Document:

Exhibit 4.13

 

EXECUTION
VERSION

 

	 

 

Hilton
Anchorage & Renaissance Atlanta

 

CO-LENDER
AGREEMENT

 

Dated
as of March 23, 2017

 

among

 

RIALTO
MORTGAGE FINANCE, LLC

(Note A-1-A Holder)

and

RIALTO
MORTGAGE FINANCE, LLC

 (Note
A-1-B Holder)

CITIGROUP
GLOBAL MARKETS REALTY CORP.

(Note
A-2 Holder)

and

BARCLAYS
BANK PLC

(Note
A-3-A Holder)

and

BARCLAYS
BANK PLC

(Note
A-3-B Holder) 

	 

 

      

     

    

  

	TABLE
    OF CONTENTS
	 	 	Page
	 	 	 
	1.	Definitions; Conflicts	2
	2.	Servicing of the Mortgage Loan	15
	3.	Priority of Notes	16
	4.	Workout	17
	5.	Accounts; Payment Procedure	17
	6.	Limitation on Liability	18
	7.	Representations of the Holders	18
	8.	Independent Analyses of each Holder	19
	9.	No Creation of a Partnership or Exclusive Purchase
    Right	19
	10.	Not a Security	20
	11.	Other Business Activities of the Holders	20
	12.	Transfer of Notes	20
	13.	Exercise of Remedies by the Servicer	22
	14.	Rights of the Directing Holder	24
	15.	Appointment of Special Servicer	25
	16.	Rights of the Non-Directing Holders	26
	17.	Advances; Reimbursement of Advances	27
	18.	Provisions Relating to Securitization	28
	19.	Governing Law; Waiver of Jury Trial	36
	20.	Modifications	36
	21.	Successors and Assigns; Third Party Beneficiaries	36
	22.	Counterparts	37
	23.	Captions	37
	24.	Notices	37
	25.	Custody of Mortgage Loan Documents	37

 

    -i-

     

    

 

THIS
CO-LENDER AGREEMENT (the “Agreement”), dated as of March 23, 2017, is among RIALTO MORTGAGE FINANCE, LLC,
a Delaware limited liability company (“RMF”), having an address at 600 Madison Avenue, 12th Floor,
New York, New York 10022, as the holder of Note A-1-A (the “Note A-1-A Holder”) and as the holder of Note A-1-B
(the “Note A-1-B Holder”), CITIGROUP GLOBAL MARKETS REALTY CORP., a New York Corporation (“CGMRC”),
having an address at 390 Greenwich Street, 7th Floor, New York, New York 10013, as the holder of Note A-2 (the “Note
A-2 Holder”), and BARCLAYS BANK PLC, having an address at 745 Seventh Avenue, New York, New York 10019 (“Barclays”),
as the holder of Note A-3-A (the “Note A-3-A Holder”) and as the holder of Note A-3-B (the “Note A-3-B
Holder”).

 

W
I T N E S S E T H:

 

WHEREAS,
RMF, CGMRC and Barclays have made a mortgage loan in the original principal amount of $115,000,000 (the “Mortgage Loan”)
to CP Anchorage Hotel 2, LLC, a Delaware limited liability company, and CP Hartsfield, LLC, a Delaware
limited liability company (individually and collectively, the “Borrower”) pursuant to a loan agreement
among the Borrower, as borrower, and RMF, CGMRC and Barclays, as lenders, dated as of March 2, 2017 (the “Loan Agreement”);

 

WHEREAS,
the Mortgage Loan was originally evidenced by three notes, Promissory Note A-1 in the original principal amount of $52,500,000,
Promissory Note A-2 in the original principal amount of $28,000,000 and Promissory Note A-3 in the original principal amount of
$34,500,000 (“Note A-1,” “Note A-2,” and “Note A-3,” respectively, and
individually, each, a “Note” and collectively the “Notes”);

 

WHEREAS,
pursuant to a Note Splitter and Modification Agreement dated as of March 3, 2017 (the “Note Splitter Agreement”)
by and among the Borrower, Columbia Sussex Corporation, CSC Holdings, LLC and the Lenders, Note A-1 was delivered to (or at the
instruction of) the Borrower and the Borrower delivered to RMF two replacement notes: Note A-1-A, with an original principal balance
of $36,000,000 and Note A-1-B, with an original principal balance of $16,500,000;

 

