels and does not include any property which is not part of the Mortgaged Property or is subject to an endorsement under the most recently dated  Title Policy insuring the Mortgaged Property, or in certain cases, an application has been made to the applicable governing authority for creation of separate tax lots, in which case any Mortgage Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property is a part until the separate tax lots are created. If such indication is found, it will be a Test pass.	Title Policy
	 18. No Encroachments.  To the Mortgage Loan Seller’s knowledge based solely on surveys obtained in connection with origination and the Mortgagee’s Title Policy (or, if such policy is not yet issued, a pro forma title policy, a preliminary title policy with escrow instructions or a “marked up” commitment) obtained in connection with the origination of each Mortgage Loan, all material improvements that were included for the purpose of determining the appraised value of the related Mortgaged Property at the time of the origination of such Mortgage Loan are within the boundaries of the related Mortgaged Property, except encroachments that do not materially and adversely affect the value or current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title Policy.  No improvements on adjoining parcels encroach onto the related Mortgaged Property except for encroachments that do not materially and adversely affect the value or current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title Policy.  No improvements encroach upon 	18a	
        Review the survey and Title Policy for an indication that
all material improvements that were included for the purpose of determining the appraised value of the Mortgaged Property at the
time of the origination of such Mortgage Loan are within the boundaries of the related Mortgaged Property, except encroachments
that do not materially and adversely affect the value or current use of such Mortgaged Property, or are insured by applicable
provisions of the most recently dated Title Policy. If such an indication is found, it will be a Test pass. 

         
	Survey; Title Policy; Appraisal
	18b	
        Review the survey and Title Policy for an indication that there
        exist improvements on adjoining parcels that encroach onto the Mortgaged Property that could materially and adversely affect the
        value or current use of such Mortgaged Property, which are not insured by applicable provisions of the most recently dated Title
        Policy. If no such indication is found, it will be a Test pass.

         
	Survey; Title Policy

 

    Exhibit QQ-16

     

    

 

	 Representations and Warranties	          Test	Review Materials
	any easements except for encroachments the removal of which would not materially and adversely affect the value or current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title Policy.	 	 	 
	18c	Review the survey or Title Policy for an indication that there exist improvements that encroach upon any easements and the removal of such encroachments could materially and adversely affect the value or current use of such Mortgaged Property and are not insured by applicable provisions of the most recently dated Title Policy. If no such indication is found, it will be a Test pass. 	Survey; Title Policy
	 19. No Contingent Interest or Equity Participation.  No Mortgage Loan has a shared appreciation feature, any other contingent interest feature or a negative amortization feature or an equity participation by the Mortgage Loan Seller. 	19	
        Review the PSA Party Notices for notation of shared appreciation
        or any other contingent interest provisions. Review the Mortgage Loan Documents for an indication of any negative amortization
        feature, or an equity participation provision. If no such notation or indication is found, it will be a Test pass.

         
	PSA Party Notices; Mortgage Loan Documents 
	
         20. REMIC. The Mortgage
        Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard
        to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages),
        and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent
        principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is secured by an interest in real property
        (including buildings and structural components thereof, but excluding personal property) having a fair market value (i) at
        the date the Mortgage Loan (or related Whole Loan) was originated at least equal to 80% of the adjusted issue price of the Mortgage
        Loan (or related Whole Loan) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of
        the Mortgage Loan (or related Whole Loan) on such date, provided that for purposes hereof, the fair market value of the
        real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to
        the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially
        all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security
        for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Treasury Regulations
        Section 1.860G-2(a)(1)(ii)). If the Mortgage Loan was “significantly modified” prior to the Closing Date so as
        to result in a taxable exchange under

         
	20a	Review the origination settlement statement and Mortgage Note for an indication that the proceeds advanced by the lender did not exceed the stated principal amount of the Mortgage Note. If such an indication is found, it will be a Test pass.	Settlement Statement; Mortgage Note
	20b	Review the most recent appraisal and Mortgage Loan Documents for an indication that either (a) the Mortgage Loan or Whole Loan is secured by an interest in real property (including buildings and structural components thereof, but excluding personal property) having a fair market value (i) at the date such Mortgage Loan or Whole Loan was originated at least equal to 80% of the initial principal amount of any Mortgage Loan or Whole Loan on such date or (ii) at the Closing Date at least equal to 80% of the outstanding principal amount of the  Mortgage Loan or Whole Loan on such date, provided that for purposes of clauses (i) and (ii) above, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to such Mortgage Loan and (B) a proportionate amount of any lien that is in parity with such Mortgage Loan, or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)).  If such an indication is found, it will be a Test pass.	Appraisal; Mortgage Loan Documents;

 

    Exhibit QQ-17

     

    

 

	 Representations and Warranties	          Test	Review Materials
	Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto.  Any prepayment premium and yield maintenance charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Treasury Regulations Section 1.860G-1(b)(2).  All terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.	20c	Review the PSA Party Notices for a notation that the Mortgage Loan was modified prior to the Closing Date, and if so, if the modification was made as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) in the first sentence of representation and warranty 22 (substituting the date of the last such modification for the date any Mortgage Loan was originated) or sub clause (B)(a)(ii) in the first sentence of representation and warranty 22, including the proviso thereto. If there were any such modifications, and they satisfy the above conditions, it will be a Test pass.	PSA Party Notices
	20d	Review the PSA Party Notices for notation of any claim or assertion to the effect that the prepayment premium and yield maintenance charges applicable to any Mortgage Loan do not constitute “customary prepayment penalties”. If no such notation is found, it will be a Test pass.	PSA Party Notices
	
         21. Compliance with Usury
        Laws. The Mortgage Rate (exclusive of any default interest, late charges, yield maintenance charge, or prepayment premiums)
        of such Mortgage Loan complied as of the date of origination with, or was exempt from, applicable state or federal laws, regulations
        and other requirements pertaining to usury.

         
	21	
        Review the PSA Party Notices for notation of any claim or assertion
        to the effect that the Mortgage Rate (exclusive of any default interest, late charges, yield maintenance charge, or prepayment
        premiums) of such Mortgage Loan did not comply as of the date of origination with, or was not exempt from, applicable state or
        federal laws, regulations and other requirements pertaining to usury. If no such notation is found, it will be a Test pass.

         

         
	PSA Party Notices
	 22. Authorized to do Business.  To the extent required under applicable law, as of the Cut-off Date or as of the date that such entity held the Mortgage Note, each holder of the Mortgage Note was authorized to originate, acquire and/or hold (as applicable) the Mortgage Note in the jurisdiction in which each related Mortgaged Property is located, or the failure to be so authorized does not materially and adversely affect the enforceability of such Mortgage Loan by the Trust.	22	Review the PSA Party Notices for notation that as of the Cut-off Date, or as of the date that such entity held the Mortgage Note, any holder of the Mortgage Note was not authorized to originate, acquire and/or hold (as applicable) the Mortgage Note in the jurisdiction in which each related Mortgaged Property is located, or the failure to be so authorized materially and adversely affects the enforceability of such Mortgage Loan by the Trust. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 23.
    Trustee under Deed of Trust.  With respect to each Mortgage which is a deed of trust, as of the date of
    origination and, to the Mortgage Loan Seller’s knowledge, as of the Closing Date, a trustee, duly qualified under
    applicable law to serve as such, currently so serves 	23a	Review the Mortgage Loan Documents for an indication that as of the date of origination, a trustee, duly qualified under applicable law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with the 	Mortgage Loan Documents

 

    Exhibit QQ-18

     

    

 

	 Representations and Warranties	          Test	Review Materials
	and is named in the deed of trust or has been substituted in accordance with the Mortgage and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related Mortgagee.	 	Mortgage and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related Mortgagee. If such an indication is found, it will be a Test pass.	 
	23b	Review the PSA Party Notices for notation that, to the Mortgage Loan Seller’s knowledge, as of the Closing Date, no trustee, duly qualified under applicable law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with the Mortgage and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related Mortgagee.   If no such notation is found, it will be a Test pass.	PSA Party Notices
	 24. Local Law Compliance.  To the Mortgage Loan Seller’s knowledge, based upon any of a letter from any governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the related Title Policy, or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization, there are no material violations of applicable zoning ordinances, building codes and land laws (collectively “Zoning Regulations”) with respect to the improvements located on or forming part of each Mortgaged Property securing a Mortgage Loan as of the date of origination of such Mortgage Loan (or related Whole Loan, as applicable) and as of the Cut-off Date, other than those which (i) are insured by the Title Policy or a law and ordinance insurance policy or (ii) would not have a material adverse effect on the value, operation or net operating income of the Mortgaged Property.  The terms of the Mortgage Loan Documents require the Mortgagor to comply in all material respects with all applicable governmental regulations, zoning and building laws.	24a	
        Review the zoning report and title policy for an indication that
        there are no material violations of applicable zoning ordinances, building codes and land laws (collectively “Zoning Regulations”)
        with respect to the improvements located on or forming part of each Mortgaged Property securing a Mortgage Loan as of the date
        of origination of such Mortgage Loan (or related Whole Loan, as applicable) or as of the Cut-off Date, other than those which (i)
        are insured by the Title Policy or a law and ordinance insurance policy or (ii) would not have a material adverse effect on the
        value, operation or net operating income of the Mortgaged Property. If such indication is found, it will be a Test pass.

