Document:

Exhibit 4.10

 

 

Loan No.: 17309

CO-LENDER AGREEMENT

Dated as of November 9, 2021

between

 

CITI REAL ESTATE FUNDING INC.

(Note A-1 Holder)

 

and

 

LMF COMMERCIAL, LLC

(Note A-2 Holder)

 

 

 

 

     

     

    

TABLE OF CONTENTS

Page

	1.	Definitions; Conflicts.	2
	2.	Servicing of the Mortgage Loan.	11
	3.	Priority of Notes.	13
	4.	Workout.	13
	5.	Accounts; Payment Procedure.	14
	6.	Limitation on Liability.	14
	7.	Representations of the Holders.	15
	8.	Independent Analyses of each Holder.	15
	9.	No Creation of a Partnership or Exclusive Purchase Right.	16
	10.	Not a Security.	16
	11.	Other Business Activities of the Holders.	16
	12.	Transfer of Notes.	16
	13.	Exercise of Remedies by the Servicer.	18
	14.	Rights of the Directing Holder.	20
	15.	Appointment of Special Servicer.	22
	16.	Rights of the Non-Directing Holders.	22
	17.	Advances; Reimbursement of Advances.	23
	18.	Provisions Relating to Securitization.	24
	19.	Governing Law; Waiver of Jury Trial.	31
	20.	Modifications.	31
	21.	Successors and Assigns; Third Party Beneficiaries.	31
	22.	Counterparts.	31
	23.	Captions.	32
	24.	Notices.	32
	25.	Custody of Mortgage Loan Documents.	32

 

    -i- 

     

    

THIS CO-LENDER AGREEMENT
(the “Agreement”), dated as of November 9, 2021, is between CITI REAL ESTATE FUNDING INC., a New York
corporation, having an address at 388 Greenwich Street, 8th Floor, New York, New York 10013 (together with its successors and/or assigns,
“Citi”), as the holder of Note A-1 (the “Note A-1 Holder”), and LMF COMMERCIAL,
LLC, a Delaware limited liability company, having an address of 590 Madison Avenue, 9th floor, New York, New York 10022
(together with its successors and/or assigns, “LMF”, as the holder of Note A-2 (the “Note A-2
Holder”).

W I T N E S S E T H:

WHEREAS, LMF and Citi have
made a mortgage loan in the original principal amount of $83,000,000 (the “Mortgage Loan”) to Royal Breeze Apartments,
Inc., a Delaware corporation, Lenox Apartments, Inc., a Delaware corporation and Park Aberdeen Apartments, LLC, a Florida limited liability
company (collectively, the “Borrower”) pursuant to a loan agreement between the Borrower, as borrower, and LMF
and Citi, as lenders, dated as of November 9, 2021 (the “Loan Agreement”);

WHEREAS, the Mortgage Loan
is evidenced by two notes, Promissory Note A-1 in the original principal amount of $48,000,000, and Promissory Note A-2 in the original
principal amount of $35,000,000 (“Note A-1” “and “Note A-2,” respectively, and
individually, each, a “Note” and collectively the “Notes”);

 

WHEREAS, the Mortgage Loan is secured by a first mortgage
lien (the “Mortgage”) on the Property (as defined in the Loan Agreement);

WHEREAS, Citi intends (but
is not bound) to sell, transfer and assign its right, title and interest in and to Note A-1 to Citigroup Commercial Mortgage Securities
Inc. (“CCMSI”), as depositor, pursuant to a Mortgage Loan Purchase Agreement by and between CCMSI, as purchaser,
and Citi, as seller, and CCMSI intends to transfer its right, title and interest in and to Note A-1 to a trustee for the Benchmark 2021-B31
Mortgage Trust; provided, however, that Citi may sell, transfer and assign Note A-1 to another depositor for deposit into
another securitization trust (such sales, transfers and assignments, the “Note A-1 Securitization”);

WHEREAS, LMF intends (but
is not bound) to sell, transfer and assign its right, title and interest in and to Note A-2 to Wells Fargo Commercial Mortgage Securities,
Inc. (“WFCMS”), as depositor, pursuant to a Mortgage Loan Purchase Agreement by and between WFCMS, as purchaser,
and LMF as seller, and WFCMS intends to transfer its right, title and interest in and to Note A-2 to a trustee for the Wells Fargo Commercial
Mortgage Trust 2021-C61; provided, however, that LMF may sell, transfer and assign Note A-2 to another depositor for deposit
into another securitization trust (such sales, transfers and assignments, the “Note A-2 Securitization”);

WHEREAS, the parties hereto
desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns, shall hold Note A-1 and
Note A-2 respectively; and

     

     

    

NOW, THEREFORE, in consideration
of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto mutually agree as follows:

1.   Definitions; Conflicts.
References to a “Section” or the “recitals” are, unless otherwise specified, to a Section or the recitals of this
Agreement. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Servicing Agreement.
To the extent of any inconsistency between this Agreement and the Servicing Agreement, the terms of this Agreement shall control. Whenever
used in this Agreement, the following terms shall have the respective meanings set forth below unless the context clearly requires otherwise.

“Acceptable Insurance
Default” shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loan or the Mortgaged Property
pursuant to the Note A-1 or the Note A-2 PSA.

“Affiliate”
shall mean, with respect to any specified Person, (a) any other Person controlling or controlled by or under common control with
such specified Person (each, a “Common Control Party”), (b) any other Person owning, directly or indirectly,
twenty-five percent (25%) or more of the beneficial interests in such Person or (c) any other Person in which such Person or a Common
Control Party owns, directly or indirectly, twenty-five percent (25%) or more of the beneficial interests. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by contract, relation to individuals or otherwise, and the
terms “controlling” and “controlled” have meanings correlative to the foregoing.

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

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

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

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

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

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

“CLO Asset Manager”
shall mean, with respect to any Securitization Vehicle that is a CLO, the entity that is responsible for managing or administering the
underlying assets of such

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Securitization Vehicle or, if applicable, the
assets of any Intervening Trust Vehicle (including, without limitation, the right to exercise any consent and control rights available
to the Directing Holder).

“Certificates”
shall mean any securities issued in connection with the Note A-1 Securitization or the Note A-2 Securitization.

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

“Collection Account”
shall mean the “collection account” or sub-account thereof, established under the Servicing Agreement for the purpose of servicing
the Mortgage Loan.

“Consultation
Termination Event” shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

“Control”
shall mean the ownership, directly or indirectly, in the aggregate of more than fifty percent (50%) of the beneficial ownership interests
of an entity and the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of
an entity, whether through the ability to exercise voting power, by contract or otherwise. The terms “controlled by,” “controlling”
and “under common control with” shall have the respective correlative meaning thereto.

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

“Defaulted Mortgage
Loan” shall mean the Mortgage Loan in the event that the Mortgage Loan is delinquent at least 60 days in respect of its
Monthly Payments or more than 60 days in respect of its balloon payment, in either case to be determined without giving effect to
any grace period permitted by the Mortgage Loan Documents and without regard to any acceleration of payments under the Mortgage Loan Documents.

“Depositor”
shall mean (i) with respect to the Note A-1 Securitization, the depositor under the Note A-1 PSA, and (ii) with respect to the Note
A-2 Securitization, the depositor under the Note A-2 PSA.

“Designated Holder”
shall mean the Holder of Note A-1.

“Directing Holder”
shall mean the Note A-1 Holder or, if Note A-1 is included in a Securitization, the holders of the Note A-1 Securitization Certificates
representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed
representative of the holders of such Certificates or such other party that the Note A-1 Holder grants the right to exercise the rights
granted to the Directing Holder in this Agreement; provided, that no Borrower Party shall be entitled to act as Directing Holder.

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

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“Excluded Amounts”
shall mean:

(i)       proceeds,
awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Borrower in accordance with
the terms of the Mortgage Loan Documents;

(ii)       amounts
required to be deposited in reserve or escrow pursuant to the Mortgage Loan Documents; and

(iii)       amounts
that are then due and payable pursuant to the Servicing Agreement to the parties to the Servicing Agreement, including, without limitation,
Servicing Fees, Special Servicing Fees, Liquidation Fees, Workout Fees, as applicable, reimbursement of costs and expenses, reimbursement
of Property Advances and interest thereon at the Reimbursement Rate;

but shall not include (A) any amounts
received in respect of any P&I Advances (and interest thereon), (B) any Servicing Fees due to the Master Servicer in excess of
the Servicing Fee calculated at the “primary servicing fee rate” set forth in the Servicing Agreement and (C) any trustee
fees.

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

“Holder”
shall mean the Note A-1 Holder and/or the Note A-2 Holder, as the context indicates.

“Intervening
Trust Vehicle” shall mean, with respect to any Securitization Vehicle that is a CLO, a trust vehicle or entity which holds
Note A-1 or Note A-2 as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as collateral
for the CLO.

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

“Lead Note”
shall mean (a) from and after the Securitization of Note A-2, if a Securitization of Note A-1 has not occurred, Note A-2 or such portion
thereof contributed to a Securitization, and (b) on and after the Securitization of Note A-1, Note A-1.

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

“Lead Securitization”
shall mean the Securitization in which the Lead Note is deposited.

“Lead Securitization PSA”
shall mean the PSA of the Lead Securitization.

“Lead Securitization
Trust” shall mean the trust established under the Lead Securitization PSA.

“Lead Servicer”
shall mean the master servicer designated under the Lead Securitization PSA.

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“Liquidation
Proceeds” shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

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

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

“Major Action”
shall have the meaning assigned to the term “Material Action,” “Major Action,” “Major Decision” or
any equivalent term in the Servicing Agreement.

“Master Servicer”
shall mean the master servicer under the Servicing Agreement and any successor thereunder.

“Master Servicer
Remittance Date” shall mean:

(i)       with
respect to Note A-1, the first Business Day after the “determination date,” as such term or a similar term is defined in the
Lead Securitization PSA; and

(ii)       with
respect to Note A-2, the first Business Day after the “determination date,” as such term or a similar term is defined in the
Lead Securitization PSA (or, from and after the Note A-2 Securitization Date, the Note A-2 PSA).

“Maturity Date”
shall have the meaning assigned to such term in Exhibit A.

“Monthly Payment”
with respect to any period shall mean all amounts due and payable to any Holder or Holders during such period in accordance with the Mortgage
Loan Documents.

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

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

“Mortgage Interest
Rate” shall mean the Mortgage Interest Rate set forth in the Mortgage Loan Schedule with respect to each of Note A-1 and
Note A-2.

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

“Mortgage Loan
Documents” shall mean the Mortgage, the Loan Agreement, the Notes, and all other documents evidencing or securing the Mortgage
Loan.

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

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

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

“Non-Directing
Holder” shall mean the Note A-2 Holder or, if the applicable Note is included in a Securitization, holders of Certificates
representing the specified interest in the class of Certificates designated as the “controlling class” or the duly appointed
representative of the holders of such Certificates or such other party otherwise entitled under the Note A-2 PSA to exercise the rights
granted to the Non-Directing Holders in this Agreement.

“Non-Lead Master
Servicer” shall mean, with respect to any Non-Lead Note, the master servicer under the related PSA.

“Non-Lead Note”
shall mean each of the Notes other than the Lead Note.

“Non-Lead Note
Holders” shall mean the holders of the Non-Lead Notes.

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

“Non-Lead Servicing
Agreements” shall mean the PSAs with respect to the Non-Lead Notes.

“Nonrecoverable
Advance” shall have the meaning ascribed to such term in the Servicing Agreement.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

“P&I Advance”
shall mean an advance made by a party to the Note A-1 PSA or the Note A-2 PSA, as applicable, with respect to a delinquent monthly debt
service payment on the Notes included in the related Securitization.

“Penalty Charges”
shall mean any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest,
but excluding any yield maintenance charge or prepayment premium.

“Permitted Fund
Manager” shall mean any Person (a) listed on Exhibit C attached hereto or (b) that on the date of
determination is (i) a Qualified Transferee or any other nationally-recognized manager of investment funds investing in debt or equity
interests relating to commercial real estate, (ii) investing through one or more funds with committed capital of at least $250,000,000
and (iii) not subject to a proceeding, whether voluntary or involuntary, relating to the bankruptcy, insolvency, reorganization or
relief of debtors.

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

“Property Advance”
shall mean an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security
for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

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“Pro Rata and
Pari Passu Basis” shall mean with respect to the Notes and each Holder, (i) for purposes of allocating payments of interest
among the Notes, each Note or Holder, as the case may be, is allocated its respective pro rata share based on the interest accrued on
such Note at the respective Interest Rate of such Note based on the outstanding principal balance of such Note and (ii) for all other
purposes, the allocation of any particular payment, collection, cost, expense, liability or other amount between such Notes or such Holders,
as the case may be, without any priority of any such Note or any such Holder over another Note or Holder, as the case may be, and in any
event such that each Note or Holder, as the case may be, is allocated its respective pro rata share based on the principal balance of
its Note in relation to the principal balance of the entire Mortgage Loan of such particular payment, collection, cost, expense, liability
or other amount.

“PSA”
means any of the Note A-1 PSA or the Note A-2 PSA.

“Qualified Servicer”
shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,” in the case of a special
servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the S&P Select Servicer List as
a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, (3) as to which neither
Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor in any qualification, downgrade or
withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities
in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by such servicer prior to the time of determination,
and (4) in the case of DBRS Morningstar, such servicer
is then acting as servicer or special servicer, as applicable, in a commercial mortgage loan securitization rated by DBRS Morningstar
and DBRS Morningstar has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed
any class of commercial mortgage securities on watch citing the continuation of such servicer as servicer or special servicer, as applicable,
of such commercial mortgage securities as a material reason for such downgrade or withdrawal.  For purposes of this definition,
for so long as any Note is included in a Securitization, the ratings or actions of any Rating Agency that is not rating any such Securitization(s)
shall not be considered.

“Qualified Transferee”
shall mean an Affiliate of the initial Note A-1 Holder or the initial Note A-2 Holder or one or more of the following (other than a Borrower
or any entity which is an Affiliate of a Borrower):

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

(ii)       an
investment company, money management firm or a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended, which regularly engages in the business of making or owning investments of types similar to the Mortgage Loan;
or

(iii)       an
institution substantially similar to any of the foregoing entities described in clauses (i) or (ii) above; or

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(iv)       any
entity Controlled by or under common Control or Controlling any of the entities described in clauses (i), (ii) or (iii) above; or

(v)       a
Qualified Trustee (or, in the case of a CLO, a single purpose bankruptcy-remote entity that contemporaneously pledges its interest
in a Note to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation of collateralized loan obligations
(“CLO”) secured by, or (C) a financing through an “owner trust” of, any interest in a Note
(any of the foregoing, a “Securitization Vehicle”), provided that either (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by at least two of the Rating Agencies
that also assigned a rating to one or more classes of securities issued in connection with the Securitization of a Note; (2) the special
servicer for the Securitization Vehicle is a Qualified Servicer at the time of transfer; or (3) in the case of a Securitization Vehicle
that is a CLO, the CLO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CLO
Asset Manager that is a Qualified Transferee, is a Qualified Transferee under clause (i), (ii), (iii) or (iv) of this definition;
or

(vi)       an
investment fund, limited liability company, limited partnership or general partnership in which a Permitted Fund Manager acts as the general
partner, managing member, or the fund manager responsible for the day to day management and operation of such investment vehicle, provided
that greater than fifty percent (50%) of the equity interests in such investment vehicle are owned, directly or indirectly, by one or
more entities that are otherwise Qualified Transferees,

which, in the case of each of clauses (i),
(ii), and (iii) of this definition, has at least $650,000,000 in total assets (in name or under management) and (except with respect to
a pension advisory firm or similar fiduciary) at least $250,000,000 in capital/statutory surplus or shareholders’ equity, and is
regularly engaged in the business of making or owning commercial real estate loans or commercial loans similar to the Mortgage Loan.

“Qualified Trustee”
shall mean (i) a corporation, national bank, national banking association or a trust company, organized and doing business under
the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the
trust conferred, having a combined capital and surplus of at least $100,000,000 and subject to supervision or examination by federal or
state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term
senior unsecured debt is then rated in one of the top two rating categories of each of the Rating Agencies.

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

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or “Rating Agency”
shall mean only those rating agencies that are engaged by the applicable Depositor from time to time to rate the securities issued in
connection with such Securitization.

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

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

“Reimbursement
Rate” shall have the meaning assigned to such term or the term “Advance Rate” or an analogous term in the Servicing
Agreement.

“REMIC”
shall have the meaning assigned to such term in Section 2(f).

“REO Property”
shall mean the Mortgaged Property, title to which has been acquired by the Servicer on behalf of (or other Person designated by) the Holders
through foreclosure, deed in lieu of foreclosure or otherwise.

“Reporting Article”
shall mean, with respect to any PSA, the article of such PSA that relates to reporting under the Securities Exchange Act of 1934, as amended,
and Regulation AB.

“S&P”
shall mean S&P Global Ratings, and its successors in interest.

“Securitization”
shall mean the Note A-1 Securitization and/or the Note A-2 Securitization, as applicable.

“Servicer”
shall mean (i) the Master Servicer with respect to a non-Specially Serviced Mortgage Loan and the Special Servicer with respect to
a Specially Serviced Mortgage

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Loan, or (ii) with respect to a specific
function, right or obligation as to which the Servicing Agreement designates the Master Servicer or the Special Servicer, the party so
designated, as applicable, pursuant to the Servicing Agreement.

“Servicing Agreement”
shall mean the Lead Securitization PSA. In the event the Lead Note is no longer an asset of the trust fund created pursuant to the Lead
Securitization PSA, the term “Servicing Agreement” shall refer to the subsequent servicing agreement entered into pursuant
to Section 2.

“Servicing Fee”
shall mean the fee of the Master Servicer pursuant to the terms of the Servicing Agreement, which will generally be calculated as the
product of (i) the Servicing Fee Rate and (ii) the outstanding principal balance of the Mortgage Loan as of the date of determination.

“Servicing Fee
Rate” shall have the meaning applied to such term in the Servicing Agreement, being the rate per annum which, when applied
to the Mortgage Loan Principal Balance (which may be a different rate with respect to each of the Notes), will determine the servicing
fee payable to the Master Servicer under the Servicing Agreement.

“Servicing Standard”
shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

“Servicing Transfer
Event” shall mean any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is
required to be transferred to the Special Servicer from the Master Servicer.

“Special Servicer”
shall mean the special servicer of the Mortgage Loan as appointed under the terms of this Agreement and the Servicing Agreement, or any
successor special servicer appointed as provided thereunder and hereunder.

“Special Servicing
Fee” shall have the meaning given to such term in the Servicing Agreement.

“Specially Serviced
Mortgage Loan” shall mean the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing
Transfer Event.

“Transfer”
shall mean any assignment, pledge, conveyance, sale, transfer, mortgage, encumbrance, grant of a security interest, issuance of a participation
interest, or other disposition, either directly or indirectly, by operation of law or otherwise.

“Trustee”
shall mean the trustee under the Note A-1 PSA or the Note A-2 PSA, as the context requires.

2.   Servicing of the Mortgage
Loan. (a)  Each Holder acknowledges and agrees that, subject in each case to the specific terms of this Agreement, the Mortgage
Loan shall be serviced by the Master Servicer and the Special Servicer under the Servicing Agreement in

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effect at any given time. Each holder agrees
to reasonably cooperate with each Servicer with respect to its exercise of its rights and obligations under the Servicing Agreement.

(b)       Subject
to the terms and conditions of this Agreement, each Holder hereby irrevocably and unconditionally consents to the appointment of the Master
Servicer and the Trustee under the Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Directing Holder
and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan
in accordance with the Servicing Agreement. Each Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee under
the Servicing Agreement as such Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration
and servicing of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all times to the rights of the Holders as set
forth herein and in such Servicing Agreement).

(c)       If,
at any time the Lead Note is no longer in a Securitization, the Designated Holder shall cause the Mortgage Loan to be serviced by a Qualified
Servicer pursuant to a servicing agreement that is substantially similar to the Servicing Agreement (provided that, if any Non-Lead
Note is in a Securitization, a Rating Agency Confirmation with respect to such servicing agreement shall be obtained from the Rating Agencies
that were engaged by the Depositor to rate such Securitization) and all references herein to the “Servicing Agreement”
shall mean such subsequent Servicing Agreement; provided, however, that until a replacement Servicing Agreement has been entered into
(and such Rating Agency Confirmation has been obtained), the Designated Holder shall cause the Mortgage Loan to be serviced pursuant to
the provisions of the Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage Loan; provided,
further, however, that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage Loan may be performed
by any Qualified Servicer appointed by the Designated Holder and does not have to be performed by the service providers set forth under
the Servicing Agreement that was previously in effect.

(d)       Notwithstanding
anything to the contrary contained herein (including Sections 4 and 13(a)), each Servicing Agreement
shall provide that the Servicer shall be required to service and administer the Mortgage Loan in accordance with the Servicing Standard
as set forth in such Servicing Agreement, and any Holder who is not a Borrower or an Affiliate of a Borrower shall be deemed a third-party
beneficiary of such provisions of the Servicing Agreement. It is understood that any Non-Lead Note Holder may separately appoint a servicer
for its Non-Lead Note, by itself or together with other assets, but any such servicer will have no responsibility hereunder and shall
be compensated solely by the applicable Non-Lead Note Holder from funds payable to it hereunder or otherwise.

(e)       The
Holders acknowledge that the Servicer is to comply with this Agreement and the Mortgage Loan Documents in connection with the servicing
of the Mortgage Loan.

(f)       If
any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage Loan
shall be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage” within

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

(g)       In
the event that one of the Notes is included in a REMIC, the other Holders shall not be required to reimburse such Holder or any other
Person for payment of any taxes imposed on such REMIC or Advances therefor or for any interest on such Advance or for deficits in other
items of disbursement or income resulting from the use of funds for payment of any such taxes, nor shall any disbursement or payment otherwise
distributable to the other Holders be reduced to offset or make-up any such payment or deficit.

3.   Priority of Notes.
Note A-1 and Note A-2 shall be of equal priority, and no portion of any of Note A-1 or Note A-2 shall have priority or preference over
any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise
available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds,
proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard
or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent
domain shall be distributed by the Master Servicer and applied to Note A-1 and Note A-2 on a Pro Rata and Pari Passu Basis.

The Servicing Agreement may
provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the
Trustee or the Special Servicer for interest accrued on any Property Advances, (ii) to pay the parties to any Securitization for
interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to
pay to the Master Servicer and/or the Special Servicer as additional servicing compensation.

4.   Workout. Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and Section 13 of this
Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead Note Holder, or any Servicer, in connection
with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof such that (i) the Mortgage Loan Principal Balance
is decreased, (ii) the Mortgage Interest Rate is reduced, (iii) payments of interest or principal on Note A-1 or Note A-2 are
waived, reduced or deferred or (iv) any other adjustment is made to any of the payment terms of the

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Mortgage Loan, such modification shall not
alter, and any modification of the Mortgage Loan Documents shall be structured to preserve, the equal priorities of Note A-1 and Note
A-2 as described in Section 3.

5.   Accounts; Payment Procedure.
The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts,
as applicable. Each of the Note A-1 Holder and the Note A-2 Holder hereby directs the Master Servicer, in accordance with the priorities
set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable
Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan
and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments
received with respect to and allocable to Note A-1 and Note A-2 by wire transfer to accounts maintained by the Note A-1 Holder and the
Note A-2 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer
Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement.

If any Servicer holding or
having distributed any amount received or collected in respect of Note A-1 or Note A-2 determines, or a court of competent jurisdiction
orders, at any time that any amount received or collected in respect of Note A-1 or Note A-2 must, pursuant to any insolvency, bankruptcy,
fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2 Holder or any
Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute
any portion thereof to the Note A-1 Holder or the Note A-2 Holder, as applicable, and the Note A-1 Holder or the Note A-2 Holder, as applicable,
shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder
or the Note A-2 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required
to pay to the Borrower, the Note A-1 Holder or the Note A-2 Holder, any Servicer or such other person or entity with respect thereto.
Each of the Note A-1 Holder and the Note A-2 Holder agrees that if at any time it shall receive from any sources whatsoever any payment
on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer.
The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder or the Note A-2 Holder, as applicable,
with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder or the Note A-2 Holder, as applicable, under
the Mortgage Loan, provided, that the obligations of the Note A-1 Holder and the Note A-2 Holder under this Section 5
are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against
any other Holder. The obligations of the Note A-1 Holder, and the Note A-2 Holder under this Section 5 constitute absolute,
unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.

6.   Limitation on Liability.
Subject to the terms of the Servicing Agreement, no Holder (including the Master Servicer or the Special Servicer on its behalf) shall
have any liability to any other Holder with respect to any Note, except (1) with respect to the Advance reimbursement provisions
set forth in Section 17 and (2) with respect to losses actually suffered due to the gross negligence, willful
misconduct or material breach of this Agreement on the part

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of such Holder (including the Master Servicer
or the Special Servicer on its behalf, except that the Master Servicer’s or Special Servicer’s liability may be further limited
or expanded as set forth in the Servicing Agreement).

7.   Representations of the
Holders. (a)  Each of the initial Holders hereby represents and warrants to, and covenants with each other Holder that,
as of the date hereof:

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

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

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

(iv)       This
Agreement is the legal, valid and binding obligation of such Holder enforceable against such Holder in accordance with its terms, except
as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement
of creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law), and except that the enforcement of rights with respect to indemnification and contribution obligations
may be limited by applicable law.

(v)       It
has the right to enter into this Agreement without the consent of any third party.

(vi)       It
is the holder of the respective Note for its own account in the ordinary course of its business.

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

(viii)       It
is a Qualified Transferee.

8.   Independent Analyses
of each Holder. Each Holder acknowledges that, except for the representations made in Section 7, it has, independently
and without reliance upon any other Holders and based on such documents and information as such Holder has deemed appropriate, made its
own credit analysis and decision to purchase its respective Note. Each

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Holder hereby acknowledges that the other
Holders shall have no responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability or legal
effect of any of the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished in connection
with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be created
by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. Each Holder assumes all risk of loss in connection
with its respective Note for reasons other than gross negligence, willful misconduct or breach of this Agreement by any other Holder or
negligence, willful misconduct or bad faith by any Servicer, subject to the terms of the Servicing Agreement.

