Document:

Exhibit 4.14

 

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTEHOLDERS

 

Dated as of November 17, 2016

 

by and between

 

Société Générale

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

 

Bank of America, N.A.

(Initial Note A-4 Holder, Initial A-5 Holder, Initial B-4 Holder and Initial B-5 Holder)

 

Cantor Commercial Real Estate Lending, L.P.

(Initial Note A-6 Holder, Initial Note A-7 Holder, Initial Note A-8 Holder, Initial B-6 Holder, Initial B-7 Holder and Initial
B-8 Holder)

 

Barclays Bank PLC

(Initial Note A-9 Holder, Initial Note A-10 Holder, Initial B-9 Holder and Initial B-10 Holder)

 

Potomac Mills

 

     

    	 

    

 

THIS AGREEMENT BETWEEN NOTEHOLDERS (“Agreement”),
dated as of November 17, 2016 by and between SOCIÉTÉ GÉNÉRALÉ (“SG” and together
with its successors and assigns in interest, in its capacity as initial owner of the Note A-1, the “Initial Note A-1 Holder”,
and in its capacity as the initial agent, the “Initial Agent”), SG (together with its successors and assigns
in interest, in its capacity as initial owner of the Note A-2 (the ”Initial Note A-2 Holder”), SG (together
with its successors and assigns in interest, in its capacity as initial owner of the Note A-3 (the “Initial Note A-3 Holder”),
BANK OF AMERICA, N.A. (“BANA” and together with its successors and assigns in interest, in its capacity as initial
owner of the Note A-4 (the “Initial Note A-4 Holder”), BANA (together with its successors and assigns in interest,
in its capacity as initial owner of the Note A-5 (the “Initial Note A-5 Holder”), CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P. (“Cantor” and together with its successors and assigns in interest, in its capacity as initial
owner of the Note A-6 (the “Initial Note A-6 Holder”), Cantor (together with its successors and assigns in interest,
in its capacity as initial owner of the Note A-7 (the “Initial Note A-7 Holder”), Cantor (together with its
successors and assigns in interest, in its capacity as initial owner of the Note A-8 (the “Initial Note A-8 Holder”),
BARCLAYS BANK PLC (“Barclays” and together with its successors and assigns in interest, in its capacity as initial
owner of the Note A-9 (the “Initial Note A-9 Holder”), Barclays (together with its successors and assigns in
interest, in its capacity as initial owner of the Note A-10 (the “Initial Note A-10 Holder” together with the
Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder, the Initial Note
A-5 Holder, the Initial Note A-6 Holder, the Initial Note A-7 Holder, the Initial Note A-8 Holder and the Initial Note A-9 Holder,
the “Initial Senior Noteholders), SG, together with its successors and assigns in interest, in its capacity as initial
owner of the Note B-1 (the “Initial Note B-1 Holder”), SG (together with its successors and assigns in interest,
in its capacity as initial owner of the Note B-2 (the “Initial Note B-2 Holder”), SG (together with its successors
and assigns in interest, in its capacity as initial owner of the Note B-3 (the “Initial Note B-3 Holder”), BANA
(together with its successors and assigns in interest, in its capacity as initial owner of the Note B-4 (the “Initial
Note B-4 Holder”), BANA (together with its successors and assigns in interest, in its capacity as initial owner of the
Note B-5 (the “Initial Note B-5 Holder”), Cantor (together with its successors and assigns in interest, in its
capacity as initial owner of the Note B-6 (the “Initial Note B-6 Holder”), Cantor (together with its successors
and assigns in interest, in its capacity as initial owner of the Note B-7 (the “Initial Note B-7 Holder”), Cantor
(together with its successors and assigns in interest, in its capacity as initial owner of the Note B-8 (the “Initial
Note B-8 Holder”), Barclays (together with its successors and assigns in interest, in its capacity as initial owner of
the Note B-9 (the “Initial Note B-9 Holder”) and Barclays (together with its successors and assigns in interest,
in its capacity as initial owner of the Note B-10 (the “Initial Note B-10 Holder” and together with the Initial
Note B-1 Holder, the Initial Note B-2 Holder, the Initial Note B-3 Holder, the Initial Note B-4 Holder, the Initial Note B-5 Holder,
the Initial Note B-6 Noteholder, the Initial Note B-7 Holder, the Initial Note B-8 Holder and the Initial B-9 Noteholder, the “Initial
Junior Noteholders”).

 

W I T N E S S E T H:

 

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WHEREAS, pursuant to
the Loan Agreement (as defined herein) SG, BANA, Cantor and Barclays originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage
loan borrower(s) described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was initially
evidenced by 10 promissory notes (the “Original Notes”) in the aggregate amount of $416,000,000, secured by
a first mortgage on one or more parcels of real property located as described on the Mortgage Loan Schedule (the “Mortgaged
Property”), each dated October 5, 2016.

 

WHEREAS, pursuant to
a Note Consolidation and Splitter and Loan Modification Agreement, dated as of October 24, 2016, the Original Notes have been split
and the Mortgage Loan is presently evidenced by the following 20 notes:

 

(i)          Promissory Note A-1 in the revised principal amount of $40,000,000 (“Note A-1”),

 

(ii)         Promissory Note A-2 in the revised principal amount of $20,000,000 (“Note A-2”),

 

(iii)        Promissory Note A-3 in the revised principal amount of $12,750,000 (“Note A-3”),

 

(iv)       Promissory Note A-4 in the revised principal amount of $52,000,000 (“Note A-4”),

 

(v)         Promissory Note A-5 in the revised principal amount of $20,750,000 (“Note A-5”),

 

(vi)        Promissory Note A-6 in the revised principal amount of $30,000,000 (“Note A-6”),

 

(vii)       Promissory Note A-7 in the revised principal amount of $35,000,000 (“Note A-7”),

 

(viii)      Promissory Note A-8 in the revised principal amount of $7,750,000 (“Note A-8”),

 

(ix)        Promissory Note A-9 in the revised principal amount of $52,000,000 (“Note A-9”),

 

(x)         Promissory Note A-10 in the revised principal amount of $20,750,000 (“Note A-10” and together with Note
A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8 and Note A-9, the “Senior Notes” and
individually each a Senior Note or Note)

 

(xi)        Promissory Note B-1 in the original principal amount of $17,182,131 (“Note B-1”),

 

(xii)       Promissory Note B-2 in the original principal amount of $8,591,065 (“Note B-2”),

 

(xiii)      Promissory Note B-3 in the original principal amount of $5,476,804 (“Note B-3”),

 

(xiv)      Promissory Note B-4 in the original principal amount of $22,336,770 (“Note B-4”),

 

(xv)       Promissory Note B-5 in the original principal amount of $8,913,230 (“Note B-5”),

 

(xvi)      Promissory Note B-6 in the original principal amount of $12,886,598 (“Note B-6”),

 

(xvii)     Promissory Note B-7 in the original principal amount of $15,034,364 (“Note B-7”),

 

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(xviii)    Promissory Note B-8 in the original principal amount of $3,329,038 (“Note B-8”),

 

(xix)      Promissory Note B-9 in the original principal amount of $22,336,770 (“Note B-9”), and

 

(xx)       Promissory Note B-10 in the original principal amount of $8,913,230 (“Note B-10”, together with the Note
B-1, Note B-2, Note B-3, Note B-4, Note B-5, Note B-6, Note B-7, Note B-8 and Note B-9, the “Junior Notes”)

 

WHEREAS, SG and Cantor
intend to sell, transfer and assign all of their right, title and interest in and to Note A-1 and Note A-6, respectively, to Cantor
Commercial Mortgage Securities, L.P. (“CCRE”), as depositor, pursuant to a Mortgage Loan Purchase Agreement
to be dated as of November 1, 2016, by and between CCRE, as purchaser, and SG, as seller, and a Mortgage Loan Purchase Agreement
to be dated as of November 1, 2016, by and between CCRE, as purchase, and Cantor, as seller, and CCRE intends to transfer its right,
title and interest in and to Note A-1 and Note A-6 to Wilmington Trust, National Association, as trustee for the CFCRE 2016-C6
Commercial Mortgage Pass-Through Certificates, Series 2016-C6 under a pooling and servicing agreement, dated as of November 1,
2016, among CCRE, as depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special
servicer, Park Bridge Lender Servicers LLC, as operating advisor and as asset representations reviewer, Wells Fargo Bank, National
Association, as certificate administrator, paying agent and as custodian, and Wilmington Trust, National Association, as trustee;

 

WHEREAS, the Initial
Senior Noteholders and the Initial Junior Noteholders desire to enter into this Agreement to memorialize the terms under which
the Initial Senior Noteholders and the Initial Junior Noteholders are holding the Senior Notes and the Junior Notes, respectively,
in the Mortgage Loan.

 

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.

 

“Additional
Servicing Expenses” shall mean (a) all Servicing Advances, fees and/or expenses incurred by and reimbursable to any Servicer
or Trustee 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 related Non-Lead Servicing Agreement; provided that the aggregate special servicing administration fee (which fee
is payable solely during the period that the Mortgage Loan is a Specially Serviced Mortgage Loan) shall not exceed an amount equal
to 0.25% per annum (or 0.125% per annum so long as the Note

 

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A-1 Holder has not selected a replacement Special Servicer for the
Mortgage Loan) of the outstanding principal balance of the Mortgage Loan, the special servicing liquidation fee (or equivalent)
shall not exceed 0.5% of the collections made with respect to the Mortgage Loan or any sums received from proceeds from the disposition
of the Mortgaged Property or the Mortgage Loan, as the case may be, and the special servicing workout fee (or equivalent) shall
not exceed 0.5% of the collections made with respect to the Mortgage Loan while the Mortgage Loan is a performing or “corrected”
loan (or such other analogous term pursuant to the Servicing Agreement), all subject to adjustments and caps as set forth in the
Servicing Agreement.

 

“Advance Interest
Amount” shall mean interest payable on Advances, as specified in the Servicing Agreement or Non-Lead Servicing Agreement,
as applicable.

 

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

 

“Advances”
shall have the meaning assigned to such term in the Servicing Agreement or a Non-Lead Servicing Agreement, as applicable, or such
other analogous term used in the Servicing Agreement or a Non-Lead Servicing Agreement, as applicable.

 

“Affiliate”
shall mean with respect to any specified Person (i) any other Person that Controls, Controlling or is 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, the Trustee.

 

“Agent Office”
shall mean the designated office of the Agent, which office initially shall be the office of the Initial Note A-1 Holder listed
on Exhibit B hereto and, after the Securitization Date, shall be the offices of the Certificate Administrator. The Agent
Office is the address to which notices to and correspondence with the Agent should be directed. The Agent may change the address
of its designated office by notice to the 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 or such other analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

“Asset Representations
Reviewer” shall have the meaning assigned to such term in the Servicing Agreement.

 

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

 

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

 

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

 

“Business Day”
shall have the meaning assigned to such term in the Servicing Agreement or Non-Lead Servicing Agreement, as applicable.

 

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

 

“CFCRE 2016-C6
PSA” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“CFCRE 2016-C6
Securitization” shall mean the Securitization of Note A-1 and Note A-6 pursuant to the Servicing Agreement in connection
with the issuance of the CFCRE 2016-C6 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016-C6

 

“CFCRE 2016-C6
Securitization Date” shall mean the closing date of the CFCRE 2016-C6 Securitization.

 

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

 

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

 

“Collection
Account” shall have the meaning assigned to such term (or equivalent term) in the Servicing Agreement.

 

“Companion Distribution
Account” shall have the meaning assigned to such term (or equivalent term) in the Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

“Control Appraisal
Period” shall mean a period that exists with respect to the Mortgage Loan, if and for so long as:

 

		(1)	(a) (i) the sum of the initial Note B-1 Principal Balance, Note B-2 Principal Balance, Note B-3
Principal Balance, Note B-4 Principal Balance, Note B-5 Principal Balance, Note B-6 Principal Balance, Note B-7 Principal Balance,
Note B-8 Principal Balance, Note B-9 Principal Balance and Note B-10 Principal Balance, minus (ii) the sum (without duplication)
of (x) any payments of principal (whether as principal prepayments or otherwise) allocated to, and received on, 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 the
Junior Notes and (z) any losses realized with respect to any Mortgaged Property or the Mortgage Loan that are allocated to the
such Junior Note plus (iii) any Threshold Event Collateral posted by the Junior Noteholders, is less than

 

(b) 25% of
the remainder of the (i) initial Note B-1 Principal Balance, Note B-2 Principal Balance, Note B-3 Principal Balance, Note B-4 Principal
Balance, Note B-5 Principal Balance, Note B-6 Principal Balance, Note B-7 Principal Balance, Note B-8 Principal Balance, Note B-9
Principal Balance and Note B-10 Principal Balance, as applicable, less (ii) any payments of principal (whether as principal prepayments
or otherwise) allocated to, and received by, the Junior Noteholder on its Junior Note after the date of creation of the Junior
Notes; or

 

		(2)	any interest in a Junior Note is held by the Mortgage Loan Borrower or a Mortgage Loan Borrower
Related Party, or the Mortgage Loan Borrower or Mortgage Loan Borrower Related Party would otherwise be entitled to exercise the
rights of the holders of greater than 50% of the aggregate Principal Balance of the Junior Notes as the Controlling Noteholder.

 

“Controlling
Class Representative” shall have the meaning assigned to the term “Directing Holder” in the Servicing Agreement.

 

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“Controlling
Noteholder” shall mean as of any date of determination (i) the Junior Noteholders holding greater than 50% of the aggregate
Principal Balance of the Junior Notes, unless a Control Appraisal Period has occurred and is continuing or (ii) if a Control Appraisal
Period has occurred and is continuing, the Note A-1 Holder; provided that at any time the Note A-1 Holder is the Controlling
Noteholder and Note A-1 is included in the Lead Securitization, the rights of the “Controlling Noteholder” may be exercised
by the holders of the majority of the class of securities issued in the Lead Securitization designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder”
hereunder, as and to the extent provided in the Servicing Agreement. If at any time 50% or more of Note A-1 is held by the Mortgage
Loan Borrower or a Mortgage Loan Borrower Related Party, the Note A-1 Holder shall not be entitled to exercise any rights of the
Controlling Noteholder and neither the Note A-1 Holder nor any other person (other than the Junior Noteholders holding greater
than 50% of the aggregate Principal Balance of the Junior Notes, so long as a Control Appraisal Period has not occurred) shall
be entitled to exercise the rights of the Controlling Noteholder (and if Note A-1 is included in a Securitization, the applicable
Pooling and Servicing Agreement shall contain limitations on the rights of the Controlling Noteholder that can be exercised by
a certificateholder that is the Mortgage Loan Borrower or has certain relationships with the Mortgage Loan Borrower).

 

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

 

“CREFC®
Investor Reporting Package®” shall have the meaning assigned to such term or an analogous term in the
Servicing Agreement.

 

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

 

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

 

“Defaulted Mortgage
Loan Purchase Price” shall mean the sum, without duplication, of (a) the Principal Balance of each Senior Note,
(b) accrued and unpaid interest thereon at the Note A-1 Rate, the Note A-2 Rate, the Note-A-3 Rate, the Note A-4 Rate, the
Note A-5 Rate, the Note A-6 Rate, the Note A-7 Rate, the Note A-8 Rate, the Note A-9 Rate and the Note A-10 Rate, respectively,
from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including the end of the interest
accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c) any other amounts due under
the Mortgage Loan, other than Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, provided
that if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser, the Defaulted Mortgage Loan Purchase
Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication
of amounts under clause (c), any unreimbursed property protection or servicing Advances and any expenses incurred in enforcing
the Mortgage Loan Documents (including, without limitation, servicing Advances payable or reimbursable to any Servicer, and earned
and unreimbursed special servicing fees), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance
Interest Amount, (f) any amounts payable in respect of the Mortgage Loan to the Asset Representations Reviewer, (g) if (i) the
Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser or (ii) the Mortgage Loan is purchased

 

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after
ninety (90) days after the first such option becomes exercisable pursuant to Section 12 of this Agreement, any liquidation
or workout fees payable under the Servicing Agreement with respect to the Mortgage Loan and (h) any Recovered Costs not reimbursed
previously to any Senior Note pursuant to this Agreement. Notwithstanding the foregoing, if a Junior Noteholder is purchasing from
the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, the Defaulted Mortgage Loan Purchase Price shall not include
the amounts described under clauses (d) through (h) 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 Note A-1 Rate, the Note A-2 Rate, the Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, the Note A-6 Rate, the
Note A-7 Rate, the Note A-8 Rate, the Note A-9 Rate and the Note A-10 Rate, as applicable, as if the Mortgage Loan were not so
converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the Junior Noteholders
under this Agreement.

 

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

 

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

 

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

 

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

 

“Final Recovery
Determination” shall have the meaning assigned to such term in the Servicing Agreement.

 

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

 

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

 

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

 

“Indemnified
Items” shall mean, collectively, any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments
and any other costs, liabilities, fees and expenses incurred in connection with the servicing and administration of the Mortgage
Loan and the Mortgaged Property (or, with respect to the Operating Advisor, incurred in connection with the provision of services
for the Mortgage Loan) under the 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, the Asset Representations Reviewer and the Depositor (and any director, officer, employee or agent of any of the foregoing,
to the extent such parties are

 

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identified as indemnified parties in the Lead Securitization Servicing Agreement in respect of other
mortgage loans) and (ii) the Lead Securitization Trust.

 

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

 

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

 

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

 

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

 

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

 

“Initial Note
A-5 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-6 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-7 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-8 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-9 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial Note
A-10 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

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

 

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

 

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

 

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

 

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“Initial Junior
Noteholders” shall mean, collectively, the Initial Note B-1 Holder, the Initial Note B-2 Holder, the Initial Note B-3
Holder, the Initial Note B-4 Holder, the Initial Note B-5 Holder, the Initial Note B-6 Holder, the Initial Note B-7 Holder, the
Initial Note B-8 Holder, the Initial Note B-9 Holder and the Initial Note B-10 Holder.

 

“Initial Senior
Noteholders” shall mean, collectively, the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3
Holder, the Initial Note A-4 Holder, the Initial Note A-5 Holder, the Initial Note A-6 Holder, the Initial Note A-7 Holder, the
Initial Note A-8 Holder, the Initial Note A-9 Holder and the Initial Note A-10 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 collectively refer to any such entity or entities.

 

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

 

“Interim Servicing
Agreement” shall mean that certain interim servicing agreement to be negotiated in good faith between the parties hereto
after the date hereof.  Until such time as the parties hereto execute an Interim Servicing Agreement, the Noteholders shall
cause the Mortgage Loan to be serviced by Société Générale, who shall cause Wells Fargo Bank, N.A.
to subservice the Mortgage Loan in accordance with this Agreement and the customary and usual servicing practices of originators
of commercial mortgage loans intended to be securitized. The Servicing Fee Rate under the Interim Servicing Agreement will be 1
basis point per annum, paid monthly based on the outstanding principal balance of the Notes and calculated on the same basis as
interest on the Mortgage Loan.

 

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

 

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“Junior Notes”
shall mean, collectively, the Note B-1, the Note B-2, the Note B-3, the Note B-4, the Note B-5, the Note B-6, the Note B-7, the
Note B-8, the Note B-9 and the Note B-10.

 

“Junior Noteholders”
shall mean, collectively, the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder,
the Note B-6 Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder.

 

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

 

“Lead Securitization”
shall mean (a) during the period from and after the Securitization Date and prior to the CFCRE 2016-C6 Securitization Date, the
Securitization of the first Note or portion thereof and (b) on and after the CFCRE 2016-C6 Securitization Date, the CFCRE 2016-C6
Securitization.

 

“Lead Securitization
Note” shall mean (a) during the period from and after the Securitization Date and prior to the CFCRE 2016-C6 Securitization
Date, the related first Note or portion thereof contributed to a Securitization, and (b) on and after the CFCRE 2016-C6 Securitization
Date, Note A-1, except that for so long as Note A-1 and Note A-6 are included in the CFCRE 2016-C6 Securitization, Lead Securitization
Note shall mean, collectively, Note A-1 and Note A-6.

 

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

 

“Lead Securitization
Servicing Agreement” shall mean (a) during the period from and after the Securitization Date and prior to the CFCRE 2016-C6
Securitization Date, the Servicing Agreement governing the Securitization of the first Note or portion thereof and (b) on and after
the CFCRE 2016-C6 Securitization Date, the Securitization Servicing Agreement.

 

“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.

 

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

 

“Major Decisions”
shall mean:

 

(i)          any workout or other change to any Mortgage Loan that would result in any modification of, or waiver with respect to, the
Mortgage Loan that would result in the extension of the maturity date or extended maturity date thereof, a reduction in the interest
rate borne thereby or the monthly debt service payment or a deferral or a forgiveness of interest on or principal of the Mortgage
Loan or a modification or waiver of any other monetary term of the Mortgage Loan relating to the amount or timing of any payment
of principal, interest,

 

    12 

    	 

    

 

Prepayment
Premiums or any other sums (including reserve requirements) due and payable under the Mortgage Loan Documents or a modification
or waiver of any material non-monetary provision of the Mortgage Loan, including but not limited to provisions which restrict
the Mortgage Loan Borrower or its equity owners from incurring additional indebtedness or transferring interests in the Mortgaged
Property or the Mortgage Loan Borrower;

 

(ii)         any modification of, or waiver with respect to, the Mortgage Loan that would result in a discounted pay-off of the Junior
Notes;

 

(iii)        any foreclosure upon or comparable conversion (which may include acquisition of a REO Property) of the ownership of the
Mortgaged Property or any acquisition of the Mortgaged Property by deed-in-lieu of foreclosure or any other exercise of remedies
following an Event of Default;

 

(iv)        any material direct or indirect sale of all or any material portion of the Mortgaged Property or REO Property;

 

(v)         any determination to bring the REO property into compliance with applicable environmental laws or to otherwise address
hazardous material located at the REO Property;

 

(vi)        any substitution, release or addition of collateral for the Mortgage Loan other than those required pursuant to the specific
terms of the Mortgage Loan Documents and for which there is no lender discretion;

 

(vii)       any release of the Mortgage Loan Borrower or guarantor from liability with respect to the Mortgage Loan including, without
limitation, by acceptance of an assumption of the Mortgage Loan by a successor Mortgage Loan Borrower or replacement guarantor
except as expressly permitted by the Mortgage Loan Documents;

 

(viii)      any determination (1) not to enforce a “due-on-sale” or “due–on–encumbrance” clause
(unless such clause is not exercisable under applicable law or such exercise is reasonably likely to result in successful legal
action by the Mortgage Loan Borrower) or (2) accelerate a Mortgage Loan (other than automatic accelerations pursuant to the Mortgage
Loan Documents);

 

(ix)        any transfer of the Mortgaged Property or any portion thereof, or any transfer of any direct or indirect ownership interest
in the Mortgage Loan Borrower, except in each case as expressly permitted by the Mortgage Loan Documents;

 

(x)         any incurring of additional debt by the Mortgage Loan Borrower, including the terms of any document evidencing or securing
any such additional debt and of any intercreditor or subordination agreement executed in connection therewith and any waiver of
or amendment or modification to the terms of any such document or agreement or incurring of mezzanine financing by any

 

    13 

    	 

    

 

beneficial
owner of the Mortgage Loan Borrower, including the terms of any document evidencing or securing any such mezzanine debt and of
any intercreditor or subordination agreement executed in connection therewith and any waiver of or amendment or modification to
the terms of any such document or agreement (to the extent Lender’s approval is required by the Mortgage Loan Documents);

 

(xi)        the waiver or modification of any documentation relating to the Guarantor’s obligations under the Guaranty (as defined
in the Mortgage Loan Documents);

 

(xii)       the voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Mortgage Loan Borrower
unless any option to purchase the Senior Notes pursuant to Section 12 of this Agreement has expired or been waived under
Section 12 hereunder;

 

(xiii)      any determination of an Acceptable Insurance Default with respect to the Mortgaged Property;

 

(xiv)      the approval of any Annual Budget (as defined in the Loan Agreement), to the extent Lender shall have such approval under
the Loan Agreement;

 

(xv)       the approval of any Major Lease (as defined in the Loan Agreement), to the extent Lender shall have such approval under
the Loan Agreement;

 

(xvi)      the releases of any escrows or reserve accounts other than those required pursuant to the specific terms of the Mortgage
Loan Documents and for which there is no material lender discretion;

 

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

 

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

 

“Master Servicer
Remittance Date” shall mean:

 

(a) 
with respect to Note A-1, Note A-6 and the Junior Notes, the “Master Servicer Remittance Date” (or analogous
term) as defined in the Servicing Agreement; and

 

(b) with
respect to Note A-2, Note A-3, Note A-4, Note A-5, Note A-7, Note A-8, Note A-9 and Note A-10, the earlier of (a) the “Master
Servicer Remittance Date” (or analogous term) as defined in the Servicing Agreement or (b) the first Business Day after
the “determination date,” as such term or a similar term is defined in the applicable Pooling and Servicing Agreement,
provided, however, that no remittance is required to

 

    14 

    	 

    

 

be made until two Business Days after receipt of
the scheduled monthly payment with respect to the Mortgage Loan.