         
	Zoning Report; Title Policy
	24b	
        Review the Mortgage Loan Documents for provisions that require the
        Mortgagor to comply in all material respects with all applicable governmental regulations, zoning and building laws. If such provisions
        are found, it will be a Test pass.

         
	 Mortgage Loan Documents
	 25. Licenses and Permits.  Each Mortgagor covenants in the Mortgage Loan Documents that it shall keep all material licenses, permits and applicable governmental authorizations necessary for its operation of the Mortgaged Property in full force and effect, and to the Mortgage Loan Seller’s knowledge based upon any of a letter from any government authorities or other affirmative investigation of local law compliance consistent with the investigation conducted by the Mortgage Loan Seller for similar commercial and multifamily mortgage loans intended for securitization, all such material licenses, 	25a	Review the Mortgage Loan Documents for an indication that each Mortgagor has covenanted to keep all material licenses, permits and applicable governmental authorizations necessary for its operation of the Mortgaged Property in full force and effect. If such an indication is found, it will be a Test pass.	Mortgage Loan Documents
	25b	Review the PSA Party Notices for notation that, to the Mortgage Loan Seller’s knowledge, any material licenses, permits and applicable governmental authorizations are not in effect. If no such notation is found, it will be a Test pass.	PSA Party Notices

 

    Exhibit QQ-19

     

    

 

	 Representations and Warranties	          Test	Review Materials
	permits and applicable governmental authorizations are in effect.  The Mortgage Loan requires the related Mortgagor to be qualified to do business in the jurisdiction in which the related Mortgaged Property is located.	25c	Review the Mortgage Loan Documents for provisions requiring the Mortgagor to be qualified to do business in the jurisdiction in which the Mortgaged Property is located. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	 26. Recourse Obligations.  The Mortgage Loan Documents for each Mortgage Loan provide that such Mortgage Loan (a) becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity distinct from the Mortgagor (but may be affiliated with the Mortgagor) that has assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events:  (i) if any voluntary petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by the Mortgagor; (ii) the Mortgagor or guarantor shall have colluded with (or, alternatively, solicited or caused to be solicited) other creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or equity interests in Mortgagor made in violation of the Mortgage Loan Documents; and (b) contains provisions providing for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity distinct from the Mortgagor (but may be affiliated with the Mortgagor) that has assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages sustained by reason of Mortgagor’s (i) misappropriation of rents after the occurrence of an event of default under the Mortgage Loan; (ii) misappropriation of (A) insurance proceeds or condemnation awards or (B) security deposits or, alternatively, the failure of any security deposits to be delivered to Mortgagee upon foreclosure or action in lieu thereof (except to the extent applied in accordance with leases prior to a Mortgage Loan event of default); (iii) fraud or intentional material misrepresentation; (iv) breaches of the environmental covenants in the Mortgage Loan Documents; or (v) commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).	26a	Review the Mortgage Loan Documents for provisions permitting full recourse to the Mortgagor and guarantor in connection with the events or circumstances set forth in clauses (a)(i) through (a)(iii) of representation and warranty 26. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	26b	Review the Mortgage Loan Documents for provisions permitting recourse against the Mortgagor and guarantor in connection with the events or circumstances set forth in clauses (b)(i) through (b)(v) of representation and warranty 26. If such provisions are found, it will be a Test pass.

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 
	Mortgage Loan Documents
	 27. Mortgage Releases.  The terms of the related Mortgage or related Mortgage Loan Documents do not provide for release of any material portion of the Mortgaged Property from the lien of the Mortgage 	27a	Review the Mortgage Loan Documents for provisions stating that the only conditions under which a property may be released during the life of the Mortgage Loan are as set forth in clauses (a) 	Mortgage Loan Documents

 

    Exhibit QQ-20

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        except (a) a partial release, accompanied by principal
        repayment, of not less than a specified percentage at least equal to the lesser of (i) 110% of the related allocated loan
        amount of such portion of the Mortgaged Property and (ii) the outstanding principal balance of the Mortgage Loan, (b) upon
        payment in full of such Mortgage Loan, (c) upon a Defeasance defined in (32) below, (d) releases of out-parcels that
        are unimproved or other portions of the Mortgaged Property which will not have a material adverse effect on the underwritten value
        of the Mortgaged Property and which were not afforded any material value in the appraisal obtained at the origination of the Mortgage
        Loan and are not necessary for physical access to the Mortgaged Property or compliance with zoning requirements, or (e) as
        required pursuant to an order of condemnation or taking by a State or any political subdivision or authority thereof. With respect
        to any partial release under the preceding clauses (a) or (d), either: (x) such release of collateral (i) would
        not constitute a “significant modification” of the subject Mortgage Loan within the meaning of Treasury Regulations
        Section 1.860G-2(b)(2) and (ii) would not cause the subject Mortgage Loan to fail to be a “qualified mortgage”
        within the meaning of Section 860G(a)(3)(A) of the Code; or (y) the Mortgagee or servicer can, in accordance with the
        related Mortgage Loan Documents, condition such release of collateral on the related Mortgagor’s delivery of an opinion of
        tax counsel to the effect specified in the immediately preceding clause (x). For purposes of the preceding clause (x),
        for all Mortgage Loans originated after December 6, 2010, if the fair market value of the real property constituting such
        Mortgaged Property after the release is not equal to at least 80% of the principal balance of the Mortgage Loan (or related Whole
        Loan) outstanding after the release, the Mortgagor is required to make a payment of principal in an amount not less than the amount
        required by the REMIC Provisions of the Code.

         

        With respect to any partial release under the preceding
        clause (e), for all Mortgage Loans originated after December 6, 2010, the Mortgagor can be required to pay down
        the principal balance of the Mortgage Loan in an amount not less than the amount required by the REMIC Provisions of the Code and,
        to such extent, such amount may not be required to be applied to the restoration of the Mortgaged Property or
	 	through (e) of the first sentence of representation and warranty 27. If such provisions are found, it will be a Test pass.   	 
	27b	Review the Mortgage Loan Documents for provisions stating that with respect to any partial release described in clauses (a) or (d) of the first sentence of representation and warranty 27 either: (x) such release of collateral (i) would not constitute a “significant modification” of the subject Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b)(2) and (ii) would not cause the subject Mortgage Loan to fail to be a “qualified mortgage” within the meaning of Section 860G(a)(3)(A) of the Code; or (y) the Mortgagee or servicer can, in accordance with the related Mortgage Loan Documents, condition such release of collateral on the related Mortgagor’s delivery of an opinion of tax counsel to the effect specified in the immediately preceding clause (x).  For purposes of the preceding clause (x), for all Mortgage Loans originated after December 6, 2010, if the fair market value of the real property constituting such Mortgaged Property after the release is not equal to at least 80% of the principal balance of the Mortgage Loan outstanding after the release, the Mortgagor is required to make a payment of principal in an amount not less than the amount required by the REMIC Provisions of the Code. If such provisions are found, it will be a Test pass.   	Mortgage Loan Documents
	27c	Review the Mortgage Loan Documents for provisions stating that with respect to any partial release described in clauses (e) of the first sentence of representation and warranty 27, for all Mortgage Loans originated after December 6, 2010, the Mortgagor can be required to pay down the principal balance of the Mortgage Loan in an amount not less than the amount required by the REMIC Provisions of the Code and, to such extent, such amount may not be required to be applied to the restoration of the Mortgaged Property or released to the Mortgagor, if, immediately after the release of such portion of the Mortgaged Property from the lien of the Mortgage (but taking into account the planned restoration) the fair market value of the real property constituting the remaining Mortgaged Property is not equal to at least 80% of the remaining principal balance of the Mortgage Loan (or related Whole Loan). If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	27d	Review the Mortgage Loan Documents for provisions stating 	Mortgage Loan 

 

    Exhibit QQ-21

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        released to the Mortgagor, if, immediately after the
        release of such portion of the Mortgaged Property from the lien of the Mortgage (but taking into account the planned restoration)
        the fair market value of the real property constituting the remaining Mortgaged Property is not equal to at least 80% of the remaining
        principal balance of the Mortgage Loan (or related Whole Loan).