9.   No Creation of a Partnership
or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto, shall be deemed to constitute
among any Holder (or the Master Servicer, Special Servicer or Trustee on its behalf) and any other Holder a partnership, association,
joint venture or other entity. Each Holder (or the Master Servicer, Special Servicer or Trustee on its behalf) shall have no obligation
whatsoever to offer to the other Holders the opportunity to purchase notes or interests relating to any future loans originated by such
Holder or any of its Affiliates, and if any Holder chooses to offer to any of the other Holders, the opportunity to purchase notes or
interests in any future mortgage loans originated by such Holder or its Affiliates, such offer shall be at such purchase price and interest
rate as such Holder chooses, in its sole and absolute discretion. None of the Holders shall have any obligation whatsoever to purchase
from any other Holder any notes or interests in any future loans originated by any other Holder or any of its Affiliates.

10.   Not a Security.
None of Note A-1 or Note A-2 shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities Exchange
Act of 1934.

11.   Other Business Activities
of the Holders. Each Holder acknowledges that the other Holders may make loans or otherwise extend credit to, and generally engage
in any kind of business with, any Affiliate of any Borrower, and receive payments on such other loans or extensions of credit to any Affiliate
of any Borrower and otherwise act with respect thereto freely and without accountability, but only if none of the foregoing violate the
Mortgage Loan Documents, in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

12.   Transfer of Notes.
(a)  Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its Note whether or not the related
transferee is a Qualified Transferee without a Rating Agency Confirmation. Each Holder shall not Transfer more than 49% (in the aggregate)
of its beneficial interest in its Note unless (i) prior to a Securitization of any Note, the other Holder has consented to such Transfer,
in which case the related transferee shall thereafter be deemed to be a “Qualified Transferee” for all purposes under this
Agreement, (ii) after a Securitization of any Note, a Rating Agency Confirmation has been received with respect to such Transfer,
in which case the related transferee shall thereafter be deemed to be a “Qualified Transferee” for all purposes under this
Agreement, (iii) such Transfer is to a Qualified Transferee or (iv) such Transfer is in connection with a sale by a Securitization
Trust; provided that if such Transfer is a Transfer of the Lead Note, such Transfer is to a Qualified Transferee.

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Any such transferee must assume in writing
the obligations of the transferring Holder hereunder and agree to be bound by the terms and provisions of this Agreement and the Servicing
Agreement. Such proposed transferee (except in the case of Transfers that are made in connection with a Securitization) shall also remake
each of the representations and warranties contained herein for the benefit of the other Holder. Notwithstanding the foregoing, without
the non-transferring Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring Holder’s
Note is in a Securitization, without a Rating Agency Confirmation from each Rating Agency that has been engaged by the Depositor to rate
the securities issued in connection with such Securitization, no Holder shall Transfer all or any portion of its Note to a Borrower or
an Affiliate of a Borrower and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.
None of the provisions of this Section 12(a) shall apply in the case of a sale of Note A-1 together with Note A-2, in accordance
with the terms and conditions of the Lead Securitization PSA.

(b)       Except
for a Transfer made in connection with a Securitization, or a Transfer made by an initial Holder to an Affiliate, at least five (5) days
prior to a transfer of any Note, the transferring Holder shall provide to the other Holders and, if any Certificates are outstanding,
to the Rating Agencies, a certification that such transfer will be made in accordance with this Section 12, such certification
to include (1) the name and contact information of the transferee and (2) if applicable, a certification by the transferee that
it is a Qualified Transferee.

(c)       The
Holders acknowledge that any Rating Agency Confirmation may be granted or denied by the Rating Agencies in their sole and absolute discretion
and that such Rating Agencies may charge the transferring Holder customary fees in connection with providing such Rating Agency Confirmation.

(d)       Notwithstanding
anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”) its Note to any entity
(other than a Borrower or any Affiliate of a Borrower) that has extended a credit facility to such Holder or has entered into a repurchase
agreement with such Holder and that, in each case, is either a Qualified Transferee or a financial institution whose long-term unsecured
debt is rated at least “A” (or the equivalent) or better by each Rating Agency (a “Note Pledgee”),
or to a Person with respect to which a Rating Agency Confirmation has been obtained, on terms and conditions set forth in this Section 12(d),
it being further agreed that a financing provided by a Note Pledgee to any Holder or any Affiliate that controls such Holder that is secured
by such Holder’s interest in its respective Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder on the condition that all applicable terms and conditions of this Section 12 are complied with. A Note Pledgee that
is not a Qualified Transferee may not take title to a Note without a Rating Agency Confirmation. Upon written notice, if any, by the pledging
Holder to the other Holders and the Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee),
the other Holders agree to acknowledge receipt of such notice and thereafter agree: (i) to give such Note Pledgee written notice
of any default by the pledging Holder in respect of its obligations under this Agreement of which default such Holder has actual knowledge
and which notice shall be given simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Note Pledgee
a period of ten (10) Business Days to cure a default by the pledging Holder in respect of its obligations to the other Holders hereunder,
but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification,

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waiver or termination of this Agreement
or the Servicing Agreement (if the pledging Holder had the right to consent to such amendment, modification, waiver or termination pursuant
to the terms hereof) shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall
not be unreasonably withheld, conditioned or delayed and which consent shall be deemed to be given if Note Pledgee shall fail to respond
to any request for consent to any such amendment, modification, waiver or termination within 10 days after request therefor; (iv) that
the other Holders shall accept any cure by such Note Pledgee of any default of the pledging Holder which such pledging Holder has the
right to effect hereunder, as if such cure were made by such pledging Holder; (v) that the other Holders or Servicer shall deliver
to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be
in a form reasonably satisfactory to the other Holders; and (vi) that, upon written notice (a “Redirection Notice”)
to the Servicer by such Note Pledgee that the pledging Holder is in default beyond any applicable cure periods with respect to the pledging
Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement or other agreements relating to the Pledge
between the pledging Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Holder), and until
such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee (or at any time that pledging Holder otherwise directs
that such payment be made to Note Pledgee pursuant to a separate notice) shall be entitled to receive any payments that any Servicer would
otherwise be obligated to make to the pledging Holder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging
Holder hereby unconditionally and absolutely releases the other Holders and any Servicer from any liability to the pledging Holder on
account of any Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or other Holders in
good faith to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against
the pledging Holder (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law, the pledge
agreement, repurchase agreement or similar agreement between the pledging Holder and the Note Pledgee and this Agreement. In such event,
or if the pledging holder otherwise assigns its interests to the Note Pledgee, the other Holders and the Servicer shall recognize such
Note Pledgee (and any transferee (other than a Borrower or any Affiliate of a Borrower) that is also a Qualified Transferee at any foreclosure
or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and such Person’s successor and assigns, as the
successor to the pledging Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified
Transferee shall assume in writing the obligations of the pledging Holder hereunder accruing from and after such Transfer (i.e.,
realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights
of a Note Pledgee under this Section 12(d) shall remain effective as to any Holder (and any Servicer) unless and until such
Note Pledgee shall have notified such Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

13.   Exercise of Remedies
by the Servicer. (a)  Subject to the terms of this Agreement and the Servicing Agreement and subject to the rights and consents,
where required, of the Directing Holder, the Servicer shall have the sole and exclusive authority with respect to the administration of,
and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole and exclusive authority
to (i) modify or waive any of the terms of the Mortgage Loan Documents, (ii) consent to any action or failure to act by the
Borrower

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or any party to the Mortgage Loan Documents,
(iii) vote all claims with respect to the Mortgage Loan in any bankruptcy, insolvency or other similar proceedings and (iv) to
take legal action to enforce or protect the Holders’ interests with respect to the Mortgage Loan or to refrain from exercising any
powers or rights under the Mortgage Loan Documents, including the right at any time to call or waive any Events of Default, or accelerate
or refrain from accelerating the Mortgage Loan or institute any foreclosure action, and the Holders shall have no voting, consent or other
rights whatsoever with respect to the Servicer’s administration of, or exercise of its rights and remedies with respect to, the
Mortgage Loan other than as provided in the Servicing Agreement. Subject to the terms and conditions of the Servicing Agreement, the Servicer
shall have the sole and exclusive authority to make Property Advances with respect to the Mortgage Loan. Except as otherwise provided
in this Agreement, each Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the
Servicer the rights, if any, that such Holder has to (A) call or cause the Servicer to call an Event of Default under the Mortgage
Loan, or (B) exercise any remedies with respect to the Mortgage Loan or the Borrower, including, without limitation, filing or causing
the Lead Note Holder or such Servicer to file any bankruptcy petition against the Borrower. Each Holder shall, from time to time, execute
such documents as any Servicer shall reasonably require to evidence such assignment with respect to the rights described in clause (iii)
of the first sentence in this Section 13(a).

(b)       The
Lead Servicer and the related Trustee shall not have any fiduciary duty to the Non-Lead Note Holders in connection with the administration
of the Mortgage Loan (but the foregoing shall not relieve the Lead Servicer and the related Trustee from their respective obligation under
the Servicing Agreement to make any disbursement of funds as set forth herein).

(c)       The
Holders hereby acknowledge and agree that the Servicing Agreement shall provide that, subject to the satisfaction of the conditions set
forth in the next sentence, upon the Mortgage Loan becoming a Defaulted Mortgage Loan, if the Special Servicer determines to sell the
Defaulted Mortgage Loan (or the Lead Note), it will be required to sell the entire Defaulted Mortgage Loan as a single whole loan (i.e.,
both the Lead Note and Non-Lead Note). Any such sale of the entire Defaulted Mortgage Loan is subject to the satisfaction of the following:

(i)       Each
Non-Directing Holder has provided written consent to such sale (to the extent the related Note with respect to the Non-Directing Holder
is not included in the same Securitization as the related Note with respect to the Directing Holder); or

(ii)       The
Special Servicer has delivered the following notices and information to each Non-Directing Holder (to the extent the related Note with
respect to the Non-Directing Holder is not included in the same Securitization as the Note with respect to the Directing Holder):

(1)       at
least 15 Business Days prior written notice of any decision to attempt to sell the Defaulted Mortgage Loan;

(2)       at
least 10 days prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received
by the Special Servicer in connection with any such proposed sale;

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(3)       at
least 10 days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in the Servicing
File requested by a Non-Lead Note Holder; and

(4)       until
the sale is completed and a reasonable period of time (but no less time than is afforded to other offerors and the Directing Holder) prior
to the proposed sale date, all information and other documents being provided to other offerors and all leases or other documents that
are approved by the Master Servicer or the Special Servicer in connection with the proposed sale.

Any Non-Directing Holder
may waive any delivery or timing requirements set forth above only for itself. Subject to the foregoing, each of the Lead Note Holder,
the Directing Holder, the Non-Lead Note Holders (to the extent the related Non-Lead Note is not included in the Lead Securitization) and
the Non-Directing Holders shall be permitted to submit an offer at any sale of the Defaulted Mortgage Loan (unless such Person is a Borrower
or an agent or Affiliate of a Borrower).

The Non-Lead Note Holders
(to the extent it is not the same entity as the Lead Note Holder) hereby appoint the Lead Note Holder as their agent, and grant to the
Lead Note Holder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting
offers for and consummating the sale of the Non-Lead Notes. Each Non-Lead Note Holder further agrees that, upon the request of the Lead
Note Holder, such Non-Lead Note Holder shall execute and deliver to or at the direction of Lead Note Holder such powers of attorney or
other instruments as the Lead Note Holder may reasonably request to better assure and evidence the foregoing appointment and grant, in
each case promptly following such request, and shall deliver the related original Non-Lead Note, endorsed in blank, to or at the direction
of the Lead Note Holder in connection with the consummation of any such sale.

(d)       Notwithstanding
anything to the contrary contained herein, the exercise by the Servicer on behalf of the Holders of its rights under this Section 13
shall be subject in all respects to any section of the Servicing Agreement governing REMIC administration, and in no event shall the Servicer
be permitted to take any action or refrain from taking any action if taking or failing to take such action, as the case may be, would
violate the laws of any applicable jurisdiction, breach the Mortgage Loan Documents or be inconsistent with the Servicing Standard or
violate any other provisions of the Servicing Agreement or violate the REMIC provisions of the Code or any regulations promulgated thereunder,
including, without limitation, the provisions of Section 2(f) of this Agreement.

14.   Rights of the Directing
Holder. (a) The Directing Holder shall be entitled to exercise the rights and powers granted to the Directing Holder hereunder and
the rights and powers granted to the “Directing Holder,” “Controlling Class Certificateholder,” “Controlling
Class Representative” or similar party under, and as defined in, the Servicing Agreement with respect to the Mortgage Loan. In addition,
the Directing Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to a Specially Serviced
Mortgage Loan and (2) the Special Servicer with respect to all matters for which the Master Servicer must obtain the consent or deemed
consent of the Special Servicer, and, except as set forth below (i) the Master

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Servicer shall not be permitted to take any
Major Action unless it has obtained the prior written consent of the Special Servicer and (ii) the Special Servicer shall not be
permitted to consent to the Master Servicer’s taking any Major Action nor will the Special Servicer itself be permitted to take
any Major Action as to which the Directing Holder has objected in writing within ten (10) Business Days (or 30 days with respect to an
Acceptable Insurance Default) after receipt of the written recommendation and analysis and such additional information requested by the
Directing Holder as may be necessary in the reasonable judgment of the Directing Holder in order to make a judgment with respect to such
Major Action. The Directing Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions with respect
to the Mortgage Loan as the Directing Holder may deem advisable, subject to the terms of the Servicing Agreement.

(b)       If
the Directing Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Action within ten (10)
Business Days (or 30 days with respect to an Acceptable Insurance Default) after delivery to the Directing Holder by the applicable Servicer
of written notice of a proposed Major Action together with any information requested by the Directing Holder as may be necessary in the
reasonable judgment of the Directing Holder in order to make a judgment, then upon the expiration of such ten (10) Business Day (or 30
days with respect to an Acceptable Insurance Default) period, such Major Action shall be deemed to have been approved by the Directing
Holder.

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

(d)       No
objection, direction or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special Servicer,
as applicable, to violate any provision of the Mortgage Loan Documents, applicable law, the Servicing Agreement, this Agreement, the REMIC
provisions of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard
or expose the Master Servicer or the Special Servicer to liability, or materially expand the scope of the Master Servicer’s or the
Special Servicer’s responsibilities under the Servicing Agreement.

(e)       The
Directing Holder shall have no liability to the other Holders or any other Person for any action taken, or for refraining from the taking
of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or the Servicing Agreement, or
errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence.
The Holders agree that the Directing Holder may take or refrain from taking actions, or give or refrain from giving consents, that favor
the interests of one Holder over the other Holder, and that the Directing Holder may have special relationships and interests that conflict
with the interests of another Holder and, absent willful misfeasance, bad faith or gross negligence on the part of the Directing Holder
agree to take no action against the Directing Holder or any of its officers, directors, employees, principals or agents as a result of
such special relationships or interests, and that the Directing Holder will not be deemed to have been

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grossly negligent or reckless, or to have acted
in bad faith or engaged in willful misfeasance or to have recklessly disregarded any exercise of its rights by reason of its having acted
or refrained from acting, or having given any consent or having failed to give any consent, solely in the interests of any Holder.

15.   Appointment of Special
Servicer. Subject to the terms of the Servicing Agreement, the Directing Holder shall have the right at any time and from time to
time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a Qualified Servicer
as the replacement Special Servicer in lieu thereof. The Directing Holder shall designate a Person to serve as Special Servicer by delivering
to the other Holders and the parties to the Note A-1 PSA and the Note A-2 PSA a written notice stating such designation and by satisfying
the other conditions required under the Servicing Agreement (including, without limitation, a Rating Agency Confirmation, if required
by the terms of the Servicing Agreement), if any.

16.   Rights of the Non-Directing
Holders. (a) The Lead Securitization PSA shall provide that the Servicer shall be required:

(i)       to
provide copies of the same notices, information and reports that it is required to provide to the Directing Holder pursuant to the Servicing
Agreement with respect to any Major Actions or the implementation of any recommended actions outlined in an Asset Status Report relating
to the Mortgage Loan to the Non-Directing Holders (but without regard to whether or not the Directing Holder actually has lost any rights
to receive such information as a result of a Consultation Termination Event), within the same time frame as specified with respect to
the Directing Holder (but without regard to whether or not the Directing Holder actually has lost any rights to receive such information
as a result of a Consultation Termination Event), provided, however, that if Note A-2 has been included in a Securitization
transaction, then for any information for which the Special Servicer would be required to provide to such Non-Directing Holder, the Special
Servicer shall provide such notice to the master servicer of the other Securitization transaction, who shall forward such notice as and
when required under the terms of the related Securitization documents; and

(ii)       to
consult with each Non-Directing Holder on a strictly non-binding basis, if, having received such notices, information and reports, such
Non-Directing Holder requests consultation with respect to any such Major Action or the implementation of any recommended actions outlined
in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by such Non-Directing Holder; provided
that after the expiration of a period of ten (10) Business Days from the delivery to each Non-Directing Holder of written notice of a
proposed action, together with copies of the notice, information and report required to be provided to the Directing Holder, the Servicer
shall no longer be obligated to consult with the Non-Directing Holders, whether or not the Non-Directing Holders have responded within
such ten (10) Business Day period (unless the Servicer proposes a new course of action that is materially different from the action previously
proposed, in which case such ten (10) Business Day period shall be begin anew from the date of such proposal and delivery of all information
relating thereto).

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(b)       Notwithstanding
the foregoing non-binding consultation rights of the Non-Directing Holders, the Servicer may take any Major Action or any action set forth
in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Servicer determines that immediate
action with respect thereto is necessary to protect the interests of the Holders.

(c)       In
addition to the foregoing non-binding consultation rights, the Non-Directing Holders shall have the right to annual conference calls with
the Master Servicer or the Special Servicer upon reasonable notice and at times reasonably acceptable to the Master Servicer or the Special
Servicer, as applicable, in which servicing issues related to the Mortgage Loan are discussed.

(d)       In
no event shall the Servicer be obligated at any time to follow or take any alternative actions recommended by any of the Non-Directing
Holders.

(e)       Any
Non-Directing Holder that is a Borrower or an Affiliate of a Borrower shall not be entitled to any of the rights set forth in this Section
16.

17.   Advances; Reimbursement
of Advances. (a)  From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the
related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I
Advances with respect to the Lead Note and any other Note contributed to the Lead Securitization and (ii) pursuant to the terms of
a Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances
with respect to a Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect
to any Non-Lead Note (other than any Non-Lead Note contributed to the Lead Securitization) and the related Non-Lead Master Servicer and/or
the related Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property
Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner
and from the sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

(b)       The
Lead Servicer and the related Trustee, as applicable, will be entitled to reimbursement for a Property Advance, first from the
Collection Account established with respect to the Mortgage Loan, and then, if such Property Advance is a Nonrecoverable Advance,
if such funds on deposit in the Collection Account are insufficient, from general collections of the Lead Securitization as provided in
the Servicing Agreement.

(c)       To
the extent amounts on deposit in the Collection Account with respect to the Mortgage Loan are insufficient to reimburse the Lead Servicer
for any Property Advance and/or interest thereon and the Lead Servicer or the related Trustee, as applicable, obtains funds from general
collections of the Lead Securitization as a reimbursement for a Property Advance or interest thereon, each Non-Lead Note Holder of any
Non-Lead Note not deposited into the Lead Securitization (including any Securitization into which any Non-Lead Note is deposited) shall
be required to, promptly following notice from the Lead Servicer, pay to the Lead Securitization for its pro rata share of such
Property Advance and/or interest thereon at the Reimbursement Rate. In addition, each Non-Lead Note Holder of any Non-Lead Note not

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deposited into the Lead Securitization
(including any Securitization into which any Non-Lead Note is deposited) shall promptly reimburse the Lead Servicer or the related Trustee
for such Non-Lead Note Holder’s pro rata share of any fees, costs or expenses incurred in connection with the servicing and
administration of the Mortgage Loan as to which the Lead Securitization or any of the parties thereto are entitled to be reimbursed pursuant
to the terms of the Servicing Agreement (to the extent amounts on deposit in the Collection Account with respect to the Mortgage Loan
are insufficient for reimbursement of such amounts).

(d)       The
parties to each of Note A-1 PSA and the Note A-2 PSA shall each be entitled to make their own recoverability determination with respect
to a P&I Advance based on the information that they have on hand and in accordance with Note A-1 PSA, or the Note A-2 PSA, as applicable.

(e)       If
the Lead Servicer or the related Trustee elects to defer the reimbursement of a Property Advance in accordance with the terms of the Servicing
Agreement, the Lead Servicer or the related Trustee shall also defer its reimbursement of each Non-Lead Note share from the Non-Lead
Note Holders.

18.   Provisions Relating
to Securitization.

(a) New Notes. For so long
as LMF or an Affiliate of LMF or Citi or an Affiliate of Citi (an “Initial Note Holder”) is the owner of any
Notes, such Initial Note Holder shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute
amended and restated notes (“Amended Notes”) or additional notes (“New Notes”) reallocating
the principal of the Note or Notes that it owns (but in no case any Note that it does not then own) among Amended Notes and New Notes
or severing a Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding
principal balance of the Note or Notes being amended or created, provided that (i) the aggregate principal balance of the Amended
Notes and New Notes following such amendments is no greater than the principal balance of the Amended Notes and New Notes prior to such
amendments, (ii) all New Notes continue to have the same interest rate as the Amended Note of which it was a part prior to such amendments,
(iii) all New Notes pay pro rata and on a pari passu basis with the Amended Notes and such reallocated or component notes
shall be automatically subject to the terms of this Agreement and (iv) the Initial Note Holder holding the New Notes shall notify each
other Holder, as applicable, and, if any other Note has been included in a securitization, the parties under each applicable PSA, in writing
(which may be by email) of such modified allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer
is hereby authorized to execute amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this
Agreement) on behalf of any or all of the Holders solely for the purpose of reflecting such reallocation of principal or such severing
of a Note, (2) if a Note is severed into “component” notes, such component notes shall each have their same rights as the
respective original Note, (3) the definition of the term “Securitization” and all of the related defined terms may be amended
(and new terms added, as necessary) to reflect the New Notes and (4) if Note A-1 is severed into “component” notes, another
note (or one of the New Notes) held by Citi or an Affiliate of Citi may be substituted for Note A-1 in the definition of “Designated
Holder” and “Directing Holder” and the definitions of “Lead Note” and “Lead Securitization”
and “Non-

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Directing Holder” will be revised accordingly.
Neither Rating Agency Confirmation nor approval of the Directing Holder shall be required for any amendments to this Agreement required
to facilitate the terms of this Section 18(a). The Initial Note Holder whose Note is being reallocated or split pursuant
to this Section 18(a) shall reimburse the other Holders for all costs and expenses incurred by the other Holders in connection
with the reallocation or split.

(b)       The
Non-Lead Note Holder agrees that (unless the Non-Lead Note and the Lead Note are included in the same Securitization) it shall cause the
Non-Lead Servicing Agreement to provide as follows:

(i)       the
applicable master servicer or Trustee for such Securitization shall be required to notify the master servicer, special servicer and Trustee
of each other Securitization of the amount of any P&I Advance it has made with respect to the Note included in such Securitization
within two Business Days of making such advance;

(ii)       if
the applicable master servicer, special servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding P&I
Advance previously made, would be, or is, as applicable, a nonrecoverable advance, the master servicer shall provide the other servicers
written notice of such determination within 2 Business Days after such determination was made;

(iii)       in
the event such Non-Lead Note Holder is responsible for its proportionate share of any Nonrecoverable Advances (or any other portion of
a Nonrecoverable Advance) (and advance interest thereon) or other fee or expense pursuant to Section 17 and funds received with
respect to such Non-Lead Note are insufficient to cover such amounts, (x) the related master servicer will be required to pay the Master
Servicer, Special Servicer or Trustee under the Servicing Agreement, as applicable, out of general funds in the collection account (or
equivalent account) established under the related Non-Lead Servicing Agreement and (y) if the Servicing Agreement permits the Master Servicer,
Special Servicer or Trustee under the Servicing Agreement to pay itself from the Lead Securitization Trust’s general account then
the master servicer under the related Non-Lead Servicing Agreement will be required to reimburse the Lead Securitization Trust Fund out
of general funds in the collection account (or equivalent account) established under the related Non-Lead Servicing Agreement;

(iv)       each
of the Master Servicer and the Special Servicer shall be indemnified (as and to the same extent the Lead Securitization Trust is required
to indemnify each such party) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses, incurred in connection with any PSA that relate solely to its servicing of the Mortgage Loan,
as applicable, and the master servicer under the related Non-Lead Servicing Agreement will be required to reimburse the Master Servicer,
Special Servicer or Trustee under the Servicing Agreement, as applicable, out of general funds in the collection account (or equivalent
account) established under the related Non-Lead Servicing Agreement;

(v)       each
of Trustee and the master servicer under the Non-Lead Servicing Agreement, as applicable, shall acknowledge that, (i) each of the Master
Servicer and the

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Trustee under the Servicing Agreement
will be a third party beneficiary under the Non-Lead Servicing Agreement with respect to any provisions therein relating to (1) the reimbursement
of any nonrecoverable advances made with respect to such Non-Lead Note by the Master Servicer or the Trustee under the Servicing Agreement
and (2) as to the Master Servicer only, the indemnification of the Master Servicer against any claims, losses, penalties, fines, forfeitures,
legal fees and related costs, judgments and any other costs, liabilities, fees and expenses, incurred in connection with any PSA and relating
to such Non-Lead Note and (ii) the Special Servicer will be a third party beneficiary under the related Non-Lead Servicing Agreement with
respect to any provisions therein relating to (1) the reimbursement of any nonrecoverable advances made with respect to such Non-Lead
Note by the Special Servicer (it being understood that the Special Servicer is not required to make any Advances) and (2) the indemnification
of the Special Servicer against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other
costs, liabilities, fees and expenses, incurred in connection with any PSA and relating to such Non-Lead Note; and

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

(c)       Notice
to Parties to the Lead Securitization PSA. The Note A-2 Holder shall provide the Depositor, the Servicer and the Special Servicer under
the Lead Securitization PSA (as of the Note A-2 Securitization Date) (provided such party is not also a party to the Note A-2 PSA)
notice of the Note A-2 Securitization in writing (which may be by email) prior to or promptly following the Note A-2 Securitization Date.
Such notice shall contain contact information for each of the parties to the Note A-2 PSA and the identity of the Controlling Class Representative
under such Note A-2 PSA. In addition, after the Note A-2 Securitization Date, the Note A-2 Holder shall send a copy of the Note A-2 PSA
to the Depositor, the Servicer and the Special Servicer under the Lead Securitization PSA (as of the Note A-2 Securitization Date) (provided
such party is not also a party to the Note A-2 PSA).