 

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

 

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

 

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

 

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

 

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

 

“Morningstar”
shall mean Morningstar Credit Ratings, LLC, 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 October 5, 2016, between the Mortgage Loan Borrower and SG, BANA,
Cantor and Barclays, as the same may be amended, restated, renewed, extended, modified or supplemented from time to time, subject
to the terms hereof.

 

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

 

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

 

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

 

“Mortgage Loan
Rate” shall mean, as of any date of determination, the weighted average of the Note A-1 Rate, the Note A-2 Rate, the
Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, the Note A-6 Rate, the Note A-7 Rate, the Note A-8 Rate, the Note A-9 Rate,
the Note A-10 Rate, the Note B-1 Rate, the Note B-2 Rate, the Note B-3 Rate, the Note B-4 Rate,

 

    15 

    	 

    

 

the Note B-5 Rate, the Note B-6
Rate, the Note B-7 Rate, the Note B-8 Rate, the Note B-9 Rate and the Note B-10 Rate.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Net Note A-6
Rate” shall mean the Note A-6 Rate minus the Servicing Fee Rate applicable to Note A-6.

 

“Net Note A-7
Rate” shall mean the Note A-7 Rate minus the Servicing Fee Rate applicable to Note A-7.

 

“Net Note A-8
Rate” shall mean the Note A-8 Rate minus the Servicing Fee Rate applicable to Note A-8.

 

“Net Note A-9
Rate” shall mean the Note A-9 Rate minus the Servicing Fee Rate applicable to Note A-9.

 

“Net Note A-10
Rate” shall mean the Note A-10 Rate minus the Servicing Fee Rate applicable to Note A-10.

 

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

 

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

 

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

 

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

 

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

 

    16 

    	 

    

 

“Net Note B-6
Rate” shall mean the Note B-6 Rate minus the Servicing Fee Rate applicable to Note B-6.

 

“Net Note B-7
Rate” shall mean the Note B-7 Rate minus the Servicing Fee Rate applicable to Note B-7.

 

“Net Note B-8
Rate” shall mean the Note B-8 Rate minus the Servicing Fee Rate applicable to Note B-8.

 

“Net Note B-9
Rate” shall mean the Note B-9 Rate minus the Servicing Fee Rate applicable to Note B-9.

 

“Net Note B-10
Rate” shall mean the Note B-10 Rate minus the Servicing Fee Rate applicable to Note B-10

 

“Non-Controlling
Class Representative” shall mean the holders of the majority of the class of securities issued in the Securitization
of a Non-Lead Securitization Note designated as the “controlling class” pursuant to the related Non-Lead Servicing
Agreement or their duly appointed representative; provided that if 50% or more of the class of securities issued in a 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 the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan
Borrower, no person shall be entitled to exercise the rights of such Non-Controlling Class Representative.

 

“Non-Controlling
Note” shall mean each of Note A-1 (solely during such time as the holder of greater than 50% of the aggregate Principal
Balance of the Junior Notes is the Controlling Noteholder), Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8,
Note A-9 and Note A-10 or any New Note(s) issued in respect thereof.

 

“Non-Controlling
Noteholder” means each holder of a Non-Controlling Note; provided that, at any time a Non-Controlling Note is
included in a Securitization, the consultation and other rights of a “Non-Controlling Noteholder” herein may be exercised
by the directing certificateholder under the applicable Pooling and Servicing Agreement or any other party assigned the rights
to exercise the rights of a “Non-Controlling Noteholder” hereunder, as and to the extent provided in the applicable
Pooling and Servicing Agreement and as to the identity of which the Master Servicer and the Special Servicer has been given written
notice.

 

“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 Note A-1 Holder, the
Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder, the Note
A-8 Holder, the Note A-9 Holder and the Note A-10 Holder to make such payments free of any obligation or liability for withholding.

 

    17 

    	 

    

 

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

 

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

 

“Non-Lead Securitization
Note” shall mean (x) prior to the CFCRE 2016-C6 Securitization Date, each Senior Note other than the first Note or portion
thereof contributed to a Securitization, and (y) after the CFCRE 2016-C6 Securitization Date, each of Note A-2, Note A-3, Note
A-4, Note A-5, Note A-7, Note A-8, Note A-9 and Note A-10, as applicable.

 

“Non-Lead Securitization
Noteholder” shall mean (x) prior to the CFCRE 2016-C6 Securitization Date, the Noteholder of each Note other than the
Noteholder of the first Note or portion thereof contributed to a Securitization, and (y) after the CFCRE 2016-C6 Securitization
Date, each of the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-7 Holder, the Note
A-8 Holder, the Note A-9 Holder or the Note A-10 Holder, as applicable.

 

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

 

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

 

“Non-Lead Servicing
Agreement” shall mean the Pooling and Servicing Agreement entered into in connection with the Securitization of a Non-Lead
Securitization Note.

 

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

 

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

 

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

 

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

 

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

 

“Nonrecoverable
Servicing Advance” shall have the meaning assigned to such term (or equivalent term) in the Servicing Agreement.

 

“Note”
shall mean any of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, Note A-6, Note A-7, Note A-8, Note A-9, Note A-10, Note B-1,
Note B-2, Note B-3 and Note B-4, Note B-5, Note B-6, Note B-7, Note B-8, Note B-9 and Note B-10, as applicable.

 

    18 

    	 

    

 

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

 

“Note A-1 Holder”
shall mean the Initial Note A-1 Holder, or any subsequent holder of Note A-1, 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 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 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

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

 

“Note A-1 Relative
Spread” shall mean the ratio of the Note A-1 Rate to the Mortgage Loan Rate.

 

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

 

“Note A-2 Holder”
shall mean the Initial Note A-2 Holder, or any subsequent holder of Note A-2, 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

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

 

    19 

    	 

    

 

“Note A-2 Relative
Spread” shall mean the ratio of the Note A-2 Rate to the Mortgage Loan Rate.

 

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

 

“Note A-3 Holder”
shall mean the Initial Note A-3 Holder, or any subsequent holder of Note A-3, 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 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 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-3 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

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

 

“Note A-3 Relative
Spread” shall mean the ratio of the Note A-3 Rate to the Mortgage Loan Rate.

 

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

 

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

 

“Note A-4 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-4 Principal Balance
and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

    20 

    	 

    

 

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

 

“Note A-4 Relative
Spread” shall mean the ratio of the Note A-4 Rate to the Mortgage Loan Rate.

 

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

 

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

 

“Note A-5 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-5 Principal Balance
and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

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

 

“Note A-5 Relative
Spread” shall mean the ratio of the Note A-5 Rate to the Mortgage Loan Rate.

 

“Note A-6”
shall have the meaning assigned to such term in the recitals.

 

“Note A-6 Holder”
shall mean the Initial Note A-6 Holder, or any subsequent holder of Note A-6, together with its successors and assigns.

 

“Note A-6 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-6 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

    21 

    	 

    

 

“Note A-6 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-6 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note A-6 Rate”
shall mean the Note A-6 Rate set forth on the Mortgage Loan Schedule.

 

“Note A-6 Relative
Spread” shall mean the ratio of the Note A-6 Rate to the Mortgage Loan Rate.

 

“Note A-7”
shall have the meaning assigned to such term in the recitals.

 

“Note A-7 Holder”
shall mean the Initial Note A-7 Holder, or any subsequent holder of Note A-7, together with its successors and assigns.

 

“Note A-7 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-7 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note A-7 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note A-7 Rate”
shall mean the Note A-7 Rate set forth on the Mortgage Loan Schedule.

 

“Note A-7 Relative
Spread” shall mean the ratio of the Note A-7 Rate to the Mortgage Loan Rate.

 

“Note A-8”
shall have the meaning assigned to such term in the recitals.

 

“Note A-8 Holder”
shall mean the Initial Note A-8 Holder, or any subsequent holder of Note A-8, together with its successors and assigns.

 

“Note A-8 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-8 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2

    22 

    	 

    

 

Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note A-8 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-8 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-8 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note A-8 Rate”
shall mean the Note A-8 Rate set forth on the Mortgage Loan Schedule.

 

“Note A-8 Relative
Spread” shall mean the ratio of the Note A-8 Rate to the Mortgage Loan Rate.

 

“Note A-9”
shall have the meaning assigned to such term in the recitals.

 

“Note A-9 Holder”
shall mean the Initial Note A-9 Holder, or any subsequent holder of Note A-9, together with its successors and assigns.

 

“Note A-9 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-9 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note A-9 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-9 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-9 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note A-9 Rate”
shall mean the Note A-9 Rate set forth on the Mortgage Loan Schedule.

 

“Note A-9 Relative
Spread” shall mean the ratio of the Note A-9 Rate to the Mortgage Loan Rate.

 

“Note A-10”
shall have the meaning assigned to such term in the recitals.

 

“Note A-10 Holder”
shall mean the Initial Note A-10 Holder, or any subsequent holder of Note A-10, together with its successors and assigns.

 

“Note A-10 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-10 Principal Balance
and the denominator of which is the

 

    23 

    	 

    

 

sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note A-10 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-10 Balance set
forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-10 Holder or reductions in such
amount pursuant to Sections 3, 4 or 5, as applicable.

 

“Note A-10 Rate”
shall mean the Note A-10 Rate set forth on the Mortgage Loan Schedule.

 

“Note A-10 Relative
Spread” shall mean the ratio of the Note A-10 Rate to the Mortgage Loan Rate.

 

“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, and its successors in interest, or any subsequent holder of Note B-1.

 

“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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-1 Principal
Balance” shall mean, 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 or reductions in such amount pursuant to Section 3, 4 or 5,
as applicable.

 

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

 

“Note B-1 Relative
Spread” shall mean the ratio of the Note B-1 Rate to the Mortgage Loan Rate.

 

“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, and its successors in interest, or any subsequent holder of Note B-2.

 

 

    24 

    	 

    

 

“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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

“Note B-2 Relative
Spread” shall mean the ratio of the Note B-2 Rate to the Mortgage Loan Rate.

 

“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, and its successors in interest, or any subsequent holder of Note B-3.

 

“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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

“Note B-3 Relative
Spread” shall mean the ratio of the Note B-3 Rate to the Mortgage Loan Rate.

 

“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, and its successors in interest, or any subsequent holder of Note B-4.

 

“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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2

    25 

    	 

    

 

Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

“Note B-4 Relative
Spread” shall mean the ratio of the Note B-4 Rate to the Mortgage Loan Rate.

 

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

 

“Note B-5 Holder”
shall mean the Initial Note B-5 Holder, and its successors in interest, or any subsequent holder of Note B-5.

 

“Note B-5 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-5 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

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

 

“Note B-5 Relative
Spread” shall mean the ratio of the Note B-5 Rate to the Mortgage Loan Rate.

 

“Note B-6”
shall have the meaning assigned to such term in the recitals.

 

“Note B-6 Holder”
shall mean the Initial Note B-6 Holder, and its successors in interest, or any subsequent holder of Note B-6.

 

“Note B-6 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-6 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-6 Rate”
shall mean the Note B-6 Rate set forth on the Mortgage Loan Schedule.

 

    26 

    	 

    

 

“Note B-6 Relative
Spread” shall mean the ratio of the Note B-6 Rate to the Mortgage Loan Rate.

 

“Note B-7”
shall have the meaning assigned to such term in the recitals.

 

“Note B-7 Holder”
shall mean the Initial Note B-7 Holder, and its successors in interest, or any subsequent holder of Note B-7.

 

“Note B-7 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-7 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-7 Rate”
shall mean the Note B-7 Rate set forth on the Mortgage Loan Schedule.

 

“Note B-7 Relative
Spread” shall mean the ratio of the Note B-7 Rate to the Mortgage Loan Rate.

 

“Note B-8”
shall have the meaning assigned to such term in the recitals.

 

“Note B-8 Holder”
shall mean the Initial Note B-8 Holder, and its successors in interest, or any subsequent holder of Note B-8.

 

“Note B-8 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-8 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-8 Rate”
shall mean the Note B-8 Rate set forth on the Mortgage Loan Schedule.

 

“Note B-8 Relative
Spread” shall mean the ratio of the Note B-8 Rate to the Mortgage Loan Rate.

 

“Note B-9”
shall have the meaning assigned to such term in the recitals.

 

    27 

    	 

    

 

“Note B-9 Holder”
shall mean the Initial Note B-9 Holder, and its successors in interest, or any subsequent holder of Note B-9.

 

“Note B-9 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-9 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-9 Rate”
shall mean the Note B-9 Rate set forth on the Mortgage Loan Schedule.

 

“Note B-9 Relative
Spread” shall mean the ratio of the Note B-9 Rate to the Mortgage Loan Rate.

 

“Note B-10”
shall have the meaning assigned to such term in the recitals.

 

“Note B-10 Holder”
shall mean the Initial Note B-10 Holder, and its successors in interest, or any subsequent holder of Note B-10.

 

“Note B-10 Percentage
Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-10 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 A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal
Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal
Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal
Balance and the Note B-10 Principal Balance.

 

“Note B-10 Rate”
shall mean the Note B-10 Rate set forth on the Mortgage Loan Schedule.

 

“Note B-10 Relative
Spread” shall mean the ratio of the Note B-10 Rate to the Mortgage Loan Rate.

 

“Note Default
Interest Spread” shall mean a rate per annum equal to the lesser of (i) the rate that, when added to the weighted average
of the Note Rates equals the maximum rate permitted by applicable law, or (ii) four percent (4%).

 

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

 

“Note Rate”
shall mean any of the Note A-1 Rate, the Note A-2 Rate, the Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, the Note A-6 Rate,
the Note A-7 Rate, the Note

 

    28 

    	 

    

 

A-8 Rate, the Note A-9 Rate, the Note A-10 Rate, the Note B-1 Rate, the Note B-2 Rate, the Note B-3
Rate, the Note B-4 Rate, the Note B-5 Rate, the Note B-6 Rate, the Note B-7 Rate, the Note B-9 Rate or the Note B-10 Rate, as applicable.

 

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

 

“Noteholder”
shall mean any of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the
Note A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder, the Note A-10 Holder, the Note B-1 Holder, the
Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, Note B-5 Holder, Note B-6, Note B-7 Holder, Note B-8 Holder, Note B-9
Holder and Note B-10 Holder, as applicable.

 

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

 

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

 

“P&I Advance”
shall mean an advance made by (a) a party to the Servicing Agreement in respect of a delinquent monthly debt service payment on
the Lead Securitization Note or (b) a party to any Non-Lead Servicing Agreement in respect of a delinquent monthly debt service
payment on the related Non-Lead Securitization 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, with respect to the Note A-3 Holder, the Note A-3 Percentage Interest, with respect
to the Note A-4 Holder, the Note A-4 Percentage Interest, with respect to the Note A-5 Holder, the Note A-5 Percentage Interest,
with respect to the Note A-6 Holder, the Note A-6 Percentage Interest, with respect to the Note A-7 Holder, the Note A-7 Percentage
Interest, with respect to the Note A-8 Holder, the Note A-8 Percentage Interest, with respect to the Note A-9 Holder, the Note
A-9 Percentage Interest, with respect to the Note A-10 Holder, the Note A-10 Percentage Interest, 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, with respect to
the Note B-3 Holder, the Note B-3 Percentage Interest, with respect to the Note B-4 Holder, the Note B-4 Percentage Interest, with
respect to the Note B-5 Holder, the Note B-5 Percentage Interest, with respect to the Note B-6 Holder, the Note B-6 Percentage
Interest, with respect to the Note B-7 Holder, the Note B-7 Percentage Interest, with respect to the Note B-8 Holder, the Note
B-8 Percentage Interest, with respect to the Note B-9 Holder, the Note B-9 Percentage Interest and with respect to the Note B-10
Holder, the Note B-10 Percentage Interest, as each may be adjusted from time to time.

 

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C
attached hereto and made a part hereof or any other 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.

 

    29 

    	 

    

 

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

 

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

 

“Pooling and
Servicing Agreement” shall mean a “pooling and servicing agreement”, “trust and servicing agreement”
or similar agreement entered into in connection with a Securitization of a Note.

 

“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.

 

“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 A-4
Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8
Principal Balance, the Note A-9 Principal Balance, the Note A-10 Principal Balance, the Note B-1 Principal Balance, the Note B-2
Principal Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal Balance, the Note B-6
Principal Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal Balance and the Note
B-10, as applicable.

 

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

 

“Qualified Institutional
Lender” shall mean each of the Initial Noteholders, Teachers Insurance and Annuity Association of America and any other
U.S. Person that is:

 

(a)          an entity Controlled by, under common Control with or Controlling any of the Initial Senior Noteholders or the Initial Junior
Noteholders or their respective Affiliates, or

 

(b)         one or more of the following:

 

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

 

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

 

    30 

    	 

    

 

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 CLO, 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 loan obligations (“CLO”) secured by, or (c) a financing
through an “owner trust” of, any or all 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 such
securitization; (2) the special servicer of such Securitization Vehicle has a Required Special Servicer Rating (such entity, an
“Approved Servicer”) and such Approved Servicer is required to service and administer such Note in accordance
with servicing arrangements for the assets held by the Securitization Vehicle which require that such Approved Servicer act in
accordance with a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the
case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each Intervening Trust Vehicle that
is not administered and managed by a CLO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional
Lender under clauses (i), (ii), (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 $200,000,000, in which (A) any 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), (ii), (iii)(a), (iv)(B) or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory
surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000
in total assets (in name or under management), and (y) is regularly engaged in the business of making or owning commercial real
estate loans (or interests therein) similar to the Mortgage Loan or mezzanine loans with respect to commercial real estate or owning
or operating commercial real estate properties; provided that, in the case of the entity described in clause (iv) (B) above, the

 

    31 

    	 

    

 

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 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.

 

“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 $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 rated either of the then in effect top two rating categories of each of the applicable Rating
Agencies.

 

“Rating Agencies”
shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar and S&P and their respective successors in interest or, if any of
such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally recognized
statistical rating agency reasonably designated by the Depositor or applicable 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 the Mortgage
Loan is an asset of one or more Securitizations, “Rating Agencies” or “Rating Agency” shall mean with respect
to the Senior Notes, only those rating agencies that are engaged by the Depositor or applicable Non-Lead Depositor from time to
time to rate the securities issued in connection with the Securitization of such Note.

 

“Rating Agency
Confirmation” shall have the meaning given thereto or any analogous term in the Servicing Agreement or Non-Lead Securitization
Agreement, as applicable, including any deemed or waived 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 19(e).

 

“Regulation
AB” shall mean Subpart 229.1100 –- Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100 - 229.1125,
as such rules may be amended and are in effect from time to time, but only to the extent compliance is required as of the applicable
date of determination, and subject to such clarification and interpretation as have been provided by the SEC or by the staff of
the SEC, or as may be provided by the SEC or its staff from time to time.

 

    32 

    	 

    

 

“Relative Spread”
shall mean the Note A-1 Relative Spread, the Note A-2 Relative Spread, the Note A-3 Relative Spread, the Note A-4 Relative Spread,
the Note A-5 Relative Spread, the Note A-6 Relative Spread, the Note A-7 Relative Spread, the Note A-8 Relative Spread, the Note
A-9 Relative Spread, the Note A-10 Relative Spread, the Note B-1 Relative Spread, the Note B-2 Relative Spread, the Note B-3 Relative
Spread, the Note B-4 Relative Spread, the Note B-5 Relative Spread, the Note B-6 Relative Spread, the Note B-7 Relative Spread,
the Note B-8 Relative Spread, the Note B-9 Relative Spread or the Note B-10 Relative Spread, as the context may require.

 

“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.

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage
Special Servicer, (iii) in the case of Moody’s, 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, (iv) in the case of Morningstar, either (a) the applicable replacement has
a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by
Morningstar, is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of
the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Fitch, DBRS or KBRA and the trustee
does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar has not, with
respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more classes of
such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such rating action,
(v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in a transaction serviced by such special servicer prior to the time of determination and (vi) in the case of DBRS,
such special servicer is currently acting as special servicer for one or more loans included in a commercial mortgage loan securitization
that was rated by DBRS, and DBRS has not downgraded or withdrawn the then current rating on any class of commercial mortgage securities
or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as the sole or
material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination.

 

    33 

    	 

    

 

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

 

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

 

“SEC”
shall mean the Securities and Exchange Commission.

 

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

 

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

 

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

 

“Senior Note
Percentage Interest” shall mean a shall mean a fraction, expressed as a percentage, the numerator 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 A-4 Principal Balance,
the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8 Principal Balance,
the Note A-9 Principal Balance and the Note A-10 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 A-4 Principal Balance, the Note A-5 Principal
Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8 Principal Balance, the Note A-9 Principal
Balance, the Note A-10 Principal Balance, the Note B-1 Principal Balance, the Note B-2 Principal Balance, the Note B-3 Principal
Balance, the Note B-4 Principal Balance, the Note B-5 Principal Balance, the Note B-6 Principal Balance, the Note B-7 Principal
Balance, the Note B-8 Principal Balance, the Note B-9 Principal Balance and the Note B-10 Principal Balance.

 

“Senior Noteholders”
shall mean, collectively, the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder,
the Note A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder.

 

“Senior Notes”
shall mean, collectively, the Note A-1, the Note A-2, the Note A-3, the Note A-4, the Note A-5, the Note A-6, the Note A-7, the
Note A-8, the Note A-9 and the Note A-10.

 

“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

 

    34 

    	 

    

 

of the Mortgage Loan. A Sequential
Pay Event shall no longer exist if (1) it has been cured, or (2) any Junior Noteholder is exercising its cure rights under Section
11.

 

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

 

“Servicer Termination
Event” shall have the meaning assigned to such term in the Servicing Agreement or at any time that the Mortgage Loan
is no longer subject to the provisions of the Servicing Agreement, any analogous concept under the servicing agreement pursuant
to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

 

“Servicing Advance”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement
or Non-Lead Servicing Agreement, as applicable.

 

“Servicing Agreement”
shall mean, with respect to the Mortgage Loan, (i) prior to the Securitization Date, the Interim Servicing Agreement, (ii) during
the period from and after the Securitization Date and prior to the CFCRE 2016-C6 Securitization Date, the related pooling and servicing
agreement for the Securitization of the first Note or portion thereof, and, (iii) from and after the CFCRE 2016-C6 Securitization
Date, the pooling and servicing agreement to be entered into in connection with the Securitization of Note A-1 and Note A-6 (the
“Securitization Servicing Agreement”) and issuance of the CFCRE 2016-C6 Mortgage Trust Commercial Mortgage Pass-Through
Certificates Series 2016-C6, by and among (a) the Depositor, (b) the Master Servicer, (c) the Special Servicer, (d) the
Certificate Administrator, (e) the Trustee, (f) the Operating Advisor and (g) the Asset Representations Reviewer, and any other
additional Persons that may be party to such pooling and servicing agreement. 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 Notes are subordinate to the Senior Notes, in each case subject to the terms
of this Agreement).

 

“Servicing Fee
Rate” shall have the meaning assigned to such term in the Servicing Agreement; provided that no Servicing Fee
shall be allocated to the Junior Notes.

 

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

 

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

 

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

 

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

 

    35 

    	 

    

 

“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 repo financing or a Pledge in accordance with Section 19(e)).

 

“Trustee”
shall mean the bank or trust company as may be selected by the Depositor and approved by the Rating Agencies to act as trustee
or certificate administrator, as applicable, for the Lead Securitization.

 

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

 

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

 

Section 2.          Servicing.

 

(a) Each Noteholder
acknowledges and agrees that, as further provided in Section 5 of this this Agreement, the Mortgage Loan shall be
serviced pursuant to the Servicing Agreement. Each Noteholder acknowledges that each other Noteholder may elect, in its sole
discretion, to include its Note in a Securitization and agrees that it will, subject to Section 24, reasonably
cooperate with a securitizing Noteholder at the securitizing Noteholder’s expense, 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, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the
Certificate Administrator 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 this Agreement and the Servicing Agreement. Each Noteholder hereby irrevocably appoints the Master Servicer, the Special
Servicer and the Trustee in the Securitization as such Noteholder’s attorney-in-fact to sign any

 

    36 

    	 

    

 

documents reasonably required with respect to the administration and servicing
of the Mortgage Loan on its behalf under the Securitization Servicing Agreement (subject at all times to the rights of the Noteholder
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 another Noteholder or limit the Servicer in enforcing the rights of one Noteholder against the
other Noteholder; however, this statement shall not be construed to otherwise limit the rights of one Noteholder with respect to
the other Noteholder.

 

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

 

(c) The Master
Servicer shall be the master servicer of the Mortgage Loan, and from time to time it (or the Trustee, to the extent provided
in the Servicing Agreement) (i) shall be required to make Servicing Advances with respect to the Mortgage Loan, subject to
the terms of the Servicing Agreement and this Agreement, and (ii) may be required to make P&I Advances on the Lead
Securitization Note, if and to the extent provided in the Servicing Agreement and this Agreement. The Master Servicer, the
Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for a Servicing Advance, first from funds
on deposit in the Collection Account or Companion Distribution Account for the Mortgage Loan that (in any case) represent
amounts received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable Servicing Advances, if such
funds on deposit in the Collection Account or Companion Distribution Account with respect to the Mortgage Loan are
insufficient, from general collections of the Lead Securitization as provided in the Servicing Agreement and from each
Non-Lead Securitization Noteholder as provided below. The Master Servicer, the Special Servicer and the Trustee, as
applicable, will be entitled to reimbursement for Advance Interest Amounts on a Servicing Advance or a
Nonrecoverable Servicing Advance, in the manner and from the sources provided in the Servicing Agreement, including from
general collections of the Lead Securitization and, in the case of Servicing Advances, from general collections of each
Non-Lead Securitization as provided herein. To the extent the Master Servicer, the Special Servicer or the Trustee, as
applicable, obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable
Servicing Advance or any Advance Interest Amounts on a Servicing Advance or a Nonrecoverable Servicing Advance, each Non-Lead
Securitization Noteholder (including from general collections or any other amounts from any Non-Lead Securitization Trust)
shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for its pro
rata share of such Nonrecoverable Servicing Advance or Advance Interest Amounts (it being understood that the pro
rata share payable by each Non-Lead Securitization Noteholder under this paragraph would be determined by allocating such
Nonrecoverable Servicing Advance or Advance Interest Amount, as the case may be, first to the Junior Notes and then to the
Senior Notes, in that order).