WHEREAS,
pursuant to the Note Splitter Agreement, Note A-3 was delivered to (or at the instruction of) the Borrower and the Borrower delivered
to Barclays two replacement notes: Note A-3-A, with an original principal balance of $23,500,000 and Note A-3-B, with an original
principal balance of $11,000,000;

 

WHEREAS,
the Mortgage Loan is secured by a first mortgage lien (the “Mortgage”) on the real properties known as Hilton
Anchorage & Renaissance Atlanta (the “Mortgaged Properties”);

 

WHEREAS,
RMF intends (but is not bound) to sell, transfer and assign its right, title and interest in and to Note A-1-A to CCRE COMMERCIAL
MORTGAGE SECURITIES, L.P. (“CCRE Depositor”), as depositor, pursuant to a Mortgage Loan Purchase Agreement
by

 

    

     

    

 

and
between CCRE Depositor, as purchaser, and RMF as seller, and CCRE Depositor intends to transfer its right, title and interest
in and to Note A-1-A to a trustee for the CFCRE 2017-C8 Mortgage Trust; provided, however, that RMF may sell, transfer
and assign Note A-1-A to another depositor for deposit into another securitization trust (such sales, transfers and assignments,
the “Note A-1-A Securitization”);

 

WHEREAS,
the Note A-1-B Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-1-B to one or more depositors who will in turn transfer the same to one or more trusts as part of the securitization
of one or more mortgage loans;

 

WHEREAS,
the Note A-2 Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-2 to one or more depositors who will in turn transfer the same to one or more trusts as part of the securitization
of one or more mortgage loans;

 

WHEREAS,
the Note A-3-A Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-3-A to one or more depositors who will in turn transfer the same to one or more trusts as part of the securitization
of one or more mortgage loans;

 

WHEREAS,
the Note A-3-B Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-3-B to one or more depositors who will in turn transfer the same to one or more trusts as part of the securitization
of one or more mortgage loans;

 

WHEREAS,
the parties hereto desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns,
shall hold Note A-1-A, Note A-1-B, Note A-2, Note A-3-A and Note A-3-B respectively; and

 

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

 

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

 

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

 

    -2- 

     

    

 

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loan or the Mortgaged Property
pursuant to the Note A-1-A PSA, the Note A-1-B PSA, the Note A-2 PSA, the Note A-3-A PSA or the Note A-3-B PSA.

 

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

 

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

 

“Barclays”
shall mean Barclays Bank PLC and its successors in interest.

 

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

 

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

 

“CCRE
Depositor” shall mean CCRE Commercial Mortgage Securities, L.P. and its successors in interest.

 

“CGMRC”
shall mean Citigroup Global Markets Realty Corp. and its successors in interest.

 

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

 

“Certificates”
shall mean any securities issued in connection with the Note A-1-A Securitization, the Note A-1-B Securitization, the Note A-2
Securitization, the Note A-3-A Securitization or the Note A-3-B Securitization.

 

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

 

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

 

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

 

    -3- 

     

    

 

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

 

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

 

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

 

“Depositor”
shall mean (i) with respect to the Note A-1-A Securitization, the depositor under the Note A-1-A PSA, (ii) with respect to the
Note A-1-B Securitization, the depositor under the Note A-1-B PSA, (iii) with respect to the Note A-2 Securitization, the depositor
under the Note A-2 PSA, (iv) with respect to the Note A-3-A Securitization, the depositor under the Note A-3-A PSA and (v) with
respect to the Note A-3-B Securitization, the depositor under the Note A-3-B PSA.

 

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

 

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

 

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

 

“Excluded
Amounts” shall mean:

 

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

 

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

 

(iii)     amounts
that are then due and payable pursuant to the Servicing Agreement to the parties to the Servicing Agreement, including, without
limitation, Servicing Fees, Special Servicing Fees, Liquidation Fees, Workout

 

    -4- 

     

    

 

Fees,
as applicable, reimbursement of costs and expenses, reimbursement of Property Advances and interest thereon at the Reimbursement
Rate;

 

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

 

“First
Securitization” shall mean the first Securitization into which a Note is deposited.

 

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

 

“Holder”
shall mean the Note A-1-A Holder, the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder and/or the Note A-3-B Holder,
as the context indicates.