(d)       The
Lead Securitization PSA shall:

(i)       provide
that the Master Servicer and Trustee for such Securitization shall be required to notify the servicer, special servicer and Trustee of
each other Securitization of the amount of any P&I Advance it has made with respect to the Note included in such Securitization within
two Business Days of making such advance;

(ii)       provide
that if the Master Servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding P&I Advance previously
made, would be, or is, as applicable, a nonrecoverable advance, the Master Servicer shall provide the other servicers written notice of
such determination within two Business Days after such determination was made;

(iii)       provide
that the Master Servicer shall remit all payments received (or advanced) with respect to any Non-Lead Note (other than any Non-Lead Note
deposited into the Lead Securitization as to which payments shall be applied as provided in the Servicing Agreement), net of its Servicing
Fee and any other applicable fees and

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reimbursements payable to the Master
Servicer, the Special Servicer and the Trustee, to the Non-Lead Holder on the applicable Master Servicer Remittance Date;

(iv)       provide
that the Master Servicer agrees to make available to each master servicer under a Non-Lead Servicing Agreement the CREFC®
Investor Reporting Package® pursuant to the terms of the Servicing Agreement on a monthly basis on the applicable Master
Servicer Remittance Date;

(v)       provide
that the Master Servicer, any primary servicer, the Special Servicer and the Trustee for the Lead Securitization, certificate administrator
or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other
servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver), to the parties to any Non-Lead Servicing Agreement, at its own expense, in a timely manner, the reports, certifications,
compliance statements, accountants’ assessments and attestations, information to be included in reports (including, without limitation,
Form ABS-15G, Form 10-K, Form 10-D, Form 8-K), notices, and other materials specified in each of the other Servicing Agreements as the
parties to each Non-Lead Securitization may require in order to comply with (1) their obligations under the Securities Act of 1933, as
amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, and any other applicable law and (2)
any applicable comment letter from the Securities and Exchange Commission or its obligations with respect to any deficient Exchange Act
receivable. Without limiting the generality of the foregoing, each Lead Note Holder for a Lead Securitization shall provide in a timely
manner to the depositor and the Trustee for any other Securitization a copy of the Lead Securitization PSA and each Lead Servicer (at
the expense of the Lead Note Holder) will be required to provide to the depositor and the Trustee for any other Securitization any other
information required to comply in a timely manner with applicable filing requirements under Items 1.01 and 6.02 of Form 8-K, any other
disclosure information required pursuant to Regulation AB in a timely manner for inclusion in any disclosure document (and, with respect
to the Servicing Agreement, for filing under Form 8-K), and with respect to the Lead Servicers, upon prior written request, market indemnification
agreements, opinions and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization. As used
in this Agreement, “Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§
 229.1100-229.1125, as such may be amended from time to time, and subject to such clarification and interpretation as have been
provided by the United States Securities and Exchange Commission (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. The Master Servicer, any primary servicer, the Special Servicer and each other applicable party to the Lead Servicing
Agreement shall each be required to provide certification and indemnification to each Certifying Person with respect to the Sarbanes-Oxley
Certification (or analogous terms) as such terms are defined in the related Non-Lead Servicing Agreements;

(vi)       each
of the Master Servicer, the Special Servicer, the custodian and the Trustee and each Affected Reporting Party (or analogous term) for
the Lead Securitization

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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
of each Non-Lead Securitization to the same extent as such party is required to cooperate with the Depositor of the Lead Securitization
under the Reporting Article of the Lead Securitization PSA in connection with the reporting requirements under the Securities Act of 1933,
as amended, the Securities Exchange Act of 1934, as amended, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder.
All respective reasonable out-of-pocket costs and expenses incurred by each Depositor of a Non-Lead Securitization (including reasonable
legal fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses related
to participation by such Depositor in any telephone conferences and meetings with the Commission and other costs such Depositor must bear
pursuant to the Reporting Article of the Lead Securitization PSA) and any amendments to any reports filed with the Commission therewith
shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice from such Depositor;

(vii)       provide
that the servicing duties of each of the Master Servicer and Special Servicer under the Servicing Agreement shall include the duty to
service each Non-Lead Note on behalf of the related Note Holder (including the related Trustees and related Certificate holders) in accordance
with the terms and provisions of this Agreement;

(viii)       provide
that, with respect to any/each Non-Lead Note (other than any Non-Lead Note deposited into the Lead Securitization as to which payments
shall be withdrawn and remitted as provided in the Servicing Agreement), the Master Servicer shall withdraw from the related Collection
Account and remit to the Holder of the Non-Lead Note, within one (1) Business Day of receipt of properly identified funds, any amounts
that represent late collections or principal prepayments on such Non-Lead Note or any successor REO Property with respect thereto (exclusive
of any portion of such amount payable or reimbursable to any third party in accordance with this Agreement), unless such amount would
otherwise be included in the monthly remittance to the Holder of such Non-Lead Note for such month; provided, however, that
to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially
reasonable efforts to remit such late collections or principal prepayments to the Non-Lead Master Servicer within one Business Day of
receipt of properly identified funds but, in any event, the Master Servicer shall remit such amounts within two Business Days of receipt
of properly identified funds;

(ix)       provide
that the Non-Lead Note Holders (other than any Non-Lead Note Holder which is a direct party to the Servicing Agreement) are intended third-party
beneficiaries in respect of the rights afforded it under the Servicing Agreement and each master servicer under a Non-Lead Servicing Agreement
will be entitled to enforce the rights of the related Trustee with respect to such Non-Lead Note under this Agreement and the Servicing
Agreement;

(x)       provide
that each master servicer and special servicer under any Non-Lead Servicing Agreement shall be a third-party beneficiary of the Servicing
Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or

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indemnification of such master servicer
or special servicer, as the case may be, and the provisions regarding coordination of Advances;

(xi)       provide
that it shall not be amended in a manner that materially and adversely affects the rights of the Non-Lead Note Holders (other than any
Non-Lead Note Holder which is a direct party to the Servicing Agreement) without their consent;

(xii)       satisfy
Moody’s rating methodology as of the Closing Date of the Lead Securitization related to permitted investments and eligible accounts
applicable to securities rated “Aaa” by Moody’s;

(xiii)       provide
that, in connection with (A) any amendment of the Servicing Agreement, a party to such Servicing Agreement is required to provide a copy
of the executed amendment to the depositor under each related Non-Lead Servicing Agreement and one or more parties to the related Non-Lead
Servicing Agreement (which may be by e-mail), together with a copy of such amendment in electronic format, no later than the effective
date of such amendment, and (B) the termination, resignation and/or replacement of the Master Servicer or Special Servicer under the Servicing
Agreement, the replacement “master servicer” or replacement “special servicer”, as applicable, is required to
provide to the depositor under each related Non-Lead Servicing Agreement and one or more parties to the related Non-Lead Servicing Agreement
all disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof;

(xiv)       provide
that “servicer termination events” (or any analogous term under the Servicing Agreement) include customary market termination
events with respect to failure to make advances, failure to remit payments to the Non-Lead Note Holders as required, failure to deliver
(or cause to be delivered) materials or information required in order for the Non-Lead Note Holders or the depositor under a related Non-Lead
Servicing Agreement to timely comply with its obligations under the Exchange Act, the Securities Act or Form SF-3, and for rating agency
triggers with respect to any Certificates, subject to customary grace periods (provided that, in the case of failures related to the securities
laws, such grace periods will not cause a depositor under a Non-Lead Servicing Agreement to fail to comply with the applicable provisions
of such securities laws). Upon the occurrence of such a servicer termination event with respect to the Master Servicer affecting the Non-Lead
Note Holder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization PSA, the Master Servicer shall be
required, upon the direction of the Non-Lead Note Holder, to appoint a subservicer with respect to the Non-Lead Note. Upon the occurrence
of a servicer termination event with respect to the Special Servicer affecting the Non-Lead Note Holder and the Special Servicer is not
otherwise terminated pursuant to the Lead Securitization PSA, the Trustee shall, upon direction of the Non-Lead Note Holder, terminate
the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

(xv)       provide
that if a Non-Lead Note becomes the subject of an “asset review” under a Non-Lead Servicing Agreement, the applicable parties
to the Servicing Agreement are required to reasonably cooperate with the related asset representations reviewer or other applicable party
to such Non-Lead Servicing Agreement in connection with such asset

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review, including with respect to providing access to related underlying documents to the extent the asset representations reviewer or
such other applicable party to the Non-Lead Servicing Agreement has not obtained such documents from the entity that was the Non-Lead
Note Holder prior to transfer of the Non-Lead Note to a Securitization and such documents are in the possession of the applicable party
to the Servicing Agreement;

(xvi)       provide
that the Non-Lead Note Holders shall be entitled to the same indemnity as the Lead Note Holder under the Lead Securitization PSA with
respect to the following items; each of the Master Servicer, the Special Servicer, the Trustee, the certificate administrator, the operating
advisor, and the custodian shall be required to indemnify each certifying person and the Depositor under any Non-Lead Servicing Agreement,
and their respective directors and officers and controlling persons, to the same extent that they indemnify the Depositor of the Lead
Securitization (in its capacity as such) and each certifying person for (i) its failure to deliver the items in clauses (v) and (xii)
above in a timely manner, (ii) its failure to perform its obligations to such Depositor of a Non-Lead Securitization or Trustee of a Non-Lead
Securitization under the Reporting Article (or any article substantially similar thereto) of the Lead Securitization PSA by the time required
after giving effect to any applicable grace period or cure period, (iii) the failure of any servicer or servicing function participant
retained by it to perform its obligations to such Depositor of a Non-Lead Securitization or Trustee of a Non-Lead Securitization under
such the Reporting Article (or any article substantially similar thereto) of the Lead Securitization PSA by the time required and/or (iv)
any deficient Securities Exchange Act of 1934 report regarding, and delivered by or on behalf of, such party;

(xvii)       each
of the Master Servicer, the Special Servicer, the operating advisor, the custodian, the certificate administrator and the Trustee of the
Lead Securitization PSA 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,
cause such party to, comply with the foregoing Section 18 (d)(xvi) by inclusion of similar provisions in the related sub-servicing or
similar agreement;

(xviii)       provide
for special servicing, workout and liquidation fee rates that do not exceed (i) 0.25%, in the case of special servicing fees, (ii) the
lesser of (x) 1.00% and (y) such rate that results in a workout fee of $1,000,000, in the case of workout fees, and (iii) the lesser of
(x) 1.00% and (y) such rate that results in a liquidation fee of $1,000,000, in the case of liquidation fees, subject in each case to
market minimum special servicing fees and offsets set forth in the Lead Securitization PSA; and

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

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(e)       The
Holder of any Note that, upon the closing of the Securitization of such Note, will constitute the Lead Note under this Agreement shall:

(i)       give
the other Note Holders (except any Holder of any other Note included in such Securitization) notice of such Securitization in writing
(which may be by email) not less than three (3) Business Days prior to the applicable pricing date for such Securitization, together with
contact information for each of the parties to the related PSA;

(ii)       on
the closing date of such Securitization, send a copy (in EDGAR-compatible format) of such PSA to the other Note Holders (except any Holder
of any other Note included in such Securitization); and

(iii)       give
the other Note Holders (except any Holder of any other Note included in such Securitization) written notice in a timely manner (but no
later than one (1) Business Day prior to the applicable filing date) of any re-filing (other than a filing made in connection with a formal
amendment of such PSA) by the Depositor of such PSA subsequent to the Securitization Date if such filing contains revisions or changes
that are material to the other Note Holder.

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

20.   Modifications. This
Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties hereto. Additionally,
from and after a Securitization, except to cure any ambiguity or to correct any error or as set forth in Section 18(a), this Agreement
may not be modified unless a Rating Agency Confirmation has been delivered with respect to each Securitization.

21.   Successors and Assigns;
Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
successors and assigns. Each of the Master Servicer, Non-Lead Master Servicer and related Trustee is an intended third-party beneficiary
of this Agreement. Except as provided in Section 5 and the preceding sentence, none of the provisions of this Agreement shall
be for the benefit of or enforceable by any Person not a party hereto.

22.   Counterparts. This
Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute one and the same instrument.
Delivery of an executed counterpart of a signature page of this Agreement in Portable Document

    -31- 

     

    

Format (PDF) or by facsimile transmission
shall be as effective as delivery of a manually executed original counterpart of this Agreement

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

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

25.   Custody of Mortgage
Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Notes) will be held by the Trustee (or
by a custodian on its behalf) of the Lead Securitization under the terms of the Lead Securitization PSA on behalf of all of the Holders
until the Note A-1 Securitization Date, at which time the originals of all the Mortgage Loan Documents (other than Note A-2) will be transferred
to and held by the Note A-1 Trustee on behalf of all of the Holders.

 

 

 

[NO FURTHER TEXT ON THIS PAGE]

    -32- 

     

    

IN WITNESS WHEREOF, each
of the Note A-1 Holder and the Note A-2 Holder has caused this Agreement to be duly executed as of the day and year first above written.

 

 

	 	Note A-1 Holder:
	 	 
	 	CITI REAL ESTATE FUNDING INC.
	 	 
	 	 
	 	 By:  	/s/ Tina Lin
	 	 	Name:  	Tina Lin
	 	 	Title: 	Vice President
	 	 	 	 

 

    	 	A-1	 

    	 

    

 

 

	 	Note A-2 Holder:
	 	 
	 	LMF COMMERCIAL, LLC
	 	 
	 	 
	 	 By:  	/s/ Charles Gamble
	 	 	Name:  	Charles Gamble
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

    	 	A-2	 

    	 

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan

	Borrower:	Royal Breeze Apartments, Inc., a Delaware corporation, Lenox Apartments, Inc., a Delaware corporation and Park Aberdeen Apartments, LLC, a Florida limited liability company
	Mortgage Loan Origination Date:  	November 9, 2021
	Initial Principal Amount of Mortgage Loan:	$83,000,000
	Locations of Mortgaged Property:	Clearwater Florida, Tampa Florida
	Current Use of Mortgaged Property:	Multi-Family
	Mortgage Interest Rate:	
    Note A-1:3.97%

    Note A-2:3.97%

     

	Maturity Date:	December 6, 2031

    	 	A-3	 

    	 

    

B.       Description of Notes

	Mortgage Loan Origination Date:	 
	Initial Note A-1 Principal Balance:	$48,000,000
	Initial Note A-2 Principal Balance:	$35,000,000
	Initial Note A-1 Percentage Interest:	57.831%
	Initial Note A-2 Percentage Interest:	42.169%
	Note A-1 Interest Rate:	3.97%
	Note A-2 Interest Rate:	3.97%
	Note A-1 Default Interest Rate:	Lesser of (a) the maximum rate permitted by law or (b) four percent (4%) above the Note A-1 Interest Rate
	Note A-2 Default Interest Rate:	Lesser of (a) the maximum rate permitted by law or (b) four percent (4%) above the Note A-2 Interest Rate

 

    	 	A-4	 

    	 

    

EXHIBIT B

Note A-1 Holder:

(Prior to Securitization of Note A-1):

Citi Real Estate Funding Inc.

388 Greenwich Street, 8th Floor

New York, New York 10013

Attention : Commercial Real Estate Group

Facsimile No.: (646) 328-2938

with a copy to:

Katten Muchin Rosenman LLP

550 South Tryon Street, Suite 2900

Charlotte, North Carolina 28202

Attention: John Domby, Esq.

Facsimile No.: (704) 444-2050

 

Note A-2 Holder:

 

LMF Commercial, LLC

590 Madison Avenue, 9th floor

New York, New York 10022

 

 

    B-1

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

Westbrook Partners

iStar Financial Inc.

Capital Trust

Archon Capital, L.P.

Whitehall Street Real Estate Fund, L.P.

The Blackstone Group

Normandy Real Estate Partners

Dune Real Estate Partners

AllianceBernstein

Rockwood

RREEF Funds

Hudson Advisors

Artemis Real Estate Partners

Apollo Real Estate Advisors

Colony Capital, Inc.

Praedium Group

Fortress Investment Group, LLC

Lonestar Opportunity Funds

Clarion Partners

Walton Street Capital, LLC

Starwood Financial Trust

BlackRock, Inc.

Eightfold Real Estate Capital, L.P.

KKR Real Estate Manager Finance LLC

Rialto Capital Management, LLC

Rialto Capital Advisors, LLC

 

    C-1Exhibit 4.11

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTEHOLDERS

 

Dated as of November 23, 2021

 

by and among

 

DBR INVESTMENTS CO. LIMITED

(Initial Note A-1 Holder)

 

and

 

AMERICAN GENERAL LIFE INSURANCE COMPANY

(Initial Note A-2 Holder, Initial Note B-1 Holder and Initial Note B-3 Holder)

 

and

 

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

(Initial Note A-3 Holder, Initial Note B-2 Holder and Initial Note B-4 Holder)

 

The Eddy – South Condominium Unit

555 1st Street

Harrison, NJ 07029

     

     

    

THIS AGREEMENT BETWEEN
NOTEHOLDERS (“Agreement”), dated as of November 23, 2021, is by and among DBR INVESTMENTS CO. LIMITED together
with its successors and assigns in interest, in its capacity as initial owner of Note A-1, the “Initial Note A-1 Holder”),
AMERICAN GENERAL LIFE INSURANCE COMPANY, together with its successors and assigns in interest, in its capacity as initial owner
of Note A-2, the “Initial Note A-2 Holder”, in its capacity as initial owner of Note B-1, the “Initial
Note B-1 Holder” and in its capacity as initial owner of Note B-3, the “Initial Note B-3 Holder”,
THE VARIABLE ANNUITY LIFE INSURANCE COMPANY, together with its successors and assigns in interest, in its capacity as initial owner
of Note A-3, the “Initial Note A-3 Holder”, in its capacity as initial owner of Note B-2, the “Initial
Note B-2 Holder” and in its capacity as initial owner of Note B-4, the “Initial Note B-4 Holder”)
and AIG ASSET MANAGEMENT (U.S.), LLC in its capacity as the initial agent, the “Initial Agent”.

W I T N E S S E T H:

WHEREAS, pursuant
to the Mortgage Loan Agreement (as defined herein) the Initial Senior Noteholders and the Initial Junior Noteholders originated
a certain loan described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”)
(the “Mortgage Loan”) to Benjamin Harrison Urban Renewal, LLC (the “Mortgage Loan Borrower”),
which was evidenced, inter alia, by (i) one promissory note in the original principal amount of $43,000,000 (“Note
A-1”) made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder, (ii) one promissory note in the original
principal amount of $46,530,000 (“Note B-1”) made by the Mortgage Loan Borrower in favor of the Initial Note
B-1 Holder, (iii) one promissory note in the original principal amount of $470,000 (“Note B-2”) made by the
Mortgage Loan Borrower in favor of the Initial Note B-2 Holder, (iv) one promissory note in the original principal amount of $0
and the maximum principal amount of $5,170,000.00 (“Note B-3”) made by the Mortgage Loan Borrower in favor of
the Initial Note B-3 Holder, (v) one promissory note in the original principal amount of $0 and the maximum principal amount of
$4,730,000.00 (“Note A-2”) made by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder, (vi)
one promissory note in the original principal amount of $0 and the maximum principal amount of $47,778.00 (“Note A-3”)
made by the Mortgage Loan Borrower in favor of the Initial Note A-3 Holder and (vii) one promissory note in the original principal
amount of $0 and the maximum principal amount of $52,222.00 (“Note B-4”) made by the Mortgage Loan Borrower
in favor of the Initial Note B-4 Holder, and together with Note A-1, Note A-2, Note A-3, Note B-1, Note B-2, Note B-3 and Note
B-4, the “Notes”), and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on one or more parcels of, or estates in, real property located as described on the Mortgage Loan Schedule (collectively, the “Mortgaged
Property”); and

WHEREAS, under the
terms of the Mortgage Loan Agreement (as defined herein), the Initial Note A-2 Holder, Initial Note A-3 Holder, Initial Note B-3
Holder and Initial Note B-4 Holder, have granted the Mortgage Loan Borrower the right to obtain an additional advance on a future
date in an amount not to exceed $10,000,000 in the aggregate, which as of the date hereof has not been advanced (the “Earnout
Advance”) but may be advanced on a future date, subject to the satisfaction of the terms and conditions of the Mortgage
Loan Documents;

 

    1 

     

    

WHEREAS, the parties
hereto desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns, shall hold
the Notes;

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

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

“Acceptable
Insurance Default” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

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

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

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

“Agent Office”
shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement is the office
of the Initial Agent listed on Exhibit B hereto, and which is the address to which notices to and correspondence with the Agent
should be directed. The Agent may change the address of its designated office by notice to the Noteholders.

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

“Appraisal”
shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

    2 

     

    

“AGLIC”
shall mean American General Life Insurance Company.

“Appraisal
Reduction Amount” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Appraisal
Reduction Event” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Asset Review”
shall have the meaning assigned to such term or analogous term in the Non-Lead Securitization Servicing Agreement.

“Asset Status
Report” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Balloon
Loan” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Balloon
Payment” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

“Borrower
Party” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Borrower
Party Affiliate” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Business
Day” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“CBRE”
shall mean CBRE Capital Markets of Texas, L.P., formerly known as L.J. Melody & Company of Texas, LP.

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

“Certificate
Administrator” shall mean the certificate administrator appointed pursuant to the Lead Securitization Servicing Agreement..

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

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

    3 

     

    

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

“Companion
Loan” shall mean collectively the Non-Lead Securitization Notes and the Junior Note.

“Condemnation
Proceeds” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Conduit”
shall have the meaning assigned to such term in Section 20(f).

“Conduit
Credit Enhancer” shall have the meaning assigned to such term in Section 20(f).

“Conduit
Inventory Loan” shall have the meaning assigned to such term in Section 20(f).

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an
entity, whether through the ability to exercise voting power, by contract or otherwise.

“Control
Appraisal Period” shall mean a Junior Noteholder Control Appraisal Period.

“Controlling
Class Representative” shall mean the “Controlling Class Representative” as defined in the Servicing Agreement
or such other analogous term used in the Servicing Agreement.

“Controlling
Noteholder” shall mean as of any date of determination:

(i)           
the Junior Noteholder unless a Junior Noteholder Control Appraisal Period has occurred and is continuing but, in each case,
subject to the ability of the Junior Noteholder to effectuate a Threshold Event Cure pursuant to this Agreement; or

(ii)           if a Junior Noteholder Control Appraisal Period has occurred and is continuing (in each case, subject to the ability of
the Junior Noteholder to effectuate a Threshold Event Cure pursuant to this Agreement), the Note A-1 Holder;

provided
that, (1) if the Junior Noteholder would be the Controlling Noteholder pursuant to the terms hereof, but (x) any direct interest
(or indirect controlling interest) in the Junior Note is held by a Borrower Party or a Borrower Party Affiliate, and a Borrower
Party or Borrower Party Affiliate would be entitled to exercise the rights of the Controlling Noteholder or (y) a Borrower Party
or Borrower Party Affiliate would otherwise be entitled to exercise the rights of the Controlling Noteholder (each of clause (x)
and (y), a “Prohibited Borrower Affiliation” with respect to the Junior Note), then a Junior Noteholder Control
Appraisal Period shall be deemed to have occurred, and (2) prior to a Lead Securitization, if the Note A-1 Holder would be
the Controlling Noteholder pursuant to the terms hereof, but has a Prohibited Borrower Affiliation with

    4 

     

    

respect to Note A-1, then
(A) the Controlling Noteholder shall be the Senior Noteholder with the largest Senior Note Percentage Interest (without giving
effect to any Senior Noteholder that is subject to a Prohibited Borrower Affiliation with respect to its Senior Note) that does
not have a Prohibited Borrower Affiliation with respect to its Senior Note, (B) if every Senior Noteholder has a Prohibited Borrower
Affiliation with respect to its Senior Note, then the Controlling Noteholder shall be the Junior Noteholder (unless the Junior
Noteholder has a Prohibited Borrower Affiliation with respect to the Junior Note, and (C) if each Noteholder has a Prohibited Borrower
Affiliation with respect to its Note, then the Controlling Noteholder shall be the Note A-1 Holder;

provided,
further that at any time Note A-1 is the Controlling Noteholder and is included in the Lead Securitization, references to
the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in the
Lead Securitization designated as the “controlling class” (or such lesser amount as permitted under the terms of the
Servicing Agreement) or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder”
thereunder, as and to the extent provided in the Servicing Agreement. Notwithstanding the forgoing or anything else to the contrary
as set forth in this Agreement, the Junior Operating Advisor shall have the right to exercise all rights of the Controlling Noteholder
under this Agreement on behalf of the Junior Noteholders when the Junior Noteholders are the Controlling Noteholder.

“Corrected
Mortgage Loan” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“CREFC®
Intellectual Property Royalty License Fee Rate” shall mean with respect to each Mortgage Loan, a rate equal to 0.0005%
per annum.

“Cure Period”
shall have the meaning assigned to such term in Section 12(a).

“DBRI”
shall mean DBR Investments Co. Limited.

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

“Defaulted
Loan” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Defaulted
Mortgage Loan Purchase Price” shall mean the sum, without duplication, of each of the following to the extent that such
amounts have not been previously paid or reimbursed pursuant to Section 3 or Section 4 of this Agreement:

(a)   
the then-outstanding Senior Note Principal Balance, (b) accrued and unpaid interest on the Senior Note Principal Balance
at the Senior Note Rate, from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including
the end of the interest accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c)
any other amounts due under the Mortgage Loan to the Senior Noteholder, other than Prepayment Premiums, default interest, late
fees, exit fees and any other similar fees, provided that if a Borrower Party or a Borrower Party Affiliate is the direct purchaser
or has an indirect controlling interest in the direct

    5 

     

    

purchaser (for the avoidance of doubt, a Borrower Party or Borrower Party
Affiliate shall not be deemed to be a “direct purchaser” by virtue of the fact that a Borrower Party or Borrower Party
Affiliate holds an indirect non-controlling interest in the Junior Noteholder), the Defaulted Mortgage Loan Purchase Price shall
include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication to clause
(c) any unreimbursed Servicing Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without
limitation, servicing Advances payable or reimbursable to any Servicer, and earned and unpaid special servicing fees owing to or
by or on behalf of the Senior Noteholders), (e) without duplication of amounts under clause (c), any accrued and unpaid
interest payable on Advances with respect to an Advance made by or on behalf of the Senior Noteholders, (f) (x) if a Borrower Party
or a Borrower Party Affiliate is the direct purchaser or has an indirect controlling interest in the direct purchaser (for the
avoidance of doubt, a Borrower Party or Borrower Party Affiliate shall not be deemed to be a “direct purchaser” by
virtue of the fact that a Borrower Party or Borrower Party Affiliate holds an indirect non-controlling interest in the Junior Noteholder)
or (y) if the Mortgage Loan is purchased after ninety (90) days after such option first becomes exercisable pursuant to Section
13 of this Agreement, any liquidation or workout fees payable under the Servicing Agreement with respect to the Mortgage Loan
and (g) any Recovered Costs not reimbursed previously to the Senior Notes pursuant to this Agreement. Notwithstanding the foregoing,
if the purchasing Noteholder is purchasing from a Borrower Party or a Borrower Party Affiliate, the Defaulted Mortgage Loan Purchase
Price shall not include the amounts described under clauses (d) through (f) of this definition. If the Mortgage Loan
is converted into a REO Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed
to continue to accrue on the Senior Notes at the Senior Note Rate, as if the Mortgage Loan were not so converted. In no event shall
the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the purchasing Noteholder under this Agreement.