 

    37 

    	 

    

 

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

 

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

 

(i)            any
payments received on the Mortgage Loan shall be paid by the Master Servicer to each of the other Noteholders on the Master Servicer
Remittance Date;

 

(ii)           the
Controlling Noteholder shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide, any
information, relating to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as such Person may reasonably
request and in the possession of, or collected or known by, the Master

 

    38 

    	 

    

 

Servicer
or Special Servicer relating to the Mortgage Loan and, in any event, all information that is required to be provided to the “Directing
Certificateholder” or analogous term under the Securitization Servicing Agreement but not limited to standard CREFC®
reports, provided that if an interest in a Junior Note or Junior Noteholder is held by the Mortgage Loan Borrower or a Mortgage
Loan Borrower Related Party, then such Junior Noteholder shall not be entitled to receive the Asset Status Report or any other
information relating to the Special Servicer’s workout strategy or any “Excluded Information” or analogous term
under the Securitization Servicing Agreement;

 

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

 

(iv)          the
Securitization Servicing Agreement may not be amended without the consent of the Junior Noteholders if such amendment would materially
and adversely affect the Mortgage Loan or the Junior Noteholder’s rights with respect thereto; and

 

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

 

(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) Each
Servicer shall be required pursuant to the Servicing Agreement to service the Mortgage Loan in accordance with the Servicing
Standard, the terms of the Mortgage Loan Documents, the Servicing Agreement, this Agreement and applicable law, shall provide
information to each Non-Lead Servicer to enable such Non-Lead Servicer to perform its servicing duties under the
related Non-Lead Servicing Agreement and shall not take any action or refrain from taking any action or follow any direction
inconsistent with the foregoing.

 

(g) At any time
that the Mortgage Loan is no longer subject to the provisions of the Servicing Agreement, the Noteholders agree to cause the
Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Senior Noteholders and the
Junior Noteholders, pursuant to a servicing agreement that has servicing terms substantially similar to the Servicing
Agreement 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, 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 pursuant to the provisions
of the Servicing Agreement as if such agreement were still in full force and effect with respect to the Mortgage Loan, by the
Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Noteholder that is a qualified
servicer meeting the requirements of the Servicing Agreement.

 

    39 

    	 

    

 

(h) If one or more
Junior Noteholders exercise their purchase option in accordance with Section 12 hereof, upon the Mortgage Loan being
transferred to such Junior Noteholders, the Junior Noteholders shall be entitled to terminate the Servicing Agreement with
respect to the Mortgage Loan in their sole discretion, without payment of any termination fees.

 

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

 

(i)           
the Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Servicing Advances (and
advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate to servicing and administration
of the Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and
Workout Fees relating to the Notes, and that in the event that the funds received with respect to such Non-Lead Securitization
Noteholder’s respective Note are insufficient to cover such pro rata share of any Servicing Advances or additional
trust fund expenses, (A) the Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer
or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee,
or the Lead Securitization Trust, as applicable, out of general funds in the collection account (or equivalent account) established
under the Non-Lead Servicing Agreement for the Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable
Servicing Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due
to the Master Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan
and the Mortgaged Property), and (B) if the Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as applicable, may do so, and the Non-Lead Master Servicer
will be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead
Securitization Trust out of general funds in the collection account (or equivalent account) established under the Non-Lead Servicing
Agreement for the Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Servicing Advances
(together with advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master Servicer
and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property);
provided that it being understood that the pro rata share payable by such Non-Lead Securitization Noteholder under
this paragraph would be determined by allocating such Servicing Advances and/or Nonrecoverable Servicing Advance and/or additional
trust fund expenses (solely to the extent specifically related to the servicing and administration of the Mortgage Loan and Mortgaged
Property and not including compensation due to the Master Servicer and Special Servicer), as the case may be, first to the Junior
Notes and then to the Senior Notes, in that order; provided further that the pro rata  share payable by such Non-Lead
Securitization Noteholder under this paragraph would be determined by allocating additional trust expenses that represent compensation
due to the Master Servicer or Special Servicer to the Senior Notes;

 

    40 

    	 

    

 

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

 

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

 

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

 

(j)            [Reserved]

 

(k)           [Reserved]

 

(l) 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 between each Senior Note, pro rata, in accordance with their respective
principal amounts. The Master Servicer shall remit any compensating interest payment in respect of a Non-Lead Securitization
Note to the related Non-Lead Securitization Noteholder.

 

(m) The Servicing Agreement
shall contain the provisions as set forth in Schedule I to this Agreement.

 

(n) It is expressly understood and agreed that the Servicing Agreement shall not (A) allocate to the Junior Noteholders any
negative impact from other mortgage loans serviced

    41 

    	 

    

 

pursuant to the Servicing Agreement or from the failure of the trust created
pursuant to the Servicing Agreement to qualify as a REMIC and (B) impose upon the Junior Noteholders any “Additional Trust
Fund Expenses” or other expenses with respect to any other mortgage loan included in the trust administered by the Trustee
(including, without limitation, expenses for the administration or preservation of the trust as a REMIC or any Rating Agency fees
and expenses except for a Rating Agency Confirmation requested by a Junior Noteholder).

 

(o) Each
Non-Lead Securitization Noteholder shall give each of the parties to the Servicing Agreement (that will not also be a party
to the applicable Non-Lead Servicing Agreement) notice (which may be by email) of the Securitization of the related
Note prior to the closing date for such Securitization. Such notice shall contain contact information for each of the parties
to any Non-Lead Servicing Agreement. In addition, after such Securitization, such Noteholders shall send a copy of the
related Non-Lead Servicing Agreement to each of the parties to the Servicing Agreement.

 

Section 3.          Subordination of Junior Notes; Payments Prior to a Sequential Pay Event. The Junior Notes and the right of the Junior
Noteholders to receive payments of interest, principal and other amounts with respect to the applicable Junior Note 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 to be applied to the restoration or repair of the Mortgaged Property or released
to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC
Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent,
in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on
account of recoveries in respect of Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement
and (y) all amounts that are then due, payable or reimbursable to any Servicer, Operating Advisor, Asset Representations Reviewer,
Certificate Administrator or Trustee with respect to the Mortgage Loan (including any Penalty Charges) pursuant to the Servicing
Agreement, shall be applied by the Lead Securitization Noteholder (or its designee) and distributed by the Servicer for payment
in the following order of priority without duplication (and payments shall be made on the Master Servicer Remittance Date or at
such other times as are set forth in the Servicing Agreement):

 

(a) first,
ratably to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note
A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder in an amount equal to the
accrued and unpaid interest on the Note A-1 Principal Balance at the Net Note A-1 Rate, on the Note A-2 Principal Balance at
the Net Note A-2 Rate, on the Note A-3 Principal Balance at the Net Note A-3 Rate, on the Note A-4 Principal Balance at
the Net Note A-4 Rate, on the Note A-

 

    42 

    	 

    

 

5 Principal Balance at the Net Note A-5 Rate, on the Note A-6 Principal Balance at the Net Note
A-6 Rate, on the Note A-7 Principal Balance at the Net Note A-7 Rate, on the Note A-8 Principal Balance at the Net Note A-8 Rate,
on the Note A-9 Principal Balance at the Net Note A-9 Rate and on the Note A-10 Principal Balance at the Net Note A-10 Rate, respectively;

 

(b) second, to the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the
Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari Passu Basis in an
amount equal to the Percentage Interest of the related Senior Note of principal payments received, if any, with respect to
such Monthly Payment Date with respect to the Mortgage Loan, until their Principal Balances have been reduced to zero; provided,
that with respect to any Insurance Proceeds or Condemnation Proceeds payable as principal to the Noteholders pursuant to this
Section 3, 100% of such Insurance Proceeds and Condemnation Proceeds shall be distributed to the Note A-1 Holder, the Note
A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note
A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari Passu Basis until their Principal Balances have been reduced to
zero;

 

(c) third, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note
A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari Passu
Basis up to the amount of any unreimbursed costs and expenses paid by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder,
the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and
the Note A-10 Holder including any Recovered Costs not previously reimbursed to such Noteholder (or paid or advanced by any Servicer
on its behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing
Agreement;

 

(d) fourth,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6
Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari Passu
Basis in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii) the Note A-1
Relative Spread, the Note A-2 Relative Spread, the Note A-3 Relative Spread, the Note A-4 Relative Spread, the Note A-5
Relative Spread, the Note A-6 Relative Spread, the Note A-7 Relative Spread, the Note A-8 Relative Spread, the Note A-9
Relative Spread or the Note A-10 Relative Spread, as applicable, 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 a Mortgage Loan or Mortgaged Property exceed the
amounts required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout the Note A-1
Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note
A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8 Principal Balance, the
Note A-9 Principal Balance and the Note A-10 Principal Balance have been reduced, such excess amount shall be paid to the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the
Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder, pro

 

    43 

    	 

    

 

rata, in an amount up to the reduction, if any, of the Note A-1 Principal Balance,
the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance,
the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance
and the Note A-10 Principal Balance as a result of such Workout, plus interest on such amount at the related Net Note A-1 Rate,
the Net Note A-2 Rate, the Net Note A-3 Rate, the Net Note A-4 Rate, the Net Note A-5 Rate, the Net Note A-6 Rate, the Net Note
A-7 Rate, the Net Note A-8 Rate, the Net Note A-9 Rate and the Net Note A-10 Rate, as applicable;

 

(f) sixth,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6
Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a pro rata basis
any Penalty Charges;

 

(g) seventh, to the
extent the Junior Noteholders have made any payments or advances to cure defaults pursuant to Section 11, to reimburse
the Junior Noteholders for all such cure payments on a pro rata  basis in accordance with such payments or advances
made;

 

(h) eighth,
ratably, to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note
B-6 Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder in an amount equal to the
accrued and unpaid interest on the Note B-1 Principal Balance at the Net Note B-1 Rate, Note B-2 Principal Balance at the Net
Note B-2 Rate, Note B-3 Principal Balance at the Net Note B-3 Rate, Note B-4 Principal Balance at the Net Note B-4 Rate,
Note B-5 Principal Balance at the Net Note B-5 Rate, Note B-6 Principal Balance at the Net Note B-6 Rate, Note B-7 Principal
Balance at the Net Note B-7 Rate, Note B-8 Principal Balance at the Net Note B-8 Rate, Note B-9 Principal Balance at the Net
Note B-9 Rate and the Note B-10 Principal Balance at the Net Note B-10 Rate, respectively;

 

(i) ninth,
to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note B-6
Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder, on a Pro Rata and Pari
Passu Basis in an amount equal to the Percentage Interest of the related Junior Note of principal payments received, if any,
with respect to such Monthly Payment Date with respect to the Mortgage Loan; provided, that with respect to any
Insurance Proceeds or Condemnation Proceeds payable as principal to the Noteholders 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 to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the
Note B-5 Holder, the Note B-6 Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder
on a Pro Rata and Pari Passu Basis until their Principal Balances have been reduced to zero;

 

(j) tenth,
on a Pro Rata and Pari Passu Basis, to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder,
the Note B-5 Holder, the Note B-6 Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note
B-10 Holder in an amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii) the Note B-1
Relative Spread, the Note B-2 Relative Spread, the Note B-3 Relative Spread, the Note B-4 Relative Spread, the Note B-5
Relative Spread, the Note B-6 Relative Spread, the Note B-7

 

    44 

    	 

    

 

Relative Spread, the Note B-8 Relative Spread, the Note B-9
Relative Spread or the Note B-10 Relative Spread, as applicable, and (iii) any Prepayment Premium to the extent paid by the
Mortgage Loan Borrower;

 

(k) eleventh,
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 Notes has been reduced, such excess amount shall be paid to the Junior Noteholders in an amount up to
the reduction, if any, of the Note B-1 Principal Balance, the Note B-2 Principal Balance, the Note B-3 Principal Balance, the
Note B-4 Principal Balance, the Note B-5 Principal Balance, the Note B-6 Principal Balance, the Note B-7 Principal Balance,
the Note B-8 Principal Balance, the Note B-9 Principal Balance or the Note B-10 Principal Balance, as applicable, as a result
of such Workout, plus interest on such amount at the Net Note B-1 Rate, the Net Note B-2 Rate, the Net Note B-3 Rate, the Net
Note B-4 Rate, the Net Note B-5 Rate, the Net Note B-6 Rate, the Net Note B-7 Rate, the Net Note B-8 Rate, the Net Note B-9
Rate or the Net Note B-10 Rate, as applicable;

 

(l) twelfth,
to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note B-6
Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder, on a Pro Rata and Pari Passu
Basis, in an amount equal to any Penalty Charges received;

 

(m) thirteenth, to
the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be otherwise applied
under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances, to pay
any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments
relate to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan
Borrower, shall be paid to the Senior Noteholders and the Junior Noteholders, pro rata, based on their respective
Percentage Interests; and

 

(n) fourteenth,
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)-(m), any remaining amount shall be paid pro rata to the Senior Noteholders and the
Junior Noteholders in accordance with their respective initial Percentage Interests.

 

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

 

    45 

    	 

    

 

Insurance
Proceeds or Condemnation Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the
Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the
extent permitted by the REMIC Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage
Loan Documents deemed appropriate by the Servicer in accordance with the Servicing Standard to continue to be held as reserves
or escrows or received as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to
the Servicer under Servicing Agreement and (y) all amounts that are then due, payable or reimbursable to any Servicer, Operating
Advisor, Asset Representations Reviewer, Certificate Administrator or Trustee with respect to the Mortgage Loan pursuant to the
Servicing Agreement, shall be distributed by the Servicer in the following order of priority without duplication (and payments
shall be made on the Master Servicer Remittance Date or at such other times as are set forth in the Servicing Agreement):

 

(a) first,
ratably to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note
A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder in an amount equal to the
accrued and unpaid interest on the Note A-1 Principal Balance at the Net Note A-1 Rate, on the Note A-2 Principal Balance at
the Net Note A-2 Rate, on the Note A-3 Principal Balance at the Net Note A-3 Rate, on the Note A-4 Principal Balance at
the Net Note A-4 Rate, on the Note A-5 Principal Balance at the Net Note A-5 Rate, on the Note A-6 Principal Balance at the
Net Note A-6 Rate, on the Note A-7 Principal Balance at the Net Note A-7 Rate, on the Note A-8 Principal Balance at the Net
Note A-8 Rate, on the Note A-9 Principal Balance at the Net Note A-9 Rate and on the Note A-10 Principal Balance at the Net
Note A-10 Rate, respectively;

 

(b) second, to the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the
Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder, pro rata based on the related
outstanding Principal Balance, until such Principal Balance has been reduced to zero;

 

(c) third,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6
Holder, the Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari
Passu Basis up to the amount of any unreimbursed costs and expenses paid by the Note A-1 Holder, the Note A-2 Holder, the
Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder, the Note A-8 Holder, the
Note A-9 Holder and/or the Note A-10 Holder, including any Recovered Costs not previously reimbursed to such Noteholder (or
paid or advanced by any Servicer on its behalf and not previously paid or reimbursed) with respect to the Mortgage Loan
pursuant to this Agreement or the Servicing Agreement;

 

(d) fourth, to the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the
Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder on a Pro Rata and Pari Passu Basis in an
amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii) the Note A-1 Relative Spread, the
Note A-2 Relative Spread, the Note A-3 Relative Spread, the Note A-4 Relative Spread, the Note A-5 Relative Spread, the Note
A-6 Relative Spread, the Note A-7 Relative Spread, the Note A-8 Relative Spread, the Note A-9 Relative Spread and the Note
A-10

 

    46 

    	 

    

 

Relative Spread, as applicable, 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 a Mortgage Loan or Mortgaged Property exceed the
amounts required to be applied in accordance with the foregoing clauses (a)-(d) and, as a result of a Workout the Note A-1
Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note
A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance, the Note A-8 Principal Balance, the
Note A-9 Principal Balance and the Note A-10 Principal Balance have been reduced, such excess amount shall be paid to the
Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the
Note A-7 Holder, the Note A-8 Holder, the Note A-9 Holder and the Note A-10 Holder, pro rata, in an amount up to the
reduction, if any, of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the
Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal Balance,
the Note A-8 Principal Balance, the Note A-9 Principal Balance and the Note A-10 Principal Balance as a result of such
Workout, plus interest on such amount at the related Net Note A-1 Rate, the Net Note A-2 Rate, the Net Note A-3 Rate, the Net
Note A-4 Rate, the Net Note A-5 Rate, the Net Note A-6 Rate, the Net Note A-7 Rate, the Net Note A-8 Rate, the Net Note A-9
Rate and the Net Note A-10 Rate, as applicable;

 

(f) sixth,
to the extent the Junior Noteholders have made any payments or advances to cure defaults pursuant to Section 11, to
reimburse the Junior Noteholders for all such cure payments on a pro rata  basis in accordance with such payments
or advances made;

 

(g) seventh,
ratably, to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note
B-6 Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder in an amount equal to the
accrued and unpaid interest on the Note B-1 Principal Balance at the Net Note B-1 Rate; on the Note B-2 Principal Balance at
the Net Note B-2 Rate; on the Note B-3 Principal Balance at the Net Note B-3 Rate; on the Note B-4 Principal Balance at the
Net Note B-4 Rate; on the Note B-5 Principal Balance at the Net Note B-5 Rate; on the Note B-6 Principal Balance at the Net
Note B-6 Rate; on the Note B-7 Principal Balance at the Net Note B-7 Rate; on the Note B-8 Principal Balance at the Net Note
B-8 Rate; on the Note B-9 Principal Balance at the Net Note B-9 Rate; and on the Note B-10 Principal Balance at the Net Note
B-10 Rate.

 

(h) eighth,
to the Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note B-6
Holder, the Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder, on a Pro Rata and Pari Passu
Basis, in an amount equal to the related Principal Balance, until the such Principal Balance has been reduced to zero;

 

(i) ninth, to the
Note B-1 Holder, the Note B-2 Holder, the Note B-3 Holder, the Note B-4 Holder, the Note B-5 Holder, the Note B-6 Holder, the
Note B-7 Holder, the Note B-8 Holder, the Note B-9 Holder and the Note B-10 Holder, on a Pro Rata and Pari Passu Basis in an
amount equal to the product of (i) the Percentage Interest of such Note multiplied by (ii) the Note B-1 Relative Spread, the
Note B-2 Relative Spread, the Note B-3 Relative Spread, the Note B-4

 

    47 

    	 

    

 

Relative Spread, the Note B-5 Relative Spread, the Note
B-6 Relative Spread, the Note B-7 Relative Spread, the Note B-8 Relative Spread, the Note B-9 Relative Spread or the Note B-10
Relative Spread, as applicable, 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
Notes has been reduced, such excess amount shall be paid to the Junior Noteholders in an amount up to the reduction, if any,
of the related Principal Balance as a result of such Workout, plus interest on such amount at the Net Note B-1 Rate, the Net
Note B-2 Rate, the Net Note B-3 Rate, the Net Note B-4 Rate, the Net Note B-5 Rate, the Net Note B-6 Rate, the Net Note B-7
Rate, the Net Note B-8 Rate, the Net Note B-9 Rate or the Net Note B-10 Rate, as applicable;

 

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

 

(l) twelfth, to the
Senior Noteholders on a pro rata basis in any amount equal to any Penalty Charges received with respect to the related
Note;

 

(m) thirteenth, to
the Junior Noteholders in an amount equal to any Penalty Charges received with respect to the related Note; and

 

(n) fourteenth,
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)-(m), any remaining amount shall be paid pro rata to the Senior Noteholders and the
Junior Noteholders in accordance with their respective Percentage Interests.

 

For clarification purposes,
Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on the Senior Notes pursuant to Section 3
or Section 4 hereunder, shall be allocated to each Senior Noteholder on a pro rata basis and applied first, to reduce,
on a pro rata basis, the amounts payable on the Senior Notes by the amount necessary to pay the Master Servicer, the Trustee
or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement of any Servicing Advances in accordance
with the terms of the Lead Securitization Servicing Agreement, second, to reduce, on a pro rata basis, the respective amounts
payable on Senior Notes by the amount necessary to pay the Master Servicer, Trustee, Non-Lead Master Servicer or Non-Lead Trustee
for any interest accrued on any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization
Servicing Agreement or any Non-Lead Servicing Agreement, as applicable), third, to reduce, on a pro rata basis, the amounts
payable on the Senior Notes by the amount necessary to pay

 

    48 

    	 

    

 

additional trust fund expenses (other than Special Servicing Fees, unpaid
Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing
Agreement) and finally, (i) in the case of the remaining amount of Penalty Charges allocable pursuant to Section 3 or Section 4
hereunder to the Lead Securitization Note, be paid to the Master Servicer and/or the Special Servicer as additional servicing compensation
as provided in the Lead Securitization Servicing Agreement and (ii) in the case of the remaining amount of Penalty Charges allocable
pursuant to Section 3 or Section 4 hereunder to any Non-Lead Securitization Note, be paid, (x) prior to the securitization of such
Note, to the related Non-Lead Securitization Noteholder and (y) following the securitization of such Note, to the Master Servicer
and/or the Special Servicer as additional servicing compensation as provided in the
Lead Securitization Servicing Agreement.

 

Penalty Charges (as
defined in the Lead Securitization Servicing Agreement) paid on the Junior Notes pursuant to Section 3 or Section 4
hereunder shall be allocated to each Junior Noteholder on a pro rata basis and applied first, to reduce, on a pro rata
basis, the amounts payable on Note B-1, Note B-2, Note B-3, Note B-4, Note B-5, Note B-6, Note B-7, Note B-8, Note B-9 and
Note B-10 by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any
Servicing Advances and reimbursement of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing
Agreement, second, to reduce, on a pro rata basis, the respective amounts payable on Note B-1, Note B-2, Note B-3, Note
B-4, Note B-5, Note B-6, Note B-7, Note B-8, Note B-9 and Note B-10 by the amount necessary to pay the Master Servicer, Trustee,
Non-Lead Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by
such party (if and as specified in the Lead Securitization Servicing Agreement or any Non-Lead Servicing Agreement, as applicable),
third, to reduce, on a pro rata basis, the amounts payable on Note B-1, Note B-2, Note B-3, Note B-4, Note B-5, Note B-6,
Note B-7, Note B-8, Note B-9 and Note B-10 by the amount necessary to pay additional trust fund expenses (other than Special Servicing
Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization
Servicing Agreement) and finally, to the related Junior Noteholder.

 

Section 5.          Administration of the Mortgage Loan.

 

(a)           Subject to this Agreement (including, without limitation, Section 5(g) below) and the Servicing Agreement, the Lead
Securitization Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) shall have the sole and exclusive
authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including,
without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action
or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default,
accelerate the Mortgage Loan or institute any 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. Subject to this Agreement and the Servicing Agreement (including, without
limitation, Section 5(g) below), each of the Non-Lead

 

    49 

    	 

    

 

Securitization Noteholders and the Junior Noteholders agrees that
it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or the
Servicer acting on behalf of the Lead Securitization Noteholder) the rights, if any, that the Non-Lead Securitization Noteholders
and the Junior Noteholders have to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under
the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including,
without limitation, filing or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Mortgage Loan
Borrower. The Lead Securitization Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) shall not
have any fiduciary duty to the Non-Lead Securitization Noteholders or the Junior Noteholders 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).

 

Each Noteholder
hereby acknowledges the right and obligation of the Lead Securitization Noteholder (or the Special Servicer acting on behalf of
the Lead Securitization Noteholder), upon the Mortgage Loan becoming a Defaulted Mortgage Loan (as defined in the Securitization
Servicing Agreement) and the determination by the Special Servicer to sell the Lead Securitization Note in accordance with the
Servicing Agreement, subject to the rights of the Junior Noteholders pursuant to Section 12 hereof, to sell the Lead Securitization
Note and all of the other Senior Notes together as notes evidencing one mortgage loan in accordance with the terms of this Agreement
and the Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell all of the Non-Lead
Securitization Notes together with the Lead Securitization Note as notes evidencing one mortgage loan in accordance with the terms
of the Servicing Agreement.