         

        No Mortgage Loan that is secured by more than one Mortgaged
        Property or that is cross-collateralized with another Mortgage Loan permits the release of cross-collateralization of the related
        Mortgaged Properties or a portion thereof, including due to partial condemnation, other than in compliance with the REMIC Provisions
        of the Code.
	 	that, no Mortgage Loan that is secured by more than one Mortgaged Property or that is cross-collateralized with another Mortgage Loan permits the release of cross-collateralization of the related Mortgaged Properties or a portion thereof, including due to partial condemnation, other than in compliance with the REMIC Provisions of the Code. If such provisions are found, it will be a Test pass.	Documents
	 28. Financial Reporting and Rent Rolls.  The Mortgage Loan Documents for each Mortgage Loan require the Mortgagor to provide the owner or holder of the Mortgage with quarterly (other than for single-tenant properties) and annual operating statements, and quarterly (other than for single-tenant properties) rent rolls for properties that have leases contributing more than 5% of the in-place base rent and annual financial statements, which annual financial statements with respect to each Mortgage Loan with more than one Mortgagor are in the form of an annual combined balance sheet of the Mortgagor entities (and no other entities), together with the related combined statements of operations, members’ capital and cash flows, including a combining balance sheet and statement of income for the Mortgaged Properties on a combined basis.	28a	Review the Mortgage Loan Documents for provisions that require the Mortgagor to provide the owner or holder of the Mortgage with quarterly (other than for single-tenant properties) and annual operating statements. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	28b	Review the Mortgage Loan Documents for provisions that require the Mortgagor to provide the owner or holder of the Mortgage with quarterly (other than for single-tenant properties) rent rolls for properties that have leases contributing more than 5% of the in-place base rent and annual financial statements which annual financial statements with respect to each Mortgage Loan with more than on Mortgagor are in the form of an annual combined balance sheet of the Mortgagor entities (and no other entities), together with the related combined statements of operations, members’ capital and cash flows, including a combining balance sheet and statement of income for the Mortgaged Properties on a combined basis. If such provisions are found, it will be a Test pass.	Mortgage Loan Documents
	
         29. Acts
of Terrorism Exclusion. With respect to each Mortgage Loan over $20 million, the related special-form all-risk insurance
policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude
Acts of Terrorism, as defined in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program
Reauthorization Act of 2007, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2015 (collectively referred
to as “TRIA”), from coverage, or if such coverage is excluded, it is covered by a 
	29a	Review the Mortgage Loan Documents to determine if the original principal balance was greater than $20 million.  If so, review the insurance coverage review document for an indication that the special-form all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude acts of terrorism, from coverage, or if they do, there exists a separate terrorism insurance policy related to the Mortgaged Property.  If such an indication is found, it will be a Test pass.	Mortgage Loan Documents; Insurance Coverage Review Document

 

    Exhibit QQ-22

     

    

 

	 Representations and Warranties	          Test	Review Materials
	separate terrorism insurance policy.  With respect to each other Mortgage Loan, the related special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to the Mortgage Loan Seller’s knowledge, do not, as of the Cut-off Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy.  With respect to each Mortgage Loan, the related Mortgage Loan Documents do not expressly waive or prohibit the Mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages related thereto; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then, provided that terrorism insurance is commercially available, the Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the Mortgagor shall not be required to spend more than the Terrorism Cap Amount on terrorism insurance coverage, and if the cost of terrorism insurance exceeds the Terrorism Cap Amount, the Mortgagor is required to purchase the maximum amount of terrorism insurance available with funds equal to the Terrorism Cap Amount.  The “Terrorism Cap Amount” is the specified percentage (which is at least equal to 200%) of the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Mortgage Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance).	29b	Review the Mortgage Loan Documents to determine if the original principal balance was $20 million or less at origination.  If so, review the insurance coverage review document for an indication that the related special all-risk insurance policy and business interruption policy (issued by an insurer meeting the Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, based on a review of the PSA Party Notices for lack of notation that to the Mortgage Loan Seller’s knowledge, do not, as of the Cut-off Date, specifically exclude acts of terrorism, from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. If such conditions are found to exist, it will be a Test pass.	Mortgage Loan Documents; Insurance Coverage Review Document; PSA Party Notices
	29c	Review the Mortgage Loan Documents for provisions that do not expressly waive or prohibit the Mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA (as defined in representation and warranty 29), or damages related thereto; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then, provided that terrorism insurance is commercially available, the Mortgagor under each Mortgage Loan is required to carry terrorism insurance, but in such event the Mortgagor shall not be required to spend more than the Terrorism Cap Amount on terrorism insurance coverage, and if the cost of terrorism insurance exceeds the Terrorism Cap Amount, the Mortgagor is required to purchase the maximum amount  of terrorism insurance available with funds equal to the Terrorism Cap Amount. If no indication is found, it will be a Test pass. For the purpose of testing 29c, the “Terrorism Cap Amount” is the specified percentage (which is at least equal to 200%) of the amount of the insurance premium that is payable at such time  in respect of the property and business interruption/rental loss insurance required under the related Mortgage Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance).	Mortgage Loan Documents
	 30. Due on Sale or Encumbrance.  Subject to specific exceptions set forth below, each Mortgage Loan contains a “due-on-sale” or other such provision for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the consent of the holder of the Mortgage (which consent, in some cases, may not be 	30a	Review the Mortgage Loan Documents for “due-on-sale” or other such provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan in the circumstances described in the first sentence of representation and warranty 30. If such provisions are found, it will be a Test 	Mortgage Loan Documents

 

    Exhibit QQ-23

     

    

 

	 Representations and Warranties	          Test	Review Materials
	unreasonably withheld) and/or complying with the requirements of the related Mortgage Loan Documents (which provide for transfers without the consent of the Mortgagee which are customarily acceptable to prudent commercial and multifamily mortgage lending institutions lending on the security of property comparable to the related Mortgaged Property, including, without limitation, transfers of worn-out or obsolete furnishings, fixtures, or equipment promptly replaced with property of equivalent value and functionality and transfers by leases entered into in accordance with the Mortgage Loan Documents), (a) the related Mortgaged Property, or any equity interest of greater than 50% in the related Mortgagor, is directly or indirectly pledged, transferred or sold, other than as related to (i) family and estate planning transfers or transfers upon death or legal incapacity, (ii) transfers to certain affiliates as defined in the related Mortgage Loan Documents, (iii) transfers of less than, or other than, a controlling interest in the related Mortgagor, (iv) transfers to another holder of direct or indirect equity in the Mortgagor, a specific Person designated in the related Mortgage Loan Documents or a Person satisfying specific criteria identified in the related Mortgage Loan Documents, such as a qualified equityholder, (v) transfers of stock or similar equity units in publicly traded companies or (vi) a substitution or release of collateral within the parameters of paragraphs (27) and (32) in this Annex D-1 or the exceptions thereto set forth on Annex D-2, or (vii) as set forth on an exhibit to the applicable Mortgage Loan Purchase Agreement by reason of any mezzanine debt that existed at the origination of the related Mortgage Loan, or future permitted mezzanine debt as set forth on an exhibit to the applicable Mortgage Loan Purchase Agreement or (b) the related Mortgaged Property is encumbered with a subordinate lien or security interest against the related Mortgaged Property, other than (i) any Companion Loan of any Mortgage Loan or any subordinate debt that existed at origination and is permitted under the related Mortgage Loan Documents, (ii) purchase money security interests (iii) any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, as set forth on an exhibit to the related Mortgage Loan Purchase Agreement or (iv) Permitted Encumbrances.  The Mortgage or other Mortgage Loan Documents provide that to the extent any Rating Agency fees are incurred in connection with the review of and consent to any transfer 	 	pass.	 
	30b	Review the Mortgage Loan Documents for provisions that require that if Rating Agency fees are incurred in connection with the review of and consent to any transfer or encumbrance, the Mortgagor is responsible for such payment along with all other reasonable fees and expenses incurred by the Mortgagee relative to such transfer or encumbrance. If such provisions are found, it will be a Test pass.