“Defaulted
Note Purchase Date” shall have the meaning assigned to such term in Section 13.

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

“Deficient
Valuation” shall mean a valuation by a court of competent jurisdiction of the Mortgaged Property in an amount less than
the then outstanding principal balance of the Mortgage Loan valuation results from a proceeding initiated under the Bankruptcy
Code.

“Depositor”
shall mean Deutsche Mortgage & Asset Receiving Corporation, a Delaware corporation, and its successors-in-interest.

“Determination
Date” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Directing
Holder” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

    6 

     

    

“Distribution
Date” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Earnout
Advance” shall have the meaning assigned to such term in the recitals to this Agreement.

“Earnout
Advance Obligation” shall mean the option made available to the Mortgage Loan Borrower by the Earnout Holders to obtain
the Earnout Advance upon satisfaction of the conditions thereto under Section 2.2.6 of the Mortgage Loan Agreement.

“Earnout
Holders” individually or collectively as the context requires, the Note A-2 Holder, Note A-3 Holder, Note B-3 Holder
and Note B-4 Holder.

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

“Excluded
Loan” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Final Asset
Status Report” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Final Recovery
Determination” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

“Grace Period”
shall have the meaning assigned to such term in Section 12(a).

“Indemnified
Items” shall mean, collectively, any claims, losses, penalties, fines, forfeitures, reasonable legal fees and related
costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the servicing and administration
of the Mortgage Loan and the Mortgaged Property (or, with respect to the Operating Advisor, incurred in connection with the provision
of services for the Mortgage Loan) under the Servicing Agreement.

“Indemnified
Parties” shall mean, collectively, (i) as and to the same extent the Lead Securitization Trust is required to indemnify
each of the following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the
Servicing Agreement, each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor and the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are
identified as indemnified parties in the Servicing Agreement in respect of other mortgage loans) and (ii) the Lead Securitization
Trust.

“Independent”
shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Initial
Agent” shall have the meaning set forth in the introductory paragraph of this Agreement.

    7 

     

    

“Initial
Note A-1 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note A-2 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note A-3 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note B-1 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note B-2 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note B-3 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Note B-4 Holder” shall have the meaning set forth in the introductory paragraph of this Agreement.

“Initial
Junior Noteholders” shall mean, individually or collectively as the context requires, the Initial B-1 Holder, Initial
B-2 Holder, Initial B-3 Holder or Initial B-4 Holder.

“Initial
Noteholders” shall mean, collectively, the Initial Senior Noteholders and the Initial Junior Noteholders.

“Initial
Senior Noteholders” shall mean, individually or collectively as the context requires, the Initial A-1 Holder, Initial
A-2 Holder or Initial A-3 Holder.

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

    8 

     

    

“Insurance
Proceeds” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Interest
Accrual Period” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

“Interested
Person” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

“Junior Note”
shall mean any of Note B-1, Note B-2, Note B-3 and Note B-4, as applicable.

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

“Junior Noteholder”
shall mean each Initial Junior Noteholders, or any subsequent holder of any Junior Note, together with their respective successors
and assigns.

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

(a)         
(1) the initial aggregate of the Junior Note Principal Balances (plus the principal amount of any Earnout Advances funded
by the Earnout Holders who are Junior Noteholders) minus (2) the sum (without duplication) of (x) any payments of principal (whether
as principal prepayments or otherwise) allocated to, and received on, one or more of the Junior Notes after the date of creation
of the Junior Notes, (y) any Appraisal Reduction Amount for the Mortgage Loan that is allocated to one or more of the Junior Notes
and (z) any losses realized with respect to any Mortgaged Property or the Mortgage Loan that are allocated to one or more of the
Junior Notes, is less than

(b)          25% of the remainder of the (i) initial aggregate of the Junior Note Principal Balances (plus the principal amount of any
Earnout Advances funded by the Earnout Holders who are Junior Noteholders) less (ii) any payments of principal (whether as principal
prepayments or otherwise) allocated to, and received by, one or more of the Junior Noteholders on their Junior Notes after the
date of creation of the Junior Notes.

“Junior Note
Percentage Interest” shall mean, with respect to the Note B-1 Holder, the Note B-1 Percentage Interest, with respect
to the Note B-2 Holder, the Note B-2 Percentage Interest and with respect to the Note B-3 Holder, the Note B-3 Percentage Interest

    9 

     

    

and with respect to the Note B-4 Holder, the Note B-4 Percentage Interest, in each case as adjusted from time to time.

“Junior Note
Principal Balance” shall mean, with respect to each Junior Note at any time of determination, the initial Principal Balance
of such Junior Note set forth on the Mortgage Loan Schedule, plus the applicable portion of any Earnout Advance actually funded
by the related Junior Noteholder that is an Earnout Holder pursuant to Section 11, less any payments of principal thereon
received by the applicable Junior Noteholder or reductions in such amount pursuant to Section 3, 4 or 5, as
applicable.

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

“Junior Note
Relative Spread” shall mean the ratio of the Junior Note Rate to the Mortgage Loan Rate.

“Junior Operating
Advisor” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 6(a) hereof
as such Junior Operating Advisor may be replaced from time to time pursuant to Section 6(a) hereof. To the extent there
is only one Junior Noteholder, the Junior Operating Advisor shall be the Junior Noteholder, unless the Junior Noteholder appoints
a different Junior Operating Advisor pursuant to Section 6(a) hereof. The initial Junior Operating Advisor hereunder
shall be AIG Asset Management (U.S.), LLC.

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

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

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

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

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

“Lender”
shall have the meaning assigned to such term in the Mortgage Loan Agreement, together with any such Lender’s respective successors
and assigns.

“Liquidation
Fee” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Liquidation
Proceeds” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“MAI”
shall mean Member of the Appraisal Institute.

    10 

     

    

“Major Decisions”
shall mean:

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

(ii)           any modification, consent to a modification or waiver of any monetary term (other than late fees and default interest) or
material non-monetary term (including, without limitation, the timing of payments and acceptance of discounted payoffs) of the
Mortgage Loan Documents or any extension of the maturity date of the Mortgage Loan;

(iii)           following a default or an event of default with respect to the Mortgage Loan Documents, any exercise of remedies, including
the acceleration of the Mortgage Loan or initiation of any proceedings, judicial or otherwise, under the related Mortgage Loan
Documents;

(iv)           any sale of the Mortgage Loan (when it is a Defaulted Loan) or REO Property for less than the applicable Purchase Price;

(v)           
any determination to bring a Mortgaged Property or an REO Property into compliance with applicable environmental laws or
to otherwise address any Hazardous Materials (as defined in the Servicing Agreement) located at a Mortgaged Property or an REO
Property;

(vi)           any release of material personal property collateral, any real personal property or any acceptance of substitute or additional
collateral for the Mortgage Loan or any consent to either of the foregoing, other than if required pursuant to the specific terms
of the related Mortgage Loan Documents and for which there is no lender discretion;

(vii)          any waiver of or any determination not to enforce a “due-on-sale” or “due-on-encumbrance” clause
with respect to the Mortgage Loan or any consent to such a waiver or consent to a transfer of a Mortgaged Property or any direct
or indirect interests in the Mortgage Loan Borrower;

(viii)         any incurrence of additional debt by the Mortgage Loan Borrower or any mezzanine financing by any direct or indirect beneficial
owner of the Mortgage Loan Borrower (to the extent that the Lender has consent rights pursuant to the related Mortgage Loan Documents);

(ix)           
any modification, waiver or amendment of an intercreditor agreement, co-lender agreement or similar agreement with any mezzanine
lender or subordinate debt holder related to the Mortgage Loan, or any action to enforce rights (or decision not to enforce rights)
with respect thereto, or any material modification, waiver or amendment thereof;

    11 

     

    

(x)           
any amendment, modification or termination of any Management Agreement (as defined in the Mortgage Loan Agreement), any
property management company changes, including, without limitation, approval of the termination of a manager and appointment of
a new property manager or franchise changes (in each case, if the Lender is required to consent or approve such changes under the
Mortgage Loan Documents);

(xi)           releases of any material amounts from any escrow accounts, reserve funds or letters of credit, in each case, held as performance
escrows or reserves, other than those required pursuant to the specific terms of the related Mortgage Loan Documents and for which
there is no lender discretion;

(xii)          any acceptance of an assumption agreement releasing a borrower, guarantor or other obligor from liability under the Mortgage
Loan other than pursuant to the specific terms of such Mortgage Loan and for which there is no lender discretion;

(xiii)         any determination of an Acceptable Insurance Default (as defined in the Servicing Agreement);

(xiv)         any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances described
in clause (iii) of the definition of Servicing Transfer Event;

(xv)          any proposed modification or waiver of the types, nature or amount of insurance coverage required to be obtained by Mortgage
Loan Borrower other than pursuant to the specific terms of such Mortgage Loan and for which there is no lender discretion;

(xvi)         any filing of a bankruptcy or similar action against the Mortgage Loan Borrower or Guarantor or the election of any action
in a bankruptcy or Insolvency Proceeding to seek relief from the automatic stay or dismissal of a bankruptcy filing or voting for
or opposing a plan of reorganization, seeking or opposing an order for adequate protection, adequate assurance, a § 363 sale,
order shortening time or similar motion of procedure in an Insolvency Proceeding or making an § 1111(b)(2) election on behalf
of the Noteholders;

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

(xviii)        approval of any operating budget in respect of the Mortgage Loan to the extent the Lender's consent is required under the
Loan Agreement;

(xix)           approval of any designation of the Special Servicer or any replacement Special Servicer; or

(xx)           
any modification, waiver or amendment of any lease, the execution of any new lease other than pursuant to the specific terms
of such Mortgage Loan

    12 

     

    

and for which there is no lender discretion, or the granting of a subordination and nondisturbance or attornment
agreement in connection with any lease pursuant to Section 7.1.13 of the Mortgage Loan Agreement, in each case, at the Mortgaged
Property;

provided, however
that upon the occurrence and during the continuance of a Control Appraisal Period, “Major Decision” shall have
the meaning given to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

“Master Servicer”
shall mean the master servicer appointed pursuant to the Servicing Agreement.

“Master Servicer
Remittance Date” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Maturity
Date” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Maximum
Legal Rate” shall have the meaning assigned to such term in the Mortgage Loan Agreement.

“Modified
Mortgage Loan” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Monetary
Default” shall have the meaning assigned to such term in Section 12(a).

“Monetary
Default Notice” shall have the meaning assigned to such term in Section 12(a).

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

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

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

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

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

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

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of November 23, 2021, between the Mortgage Loan Borrower,
Initial Agent and the Initial

    13 

     

    

Noteholders as Lender, as the same may be amended, restated, supplemented or otherwise modified from
time to time, subject to the terms hereof.

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

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

“Mortgage
Loan Rate” shall mean, as of any date of determination, the weighted average of the Senior Note Rate and the Junior Rate.

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

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

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

“Non-Controlling
Note” shall mean the interest of each Non-Controlling Noteholder in its Note.

“Non-Controlling
Noteholder” shall mean each Noteholder other than the Controlling Noteholder.

“Non-Controlling
Pari Passu Noteholder” shall mean, individually or collectively as the context requires, the Note A-2 Holder and Note
A-3 Holder; provided that with respect to the related Non-Controlling Note held by any such Holder, at any time such Non-Controlling
Note is included in a Securitization other than the Lead Securitization, references to the “Non-Controlling Pari Passu Noteholder”
herein shall mean the Non-Lead Securitization Subordinate Class Representative under the related Non-Lead Securitization Servicing
Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity of which
the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer) has been given written notice. The Lead Securitization
Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with
more than one party exercising the rights of a “Non-Controlling Pari Passu Noteholder” herein or under the Servicing
Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than
one party or (y) to the extent a Non-Controlling Note is split into two or more New Notes pursuant to Section 39, for
purposes of this Agreement, the Non-Lead Securitization Servicing Agreement or the holders of such New Notes shall designate one
party to deal with the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) and
provide written notice of such designation to the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer
acting on its behalf) (such party, the “Non-Controlling Pari Passu Noteholder Representative”); provided
that, in the absence of such designation and notice, the Lead Securitization Noteholder (or the Master

    14 

     

    

Servicer or the Special
Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received written notice as having been
designated as the Non-Controlling Pari Passu Noteholder Representative with respect to such Non-Controlling Note for all purposes
of this Agreement. As of the date hereof and until further notice from the Non-Lead Securitization Noteholder (or the Non-Lead
Master Servicer or another party acting on its behalf), the Note A-2 Holder and Note A-3 Holder is the Non-Controlling Pari Passu
Noteholder Representative with respect to Note A-2 and Note A-3, respectively.

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

“Non-Controlling
Pari Passu Noteholder Representative” shall have the meaning assigned to such term in the definition of “Non-Controlling
Pari Passu Noteholder”.

“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file with the Agent
for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by law and which,
pursuant to applicable provisions of (A) any income tax treaty between the United States and the country of residence of such Person,
(B) the Code or (C) any applicable rules or regulations in effect under clauses (A) or (B) above, permit the Servicer on behalf
of any Senior Noteholder to make such payments free of any obligation or liability for withholding.

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

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

    15 

     

    

“Non-Lead
Custodian” shall mean the “custodian” under any Non-Lead Securitization Servicing Agreement.

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

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

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

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

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

“Non-Lead
Securitization” shall mean, individually or collective as the context requires, a Securitization of Note A-2 and/or Note
A-3.

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

“Non-Lead
Securitization Note” shall mean, individually or collectively as the context requires, Note A-2 and/or Note A-3.

“Non-Lead
Securitization Noteholder” shall mean, individually or collectively as the context requires, the holder of Note A-2 and/or
Note A-3.

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

“Non-Lead
Securitization Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued
in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization
Servicing Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued
in any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Noteholder” is held by a Borrower Party or a Borrower Party Affiliate,
no person shall be entitled to exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

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

“Non-Lead
Servicer” shall mean any Non-Lead Master Servicer or Non-Lead Special Servicer, as applicable.

    16 

     

    

“Non-Lead
Special Servicer” shall mean any “special servicer” under a Non-Lead Securitization.

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

“Non-Monetary
Default” shall have the meaning assigned to such term in Section 12(d).

“Non-Monetary
Default Cure Period” shall have the meaning assigned to such term in Section 12(d).

“Non-Monetary
Default Notice” shall have the meaning assigned to such term in Section 12(d).

“Nonrecoverable
Servicing Advance” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

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

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

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

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

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

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

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

    17 

     

    

“Note A-2
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2 Holder
or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

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

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

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

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

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

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

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

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

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

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

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

    18 

     

    

“Note B-2
Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note B-1
Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note B-2 Holder
or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

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

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

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

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

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

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

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

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

“Note Default
Interest Spread” shall mean with respect to the outstanding principal balance of any Note, a rate per annum equal to
the lesser of (i) the Maximum Legal Rate or (ii) four percent (4%) above the Note Rate applicable to such Note.

“Note Pledgee”
shall have the meaning assigned to such term in Section 20(e).

“Note Rate”
shall mean any of the Senior Note Rate and the Junior Note Rate, as applicable.

“Note Register”
shall have the meaning assigned to such term in Section 22.

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“Noteholder”
shall mean any of the Senior Noteholders and the Junior Noteholders, as applicable.

“Noteholder
Purchase Notice” has the meaning assigned to such term in Section 13.

“Operating
Advisor” shall mean the operating advisor appointed pursuant to the Lead Securitization Servicing Agreement.

“Periodic
Payment” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

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

“Pledge”
shall have the meaning assigned to such term in Section 20(e).

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

“Prime Rate”
shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

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

“Pro Rata
and Pari Passu Basis” shall mean (a) with respect to the Senior Notes and the related Senior Noteholders, the allocation
of any particular payment, collection, cost, expense, liability or other amount between such Notes or such Senior Noteholders,
as the case may be, without any priority of any such Note or any such Senior Noteholder over another such Note or Senior Noteholder,
as the case may be, and in any event such that each such Senior Note or Senior Noteholder, as the case may be, is allocated its
respective percentage interest (relative to other Senior Notes) in such particular payment, collection, cost, expense, liability
or other amount, and (b) with respect to the Junior Notes and the related Junior Noteholders, the allocation of any particular
payment, collection, cost, expense, liability or other amount between such Notes or such Junior Noteholders, as the case may be,
without any priority of any such Note or any such Junior Noteholder over another such Note or Junior Noteholder, as the case may
be,

    20 

     

    

and in any event such that each such Junior Note or Junior Noteholder, as the case may be, is allocated its respective percentage
interest (relative to other Junior Notes) in such particular payment, collection, cost, expense, liability or other amount.

“Purchase
Price” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Qualified
Institutional Lender” shall mean each of the Initial Noteholders, DBRI, AGLIC and VALIC, and any other Person that is:

(a)              
an entity Controlled (as defined below) by, under common Control with or Controlling any of the Initial Senior Noteholders,
the Initial Junior Noteholders, DBRI, AGLIC and VALIC or any Affiliate thereof, or

(b)              
one or more of the following:

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

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

(iii)          a Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns
or pledges its Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a)
a securitization of, (b) the creation of collateralized debt obligations (“CDO”) secured by, or (c) a financing
through an “owner trust” of, a Note (any of the foregoing, a “Securitization Vehicle”), provided
that (1) one or more classes of securities issued by such Securitization Vehicle is initially rated at least investment grade by
each of the Rating Agencies which assigned a rating to one or more classes of securities issued in connection with a securitization
(it being understood that with respect to any Rating Agency that assigned such a rating to the securities issued by such Securitization
Vehicle, a Rating Agency Confirmation will not be required in connection with a transfer of a Note to such Securitization Vehicle);
(2) in the case of a Securitization Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required
Special Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note in accordance with servicing arrangements
for the assets held by the Securitization Vehicle which require that such Approved Servicer act in accordance with a servicing
standard notwithstanding any contrary direction or instruction from any other Person; or

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(3) in the case of a Securitization Vehicle
that is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by
a CDO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses (i), (ii),
(iii), (iv) or (v) of this definition, or

(iv)           
an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital
commitments of at least $500,000,000, in which (A) the Senior Noteholders or the Junior Noteholder, as applicable, (B) a person
that is otherwise a Qualified Institutional Lender under clause (i), (ii) or (v) (with respect to an institution substantially
similar to the entities referred to in clause (i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing
member, or the fund manager responsible for the day-to-day management and operation of such investment vehicle and provided that
at least 50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that
are otherwise Qualified Institutional Lenders (without regard to the capital surplus/equity and total asset requirements set forth
below in the definition), or

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

in the case of any entity referred to
in clause (b)(i), (b)(ii), (b)(iii)(a), (b)(iv)(B) or (b)(v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory
surplus or shareholders’ equity (except with respect to a pension advisory firm, asset manager or similar fiduciary) and
at least $600,000,000 in total assets (in name or under management), and (y) is regularly engaged in the business of making or
owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto)
or owning or operating commercial real estate properties; provided that, in the case of the entity described in clause (iv) (B)
above, the requirements of this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible
for the day-to-day management and operation of such entity, or

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

For purposes of this
definition only, “Control” means the ownership, directly or indirectly, in the aggregate of more than fifty
percent (50%) of the beneficial ownership interests of an entity and the possession, directly or indirectly, of the power to direct
or cause the direction of the management or policies of an entity, whether through the ability to exercise voting power, by contract
or otherwise (“Controlled” and “Controlling” have the meaning correlative thereto).

“Qualified
Trustee” means (i) a corporation, national bank, national banking association or a trust company, organized and doing
business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers
and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or
examination by federal or state authority, (ii) an institution insured by

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the Federal Deposit Insurance Corporation or (iii) an
institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the
applicable Rating Agencies.

“Rating Agencies”
shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS, (e) KBRA or, (f) if any of such entities shall for any reason
no longer perform the functions of a securities rating agency, any other nationally recognized statistical rating agency reasonably
designated by the Depositor or Non-Lead Depositor to rate the securities issued in connection with the Securitization of any Senior
Note; provided, however, that, at any time during which any Senior Note is an asset of one or more Securitizations, “Rating
Agencies” or “Rating Agency” shall mean with respect to any Senior Note, only those rating agencies that are
engaged by the Depositor or Non-Lead Depositor, as applicable, from time to time to rate the securities issued in connection with
the Securitization of such Note.

“Rating Agency
Confirmation” shall mean after a Securitization, the meaning given thereto or any analogous term in the Servicing Agreement
including any deemed Rating Agency Confirmation.

“Recovered
Costs” shall mean any amounts referred to in clauses (d) and/or (e) of the definition of “Defaulted Mortgage Loan
Purchase Price” that, at the time of determination, had been previously paid or reimbursed to any Servicer from sources other
than collections on or in respect of the Mortgage Loan or the Mortgaged Property (including, without limitation, from collections
on or in respect of loans other than the Mortgage Loan).

“Redirection
Notice” shall have the meaning assigned to such term in Section 20(e).

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

“Reimbursement
Rate” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

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

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

“REO Property”
shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

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

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

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

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

“Senior Notes”
shall mean any of Note A-1, Note A-2 and Note A-3, as applicable.

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

“Senior Noteholder”
shall mean each Initial Senior Noteholder, or any subsequent holder of any Senior Note, together with their respective successors
and assigns.

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

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“Senior Note
Principal Balance” shall mean, with respect to each Senior Note at any time of determination, the initial Principal Balance
of such Senior Note set forth on the Mortgage Loan Schedule, plus the applicable portion of any Earnout Advance actually funded
by the related Senior Noteholder that is an Earnout Holder pursuant to Section 11, less any payments of principal thereon
received by the applicable Senior Noteholder or reductions in such amount pursuant to Section 3, 4 or 5, as
applicable.

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

“Senior Note
Relative Spread” shall mean the ratio of the Senior Note Rate to the Mortgage Loan Rate.

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which any Senior Note is held.

“Sequential
Pay Event” shall mean any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any
other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage
Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default;
provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at
least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the
subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will
not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential
Pay Event shall no longer exist to the extent it has been cured (including, without limitation, pursuant to any cure payment made
by the Junior Noteholder in accordance with Section 12) and shall not be deemed to exist to the extent (x) the Junior Noteholder
is exercising its cure rights under Section 12 or (y) that the default that led to the occurrence of such Sequential Pay Event
has been otherwise cured.

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

“Servicing
Advance” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Servicing
Agreement” shall mean the pooling and servicing agreement to be entered into in connection with the Securitization of
Note A-1. The Servicing Standard in the Servicing Agreement shall require, among other things, that each Servicer, in servicing
the Mortgage Loan, must take into account the interests of each Noteholder (taking into account that the Junior Note is subordinate
to the Senior Note, subject to the terms of this Agreement). On or promptly following the Securitization Date, the Initial Note
A-1 Holder shall cause to be delivered to each Initial Junior Noteholders a copy of the Servicing Agreement via electronic delivery
to the Email address(es) provided on Exhibit B to this Agreement.

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“Servicing
Fee Rate” shall have the meaning assigned to such term in the Servicing Agreement, or with respect to Note A-2, Note
A-3 and each Junior Note, 0.0% per annum.

“Servicing
Standard” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Servicing
Transfer Event” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Specially
Serviced Mortgage Loan” shall mean the Mortgage Loan as to which a Servicing Transfer Event has occurred and is continuing.

“Special
Servicer” shall mean a Special Servicer appointed as provided in the Servicing Agreement, in each case, subject to the
terms and provisions of this Agreement.

“Special
Servicing Fee” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Special
Servicing Fee Rate” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

“Stated Principal
Balance” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

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

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

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

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement, excluding a repurchase financing or a Pledge in accordance with Section 20(e)).

“Trustee”
shall mean the trustee appointed pursuant to the Lead Securitization Servicing Agreement.

“U.S. Person”
shall mean a citizen or resident of the United States, a corporation or partnership (except to the extent provided in applicable
Treasury Regulations) created or organized in or under the laws of the United States, any State thereof or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, or an estate whose income is subject
to United States federal income tax regardless of its source, or a

    26 

     

    

trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, a trust in existence on August 20,
1996 that is eligible to elect to be treated as a U.S. Person).

“VALIC”
shall mean The Variable Annuity Life Insurance Company.

“Whole Loan”
shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

“Whole Loan
Collection Account” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii)
hereof.

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

“Workout
Fee” shall have the meaning assigned to such term in the Servicing Agreement, subject to Section 2(d)(vii) hereof.

Section 2.         
Servicing.