 

In connection
with any such sale, the Special Servicer shall be required to sell Note A-2, Note A-3, Note A-4, Note A-5, Note A-7, Note A-8,
Note A-9 and Note A-10 together with Note A-1 and Note A-6 in the manner set forth in the Servicing Agreement and shall require
that all offers be submitted to the Trustee in writing. Whether any cash offer constitutes a fair price for the Senior Notes shall
be determined by the Trustee; provided, that no offer from an Interested Person (as defined in the Securitization Servicing
Agreement) 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 Senior 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 Senior 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 Senior 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 (as defined in
the Securitization Servicing Agreement) appraiser or other Independent expert in real estate matters retained by the Trustee at
the expense of the Holders in connection with making such determination. The Lead Securitization Noteholder (or the

 

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Special Servicer
acting on behalf of the Lead Securitization Noteholder) shall not be permitted to sell the Mortgage Loan if it becomes a Defaulted
Loan without the written consent of the Non-Controlling Noteholders (provided that such consent is not required if any Non-Controlling
Noteholder is the Mortgage Loan Borrower or an affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered
to the Non-Controlling Noteholders: (a) at least fifteen (15) Business Days’ prior written notice of any decision to attempt
to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together with
any material amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale, (c) at
least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents
in the Servicing File reasonably requested by any Non-Controlling Noteholder that are material to the sale price of the Mortgage
Loan and (d) until the sale is completed and a reasonable period of time (but no less time than is afforded to other offerors and
the Controlling Class Representative (as such term is defined in the Servicing Agreement)) prior to the proposed sale date, all
information and other documents being provided to other offerors and all leases or other documents that are approved by any Servicer
in connection with the proposed sale; provided, however, that any such Non-Controlling Noteholder may waive any of the delivery
or timing requirements set forth in this sentence as to itself. Subject to the foregoing, each of the Non-Controlling Noteholders
or its Non-Controlling Class Representatives shall be permitted to submit an offer at any sale of the Mortgage Loan unless such
Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

Each Noteholder
hereby irrevocably 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 Noteholder set forth herein and in the Servicing
Agreement).

 

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

 

(b) The
Controlling Noteholder (or its Controlling Noteholder Representative) shall have, with respect to the Mortgage Loan, all of
the same rights and powers the Controlling Class Representative has under the Servicing Agreement with respect to the
other mortgage loans included in the Lead Securitization, including without limitation, the right to consent and/or consult
regarding Major Decisions and other servicing matters, the right to advise (1) the Special Servicer with respect to all
Specially Serviced Loans and (2) the Special Servicer with

 

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respect to non-Specially Serviced Loans as to all matters for which the Master Servicer
must obtain the consent or deemed consent of the Special Servicer, and the right to direct the Special Servicer to take, or to
refrain from taking, such other actions with respect to the Mortgage Loan as the Controlling Class Representative may deem advisable
or as to which provision is otherwise made therein, in each case subject to the terms and conditions of the Servicing Agreement.

 

(c) The
administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Junior Noteholder
agrees to be bound by the terms of the Servicing Agreement. The Servicer shall service the Mortgage Loan in accordance with
the terms of this Agreement, including without limitation the rights of the Junior Noteholders set forth in Section
5(g) below. Servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a
Specially Serviced Mortgage Loan, by the Special Servicer, in each case pursuant to the Servicing Agreement and this
Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the Servicing Agreement, the Lead
Securitization Noteholder shall cause the Master Servicer and the Special Servicer to service and administer the Mortgage
Loan in accordance with the Servicing Standard, taking into account the interests of the Senior Noteholders and the Junior
Noteholders (it being understood that the interest of the Junior Noteholders is a junior Note interest, subject to the terms
and conditions of this Agreement), and any Noteholder (other than the Lead Securitization Noteholder) or any Junior
Noteholder who is not the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party shall be deemed a third party
beneficiary of such provisions of the Servicing Agreement. The foregoing provisions of this Section 5(c) shall
not limit or modify the rights of the Controlling Noteholder and/or the Controlling Noteholder Representative to
exercise their respective rights specifically set forth under this Agreement.

 

(d) 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 6), if the Servicer (on behalf of the Noteholders) 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 Mortgage Loan 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 Mortgage Loan 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 Junior Notes shall bear the full economic effect of all waivers, reductions or
deferrals of amounts due on the Mortgage Loan attributable to such Workout (up to the amount otherwise due on the Junior
Notes). Subject to the Servicing Agreement and this Agreement (including without limitation Section 6), in the
case of any modification or amendment described above, the Servicer (on behalf of the Noteholders) shall 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 Notes 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
reduce the Note B-1 Percentage Interest, the Note B-2 Percentage Interest, the Note B-3 Percentage Interest, the Note B-4
Percentage Interest, the Note

 

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B-5 Percentage Interest, the Note B-6 Percentage Interest,
the Note B-7 Percentage Interest, the Note B-8 Percentage Interest, the Note B-9 Percentage Interest and the Note B-10 Percentage
Interest in a manner that reflects a loss in principal as a result of such amendment or modification and (ii) the ability
to change the Note A-1 Rate, the Note A-2 Rate, the Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, the Note A-6 Rate, the
Note A-7 Rate, the Note A-8 Rate, the Note A-9 Rate, the Note A-10 Rate, the Note B-1 Rate, the Note B-2 Rate, the Note B-3 Rate,
the Note B-4 Rate, the Note B-5 Rate, the Note B-6 Rate, the Note B-7 Rate, the Note B-8 Rate, the Note B-9 Rate and the Note B-10
Rate as applicable, in order to reflect a reduction in the Mortgage Loan Rate of the Mortgage Loan but shall not be permitted to
change the order of the clauses set forth in Section 3 and Section 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 shall be deemed not to be due on the original maturity date of the Mortgage Loan but shall
be deemed due on the extended maturity date of the Mortgage Loan.

 

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

 

(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 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) the Lead Securitization Noteholder may not 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 Lead Securitization Noteholder 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 any of the Senior Notes (or
any portion thereof). The Noteholders agree that the provisions of this Section 5(f) 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(f), 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 solely by the Senior Notes on a Pro Rata and Pari Passu Basis.

 

A Noteholder shall not
be required to reimburse any other Noteholder or any other Person for the payment of the following items related to any REMIC that
does not include

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such Noteholder’s Note: (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.

 

(g)           If any consent, modification, amendment or waiver under or other action in respect of the Mortgage Loan (whether or not
a Servicing Transfer Event has occurred and is continuing) that would constitute a Major Decision has been requested or proposed,
at least ten (10) Business Days prior to taking action with respect to such Major Decision (or making a determination not to take
action with respect to such Major Decision), the Servicer must receive the written consent of the Controlling Noteholder (or its
Controlling Noteholder Representative) before implementing a decision with respect to such Major Decision.

 

If the Servicer has not
received a response from the Controlling Noteholder (or its Controlling Noteholder Representative) with respect to such Major Decision
within five (5) Business Days after delivery of the notice of a Major Decision, the Servicer 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 Controlling Noteholder Representative) fails to respond to the Servicer with respect to any
such proposed action within five (5) Business Days after receipt of such second notice, the Controlling Noteholder (or its Controlling
Noteholder Representative), as applicable, shall have no further consent rights with respect to such action.

 

Notwithstanding the foregoing,
if the Special Servicer, in accordance with the Servicing Standard, determines that immediate action is necessary to protect the
Mortgaged Property or the interests of the Noteholders (as a collective whole) with respect to any Major Decision, the Special
Servicer may take such action notwithstanding the time periods set forth above, if the Servicer has first made a reasonable effort
to contact the Controlling Noteholder (or its Controlling Noteholder Representative).

 

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

 

(h)          
 Notwithstanding the foregoing, during the continuation of a Control Appraisal Period, the Lead Securitization Noteholder
(or the Servicer acting on its behalf) shall be required:

 

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(i)          to
provide copies of any notice, information and report that it is required to provide to the Controlling Class Representative pursuant
to the Servicing Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an
Asset Status Report relating to the Mortgage Loan, to each Non-Controlling Noteholder (or its controlling class representative),
within the same time frame it is required to provide to the Controlling Class Representative (for this purpose, without regard
to whether such items are actually required to be provided to the Controlling Class Representative under the Servicing Agreement
due to the occurrence of a Control Termination Event (as defined in the Servicing Agreement) or a Consultation Termination Event
(as defined in the Servicing Agreement)); and

 

(ii)         to
consult with each Non-Controlling Noteholder (or its controlling class representative) on a strictly non-binding basis, to the
extent having received such notices, information and reports, such Non-Controlling Noteholder (or its controlling class representative)
requests consultation with respect to any such Major Decisions or the implementation of any recommended actions outlined in an
Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by such Non-Controlling Noteholder
(or its controlling class representative); provided that after the expiration of a period of ten (10) Business Days from the delivery
to the Non-Controlling Noteholders (or their respective controlling class representatives) by the Lead Securitization Noteholder
of written notice of a proposed action, together with copies of the notice, information and report required to be provided to the
Controlling Class Representative, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall no longer be
obligated to consult with the Non-Controlling Noteholders (or their respective controlling class representatives), whether or not
the Non-Controlling Noteholders (or their respective controlling class representatives) have responded within such ten (10) Business
Day period (unless, the Lead Securitization Noteholder (or the Servicer acting on its behalf) proposes a new course of action that
is materially different from the action previously proposed, in which case such ten (10) Business Day period shall be deemed to
begin anew from the date of such proposal and delivery of all information relating thereto).

 

Notwithstanding the consultation
rights of the Non-Controlling Noteholders (or their respective controlling class representatives) set forth in the immediately
preceding sentence, the Lead Securitization Noteholder (or Servicer acting on its behalf) may make any Major Decision or take any
action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Lead
Securitization Noteholder (or Servicer acting on its behalf) determines that immediate action with respect thereto is necessary
to protect the interests of the Noteholders. In no event shall the Lead Securitization Noteholder (or Servicer acting on its behalf)
be obligated at any time to follow or take any alternative actions recommended by a Non-Controlling Noteholder (or its controlling
class representative).

 

In addition to the consultation
rights of the Non-Controlling Noteholders (or their respective controlling class representatives) during the continuation of a
Control Appraisal Period, as provided in the immediately preceding paragraph, the Non-Controlling Noteholders shall have the right
to attend annual meetings (either telephonically or in person, in the discretion of the Servicer) with the Lead Securitization
Noteholder (or the Servicer acting on its behalf) at

 

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the offices of the Servicer, as applicable, upon reasonable notice and at
times reasonably acceptable to the Servicer, as applicable, in which servicing issues related to the Mortgage Loan are discussed.

 

Notwithstanding the foregoing,
any Non-Controlling Noteholder that is the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower shall not have
or be entitled to exercise any information or consultation rights granted to a Non-Controlling Noteholder hereunder.

 

(i)  The Junior Noteholders in their capacity as 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 thirty
(30) days of the receipt of a third party Appraisal that indicates such Control Appraisal Period has occurred): (i) such Controlling
Noteholder shall have delivered as a supplement to the appraised value of the Mortgaged Property, in the amount specified in clause
(ii) below, to the Servicer, together with documentation acceptable to the Servicer in accordance with the Servicing Standard to
create and perfect a first priority security interest in favor of the Servicer on behalf of the Lead Securitization Noteholder
in such collateral (a) cash collateral for the benefit of, and acceptable to, the Servicer or (b) an unconditional and irrevocable
standby letter of credit with the Servicer as the beneficiary, issued by a bank or other financial institutions the long term unsecured
debt obligations of which are at all times rated at least “AA” (or the equivalent) by each Rating Agency that rates
such institution or the short term obligations of which are rated at least “A-1+” by (or the equivalent) by each Rating
Agency that rates such institution (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 a Junior Noteholder in its capacity as Controlling Noteholder (a “Threshold Event Cure”), no
Control Appraisal Period caused by application of an Appraisal Reduction Amount shall be deemed to have occurred. If a letter of
credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to renew such letter
of credit not later than thirty (30) days prior to expiration thereof or to replace such letter of credit with a substitute letter
of credit or other Threshold Event Collateral with an expiration date that is greater than forty-five (45) days from the date of
substitution; provided, however, that, if a letter of credit is not renewed prior to thirty (30) days prior to the
expiration date of such letter of credit, the letter of credit shall provide that the Servicer may (and at the direction of the
applicable Controlling Noteholder, shall) draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral.
If a letter of credit is furnished as Threshold Event Collateral, the Junior Noteholder as 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 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,
as defined in the Servicing Agreement. If the appraised value of the Mortgaged Property, upon any redetermination thereof, is sufficient
to avoid the occurrence of a Control Appraisal Period

 

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without taking into consideration any, or some portion of, Threshold Event
Collateral previously delivered by a Junior Noteholder as 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 Section 4, as applicable, with respect to the Mortgage Loan after application of the
net proceeds of liquidation, not in excess of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note A-7 Principal
Balance, the Note A-8 Principal Balance, the Note A-9 Principal Balance, the Note B-1 Principal Balance, the Note B-2 Principal
Balance, the Note B-3 Principal Balance, the Note B-4 Principal Balance, the Note B-5 Principal Balance, the Note B-6 Principal
Balance, the Note B-7 Principal Balance, the Note B-8 Principal Balance, the Note B-9 Principal Balance and the Note B-10 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.

 

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

 

(k)           Following Securitization of a Non-Lead Securitization Note, all notices, reports, information or other deliverables required
to be delivered to the related Non-Lead Securitization Noteholder or the related Non-Controlling 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 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 Servicing Agreement) and,
when so delivered to such Non-Lead Master Servicer and 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.

 

Section 6.          Appointment of Controlling Noteholder Representative.

 

(a) The Controlling Noteholder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Controlling Noteholder Representative”).
The Controlling Noteholder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Controlling Noteholder Representative. When exercising its various rights under Section 5 and elsewhere in this Agreement,
the Controlling Noteholder may, at its option, in each case, act through the Controlling Noteholder Representative. The Controlling
Noteholder Representative

 

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may be any Person (other than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage
Loan Borrower), including, without limitation, the Controlling Noteholder, any officer or employee of the Controlling Noteholder,
any Affiliate of the Controlling Noteholder or any other unrelated third party. No such Controlling Noteholder Representative shall
owe any fiduciary duty or other duty to any other Person (other than the Controlling Noteholder). All actions that are permitted
to be taken by the Controlling Noteholder under this Agreement may be taken by the Controlling Noteholder Representative acting
on behalf of the Controlling Noteholder. No Servicer, Operating Advisor, Asset Representations Reviewer, Trustee or Certificate
Administrator acting on behalf of the Lead Securitization Noteholder shall be required to recognize any Person as an Controlling
Noteholder Representative until the Controlling Noteholder has notified each Servicer, Operating Advisor, Asset Representations
Reviewer, Trustee and Certificate Administrator of such appointment and, if the Controlling Noteholder Representative is not the
same Person as the Controlling Noteholder, the Controlling Noteholder Representative provides each Servicer, Operating Advisor,
Asset Representations Reviewer, Trustee and Certificate Administrator with written confirmation of its acceptance of such appointment,
an address and facsimile number for the delivery of notices and other correspondence and a list of officers or employees of such
person with whom the parties to this Agreement may deal (including their names, titles, work addresses and facsimile numbers).
The Controlling Noteholder shall promptly deliver such information to each Servicer, Operating Advisor, Asset Representations Reviewer,
Trustee and Certificate Administrator. If the Lead Securitization Noteholder is the Controlling Noteholder, no Controlling Noteholder
Representative shall be appointed and the rights of the Lead Securitization Noteholder exercisable by the Controlling Class Representative
shall be as set forth in the Servicing Agreement. Similarly, if the Lead Securitization Noteholder is the Controlling Noteholder,
the rights of each Non-Lead Securitization Noteholder shall be exercisable by a controlling class representative or directing holder
as set forth in the related Non-Lead Servicing Agreement.

 

(b)  
Neither the Controlling Noteholder Representative nor the Controlling Noteholder shall have any liability to the other Noteholders
or any other Person for any action taken, or for refraining from the taking of any action or 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 Noteholders agree that the Controlling
Noteholder Representative and the Controlling Noteholder (whether acting in place of the Controlling Noteholder Representative
when no Controlling Noteholder Representative shall have been appointed hereunder or otherwise exercising any right, power or privilege
granted to the Controlling Noteholder hereunder) may take or refrain from taking actions, or give or refrain from giving consents,
that favor the interests of one Noteholder over the other Noteholder, and that the Controlling Noteholder Representative 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 Controlling Noteholder Representative or the Controlling Noteholder, as the case may be,
agree to take no action against the Controlling Noteholder Representative, the Controlling Noteholder or any of their respective
officers, directors, employees, principals or agents as a result of such special relationships or interests, and that neither the
Controlling Noteholder Representative nor the Controlling Noteholder will be deemed to have been grossly negligent or reckless,
or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded any exercise of its rights by
reason of its having acted or refrained from acting, or

 

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having given any consent or having failed to give any consent, solely in
the interests of any Noteholder.

 

(c)           If the Lead Securitization Noteholder is the Controlling Noteholder, the Junior Noteholders acknowledge and agree (i) all
of the aforementioned rights and obligations of the Controlling Noteholder and the Controlling Noteholder Representative set forth
in Section 5(g) and 5(h) 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 and (ii) the
Controlling Class Representative may exercise all rights with respect to the Mortgage Loan and any decisions or consents or other
powers with respect thereto as are set forth in the Servicing Agreement.

 

(d)           With respect to any Non-Controlling Note, 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 any particular
“Non-Controlling Noteholder” herein or under the Servicing Agreement and, (x) to the extent that the related Non-Lead
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 40, for purposes of this Agreement, the Non-Lead 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); provided that, in the absence of such designation and notice, the
Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat
the last party as to which it has received written notice as having been designated as the Non-Controlling Noteholder with respect
to such Non-Controlling Note, as the Non-Controlling Noteholder for such Non-Controlling Note for all purposes of this Agreement.
As of the date hereof and until further notice from a Non-Lead Securitization Noteholder (or the Non-Lead Master Servicer or another
party acting on its behalf), the Note A-2 Holder is the Non-Controlling Noteholder with respect to Note A-2, the Note A-3 Holder
is the Non-Controlling Noteholder with respect to Note A-3, the Note A-4 Holder is the Non-Controlling Noteholder with respect
to Note A-4, the Note A-5 Holder is the Non-Controlling Noteholder with respect to Note A-5, the Initial Note A-6 Holder is the
Non-Controlling Noteholder with respect to Note A-6, the Initial Note A-7 Holder is the Non-Controlling Noteholder with respect
to Note A-7, the Initial Note A-8 Holder is the Non-Controlling Noteholder with respect to Note A-8, the Initial Note A-9 Holder
is the Non-Controlling Noteholder with respect to Note A-9 and the Initial Note A-10 Holder is the Non-Controlling Noteholder with
respect to Note A-10.

 

Section 7.          Special Servicer. The Controlling Noteholder (or its Controlling Noteholder Representative), at its expense (including,
without limitation, the reasonable costs and expenses of counsel to any third parties and costs and expenses of the terminated
Special Servicer), shall have the right to appoint the Special Servicer with respect to the Mortgage Loan; provided that
either (x) any Special Servicer appointed by the Controlling Noteholder (or its Controlling Noteholder Representative) shall have
the Required Special Servicer Rating or (y) the Controlling Noteholder (or its Controlling Noteholder Representative) shall have
received Rating Agency Confirmation with respect to the appointment of such Special Servicer from each

 

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Rating Agency then rating
a Securitization. The Controlling Noteholder (or its Controlling Noteholder Representative) 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 notice to the Special Servicer (provided, however, that the Controlling Noteholder, Controlling
Noteholder Representative and/or 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) and satisfaction of the other conditions to such replacement
as set forth in the Servicing Agreement.

 

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

 

For the avoidance of
doubt, in no event will the rights of the Non-Controlling Noteholders set forth in the immediately preceding paragraph in any way
limit or diminish the rights of the Controlling Noteholder otherwise set forth in this Section 7.

 

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 Section 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 Companion Distribution Account for the Notes established pursuant
to the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer acting on its behalf) shall deposit such amounts
to the applicable account within two (2) Business Days following receipt of properly identified and available funds by the Lead

 

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Securitization Noteholder (or the Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower.

 

(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, the 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
(or the Servicer on its behalf) shall have been required to pay to any Mortgage Loan Borrower, the Lead Securitization Noteholder,
Master Servicer, Special Servicer or such other Person with respect thereto.

 

(c)           If, for any reason, the Lead Securitization Noteholder (or the Servicer on its behalf) makes any payment to the Junior Noteholders
or a Non-Lead Securitization Noteholder before the Lead Securitization Noteholder (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 the Junior Noteholders or the applicable Non-Lead Securitization Noteholder,
the Junior Noteholders or applicable Non-Lead Securitization Noteholder, as the case may be, shall, at the Lead Securitization
Noteholder’s (or the Servicer’s on its behalf) request, promptly return that payment to the Lead Securitization Noteholder
(or the Servicer on its behalf).

 

(d)  Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or
the Servicer on its behalf) subject to this Agreement and the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer
on its behalf) shall have the right to offset any amounts due hereunder from any Noteholder with respect to the Mortgage Loan against
any future payments due to such 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 of the Noteholder against the other Noteholders. 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, but only to the extent
that the Servicing Agreement does not impose any other standard upon any Servicer, in which case the Servicing Agreement shall
control) shall have any liability to any other Noteholder except with respect to

 

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losses actually suffered due to the gross negligence,
willful misconduct or breach of this Agreement on the part of such Noteholder.

 

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

 

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

 

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

 

Section 10.          Bankruptcy. Subject to the provisions of Section 5(g) hereof, each of the Non-Lead Securitization Noteholders
and the Junior Noteholders 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

 

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winding-up or
liquidation of the affairs of the Mortgage Loan Borrower. Subject to the provisions of Section 5(g) hereof, each of the
Non-Lead Securitization Noteholders and the Junior 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. Each of the Non-Lead Securitization Noteholders and the Junior Noteholders hereby appoints the Lead Securitization
Noteholder as its agent, and grants to the Lead Securitization Noteholder an irrevocable power of attorney coupled with an interest,
and its proxy, for the purpose of exercising any and all rights and taking any and all actions available to each of the Non-Lead
Securitization Noteholders and the Junior Noteholders 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. Each of the Non-Lead
Securitization Noteholders and the Junior Noteholder in its capacity as such, hereby agrees that, upon the request of the Lead
Securitization Noteholder, such Non-Lead Securitization Noteholder or Junior Noteholders, as applicable, 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. All actions taken
by the Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

 

Section 11.         Cure Rights
of the Junior Noteholders.

 

(a)           Subject to Section 11(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 notice to the Junior Noteholders and the Controlling Noteholder Representative (in each case, unless a Control Appraisal
Period has occurred and is continuing) of such default (the “Monetary Default Notice”). If the Junior Noteholders
or the Controlling Noteholder Representative (in each case, unless a Control Appraisal Period has occurred and is continuing) has
not cured such Monetary Default within five (5) Business Days after receiving the Monetary Default Notice, the Lead Securitization
Noteholder shall deliver an additional copy of the Monetary Default Notice that contains a statement in boldface font that this
is a second notice and that the Junior Noteholders’ or the Controlling Noteholder Representative’s failure to cure
such Monetary Default within five (5) Business Days after receiving such second notice will result in the termination of the right
to cure such Monetary Default. The Junior Noteholders (unless a Control Appraisal Period has occurred and is continuing) shall
have the right, but not the obligation, to cure such Monetary Default after receiving the first Monetary Default Notice and until
the period ending five (5) Business Days after receiving the second Monetary Default Notice (the “Cure Period”)
and at no other times. At the time a payment is made to cure a Monetary Default, the Junior Noteholders (unless a Control Appraisal
Period has occurred and is continuing) shall pay or reimburse the Lead Securitization Noteholder for all unreimbursed Advances
(whether or not recoverable with respect to the Lead Securitization Note and each

 

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Non-Lead Securitization Note, including principal
and interest advances made with respect to such Non-Lead Securitization Note under the related Non-Lead Servicing Agreement), Advance
Interest Amounts, any unpaid fees to any Servicer specifically provided for in the Servicing Agreement and any Additional Servicing
Expenses. The Junior Noteholders shall not be required, in order to effect a cure hereunder, to pay any default interest or late
charges under the Mortgage Loan Documents. So long as a Monetary Default exists for which a cure payment permitted hereunder is
made, such Monetary Default shall not be treated as an Event of Default by the Lead Securitization Noteholder (including for purposes
of (i) the definition of “Sequential Pay Event,” (ii) accelerating the Mortgage Loan, modifying, amending or waiving
any provisions of the Mortgage Loan Documents or commencing proceedings for foreclosure or the taking of title by deed-in-lieu
of foreclosure or other similar legal proceedings with respect to the Mortgaged Property; or (iii) treating the Mortgage Loan as
a Specially Serviced Mortgage Loan); provided that such limitation shall not prevent the Lead Securitization Noteholder
from collecting Default Interest or late charges from the Mortgage Loan Borrower. Any amounts advanced by a Noteholder on behalf
of the Mortgage Loan Borrower to effect any cure shall be reimbursable to such Noteholder under Section 3 or Section 4,
as applicable.