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                 
	Mortgage Loan Documents

 

    Exhibit QQ-24

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        or encumbrance, the Mortgagor is responsible for such
        payment along with all other reasonable out-of-pocket fees and expenses incurred by the Mortgagee relative to such transfer or
        encumbrance.

         

         
	 	 	 
	 31.
    Single-Purpose Entity.  Each Mortgage Loan requires the Mortgagor to be a Single-Purpose Entity for at
    least as long as the Mortgage Loan is outstanding.  Both the Mortgage Loan Documents and the organizational
    documents of the Mortgagor with respect to each Mortgage Loan with a Cut-off Date Principal Balance in excess of
    $5 million provide that the Mortgagor is a Single-Purpose Entity, and each Mortgage Loan with a Cut-off Date Principal
    Balance of $20 million or more has a counsel’s opinion regarding non-consolidation of the
    Mortgagor.  For this purpose, a “Single-Purpose Entity” shall mean an entity, other than an
    individual, whose organizational documents (or if the Mortgage Loan has a Cut-off Date Principal Balance equal to
    $5 million or less, its organizational documents or the related Mortgage Loan Documents) provide substantially to the
    effect that it was formed or organized solely for the purpose of owning and operating one or more of the Mortgaged Properties
    securing the Mortgage Loans and prohibit it from engaging in any business unrelated to such Mortgaged Property or Properties,
    and whose organizational documents further provide, or which entity represented in the related Mortgage Loan Documents,
    substantially to the effect that it does not have any assets other than those related to its interest in and operation of
    such Mortgaged Property or Properties, or any indebtedness other than as permitted by the related Mortgage(s) or the other
    related Mortgage Loan Documents, that it has its own books and records and accounts separate and apart from those of any
    other person (other than a Mortgagor for a Mortgage Loan that is cross-collateralized and cross-defaulted with the related
    Mortgage Loan), and that it holds itself out as a legal entity, separate and apart from any other person or entity.	31a	
        Review the Mortgage Loan Documents for provisions that require that
        the Mortgagor to be a Single-Purpose Entity (as defined in representation and warranty 31) for at least as long as any Mortgage
        Loan is outstanding. If such provisions are found, it will be a Test pass.

         
	Mortgage Loan Documents
	31b	Review the Mortgage Loan Schedule for the Cut-off Date Principal Balance of the Mortgage Loan. If the Mortgage Loan had a Cut-off Date Principal Balance in excess of $15 million, review the Mortgage Loan Documents and the Mortgagor’s organizational documents for provisions that require the Mortgagor to be a Single-Purpose Entity. If the provisions exist, it will be a Test pass.	Mortgage Loan Schedule; Mortgage Loan Documents; Mortgagor’s organizational documents
	31c	Review the Mortgage Loan Schedule for the Cut-off Date Principal Balance of the Mortgage Loan. If the Mortgage Loan had a Cut-off Date Principal Balance in excess of $20 million, review the Mortgagor’s Counsel Opinion regarding non-consolidation of the Mortgagor. If such an opinion is found, it will be a Test pass.

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                                                          

                                                                                 
	Mortgage Loan Schedule; Mortgagor’s Counsel Opinion
	 32. Defeasance.  With respect to any Mortgage Loan that, pursuant to the Mortgage Loan Documents, can be defeased (a “Defeasance”), (i) the 	32	Review the Mortgage Loan Documents for provisions allowing the Mortgage Loan to be defeased, and if so, whether such 	Mortgage Loan Documents

 

    Exhibit QQ-25

     

    

 

	 Representations and Warranties	          Test	Review Materials
	Mortgage Loan Documents provide for defeasance as a unilateral right of the Mortgagor, subject to satisfaction of conditions specified in the Mortgage Loan Documents; (ii) the Mortgage Loan cannot be defeased within two years after the Closing Date; (iii) the Mortgagor is permitted to pledge only United States “government securities” within the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii), the revenues from which will, in the case of a full Defeasance, be sufficient to make all scheduled payments under the Mortgage Loan when due, including the entire remaining principal balance on the maturity date (or on or after the first date on which payment may be made without payment of a yield maintenance charge or prepayment penalty), and if the Mortgage Loan permits partial releases of real property in connection with partial defeasance, the revenues from the collateral will be sufficient to pay all such scheduled payments calculated on a principal amount equal to a specified percentage at least equal to the lesser of (A) 110% of the allocated loan amount for the real property to be released and (B) the outstanding principal balance of the Mortgage Loan; (iv) the Mortgagor is required to provide a certification from an independent certified public accountant that the collateral is sufficient to make all scheduled payments under the Mortgage Note as set forth in (iii) above, (v) if the Mortgagor would continue to own assets in addition to the defeasance collateral, the portion of the Mortgage Loan secured by defeasance collateral is required to be assumed (or the Mortgagee may require such assumption) by a Single-Purpose Entity; (vi) the Mortgagor is required to provide an opinion of counsel that the Mortgagee has a perfected security interest in such collateral prior to any other claim or interest; and (vii) the Mortgagor is required to pay all rating agency fees associated with defeasance (if rating confirmation is a specific condition precedent thereto) and all other reasonable out-of-pocket expenses associated with defeasance, including, but not limited to, accountant’s fees and opinions of counsel.	 	Mortgage Loan Documents contain the provisions described in clauses (i) through (vii) of representation and warranty 32. If such provisions are found, it will be a Test pass.	 
	 33. Fixed Interest Rates.  Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in situations where default interest is imposed.	33	Review the Mortgage Loan Documents for an indication that the loan has a fixed interest rate that remains fixed throughout the term of such Mortgage Loan, except in situations where default interest is imposed. If such an indication is found, it will be a Test pass.	Mortgage Loan Documents

 

    Exhibit QQ-26

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
         34. Ground Leases. For
        purposes of this Annex D-1, a “Ground Lease” shall mean a lease creating a leasehold estate in real property
        where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and
        other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances,
        own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner and does
        not include industrial development agency (IDA) or similar leases for purposes of conferring a tax abatement or other benefit.

         

        With respect to any Mortgage Loan where the Mortgage
        Loan is secured by a leasehold estate under a Ground Lease in whole or in part, and the related Mortgage does not also encumber
        the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or
        other agreement received from the ground lessor in favor of the Mortgage Loan Seller, its successors and assigns, the Mortgage
        Loan Seller represents and warrants that:

         

        The Ground Lease or a memorandum regarding such Ground
        Lease has been duly recorded or submitted for recordation in a form that is acceptable for recording in the applicable jurisdiction.
        The Ground Lease or an estoppel or other agreement received from the ground lessor permits the interest of the lessee to be encumbered
        by the related Mortgage and does not restrict the use of the related Mortgaged Property by such lessee, its successors or assigns
        in a manner that would materially adversely affect the security provided by the related Mortgage. No material change in the terms
        of the Ground Lease had occurred since the origination of the Mortgage Loan, except as reflected in any written instruments which
        are included in the related Mortgage File;

         

        The lessor under such Ground Lease has agreed in a writing
        included in the related Mortgage File (or in such Ground Lease) that the Ground Lease may not be amended or modified, or canceled
        or terminated by agreement of lessor and lessee, without the prior written consent of the Mortgagee;

         
	34a	
        Review the appraisal to determine if the Mortgage Loan is secured
        by a Ground Lease (as defined in representation and warranty 34). If so, review the Title Policy and Mortgage Loan Documents for
        an indication that the related Mortgage does not also encumber the lessor’s fee interest in the Mortgaged Property. If such
        an indication exists, proceed to Tests 34b through 34r.

         
	Appraisal; Mortgage Loan Documents; Title Policy
	34b	Review the Title Policy and Mortgage Loan Documents for an indication that the Ground Lease or memorandum has been recorded or submitted for recordation. If such indication is found, it will be a Test pass.	Title Policy; Mortgage Loan Documents
	34c	Review the Ground Lease and the ground lessor’s estoppel (or other agreement received from the ground lessor) for an indication that the interest of the lessee is permitted to be encumbered by the Mortgage and does not restrict the use of the Mortgaged Property by such lessee, its successors or assigns in a manner that would adversely affect the security provided by the mortgage. If such indication is found, it will be a Test pass.	Ground lease; Ground lessor’s estoppel; Other agreement received from the ground lessor
	34d	Review the PSA Party Notices for notation that, as of the Closing Date, there was a material change in the terms of the Ground Lease since its recordation.  If no such notation is found, it will be a Test pass. If such notation is found, review the Mortgage File for a modification agreement or other such instrument is in the Mortgage File. If the modification agreement or instrument is in the Mortgage File, it will be a Test pass.	PSA Party Notices; Mortgage File
	34e	
        Review the Ground Lease and the ground lessor’s estoppel (or
        other agreement received from the ground lessor) for a provision that the Ground Lease may not be amended, modified, canceled or
        terminated without the prior written consent of the Mortgagee. If such a provision is found, it will be a Test pass.