(a)         
Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced (i) prior to
the Lead Securitization Date, by CBRE in accordance with the terms of this Agreement and that certain interim servicing agreement
between Midland Loan Services, a Division of PNC Bank, National Association and the Initial Note A-1 Holder (as amended, the “Interim
Servicing Agreement”), provided that (x) the Initial Note A-1 Holder shall ensure for the benefit of the
other Noteholders that the Mortgage Loan shall be serviced in accordance with the Servicing Standard and in any event neither CBRE
nor the Initial Note A-1 Holder (or any Noteholder) shall enter into any modification, wavier, consent or amendment of the Mortgage
Loan or any portion thereof unless each Noteholder consents thereto in its sole discretion and (y) if for any reason a Securitization
of the Lead Securitization Note does not occur within ninety (90) days following the date hereof, all Noteholders shall negotiate
in good faith for the execution and delivery of a servicing agreement with CBRE as servicer with commercially reasonable servicing
provisions, and (ii) after the Lead Securitization Date, subject to Section 2(p) hereof, the Servicing Agreement; provided
that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of the Notes other
than Note A-1 (and any Non-Lead Master Servicer may be required to advance monthly payments of principal and interest on the related
Non-Lead Note pursuant to the terms of the applicable Non-Lead Securitization Servicing Agreement) if such principal or interest
is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and
other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage
thereon, subject to the terms of the Servicing Agreement. If the Lead Securitization does not occur within 30 days of the date
hereof, the Initial Note A-1 Holder shall deliver, at the request of any other Noteholder, a copy of the Interim Servicing Agreement
to such Noteholder within five (5) Business Days following request, provided that such copy may be reasonably redacted to
omit

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provisions unrelated to the Mortgage Loan or other confidential or commercially sensitive information. The Junior Noteholder
acknowledges that each Senior Noteholder may elect, in its sole discretion, to include its Senior Note in a Securitization and
agrees that it will reasonably cooperate with the applicable Senior Noteholder, at such Senior Noteholder’s, sole cost and
expense (including, without limitation, attorney’s fees), to effect such Securitization. Subject to the terms and conditions
of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer, Special
Servicer and the Trustee under the Servicing Agreement by the Depositor and agrees to reasonably cooperate with the Master
Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Servicing Agreement
and the terms and provisions of this Agreement. Each Noteholder hereby appoints the Master Servicer, the Special Servicer and the
Trustee in the Lead Securitization as such Noteholder’s attorney-in-fact to sign any documents reasonably required with respect
to the administration and servicing of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all times to the
rights of the Noteholders set forth herein and in the Servicing Agreement). In no event shall the Servicing Agreement require the
Servicer to enforce the rights of any Noteholder against any other Noteholder or limit the Servicer in enforcing the rights of
one Noteholder against any other Noteholder; however, this statement shall not be construed to otherwise limit the rights of one
Noteholder with respect to any other Noteholder. The Noteholders agree that no servicing fee will be payable under the Interim
Servicing Agreement by the Noteholders (other than Note A-1 Holder). The Initial Agent shall ensure that if the Initial Agent,
CBRE or an Earnout Holder receives a request for the Earnout Advance, such Person shall promptly notify the Initial Note A-1 Holder,
including by email to each email address listed in the Initial Note A-1 Holder’s notice address set forth in this Agreement.

(b)              
The then Controlling Noteholder shall be entitled to exercise any notice and consent rights of the “directing holder,”
“directing certificateholder,” “controlling class,” “controlling class representative” or any
analogous class or holder under the Servicing Agreement with respect to the servicing of the Mortgage Loan, except to the extent
such Noteholder is expressly prohibited from exercising such rights under the terms of this Agreement in its capacity as the Controlling
Noteholder and in any event, if Junior Noteholders are the Controlling Noteholder, excluding any such notice or consent right that
relates to (i) any mortgage loan (or REO property) other than the Mortgage Loan or REO Property related to the Mortgage Loan;
(ii) the determination of which class or certificateholders in the Lead Securitization constitute the “directing class”,
“directing certificateholders”, “controlling class”, or “controlling class certificateholders) in
the Lead Securitization, including the determination of a “control termination event” or “consultation termination
event”; (iii) any mortgage loan purchase agreement, including any representation or warranty thereunder, any breach
of such a representation or warranty, any remedy in respect of any breach of a representation or warranty, any loss of value payment
in respect of a breach of representation or warranty, or to any “repurchase request”, “repurchase request withdrawal”
or “repurchase communication”, or to what constitutes a “qualified substitute mortgage loan”; (iv) any
notice or consent rights related to the obligation of any person or entity to deliver or cause to be delivered any “mortgage
file” or “mortgage loan document” or servicing files; (v) any right of any certificateholder in the Lead
Securitization to the rights and benefits arising under the terms of its certificates as certificates, including rights to notice
or consent to any amendment of the Servicing Agreement; (vi) any right of such a “directing holder”, “directing
certificate holder”, “controlling class”, “controlling

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class representative” or any analogous class
or holder to consent to changes in the association or organization referred to in the definition of any “CREFC” report;
or (vii) any notice or consent right with respect to any amendment of any matter described in any of the preceding clauses.

(c)         
In no event may the Servicing Agreement change the interest allocable to, or the amount or timing of any payments due
to, the Controlling Noteholder or materially increase the Controlling Noteholder’s obligations or materially decrease
the Controlling Noteholder’s rights, remedies or protections hereunder.

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

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

(ii)           any payments received on the Mortgage Loan shall be paid by the Master Servicer to the Lead Securitization Noteholder) on
the Master Servicer Remittance Date under the Servicing Agreement and to the other Noteholders on the date described in Section
8(a);

(iii)           
the Controlling Noteholder (or a “shadow” servicer appointed by it) shall be entitled to receive, and the Master
Servicer and the Special Servicer shall provide access to, any information relating to the Mortgage Loan, the Mortgage Loan Borrower
or the Mortgaged Property as the Controlling Noteholder may reasonably request and is or would be customarily in the possession
of, or collected or known by, the Master Servicer or the Special Servicer of mortgage loans similar to the Mortgage Loan and, in
any event, all information that is provided and that is required to be provided to holders of the securities issued by the Lead
Securitization Trust including but not limited to standard CREFC reports and Asset Status Reports, provided that if an interest
in the Controlling Noteholder or the related Note is held by a Borrower Party or a Borrower Party Affiliate, then the Controlling
Noteholder (or its “shadow” servicer) shall not be entitled to receive the Asset Status Report or any other information
relating to the Special Servicer’s workout strategy, nor any “excluded information” or analogous term under the
Servicing Agreement;

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

(v)          subject to clause (vii) below, the Servicing Agreement may not be amended without the consent of each Noteholder
if such amendment would materially and adversely affect its rights thereunder;

(vi)         [reserved]; and

(vii)        [reserved].

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

(f)         
At any time after the Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the
Servicing Agreement, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced pursuant to a servicing agreement
that contains servicing provisions which are the same as or more favorable to the Junior Noteholder, in substance, to those in
the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports
necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act
of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement;
provided, however, that if any Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation
shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement; provided, further,
however, that until a replacement servicing agreement has been entered into, the Lead Securitization Noteholder shall cause
the Mortgage Loan to be serviced in accordance with the servicing provisions set forth in the Servicing Agreement as if such agreement
was still in full force and effect with respect to the Mortgage Loan; provided, further, however, that until a replacement servicing
agreement is in place, the actual servicing of the Mortgage Loan may be performed by any nationally recognized commercial mortgage
loan servicer appointed by Lead Securitization Noteholder and the special servicer appointed by the Controlling Noteholder and
does not have to be performed by the service providers set forth under the Servicing Agreement.

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

(i)           the related Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Nonrecoverable
Servicing Advances (and advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate
to servicing and administration of the Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing
Fees, Liquidation Fees and Workout Fees relating to the Notes, and that in the event that the funds received with respect to each
respective Note are insufficient to cover such Servicing Advances or additional trust fund expenses, (A) the related Non-Lead
Master Servicer will be required to, promptly

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following notice from the Master Servicer or the Special Servicer, pay or reimburse
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, or the Lead Securitization Trust, as applicable,
out of general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing
Agreement for such Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Servicing Advances
(together with advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master Servicer
and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property),
and (B) if the Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee
to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, may do so, and the related Non-Lead Master Servicer will be required
to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead Securitization
Trust out of general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization
Servicing Agreement for such Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Servicing
Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master
Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged
Property);

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

(iii)           
the related Non-Lead Certificate Administrator will be required
to deliver to the Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer and the Operating Advisor (i)
promptly following the Certificate Administrator’s receipt of notice of the Securitization of the related Non-Lead
Securitization Note, notice of the deposit of the related Non-Lead
Securitization Note into a Securitization Trust (which notice shall also provide contact information for the trustee, the certificate
administrator, the related Non-Lead Master Servicer, the related
Non-Lead Special Servicer and the party designated to exercise the rights
of the related “Non-Controlling Note Holder” under
this Agreement), accompanied by a true and correct copy of such executed Non-Lead Securitization Servicing Agreement and (ii) notice
of any subsequent change in the identity of the related Non-Lead
Master Servicer or the party designated to exercise the

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rights of the related “Non-Controlling
Note Holder” under this Agreement (together with the relevant contact information);

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

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

(h)              
The Servicing Agreement shall provide that compensating interest payments as defined therein with respect to the Senior
Notes will be allocated by the Master Servicer among each Senior Note, pro rata, in accordance with their respective principal
amounts. The Master Servicer shall remit any compensating interest payment in respect of each Non-Lead Note to the related Non-Lead
Note Holder.

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

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

(k)              
If a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization
Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate at the
Non-Lead Securitization Note Holder’s expense with such Non-Lead Asset Representations Reviewer in connection with such Asset
Review by providing such Non-Lead Asset Representations Reviewer with any documents reasonably requested by such Non-Lead Asset
Representations Reviewer, but only to the extent that such documents are in the possession of the Master Servicer, the Special
Servicer, the Trustee or the Custodian, as the case may be, and are not in the possession of the Non-Lead Asset Representations
Reviewer (and the Non-Lead Asset Representations Reviewer has informed such party that it has first requested, and not received,
the documents from the Non-Lead Master Servicer, the Non-Lead Special Servicer and the Non-Lead Custodian).

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(l)          
Subject to the Servicer’s obligation to act in accordance with the Servicing Standard and subject to a Rating Agency
Confirmation, and solely in the event that S&P rates any securities issued in connection with any Securitization of any Senior
Note, the Servicer shall require the related Mortgage Loan Borrower to maintain insurance with an insurer meeting the minimum S&P
ratings requirements specified in the related Mortgage Loan Documents (and, for the avoidance of doubt, without regard to any Lender
discretion with respect to such ratings in the related Mortgage Loan Documents).

(m)            
In addition to the non-cashiering subservicing agreement required to be entered into pursuant to Section 2(p) below
(i) any Noteholder of a Note that is not the subject of a Securitization, at such Noteholder’s sole cost and expense,
shall have the right to appoint a separate “shadow” servicer to “shadow” service solely the rights of such
Noteholder hereunder with respect to the Note held by such Noteholder, provided that, (A) no Noteholder (in the aggregate
with its Affiliates) will designate more than one such “shadow” servicer at any given time, and (B) Lead Securitization
Noteholder (and any Servicer) shall not be required to recognize any Person as a “shadow” servicer for a Noteholder
until such Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such appointment and provides the Lead
Securitization Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment, together with contact
information for the delivery of notices and other correspondence from and after any such designation until two (2) Business Days
after the Master Servicer or the Special Servicer, as applicable, receives a written notice of revocation of such designation,
the Master Servicer or the Special Servicer, as applicable, shall be entitled to rely on the instructions of, notices from and
approvals of such “shadow” servicer as being made on behalf of the applicable Noteholder, and (ii) if such Noteholder
so notifies the Master Servicer or the Special Servicer, as applicable, in writing, that such Noteholder has appointed a “shadow”
servicer to “shadow” service its Note, the Master Servicer or the Special Servicer, as applicable, shall deliver the
following to such separate “shadow” servicer in lieu of the applicable Noteholder: (1) any notice, reports, documents
or other information that would otherwise be required to be delivered hereunder to such Noteholder, (2) amounts owing to such Noteholder
under the Mortgage Loan Agreement that would otherwise be required to be remitted hereunder to such Noteholder and (3) access
to the Master Servicer’s website that the Junior Noteholder is entitled to under Section 5(d), subject to the procedures
set forth in the Servicing Agreement, provided, however, in no event shall such separate “shadow” servicer
(in that capacity) have any right whatsoever to (x) seek compensation reimbursement or indemnification payments from Mortgage Loan
Borrower or from any other Noteholder, deal directly with the Mortgage Loan Borrower or exercise any power that the appointing
Noteholder is not authorized to exercise hereunder in the absence of such appointment, (y) otherwise interfere with the carrying
out of the rights and duties hereunder of the Master Servicer or the Special Servicer, as applicable, or (z) cause the Master Servicer
or the Special Servicer, as applicable, to incur any additional cost or expense that would not otherwise be incurred hereunder
by the Master Servicer or the Special Servicer, as applicable or be entitled to reimbursement of expenses from Note A-1 Holder
or any Servicer thereof.

(n)              
Each Earnout Holder hereby acknowledges that such Earnout Holder is solely responsible to make its pro rata share of any
Earnout Advance required to be made by the Lender under the Mortgage Loan Documents. Upon the funding of the Earnout Advance by
the Earnout Holders pursuant to Section 11, the related Senior Note Principal Balance and Junior

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Note Principal Balance,
as applicable, shall be increased by the applicable amount of the Earnout Advance related to such Note.

(o)           The Note A-1 Holder (or any interim servicer on its behalf or, at any time when the Senior Note is included in the Securitization,
the Master Servicer) shall deliver to the Earnout Holders any requests from the Mortgage Loan Borrower for disbursement of the
Earnout Advance received by the Note A-1 Holder within two (2) Business Days after receipt.

(p)           Notwithstanding anything to the contrary contained herein, in the Servicing Agreement or in any Non-Lead Securitization
Servicing Agreement, initial Note A-1 Holder shall cause the Master Servicer to enter into a commercially reasonable non-cashiering
subservicing agreement between the Master Servicer and CBRE in connection with entering into the Lead Securitization, which non-cashiering
subservicing agreement shall require CBRE to (i) collect from the related Mortgage Loan Borrower all ongoing financial statements
and deliverables required to be provided from time to time pursuant to Section 7.1.6 of the Mortgage Loan Agreement, and coordinate
site inspections, and (ii) serve as the primary lender contact on a non-cashiering basis for receiving and responding to any communications
by the Mortgage Loan Borrower related to any consents or waivers under the terms of the Mortgage Loan Agreement, and manage any
such requests for consents or waivers under the terms of the Mortgage Loan Agreement; provided that CBRE shall not have authority
under such non-cashiering subservicing agreement to grant any modification, waiver, consent or amendment without the consent of
the Master Servicer or Special Servicer, as applicable under the Servicing Agreement, (iii) administering any Earnout Advances
requested by the Mortgage Loan Borrower pursuant to Section 2.2.6 of the Mortgage Loan Agreement. Such non-cashiering subservicing
agreement shall not apply to any period when the Mortgage Loan is a Specially Serviced Loan unless the Special Servicer consents
thereto. Such non-cashering subservicing agreement need not provide for the payment of any ongoing servicing fee to CBRE by the
Master Servicer. The execution of an initial cashiering sub-servicing agreement under this subsection (o) shall constitute
full and complete satisfaction and discharge of initial Note A-1 Holder’s obligations under this subsection.

Section 3.         
Subordination of Junior Note; Payments Prior to a Sequential Pay Event. The Junior Notes and the rights of the Junior
Noteholders to receive payments of interest, principal and other amounts with respect to the Junior Notes shall at all times be
junior, subject and subordinate to the Senior Notes and the right of the Senior Noteholders to receive payments of interest, principal
and other amounts with respect to the Senior Notes as set forth herein. If no Sequential Pay Event, as determined by the applicable
Servicer, shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise available for
payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty,
letter of credit or other collateral or instrument securing the Mortgage Loan, Insurance Proceeds or Condemnation Proceeds (other
than proceeds, awards or settlements that are required to be applied to the restoration or repair of the Mortgaged Property or
released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by
the REMIC Provisions) and any other amounts paid by Mortgage Loan Borrower under the Mortgage Loan Documents, but excluding (x)
all amounts for required reserves or escrows

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required by the Mortgage Loan Documents (to the extent, in accordance with the terms
of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on account of recoveries in respect
of Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement and (y) all amounts that are then
due, payable or reimbursable to any Servicer, Operating Advisor, Certificate Administrator or Trustee (excluding trustee fees,
certificate administrator fees and operating advisor fees, all of which shall be payable by each of the Senior Noteholders to such
parties out of distributions made to them in respect of the related Senior Notes), with respect to the Mortgage Loan pursuant to
the Servicing Agreement, shall be distributed by the Servicer for payment in the following order of priority without duplication
(and payments shall be made at such times as are set forth in this Agreement):

(a)         
first, to each Senior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to the accrued and unpaid interest
on its applicable Senior Note Principal Balance at the applicable Net Senior Note Rate;

(b)          second, to each Senior Noteholder on a Pro Rata and Pari Passu Basis in an amount equal to the applicable Senior Note Percentage
Interest of principal payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until
the Senior Note Principal Balance has been reduced to zero; provided, that with respect to any Insurance Proceeds or Condemnation
Proceeds allocated as principal on the Mortgage Loan and payable to the Noteholders collectively pursuant to this Section 3,
100% of such Insurance Proceeds and Condemnation Proceeds shall be distributed on a Pro Rata and Pari Passu Basis to the Senior
Noteholders until their Principal Balances have been reduced to zero;

(c)         
third, to each Senior Noteholder on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses
paid by such Senior Noteholder including any Recovered Costs not previously reimbursed to such Noteholder (or paid or advanced
by any Servicer on its behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement
or the Servicing Agreement;

(d)          fourth, to each Senior Noteholder on a Pro Rata and Pari Passu Basis in an amount equal to the product of (i) the applicable
Senior Note Percentage Interest, (ii) the Senior Note Relative Spread, and (iii) any Prepayment Premium to the extent paid by the
Mortgage Loan Borrower;

(e)         
fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed
the amounts required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout, the Senior
Note Principal Balance has been reduced, such excess amount shall be paid to each Senior Noteholder, on a Pro Rata and
Pari Passu Basis, in an amount up to the reduction, if any, of its applicable Senior Note Principal Balance as a result of such
Workout, plus interest on such amount at the related Senior Note Rate;

(f)         
 sixth, to the extent a Junior Noteholder has made any payments or advances to cure defaults pursuant to Section 12,
to reimburse the Junior Noteholder for all such cure payments; and to the Junior Noteholder in the amount of any other unreimbursed
reasonable

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out-of-pocket costs and expenses paid by the Junior Noteholder in connection with any cure of a non-monetary default
pursuant to Section 12, to the extent reimbursable by, but not previously reimbursed by, the Mortgage Loan Borrower;

(g)            seventh, to each Junior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to the accrued and unpaid interest
on its applicable Junior Note Principal Balance at the applicable Net Junior Note Rate;

(h)            eighth, to each Junior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to its applicable Junior Note
Percentage Interest of principal payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage
Loan, until the Junior Note Principal Balance has been reduced to zero; provided, that with respect to any Insurance Proceeds
or Condemnation Proceeds allocated as principal on the Mortgage Loan and available to the Noteholders collectively pursuant to
this Section 3, the portion of such Insurance Proceeds and Condemnation Proceeds remaining after distribution to the Senior
Notes pursuant to Section 3(b) above shall be distributed on a Pro Rata and Pari Passu Basis to the Junior Noteholders until
their Principal Balances have been reduced to zero;

(i)          
  ninth, to each Junior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to the product of (i) the applicable
Junior Note Percentage Interest, (ii) the Junior Note Relative Spread and (iii) any Prepayment Premium to the extent paid by the
Mortgage Loan Borrower;

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

(k)            eleventh, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be otherwise
applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to
pay any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments relate
to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan Borrower, shall be
paid pro rata to each Senior Noteholder and each Junior Noteholder in accordance with its applicable Senior Note Percentage Interest
and its applicable Junior Note Percentage Interest, respectively; and

(l)          
 twelfth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied
in accordance with the foregoing clauses (a)-(k), any remaining amount shall be paid pro rata to each Senior Noteholder
and each Junior Noteholder in accordance with its applicable Senior Note Percentage Interests and its applicable Junior Note Percentage
Interest, respectively.

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Section 4.         
Payments Following a Sequential Pay Event. Payments of interest and principal shall be made to the Noteholders in
accordance with Section 3 of this Agreement; provided, if a Sequential Pay Event, as determined by the applicable Servicer and
as set forth in the Servicing Agreement, shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower
or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts
realized as proceeds thereof (including without limitation amounts received by the Servicer pursuant to the Servicing Agreement
as reimbursements on account of recoveries in respect of Advances), whether received in the form of Monthly Payments, any proceeds
from the sale or distribution of any REO Property, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter
of credit or other collateral or instrument securing the Mortgage Loan, Insurance Proceeds or Condemnation Proceeds (other than
proceeds, awards or settlements that are required to be applied to the restoration or repair of the Mortgaged Property or released
to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC
Provisions) and any other amounts paid by Mortgage Loan Borrower under the Mortgage Loan Documents, but excluding (x) all amounts
for required reserves or escrows required by the Mortgage Loan Documents to continue to be held as reserves or escrows or received
as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to any Servicer under Servicing
Agreement and (y) all amounts that are then due, payable or reimbursable to any Servicer, Operating Advisor, Certificate Administrator
or Trustee (excluding trustee fees, certificate administrator fees and operating advisor fees, all of which shall be payable by
each of the Senior Noteholders to such parties out of distributions made to them in respect of the related Senior Note), with respect
to this Mortgage Loan pursuant to the Servicing Agreement with respect to the Mortgage Loan, shall be distributed by the Servicer
in the following order of priority without duplication (and payments shall be made at such times as are set forth in this Agreement):

(a)         
first, to each Senior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to the accrued and unpaid interest
on its applicable Senior Note Principal Balance at the applicable Net Senior Note Rate;

(b)          second, to each Senior Noteholder in an amount equal to all amounts collected on the Mortgage Loan, on a Pro Rata and Pari
Passu Basis, based on its applicable Senior Note Principal Balance, until the Senior Note Principal Balance for each such Note
has been reduced to zero;

(c)         
third, to each Senior Noteholder on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses
paid by such Senior Noteholder including any Recovered Costs not previously reimbursed to such Senior Noteholder (or paid or advanced
by any Servicer on its behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement
or the Servicing Agreement;

(d)           fourth, to each Senior Noteholder on a Pro Rata and Pari Passu Basis in an amount equal to the product of (i) the applicable
Senior Note Percentage Interest, (ii) the Senior Note Relative Spread, and (iii) any Prepayment Premium to the extent paid by the
Mortgage Loan Borrower;

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(e)         
fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or the Mortgaged Property exceed
the amounts required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout, the Senior
Note Principal Balance has been reduced, such excess amount shall be paid to the Senior Noteholder, on a Pro Rata and Pari Passu
Basis, in an amount up to the reduction, if any, of its applicable Senior Note Principal Balance as a result of such Workout, plus
interest on such amount at the related Senior Note Rate;

(f)         
sixth, to the extent a Junior Noteholder has made any payments or advances to cure defaults pursuant to Section 12,
to reimburse the Junior Noteholder for all such cure payments; and to the Junior Noteholder in the amount of any other unreimbursed
reasonable out-of-pocket costs and expenses paid by the Junior Noteholder in connection with any cure of a non-monetary default
pursuant to Section 12, to the extent reimbursable by, but not previously reimbursed by, the Mortgage Loan Borrower;

(g)          seventh, to each Junior Noteholder, on a Pro Rata and Pari Passu Basis, in an amount equal to the accrued and unpaid interest
on its applicable Junior Note Principal Balance at the applicable Net Junior Note Rate;

(h)          eighth, to each Junior Noteholder on a Pro Rata and Pari Passu Basis, in an amount equal to all amounts allocated as principal
on the Mortgage Loan (including, for the avoidance of doubt, any Insurance Proceeds or Condemnation Proceeds allocated as principal
on the Mortgage Loan), until its applicable Junior Note Principal Balance has been reduced to zero;

(i)          
ninth, to each Junior Noteholder on a Pro Rata and Pari Passu Basis in an amount equal to the product of (i) the applicable
Junior Note Percentage Interest, (ii) the Junior Note Relative Spread and (iii) any Prepayment Premium to the extent paid by the
Mortgage Loan Borrower;

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

(k)          eleventh, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be otherwise
applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to
pay any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments relate
to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan Borrower, shall be
paid, pro rata, to each Senior Noteholder and each Junior Noteholder in accordance with its applicable Senior Note Percentage Interests
and its applicable Junior Note Percentage Interest, respectively; and

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(l)          
twelfth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied
in accordance with the foregoing clauses (a)-(k), any remaining amount shall be paid, pro rata, to each Senior Noteholder
and each Junior Noteholder in accordance with its applicable Senior Note Percentage Interests and its applicable Junior Note Percentage
Interest, respectively.

Section 5.         
Administration of the Mortgage Loan.

(a)         
Subject to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement, and consistent
with the Servicing Standard, the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder)
shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect
to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan
Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents,
call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy and no other
Noteholder shall have any voting, consent or other rights whatsoever with respect to the Lead Securitization Noteholder’s
administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan except as set forth in this Agreement
and the Servicing Agreement including the rights of the Junior Noteholder in their capacity as the Controlling Noteholder to consent
to the Major Decisions set forth in this Agreement. Subject to this Agreement and the Servicing Agreement (including, without limitation,
Section 5(f) below), and consistent with the Servicing Standard, each Non-Lead Securitization Noteholder and Junior Noteholder
agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder
(or any Servicer acting on behalf of the Lead Securitization Noteholder) the rights, if any, that such Non-Lead Securitization
Noteholder or Junior Noteholder has to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under
the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including,
without limitation, filing or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Mortgage Loan
Borrower. The Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall not
have any fiduciary duty to any Non-Lead Securitization Noteholder and or the Junior Noteholder in connection with the administration
of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder from the obligation to make any disbursement
of funds as set forth herein).