 

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

 

(c)           No action taken by the Junior Noteholders in accordance with this Agreement shall excuse performance by the Mortgage Loan
Borrower of its obligations under the Mortgage Loan Documents and the Lead Securitization Noteholder’s and the Non-Lead Securitization
Noteholders’ rights under the Mortgage Loan Documents shall not be waived or prejudiced by virtue of such Junior Noteholder’s
actions under this Agreement. Subject to the terms of this Agreement, the Junior Noteholders shall be subrogated to the Lead Securitization
Noteholder’s and the Non-Lead Securitization Noteholders’ rights to any payment owing to the Lead Securitization Noteholder
and the Non-Lead Securitization Noteholders for which a Junior Noteholder makes a cure payment as permitted under this Section
11 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 promptly provide notice to the Junior Noteholders and the Controlling
Noteholder Representative (in each case, unless a Control Appraisal Period has occurred and is continuing) of such failure (the
“Non-Monetary Default Notice”) and the Junior Noteholders (unless a Control Appraisal Period has occurred and
is continuing) shall have the right, but not the obligation, to cure such Non-Monetary Default within the same period of time as
the Mortgage Loan Borrower under the Mortgage Loan Documents, without regard for the date of receipt by the Junior Noteholders
and the Controlling Noteholder Representative of the Non-Monetary Default Notice, or in any event, up to thirty (30) days, to cure
such Non-Monetary Default; provided, however, if such Non-Monetary Default is susceptible of cure but

 

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cannot reasonably
be cured within such period and if curative action was promptly commenced and is being diligently pursued by the Junior Noteholders,
the Junior Noteholders (unless a Control Appraisal Period has occurred and is continuing) shall be given an additional period of
time as is reasonably necessary to enable the Junior Noteholders in the exercise of due diligence to cure such Non-Monetary Default
for so long as (i) the Junior Noteholders diligently and expeditiously proceed to cure such Non-Monetary Default, (ii) the Junior
Noteholders make all cure payments that it is permitted to make in accordance with the terms and provisions of Section 11(a)
hereof, (iii) such additional period of time does not exceed ninety (90) days, (iv) such Non-Monetary Default is not caused by
an Insolvency Proceeding or during such period of time that the Junior Noteholders have to cure a Non-Monetary Default in accordance
with this Section 11(d) (the “Non-Monetary Default Cure Period”), an Insolvency Proceeding does not occur
and (v) during such Non-Monetary Default Cure Period, there is no material adverse effect on the Mortgage Loan Borrower or the
Mortgaged Property or the value of the Mortgage Loan as a result of such Non-Monetary Default or the attempted cure. The Non-Monetary
Default Notice shall contain a statement in boldface font that the Junior Noteholders’ and the Controlling Noteholder Representative’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 Noteholders and the Controlling Noteholder
Representative shall not contact the Mortgage Loan Borrower in order to effect any cures under Sections 11(a) or this 11(d)
unless it is in conjunction with the Special Servicer or the Junior Noteholders have obtained the prior written consent of the
Lead Securitization Noteholder.

 

Section 12.          Purchase of the Senior Notes By the Junior Noteholders. The Junior Noteholders shall have the right, by written notice
to the Senior Noteholders (a “Noteholder Purchase Notice”), delivered at any time an Event of Default under
the Mortgage Loan has occurred and is continuing, to purchase, in immediately available funds, the Senior Notes in whole but not
in part at the applicable Defaulted Mortgage Loan Purchase Price. For avoidance of doubt, if the Junior Noteholders elect to exercise
their right to purchase a Note pursuant to this Section 12, it must purchase each of Senior Notes. Upon the delivery of
the Noteholder Purchase Notice to the Senior Noteholders, Senior Noteholders shall sell (and the Junior Noteholders shall purchase)
the Senior Notes (including, without limitation, any interests therein) at the applicable Defaulted Mortgage Loan Purchase Price,
on a date (the “Defaulted Note Purchase Date”) not less than ten (10) and not more than thirty (30) days after
the date of the Noteholder Purchase Notice, as shall be established by the Lead Securitization Noteholder. The Junior Noteholders
agrees that the sale of the Senior Notes shall comply with all requirements of the Servicing Agreement and that all costs and expenses
related thereto shall be paid by the applicable 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 shall, absent manifest error, be binding upon the Junior Noteholders. 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
shall execute at the sole cost and expense of the Junior Noteholders in favor of the applicable Junior Noteholders assignment documentation
which will assign the Senior Notes, as applicable, and the Mortgage Loan Documents without recourse, representations or warranties
(except the Senior

 

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Noteholders, as applicable, 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 Notes)). The right of the Junior Noteholders 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 Noteholders ten (10) days’
notice of its intent with respect to such action). Notwithstanding the foregoing sentence, if title to the Mortgaged Property is
transferred to the Servicer (or other nominee on behalf of the Noteholders) less than ten (10) days after the acceleration
of the Mortgage Loan, the Lead Securitization Noteholder shall notify the Junior Noteholders of such transfer and the Junior Noteholders
shall have a ten (10) 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 Noteholders 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. Any
such purchase of the Senior Notes by Junior Noteholders shall be free and clear of any liens.

 

Section 13.          Representations
of Junior Noteholders. Each Junior Noteholder represents, and it is specifically understood and agreed, that it is acquiring
the applicable 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 the applicable 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. Each 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. Each Junior Noteholder
represents and warrants that (a) this Agreement has been duly executed and delivered by the applicable 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 the Junior
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 applicable 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

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Loan Documents and, except as provided herein, need not consult with the applicable 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 14.          Representations
of the Initial Senior Noteholders. Each of the Senior Noteholders 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 the applicable 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
each of them in accordance with its terms. Each of the Senior Noteholders 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 business. Each of the Senior
Noteholders represents and warrants that (a) this Agreement has been duly executed and delivered by the applicable 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 the applicable Senior Noteholder have 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 applicable Senior Noteholder,
an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

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

 

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Section 16.          No Creation
of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto shall
be deemed to constitute the relationship created hereby among any of the Noteholders as a partnership, association, joint venture
or other entity. No Noteholder shall have no obligation whatsoever to offer to the other Noteholders the opportunity to purchase
a participation interest in any future loans originated by such Noteholder or their Affiliates and if any Noteholder chooses to
offer to the other Noteholders the opportunity to purchase a participation interest in any future loans originated by such Noteholder
or their Affiliates, such offer shall be at such purchase price and interest rate as such Noteholder chooses, in its sole and
absolute discretion. No Noteholder shall have any obligation whatsoever to purchase from the other Noteholders a Note interest
in any future loans originated by such Noteholders or their Affiliates.

 

Section 17.          Not a
Security. The Junior Notes shall not be deemed to be a security within the meaning of the Securities Act of 1933, as amended
or the Securities Exchange Act of 1934, as amended.

 

Section 18.          Other Business Activities of the Noteholders. Each Noteholder acknowledges that the other Noteholders or their Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or
any direct or indirect parent or Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership
interests in the Mortgage Loan Borrower or any Affiliate thereof or any entity that is a holder of a preferred equity interest
in the Mortgage Loan Borrower, any principal thereof or any Affiliate thereof (each, a “Mortgage Loan Borrower
Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties
and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions
contemplated hereby were not in effect.

 

Section 19.         
Sale of the Junior and Senior Notes.

 

(a)           Each Junior Noteholder agrees that it will not Transfer all or any portion of the Junior Notes without the prior written
consent of the other Noteholders, which consent shall not be unreasonably withheld, conditioned or delayed, provided that
(i) each Junior Noteholder shall have the right to Transfer its Junior Note, or any portion thereof, to a Qualified Institutional
Lender without obtaining such prior written consent, provided that promptly after the Transfer, (x) the other Noteholders
are provided with (I) a representation from a transferee or the applicable Junior Noteholder certifying that such transferee is
a Qualified Institutional Lender and (II) a copy of the assignment and assumption agreement referred to in Section 20 and
(y) such transfer would not cause the related Junior Note to be held by more than five persons nor cause there to be no one Person
owning a majority of such Junior Note and (ii) if any Junior Noteholder wishes to Transfer its Junior Note, or any portion thereof,
to an entity that is not a Qualified Institutional Lender after a Securitization, no consent of the other Noteholders shall be
required, but the applicable Junior Noteholder shall first obtain (and deliver to the other Noteholders) Rating Agency Confirmation
with respect to each Securitization. If a Junior Note is held by more than one Junior Noteholder at any time, the holders of a
majority of the Principal Balance of such Junior Note shall immediately appoint a representative to exercise all rights of the
Junior Noteholders hereunder. Notwithstanding the foregoing, without the prior consent of the Senior Noteholders, which may be
withheld in such Noteholders’ sole discretion, no Junior

 

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Noteholder shall Transfer all or any portion of the applicable Junior
Note to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party without obtaining Rating Agency Confirmation with
respect to each Securitization and any such Transfer shall be absolutely null and void and shall vest no rights in the purported
transferee. Each Junior Noteholder agrees it will pay the expenses of the other Noteholders (including all expenses of the Master
Servicer and the Special Servicer) in connection with any such Transfer. The Agent shall provide two (2) Business Days prior written
notice to each Rating Agency of any Transfer. Notwithstanding the foregoing, the provisions of this Section 19(a) shall
not be applicable to the transfer of all of the Junior Notes from the Junior Noteholders to Teacher Insurance and Annuity Association
of America on November 18, 2016.

 

(b)           Notwithstanding the foregoing, each Junior Noteholder shall have the right, without the need to obtain the consent of the
other Noteholders or any other Person, to Transfer 49% or less (in the aggregate) of its interest in the applicable Junior Note
to a Person that has no direct rights with respect to such Junior Note or to a Qualified Institutional Lender; provided
that any such Transfer shall be made in accordance with the terms of this Section 19. Notwithstanding anything herein
to the contrary, no Junior Noteholder shall Transfer all or any portion of the applicable Junior Note to the Mortgage Loan Borrower
or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the
purported transferee. All Transfers under Section 19(a) and (b) shall be made upon written notice to the other 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 applicable Junior Noteholder hereunder
with respect to the related Junior Note first arising from and after the date of such assignment (or, in the case, of a pledge,
collateral assignment or other encumbrance made in accordance with Section 19(e) by such Junior Noteholder of the related
Junior Note solely as security for a loan to such Junior Noteholder made by a third-party lender whereby such Junior Noteholder
remains fully liable under this Agreement, on or before the date on which such lender succeeds to the rights of such Junior Noteholder
by foreclosure or otherwise, such third-party lender executes an agreement that such lender shall be bound by the terms and provisions
of this Agreement and the obligations of such 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 a Junior Note in accordance with this Agreement, the transferring Person
shall be released from all liability arising under this Agreement with respect to that 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 that
the foregoing release shall not apply in the case of a sale, assignment, transfer or other disposition of a participation interest
in such Junior Note as described in clause (c) below). In connection with any such permitted Transfer of a portion of a Junior
Note and for all purposes of this Agreement, the other Noteholders need only recognize the majority holder of the applicable Junior
Note for purposes of notices, consents and other communications between Noteholders, and such majority holder of the applicable
Junior Note shall be the only Person authorized hereunder to exercise any rights of the Junior Noteholders under this Agreement;
provided, however, the majority holder of any Junior Note may from time to time designate any other Person as an
additional party entitled to receive notices, consents and other

 

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communications and/or to exercise rights on behalf of the applicable
Junior Noteholder hereunder by delivering written notice thereof to the other 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 Noteholders 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 Noteholders a certification from an authorized officer confirming its status as a Qualified Institutional
Lender), such Noteholder, by written notice to the other Noteholders, may delegate to such participant such Noteholder’s
right to exercise the rights of the Controlling Noteholder hereunder and under the Servicing Agreement; provided, further,
however, that upon the occurrence of a Control Appraisal Period with respect to the Junior Notes, the aforesaid delegation
of rights shall terminate and be of no further force and effect.

 

(d)           The Senior Noteholders shall each have the right to Transfer all or any portion of its respective Note without the prior
consent of any other Noteholder to (i) the depositor for a Securitization of all or any portion of such Note and the related Securitization
Trust, (ii) prior to the occurrence of a Securitization of all or any portion of such Note, a Qualified Institutional Lender (provided
that any Transferee in connection with the Securitization of such Note shall not be required to be a Qualified Institutional Lender)
and (iii) after the occurrence of a Securitization of all or any portion of such Note, to any party in accordance with the applicable
Pooling and Servicing Agreement, except that such Noteholder shall not Transfer all or any portion of such Note to the Mortgage
Loan Borrower or a Mortgage Loan Borrower Related Party without obtaining Rating Agency Confirmation with respect to each Securitization
and any such Transfer to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party shall be absolutely null and void
and shall vest no rights in the purported transferee; provided that, after a Securitization, if a Senior Noteholder intends
to transfer its Note to an entity that is not a Qualified Institutional Lender it must first obtain Rating Agency Confirmation
from each Rating Agency rating a Securitization.

 

(e)           Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity
(other than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder
and that is either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least
“A” (or the equivalent) or better by each Rating Agency (a “Note Pledgee”), on terms and conditions
set forth in this Section 19(e), it being further agreed that a financing provided by a Note Pledgee to a Noteholder
or any person which Controls such Noteholder that is secured by such Noteholder’s interest in the applicable Note and is
structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee
which is not a Qualified Institutional Lender may not take title to the pledged Note without (a) prior to a Securitization,

 

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the
consent of each other Noteholder and, (b) after a 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
the Note Pledgee written notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of
which default such Noteholder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure
a default by the pledging Noteholder in respect of its obligations to the other Noteholder hereunder, but such Note Pledgee shall
not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement
shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably
withheld, conditioned or delayed; (iv) that such other Noteholder shall give to such Note Pledgee copies of any notice of
default under this Agreement simultaneously with the giving of same to the pledging Noteholder and accept any cure thereof by such
Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect hereunder, as if such cure were made
by such pledging Noteholder; (v) that such other Noteholder shall deliver to Note Pledgee such estoppel certificate(s) as
Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory
to such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to the other Noteholders
and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the
pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder
and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such Redirection
Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Noteholder
or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement or any
Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases the other Noteholders and any Servicer
from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with any Redirection
Notice believed in good faith by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee
shall be permitted to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept an
assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event,
the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or
any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee
or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Noteholder’s rights,
remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing
the obligations of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the collateral
by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under
this Section 19(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee
shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has
terminated.

 

(f)            Notwithstanding any provisions herein to the contrary, if a conduit (“Conduit”) which is not a Qualified
Institutional Lender provides financing to a Noteholder then

 

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

 

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

 

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

 

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

 

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

 

Section 20.          Registration
of Transfer. In connection with any Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge),
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 19, from and after the date of such assignment. Notwithstanding
the preceding sentence, a Trustee shall not be required to execute an assignment and assumption agreement in connection with any
Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement. No transfer of a Note may be made unless
it is registered on the Note Register, and the Agent shall not recognize any attempted or purported Transfer of any Note in violation
of the provisions of Section 19 and this Section 20. Any such purported Transfer shall be absolutely null and
void and shall vest no rights in the purported transferee. Each Noteholder desiring to effect such Transfer shall, and does hereby
agree to, indemnify the Agent and any other Noteholder against any liability that may result if the Transfer is not made in accordance
with the provisions of this Agreement. Upon a Securitization of the Lead Securitization Note, the Certificate Administrator shall
automatically become and be the Agent.

 

Section 21.          Registration
of Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”) for
the registration and transfer of the Notes. The

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Agent shall serve as the initial Note registrar and the Agent hereby accepts such
appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of
which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in Section
20, shall be registered in the Note Register. The Person in whose name a Note is so registered shall be deemed and treated
as the sole owner and holder thereof for all purposes of this Agreement, except in the case of the Initial Senior Noteholders
and the Initial Junior Noteholders who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent shall provide
such party with the names and addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, the Senior
Noteholders and the Junior Noteholders hereby designate such person as its agent under this Section 21 solely for purposes
of maintaining the Note Register.

 

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

 

Section 23.          No Pledge.
This Agreement shall not be deemed to represent a pledge of any interest in any Mortgage Loan by any Noteholder to another Noteholder.
Except as otherwise provided in this Agreement and the Servicing Agreement, the Junior Noteholders 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 Noteholders shall be entitled to receive their
share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

Section 24.          Cooperation in Securitization.

 

(a) Each Noteholder
acknowledges that any Noteholder may elect, in its sole discretion, and at its sole cost and expense, to include its Note in
a Securitization. In connection with a Securitization and subject to the terms of the preceding sentence, (x) at the request
of the securitizing Noteholder, each non-securitizing Noteholder shall use reasonable efforts, at the securitizing
Noteholder’s expense, to satisfy, and to cooperate with the securitizing Noteholder in attempting to cause the Mortgage
Loan Borrower to satisfy, the market standards to which such securitizing Noteholder customarily adheres or which may be
reasonably required in the marketplace or by the Rating Agencies in connection with the Securitization, including, entering
into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate
with the securitizing 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 no non-securitizing Noteholder shall be required to modify or amend
this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith, if
such modification or amendment would (i) change the interest allocable to, or the amount of any payments due to or priority
of such payments, such Noteholder or (ii) increase such Noteholder’s obligations (other than to an immaterial extent)
or decrease such Noteholder’s rights, remedies or protections (other than to an 

 

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immaterial
extent). In connection with the Securitization, each non-securitizing Noteholder shall, at the sole cost and expense of the securitizing
Noteholder, to provide for inclusion in any disclosure document relating to the related Securitization such information concerning
such non-securitizing Noteholder and the other Notes as the securitizing Noteholder reasonably determines to be necessary or appropriate;
and (y) each non-securitizing Noteholder shall cooperate, at the sole cost and expense of the securitizing Noteholder, with the
reasonable requests of each Rating Agency and the securitizing 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. Each Noteholder acknowledges
that any information provided by it to a securitizing Noteholder may be incorporated into the offering documents for a Securitization.
Each securitizing Noteholder and each Rating Agency shall be entitled to rely on the information supplied by, or on behalf of,
the non-securitizing Noteholders.

 

(b) A
securitizing Noteholder may, at its election, deliver to the other Noteholders drafts of the preliminary and final
Securitization offering memoranda, prospectus supplement, free writing prospectus and any other disclosure documents and the
servicing agreement at such time as it deems necessary or appropriate in connection with the Securitization of the related
Note. Each of the non-securitizing Noteholders may, at its election, review and comment thereon insofar as it relates to such
Noteholder or its Note, and, if such non-securitizing Noteholder elects to review and comment, such non-securitizing
Noteholder shall review and comment thereon as soon as possible but in no event later than two (2) Business Days of its
receipt thereof (or five (5) Business Days after receipt, in the case of the first draft thereof delivered to such
non-securitizing Noteholder) and if such non-securitizing Noteholder fails to respond within such time, such non-securitizing
Noteholder shall be deemed to have elected to not comment thereon, provided that if such non-securitizing Noteholder
elects to review and comment, any such review and comments with respect to the final draft distributed in connection with the
preparation of the preliminary and final offering memoranda for printing shall be made no later than 9:00 am, New York City
time, on the Business Day following its receipt thereof and if such non-Securitizing Noteholder fails to respond by such
time, such non-Securitizing Noteholder shall be deemed to have elected to not comment thereon. In the event of any
disagreement between such non-Securitizing Noteholder with respect to the preliminary and final offering memoranda,
prospectus supplement, free writing prospectus or any other disclosure documents the Securitizing Noteholder’s
determination shall control. A non-Securitizing 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 or refrain from making, regarding
itself.

 

(c) Notwithstanding
anything herein to the contrary, each Senior Noteholder acknowledge and agree that (i) the Junior Noteholders shall not be
required to incur any out-of-pocket expenses in connection with a Securitization of the Senior Notes and (ii) no
Junior Noteholder shall be required to disclose any of the beneficial owners of the managed account on behalf of which it is
holding a Junior Note.

 

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

 

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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.

 

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, AND APPELLATE COURTS FROM ANY THEREOF;

 

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

 

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

 

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

 

Section 27.          Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by the parties hereto (other than as set forth in Section 5(b)). Additionally, from and after a Securitization, this Agreement
may not be modified in any manner that is materially adverse to the Senior Noteholders unless a Rating Agency Confirmation has
been delivered with respect to each Securitization, except that no Rating Agency Confirmation shall be required in connection with
a modification pursuant to Section 40 or to cure any ambiguity or to correct or supplement any provision herein that may
be defective or inconsistent with any other provisions herein or with the Servicing 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 assigns. Except as provided herein, none of the provisions of this

 

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Agreement
shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 19, each Noteholder may
assign or delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to
all rights and benefits of the Senior Noteholders or the Junior Noteholders, as applicable, 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.

 

Section 33.         
Withholding Taxes.

 

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

 

(b)           Each Non-Lead Securitization Noteholder (to the extent it is not the same entity as the Lead Securitization Noteholder)
and each Junior Noteholder shall and hereby agree to indemnify the Lead Securitization Noteholder against and hold the Lead Securitization
Noteholder harmless from and against any Taxes, interest, penalties and attorneys’ fees and

 

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disbursements arising or resulting
from any failure of the Lead Securitization Noteholder (or the Servicer on its behalf) to withhold Taxes from payment made to such
Non-Lead Securitization Noteholder or such Junior Noteholder in reliance upon any representation, certificate, statement, document
or instrument made or provided by such Non-Lead Securitization Noteholder or such Junior Noteholder to the Lead Securitization
Noteholder in connection with the obligation of the Lead Securitization Noteholder to withhold Taxes from payments made to such
Noteholders, 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) each Non-Lead Securitization Noteholder and each Junior Noteholder
shall, upon request of the Lead Securitization Noteholder and at its sole cost and expense, defend any claim or action relating
to the foregoing indemnification using counsel selected by the Lead Securitization Noteholder.

 

(c)           Each Non-Lead Securitization Noteholder (to the extent it is not the same entity as the Lead Securitization Noteholder)
and each Junior Noteholder represents to the Lead Securitization Noteholder (for the benefit of the Mortgage Loan Borrower) that
it is not a Non-Exempt Person and that neither the Lead Securitization Noteholder nor the Mortgage Loan Borrower is obligated under
applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement.
Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this Agreement, the
Non-Lead Securitization Noteholders (to the extent it is not the same entity as the Lead Securitization Noteholder) and the Junior
Noteholders shall deliver to the Lead Securitization Noteholder or Servicer, as applicable, evidence satisfactory to the Lead Securitization
Noteholder substantiating that such Noteholder is not a Non-Exempt Person and that the Lead Securitization Noteholder is not obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement.
Without limiting the effect of the foregoing, (i) if such 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 such 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 Borrower is treated for United States income tax purposes as derived in whole or part from sources within the
United States, such 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) or Form W-8BEN, or successor forms,
as may be required from time to time, duly executed by such Noteholder, as evidence of such Noteholder’s exemption from the
withholding of United States tax with respect thereto. The Lead Securitization Noteholder shall not be obligated to make any payment
hereunder to any Non-Lead Securitization Noteholders or the Junior Noteholder in respect of their respective Notes or otherwise
until such 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 the Non-Lead
Securitization Notes and the Junior Notes)

 

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will be held by the Lead Securitization Noteholder (or a custodian acting on behalf
of the Lead Securitization Noteholder) on behalf of the registered holders of the Notes.

 

Section 35.         
[Reserved] 

 

Section 36.         
Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall
be in writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same day
sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight delivery
service (charges prepaid) or (iv) certified United States mail, postage prepaid return receipt requested, and addressed to the
respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter
inform the other party by written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.

 

All notices and reports
(including, without limitation, Asset Status Reports) required to be delivered hereunder by the Lead Securitization Noteholder
(or the Servicer on its behalf) to the Controlling Noteholder (or its Controlling Noteholder Representative), or by the Controlling
Noteholder (or its Controlling Noteholder Representative) to the Lead Securitization Noteholder (or the Servicer on its behalf),
shall also be delivered by the applicable party to the other Noteholders.

 

Section 37.         
Broker. Each Noteholder represents to each other Noteholder that no broker was responsible for bringing about this
transaction.

 

Section 38.         
Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 39.         
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 39, 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 on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the Noteholders (it
being agreed that the Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory to the Noteholders),
has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. SG, as Initial Agent, may transfer its
rights and obligations to the Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without the
consent of any Noteholder. Notwithstanding the foregoing, the Noteholders hereby agree that, simultaneously with the closing of
the Lead Securitization, the Certificate Administrator shall be deemed to have been automatically appointed as the successor Agent
under this Agreement in place of SG without any further notice or other action. The termination or resignation of such Certificate
Administrator, as Certificate Administrator under the Servicing Agreement, shall be deemed a termination or resignation of such
Certificate Administrator as Agent under this Agreement, and any successor certificate administrator shall be deemed to have been
automatically appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.

 

Section 40.        
Resizing. For so long as Note A-2, Note A-3, Note A-4, Note A-5, Note A-7, Note A-8, Note A-9 or Note A-10, as the
case may be, is not in a Securitization, the related Noteholder shall have the right, subject to the terms of the Mortgage Loan
Documents, to cause the Borrower to execute amended and restated notes or additional notes (in either case “New Notes”),
reallocating the principal of such Note among New Notes; reducing the Interest Rates of such New Notes or severing such Note into
one or more further “component” notes in an aggregate principal amount equal to the then outstanding principal balance
of such Note, provided that (i) the aggregate principal balance of the New Notes following such amendments is no greater
than the principal balance of such Note prior to such amendments, (ii) all such New Notes continue to have the same or a lower
interest rate as such Note prior to such amendments, (iii) all such New Notes pay pro rata and on a pari passu
basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement and (iv) the Noteholder
holding such New Notes shall notify the parties to the Servicing Agreement in writing of such modified allocations and principal
amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to execute amendments to the Mortgage Loan
Agreement and this Agreement (or to amend and restate the Mortgage Loan Agreement and this Agreement) on behalf of any or all of
the Holders solely for the purpose of reflecting such reallocation of principal, reduction of Interest Rates or such severing of
such Note, (2) if such Note is severed into “component” notes, such component notes shall each have their same rights
as the respective original Note and (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

 

    79 

    	 

    

 

Notes. Rating Agency Confirmation shall not be required
for any amendments to this Agreement required to facilitate the terms of this Section 40.