         

         

         

         
	Ground Lease; Ground lessor’s estoppel; Other agreement received from the ground lessor

 

    Exhibit QQ-27

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        The Ground Lease has an original term (or an original
        term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by either
        Mortgagor or the Mortgagee) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan, or
        10 years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity (or with respect to a Mortgage Loan
        that accrues on an actual 360 basis, substantially amortizes);

         

        The Ground Lease either (i) is not subject to any
        liens or encumbrances superior to, or of equal priority with, the Mortgage, except for the related fee interest of the ground lessor
        and the Permitted Encumbrances or (ii) is subject to a subordination, non-disturbance and attornment agreement to which the
        Mortgagee on the lessor’s fee interest in the Mortgaged Property is subject;

         

        The Ground Lease does not place commercially unreasonably
        restrictions on the identity of the Mortgagee and the Ground Lease is assignable to the holder of the Mortgage Loan and its successors
        and assigns without the consent of the lessor thereunder (provided that proper notice is delivered to the extent required in accordance
        with the Ground Lease), and in the event it is so assigned, it is further assignable by the holder of the Mortgage Loan and its
        successors and assigns without the consent of (but with prior notice to) the lessor;

         

        The Mortgage Loan Seller has not received any written
        notice of material default under or notice of termination of such Ground Lease. To the Mortgage Loan Seller’s knowledge,
        there is no material default under such Ground Lease and no condition that, but for the passage of time or giving of notice, would
        result in a material default under the terms of such Ground Lease and to the Mortgage Loan Seller’s knowledge, such Ground
        Lease is in full force and effect as of the Closing Date;

         

        The Ground Lease or ancillary agreement between the lessor
        and the lessee requires the lessor to give to the Mortgagee written notice of any default, and provides that no notice of default
        or termination is effective against the Mortgagee unless such notice is given to the
	 	
         

         

         

         

         

         

         

         

         

         

         

         
	 
	34f	Review the Ground Lease and the ground lessor’s estoppel (or other agreement received from the ground lessor) for an indication that it has an original term (or an original term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by either Mortgagor or the Mortgagee) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan, or ten years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity (or with respect to a Mortgage Loan that accrues on an actual 360 basis, substantially amortizes). If such an indication is found, it will be a Test pass.	Ground Lease; Ground lessor’s estoppel; Other agreement received from the ground lessor
	34g	Review the Title Policy for an indication that the Ground Lease is either (i) is not subject to any liens or encumbrances superior to, or of equal priority with, the mortgage, except for the related fee interest of the ground lessor and the Permitted Encumbrances, or (ii) is subject to a subordination, non-disturbance and attornment agreement to which the Mortgagee on the lessor’s fee interest in the Mortgaged Property is subject.  If either indication is found, it will be a Test pass.	Title Policy; SNDA
	34h	
        Review the Ground Lease and any estoppel (or other agreement of
        the ground lessor) for an indication that the Ground Lease does not place restrictions on the identity of the Mortgagee and the
        Ground Lease is assignable to the holder of the Mortgage Loan and its successors and assigns without the consent of the lessor
        thereunder (provided that proper notice is delivered to the extent required in accordance with the Ground Lease). If such indication
        is found, it will be a Test pass.

         
	Ground Lease; Estoppel (or other agreement of the ground lessor)

 

    Exhibit QQ-28

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        Mortgagee;

         

        The Mortgagee is permitted a reasonable opportunity (including,
        where necessary, sufficient time to gain possession of the interest of the lessee under the Ground Lease through legal proceedings)
        to cure any default under the Ground Lease which is curable after the Mortgagee’s receipt of notice of any default before
        the lessor may terminate the Ground Lease;

         

        The Ground Lease does not impose any restrictions on
        subletting that would be viewed as commercially unreasonable by a prudent commercial mortgage lender;

         

        Under the terms of the Ground Lease, an estoppel or other
        agreement received from the ground lessor and the related Mortgage (taken together), any related insurance proceeds or the portion
        of the condemnation award allocable to the ground lessee’s interest (other than (i) de minimis amounts for minor casualties
        or (ii) in respect of a total or substantially total loss or taking as addressed in subpart (k)) will be applied either
        to the repair or to restoration of all or part of the related Mortgaged Property with (so long as such proceeds are in excess of
        the threshold amount specified in the related Mortgage Loan Documents) the Mortgagee or a trustee appointed by it having the right
        to hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding principal balance
        of the Mortgage Loan, together with any accrued interest;

         

        In the case of a total or substantially total taking
        or loss, under the terms of the Ground Lease, an estoppel or other agreement and the related Mortgage (taken together), any related
        insurance proceeds, or portion of the condemnation award allocable to the ground lessee’s interest in respect of a total
        or substantially total loss or taking of the related Mortgaged Property to the extent not applied to restoration, will be applied
        first to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest; and

         

        Provided that the Mortgagee cures any defaults
which are susceptible
	34i	Review the Ground Lease or estoppel (or other agreement of the ground lessor) for an indication that in the event it is so assigned, it is further assignable by the holder of the Mortgage Loan and its successors and assigns without the consent of (but with prior notice to) the lessor. If such indication is found, it will be a Test pass.	Ground Lease; Estoppel (or other agreement of the ground lessor)
	34j	Review the PSA Party Notices for notation that the Mortgage Loan Seller has received any written notice of material default under or notice of termination of such Ground Lease. If no such notation is found, it will be a Test pass.	PSA Party Notices
	34k	Review the PSA Party Notices for notation that to the Mortgage Loan Seller’s knowledge, there is a material default under such Ground Lease or condition that, but for the passage of time or giving of notice, would result in a material default under the terms of such Ground Lease.  If no such notation is found, it will be a Test pass.	PSA Party Notices
	34l	Review the PSA Party Notices for a notation that to the Mortgage Loan Seller’s knowledge, such Ground Lease was not in full force and effect as of the Closing Date. If no such notation is found, it will be a Test pass.	PSA Party Notices
	34m	Review the Ground Lease or estoppel (or other agreement of the ground lessor) for provisions that the lessor is required to give to the Mortgagee written notice of any default, and provides that no notice of default or termination is effective against the Mortgagee unless such notice is given to the Mortgagee. If such provisions are found, it will be a Test pass.	Ground Lease; Estoppel  (or other agreement of the ground lessor)
	34n	Review
the Ground Lease or estoppel (or other agreement of the ground lessor) for provisions that the Mortgagee is permitted a reasonable
opportunity (including, where necessary, sufficient time to gain possession of the interest of the lessee under the Ground Lease
through legal proceedings) to cure any default under the Ground Lease which is curable after the Mortgagee’s receipt of
notice of any default before the lessor may terminate the Ground Lease. If such provisions are found, it will be a Test pass.  
	Ground Lease; Estoppel  (or other agreement of the ground lessor)

 

    Exhibit QQ-29

     

    

 

	 Representations and Warranties	          Test	Review Materials
	
        to being cured, the ground lessor has agreed to enter
        into a new lease with the Mortgagee upon termination of the Ground Lease for any reason, including rejection of the Ground Lease
        in a bankruptcy proceeding.