Subject to Section
12 and Section 13 hereof, upon the Mortgage Loan becoming a Defaulted Loan, each Non-Lead Noteholder hereby acknowledges
the right and obligation of the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization
Noteholder) to sell each Non-Lead Note together with the Lead Securitization Note as notes evidencing one whole loan in accordance
with the terms of the Servicing Agreement. In connection with any such sale (and subject to Section 12 and Section 13
hereof), the Special Servicer may, in accordance with the terms and provisions of the Servicing Agreement and subject to the Servicing
Standard, elect to sell (1) the Mortgage Loan, subject to the consent right of the Controlling Noteholder (or its Junior Operating
Advisor), in which case such sale would include each of the Senior Notes and the Junior Note as determined by the

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Special Servicer
in accordance with the Servicing Standard, in which case of this clause (1), the Special Servicer shall provide notice to
each Non-Controlling Noteholder of the planned sale and of such Non-Controlling Noteholder’s opportunity to submit an offer
on the Senior Notes and Junior Note together, or (2) the Senior Notes together, in which case of this clause (2), the Special
Servicer shall provide notice to the Non-Lead Master Servicer who shall provide notice to the related Non-Controlling Pari Passu
Noteholder of the planned sale and of such Non-Controlling Pari Passu Noteholder’s opportunity to submit an offer on the
Senior Notes together, and shall require that all offers be submitted to the Trustee in writing. Whether any cash offer constitutes
a fair price for the Notes shall be determined by the Trustee; provided, that no offer from an Interested Person shall constitute
a fair price unless (i) it is the highest offer received and (ii) at least two bona fide other offers are received from independent
third parties. In determining whether any offer received represents a fair price for the Notes, the Trustee shall be supplied with
and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Servicing Agreement within the
preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select the appraiser
conducting any such new Appraisal. In determining whether any such offer constitutes a fair price for the Notes, the Trustee shall
instruct the appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have
obtained pursuant to the Servicing Agreement), as applicable, among other factors, the period and amount of any delinquency on
the affected the Notes, the occupancy level and physical condition of the related Mortgaged Property and the state of the local
economy. The Trustee may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real estate
matters retained by the Trustee at the expense of the Noteholders in connection with making such determination. Notwithstanding
the foregoing, the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) shall not be permitted to sell
the Notes if they become a Defaulted Loan without the written consent of the Non-Controlling Pari Passu Noteholder (provided
that such consent is not required if the Non-Controlling Pari Passu Noteholder is a Borrower Party or a Borrower Party Affiliate)
unless the Special Servicer has delivered to the Non-Controlling Pari Passu Noteholder: (a) at least 15 Business Days’ prior
written notice of any decision to attempt to sell the Notes; (b) at least 10 days prior to the proposed sale date, a copy of each
bid package (together with any material amendments to such bid packages) received by the Special Servicer in connection with any
such proposed sale, (c) at least 10 days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage
Loan, and any documents in the Servicing File reasonably requested by the Non-Controlling Pari Passu Noteholder that are material
to the price of the Notes and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded
to the 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 Special Servicer in connection with
the proposed sale; provided, that such Non-Controlling Pari Passu Noteholder may waive any of the delivery or timing requirements
set forth in this sentence. Subject to the terms of the Servicing Agreement, each of the Controlling Noteholder, the Controlling
Class Representative, the Junior Noteholder, the Non-Controlling Noteholder (or any controlling class representative or directing
holder on its behalf under the Non-Lead Securitization Servicing Agreement) shall be permitted to bid at any sale of the Notes
unless such Person is a Borrower Party or a Borrower Party Affiliate.

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

The authority and
obligation of the Lead Securitization Noteholder to sell the Non-Lead Notes, and the obligations of the Non-Lead Noteholders to
execute and deliver instruments or deliver the Non-Lead Notes upon request of the Lead Securitization Noteholder, shall terminate
and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased by
the Initial Note A-1 Holder from the Lead Securitization Trust in connection with a material breach of representation or warranty
made by the Initial Note A-1 Holder with respect to the Lead Securitization Note or a material document defect with respect to
the documents delivered by the Initial Note A-1 Holder with respect to the Lead Securitization Note upon the consummation of the
Lead Securitization. The preceding sentence shall not be construed to grant to the Non-Lead Securitization Noteholder the benefit
of any representation or warranty made by the Initial Note A-1 Holder or any document delivery obligation imposed on the Initial
Note A-1 Holder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that
may be executed or delivered by the Initial Note A-1 Holder in connection with the Lead Securitization.

Notwithstanding anything
to the contrary set forth in this Section 5(a) or in any other provision of this Agreement, in no event may the Special
Servicer, pursuant to the Servicing Agreement or otherwise, elect to sell, market to sell or actually sell the Junior Note without
first having obtained the prior written consent of the Junior Noteholder, such consent to be delivered in the sole and absolute
discretion of the Junior Noteholder.

(b)              
Subject to Section 2(d)(vii) above, the administration of the Mortgage Loan shall be governed by this Agreement and
the Servicing Agreement. Subject to Section 2(d)(vii) above, each Noteholder agrees to be bound by the terms of this Agreement
and the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall service the Mortgage Loan
in accordance with the terms of this Agreement, including without limitation, the rights of the Junior Noteholder set forth in
Section 5(f) below and consistent with the Servicing Standard. Servicing of the Mortgage Loan shall be carried out by the
Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan, by the Special Servicer, in each case pursuant
to the Servicing Agreement and consistent with the Servicing Standard. Notwithstanding anything to the contrary contained herein,
in accordance with the Servicing Agreement, the Lead Securitization Noteholder shall cause the Master Servicer and the Special
Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests
of each of the Noteholders as a collective whole (it being understood that the interest of the Junior Noteholder is subordinate
to the interest of the

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Senior Noteholders, subject to the terms and conditions of this Agreement, including without limitation
the rights of the Controlling Noteholder), and the Junior Noteholder (so long as the Junior Noteholder is not a Borrower Party
or a Borrower Party Affiliate) shall be deemed a third party beneficiary of such provisions of the Servicing Agreement. The foregoing
provisions of this Section 5(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Junior
Operating Advisor to exercise their respective rights specifically set forth under this Agreement.

(c)         
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and this Agreement (including, without limitation, Section 2(d)(vii), Section 5(f) and Section 6), if the
Lead Securitization Noteholder in connection with a Workout of the Mortgage Loan modifies the terms thereof such that (i) the
unpaid principal balance of the Mortgage Loan is decreased, (ii) the Interest Rate or scheduled amortization payments on such
Mortgage Loan are reduced, (iii) payments of interest or principal on such Mortgage Loan are waived, reduced or deferred or
(iv) any other adjustment (other than an increase in the Interest Rate or increase in scheduled amortization payments) is
made to any of the terms of the Mortgage Loan, all payments to the Senior Noteholders pursuant to Section 3 and Section 4,
as applicable, shall be made as though such Workout did not occur, with the payment terms of the Senior Notes remaining the same
as they are on the date hereof, the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage
Loan attributable to such Workout shall be borne, first, by the Junior Noteholder (pro rata based on the Principal
Balances of their respective Notes), and then, by the Senior Noteholders (pro rata based on the Principal Balances
of their respective Notes), in that order, in each case up to the amount otherwise due on such Note(s). Subject to the Servicing
Agreement and this Agreement (including without limitation Sections 5(f) and 6), in the case of any modification
or amendment described above, the Lead Securitization Noteholder will have the sole authority and ability to revise the payment
provisions set forth in Section 3 and Section 4 above in a manner that reflects the subordination of the
Junior Note to the Senior Notes with respect to the loss that is the result of such amendment or modification, including: (i) the
ability to increase the Senior Note Percentage Interest and to increase or reduce, as applicable, the Junior Note Percentage Interest
in a manner that reflects a loss in principal as a result of such amendment or modification and (ii) the ability to change
the Senior Note Rate and the Junior Note Rate, as applicable, in order to reflect a reduction in the Interest Rate of the Mortgage
Loan but shall not be permitted to change the order of the clauses set forth in Sections 3 and 4 hereof. Notwithstanding
the foregoing, if any Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage
Loan, for purposes of this paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage
Loan but will be deemed due on the extended maturity date of the Mortgage Loan.

(d)              
All rights and obligations of the Lead Securitization Noteholder described hereunder may be exercised by the Servicers on
behalf of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement. The Junior Noteholder
shall be provided access to any website that a Privileged Person (other than a Rating Agency) would be permitted to access in accordance
with the procedures set forth in the Servicing Agreement, it being understood and agreed that the Junior Noteholder is subject
to any restrictions on the access to such websites contained in the Servicing Agreement and such access need not be

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granted if
the Junior Noteholder or the related Note is held by a Borrower Party or a Borrower Party Affiliate.

(e)         
If any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the
Mortgage Loan shall be administered such that the Notes shall each qualify at all times as (or as interests in) a “qualified
mortgage” within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired
by or on behalf of the Noteholders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure
of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interests of
the Noteholders therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent
from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Noteholders
may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the
Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury, more
than three months after the earliest startup day of any REMIC which includes the Lead Securitization Note (or any portion thereof).
The Noteholders agree that the provisions of this Section 5(e) shall be effected by compliance by the Lead Securitization Noteholder
or its assignees with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the
Mortgage Loan or the Lead Securitization Noteholder’s interests therein. All costs and expenses of compliance with this Section
5(e), to the extent that such costs and expenses relate to administration of a REMIC or to any determination respecting the
amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall be
borne by the Senior Noteholders on a Pro Rata and Pari Passu Basis.

Anything herein or
in the Servicing Agreement to the contrary notwithstanding, in the event that one of any Senior Note is included in a REMIC and
the other is not, such other Noteholder shall not be required to reimburse such Noteholder that deposited its respective Note in
the REMIC or any other Person for payment of (i) any taxes imposed on such REMIC, (ii) any costs or expenses relating to the administration
of such REMIC or to any determination respecting the amount, payment or avoidance of any tax under such REMIC or (iii) any advances
for any of the foregoing or any interest thereon or for deficits in other items of disbursement or income resulting from the use
of funds for payment of any such taxes, costs or expenses or advances, nor shall any disbursement or payment otherwise distributable
to the other Noteholders be reduced to offset or make-up any such payment or deficit.

(f)         
(i)          Subject to clauses (ii) and (iii) below, prior to the Lead Securitization Noteholder or Servicer taking any consent,
modification, amendment or waiver under or taking any other action in respect of a Mortgage, the Mortgage Loan or the Mortgage
Loan Documents (whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute a Major Decision,
the Servicer shall provide the Controlling Noteholder (or its Junior Operating Advisor) with at least ten (10) Business Days (or,
in the case of a determination of an Acceptable Insurance Default, twenty (20) days) prior notice requesting consent to the requested
Major Decision. Neither the Lead Securitization Noteholder nor the Servicer shall take any action with respect to such Major Decision
(or making a determination not to take action

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with respect to such Major Decision), unless and until the Lead Securitization Noteholder
or the Servicer, as applicable, receives the written consent of the Controlling Noteholder (or its Junior Operating Advisor) before
implementing a decision with respect to such Major Decision.

(ii)           
If the Lead Securitization Noteholder (or the Servicer acting on its behalf) has not received a response from the Controlling
Noteholder (or its Junior Operating Advisor) with respect to such Major Decision within ten (10) Business Days after delivery of
the notice of a Major Decision, the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) shall deliver
an additional copy of the notice of a Major Decision in all caps bold 14-point font: “THIS IS A SECOND NOTICE. FAILURE TO
RESPOND WITHIN FIVE (5) BUSINESS DAYS OF THIS SECOND NOTICE WILL RESULT IN A LOSS OF YOUR RIGHT TO CONSENT WITH RESPECT TO THIS
DECISION.” and if the Controlling Noteholder (or its Junior Operating Advisor) fails to respond to the Lead Securitization
Noteholder (or the Servicer acting on its behalf) with respect to any such proposed action within five (5) Business Days after
receipt of such second notice, the Controlling Noteholder (or its Junior Operating Advisor), as applicable, shall have no further
consent rights solely with respect to the specific action set forth in such notice, provided, however, that such failure to reply
shall not affect the rights of Controlling Noteholder to consent to any future actions. Notwithstanding the foregoing, or if a
failure to take any such action at such time would be inconsistent with the Servicing Standard, the Servicer may take actions with
respect to such Mortgaged Property before obtaining the consent of the Controlling Noteholder (or its Controlling Noteholder Representative)
if the Servicer reasonably determines in accordance with the Servicing Standard that failure to take such actions prior to such
consent would materially and adversely affect the interest of the Noteholders as a collective whole, and the Servicer has made
a reasonable effort to contact the Controlling Noteholder. The foregoing shall not relieve the Lead Securitization Noteholder (or
a Servicer acting on its behalf) of its duties to comply with the Servicing Standard.

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

The Special Servicer
shall be required to provide copies to each Non-Controlling Noteholder of any notice, information and report that is required to
be provided to the Controlling Noteholder pursuant to the Servicing Agreement with respect to any Major Decisions or the implementation
of any recommended actions outlined in an Asset Status Report within the same time frame such notice, information and report is
required to be provided to the Controlling Noteholder (for this purpose, without regard to whether such items are actually

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required
to be provided to the Controlling Noteholder under the Servicing Agreement due to the occurrence of a Control Termination Event
or a Consultation Termination Event (as each such term is defined in the Servicing Agreement)), and at any time the Controlling
Noteholder is the Note A-1 Holder, the Special Servicer shall be required to consult with each Non-Controlling Pari Passu
Noteholder on a strictly non-binding basis, to the extent having received such notices, information and reports, any Non-Controlling
Pari Passu Noteholder requests consultation with respect to any such Major Decisions or the implementation of any recommended actions
outlined in an Asset Status Report, and consider alternative actions recommended by such Non-Controlling Pari Passu Noteholder;
provided that after the expiration of a period of ten (10) Business Days from the delivery to each Non-Controlling Pari Passu Noteholder
by the Special Servicer of written notice of a proposed action, together with copies of the notice, information and reports, the
Special Servicer shall no longer be obligated to consult with such Non-Controlling Pari Passu Noteholders, whether or not such
Non-Controlling Pari Passu Noteholders have responded within such ten (10) Business Day period.

(g)              
The Junior Noteholder, if then the Controlling Noteholder, shall be entitled to avoid a Control Appraisal Period caused
by application of an Appraisal Reduction Amount upon satisfaction of the following (which must be completed within forty-five (45)
days of the receipt by the Master Servicer or the Special Servicer, as applicable, of a third party Appraisal that indicates such
Control Appraisal Period has occurred (which such Appraisal the Master Servicer or the Special Servicer, as applicable, will be
required to deliver to the Controlling Noteholder within two Business Days of receipt by the Master Servicer or the Special Servicer,
as applicable, of such third party Appraisal)) together with the Master Servicer’s calculation of the Appraisal Reduction
Amount applicable to the related Junior Note: (i) such Controlling Noteholder shall have delivered Threshold Event Collateral as
a supplement to the appraised value of the Mortgaged Property, in the amount specified in clause (ii) below, to the Servicer, together
with documentation acceptable to the Servicer in accordance with the Servicing Standard to create and perfect a first priority
security interest in favor of the Servicer on behalf of the Senior Noteholders in such collateral (a) cash collateral for the benefit
of the Servicer or (b) an unconditional and irrevocable standby letter of credit with the Senior Noteholders as the beneficiaries,
issued by a bank or other financial institutions the long term unsecured debt obligations of which are rated at least “AA”
by S&P, “A” by Fitch and “Aa2” by Moody’s or the short term obligations of which are rated at
least “A-1+” by S&P, “F-1” by Fitch and “P-1” by Moody’s, in each case ignoring any
of the foregoing ratings requirements with respect to any rating agency that is not one of the Rating Agencies (either (a) or (b),
the “Threshold Event Collateral”), and (ii) the Threshold Event Collateral shall be in an amount which, when
added to the appraised value of the Mortgaged Property as determined pursuant to the Servicing Agreement, would cause the applicable
Control Appraisal Period not to occur. If the requirements of this paragraph are satisfied by the Controlling Noteholder (a “Threshold
Event Cure”), no Control Appraisal Period caused by application of an Appraisal Reduction Amount shall be deemed to have
occurred. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder shall be required
to renew such letter of credit not later than thirty (30) days prior to expiration thereof or to replace such letter of credit
with a substitute letter of credit or other Threshold Event Collateral with an expiration date that is greater than forty-five
(45) days from the date of substitution; provided, however, that, if a letter of credit is not renewed prior to thirty
(30) days prior to the expiration date of such letter of credit, the letter of credit shall provide that the Servicer may (and
at the direction of the

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applicable Controlling Noteholder, shall) draw upon such letter of credit and hold the proceeds thereof
as Threshold Event Collateral. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder
shall be required to replace such letter of credit with other Threshold Event Collateral within 30 days if the credit ratings of
the issuing entity are downgraded below the required ratings; provided, however, that, if such Threshold Event Collateral
is not so replaced, the Servicer shall draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral.
The Threshold Event Cure shall continue until (i) the appraised value of the Mortgaged Property plus the value of the Threshold
Event Collateral would not be sufficient to prevent a Control Appraisal Period from occurring; or (ii) the occurrence of a Final
Recovery Determination. If the appraised value of the Mortgaged Property, upon any redetermination thereof, is sufficient to avoid
the occurrence of a Control Appraisal Period without taking into consideration any, or some portion of, Threshold Event Collateral
previously delivered by the Controlling Noteholder, any or such portion of Threshold Event Collateral held by the Servicer shall
promptly be returned to such Controlling Noteholder (at its sole expense). Upon a Final Recovery Determination with respect to
the Mortgage Loan, such Threshold Event Collateral shall be available to reimburse each Noteholder for any realized loss pursuant
to Section 3 or 4, as applicable, with respect to the Mortgage Loan after application of the net proceeds of liquidation, not in
excess of the Senior Note Principal Balance and the Junior Note Principal Balance, as the case may be, plus accrued and unpaid
interest thereon at the applicable interest rate and all other Additional Servicing Expenses reimbursable under this Agreement
and under the Servicing Agreement. Any Threshold Event Collateral shall be treated as an “outside reserve fund” for
purposes of the REMIC Provisions and such property (and the right to reimbursement of any amounts with respect thereto from a REMIC)
shall be beneficially owned by the posting Noteholder who shall be taxed on all income with respect thereto. The entire amount
of Threshold Event Collateral, without a haircut or other reduction, shall be considered in determining the sufficiency of such
Threshold Event Collateral to avoid a Control Appraisal Period.

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

(i)          
Regardless of whether a Control Appraisal Period is in effect with respect to the Junior Note, each of the Master Servicer
and the Special Servicer shall provide to the Junior Noteholder (or, in lieu thereof, a “shadow” servicer appointed
by such Junior Noteholder) copies of all notices, reports and information that the Servicing Agreement requires such Master Servicer
or Special Servicer, as the case may be, to provide to the Controlling Noteholder during such time as no Control Appraisal Period
is in effect, provided that if an interest in the Controlling Noteholder or the related Note is held by a Borrower Party or a Borrower
Party Affiliate, then the Controlling Noteholder (or its “shadow” servicer) shall not be entitled to receive the Asset
Status Report or any other information relating to the Special Servicer’s workout strategy, nor any “excluded information”
or analogous term under the Servicing Agreement.

(j)          
In no case shall the Initial Senior Noteholders name as a mortgagee under the Mortgage (or assign the Mortgage to) any other
Person, other than the Trustee in connection with a Securitization, which Trustee shall hold the Mortgage for the benefit of the
Noteholders, and in no case shall the Trustee name as a mortgagee under the Mortgage (or assign the

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Mortgage to) any other Person,
other than a successor Trustee unless the Note B Holder is then also named as a mortgagee under the Mortgage.

Section 6.         
Appointment of Junior Operating Advisor.

(a)         
The Junior Noteholders shall have the right at any time to appoint an operating advisor to exercise their rights hereunder
(the “Junior Operating Advisor”). The initial Junior Operating Advisor is set forth in the definition of Junior
Operating Advisor. The Junior Noteholders shall have the right in their sole discretion at any time and from time to time to remove
and replace the Junior Operating Advisor. When exercising their various rights under Section 5 and otherwise pursuant to
this Agreement, the Junior Noteholders shall act through the Junior Operating Advisor. No Person shall rely on any action taken
by the Junior Noteholder unless such action is taken through the Junior Operating Advisor. The Junior Operating Advisor may be
any Person (other than a Borrower Party or a Borrower Party Affiliate), including, without limitation, the Junior Noteholder, any
officer or employee of the Junior Noteholder, any Affiliate of the Junior Noteholder or any other unrelated third party. The Junior
Operating Advisor shall not owe any fiduciary duty or other duty to any other Person (other than the Junior Noteholder). All actions
that are permitted to be taken by the Junior Noteholder under this Agreement shall be taken by the Junior Operating Advisor acting
on behalf of the Junior Noteholder and the Lead Securitization Noteholder (and any Servicer) will treat and recognize such actions
of the Junior Operating Advisor as actions of the Junior Noteholders. Lead Securitization Noteholder (or any Servicer on its behalf)
may rely upon the appointment of the initial Junior Operating Advisor and shall not be required to recognize any Person (other
than the initial Junior Operating Advisor) as an Junior Operating Advisor until the Junior Noteholder has notified the Lead Securitization
Noteholder (and any Servicer) of such appointment and, if the Junior Operating Advisor is not the same Person as the Junior Noteholder,
the Junior Operating Advisor provides the Lead Securitization Noteholder (and any Servicer) with written confirmation of its acceptance
of such appointment, an address, any fax number and any email address for the delivery of notices and other correspondence and
a list of officers or employees of such person with whom the parties to this Agreement may deal (including their names, titles,
work addresses, telephone numbers, any fax numbers and any email addresses). The Lead Securitization Noteholder shall promptly
deliver such information to any Servicer.

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

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interests, and that neither the Junior Operating Advisor nor the Junior Noteholder will be deemed to have
been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded
any exercise of its rights by reason of its having acted or refrained from acting solely in the interests of any Noteholder. Notwithstanding
any of the foregoing, the provisions of this subsection (b) shall not limit the obligations of any one or more Noteholders that
are Earnout Holders under Section 11.

(c)         
If the Lead Securitization Noteholder is the Controlling Noteholder, the Junior Noteholder acknowledges and agrees that
all of the aforementioned rights and obligations of the Controlling Noteholder and the Junior Operating Advisor set forth in Section
5(f) and 5(g) and this Section 6 shall be exercisable by the Lead Securitization Noteholder (or the applicable Person specified
in the Servicing Agreement) to the extent set forth in the Servicing Agreement.

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

The Controlling Noteholder
agrees and acknowledges that the Lead Securitization Servicing Agreement may contain provisions such that any Special Servicer
may be terminated under the Lead Securitization Servicing Agreement based on a recommendation by the Operating Advisor if (A) the
Operating Advisor determines, in its sole discretion exercised in good faith, that (1) the Special Servicer has failed to comply
with the Servicing Standard and (2) a replacement of the Special Servicer would be in the best interest of the holders of securities

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issued under the Lead Securitization Servicing Agreement (as a collective whole) and (B) an affirmative vote of requisite certificateholders
is obtained. The Controlling Noteholder will retain its right to remove and replace the Special Servicer, but the Controlling Noteholder
may not re-appoint or otherwise restore a Special Servicer that has been removed in accordance with the preceding sentence.

Section 8.         
Payment Procedure.

(a)         
The Lead Securitization Noteholder (or the Servicer on its behalf), in accordance with the priorities set forth in Section
3 or 4, as applicable, and subject to the terms of the Servicing Agreement, shall deposit or cause to be deposited all payments
allocable to the Notes to the Collection Account or Serviced Whole Loan Collection Account for the Notes established pursuant to
the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall establish a segregated sub-account
for amounts due to the each Noteholder. The Lead Securitization Noteholder (or the Servicer acting on its behalf) shall deposit
such amounts to the applicable account within one (1) Business Day following the Lead Securitization Noteholder’s (or the
Servicer’s acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan
Borrower; provided, however, that to the extent any such amounts are received after 2:00 p.m. Eastern time on
any given Business Day, the Master Servicer shall use commercially reasonable efforts to deposit such amounts into the applicable
account within one (1) Business Day of receipt thereof but, in any event, the Master Servicer shall deposit such amounts into the
applicable account within two (2) Business Days of receipt thereof; and provided, further, that in the event the
Master Servicer is in receipt of properly identified funds that are not available to the Master Servicer, the Master Servicer may
instead deposit such amounts into the Collection Account and Whole Loan Collection Account, as applicable, on the same Business
Day that such properly identified funds become available to the Master Servicer. The Master Servicer shall remit such amounts to
which (1) the Junior Noteholders are entitled within one (1) Business Days following the deposit of funds pursuant to the provisions
set forth above and (2) the Non-Lead Securitization Noteholders are entitled no later than the Master Servicer Remittance Date
under the Servicing Agreement.

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

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

(d)              
Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Holder (or the
Servicer on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the terms of this
Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts due hereunder
from Non-Lead Securitization Noteholders and Junior Noteholder with respect to the Mortgage Loan against any future payments due
to the Non-Lead Securitization Noteholders and the Junior Noteholder under the Mortgage Loan, provided, that each Noteholder’s
obligations under this Section 8 are separate and distinct obligations from one another and in no event shall the Lead Securitization
Noteholder (or the Servicer on its behalf) enforce the obligations of one Noteholder against another Noteholder. Each Noteholder’s
obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

Section 9.         
Limitation on Liability of the Noteholders. No Noteholder (including any Servicer on a Noteholder’s behalf)
shall have any liability to any other Noteholder except with respect to losses actually suffered due to the gross negligence, willful
misconduct or breach of this Agreement on the part of such Noteholder.

The Junior Noteholder
acknowledges that, subject to the terms and conditions hereof and the obligation of the Lead Securitization Noteholder (including
any Servicer) to comply with, and except as otherwise required by, the Servicing Standard, the Lead Securitization Noteholder
(including any Servicer) may exercise, or omit to exercise, any rights that the Lead Securitization Noteholder may have under
this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of the Junior Noteholder and that
the Lead Securitization Noteholder (including any Servicer) shall have no liability whatsoever to the Junior Noteholder in connection
with the Lead Securitization Noteholder’s exercise of rights or any omission by the Lead Securitization Noteholder to exercise
such rights other than as described above; provided, however, that such Servicer must act in accordance with the
Servicing Standard.

The Junior Noteholder
acknowledges that, subject to the terms and conditions hereof and the obligation of any Non-Lead Securitization Noteholder (including
any Non-Lead Servicer) to comply with, and except as otherwise required by, the Servicing Standard (as if such standard was applicable
to any Non-Lead Securitization Noteholder as a “servicer” thereunder), each Non-Lead Securitization Noteholder (including
any Non-Lead Servicer) may exercise, or omit to exercise, any rights that such Non-Lead Securitization Noteholder may have under
this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of the 

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Junior Noteholder and
that any Non-Lead Securitization Noteholder (including any Non-Lead Servicer) shall have no liability whatsoever to the Junior
Noteholder in connection with any Non-Lead Securitization Noteholder’s exercise of rights or any omission by a Non-Lead
Securitization Noteholder to exercise such rights other than as described above; provided, however, that the Non-Lead
Servicer must act in accordance with the servicing standard under the Non-Lead Securitization Servicing Agreement.

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

In no event shall
any provision of this Section 9 be construed to limit any provision set forth in Section 11.