 

[SIGNATURE PAGE FOLLOWS]

 

    80 

    	 

    

 

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

	 	 	 
	 	SOCIÉTÉ GÉNÉRALE, as Initial Note A-1 Holder and Initial Agent
	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
as Initial Note A-3 Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

	 	 	 
	 	BANK OF AMERICA, N.A., as Initial Note A-4 Holder
	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name: Steven Wasser
	 	 	Title: Managing Director
	 	 	 
	 	BANK OF AMERICA, N.A., as
Initial Note A-5 Holder
	 	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name: Steven Wasser
	 	 	Title: Managing Director

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

 

	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note A-6 Holder
	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE
	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note A-7 Holder
	 	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE
	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note A-8 Holder
	 	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

	 	 	 
	 	BARCLAYS BANK PLC, as Initial Note A-9 Holder
	 	 
	 	By:	/s/ Spencer Kagan
	 	 	Name: Spencer Kagan
	 	 	Title: Authorized Signatory

 

	 	BARCLAYS BANK PLC, as Initial Note A-10 Holder
	 	 
	 	By:	/s/ Spencer Kagan
	 	 	Name: Spencer Kagan
	 	 	Title: Authorized Signatory

 

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

 

 

	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
as Initial Note B-1 Holder
	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
as Initial Note B-2 Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE, as Initial Note B-3 Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title: Director

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

	 	 	 
	 	BANK OF AMERICA, N.A., as Initial Note B-4 Holder
	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name: Steven Wasser
	 	 	Title: Managing Director
	 	 	 
	 	BANK OF AMERICA, N.A., as
Initial Note B-5 Holder
	 	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name: Steven Wasser
	 	 	Title: Managing Director

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

 

	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note B-6 Holder
	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE
	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note B-7 Holder
	 	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE
	 	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial Note B-8 Holder
	 	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title: CEO-CCRE

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

	 	 	 
	 	BARCLAYS BANK PLC, as Initial Note B-9 Holder
	 	 
	 	By:	/s/ Spencer Kagan
	 	 	Name: Spencer Kagan
	 	 	Title: Authorized Signatory

	 	 	 
	 	BARCLAYS BANK PLC, as Initial
Note B-10 Holder
	 	 
	 	By:	/s/ Spencer Kagan
	 	 	Name: Spencer Kagan
	 	 	Title: Authorized Signatory

 

Potomac
Mills Co-Lender AGREEMENT

 

     

    	 

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

A.       Description
of Mortgage Loan:

 

	Mortgage Loan Agreement:	Loan Agreement, dated as of October 5, 2016 and the Mortgage Loan Borrower
	Mortgage Loan Borrower:	Mall At Potomac Mills, LLC
	Date of the Mortgage Loan Agreement and the Mortgage: 	October 5, 2016
	Initial Principal Amount of Mortgage Loan:	$416,000,000
	Location of Mortgaged Property:	Woodbridge, Virginia
	Initial Maturity Date:	November 1, 2026

 

B.       Description of
Note Interests:

 

	Initial Note A-1 Principal Balance:	$40,000,000
	Initial Note A-2 Principal Balance:	$20,000,000
	Initial Note A-3 Principal Balance:	$12,750,000
	Initial Note A-4 Principal Balance:	$52,000,000
	Initial Note A-5 Principal Balance:	$20,750,000
	Initial Note A-6 Principal Balance:	$30,000,000
	Initial Note A-7 Principal Balance:	$35,000,000
	Initial Note A-8 Principal Balance:	$7,750,000
	Initial Note A-9 Principal Balance:	$36,375,000
	Initial Note A-10 Principal Balance:	$36,375,000

 

     A-1

    	 

    

 

	Initial Note B-1 Principal Balance:	$17,182,131
	Initial Note B-2 Principal Balance:	$8,591,065
	Initial Note B-3 Principal Balance	$5,476,804
	Initial Note B-4 Principal Balance:	$22,336,770
	Initial Note B-5 Principal Balance:	$8,913,230
	Initial Note B-6 Principal Balance	$12,886,598
	Initial note B-7 Principal Balance	$15,034,364
	Initial Note B-8 Principal Balance	$3,329,038
	Initial Note B-9 Principal Balance	$22,336,770
	Initial Note B-10 Principal Balance	$8,913,230
	Initial Note A-1 Percentage Interest: 	9.6%
	Initial Note A-2 Percentage Interest: 	4.8%
	Initial Note A-3 Percentage Interest: 	3.0%
	Initial Note A-4 Percentage Interest: 	12.5%
	Initial Note A-5 Percentage Interest: 	4.9%
	Initial Note A-6 Percentage Interest: 	7.2%
	Initial Note A-7 Percentage Interest:	7.2%
	Initial Note A-8 Percentage Interest:	3.0%
	Initial Note A-9 Percentage Interest:	8.7%
	Initial Note A-10 Percentage Interest:	8.7%
	Initial Note B-1 Percentage Interest	4.1%
	Initial Note B-2 Percentage Interest	2.0%

 

     A-2

    	 

    

 

	Initial Note B-3 Percentage Interest	1.3%
	Initial Note B-4 Percentage Interest:	5.3%
	Initial Note B-5 Percentage Interest:	2.1%
	Initial Note B-6 Percentage Interest:	3.1%
	Initial Note B-7 Percentage Interest:	3.1%
	Initial Note B-8 Percentage Interest:	1.3%
	Initial Note B-9 Percentage Interest:	5.3%
	Initial Note B-10 Percentage Interest:	2.1%
	Initial Note A-1 Rate:	2.988213%
	Initial Note A-2 Rate:	2.988213%
	Initial Note A-3 Rate:	2.988213%
	Initial Note A-4 Rate:	2.988213%
	Initial Note A-5 Rate:	2.988213%
	Initial Note A-6 Rate:	2.988213%
	Initial Note A-7 Rate:	2.988213%
	Initial Note A-8 Rate:	2.988213%
	Initial Note A-9 Rate:	2.988213%
	Initial Note A-10 Rate: 	2.988213%
	Initial Note B-1 Rate:	4.550000%
	Initial Note B-2 Rate:	4.550000%
	Initial Note B-3 Rate:	4.550000%
	Initial Note B-4 Rate:	4.550000%

 

     A-3

    	 

    

 

	Initial Note B-5 Rate:	4.550000%
	Initial Note B-6 Rate:	4.550000%
	Initial Note B-7 Rate:	4.550000%
	Initial Note B-8 Rate:	4.550000%
	Initial Note B-9 Rate:	4.550000%
	Initial Note B-10 Rate:	4.550000%

 

     A-4

    	 

    

 

EXHIBIT B

 

Initial Note A-1 Holder:

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note A-2 Holder:

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note A-3 Holder:

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

 

     B-1

    	 

    

 

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note A-4 Holder:

Bank of America, N.A.

Notice Address:

Bank of America, N.A. 

NC1-027-15-01 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: Steven L. Wasser 

Email: steve.l.wasser@baml.com

 

with a copy to:

 

Bank of America Corporation 

NC1-027-18-05 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: W. Todd Stillerman, Esq. 

Email: william.stillerman@bankofamerica.com

 

Initial Note A-5 Holder:

Bank of America, N.A.

Notice Address:

Bank of America, N.A. 

NC1-027-15-01 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: Steven L. Wasser 

Email: steve.l.wasser@baml.com

 

with a copy to:

 

Bank of America Corporation 

NC1-027-18-05 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: W. Todd Stillerman, Esq. 

Email: william.stillerman@bankofamerica.com

 

     B-2

    	 

    

 

Initial Note A-6 Holder:

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

Initial Note A-7 Holder:

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

Initial Note A-8 Holder:

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department

 

     B-3

    	 

    

 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

Initial Note A-9 Holder:

Barclays Bank PLC

Notice Address:

Barclays Bank PLC 

745 Seventh Avenue 

New York, New York 10019 

Attention: Michael Birajiclian

 

Initial Note A-10 Holder:

Barclays Bank PLC

Notice Address:

Barclays Bank PLC 

745 Seventh Avenue 

New York, New York 10019 

Attention: Michael Birajiclian

 

Initial Note B-1 Holder:

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note B-2 Holder:

 

     B-4

    	 

    

 

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note B-3 Holder: 

Société Générale

Notice Address:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

with a copy to:

Société Générale

245 Park Avenue, 11th Floor

New York, New York 10167

Attention: General Counsel

 

Initial Note B-4 Holder: 

Bank of America, N.A.

Notice Address:

Bank of America, N.A. 

NC1-027-15-01

214 North Tryon Street

Charlotte, North Carolina 28255

Attention: Steven L. Wasser

Email: steve.l.wasser@baml.com

 

with a copy to:

 

Bank of America Corporation 

NC1-027-18-05

 

     B-5

    	 

    

 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: W. Todd Stillerman, Esq. 

Email: william.stillerman@bankofamerica.com

 

Initial Note B-5 Holder 

Bank of America, N.A.

Notice Address:

Bank of America, N.A. 

NC1-027-15-01 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: Steven L. Wasser 

Email: steve.l.wasser@baml.com

 

with a copy to:

 

Bank of America Corporation 

NC1-027-18-05 

214 North Tryon Street 

Charlotte, North Carolina 28255 

Attention: W. Todd Stillerman, Esq. 

Email: william.stillerman@bankofamerica.com

 

Initial Note B-6 Holder 

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

     B-6

    	 

    

 

Initial Note B-7 Holder 

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

Initial Note B-8 Holder

Cantor Commercial Real Estate Lending, L.P.

Notice Address:

Cantor Commercial Real Estate Lending, L.P. 

110 East 59th Street, 6th Floor 

New York, New York 10022 

Attention: Legal Department 

Facsimile No.: (212) 610-3623 

E-Mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP 

200 Liberty Street 

New York, New York 10281 

Attention: Lisa Pauquette, Esq. 

Facsimile No.: (212) 504-6666

 

Initial Note B-9 Holder

Barclays Bank PLC

Notice Address:

Barclays Bank PLC 

745 Seventh Avenue 

New York, New York 10019 

Attention: Michael Birajiclian

 

     B-7

    	 

    

 

Initial Note B-10 Holder 

Barclays Bank PLC

Notice Address:

Barclays Bank PLC 

745 Seventh Avenue 

New York, New York 10019 

Attention: Michael Birajiclian

 

     B-8

    	 

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Alliance Bernstein

 

		2.	Annaly Capital Management

 

		3.	Apollo Global Real Estate

 

		4.	Archon Capital, L.P.

 

		5.	AREA Property Partners

 

		6.	Artemis Real Estate Partners

 

		7.	BlackRock, Inc.

 

		8.	The Blackstone Group International Ltd.

 

		9.	Capital Trust, Inc.

 

		10.	The Carlyle Group

 

		11.	Clarion Partners

 

		12.	Colony Capital, Inc. / Colony Financial, Inc.

 

		13.	CreXus Investment Corporation/Annaly Capital Management

 

		14.	DLJ Real Estate Capital Partners

 

		15.	Dune Real Estate Partners

 

		16.	Eightfold Real Estate Capital, L.P.

 

		17.	Five Mile Capital Partners

 

		18.	Fortress Investment Group LLC

 

		19.	Garrison Investment Group

 

		20.	Goldman, Sachs & Co.

 

		21.	H/2 Capital Partners LLC

 

		22.	Hudson Advisors

 

     C-1

    	 

    

 

		23.	Investcorp International

 

		24.	iStar Financial Inc.

 

		25.	J.E. Roberts Companies

 

		26.	J.P. Morgan Investment Management Inc.

 

		27.	JER Partners

 

		28.	Libermax Capital LLC

 

		29.	LoanCore Capital

 

		30.	Lonestar Funds

 

		31.	Lowe Enterprises

 

		32.	Normandy Real Estate Partners

 

		33.	Och-Ziff Capital Management Group/ OZ Management, L.P./ OZ Management II., L.P.

 

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

 

		35.	Praedium Group

 

		36.	Raith Capital Partners, LLC

 

		37.	Rialto Capital Management, LLC

 

		38.	Rialto Capital Partners LLC

 

		39.	Rimrock Capital Management LLC

 

		40.	Rockpoint Group

 

		41.	Rockwood

 

		42.	RREEF Funds

 

		43.	Square Mile Capital Management LLC

 

		44.	Starwood Capital/Starwood Financial Trust

 

		45.	Torchlight Investors

 

		46.	Walton Street Capital, LLC

 

		47.	Westbrook Partners

 

     C-2

    	 

    

 

		48.	WestRiver Capital

 

		49.	Wheelock Street Capital

 

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

 

		51.	USAA Real Estate Company

 

		52.	Teachers Insurance and Annuity Association of America

 

     C-3

    	 

    

 

SCHEDULE I

 

The Servicing
Agreement shall:

 

(i)           
provide that the Master Servicer and Trustee shall be required to notify the servicer and trustee of each other Securitization
of the amount of any P&I Advance it has made with respect to the Lead Securitization Note 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 Securitization
Note, net of its Servicing Fee and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer
and the Trustee, to the applicable Non-Lead Securitization Noteholder on the applicable Master Servicer Remittance Date; provided
that, for the avoidance of doubt, any late collections received by the Master Servicer after the related due date under the
Mortgage Loan shall be remitted in accordance with clause (vii) below;

 

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

 

(v)           provide that the Master Servicer, any primary servicer, the Special Servicer and the Trustee, 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 15G, Form 10K, Form 10D, Form 8K), and other materials specified in each of the
Non-Lead Servicing Agreements as the parties to each other Securitization may require in order to comply with their obligations
under the Securities Act of 1933, as amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation
AB, and any other applicable law. Without limiting the generality of the foregoing, if applicable, the Lead Securitization Noteholder
shall provide in a timely manner to the depositor and the trustee for any prior Securitization a copy of the Servicing Agreement
and each Servicer (at the expense of the Lead Securitization Noteholder) will be required, upon prior written request, to provide
to the depositor and the trustee for any prior Securitization any other information required to comply in a timely manner with

 

     I-1

    	 

    

 

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 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 and the Special Servicer, upon prior written request, 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)          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 Securitization Note on behalf of the related trustees and related certificate holders
in accordance with the terms and provisions of this Agreement;

 

(vii)         provide that any late collections received by the Master Servicer from a Mortgage Loan borrower for which a P&I Advance
has already been paid by a master servicer or trustee under a Non-Lead Servicing Agreement shall be remitted by the Master Servicer
to such master servicer or trustee under a Non-Lead Servicing Agreement, as applicable, within two Business Days of receipt of
properly identified and available funds; provided, however, that to the extent any such amounts are received after
3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially reasonable efforts to remit such
later collections to the Non-Lead Master Servicer within two Business Days of receipt of properly identified and available funds
but, in any event, the Master Servicer shall remit such amounts within two Business Days of receipt of properly identified and
available funds;

 

(viii)        provide that the Non-Lead Securitization Noteholders 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 Securitization Note under this Agreement and the Servicing Agreement;

 

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

 

     I-2

    	 

    

 

(x)           provide that it shall not be amended in a manner that materially and adversely affects the rights of the Non-Lead Securitization
Noteholders without their consent;

 

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

 

(xii)         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 one Business Day following 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;

 

(xiii)        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 Securitization Noteholders
as required, failure to deliver (or cause to be delivered) materials or information required in order for the Non-Lead Securitization
Noteholders 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); and

 

(xiv)        provide that if a Non-Lead Securitization 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 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 related Non-Lead Securitization Noteholder
and such documents are in the possession of the applicable party to the Servicing Agreement.

 

     I-3Exhibit 4.15

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as of November 22, 2016

by and between

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-1 Holder)

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-2 Holder)

 

And

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-3 Holder)

 

FREMAUX TOWN CENTER

 

    

     

    

 

This AGREEMENT BETWEEN
NOTE HOLDERS (“Agreement”), dated as of November 22, 2016, by and between WELLS FARGO BANK, NATIONAL ASSOCIATION
(“WFB” and together with its successors and assigns in interest, in its capacity as initial owner of Note A-1
(as defined below), the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial
Agent”), WELLS FARGO BANK, NATIONAL ASSOCIATION (together with its successors and assigns in interest, in its capacity
as initial owner of Note A-2 (as defined below), the “Initial Note A-2 Holder”) and WELLS FARGO BANK, NATIONAL
ASSOCIATION (together with its successors and assigns in interest, in its capacity as initial owner of Note A-3 (as defined below),
the “Initial Note A-3 Holder” and together with the Initial Note A-1 Holder and Note A-2 Holder, the “Initial
Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), WFB originated a certain loan (the “Mortgage Loan”) described
on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to Fremaux Town Center SPE, LLC
(the “Mortgage Loan Borrower”), which, at closing, was evidenced, inter alia, by one promissory note
dated June 9, 2016, in the original principal amount of $73,000,000 (the “Original Note”) made by the Mortgage
Loan Borrower in favor of WFB, secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”); and

 

WHEREAS, pursuant to
that Note Splitter Agreement dated as of June 9, 2016, between WFB and the Mortgage Loan Borrower, the Original Note was divided
into three promissory notes, comprised of Substitute Promissory Note A-1 in the original principal amount of $25,000,000 (as amended,
modified, consolidated, or supplemented, “Note A-1”), Substitute Promissory Note A-2 in the original principal
amount of $30,000,000 (as amended, modified, consolidated, or supplemented, “Note A-2”) and Substitute Promissory
Note A-3 in the original principal amount of $18,000,000 (as amended, modified, consolidated or supplemented, “Note A-3”,
and together with Note A-1 and Note A-2, the “Notes”);

 

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

 

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

 

Section
1.          Definitions; Conflicts. References to a
“Section” or the “recitals” are, unless otherwise specified, to a Section or the recitals of this
Agreement. Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms, or terms of
substantially similar import, in the Lead Securitization Servicing Agreement. To the extent of any conflict between this
Agreement and the Lead Securitization 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.

 

    

     

    

 

“Advance Interest”
shall mean the interest accrued on any Servicing Advance which is payable to the party that made that Servicing Advance, in accordance
with the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Certificate
Administrator” shall mean the certificate administrator appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

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

 

    -2-

     

    

 

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

 

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

 

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

 

“Controlling
Note Holder” shall mean the Note A-1 Holder; provided that at any time Note A-1 is included in a Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in such Securitization designated as the “controlling class” or such other party otherwise assigned the rights
to exercise the rights of the “Controlling Note Holder” under this Agreement or under the Note A-1 PSA, as and to the
extent provided in the Note A-1 PSA; provided that if at any time 50% or more of Note A-1 (or the class of securities issued
under the Note A-1 PSA designated as the “controlling class”) is held by (or such other party otherwise assigned the
rights to exercise the rights of the “Controlling Note Holder” is) a Borrower Party, Note A-1 (or the class of securities
issued under the Note A-1 PSA designated as the “controlling class” or such other party otherwise assigned the rights
to exercise the rights of the “Controlling Note Holder”) shall not be entitled to exercise any rights of the Controlling
Note Holder under this Agreement or the Note A-1 PSA, as and to the extent provided in the Note A-1 PSA, and the Note A-2 Holder
shall be the Controlling Note Holder unless 50% or more of Note A-2 (or class of securities issued under the Note A-2 PSA designated
as the “controlling class”) is held by (or such other party otherwise assigned the rights to exercise the rights of
the Controlling Note Holder is) a Borrower Party, Note A-2 (or the class of securities issued under the Note A-1 PSA designated
as the “controlling class” or such other party otherwise assigned the rights to exercise the rights of the “Controlling
Note Holder”) shall not be entitled to exercise any rights of the Controlling Note Holder under this Agreement or the Note
A-1 PSA, as and to the extent provided in the Note A-1 PSA, and the Note A-3 Holder shall be the Controlling Note Holder unless
50% or more of Note A-3 (or class of securities issued under the Note A-3 PSA designated as the “controlling class”)
is held by (or such other party otherwise assigned the rights to exercise the rights of the Controlling Note Holder is) a Borrower
Party. If 50% or more of each of Note A-1, Note A-2 and Note A-3 (or class of securities issued under the Note A-1 PSA, the Note
A-2 PSA and Note A-3 PSA designated as the “controlling class”) is held by (or such other party otherwise assigned
the rights to exercise the rights of the Controlling Note Holder is) a Borrower Party, no person shall be entitled to exercise
the rights of the Controlling Note Holder under this Agreement or the Note A-1 PSA, as and to the extent provided in the Note A-1
PSA, and there shall be deemed to be no Controlling Note Holder hereunder.

 

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

 

    -3-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -4-

     

    

 

“Interest Rate”
shall have the meaning assigned to such term (or analogous term) in the Mortgage Loan Documents.

 

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

 

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

 

“Lead Securitization”
shall mean the Note A-1 Securitization; provided that, if any other Securitization occurs prior to the Note A-1 Securitization,
then the first such Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs.

 

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

 

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

 

“Lead Securitization
Note Holder Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Lead
Securitization Servicing Agreement.

 

“Lead Securitization
Servicing Agreement” shall mean (i) the pooling and servicing agreement or other comparable agreement related to the
Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance
with the second paragraph of Section 2(a).

 

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

 

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

 

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

 

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

 

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

 

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

 

    -5-

     

    

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of June 9, 2016, between the Mortgage Loan Borrower, as borrower,
Wells Fargo Bank, National Association, as lender, as the same may be further amended, restated, supplemented or otherwise modified
from time to time, subject to the terms hereof.

 

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

 

“Mortgage Loan
Borrower Related Party” shall have the meaning assigned to such term in Section 13.

 

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

 

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

 

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

 

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

 

“Non-Controlling
Note” means each of Note A-2 and Note A-3.

 

“Non-Controlling
Note Holder” means each holder of a Non-Controlling Note; provided that with respect to each Non-Controlling Note,
at any time such Non-Controlling Note is included in a Securitization, references to the “Non-Controlling Note Holder”
herein shall mean the holders of the majority of the class of securities issued in such Securitization designated as the “controlling
class” or such other party otherwise assigned the rights to exercise the rights of the “Non-Controlling Note Holder”
under this Agreement or under the related Securitization Servicing Agreement, as and to the extent provided in the related Securitization
Servicing Agreement, and as to the identity of which the Controlling Note Holder (and, if applicable, the Master Servicer and the
Special Servicer) has been given written notice; provided, further that if at any time 50% or more of any Non-Controlling
Note (or class of securities issued in a Securitization into which such Non-Controlling Note has been deposited is designated as
the “controlling class”) is held by (or such other party otherwise assigned the rights to exercise the rights of the
“controlling class” under the related Securitization Servicing Agreement is) a Borrower Party, no such Note Holder
or other Person shall be entitled to exercise any rights of such Non-Controlling Note Holder under this Agreement or the related
Securitization Servicing Agreement, as and to the extent provided in the related Securitization Servicing Agreement. The Controlling
Note Holder and the Lead Securitization Note Holder (or, if applicable, the Master Servicer or the Special Servicer acting on its
behalf) shall not be required at any time to deal with more than one party exercising the rights of a “Non-Controlling

 

    -6-

     

    

 

Note
Holder” herein or under the Lead Securitization Servicing Agreement and, (x) to the extent that the related Securitization
Servicing Agreement assigns such rights to more than one party or (y) to the extent the related Non-Controlling Note is split into
two or more New Notes pursuant to Section 32, for purposes of this Agreement, such Securitization Servicing Agreement or the holders
of such New Notes shall designate one party to deal with the Controlling Note Holder and the Lead Securitization Note Holder (or,
the Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Controlling
Note Holder and the Lead Securitization Note Holder (or, the Master Servicer and the Special Servicer acting on its behalf); provided
that, in the absence of such designation and notice, the Controlling Note Holder and the Lead Securitization Note Holder (or, the
Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received
written notice as having been designated as the Non-Controlling Note Holder with respect to such Non-Controlling Note for all purposes
of this Agreement. As of the date hereof and until further notice from the Non-Controlling Note Holder (or, if applicable, the
related Non-Lead Master Servicer or another party acting on its behalf), the Initial Note A-2 Holder is the Non-Controlling Note
Holder with respect to Note A-2 and the Initial Note A-3 Holder is the Non-Controlling Note Holder with respect to Note A-3.

 

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

 

“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 any Servicer on behalf
of the Note Holders to make such payments free of any obligation or liability for withholding.

 

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

 

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

 

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

 

    -7-

     

    

 

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

 

“Non-Lead Securitization
Note Holder” shall mean each holder of a Non-Lead Securitization Note; provided that with respect to each Non-Lead
Securitization Note, at any time such Non-Lead Securitization Note is included in a Securitization, references to the “Non-Lead
Securitization Note Holder” herein shall mean the holders of the majority of the class of securities issued in such Securitization
designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights
of the “Non-Lead Securitization Note Holder” under this Agreement or under the related Non-Lead Securitization Servicing
Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement, and as to the identity of
which the Lead Securitization Note Holder (and, if applicable, the Master Servicer and the Special Servicer) has been given written
notice; provided, further that if at any time 50% or more of any Non-Lead Securitization Note (or class of securities
issued in a Securitization into which such Non-Lead Securitization Note has been deposited is designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “controlling class”
under the related Non-Lead Securitization Servicing Agreement) is held by a Borrower Party, no such Note Holder or other Person
shall be entitled to exercise any rights of such Non-Lead Securitization Note Holder under this Agreement or the related Non-Lead
Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.