         
	34o	Review the Ground Lease for provisions that impose any restrictions on subletting that would be viewed as commercially unreasonable by a prudent commercial mortgage lender. If no such provisions are found, it will be a Test pass.	Ground Lease
	34p	Review the Ground Lease, estoppel (or other agreement of the ground lessor) and Mortgage Loan Documents for an indication that any related insurance proceeds or the portion of the condemnation award allocable to the ground lessee’s interest (other than (i) de minimis amounts for minor casualties or (ii) in respect of a total or substantially total loss or taking as addressed in subpart (34k)) will be applied either to the repair or to restoration of all or part of the related Mortgaged Property with (so long as such proceeds are in excess of the threshold amount specified in the related Mortgage Loan Documents) the Mortgagee or a trustee appointed by it having the right to hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest. If such indications are found, it will be a Test pass.	Ground Lease; Estoppel (or other agreement of the ground lessor); Mortgage Loan Documents
	34q	Review the Ground Lease, estoppel (or other agreement of the ground lessor) and Mortgage Loan Documents for an indication that, in the case of a total or substantially total taking or loss, under the terms of the Ground Lease, an estoppel or other agreement and the related Mortgage (taken together), any related insurance proceeds, or portion of the condemnation award allocable to the ground lessee’s interest in respect of a total or substantially total loss or taking of the related Mortgaged Property to the extent not applied to restoration, will be applied first to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest. If such an indication is found, it will be a Test pass.	Ground Lease; Estoppel (or other agreement of the ground lessor); Mortgage Loan Documents
	34r	Review the Ground Lease or estoppel (or other agreement of the ground lessor) for provisions that, provided that the Mortgagee cures any defaults which are susceptible to being cured, the ground lessor has agreed to enter into a new lease with the Mortgagee upon termination of the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding. If such provisions are found, it will be a Test pass.	Ground Lease; Estoppel (or other agreement of the ground lessor)
	 35. Servicing.  The servicing and collection practices used by the	35a	Review the PSA Party Notices for notation to the effect that the	PSA Party Notices

 

    Exhibit QQ-30

     

    

 

	 Representations and Warranties	          Test	Review Materials
	Mortgage Loan Seller with respect to the Mortgage Loan have been, in all respects, legal and have met customary industry standards for servicing of commercial loans for conduit loan programs.	 	servicing and collection practices used by the Mortgage Loan Seller in respect of the Mortgage Loan were not in all respects, legal and met customary industry standards for servicing of commercial loans for conduit loan programs. If no such notation is found, it will be a Test pass.	 
	 36. Origination and Underwriting.  The origination practices of the Mortgage Loan Seller (or the related originator if the Mortgage Loan Seller was not the originator) with respect to each Mortgage Loan have been, in all material respects, legal and as of the date of its origination, such Mortgage Loan (or the related Whole Loan, as applicable) and the origination thereof complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination of such Mortgage Loan; provided that such representation and warranty does not address or otherwise cover any matters with respect to federal, state or local law otherwise covered in this Annex D-1.	36	Review the PSA Party Notices for notation to the effect that the origination practices of the Mortgage Loan Seller (or the related originator if the Mortgage Loan Seller was not the originator) with respect to each Mortgage Loan have not been, in all material respects, legal and as of the date of its origination, such Mortgage Loan (or the related Whole Loan, as applicable), or the origination thereof did not comply in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination of such Mortgage Loan; provided that representation and warranty 36 does not address or otherwise cover any matters with respect to federal, state or local law otherwise covered in Annex D-1. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 37. No Material Default; Payment Record.  No Mortgage Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, no Mortgage Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Date.  To the Mortgage Loan Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either (a) or (b), materially and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Mortgage Loan Seller in this Annex D-1 (including, but not limited to, the prior sentence).  No person other than the holder of such Mortgage Loan may declare 	37a	
        Review the PSA Party Notices for notation that (i) the Mortgage
        Loan has been more than 30 days delinquent, giving effect to any grace or cure period, in making required payments since origination,
        or (ii) the Mortgage Loan was delinquent beyond any applicable grace or cure periods as of the Closing Date. If no such notation
        is found, it will be a Test pass.

         
	PSA Party Notices
	37b	Review the PSA Party Notices for notation of the Mortgage Loan Seller’s knowledge of  (a) a material default, breach, violation or event of acceleration existing under the related Mortgage Loan, or (b) an event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either (a) or (b), materially and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property.  If no such notation is found, it will be a Test pass.	PSA Party Notices
	37c	Review the PSA Party Notices for notation that  a person other than the holder of such Mortgage Loan may declare any event of default under the Mortgage Loan or accelerate any indebtedness 	PSA Party Notices

 

    Exhibit QQ-31

     

    

 

	 Representations and Warranties	          Test	Review Materials
	any event of default under the Mortgage Loan or accelerate any indebtedness under the Mortgage Loan Documents.	 	under the Mortgage Loan Documents. If no such notation is found, it will be a Test pass.	 
	
         38. Bankruptcy. As of
        the date of origination of the related Mortgage Loan and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date,
        neither the Mortgaged Property (other than any tenants of such Mortgaged Property), nor any portion thereof, is the subject of,
        and no Mortgagor, guarantor or tenant occupying a single-tenant property is a debtor in state or federal bankruptcy, insolvency
        or similar proceeding.

         
	38	
        Review Lexis/Nexis (or comparable search) and the PSA Party Notices
        for an indication that the Mortgaged Property (other than any tenants of such Mortgaged Property), or any portion thereof, was
        the subject of, or a Mortgagor, guarantor or tenant occupying a single-tenant property was a debtor in, a state or federal bankruptcy,
        insolvency or similar proceeding as of the origination date. Review the PSA Party Notices for an indication that the Mortgage Loan
        Seller had knowledge that the above occurred prior to the Cut-off Date. If no such indication or notation is found for either,
        it will be a Test pass.

         
	Lexis/Nexis (or comparable search); PSA Party Notices
	 39. Organization of Mortgagor.  With respect to each Mortgage Loan, in reliance on certified copies of the organizational documents of the Mortgagor delivered by the Mortgagor in connection with the origination of such Mortgage Loan (or the related Whole Loan, as applicable), the Mortgagor is an entity organized under the laws of a state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico.  Except with respect to any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, no Mortgage Loan has a Mortgagor that is an affiliate of another Mortgagor under another Mortgage Loan.	39a	Review the certified copies of the organizational documents of the Mortgagor for an indication that the Mortgagor is an entity organized under the laws of a state of the United States of America, the District of Columbia or the Commonwealth of Puerto Rico. If such indication is found, it will be a Test pass. 	Organizational Documents
	39b	Review the certified copies of the organizational documents of the Mortgagor for an indication that, except with respect to any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, no Mortgage Loan has a Mortgagor that is an affiliate of another Mortgagor under another Mortgage Loan. If such an indication is found,  it will be a Test pass.	Organizational Documents
	
         40. Environmental Conditions.
        A Phase I environmental site assessment (or update of a previous Phase I and or Phase II site assessment) and, with
        respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting
        ASTM requirements were conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months
        prior to its origination date (or an update of a previous ESA was prepared), and such ESA (i) did not identify the existence
        of recognized environmental conditions (as such term is defined in ASTM E1527-05 or its successor, an “Environmental Condition”)
        at the related Mortgaged Property or the need for further investigation, or (ii) if the existence of an Environmental Condition
        or need for further investigation was indicated in any such ESA, then at least one of the following statements is true: (A) an
        amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the

         
	40a	
        Review the Diligence File to determine if an ESA (as defined in
        representation and warranty 40) is included. If so, review the ESA for an indication that it was conducted within 12 months prior
        to the origination date of the Mortgage Loan. If such an indication is found, it will be a Test pass.

         
	Diligence File; ESA
	40b	
        Review the ESA for an indication that it identified (i) the existence
        of a recognized environmental condition at the related Mortgaged Property (as defined in representation and warranty 40) or (ii)
        the need for further investigation. If no such indication is found, it will be a Test pass.

         

         
	ESA
	40c	Review the ESA for an indication that it identified (i) the existence of a recognized environmental condition at the related 	ESA; Escrow Statements; Mortgage 

 

    Exhibit QQ-32

     

    

 

	 Representations and Warranties	          Test	Review Materials
	estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; (B) if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that, based on the ESA, can reasonably be expected to mitigate the identified risk; (C) the Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action is required); (D) an environmental policy or a lender’s pollution legal liability insurance policy meeting the requirements set forth below that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Moody’s Investors Service, Inc., Standard & Poor’s Ratings Services and/or Fitch Ratings, Inc.; (E) a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor having financial resources reasonably estimated to be adequate to address the situation is required to take action.  To the Mortgage Loan Seller’s knowledge, except as set forth in the ESA, there is no Environmental Condition (as such term is defined in ASTM E1527-05 or its successor) at the related Mortgaged Property.	 	
        Mortgaged Property or (ii) the need for further investigation. If
        such an indication is found, the following test procedures (subparts 40c-1 through 40c-6) will be performed. If any of the subparts
        indications are found, it will be a Test pass.