Section 10.           
Bankruptcy. Subject to the provisions of Section 5(f) hereof and the Servicing Standard, each Noteholder hereby
covenants and agrees that only the Lead Securitization Noteholder (or the Servicer on its behalf) has the right to institute, file,
commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise
invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek
to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage
Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage
Loan Borrower. Subject to the provisions of Section 5(f) hereof and the Servicing Standard, each Noteholder further agrees
that only the Lead Securitization Noteholder, as a creditor, can make any election, give any consent, commence any action or file
any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding. Subject to the provisions of Section 5(f) hereof,
the Noteholders hereby appoint the Lead Securitization Noteholder as their agent, and grant to the Lead Securitization Noteholder
an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and
taking any and all actions available to any one or more of the Note A-2 Holder, the Note A-3 Holder, the Note B-1 Holder, the Note
B-2 Holder, the Note B-3 Holder and the Note B-4 Holder, in connection with any case by or against the Mortgage Loan Borrower under
the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any
claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage
Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Noteholders,
hereby agree that, upon the request of the Lead Securitization Noteholder but subject to the provisions of Section 5(f),
such Noteholder shall execute, acknowledge and deliver to the Lead Securitization Noteholder all and every such further deeds,
conveyances and instruments as the Lead Securitization Noteholder may reasonably request for the better assuring and evidencing
of the foregoing appointment and grant.

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All actions taken by any Servicer in connection with any Insolvency Proceeding are subject
to and must be in accordance with the Servicing Standard.

Section 11.           
Earnout Advance.

(a)         
Each Earnout Holder hereby agrees to advance to the Mortgage Loan Borrower its pro rata portion (on the basis of each such
Note’s maximum principal amount) of the Earnout Advance required to be made under the Mortgage Loan Documents upon the satisfaction
by the Mortgage Loan Borrower of the conditions thereto, it being the specific intent of the parties hereto that the Note A-1 Noteholder,
Note B-1 Noteholder and Note B-2 Noteholder shall not be liable for making the Earnout Advance. Each Earnout Holder shall remit
its pro rata portion of the Earnout Advance on the date that the Earnout Advance is required to be made pursuant to the Mortgage
Loan Documents. The parties hereto agree that (i) the determination of whether the Mortgage Loan Borrower is entitled to receive
any Earnout Advance shall rest solely with the Earnout Holders, which shall be responsible for conducting any and all due diligence,
loan documentation and pre-funding requirements in connection therewith and (ii) each Earnout Holder shall be solely responsible
for funding its pro rata portion of the Earnout Advance following such determination that the Mortgage Loan Borrower is entitled
to receive the Earnout Advance. Notwithstanding the foregoing, no Earnout Holder or servicer therefor may waive a condition to
the Earnout Advance without the written consent of Note A-1 Holder or, after the Lead Securitization, the Master Servicer. No action
or conduct of any agent or “shadow” servicer or CBRE as non-cashiering subservicer appointed in accordance with Section
2(p) hereof shall limit any obligation or liability of any Earnout Holders as set forth above or otherwise under this Section 11.
For so long as the Earnout Advance Obligation has not been fully discharged and the Securitization is outstanding, the Earnout
Notes shall only be transferred to (i) a transferee that is a Qualified Institutional Lender and has (A) a long-term unsecured
debt rating of at least “AA” or the equivalent from each Rating Agency then rating any Certificates and (B) a short-term
unsecured debt rating of “P-1” or better by Moody’s, (ii) a transferee that is a person as to which the
Senior Noteholders have received confirmation in writing from each Rating Agency that such Transfer will not result in a qualification,
downgrade or withdrawal of its then current ratings of the certificates issued pursuant to the Securitization, which confirmation
will not be predicated upon any action by the Mortgage Loan Borrower, or (iii) any life insurance company that is an Initial Noteholder
or affiliate thereof with assets in excess of $600 million. In addition, the transferee shall assume all additional funding obligations
pursuant to an assignment and assumption agreement whereby such transferee agrees to be bound by all provisions applicable to the
Earnout Holder under the Mortgage Loan Agreement and this Agreement.

(b)              
Each Earnout Holder (each, an “Indemnifying Party”) shall indemnify, severally and not jointly, and hold
harmless Note A-1 Holder, Note B-1 Holder and Note B-2 Holder, every Servicer, the Note Administrator and the Trustee (each an
“Indemnified Party”), against any and all losses, claims, damages, costs, expenses (including the fees and disbursements
of outside counsel retained by any such person) and liabilities in connection with, arising out of, or as a result of the such
Earnout Holder’s acts or omissions with respect to any obligations to make the Earnout Advance, including without limitation,
(i) any claims made by the Mortgage Loan Borrower or its Affiliates or (ii) any failure of payment by the Mortgage Loan
Borrower under the Mortgage Loan, in each case that results from a failure to make any

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additional advance as required under the
Mortgage Loan Documents, except, as to such Indemnified Party, to the extent that it is finally judicially determined that any
losses, claims, damages, costs, expenses or liabilities resulted primarily from the bad faith or willful misconduct of such Indemnified
Party. Each Indemnified Party shall be a third party beneficiary of this Agreement with respect to the indemnification obligations
of the Indemnifying Party set forth in this Section 11. In the event that an Indemnified Party becomes involved in any action,
proceeding or investigation in connection with any transaction or matter referred to or contemplated by this Agreement, the Indemnifying
Party shall periodically reimburse such Indemnified Party upon demand therefor in an amount equal to its reasonable legal and other
expenses (including the costs of any investigation and preparation) incurred in connection therewith to the extent such legal or
other expenses are the subject of indemnification hereunder. In addition, the Indemnifying Party agrees that each Indemnified Party
may deduct and offset any amount to be indemnified hereunder from and against any amount that is otherwise due to the Indemnifying
Party under this Agreement or the Servicing Agreement. The indemnification obligations of the Indemnifying Party hereunder shall
survive any termination of the Agreement. Each Indemnified Party’s rights pursuant to this Section 11 are in addition
to any other rights it may have at law or in equity.

(c)         
Each Earnout Holder shall provide notice of the making of the Earnout Advance under the Mortgage Loan to Note A-1 Holder,
Note B-1 Holder and Note B-2 Holder, the Servicer, the Special Servicer and the Operating Advisor.

Section 12.           
Cure Rights of the Junior Noteholder.

(a)         
Subject to Section 12(b) below, in the event that the Mortgage Loan Borrower fails to make any payment of principal
or interest on the Mortgage Loan by the end of the applicable grace period (the “Grace Period”) for such payment
permitted under the applicable Mortgage Loan Documents (a “Monetary Default”), the Lead Securitization Noteholder
shall provide written notice to the Junior Noteholder and the Junior Operating Advisor of such default (the “Monetary
Default Notice”). The Junior Noteholder shall have the right, but not the obligation, to cure such Monetary Default within
seven (7) Business Days after receiving the Monetary Default Notice (the “Cure Period”) and at no other times.
The Monetary Default Notice shall contain a statement in boldface font that the Junior Noteholder or the Junior Operating Advisor’s
failure to cure such Monetary Default within seven (7) Business Days after receiving such notice will result in the termination
of the right to cure such Monetary Default. At the time a payment is made to cure a Monetary Default, the Junior Noteholder shall
pay or reimburse the Lead Securitization Noteholder for all unreimbursed Advances (whether or not recoverable with respect to the
Senior Notes, including principal and interest advances made with respect to Note A-2 under any Non-Lead Securitization Servicing
Agreement), interest payable on Advances, any unpaid fees to any Servicer and any Additional Servicing Expenses. The Junior Noteholder
shall not be required, in order to effect a cure hereunder, to pay any default interest or late charges under the Mortgage Loan
Documents. So long as a Monetary Default exists for which a cure payment permitted hereunder is made, such Monetary Default shall
not be treated as an Event of Default by the Lead Securitization Noteholder or the Non-Lead Securitization Noteholder (including
for purposes of (i) the definition of “Sequential Pay Event,” (ii) accelerating the Mortgage Loan, modifying,
amending or waiving any provisions of the Mortgage Loan Documents or commencing proceedings for foreclosure or the taking of title

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by deed-in-lieu of foreclosure or other similar legal proceedings with respect to the Mortgaged Property; or (iii) treating the
Mortgage Loan as a Specially Serviced Mortgage Loan); provided that such limitation shall not prevent the Lead Securitization
Noteholder from collecting Default Interest or late charges from the Mortgage Loan Borrower to be applied pursuant to this Agreement.
Any amounts advanced by a Noteholder on behalf of the Mortgage Loan Borrower to effect any cure shall be reimbursable to such Noteholder
under Section 3 or Section 4, as applicable.

(b)              
Notwithstanding anything to the contrary contained in Section 12(a) or (d), the Junior Noteholder’s
right to cure a Monetary Default or Non-Monetary Default shall be limited to a combined total of (i) six (6) cures of Monetary
Defaults over the life of the Mortgage Loan, no more than four (4) of which may be consecutive, and (ii) six (6) cures of Non-Monetary
Defaults over the life of the Mortgage Loan. Additional Cure Periods shall only be permitted with the consent of the Lead Securitization
Noteholder, such consent not be unreasonably withheld, conditioned or delayed.

(c)         
No action taken by the Junior Noteholder in accordance with this Agreement shall excuse performance by the Mortgage Loan
Borrower of its obligations under the Mortgage Loan Documents and the Senior Noteholders’ rights under the Mortgage Loan
Documents shall not be waived or prejudiced by virtue of the Junior Noteholder’s actions under this Agreement. Subject to
the terms of this Agreement, the Junior Noteholder shall be subrogated to the Senior Noteholders’ rights to any payment owing
to the Senior Noteholders for which the Junior Noteholder makes a cure payment as permitted under this Section 12 but such
subrogation rights may not be exercised against the Mortgage Loan Borrower until 91 days after the Note is paid in full.

(d)              
If an Event of Default (other than a Monetary Default) occurs and is continuing under the Mortgage Loan Documents (a “Non-Monetary
Default”), the Lead Securitization Noteholder shall provide notice of such Non-Monetary Default to the Junior Noteholder
and the Junior Operating Advisor of such Non-Monetary Default (the “Non-Monetary Default Notice”) and the Junior
Noteholder shall have the right, but not the obligation, to cure such Non-Monetary Default until the later of (a) the same period
of time as the Mortgage Loan Borrower under the Mortgage Loan Documents, without regard for the date of receipt by the Junior Noteholder
of the Non-Monetary Default Notice, and (b) at least 30 days from the date of such Non-Monetary Default, to cure such Non-Monetary
Default; provided, however, if such Non-Monetary Default is susceptible of cure but cannot reasonably be cured within
such period and if curative action was promptly commenced and is being diligently pursued by the Junior Noteholder, the Junior
Noteholder shall be given an additional period of time as is reasonably necessary to enable the Junior Noteholder in the exercise
of due diligence to cure such Non-Monetary Default for so long as (i) the Junior Noteholder diligently and expeditiously proceeds
to cure such Non-Monetary Default, (ii) the Junior Noteholder makes all cure payments that it is permitted to make in accordance
with the terms and provisions of Section 12(a) hereof, (iii) such additional period of time does not exceed ninety (90)
days, (iv) such Non-Monetary Default is not caused by an Insolvency Proceeding or during such period of time that the Junior Noteholder
has to cure a Non-Monetary Default in accordance with this Section 12(d) (the “Non-Monetary Default Cure Period”),
an Insolvency Proceeding does not occur and (v) during such Non-Monetary Default Cure Period, there is no material adverse effect
on the Mortgage Loan

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Borrower or the Mortgaged Property or the value of the Mortgage Loan as a result of such Non-Monetary Default
or the attempted cure which cannot be cured by the Junior Noteholder within five (5) days of notice of such material adverse effect.
The Non-Monetary Default Notice shall contain a statement in boldface font that the Junior Noteholder’s or the Junior Operating
Advisor’s failure to cure such Non-Monetary Default within the applicable Non-Monetary Default Cure Period after receiving
such notice will result in the termination of the right to cure such Non-Monetary Default. The Junior Noteholder shall not contact
the Mortgage Loan Borrower in order to effect any cures under Sections 11(a) or this 11(d) without the prior written consent of
the Lead Securitization Noteholder, such consent not be unreasonably withheld, conditioned or delayed.

(e)         
References in this Section 12 to the “Junior Noteholder” shall be construed to mean the Junior Noteholders
individually or collectively as determined by the Junior Noteholders, provided however, that exercise of the cure rights by one
or more Junior Noteholders shall in any event be within the timeframes set forth in this Section 12.

Section 13.           
Purchase of the Senior Notes By the Junior Noteholder. The Junior Noteholder (or the Junior Operating Advisor acting
on their behalf) shall have the right, by written notice to each Senior Noteholder (a “Noteholder Purchase Notice”),
delivered at any time an Event of Default under the Mortgage Loan or a Servicing Transfer Event (but only with respect to clause (c),
(d) or (g) of the definition thereof) has occurred and is continuing, to purchase, in immediately available funds, the Senior
Notes in whole but not in part at the applicable Defaulted Mortgage Loan Purchase Price. For avoidance of doubt, if the Junior
Noteholder elects to exercise its right to purchase a Note pursuant to this Section 13, it must purchase each Senior Note.
Upon the delivery of the Noteholder Purchase Notice to each Senior Noteholder, the Senior Noteholders shall sell (and the Junior
Noteholder shall purchase) the Senior Notes at the applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Defaulted
Note Purchase Date”) not less than ten (10) days and not more than sixty (60) days after the date of the Noteholder Purchase
Notice, as shall be mutually established by the Note A-1 Holder and the Junior Noteholder. The Noteholder Purchase Notice shall
contain a statement in boldface font that the Junior Noteholder’s failure to purchase the Senior Notes on a Defaulted Note
Purchase Date (other than as a result of any failure to consummate such purchase on the part of the selling Noteholder or as a
result of the conditions giving rise to such purchase ceasing to exist) will result in the termination of such right in respect
of the Event of Default or a Servicing Transfer Event (but only with respect to clause (c), (d) or (g) of the definition
thereof) that caused such purchase right to be exercisable by the Junior Noteholder and not in respect of any future Event of Default.
The Junior Noteholder agree that the sale of the Senior Notes shall comply with all requirements of the Servicing Agreement and
that all costs and expenses related thereto shall be paid by the Junior Noteholder. The Defaulted Mortgage Loan Purchase Price
shall be calculated by the Lead Securitization Noteholder (or the Servicer on its behalf) three (3) Business Days prior to the
Defaulted Note Purchase Date (and such calculation shall be accompanied by a listing of all amounts included in the Defaulted Mortgage
Loan Purchase Price and reasonably detailed back-up documentation explaining how such price was determined), and shall, absent
manifest error, be binding upon the Junior Noteholder. Concurrently with the payment to the Senior Noteholders in immediately available
funds of its respective portion of the applicable Defaulted Mortgage Loan Purchase Price, the Senior Noteholders will execute at
the sole cost and expense of the Junior Noteholder in favor of the Junior Noteholder’s assignment

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documentation in form and
substance reasonably satisfactory to the Junior Noteholder which will assign the Senior Notes and the Mortgage Loan Documents without
recourse, representations or warranties (except the Senior Noteholders shall represent and warrant that it had good and marketable
title to, was the sole owner and holder of, and had power and authority to deliver the Mortgage Loan or Note, as applicable, free
and clear of all liens and encumbrances (other than the interest created by the Junior Note)). Subject to Section 5(f)
hereof, the right of the Junior Noteholder to purchase the Senior Notes shall automatically terminate upon a foreclosure sale,
sale by power of sale or delivery of a deed in lieu of foreclosure with respect to the Mortgaged Property (and the Lead Securitization
Noteholder shall give the Junior Noteholder ten (10) days’ prior written notice of its intent with respect to such action).
Notwithstanding the foregoing sentence, if title to the Mortgaged Property is transferred to the Lead Securitization Noteholder
(or a designee on its behalf), in a manner commonly known as “the borrower turning over the keys” and not otherwise
in connection with a consummation by the Lead Securitization Noteholder of a foreclosure sale or sale by power of sale or acceptance
of a deed in lieu of foreclosure, less than twenty (20) days after the acceleration of the Mortgage Loan, the Lead Securitization
Noteholder shall notify the Junior Noteholder of such transfer and the Junior Noteholder shall have a thirty (30) day period
from the date of such notice from the Lead Securitization Noteholder to deliver the Noteholder Purchase Notice to the Senior Noteholders,
in which case the Junior Noteholder will be obligated to purchase the Mortgaged Property, in immediately available funds, within
such thirty (30) day period at the applicable Defaulted Mortgage Loan Purchase Price. References in this Section 13
to the “Junior Noteholder” shall be construed to mean the Junior Noteholders individually or collectively as determined
by the Junior Noteholders, provided however, that exercise of the purchase option rights by one or more Junior Noteholders shall
in any event be within the timeframes set forth in this Section 13.

Section 14.           
Representations of the Junior Noteholder. Each Junior Noteholder represents, and it is specifically understood and
agreed, that it is acquiring its Junior Note for its own account in the ordinary course of its business and the Senior Noteholders
shall otherwise have no liability or responsibility to the Junior Noteholder except as expressly provided herein or for actions
that are taken or omitted to be taken by the Senior Noteholders that constitute gross negligence or willful misconduct or that
constitute a breach of this Agreement. Each Junior Noteholder represents and warrants that the execution, delivery and performance
of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene
its charter or any law or contractual restriction binding upon such Junior Noteholder, and that this Agreement is the legal, valid
and binding obligation of such Junior Noteholder enforceable against such Junior Noteholder in accordance with its terms, except
as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement
of creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law), and except that the enforcement of rights with respect to indemnification and contribution
obligations may be limited by applicable law. Such Junior Noteholder represents and warrants that it is duly organized, validly
existing, in good standing and possesses of all licenses and authorizations necessary to carry on its business. Such Junior Noteholder
represents and warrants that (a) this Agreement has been duly executed and delivered by such Junior Noteholder, (b) to such Junior
Noteholder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental
agency or body, if any, required for the execution, delivery and performance of this Agreement by such Junior

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Noteholder have been
obtained or made and (c) to such Junior Noteholder’s actual knowledge, there is no pending action, suit or proceeding, arbitration
or governmental investigation against the respective Junior Noteholder, an adverse outcome of which would materially and adversely
affect its performance under this Agreement.

Each Junior Noteholder
acknowledges that the Senior Noteholders do not owe such Junior Noteholder any fiduciary duty with respect to any action taken
under the Mortgage Loan Documents and, except as provided herein, need not consult with such Junior Noteholder with respect to
any action taken by the Senior Noteholders in connection with the Mortgage Loan.

Each Junior Noteholder
expressly and irrevocably waives for itself and any Person claiming through or under such Junior Noteholder any and all rights
that it may have under Section 1315 of the New York Real Property Actions and Proceedings Law or the provisions of any similar
law which purports to give a junior loan noteholder the right to initiate any loan enforcement or foreclosure proceedings.

Section 15.           
Representations of the Senior Noteholders. Each Senior Noteholder represents and warrants that the execution, delivery
and performance of this Agreement is within its respective corporate powers, has been duly authorized by all necessary corporate
action, and does not contravene any Senior Noteholder’s charter or any law or contractual restriction binding upon such Senior
Noteholder, and that this Agreement is the legal, valid and binding obligation of each Senior Noteholder enforceable against it
in accordance with its terms. Each Senior Noteholder represents and warrants that it is duly organized, validly existing, in good
standing and possession of all licenses and authorizations necessary to carry on its respective business. Each Senior Noteholder
represents and warrants that (a) this Agreement has been duly executed and delivered by each Senior Noteholder, (b) to each Senior
Noteholder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental
agency or body, if any, required for the execution, delivery and performance of this Agreement by each Senior Noteholder has been
obtained or made and (c) to each Senior Noteholder’s actual knowledge, there is no pending action, suit or proceeding, arbitration
or governmental investigation against the Senior Noteholder, an adverse outcome of which would materially and adversely affect
its performance under this Agreement.

Each Senior Noteholder
acknowledges that the Junior Noteholder does not owe any Senior Noteholder any fiduciary duty with respect to any action taken
under the Mortgage Loan Documents.

Section 16.           
Independent Analysis of the Noteholders. Each Noteholder acknowledges that it has, independently and without reliance
upon any other Noteholder, except with respect to the representations and warranties provided by the Initial Noteholders herein
and in any documents or instruments executed and delivered by the Senior Noteholders in connection herewith (including the representations
and warranties provided in the agreement pursuant to which such Noteholder acquired its Note), and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to purchase its respective Note and each Noteholder
accepts responsibility therefor. Each Noteholder hereby acknowledges that, other than the representations and warranties provided
herein, no Noteholder has made

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representations or warranties with respect to the Mortgage Loan, subject to such representations
and warranties as provided by the Noteholders herein, and that the Noteholders shall have no responsibility for (i) the collectibility
of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan Documents or the title insurance
policy or policies or any survey furnished or to be furnished to any Noteholder in connection with the origination of the Mortgage
Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be created by the Mortgage Loan Documents, or
(iv) the financial condition of the Mortgage Loan Borrower. Each Noteholder assumes all risk of loss in connection with respect
to its Note except as specifically set forth herein.

Section 17.           
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement and no action taken
pursuant hereto shall be deemed to constitute the relationship created hereby among any of the Noteholders as a partnership, association,
joint venture or other entity. The Senior Noteholders shall have no obligation whatsoever to offer to the Junior Noteholder the
opportunity to purchase a note interest in any future loans originated by any Senior Noteholder or their Affiliates and if any
Senior Noteholder chooses to offer to the Junior Noteholder the opportunity to purchase a note interest in any future mortgage
loans originated by any Senior Noteholder or their Affiliates, such offer shall be at such purchase price and interest rate as
such Senior Noteholder chooses, in its sole and absolute discretion. No Junior Noteholder shall have any obligation whatsoever
to purchase from any Senior Noteholder a note interest in any future loans originated by any Senior Noteholder or their Affiliates.

Section 18.           
Not a Security. The Junior Note shall not be deemed to be a security within the meaning of the Securities Act of
1933 or the Securities Exchange Act of 1934.

Section 19.           
Other Business Activities of the Noteholders. Each Noteholder acknowledges that each other Noteholder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, any Borrower Party or any Affiliate
thereof, and receive payments on such other loans or extensions of credit to any Borrower Party or any Affiliate thereof and otherwise
act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated
hereby were not in effect.

Section 20.           
Sale of the Notes.

(a)         
The Junior Noteholder agrees that it will not Transfer all or any portion of its Junior Note except that the Junior Noteholder
shall have the right to Transfer its respective Note, or any portion thereof, (i) to a Qualified Institutional Lender; provided,
that promptly after the Transfer, the Senior Noteholder is provided with (x) a representation from a transferee or the Junior Noteholder
certifying that such transferee is a Qualified Institutional Lender and (y) a copy of the assignment and assumption agreement referred
to in Section 21, and such transfer would not cause the Junior Note to be held by more than five persons nor cause there
to be no one person owning a majority of the Junior Note (provided that, for so long as the Junior Noteholder is Common
Control Party, the Junior Noteholder will be count as one person for the purposes of this Section 20), and (ii) to
an entity that is not a Qualified Institutional Lender;

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provided that the Junior Noteholder obtains (1) prior to a Securitization,
the consent of the Lead Securitization Noteholder, such consent not to be unreasonably withheld, conditioned or delayed, or (2)
after a Securitization, Rating Agency Confirmation (and for avoidance of doubt, no consent of the Lead Securitization Noteholder
shall be required after the closing of the Lead Securitization); provided that in each of case of (1) and (2), (x)
promptly after the Transfer, the Lead Securitization Noteholder is provided with a copy of the assignment and assumption agreement
referred to in Section 21 and (y) such transfer would not cause such Junior Note to be held by more than five persons nor
cause there to be no one person owning a majority of the Junior Note (provided that, for so long as the Junior Noteholder
is Common Control Party, the Junior Noteholder will be count as one person for the purposes of this Section 20). If the
Junior Note is held by more than one Junior Noteholder at any time, the holders of a majority of the Junior Note Principal Balance
shall immediately appoint a representative to exercise all rights of the Junior Note hereunder. Notwithstanding the foregoing,
without each Senior Noteholder’s prior consent, which may be withheld in such Senior Noteholder’s sole discretion,
no Junior Noteholder shall Transfer all or any portion of its Junior Note (other than an indirect non-controlling interest) to
the Mortgage Loan Borrower or a Borrower Party Affiliate and any such Transfer shall be absolutely null and void and shall vest
no rights in the purported transferee. The applicable Junior Noteholder agrees it will pay the expenses of the Lead Securitization
Noteholder (including all expenses of the Master Servicer and the Special Servicer) in connection with any such Transfer.

(b)              
Notwithstanding the foregoing, the Junior Noteholder shall have the right, without the need to obtain the consent of the
Senior Noteholders or any other Person, to Transfer 49% or less (in the aggregate) of its interest in the Junior Note to any Person;
provided that any such Transfer shall be made in accordance with the terms of this Section 20; provided,
further that the Junior Noteholder shall not Transfer all or any portion of the Junior Note (other than an indirect non-controlling
interest) to a Borrower Party or a Borrower Party Affiliate and any such Transfer shall be void ab initio, absolutely null and
void and shall vest no rights in the purported transferee. All Transfers under Section 20(a) and (b) shall be made
upon written notice to the Senior Noteholders not later than the date of such Transfer, and each transferee shall (i) execute
an assignment and assumption agreement whereby such transferee assumes all or a ratable portion, as the case may be, of the obligations
of the Junior Noteholder hereunder with respect to the Junior Note from and after the date of such assignment (or, in the case,
of a pledge, collateral assignment or other encumbrance made in accordance with Section 20(e) by the Junior Noteholder of
the Junior Note solely as security for a loan to the Junior Noteholder made by a third-party lender whereby the Junior Noteholder
remains fully liable under this Agreement, on or before the date on which such third-party lender succeeds to the rights of the
Junior Noteholder by foreclosure or otherwise, such third-party lender executes an agreement that such third-party lender shall
be bound by the terms and provisions of this Agreement and the obligations of the Junior Noteholder hereunder) and (ii) agree
in writing to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in effect with respect to the Mortgage
Loan, in which event the parties will enter into or agree to be bound by any replacement servicing agreement therefor in accordance
with the provisions hereof. Upon the consummation of a Transfer of all or any portion of the Junior Note in accordance with this
Agreement, the transferring Person shall be released from all liability arising under this Agreement with respect to such Junior
Note (or the portion thereof that was the subject of such Transfer), for the period after the effective date of such Transfer (it
being understood and agreed

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that the foregoing release shall not apply in the case of a sale, assignment, transfer or other disposition
of a participation interest in the Junior Note as described in clause (c) below). In connection with any such permitted
transfer of a portion of the Junior Note and for all purposes of this Agreement, the Senior Noteholders need only recognize the
majority holders of the Junior Note for purposes of notices, consents and other communications between the Senior Noteholders and
such majority holders of the Junior Note shall be the only Person authorized hereunder to exercise any rights of the Junior Noteholder
under this Agreement; provided, however, the majority holders of the Junior Note may from time to time designate
any other Person as an additional party entitled to receive notices, consents and other communications and/or to exercise rights
on behalf of the Junior Noteholder hereunder by delivering written notice thereof to the Senior Noteholders, and, from and after
delivery of such notice, such designee shall be so authorized hereunder and shall be the only party entitled to receive such notices,
consents and such other communications and/or to exercise such rights.