 

“Non-Lead Securitization
Note Holder Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Non-Lead
Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -8-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note A-3 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered into in connection with the Note A-3 Securitization.

 

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

 

“Note A-3 Securitization
Date” shall mean the closing date of the Note A-3 Securitization.

 

    -9-

     

    

 

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

 

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

 

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

 

“Note Principal
Balance” shall mean, (i) with respect to Note A-1, the Note A-1 Principal Balance, (ii) with respect to Note A-2, the
Note A-2 Principal Balance and (iii) with respect to Note A-3, the Note A-3 Principal Balance.

 

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

 

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

 

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

 

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

 

“Percentage
Interest” shall mean, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which
is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal
Balances of all of the Notes.

 

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

 

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

 

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

 

    -10-

     

    

 

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

 

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

 

(b)          one
or more of the following:

 

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

 

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

 

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

 

(iv)       an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional Lender
under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or
(ii)

 

    -11-

     

    

 

above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for the
day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests in
such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional Lenders
(without regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

 

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

 

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

 

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

 

“Qualified Trustee”
shall mean (i) a corporation, national bank, national banking association or a trust company, organized and doing business under
the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept
the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by
federal or state authority or (ii) an institution whose long-term senior unsecured debt is rated in either of the then in effect
top three rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent
(or higher) rating from any two of Fitch, Moody’s and S&P).

 

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

 

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing (which may be in electronic form)
by each of the applicable Rating Agencies for such Securitization that a proposed action, failure to act or other event so specified

 

    -12-

     

    

 

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

 

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

 

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

 

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

 

“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.

 

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

 

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

 

    -13-

     

    

 

“Securitization”
shall mean the Note A-1 Securitization, the Note A-2 Securitization or the Note A-3 Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Servicing Standard”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement. The Servicing
Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in servicing the
Mortgage Loan, must take into account the interests of each Note Holder.

 

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

 

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

 

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

 

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

 

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

 

    -14-

     

    

 

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

 

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

 

Section 2.            Servicing
of the Mortgage Loan.

 

(a)           Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and
after the Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead
Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments
of principal or interest in respect of any Note other than the Lead Securitization Note (unless such other Note is also included
in the Lead Securitization) if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to make
Servicing Advances, subject to the terms of the Lead Securitization Servicing Agreement. The Lead Securitization Servicing Agreement
shall contain terms and conditions that are customary for securitization transactions involving assets similar to the Mortgage
Loan and that are otherwise (i) required by the Code relating to the tax elections of any Securitization Trust, (ii) required by
law or changes in any law, rule or regulation or (iii) generally required by the Rating Agencies in connection with the issuance
of ratings in securitizations similar to the Securitizations. Each Note Holder acknowledges that each other Note Holder may elect,
in its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 26 hereof, reasonably
cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. Subject to the
terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of
the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement by the Depositor and the appointment of the
Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer
with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder
hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s
attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing of the Mortgage Loan
on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of such Note Holder set forth
herein and in the Lead Securitization Servicing Agreement). In no event shall the Lead Securitization Servicing Agreement require
the Servicer to enforce the rights of any Note Holder against any other Note Holder or limit the Servicer in enforcing the rights
of one Note Holder against any other Note Holder; however, this statement shall not be construed to otherwise limit the rights
of one Note Holder with respect to any other Note Holder, and is subject in all respect to Section 6.04 of the

 

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Lead Securitization
Servicing Agreement. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage
Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, shall provide information to each servicer under the Non-Lead Securitization Servicing Agreement to enable
each such servicer to perform its servicing duties, and shall not take any action or refrain from taking any action or follow any
direction inconsistent with the foregoing.

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been
obtained from each other Rating Agency with respect to any such Non-Lead Securitization Note regarding any servicer(s) to be appointed
under such replacement servicing agreement that would not otherwise meet the conditions to be a servicer under the Lead Securitization
Servicing Agreement that is being replaced; provided, further, that until a replacement servicing agreement has been
entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the
Lead Securitization Servicing Agreement, as if such agreement were still in full force and effect with respect to the Mortgage
Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is a servicer
meeting the requirements of a master servicer under the Lead Securitization Servicing Agreement.

 

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

 

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Master Servicer, reimburse the Lead
Securitization for its pro rata share of such Nonrecoverable Advance or Advance Interest.

 

In addition,
each Non-Lead Securitization Note Holder (including, but not limited to, any Securitization Trust into which a Non-Lead Securitization
Note is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization
for such Non-Lead Securitization Note Holder’s pro rata share of any fees, costs or expenses incurred in connection
with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Operating Advisor, the Asset Representations Reviewer or the Depositor, as applicable, is entitled
to be reimbursed pursuant to the Lead Securitization Servicing Agreement, to the extent amounts on deposit in the Companion Distribution
Account or Collection Account are insufficient for reimbursement of such amounts. Each Non-Lead Securitization Note Holder shall
indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following parties in respect
of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement)
each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, Asset Representations
Reviewer and the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are
identified as indemnified parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) (the “Indemnified
Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with servicing and administration of the Mortgage Loan (or,
with respect to the Operating Advisor and the Asset Representations Reviewer, incurred in connection with the provision of services
for the Mortgage Loan) under the Lead Securitization Servicing Agreement (collectively, the “Indemnified Items”)
to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Companion Distribution
Account or Collection Account in respect of the Mortgage Loan, as applicable, are insufficient for reimbursement of such amounts,
each Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer, reimburse each
of the applicable Indemnified Parties for its pro rata share of the insufficiency; provided, however, that
each Non-Lead Securitization Note Holder’s duty to pay Indemnified Items to the Operating Advisor shall be subject to any
limitations and conditions (including limitations and conditions with respect to the timing of such payments and the sources of
funds for such payments) as may be set forth from time to time in a related Non-Lead Securitization Servicing Agreement.

 

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

 

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Agreement,
as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on
the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the Non-Lead Securitization
Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the related Non-Lead Master Servicer or the related
Non-Lead Trustee shall be required to notify the other of the amount of its P&I Advance within two Business Days of making
such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization
Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or a Non-Lead Trustee, as applicable (with respect to a Non-Lead
Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance
is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines
that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable,
then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or the related Non-Lead Master Servicer or the
related Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the related Non-Lead Master Servicer, the related Non-Lead Special Servicer or the related Non-Lead Trustee)
shall notify the Master Servicer and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as the case may be,
of the other Securitization within one Business Day of making such determination. Each of the Master Servicer, the Trustee, a Non-Lead
Master Servicer and a Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a P&I Advance that becomes
non-recoverable first from the Companion Distribution Account from amounts allocable to the Note for which such P&I
Advance was made, and then, if funds are insufficient, (i) in the case of the Lead Securitization Note, from general collections
of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of
a Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent provided in
the related Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

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Servicer after the related due date under the Mortgage Loan shall be remitted
by the Master Servicer in accordance with clause (c)(xiii) below;

 

(ii)           with
respect to the Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to
be delivered or to make available to the Non-Lead Master Servicer all reports required to be delivered by the Master Servicer to
the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level
reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing
Agreement, to the extent related to the Mortgage Loan, the Mortgaged Property, the Non-Lead Securitization Note, the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, by the earlier of (x) the Master Servicer Remittance Date and
(y) the Business Day following the Non-Lead Securitization Determination Date, in each case so long as the date on which delivery
is required under this clause (ii) is at least one business day after the scheduled monthly payment date under the Loan Agreement;

 

(iii)          the
Master Servicer shall deliver or cause to be delivered in electronic format to the Non-Lead Master Servicer under the Non-Lead
Securitization Servicing Agreement any and all other reports required to be delivered by the Master Servicer to the Certificate
Administrator pursuant to the terms of the Lead Securitization Servicing Agreement to the extent related to a Non-Lead Securitization
Note;

 

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

 

(v)           with
respect to any Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange Act (including
Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the

 

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Trustee, the Certificate
Administrator or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required
to cause each other servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation
AB) retained or engaged by it to deliver; provided that such party shall only be required to use commercially reasonable efforts
to cause a Mortgage Loan Seller Sub-Servicer to deliver), to the Non-Lead Depositor and the Non-Lead Trustee, in a timely manner,
(i) the reports, certifications, compliance statements, accountants’ assessments and attestations, and all information to
be included in reports (including, without limitation, Form ABS 15G, Form 10-K, Form 10-D and Form 8-K), and (ii) upon request,
any other materials specified in the Non-Lead Securitization Servicing Agreement, in the case of clauses (i) and (ii), as the parties
to each Non-Lead Securitization may reasonably require in order to comply with their obligations under the Securities Act, the
Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and (b) without limiting the generality of the foregoing, the
Initial Note Holder of the Lead Securitization Note shall provide in a timely manner to the Non-Lead Depositor and the Non-Lead
Trustee, if any, a copy of the Lead Securitization Servicing Agreement in EDGAR-compatible format (but not later than one business
day following the closing date of the Lead Securitization) and each Servicer under the Lead Securitization Servicing Agreement
will be required, upon prior written request, to provide to the Non-Lead Depositor and the Non-Lead Trustee, if any, 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 each case in a timely manner for inclusion in any disclosure
document (or for filing under Form 8-K, as applicable), and with respect to such 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 (in each case at the expense of the Non-Lead Note Holder). The Master Servicer, any primary servicer and the Special
Servicer 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 Non-Lead Securitization Servicing Agreement;

 

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

 

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Regulation AB compliance) of the Lead Securitization Servicing Agreement) and any amendments to any
reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an
itemized invoice from such Non-Lead Depositor;

 

(vii)        each
Non-Lead Securitization Note Holder is an intended third-party beneficiary in respect of the rights afforded it under the Lead
Securitization Servicing Agreement;

 

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

 

(ix)          if
the Mortgage Loan becomes a Defaulted Mortgage Loan and the Special Servicer determines to sell the Lead Securitization Note in
accordance with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell both of the Notes
as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with
any such sale, the Special Servicer shall provide notice to each Non-Lead Master Servicer who shall provide notice to the related
Non-Controlling Note Holder of the planned sale and of such Non-Controlling Note Holder’s opportunity to submit an offer
on the Mortgage Loan;

 

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

 

(xi)          Servicer
Termination Events with respect to the Master Servicer and the Special Servicer shall include: (i) solely with respect to the Master
Servicer, the failure to timely remit payments to a Non-Lead Securitization Note Holder, which failure continues unremedied for
one (1) Business Day following the date on which such payment was to be made; (ii) solely with respect to the Special Servicer,
the failure to deposit into any REO Account any amount required to be so deposited within two (2) Business Days after the date
such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection Account or the Companion
Distribution Account, as applicable, any amount required to be so remitted by the Special Servicer within one (1) Business Day
after the date such remittance was to be made; (iii) the qualification, downgrade or withdrawal, or placing on “watch status”
in contemplation of a rating downgrade or withdrawal of the ratings of any class of certificates issued in connection with a Non-Lead
Securitization by the rating agencies rating such securities (and such qualification, downgrade, withdrawal or “watch status”
placement shall not have been withdrawn by such rating agencies within sixty (60) days of actual knowledge of such event by the
Master Servicer or the Special Servicer, as the case may be), and publicly citing servicing concerns with the Master Servicer or
Special Servicer, as applicable, as the sole or a material factor in such rating action; and (iv) the failure to provide to a Non-Lead
Securitization Note Holder (if and to the extent required under the related Non-Lead

 

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Securitization) reports required under the
Exchange Act, and the rules and regulations thereunder, in a timely fashion. Upon the occurrence of such a Servicer Termination
Event with respect to the Master Servicer affecting a Non-Lead Securitization Note Holder, and the Master Servicer is not otherwise
terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee or the Master Servicer shall, upon the direction
of a Non-Lead Securitization Note Holder, require the appointment of a subservicer with respect to the related Non-Lead Securitization
Note. Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Securitization
Note Holder, and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the
Trustee shall, upon direction of a Non-Lead Securitization Note Holder, terminate the Special Servicer with respect to, but only
with respect to, the Mortgage Loan;

 

(xii)         in
connection with (A) any amendment of the Lead Securitization Servicing Agreement, a party to such Lead Securitization Servicing
Agreement is required to provide a copy of the executed amendment to each Non-Lead Depositor and one or more parties to the related
Non-Lead Securitization 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 Lead Securitization Servicing Agreement, the replacement “master servicer” or replacement
“special servicer”, as applicable, is required to provide to each Non-Lead Depositor and one or more parties to the
related Non-Lead Securitization Servicing Agreement all disclosure about itself that is required to be included in Form 8-K no
later than the date of effectiveness thereof;

 

(xiii)        any
late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to a Non-Lead Securitization
Note or reimbursable to a Non-Lead Master Servicer or a Non-Lead Trustee shall be remitted by the Master Servicer to the related
Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified and available funds constituting such late
collections; provided, however, that to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business
Day, the Master Servicer shall use commercially reasonable efforts to remit such late collections to such Non-Lead Master Servicer
within one (1) Business Day of receipt of properly identified and available funds but, in any event, the Master Servicer shall
remit such amounts within two (2) Business Days of receipt of properly identified and available funds;

 

(xiv)       
if 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 with the related
Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer
with any documents reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent (x) such documents
are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and (y) such
Non-

 

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Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage loan seller; and

 

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

 

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

 

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

 

(xviii)      The
initial holder of each Lead Securitization Note shall:

 

(i)         give
the other Note Holders notice of the Securitization of the Lead Securitization Note in writing (which may be by email) not less
than three (3) business days prior to the applicable pricing date for the Lead Securitization, together with contact information
for each of the parties to the Lead Securitization Servicing Agreement;

 

(ii)        on
the closing date of the Lead Securitization, or the next business day thereafter, send (or provide for access through a financial
printer together with notice (which may be by email) and contact information therefor) a copy (in EDGAR-compatible format) of the
Lead Securitization Servicing Agreement to each other Note Holder; and

 

(iii)       give
each other Note Holder 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 the Lead Securitization Servicing Agreement)
by the Depositor of the Lead Securitization Servicing Agreement subsequent to the Securitization Date if such filing contains revisions
or changes that are material to the other Note Holders.

 

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

 

(i)            such
Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Advances relating
to Servicing Advances (and Advance Interest thereon) and any additional expenses of the Trust Fund, but only to the extent that
such expenses relate to servicing and administration of the Notes, including

 

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without limitation, any unpaid Special Servicing Fees,
Liquidation Fees and Workout Fees relating to the Notes, and that in the event that amounts on deposit in the Companion Distribution
Account or Collection Account in respect of the Mortgage Loan, as applicable, are insufficient for reimbursement of such amounts,
(i) the related Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer, reimburse the
Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, out of general collections
in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement for such Non-Lead
Securitization Note Holder’s pro rata share of any such Nonrecoverable Advances and/or additional expenses of the
Trust Fund, and (ii) if the Lead Securitization Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee to reimburse itself from the Lead Securitization Trust’s general collections, then the Master
Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, may do so and the related Non-Lead
Master Servicer will be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization Trust
out of general collections in the collection account (or equivalent account) established under the related Non-Lead Securitization
Servicing Agreement for such Non-Lead Securitization Note Holder’s pro rata share of any such Nonrecoverable Advances
and/or additional expenses of the Trust Fund;

 

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

 

(iii)          the
related Non-Lead Master Servicer, related Non-Lead Trustee or certificate administrator under the related Non-Lead Securitization
Servicing Agreement will be required to deliver to the Trustee, the Certificate Administrator, the Special Servicer, the Master
Servicer and the Operating Advisor (i) promptly following Securitization of such Non-Lead Securitization Note, notice of the deposit
of such Non-Lead Securitization Note into a Securitization Trust (which notice shall also provide contact information for the related
Non-Lead Trustee, the related certificate administrator, the related Non-Lead Master Servicer, the related Non-Lead Special Servicer
and the party designated to exercise the rights of the related “Non-Controlling Note Holder” and “Non-Lead Securitization
Note Holder” under this Agreement),

 

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accompanied by a certified copy of the related executed Non-Lead Securitization Servicing
Agreement and (ii) notice of any subsequent change in the identity of the related Non-Lead Master Servicer or the party designated
to exercise the rights of the related “Non-Controlling Note Holder” or “Non-Lead Securitization Note Holder”
under this Agreement (together with the relevant contact information); and

 

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

 

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

 

(f)            The
Lead Securitization Note Holder agrees that, if a Non-Lead Securitization Note is included in a Securitization, and such Non-Lead
Securitization is subject to reporting requirements under Regulation AB, the Master Servicer, the Special Servicer, the Trustee
and the Custodian shall be required to reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection with
such Non-Lead Asset Representations Reviewer’s obligations under any Non-Lead Securitization Servicing Agreement with respect
to the Mortgage Loan by providing any documents reasonably requested by the Non-Lead Asset Representations Reviewer or other requesting
party in connection with the Non-Lead Asset Representations Reviewer’s obligations, but only to the extent such documents
are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, but in any
event excluding any documents known to such the Master Servicer, the Special Servicer, the Trustee or the Custodian to contain
information that is proprietary to the related originator or Initial Note Holders or any draft documents or privileged or internal

 

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communications. The reasonable out-of-pocket expenses of the Master Servicer, Special Servicer, the Trustee and the Custodian actually
incurred in connection with their compliance with such requests shall be reimbursable by the Non-Lead Asset Representations Reviewer
or, if not paid by the Non-Lead Asset Representations Reviewer, the Non-Lead Securitization Note Holder.

 

Section 3.         Priority
of Payments.

 

(a)          Each
Note shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of any other Note
or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect
to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received
in the form of Periodic Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other
collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements
to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with
the terms of the Mortgage Loan Documents) shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes
on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage Loan
Documents to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection
expenses or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization
Servicing Agreement shall be applied to the extent set forth in, and in accordance with the terms of, the Mortgage Loan Documents;
and (y) all amounts that are then due, payable or reimbursable to any Servicer, with respect to the Mortgage Loan pursuant to the
Lead Securitization Servicing Agreement and any other compensation payable to it thereunder (including without limitation, any
additional expenses of the Trust Fund relating to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof)
reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees and Penalty Charges
(to the extent provided in the immediately following paragraph) but excluding (i) any P&I Advances (and interest thereon) on
the Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any Master Servicing Fees
due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of that portion of such servicing
fees calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization
Servicing Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in
accordance with the Lead Securitization Servicing Agreement.

 

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

 

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be used to reduce, on a pro rata basis, the amounts payable on each Note by the
amount necessary to pay additional expenses of the Trust Fund (other than Special Servicing Fees, unpaid Workout Fees and Liquidation
Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally,
(i) in the case of the remaining amount of Penalty Charges allocable to the Lead Securitization Note, shall be paid to the Master
Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement
and (ii) in the case of the remaining amount of Penalty Charges allocable to the Non-Lead Securitization Note, be paid, (x) prior
to the securitization of such Note, to the Non-Lead Securitization Note Holder and (y) following the securitization of such Note,
to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization
Servicing Agreement.

 

Any proceeds received
from the sale of the primary servicing rights with respect to the Mortgage Loan shall be remitted, promptly upon receipt thereof,
to the Note Holders on a Pro Rata and Pari Passu Basis. Any proceeds received by any Note Holder from the sale of master servicing
rights with respect to its Note shall be for its own account.

 

Section 4.         Workout. Notwithstanding anything
to the contrary contained herein, but subject to the terms and conditions of the Lead Securitization Servicing Agreement, and the
obligation to act in accordance with the Servicing Standard, if the Lead Securitization Note Holder, or any Servicer, in connection
with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof such that (i) the principal balance of the
Mortgage Loan is decreased, (ii) the Interest Rate is reduced, (iii) payments of interest or principal on any Note are waived,
reduced or deferred or (iv) any other adjustment is made to any of the payment terms of the Mortgage Loan, such modification shall
not alter, and any modification of the Mortgage Loan Documents shall be structured to preserve, the equal priorities of each Note
as described in Section 3.

 

Section 5.         Administration
of the Mortgage Loan.

 

(a)          Subject
to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement and subject to the
rights and consents, where required, of the Controlling Note Holder, the Lead Securitization Note Holder (or the Master Servicer,
the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole and exclusive
authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including,
without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action
or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default,
accelerate the Mortgage Loan or institute any foreclosure action or other remedy, and no Non-Lead Securitization Note Holder shall
have any voting, consent or other rights whatsoever except as explicitly set forth herein with respect to the Lead Securitization
Note Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this
Agreement and the Lead Securitization Servicing Agreement, no Non-Lead Securitization Note Holder shall have any right to, and
each Non-Lead Securitization Note Holder hereby presently and irrevocably assigns and conveys to the Lead Securitization Note Holder
(or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note

 

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Holder) the rights,
if any, that such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the
Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without
limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower.
The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization
Note Holder) shall not have any fiduciary duty to any Non-Lead Securitization Note Holder in connection with the administration
of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Note Holder from the obligation to make any disbursement
of funds as set forth herein or its obligation to follow the Servicing Standard (in the case of the Master Servicer or the Special
Servicer) or any liability for failure to do so).

 

Each Note Holder hereby
acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead
Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan to sell the Notes together as notes evidencing one
whole loan in accordance with the terms of the Lead Securitization Servicing Agreement and shall require that all offers be submitted
to the Special Servicer in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by
the Special Servicer, if the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror
is an Interested Person. Absent an offer at least equal to the Purchase Price, no offer from an Interested Person shall constitute
a fair price unless (i) it is the highest offer received and (ii) at least two other offers are received from independent third
parties. In determining whether any offer from an Interested Person received represents a fair price for the Mortgage Loan, the
Trustee shall rely on the most recent Appraisal (or update of such Appraisal) conducted in accordance with the Lead Securitization
Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal, on a new Appraisal. In
determining whether any such offer from a Person other than an Interested Person constitutes a fair price for the Mortgage Loan,
the Special Servicer shall take into account (in addition to the results of any Appraisal or updated Appraisal or narrative appraisal
that it may have obtained within the prior nine (9) months pursuant to the Lead Securitization Servicing Agreement) among other
factors, the period and amount of the occupancy level and physical condition of the Mortgaged Property and the state of the local
economy. In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Loan,
the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) of the related Mortgaged Property conducted in
accordance with this Agreement within the preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal.
Except as provided in the following paragraph, the cost of any Appraisal will be covered by, and will be reimbursable as, a Servicing
Advance by the Master Servicer. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting
on behalf of the Lead Securitization Note Holder) shall not be permitted to sell the Mortgage Loan without the written consent
of each Non-Lead Securitization Note Holder (provided that such consent is not required if the related Non-Lead Securitization
Note is held by a Borrower Party) unless the Special Servicer has delivered to such Non-Lead Securitization Note Holder: (a) at
least 15 Business Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior
to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special
Servicer in connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale

 

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date, a copy of the most
recent appraisal for the Mortgage Loan, and any documents in the servicing file reasonably requested by such Non-Lead Securitization
Note Holder that are material to the sale price of the Mortgage Loan and (d) until the sale is completed, and a reasonable period
of time (but no less time than is afforded to other offerors and the Lead Securitization Note Holder Representative) prior to the
proposed sale date, all information and other documents being provided to other offerors and all leases or other documents that
are approved by the Master Servicer or the Special Servicer in connection with the proposed sale; provided, however,
that such Non-Lead Securitization Note Holder may waive any delivery or timing requirements set forth in this sentence only for
itself. Subject to the foregoing, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling
Note Holders and the Non-Controlling Note Holder Representatives shall be permitted to submit an offer at any sale of the Mortgage
Loan (unless such Person is a Borrower Party).

 

Notwithstanding anything
contained in the preceding paragraph to the contrary, if the Trustee is required to determine whether a cash offer by an Interested
Person constitutes a fair price, the Trustee may (at its option and at the expense of the offering Interested Person purchaser)
designate an independent third party expert in real estate or commercial mortgage loan matters with at least five (5) years’
experience in valuing loans similar to the Mortgage Loan, that has been selected with reasonable care by the Trustee to determine
if such cash offer constitutes a fair price for the Mortgage Loan. If the Trustee designates such third party to make such determination,
the Trustee shall be entitled to rely conclusively upon such third party’s determination. The reasonable fees of, and the
costs of all appraisals, inspection reports and broker opinions of value incurred by any such third party shall be covered by,
and shall be reimbursable, from the offering Interested Person.