         

        1. Review escrow statements for an indication that an amount reasonably
        estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance
        with applicable environmental laws or the environmental condition has been escrowed by the Mortgagor and is held by the related
        Mortgagee.

         

        2. Review the ESA for an indication that if the only Environmental
        Condition (as defined in representation and warranty 40) relates to the presence of asbestos-containing materials, radon in indoor
        air or lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, and
        if so, a review of the Mortgage Loan Documents indicates that an operations or maintenance plan has been required to be instituted
        by the related Mortgagor that, based on the ESA, can reasonably be expected to mitigate the identified risk.

         

        3. Review the Diligence File for an indication that any Environmental
        Condition identified in the ESA was remediated or abated in all material respects prior to the Cut-off Date, as evidenced by a
        no further action or closure letter that was obtained from the applicable governmental regulatory authority, or a reputable environmental
        consultant has concluded that no further action is required.

         

        4. Review the insurance coverage review documents for an indication
        that an environmental policy or a lender’s pollution legal liability insurance policy meeting the requirements set forth
        below that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than A- (or
        the equivalent) by Moody’s Investors Service, Inc., Standard & Poor’s Ratings Services and/or Fitch Ratings, Inc.
	Loan Documents; Diligence File; Insurance Coverage Review Document
	 	 	 	 

    Exhibit QQ-33

     

    

 

	 Representations and Warranties	          Test	Review Materials
	 	 	
        5. Review the Diligence File for an indication that a party not
        related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party
        has financial resources considered by the Mortgage Loan Seller to be adequate to address the situation.

         

        6. Review the Diligence File for an indication that a party related
        to the Mortgagor having financial resources estimated by the Mortgage Loan Seller to be adequate to address the situation is required
        to take action.
	 
	 41. Appraisal.  The Mortgage File contains an appraisal of the related Mortgaged Property with an appraisal date within 6 months of the Mortgage Loan origination date, and within 12 months of the Closing Date.  The appraisal is signed by an appraiser who is a Member of the Appraisal Institute (“MAI”) and, to the Mortgage Loan Seller’s knowledge, had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and whose compensation is not affected by the approval or disapproval of the Mortgage Loan.  Each appraiser has represented in such appraisal or in a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation.  Each appraisal contains a statement, or is accompanied by a letter from the appraiser, to the effect that the appraisal was performed in accordance with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage Loan was originated.	41a	Review the appraisal for an indication that it was dated within 6 months of the Mortgage Loan origination date and with 12 months of the Closing Date. If such an indication is found, it will be a Test pass.	Appraisal
	41b	
        Review the appraisal for an indication that it was signed by an
        appraiser represented to be an MAI. If such an indication is found, it will be a Test pass.

         
	Appraisal
	41c	
        Review the PSA Party Notices for notation that, to the Mortgage
        Loan Seller’s knowledge, the appraiser had an interest, direct or indirect, in the Mortgaged Property or the Mortgagor or
        in any loan made on the security thereof, or whose compensation was affected by the approval or disapproval of the Mortgage Loan.
        If no such notation is found, it will be a Test pass.

         
	PSA Party Notices
	41d	Review the appraisal for an indication that it includes documentation in the appraisal or a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation and was performed in accordance with the requirements of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage Loan was originated.  If such indications are found, it will be a Test pass.	Appraisal or supplemental letter from Appraiser 
	 42. Mortgage Loan Schedule.  The information pertaining to each Mortgage Loan which is set forth in the Mortgage Loan Schedule attached as an exhibit to the related Mortgage Loan Purchase Agreement is true and correct in all material respects as of the Cut-off Date and contains all information required by the Pooling and 	42a	Review the Mortgage Loan Schedule attached as an exhibit to the related Mortgage Loan Purchase Agreement and compare it to the corresponding information in (i) Annex A to the final prospectus (ii) Mortgage Loan Documents and (iii) Pooling and Servicing Agreement.  If there are no such discrepancies, it will 	Mortgage Loan Purchase Agreement; Annex A to Prospectus; Mortgage Loan Documents; PSA

 

    Exhibit QQ-34

     

    

 

	 Representations and Warranties	          Test	Review Materials
	Servicing Agreement to be contained in the Mortgage Loan Schedule.	 	be a Test pass.	 
	42b	Compare the information in the Mortgage Loan Schedule to the requirements of the PSA to determine if they match. If there are no discrepancies, it will be a Test pass.	Mortgage Loan Schedule; PSA
	 43. Cross-Collateralization.  Except with respect to a Mortgage Loan that is part of a Whole Loan, no Mortgage Loan is cross-collateralized or cross-defaulted with any other Mortgage Loan that is outside the Mortgage Pool, except as set forth on Annex D-2.	43	Except for any Mortgage Loan that is part of a Whole Loan or any Mortgage Loan otherwise set forth on Annex D-2 of the related Mortgage Loan Purchase Agreement, review the PSA Party Notices for notation that the Mortgage Loan is cross-collateralized or cross-defaulted with any other Mortgage Loan that is outside the Mortgage Pool. If no such notation is found, it will be a Test pass.	PSA Party Notices
	 44. Advance of Funds by the Mortgage Loan Seller.  After origination, no advance of funds has been made by the Mortgage Loan Seller to the related Mortgagor other than in accordance with the Mortgage Loan Documents, and, to the Mortgage Loan Seller’s knowledge, no funds have been received from any person other than the related Mortgagor or an affiliate for, or on account of, payments due on the Mortgage Loan (other than as contemplated by the Mortgage Loan Documents, such as, by way of example and not in limitation of the foregoing, amounts paid by the tenant(s) into a Mortgagee-controlled lockbox if required or contemplated under the related lease or Mortgage Loan Documents).  Neither the Mortgage Loan Seller nor any affiliate thereof has any obligation to make any capital contribution to any Mortgagor under a Mortgage Loan, other than contributions made on or prior to the date hereof.	44a	Review the PSA Party Notices for notation that, after origination, an advancement of funds had been made by the Mortgage Loan Seller to the related Mortgagor other than in accordance with the Mortgage Loan Documents, or, to the Mortgage Loan Seller’s knowledge, funds have been received from any person other than the related Mortgagor or an affiliate for, or on account of, payments due on the Mortgage Loan (other than as contemplated by the Mortgage Loan Documents, such as, by way of example and not in limitation of the foregoing, amounts paid by the tenant(s) into a Mortgagee-controlled lockbox if required or contemplated under the related lease or Mortgage Loan Documents).  If no such notation is found, it will be a Test pass.	PSA Party Notices
	44b	Review the PSA Party Notices for notation that the Mortgage Loan Seller, or an affiliate has an obligation to make any capital contribution to any Mortgagor, other than contributions made on or prior to the Closing Date. If no such notation is found, it will be a Test pass.	PSA Party Notices
	
         45. Compliance
        with Anti-Money         Laundering Laws. The Mortgage Loan Seller has complied in all material respects with all
        applicable anti-money laundering laws         and regulations, including without limitation the USA Patriot Act of 2001 with
        respect to the origination of the Mortgage Loan.

         
	45	Review the PSA Party Notices for notation that the Mortgage Loan Seller has not complied in all material respects with all applicable anti-money laundering laws and regulations, including without limitation the USA Patriot Act of 2001 with respect to the origination of the Mortgage Loan. If no such notation is found, it will be a Test pass.	PSA Party Notices

 

    Exhibit QQ-35

     

    

 

 

EXHIBIT
RR

 

FORM OF CERTIFICATION TO CERTIFICATE
ADMINISTRATOR REQUESTING ACCESS TO SECURE DATA ROOM

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045-1951

Attention: Corporate Trust Services (CMBS)

GS Mortgage Securities Trust 2016-GS4

Email: trustadministrationgroup@wellsfargo.com

 

		Attention:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4

 

In accordance with
the requirements for obtaining access to the Secure Data Room pursuant to the Pooling and Servicing Agreement, dated as of November
1, 2016 (the “Pooling and Servicing Agreement”), by and among GS Mortgage Securities Corporation II, as Depositor,
Wells Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland
Loan Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225
Bush Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and
Wilmington Trust, National Association, as Trustee, with respect to the certificates (the “Certificates”), the
undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an authorized representative of the [Depositor][Asset
Representations Reviewer].