(c)         
In the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such
Noteholder’s obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible
for the performance of such obligations, (iii) the other Noteholder and any Persons acting on its behalf shall continue to
deal solely and directly with such Noteholder in connection with such Noteholder’s rights and obligations under this Agreement
and the Servicing Agreement, and (iv) all amounts payable hereunder shall be determined as if such Noteholder had not sold such
participation interest; provided, however, that if the applicable participant is a Qualified Institutional Lender
(and delivers to the other Noteholder a certification from an authorized officer confirming its status as a Qualified Institutional
Lender), such Noteholder, by written notice to the other Noteholder, may delegate to such participant such Noteholder’s right
to exercise the rights of the Controlling Noteholder hereunder and under the Servicing Agreement; provided, further,
however, that upon the occurrence of a Junior Noteholder Control Appraisal Period, the aforesaid delegation of rights shall
terminate and be of no further force and effect.

(d)              
Each Senior Noteholder shall have the right to Transfer all or any portion of the Senior Note without the prior consent
of the Junior Noteholder (i) with respect to any Non-Lead Securitization Note prior to an Event of Default, to any party other
than a Borrower Party or any Borrower Party Affiliate and (ii) after an Event of Default, to any party, including a Borrower Party
and any Borrower Party Affiliate; provided, however, that following any Event of Default under the Mortgage Loan,
each Senior Noteholder may only transfer all or any portion of its Senior Note to a Borrower Party or any Mortgage Loan Borrower
Related Party with the prior written consent of the Controlling Noteholder at any time when such Senior Noteholder is not the Controlling
Noteholder; provided further, however, that following any Transfer of such Senior Note, the Mortgage Loan continues
to be serviced in its entirety pursuant to the Servicing Agreement by a Servicer unaffiliated with a Borrower Party or any Borrower
Affiliated Party. For the avoidance of doubt, no Senior Noteholder (or any Servicer on its behalf) shall have any right to Transfer
or cause the Transfer of the Junior Note.

(e)         
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity
(other than a Borrower Party or any Borrower Party Affiliate) which has extended a credit or repurchase facility to such Noteholder
and that is either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated

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at least
“A” (or the equivalent) or better by each Rating Agency or (y) to any Federal Reserve Bank or Federal Home Loan Bank
to secure any obligation of such Noteholder to such bank and such pledge shall be enforceable in accordance with the terms thereof
(a “Note Pledgee”), on terms and conditions set forth in this Section 20(e), it being further agreed
that a financing provided by a Note Pledgee to a Noteholder or any person which Controls such Noteholder that is secured by such
Noteholder’s interest in the applicable Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder, provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged
Note without (a) prior to Securitization, the consent of each other Noteholder and (b) after Securitization, Rating Agency Confirmation.
Upon written notice by the applicable Noteholder to the other Noteholders and any Servicer that a Pledge has been effected (including
the name and address of the applicable Note Pledgee), each of the other Noteholders agrees to acknowledge receipt of such notice
and thereafter agrees: (i) to give Note Pledgee written notice of any default by the pledging Noteholder in respect of its
obligations under this Agreement of which default such Noteholder has actual knowledge; (ii) to allow such Note Pledgee a
period of ten (10) Business Days to cure a default by the pledging Noteholder in respect of its obligations to the other Noteholder
hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver
or termination of this Agreement shall be effective against such Note Pledgee without the written consent of such Note Pledgee,
which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Noteholder shall give to such
Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same to the pledging Noteholder
and accept any cure thereof by such Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect
hereunder, as if such cure were made by such pledging Noteholder; (v) that such other Noteholder shall deliver to Note Pledgee
such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in
a form reasonably satisfactory to such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”)
to the other Noteholders and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable
cure periods, under the pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement
between the pledging Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder),
and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any
payments that any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant
to this Agreement or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases the other
Noteholders and any Servicer from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s
compliance with any Redirection Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee.
Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement.
In such event, the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than a Borrower Party
or any Borrower Party Affiliate which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such
Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Noteholder’s
rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume
in writing

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the obligations of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the
collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee
under this Section 20(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note
Pledgee shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note
has terminated.

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

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

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

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

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

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

Section 21.           
Registration of Transfer. In connection with any Transfer of a Note (but excluding (x) any participant or (y) any
Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby
such transferee assumes all of the obligations of the applicable Noteholder hereunder with respect to such Note thereafter accruing
and agrees to be bound by the terms of this Agreement, including the restriction on Transfers set forth in Section 20, from
and after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment
and assumption agreement in connection with any Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement.
In connection with a transfer of a Note, the Agent shall not recognize any attempted or purported transfer of any Note in violation
of the

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provisions of Section 20 and this Section 21. Any such purported transfer shall be absolutely null and
void and shall vest no rights in the purported transferee. Each Noteholder desiring to effect such transfer shall, and does hereby
agree to, indemnify the Agent and any other Noteholder against any liability that may result if the transfer is not made in accordance
with the provisions of this Agreement. Upon a Securitization of the Lead Securitization Note, the Certificate Administrator shall
automatically become and be the Agent.

Section 22.           
Registration of the Notes.

(a)         
The Agent (or a servicer on its behalf) shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent (or a servicer on its behalf) shall serve as the initial Note registrar
and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes and the names and addresses
of any transferee of any Note of which the Agent (or a servicer on its behalf) has received notice, in the form of a copy of the
assignment and assumption agreement referred to in Section 21, shall be registered in the Note Register. The Person in whose
name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement,
except in the case of the Initial Noteholders who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent
(or a servicer on its behalf) shall provide such party with the names and addresses of the Noteholders. To the extent another party
is appointed as Agent hereunder, the Noteholders hereby designate such person as its agent under this Section 22 solely
for purposes of maintaining the Note Register. The parties intend for the Notes to be in registered form for federal income tax
purposes under Section 5f.103-1(c) of the United States Treasury Regulations.

(b)          With respect to the Earnout Advance made by the Earnout Holders in accordance with Section 11, the Earnout Holders
shall notify the Lead Securitization Noteholder (or at any time when such Lead Securitization Noteholder’s Note is included
in the Securitization, the Master Servicer and any primary servicer of the Master Servicer, with a copy to the applicable custodian)
on the date on which such Earnout Advance was made and the amount of such Earnout Advance advanced by it to the Mortgage Loan Borrower,
which notice shall include a true and correct image of each applicable Note as marked to reflect the disbursement of its portion
of the Earnout Advance. Provided that such notice is so delivered, the Lead Securitization Noteholder (or at any time when the
Senior Note is included in the Securitization, the Master Servicer) shall maintain a record of the Earnout Advance advanced by
the Earnout Holder and shall treat the Junior Note Principal Balance as having been increased by the amount of such Earnout Advance.

Section 23.           
Statement of Intent. The Agent and each Noteholder intend that the Notes be classified, and the arrangement hereby
be maintained, in a manner consistent with rules applicable to a grantor trust under subpart E, part I of subchapter J of chapter
1 of the Code that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will
not take any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create
a partnership, joint venture, “taxable mortgage pool” or association taxable as a corporation among the parties.

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Section 24.           
No Pledge. This Agreement shall not be deemed to represent a pledge of any Note or other interest in the Mortgage
Loan by any one or more Noteholders to any one or more other Noteholders. Except as otherwise provided in this Agreement and the
Servicing Agreement, the Junior Noteholder shall not have any interest in any property taken as security for any Mortgage Loan,
provided, however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall
be received, then the Junior Noteholder shall be entitled to receive its share of such application in accordance with the terms
of this Agreement and/or the Servicing Agreement.

Section 25.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED
TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND
DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS
LAW). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
OUT OF OR RELATING TO THIS AGREEMENT.

Section 26.           
Submission To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

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

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

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

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

Section 27.           
Modifications; Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in
writing signed by each Noteholder. Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders
shall not amend or modify this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation
from the Rating Agencies shall be required in connection with a modification or amendment (i) to cure any ambiguity, to correct
or supplement any provisions herein that may be defective or inconsistent with any other provisions herein or with the Servicing
Agreement, (ii) entered into pursuant to Section 2(d)(vii) or Section 39 of this Agreement or (iii) to
correct or supplement any provision herein that may be defective or inconsistent with any other provisions of this Agreement.

Section 28.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and permitted assigns. Except as provided herein, none of the provisions of
this Agreement shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 20, each
Noteholder may assign or delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall
be entitled to all rights and benefits of the applicable Noteholder hereunder, including, without limitation, the right to make
further assignments and grant additional Notes.

Section 29.           
Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document
Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart of this Agreement.

Section 30.           
Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference
only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.

Section 31.           
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws,
such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

Section 32.           
Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject
matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

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Section 33.           
Withholding Taxes.

(a)         
If any Senior Noteholder (or any Servicer) or the Mortgage Loan Borrower shall be required by law to deduct and withhold
Taxes from interest, fees or other amounts payable to the applicable Junior Noteholder with respect to the Mortgage Loan as a result
of the applicable Junior Noteholder constituting a Non-Exempt Person, the Lead Securitization Noteholder, or the Servicer on its
behalf, shall be entitled to do so with respect to the applicable Junior Noteholder’s interest in such payment (all withheld
amounts being deemed paid to the applicable Junior Noteholder), provided that the Lead Securitization Noteholder shall furnish
the applicable Junior Noteholder with a statement setting forth the amount of Taxes withheld, the applicable rate and other information
which may reasonably be requested for purposes of assisting the applicable Junior Noteholder to seek any allowable credits or deductions
for the Taxes so withheld in each jurisdiction in which the applicable Junior Noteholder is subject to tax.

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

(c)         
Contemporaneously with the execution of this Agreement and from time to time as reasonably requested by the Lead Securitization
Noteholder or Servicer during the term of this Agreement, each Junior Noteholder shall deliver to the Lead Securitization Noteholder
or Servicer, as applicable, evidence satisfactory to the Lead Securitization Noteholder substantiating whether such Junior Noteholder
is a Non-Exempt Person and whether the Lead Securitization Noteholder is obligated under applicable law to withhold Taxes on sums
paid to it with respect to the Mortgage Loan or otherwise under this Agreement. Without limiting the effect of the foregoing, (i)
if the Junior Noteholder (or, if the Junior Noteholder is disregarded for U.S. federal income tax purposes, the owner of the Junior
Noteholder) is created or organized under the laws of the United States, any state thereof or the District of Columbia, it shall
satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Noteholder an Internal Revenue Service
Form W-9 and (ii) if the Junior Noteholder (or, if the Junior Noteholder is disregarded for U.S. federal income tax purposes, the
owner of the Junior Noteholder) is not created or organized under the laws of the United States, any state thereof or the District
of Columbia, and if the payment of interest or other amounts by the Mortgage Loan

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Borrower is treated for United States income
tax purposes as derived in whole or part from sources within the United States, the Junior Noteholder shall satisfy the requirements
of the preceding sentence by furnishing to the Lead Securitization Noteholder Internal Revenue Service Form W-8ECI, Form W-8IMY
(with appropriate attachments), Form W-8BEN or Form W-8BEN-E, or applicable successor forms, as may be required from time to time,
duly executed by the Junior Noteholder; provided that the Junior Noteholder, without request, shall deliver a new, appropriately
completed Form W-8 if the Junior Noteholder’s current Form W-8 “expires” or if there is a “change in circumstances”
that makes any of the information on the current Form W-8 incorrect (both within the meaning of the instructions to such Form W-8).
The Lead Securitization Noteholder shall not be obligated to make any payment hereunder to the Junior Noteholder in respect of
its Junior Note or otherwise until the Junior Noteholder shall have furnished to the Lead Securitization Noteholder the requested
forms, certificates, statements or documents.

Section 34.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than Note A-1, Note
B-1, Note B-2, Note B-3 and Note B-4) shall be held by the Initial Agent (or a custodian acting on behalf of the Initial Agent)
who shall act as secured party under the Mortgage Loan Documents on behalf of the registered holders of the Notes. Notwithstanding
anything to the contrary in this Agreement, upon a Securitization of the Lead Securitization Noteholder, the originals of all of
the Mortgage Loan Documents (other than each Non-Lead Securitization Note and Note B-1, Note B-2, Note B-3 and Note B-4) shall
be held by the Custodian (as defined in the Servicing Agreement).

Section 35.           
Notices. All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile
transmission (during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges
prepaid), (iv) sent by electronic mail containing language requesting the recipient to confirm receipt thereof if a party has provided
an electronic mail address and only if such electronic mail is promptly followed by a written notice or (iv) certified United States
mail, postage prepaid return receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit
B hereto, or at such other address as any party shall hereafter inform the other party by written notice given as aforesaid.
All written notices so given shall be deemed effective upon receipt.

All notices and reports
(including, without limitation, Asset Status Reports) required to be delivered hereunder by the Lead Securitization Noteholder
(or any Servicer on its behalf) to the Controlling Noteholder (or its Junior Operating Advisor), or by the Controlling Noteholder
(or its Junior Operating Advisor) to the Lead Securitization Noteholder (or any Servicer on its behalf), shall also be delivered
by the applicable party to the other Noteholders (including to the Note B Holder regardless of whether a Control Appraisal Period
is continuing).

Section 36.           
Broker. Each Noteholder represents to each other Noteholder that no broker was responsible for bringing about this
transaction.

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Section 37.           
Certain Matters Affecting the Agent.

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

(b)          The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s
certificate or assignment and assumption agreement delivered to the Agent pursuant to Section 21;

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

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

(e)         
The Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning
of the Act, shall not be personally liable for any action taken, suffered or omitted by it in good faith and reasonably believed
by the Agent to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;

(f)         
The Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 21; and

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

Section 38.           
Termination of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Lead
Securitization Noteholder. In the event that the Agent is terminated pursuant to this Section 38, all of its rights and
obligations under this Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such
termination.

The Agent may resign
at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed to be bound by this
Agreement and perform the duties of the Agent hereunder. Initial Agent may transfer its rights and obligations to the Servicer,
as successor Agent, at any time without the consent of any Noteholder. Initial Agent shall promptly and diligently attempt to cause
such Servicer to act as successor Agent, and, if such Servicer declines to act in such capacity, shall promptly and diligently
attempt to cause a similar servicer to act as successor Agent. The termination or resignation of such Servicer, as Servicer under
the Servicing Agreement, shall be deemed a termination or resignation of such Servicer as Agent under this Agreement. Notwithstanding
the to the contrary in this Agreement, upon a Securitization of the Lead Securitization Note, the Certificate Administrator shall
automatically become and be the Agent.

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Section 39.           
Resizing. In connection with the Mortgage Loan, each Noteholder agrees that if any Noteholder determines that it
is advantageous to resize its respective Note by causing the Mortgage Loan Borrower to execute amended and restated notes or additional
notes (in either case, “New Notes”) reallocating the principal of such Note to such New Notes, (x) each Noteholder
shall cooperate with the applicable Noteholder to effect such resizing, and (y) the Noteholders shall amend this Agreement to reflect
such resizing, in each case, at such resizing Noteholder’s expense, as applicable; provided that (i) the aggregate
principal balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such
Note or Notes immediately prior to the creation of the New Notes, (ii) the weighted average interest rate of all outstanding New
Notes following the creation thereof is the same as the interest rate of the related Note or Notes immediately prior to the creation
of the New Notes, (iii) no such resizing shall (a) change the interest allocable to, or the amount of any payments due
to, any Noteholder, or priority of such payments, or (b) increase any Noteholder’s obligations or decrease any Noteholder’s
rights, remedies or protections, (iv) in the case of the Junior Note, such New Notes shall be pari passu in right of
payment (and, for the avoidance of doubt, may not be senior/subordinate in right of payment) and (v) in the case of the Senior
Note, such New Notes shall be pari passu in right of payment (and, for the avoidance of doubt, may not be senior/subordinate
in right of payment). Subject to the immediately preceding sentence, in connection with the resizing of any Note, the related Noteholder
may allocate its rights hereunder among the New Notes in any manner in its sole discretion. Any request by a Noteholder to the
Mortgage Loan Borrower to execute any New Note shall be made solely through the Note A-1 Holder or any Servicer on behalf of the
resizing Noteholder. Any cap on the Noteholder’s obligation to pay any other Noteholder’s expenses pursuant to Section
41 of this Agreement shall not apply to any Noteholder’s expenses in connection with a resizing pursuant to this Section 39
or any Securitization of a resized Note. Other than as set forth in this Section 39, no Noteholder shall be permitted to
split their Note into one or more replacement notes.

Section 40.           
Conflict. To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on
the other, this Agreement shall control.

Section 41.           
Cooperation in Securitization.

(a)         
Each Noteholder acknowledges that any Noteholder may elect, in its sole discretion, to include its Note in a Securitization.
In connection with a Securitization and subject to the terms of the preceding sentence, at the request of the applicable Senior
Noteholder, the Junior Noteholder shall use reasonable efforts, at the applicable Senior Noteholder’s expense, to satisfy,
and to cooperate with such Senior Noteholder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards
to which the Senior Noteholder customarily adhere or which may be reasonably required in the marketplace or by the Rating Agencies
in connection with the Securitization, including, entering into (or consenting to, as applicable) any modifications to this Agreement
or the Mortgage Loan Documents and to cooperate with the applicable Senior Noteholder in attempting to cause the Mortgage Loan
Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably requested by the
Rating Agencies to effect the Securitization; provided, however, that either in connection with the Securitization
or otherwise at any time prior to the Securitization, the Junior Noteholder shall not be required to modify or amend this Agreement
or any Mortgage Loan

    69 

     

    

Documents (or consent to such modification, as applicable) in connection therewith, if such modification or
amendment would (i) change the interest allocable to, or the amount of any payments due to or priority of such payments, the Junior
Noteholder, (ii) increase the Junior Noteholder’s obligations or decrease the Junior Noteholder’s rights, remedies
or protections, or (iii) otherwise materially adversely affect the rights, interests or obligations of the Junior Noteholder.
In connection with the Securitization, the Junior Noteholder agrees to provide for inclusion in any disclosure document relating
to the related Securitization such information concerning the Junior Noteholder and the other Notes as the applicable Senior Noteholder
reasonably determine to be necessary or appropriate. The Junior Noteholder’s covenant and agree that they shall use reasonable
efforts to cooperate with the requests of each Rating Agency and the applicable Senior Noteholder in connection with the Securitization,
as well as in connection with all other matters and the preparation of any offering documents thereof and to review and respond
reasonably promptly with respect to any information relating to it and the other Notes in any Securitization document, all at the
cost and expense of the applicable Senior Noteholder. The Junior Noteholder acknowledges that the information provided by it to
the Senior Noteholder may be incorporated into the offering documents for a Securitization. The Senior Noteholder and each Rating
Agency shall be entitled to rely on the information supplied by, or on behalf of, the Junior Noteholder.

(b)              
The applicable Senior Noteholder may, at its election, deliver to the Junior Noteholder drafts of the preliminary and final
Securitization offering memoranda, preliminary and final prospectus and any other disclosure documents and the Servicing Agreement
simultaneously with distributions of any such documents to the general working group of the related Securitization. The Junior
Noteholder may, at its election, review and comment thereon insofar as it relates to the Junior Note and/or applicable Junior Noteholder,
and, if the Junior Noteholder elects to review and comment, the Junior Noteholder shall review and comment thereon as soon as possible
(but in no event later than (i) in the case of the first draft thereof, two (2) Business Days after receipt thereof and (ii) in
the case of each subsequent draft thereof, the deadline provided to the general working group of the related Securitization for
review and comment), and if the Junior Noteholder fails to respond within such time, the Junior Noteholder shall be deemed to have
elected to not comment thereon. In the event of any disagreement between the Junior Noteholder with respect to the preliminary
and final offering memoranda, preliminary and final prospectus, free writing prospectus or any other disclosure documents the applicable
Senior Noteholder’s determination shall control. The Junior Noteholder has no obligation and shall have no liability with
respect to any such offering documents other than the accuracy of any comments it elects to make regarding itself.

(c)         
Notwithstanding anything herein to the contrary, the Senior Noteholders acknowledge and agree that (i) the Junior Noteholder
shall not be required to incur any out-of-pocket expenses in connection with a Securitization of any Senior Note and (ii) the Junior
Noteholder shall not be required to disclose any of the beneficial owners of the managed account on behalf of which it is holding
the Junior Note.

[SIGNATURE PAGE FOLLOWS]

    70 

     

    

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

	 	 	 
	 	INITIAL AGENT:
	 	 	 
	 	AIG ASSET MANAGEMENT (U.S.), LLC, a Delaware limited liability company
	 	 	 
	 	By:	/s/ Daniel Sliwak 
	 	 	Name: Daniel Sliwak
	 	 	Title: Managing Director

 

Agreement
Between Noteholders

     

     

    

	 	INITIAL NOTE A-1 HOLDER:
	 	 
	 	DBR INVESTMENTS CO. LIMITED, a Cayman Islands company
	 	 	 
	 	By:	/s/ Paul K. Richardson 
	 	 	Name: Paul K. Richardson
	 	 	Title: Director
	 	 	 
	 	By:	/s/ Peter Castro 
	 	 	Name: Peter Castro
	 	 	Title: Director

 

Agreement Between Noteholders

 

     

     

    

	 	INITIAL NOTE A-2 HOLDER, INITIAL NOTE B-1 HOLDER
    AND INITIAL NOTE B-3 HOLDER:
	 	 
	 	AMERICAN GENERAL LIFE INSURANCE COMPANY, a Texas
    Corporation
	 	 	 
	 	By:	AIG ASSET MANAGEMENT (U.S.), LLC, a Delaware limited
    liability company

    its investment adviser
	 	 	 
	 		By: 	/s/ Daniel
    Sliwak 
	 	 	 	Name: Daniel Sliwak
	 	 	 	Title: Managing Director

Agreement
Between Noteholders

 

     

     

    

	 	INITIAL NOTE A-3 HOLDER, INITIAL NOTE B-2 HOLDER
    AND INITIAL NOTE B-4 HOLDER:
	 	 
	 	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY, a Texas
    Corporation
	 	 	 
	 	By	AIG ASSET MANAGEMENT (U.S.), LLC, a Delaware limited
    liability company

    its investment adviser
	 	 	 
	 		By: 	/s/ Daniel
    Sliwak 
	 	 	 	Name: Daniel Sliwak
	 	 	 	Title: Managing Director

Agreement
Between Noteholders

 

     

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description
of Mortgage Loan:

	Mortgage Loan:	Loan Agreement, dated as of November 23, 2021 (as amended, restated, replaced, supplemented or otherwise modified from time to time), among the Noteholders (collectively as “Lender”), and Benjamin Harrison Urban Renewal, LLC, as borrower (“Borrower”)
	Date of the Mortgage Loan:	November 23, 2021
	Date of the Notes:	November 23, 2021
	Initial Principal Amount of Mortgage Loan:	$90,000,000
	Location of Mortgaged Property:	The Eddy, - South Condominium Unit, 555 1st Street, Harrison, NJ 07029
	Stated Maturity Date:	December 1, 2031

    A-1 

     

    

B.       Description
of Note Interests:

	Initial Note A-1 Principal Balance:	$43,000,000.00
	Initial Note A-2 Principal Balance:	$0
	Initial Note A-3 Principal Balance:	$0
	Initial Note B-1 Principal Balance:	$46,530,000.00
	Initial Note B-2 Principal Balance:	$470,000.00
	Initial Note B-3 Principal Balance:	$0
	Initial Note B-4 Principal Balance:	$0
	Senior Note Rate1:	2.455%
	Junior Note Rate2:	3.288%
	 	 

 

1 The Senior Note Rate for Note A-2 and Note
A-3 and the Junior Note Rate for Note B-3 and Note B-4 shall each be determined in connection with any Earnout Advance.

 

    A-2 

     

    

 

EXHIBIT B

 

Initial Agent:

AIG Asset Management (U.S.), LLC

c/o AIG Investments

777 S. Figueroa Street, 16th Floor

Los Angeles, California 90017-5800

Attention: VP-Servicing, Commercial Mortgage Lending

E-mail: CMLnotices@aig.com

 

Initial Note A-1 Holder:

DBR Investments Co. Limited

1 Columbus Circl, 15th Floor

New York, New York 10019

Attention: Jeremy Crystal

                   Jermey.Crystal@db.com

                   Robert W. Pettinato,
Jr.

                   Robert.Pettinato@db.com

                   Donna A. Corrigan

                   Donna-A.Corrigan@db.com

with a copy to:

DBR Investments Co. Limited

1 Columbus Circl, 15th Floor

New York, New York 10019

Attention: General Counsel

 

Initial Note A-1 Holder, Initial Note A-2 Holder, Initial
Note B-1 Holder, Initial Note B-2 Holder, Initial NoteB-3 Holder:

AIG Asset Management (U.S.), LLC

c/o AIG Investments

777 S. Figueroa Street, 16th Floor

Los Angeles, California 90017-5800

Attention: VP-Servicing, Commercial Mortgage Lending

E-mail: CMLnotices@aig.com

    B-1 

     

    

with a copy to:

Cadwalader, Wickersham & Taft LLP

227 West Trade Street, Suite 2400

Charlotte, NC 28202

Attention: Holly Chamberlain, Esq.

E-mail: holly.chamberlain@cwt.com

    B-2 

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

		1.	Westbrook Partners

		2.	DLJ Real Estate Capital Partners

		3.	iStar Financial Inc.

		4.	Capital Trust, Inc.

		5.	Lend-Lease Real Estate Investments

		6.	Archon Capital, L.P.

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

		8.	The Blackstone Group International Ltd.

		9.	Apollo Real Estate Advisors

		10.	Colony Capital, Inc.

		11.	Praedium Group

		12.	J.E. Roberts Companies

		13.	Fortress Investment Group, LLC

		14.	Lonestar Opportunity Fund

		15.	Clarion Partners

		16.	Walton Street Capital, LLC

		17.	Starwood Financial Trust

		18.	BlackRock, Inc.

		19.	Rialto Capital Management, LLC

		20.	Raith Capital Partners, LLC

		21.	Rialto Capital Advisors LLC

		22.	Teachers Insurance and Annuity Association of America

		23.	Principal Real Estate Investors, LLC

		24.	Metropolitan Life Insurance Company

		25.	New York Life Insurance Company

		26.	KKR Real Estate Manager Finance LLC

 

    C-1

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