 

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

 

The authority of the
Lead Securitization Note Holder to sell the Non-Lead Securitization Notes, and the obligations of the Non-Lead Securitization Note
Holders to execute and deliver instruments or deliver the Non-Lead Securitization Notes upon request of the Lead Securitization
Note Holder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization
Note is repurchased by the Initial Note Holder from the trust fund established under the Lead Securitization Servicing Agreement
in connection with a material breach of representation or warranty made by such Initial Note Holder with respect to the Lead Securitization
Note or material document defect with respect to the documents delivered by the related Initial Note Holder with respect to the

 

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

 

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

 

(c)          Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization
Note Holder Representative pursuant to the Lead Securitization Servicing Agreement (for this purpose, without regard to whether
such items are actually required to be provided to the Lead Securitization Note Holder Representative under the Lead Securitization
Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event or effectively equivalent
period) with respect to any Major Decision or the implementation of any recommended actions outlined in an Asset Status Report
relating to the Mortgage Loan, to a Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative),
within the same time frame it is required to provide to the Lead Securitization Note Holder Representative (for this purpose, without
regard to whether such items are actually required to be provided to the Lead Securitization Note Holder Representative under the
Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination Event
or effectively equivalent period) and (ii) to consult with each Non-Lead Securitization Note Holder (or its Non-Lead Securitization
Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports,
such Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative) requests consultation with
respect to any such Major Decision or the implementation of any recommended actions outlined in an

 

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Asset Status Report relating
to the Mortgage Loan, and consider alternative actions recommended by such Non-Lead Securitization Note Holder (or its Non-Lead
Securitization Note Holder Representative); provided that after the expiration of a period of ten (10) Business Days from
the delivery to such Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative) by the Lead
Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) of written notice of a proposed
action, together with copies of the notice, information and report required to be provided to the Lead Securitization Note Holder
Representative, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
no longer be obligated to consult with such Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative)
(unless, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) proposes a new
course of action that is materially different from the action previously proposed, in which case such ten (10) Business Day period
shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding
the consultation rights of each Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative)
set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting
on its behalf) may make any Major Decision or any action set forth in the Asset Status Report before the expiration of the aforementioned
ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines
that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead
Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or
take any alternative actions recommended by a Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative).

 

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

 

(d)          If
any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage Loan shall
be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage” within
the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on behalf
of the Note Holders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure of the
Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interest of the pro
rata share of each Note Holder therein shall at all times qualify as “foreclosure property” within the meaning
of Section 860G(a)(8) of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent
to or withhold consent from any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any

 

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powers or rights
which the Note Holders may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification”
of the Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury,
more than three (3) months after the startup day of the REMIC which includes the Notes (or any portion thereof). Each Note Holder
agrees that the provisions of this paragraph shall be effected by compliance with any REMIC provisions in the Lead Securitization
Servicing Agreement relating to the administration of the Mortgage Loan.

 

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

 

Section 6.         Rights
of the Controlling Note Holder and Non-Controlling Note Holders.

 

(a)          The
Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights
and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”). The Controlling
Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling
Note Holder Representative. When exercising its various rights under Section 5 and elsewhere in this Agreement, the Controlling
Note Holder may, at its option, in each case, act through the Controlling Note Holder Representative. The Controlling Note Holder
Representative may be any Person (other than a Borrower Party), including, without limitation, the Controlling Note Holder, any
officer or employee of the Controlling Note Holder, any Affiliate of the Controlling Note Holder or any other unrelated third party.
No such Controlling Note Holder Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling
Note Holder). All actions that are permitted to be taken by the Controlling Note Holder under this Agreement may be taken by the
Controlling Note Holder Representative acting on behalf of the Controlling Note Holder. No Servicer, Certificate Administrator
or Trustee acting on behalf of the Lead Securitization Note Holder shall be required to recognize any Person as a Controlling Note
Holder Representative until the Controlling Note Holder has notified each Servicer, Certificate Administrator and Trustee of such
appointment and, if the Controlling Note Holder Representative is not the same Person as the Controlling Note Holder, the Controlling
Note Holder Representative provides each Servicer, Certificate Administrator and Trustee with written confirmation of its acceptance
of such appointment (and such parties will be entitled to rely on such notice), an address and facsimile number for the delivery
of notices and other correspondence and a list of officers or employees of such person with whom the parties to this Agreement
may deal (including their names, titles, work addresses and facsimile numbers). The Controlling Note Holder shall promptly deliver
such information to any Servicer, Certificate Administrator and Trustee. None

 

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 of the Servicers, Certificate Administrator and Trustee
shall be required to recognize any person as a Controlling Note Holder Representative until they receive such information from
the Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current Controlling
Note Holder Representative.

 

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

 

(b)          Each
Non-Controlling Note Holder shall have the right at any time to appoint a representative (other than a Borrower Party) in connection
with the exercise of its rights and obligations with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling
Note Holder Representative”). All of the provisions relating to the Controlling Note Holder and the Controlling Note
Holder Representative set forth in Section 6(a) shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder
Representative mutatis mutandis.

 

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

 

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until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise,
shall be the Initial Note A-2 Holder and the Initial Note A-3 Holder.

 

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

 

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

 

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

 

No objection, consent,
direction or advice contemplated by the preceding paragraphs may, and neither the Master Servicer nor Special Servicer shall take
any action that would (i) require or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision
of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing Agreement, this Agreement, the REMIC Provisions
or the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard, (ii) result in
the

 

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imposition of a tax on any Trust REMIC under the REMIC Provisions or cause any REMIC Pool to fail to qualify as a REMIC or
cause the Grantor Trust to fail to qualify as a grantor trust under subpart E, part I of subchapter J of the Code for federal income
tax purposes, (iii) expose the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor, the
Depositor, the Asset Representations Reviewer, the Trust or the Trustee or any of their respective Affiliates, officers, directors,
shareholders, partners, members, managers, employees or agents to any claim, suit, or liability for which this Agreement or the
Lead Securitization Servicing Agreement does not provide indemnification to such party or expose any such party to prosecution
for a criminal offense, (iii) materially expand the scope of responsibilities of any of the Master Servicer, Special Servicer,
the Certificate Administrator, the Asset Representations Reviewer, the Trustee or the Operating Advisor, as applicable, under this
Agreement or the Lead Securitization Servicing Agreement or (iv) cause the Master Servicer or Special Servicer, as applicable,
to act, or fail to act, in a manner which in the reasonable judgment of the Master Servicer or Special Servicer, as applicable,
is not in the best interests of the Note Holders.

 

Section
7.         Appointment of Special Servicer. Subject to the conditions and requirements set forth in the Lead
Securitization Servicing Agreement, the Controlling Note Holder shall have the right at any time and from time to time, with
or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement
Special Servicer in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling Note Holder
Representative) of a Person to serve as Special Servicer shall be made by delivering to the other Note Holder, the Master
Servicer, the then existing Special Servicer and other parties to the Lead Securitization Servicing Agreement a written
notice stating such designation and satisfying the other conditions to such replacement as set forth in the Lead
Securitization Servicing Agreement (including, without limitation, a Rating Agency Confirmation, but only if required by the
terms of the Lead Securitization Servicing Agreement), and delivering to each Non-Controlling Note Holder a Rating Agency
Confirmation with respect to any rated securities issued and outstanding under the related Securitization, if applicable. The
Controlling Note Holder shall be solely responsible for any expenses incurred in connection with any such replacement without
cause. The Controlling Note Holder shall notify the Non-Controlling Note Holders of its termination of the then
currently serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7.
If the Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation
of the securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the
Lead Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the
Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the
Mortgage Loan as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects a
Non-Controlling Note Holder, such Non-Controlling Note Holder shall have the right to direct the Trustee (or at any time that
the Mortgage Loan is no longer included in a Securitization Trust, the Controlling Note Holder) to terminate the Special
Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage Loan pursuant to and in
accordance with the terms of the Lead Securitization Servicing Agreement. The Note Holders acknowledge and agree that any
successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated
for cause at a Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that
was so terminated without the prior written consent of such

 

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Non-Controlling Note Holder. The Non-Controlling Note Holder that
directs the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling
Note Holder) to terminate the Special Servicer shall be solely responsible for reimbursing the Trustee’s or the
Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the
terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts
on deposit in the Collection Account under the Lead Securitization Servicing Agreement.

 

Section 8.          Payment
Procedure.

 

(a)          The
Lead Securitization Note Holder (or the Master Servicer acting on its behalf), in accordance with the priorities set forth in Section
3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments
allocable to the Notes to the Collection Account and/or Companion Distribution Account pursuant to and in accordance with the Lead
Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall deposit
such amounts to the applicable account within two (2) Business Days after receipt by it of properly identified funds by the Lead
Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower.

 

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

 

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

 

(d)          Each
Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this
Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note

 

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Holder shall have the right to offset any
amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments
due to such Non-Lead Securitization Note Holder under the Mortgage Loan. A Non-Lead Securitization Note Holder’s obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

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

 

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

 

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

 

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hereby agrees that, upon the request of the Lead Securitization Note Holder, such Non-Lead Securitization Note Holder shall
execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and
instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the
foregoing appointment and grant. All actions taken by the Servicer in connection with any Insolvency Proceeding are subject
to and must be in accordance with the Servicing Standard.

 

Section
11.         Representations of the Note Holders. Each Note Holder represents and
warrants that the execution, delivery and performance of this Agreement is within its corporate powers, has been duly
authorized by all necessary corporate action, and does not contravene such Note Holder’s charter or any law or
contractual restriction binding upon such Note Holder, and that this Agreement is the legal, valid and binding obligation of
such Note Holder enforceable against such Note Holder in accordance with its terms, except as such enforcement may be limited
by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’
rights generally, and by general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law), and except that the enforcement of rights with respect to indemnification and
contribution obligations may be limited by applicable law. Each Note Holder represents and warrants that it is duly
organized, validly existing, in good standing and in possession of all licenses and authorizations necessary to carry on its
business. Each Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such Note
Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or
with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement
by such Note Holder have been obtained or made and (c) to such Note Holder’s actual knowledge, there is no pending
action, suit or proceeding, arbitration or governmental investigation against such Note Holder, an adverse outcome of which
would materially and adversely affect its performance under this Agreement.

 

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

 

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

 

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Borrower (each, a “Mortgage Loan
Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan
Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if
this Agreement and the transactions contemplated hereby were not in effect.

 

Section 14.         Sale
of the Notes.

 

(a)          Except
as contemplated by the second following sentence, each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate,
hypothecate, contribute, encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holder shall be provided with
(x) a representation from a transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional
Lender (except in the case of a Transfer in accordance with the immediately following sentence) and (y) a copy of the assignment
and assumption agreement referred to in Section 15. If a Note Holder intends to Transfer its respective Note, or any portion thereof,
to an entity that is not a Qualified Institutional Lender, it must first (a) obtain the consent of each non-transferring Note Holder
and (b) if such non-transferring Note Holder’s Note is held in a Securitization Trust, obtain a Rating Agency Confirmation
from each Rating Agency then rating the securities of such Securitization Trust. Notwithstanding the foregoing, without the non-transferring
Note Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring Note Holder’s
Note is held in a Securitization Trust, until a Rating Agency Confirmation is obtained, no Note Holder shall Transfer all or any
portion of its Note (or a participation interest in such Note) to a Borrower Party and any such Transfer made without the prior
consent of the non-transferring Note Holder and Rating Agency Confirmation (if such non-transferring Note Holder’s Note is
held in a Securitization Trust), shall be absolutely null and void and shall vest no rights in the purported transferee; provided
that for the avoidance of doubt, transfers of any securities backed by a Note held in a Securitization Trust will not be subject
to the foregoing requirement and such transfers shall be governed by the terms of the Lead Securitization Servicing Agreement or
any related Non-Lead Securitization Servicing Agreement, as applicable. The transferring Note Holder agrees that it shall pay the
expenses of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee
and any Controlling Note Holder or Controlling Note Holder Representative) and all expenses relating to any Rating Agency Confirmation
in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without the need to
obtain the consent of the other Note Holder or of any other Person or having to provide any Rating Agency Confirmation, to Transfer
49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in
the case of (1) a sale of all of the Notes together, in accordance with the terms and conditions of the Lead Securitization Servicing
Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing
Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan to a single member
limited liability or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or
more single member limited liability companies or limited partnerships, by the Lead Securitization Trust.

 

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

 

(c)          Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than a Borrower
Party) which has extended a credit facility to such Note Holder and that is either a Qualified Institutional Lender or a financial
institution whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency
(or, if not rated by an applicable Rating Agency, an equivalent or higher rating from any two of Fitch, Moody’s and S&P)
(a “Note Pledgee”), on terms and conditions set forth in this Section 14(c), it being further agreed that a
financing provided by a Note Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note and is
structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee
that is not a Qualified Institutional Lender may not take title to the pledged Note without a Rating Agency Confirmation. Upon
written notice by the applicable Note Holder to any other Note Holder and any Servicer that a Pledge has been effected (including
the name and address of the applicable Note Pledgee), such other Note Holder agrees to acknowledge receipt of such notice and thereafter
agrees: (i) to give Note Pledgee written notice of any default by the pledging Note Holder in respect of its obligations under
this Agreement of which default such Note Holder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days
to cure a default by the pledging Note Holder in respect of its obligations to any other Note Holder hereunder, but such Note Pledgee
shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement
shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably
withheld, conditioned or delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any notice of default
under this Agreement simultaneously with the giving of same to the pledging Note Holder; (v) that such other Note Holder shall
deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s)
shall be in a form reasonably satisfactory to such other Note Holder; and (vi) that, upon written notice (a “Redirection
Notice”) to the other Note Holders and any Servicer by such Note Pledgee that the pledging Note Holder is in default,
beyond any applicable cure periods, under the pledging Note Holder’s obligations to such Note Pledgee pursuant to the applicable
credit agreement between the pledging Note Holder and such Note Pledgee (which notice need not be joined in or confirmed by the
pledging Note Holder), and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be
entitled to receive any payments that any Note Holder or Servicer would otherwise be obligated to pay to the pledging Note Holder
from time to time pursuant to this Agreement or the Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally
and absolutely releases the other Note Holders and any Servicer from any liability to the pledging Note Holder on account of such
other Note Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or such other Note
Holder to have been delivered by a Note Pledgee. A Note Pledgee

 

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shall be permitted to exercise fully its rights and remedies against
the pledging Note Holder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance
with applicable law and this Agreement. In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and
any transferee other than a Borrower Party that is also a Qualified Institutional Lender at any foreclosure or similar sale held
by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note
Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender
shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such Transfer (i.e.,
realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The
rights of a Note Pledgee under this Section 14(c) shall remain effective as to any Note Holder (and any Servicer) unless and until
such Note Pledgee shall have notified any such Note Holder (and any Servicer, as applicable) in writing that its interest in the
pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section
15.       Registration of the Notes and Each Note Holder. The Agent shall keep or
cause to be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the
Notes. The Agent shall serve as the initial note registrar and the Agent hereby accepts such appointment. The names and
addresses of the holders of the Notes and the names

 

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and addresses of any transferee of any Note of which the Agent has
received notice, in the form of a copy of the assignment and assumption agreement referred to in this Section 15, shall be
registered in the Note Register. The Person in whose name a Note is so registered shall be deemed and treated as the sole
owner and holder thereof for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide
such party with the names and addresses of the other Note Holder. To the extent the Trustee or another party is appointed as
Agent hereunder, each Note Holder hereby designates such person as its agent under this Section 15 solely for purposes of
maintaining the Note Register.

 

In connection with any
Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment
and assumption agreement (unless the transferee is a Securitization Trust and the related pooling and servicing agreement
requires the parties thereto to comply with this Agreement), whereby such transferee assumes all of the obligations of the applicable
Note Holder hereunder with respect to such Note thereafter accruing and agrees to be bound by the terms of this Agreement, including
the applicable restriction on Transfers set forth in Section 14, from and after the date of such assignment. No transfer of a Note
may be made unless it is registered on the Note Register, and the Agent shall not recognize any attempted or purported transfer
of any Note in violation of the provisions of Section 14 and this Section 15. Any such purported transfer shall be absolutely null
and void and shall vest no rights in the purported transferee. Each Note Holder desiring to effect such transfer shall, and does
hereby agree to, indemnify the Agent and the other Note Holders against any liability that may result if the transfer is not made
in accordance with the provisions of this Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section
18.       Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in
writing signed by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note
Holders shall not amend or modify this Agreement without first obtaining a Rating Agency Confirmation from each Rating Agency
then rating any securities of any Securitization; provided that no such Rating Agency Confirmation shall be required
in connection with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may be
defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, or (ii) to
make other provisions with respect to matters or questions arising under this Agreement, which shall not be inconsistent with
the provisions of this Agreement.

 

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

 

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

 

Section 21.        Captions. The titles and headings
of the paragraphs of this Agreement have been inserted for convenience of reference only and are not intended to

 

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summarize or otherwise
describe the subject matter of the paragraphs and shall not be given any consideration in the construction of this Agreement.

 

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

 

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

 

Section 24.       Withholding
Taxes. (a) If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required by law to deduct and
withhold Taxes from interest, fees or other amounts payable to a Non-Lead Securitization Note Holder with respect to the Mortgage
Loan as a result of such Non-Lead Securitization Note Holder constituting a Non-Exempt Person, the Lead Securitization Note Holder,
in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead Securitization Note Holder’s interest
in such payment (all withheld amounts being deemed paid to such Note Holder), provided that the Lead Securitization Note
Holder shall furnish such Non-Lead Securitization Note Holder with a statement setting forth the amount of Taxes withheld, the
applicable rate and other information which may reasonably be requested for purposes of assisting such Note Holder to seek any
allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is subject to tax.

 

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

 

(c)          Each
Non-Lead Securitization Note Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrower)
that it is not a Non-

 

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

 

Section
25.        Custody of Mortgage Loan Documents. Prior to the Lead Securitization, the originals of all of the Mortgage
Loan Documents shall be held by the Initial Agent on behalf of the registered holders of the Notes. On and after the closing
of the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than the originals of the Non-Lead
Securitization Notes) shall be held in the name of the Trustee (and held by a duly appointed custodian therefor), in
accordance with the terms of the Lead Securitization Servicing Agreement, on behalf of the registered holders of the Notes;
provided that if the Lead Securitization is not the Note A-1 Securitization, all Mortgage Loan Documents (other than the Note
that is deposited into the Lead Securitization) shall not be recorded or filed to reflect the name of the trustee under the
Lead Securitization Servicing Agreement for such Lead Securitization (except to the extent specifically provided for in the
Lead Securitization Servicing Agreement to the extent Note A-1 is not included in a Securitization within a specified period
of time).

 

Section
26.        Cooperation in Securitization. Each Note Holder acknowledges that any Note Holder may elect, in its sole
discretion, to include its Note in a Securitization. In connection with a Securitization and subject to the terms of the
preceding sentence, at the request of the related Securitizing Note Holder, the related Non-Securitizing Note Holder shall
use reasonable efforts, at such Securitizing Note Holder’s expense, to satisfy, and to cooperate with such Securitizing
Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards to which such Securitizing
Note Holder customarily

 

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adheres or that may be reasonably required in the marketplace or by the Rating Agencies in connection
with such Securitization, including, entering into (or consenting to, as applicable) any modifications to this Agreement or
the Mortgage Loan Documents and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage Loan
Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably requested by
the Rating Agencies to effect such Securitization; provided, that no Non-Securitizing Note Holder shall be required to
modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection
therewith, if such modification or amendment would (i) change the interest allocable to, or the amount of any payments due to
or priority of such payments to, such Non-Securitizing Note Holder or (ii) materially increase such Non-Securitizing Note
Holder’s obligations or materially decrease such Non-Securitizing Note Holder’s rights, remedies or
protections. In connection with any Securitization, each related Non-Securitizing Note Holder shall provide for inclusion in
any disclosure document relating to such Securitization such information concerning such Non-Securitizing Note Holder and its
Note as the related Securitizing Note Holder reasonably determines to be necessary or appropriate, and such Non-Securitizing
Note Holder shall, at such Securitizing Note Holder’s expense, cooperate with the reasonable requests of each Rating
Agency and such Securitizing Note Holder in connection with such Securitization (including, without limitation, reasonably
cooperating with such Securitizing Note Holder (without any obligation to make additional representations and warranties) to
enable such Securitizing Note Holder to make all necessary certifications and deliver all necessary opinions (including
customary securities law opinions) in connection with the Mortgage Loan and such Securitization), as well as in connection
with all other matters and the preparation of any offering documents thereof and to review and respond reasonably promptly
with respect to any information relating to such Note Holder and its Note in any Securitization document. Each Note Holder
acknowledges that in connection with any Securitization, the information provided by it in its capacity as a Non-Securitizing
Note Holder to the related Securitizing Note Holder may be incorporated into the offering documents for such Securitization.
Each Securitizing Note Holder and each Rating Agency shall be entitled to rely on the information supplied by, or on behalf
of, each Non-Securitizing Note Holder.

 

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

 

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

 

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

 

Section 29.        Certain
Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 30.        Reserved.

 

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

 

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this Agreement, and any successor master servicer shall be deemed to have
been automatically appointed as the successor Agent under this Agreement in place thereof without any further notice or other
action.

 

Section
32.        Resizing. Notwithstanding any other provision of this Agreement, for so long as WFB or an affiliate (an
“Original Entity”) is the owner of the Non-Lead Securitization Note (the “Owned Note”),
such Original Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan
Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”)
reallocating the principal of the Owned Note to such New Notes; or severing the Owned Note into one or more further
“component” notes in the aggregate principal amount equal to the then outstanding principal balance of the Owned
Note provided that (i) the aggregate principal balance of all outstanding New Notes following such amendments is no
greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes continue to have the same
weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and on a pari
passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement, (iv)
the Original Entity holding the New Notes shall notify the Lead Securitization Note Holder, the Master Servicer, the
Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal
amounts, and (v) the execution of such amendments and New Notes does not violate the Servicing Standard. If the Lead
Securitization Note Holder so requests, the Original Entity holding the New Notes (and any subsequent holder of such Notes)
shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for
the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in
Section 5), no Note may be modified or amended without the consent of its holder and the consent of the holder of the other
Note. In connection with the foregoing (provided the conditions set forth in (i) through (v) above are satisfied, with
respect to (i) through (iv), as certified by the Original Entity, on which certification the Master Servicer can rely), the
Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on
behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal.
If more than one New Note is created hereunder, for purposes of exercising the rights of a Non-Controlling Note Holder
hereunder, the “Non-Controlling Note Holder” of such New Notes shall be as provided in the definition of such
term in this Agreement.

 

[Signature Page Follows]

 

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

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Initial Agent and Initial Note A-1 Holder, Initial Note A-2 Holder and Initial Note A-3 Holder
	 	 
	 	By:	/s/ John G. Nicol
	 	 	Name: John G. Nicol
Title:  Managing Director

 

(Agreement
Between Note Holders – Fremaux Town Center Mortgage Loan)

 

    S-1

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	Fremaux Town Center SPE, LLC
	Date of Mortgage Loan:	June 9, 2016
	Date of Notes:	June 9, 2016
	Original Principal Amount of Mortgage Loan:	$73,000,000
	Principal Amount of Mortgage Loan as of the date hereof:	$72,276,579
	Initial Note A-1 Principal Balance:	$25,000,000
	Initial Note A-2 Principal Balance:	$30,000,000
	Initial Note A-3 Principal Balance:	$18,000,000
	Location of Mortgaged Property:	Slidell, LA
	Initial Maturity Date:	June 11, 2026

 

    A-1

     

    

 

EXHIBIT B

 

		1.	Initial Note A-1 Holder:

 

Wells Fargo Bank, National Association

375 Park Avenue, 2nd Floor

J0127-023

New York, New York 10152

Attention: A.J. Sfarra

with a copy to:

Jeff D. Blake, Esq.

Senior Counsel

Wells Fargo Law Department

D1053-300

301 South College St.

Charlotte, North Carolina 28288

 

		2.	Initial Note A-2 Holder:

 

Wells Fargo Bank, National Association

375 Park Avenue, 2nd Floor

J0127-023

New York, New York 10152

Attention: A.J. Sfarra

with a copy to:

Jeff D. Blake, Esq.

Senior Counsel

Wells Fargo Law Department

D1053-300

301 South College St.

Charlotte, North Carolina 28288

 

    B-1

     

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

	1.	AllianceBernstein

	2.	Annaly Capital Management

	3.	Apollo Real Estate Advisors

	4.	Archon Capital, L.P.

	5.	AREA Property Partners

	6.	Artemis Real Estate Partners

	7.	BlackRock, Inc.

	8.	Clarion Partners

	9.	Colony Capital, LLC

	10.	DLJ Real Estate Capital Partners

	11.	Dune Real Estate Partners

	12.	Eightfold Real Estate Capital, L.P.

	13.	Five Mile Capital Partners

	14.	Fortress Investment Group, LLC

	15.	Garrison Investment Group

	16.	H/2 Capital Partners LLC

	17.	Hudson Advisors

	18.	Investcorp International

	19.	iStar Financial Inc.

	20.	J.P. Morgan Investment Management Inc.

	21.	JER Partners

	22.	Lend-Lease Real Estate Investments

	23.	Libermax Capital LLC

	24.	LoanCore Capital

	25.	Lone Star Funds

	26.	Lowe Enterprises

	27.	Normandy Real Estate Partners

	28.	Och-Ziff Capital Management Group

	29.	Praedium Group

	30.	Raith Capital Partners, LLC

	31.	Rialto Capital Management LLC

	32.	Rialto Capital Partners LLC

	33.	Rockpoint Group

	34.	Rockwood

	35.	RREEF Funds

	36.	Square Mile Capital Management

	37.	The Blackstone Group

	38.	The Carlyle Group

	39.	Torchlight Investors

	40.	Walton Street Capital, L.L.C.

	41.	Westbrook Partners

	42.	Wheelock Street Capital

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

 

    C-1

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