 

		2.	The undersigned acknowledges and agrees that (a) access to the Secure Data
Room is being granted to it solely for purposes of the undersigned carrying out its obligations under the Pooling and Servicing
Agreement (b) it will not disseminate or otherwise make information contained on the Secure Data Room available to any other person
except in accordance with the Pooling and Servicing Agreement or otherwise with the written consent of the Depositor and (c) it
will only access information relating to the Mortgage Loans to which the Asset Review relates.

 

		3.	The undersigned agrees that each time it accesses the Secure Data Room, the
undersigned is deemed to have recertified that the representations above remains true and correct.

 

		4.	[The undersigned is not a Certificateholder, a beneficial owner or a prospective
purchaser of any Certificate.]

 

    Exhibit RR-1 

     

    

 

BY ITS CERTIFICATION HEREOF, the undersigned
has made the representations above and shall have caused, or shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

	 	 	 
	 	[NAME OF PARTY],
	 	as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: _______

 

[GS Mortgage Securities Corporation
II,

as Depositor]

	 	 	 
	By: 	 	 
	 	[Name]	 
	 	[Title]	 

 

    Exhibit RR-2 

     

    

  

EXHIBIT
SS

 

FORM OF NOTICE OF [ADDITIONAL DELINQUENT
MORTGAGE LOAN][CESSATION OF DELINQUENT MORTGAGE LOAN][CESSATION OF ASSET REVIEW TRIGGER]

 

[Date]

 

	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC-D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Asset Manager

Email: commercial.servicing@wellsfargo.com	
        AEGON USA Realty Advisors, LLC

4333 Edgewood Road, NE,

        Cedar Rapids, Iowa 52499

         

	 	 
	
        Midland Loan Services, a Division of PNC Bank, National
Association 

        10851 Mastin Street 

        Overland Park, Kansas 66210 

        Attention: Executive Vice President – Division Head

         
	Wells Fargo Bank, National Association

Commercial Mortgage Special Servicing

MAC D1050-084

Three Wells Fargo

401 South Tryon Street, 8th Floor

Charlotte, North Carolina 28202

Attention: GS 2016-GS4 Special Servicing – Daniel Marthinsen

Email: dan.marthinsen@wellsfargo.com
	 	 
	Park Bridge Lender Services LLC 

600 Third Avenue, 40th Floor 

New York, New York 10016 

Attention: GSMS 2016-GS4 Surveillance

Manager (with a copy sent contemporaneously 

via email to 

cmbs.notices@parkbridgefinancial.com)	 
	 	 

		Attention:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through
Certificates, Series 2016-GS4

 

In accordance with
Section 12.01(a) of the Pooling and Servicing Agreement, dated as of November 1, 2016 (the “Pooling and Servicing Agreement”),
by and among GS Mortgage Securities Corporation II, as Depositor, Wells Fargo Bank, National Association, as Master Servicer, as
AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan Services, a Division of PNC Bank, National Association,
as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush Street Special Servicer, Park Bridge Lender Services LLC,
as Operating Advisor and as Asset Representations Reviewer, and Wilmington Trust, National Association, as Trustee, the Certificate
Administrator hereby notifies you that as of [RELATED DISTRIBUTION DATE]:

 

		5.	_____ An additional Mortgage Loan has become a Delinquent Mortgage Loan.

 

		6.	_____ A Mortgage Loan has ceased to be a Delinquent Mortgage Loan.

 

		7.	_____ An Asset Review Trigger has ceased to exist.

(check all that apply)

 

    Exhibit SS-1 

     

    

 

Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

	 	 	 
	 	Wells Fargo Bank, National Association,
as Certificate Administrator for the Holders of the GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4
	 	 	 
	 	By:	 
	 	 	[Name]
	 	 	[Title]

 

    Exhibit SS-2 

     

    

  

EXHIBIT
TT-1

 

Form
of NOTICE OF PURCHASE OF AN AMA PLAZA CONTROLLING CLASS CERTIFICATE

 

[Date]

 

Wells Fargo Bank, National Association

        as Certificate Administrator

9062 Old Annapolis Road 

Columbia, Maryland 21045-1951 

Attention: Corporate Trust Services (CMBS) 

GS Mortgage Securities Trust 2016-GS4

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 (the “Certificates”) issued pursuant
to the Pooling and Servicing Agreement (the “Pooling and Servicing
Agreement”), dated as of November 1, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan
Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush
Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee

 

This letter is delivered to you, pursuant
to Section 3.32(c) of the Pooling and Servicing Agreement in connection with the transfer by ____________ (the “Transferor”)
to us (the “Transferee”) of $__________________ original [principal balance][notional amount] of the Class [AMA-A][X-AMA][AMA-B][AMA-C][AMA-D]
Certificates, representing [_____]% of the Class [AMA-A][X-AMA][AMA-B][AMA-C][AMA-D] Certificates. The AMA Plaza Loan-Specific
Certificates were issued pursuant to the Pooling and Servicing Agreement.

 

1.            Our name and address is
as follows:

	 	 	 
	 	 	 
	 	 	 

Contact Info: [Tel/Email]

 

		2.	[IF APPLICABLE] We hereby certify, represent and warrant to you, as Certificate Administrator, that we are purchasing a majority
interest in the Class [AMA-A][X-AMA][AMA-B][AMA-C][AMA-D] Certificates.

 

    Exhibit TT-1 

     

    

 

All capitalized terms used but not otherwise
defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.

	 	 	 
	 	Very truly yours,
	 	 
	 	       (Transferee)
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    Exhibit TT-2 

     

    

  

EXHIBIT
TT-2

 

Form
of NOTICE OF PURCHASE OF A 225 BUSH STREET CONTROLLING CLASS CERTIFICATE

 

[Date]

 

Wells Fargo Bank, National Association

        as Certificate Administrator

9062 Old Annapolis Road 

Columbia, Maryland 21045-1951 

Attention: Corporate Trust Services (CMBS) 

GS Mortgage Securities Trust 2016-GS4

 

		Re:	GS Mortgage Securities Trust 2016-GS4, Commercial Mortgage Pass-Through Certificates,
Series 2016-GS4 (the “Certificates”) issued pursuant
to the Pooling and Servicing Agreement (the “Pooling and Servicing
Agreement”), dated as of November 1, 2016, by and among GS Mortgage Securities Corporation II, as Depositor, Wells
Fargo Bank, National Association, as Master Servicer, as AMA Plaza Special Servicer and as Certificate Administrator, Midland Loan
Services, a Division of PNC Bank, National Association, as General Special Servicer, AEGON USA Realty Advisors, LLC, as 225 Bush
Street Special Servicer, Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer, and Wilmington
Trust, National Association, as Trustee

 

This letter is delivered to you, pursuant
to Section 3.32(c) of the Pooling and Servicing Agreement in connection with the transfer by ____________ (the “Transferor”)
to us (the “Transferee”) of $__________________ original [principal balance][notional amount] of the Class [225-A][X-225][225-B][225-C][225-D][225-E]
Certificates, representing [_____]% of the Class [225-A][X-225][225-B][225-C][225-D][225-E] Certificates. The 225 Bush Street Loan-Specific
Certificates were issued pursuant to the Pooling and Servicing Agreement.

 

1.            Our name and address is
as follows:

	 	 	 
	 	 	 
	 	 	 

Contact Info: [Tel/Email]

 

		2.	[IF APPLICABLE] We hereby certify, represent and warrant to you, as Certificate Administrator, that we are purchasing a majority
interest in the Class [225-A][X-225][225-B][225-C][225-D][225-E] Certificates.

 

    Schedule l-1 

     

    

 

All capitalized terms used but not otherwise
defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.

	 	 	 
	 	Very truly yours,
	 	 
	 	       (Transferee)
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    Schedule l-2 

     

    

 

Schedule
1

 

MORTGAGE LOANS WITH ADDITIONAL DEBT

 

		1.	AMA Plaza

 

		2.	225 Bush Street

 

		3.	540 West Madison

 

		4.	U.S. Industrial Portfolio

 

		5.	Simon Premium Outlets

 

		6.	Hamilton Place

 

		7.	Embassy Suites Portland Airport

 

		8.	Residence Inn and SpringHill Suites North Shore

 

    Schedule 3-1 

     

    

 

Schedule
2

 

CLASS A-AB SCHEDULED PRINCIPAL BALANCE
SCHEDULE

See Annex E to the Prospectus.

 

    Schedule 3-2 

     

    

 

Schedule
3

 

MORTGAGE LOANS WITH “PERFORMANCE”,
“EARN-OUT” OR “HOLDBACK” ESCROWS OR RESERVES

 

None.

 

    Schedule 3-3

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