 

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

 

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

 

“Lead
Note” shall mean (a) during the period from and after the First Securitization of a Non-Lead Note, the related Note
or portion thereof contributed to the First Securitization, and (b) on and after the Securitization of Note A-1-A, Note A-1-A.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -5- 

     

    

 

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

 

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

 

“Master
Servicer Remittance Date” shall mean:

 

(i)        with
respect to Note A-1-A, the “master servicer remittance date” as such term or a similar term is defined in the Lead
Securitization PSA;

 

(ii)       with
respect to Note A-1-B, the “master servicer remittance date” as such term or a similar term is defined in the Lead
Securitization PSA (or, from and after the Note A-1-B Securitization Date, the earlier of the “master servicer remittance
date,” as such term or a similar term is defined in the Lead Securitization PSA or the first Business Day after the “determination
date,” as such term or a similar term is defined in the Note A-1-B PSA);

 

(iii)     with
respect to Note A-2, the “master servicer remittance date” as such term or a similar term is defined in the Lead Securitization
PSA (or, from and after the Note A-1-A Securitization Date, the earlier of the “master servicer remittance date,”
as such term or a similar term is defined in the Lead Securitization PSA or the first Business Day after the “determination
date,” as such term or a similar term is defined in the Note A-2 PSA);

 

(iv)     with
respect to Note A-3-A, the “master servicer remittance date” as such term or a similar term is defined in the Lead
Securitization PSA (or, from and after the Note A-3-A Securitization Date, the earlier of the “master servicer remittance
date,” as such term or a similar term is defined in the Lead Securitization PSA or the first Business Day after the “determination
date,” as such term or a similar term is defined in the Note A-3-A PSA); and

 

(v)      with
respect to Note A-3-B, the “master servicer remittance date” as such term or a similar term is defined in the Lead
Securitization PSA (or, from and after the Note A-3-B Securitization Date, the earlier of the “master servicer remittance
date,” as such term or a similar term is defined in the Lead Securitization PSA or the first Business Day after the “determination
date,” as such term or a similar term is defined in the Note A-3-B PSA).

 

Provided,
however, that in no event may any such “determination date” occur prior to the sixth day of each month, or,
if such sixth day is not a Business Day, the next succeeding Business Day.

 

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

 

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

 

    -6- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Directing
Holder” shall mean the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder and the Note A-3-B Holder, or,
if the applicable Note is included in a Securitization, holders of Certificates representing the specified interest in the class
of Certificates designated as the “controlling class” or the duly appointed representative of the holders of such
Certificates or such other party otherwise entitled under the Note A-1-B PSA, the Note A-2 PSA, the Note A-3-A PSA and the Note
A-3-B PSA to exercise the rights granted to the Non-Directing Holders in this Agreement.

 

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

 

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

 

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

 

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

 

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

 

    -7- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
A-2 Holder” shall mean CGMRC or any subsequent holder of Note A-2.

 

    -8- 

     

    

 

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

 

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

 

“Note
A-2 Securitization” shall mean the first sale by the Note A-2 Holder of all or any portion of Note A-2 to a depositor
who will in turn include all or such portion (as applicable) 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-A” shall have the meaning assigned to such term in the recitals.

 

“Note
A-3-A Holder” shall mean Barclays or any subsequent holder of Note A-3-A.

 

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

 

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

 

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

 

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

 

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

 

“Note
A-3-B Holder” shall mean Barclays or any subsequent holder of Note A-3-B.

 

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

 

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

 

    -9- 

     

    

 

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

 

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

 

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

 

“P&I
Advance” shall mean an advance made by a party to the Note A-1-A PSA, the Note A-1-B PSA, the Note A-2 PSA, the Note
A-3-A PSA or the Note A-3-B PSA, as applicable, with respect to a delinquent monthly debt service payment on the Notes included
in the related Securitization.

 

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

 

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

 

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

 

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

 

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

 

“PSA”
means any of the Note A-1-A PSA, the Note A-1-B PSA, the Note A-2 PSA, the Note A-3-A PSA and the Note A-3-B PSA.

 

    -10- 

     

    

 

“Qualified
Servicer” shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,”
in the case of a special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the S&P
Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable,
(3) as to which neither Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor in
any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings
downgrade or withdrawal) of securities in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by
such servicer prior to the time of determination, (4) that (i) is then acting as master servicer or special servicer, as applicable,
in a commercial mortgage loan securitization rated by Morningstar and (ii) Morningstar has not qualified, downgraded or withdrawn
the then-current rating or ratings of one or more classes of such certificates citing servicing concerns with the servicer or
special servicer, as applicable, as the sole or material factor in such rating action and (5) in the case of DBRS, such servicer
is then acting as servicer or special servicer, as applicable, in a commercial mortgage loan securitization 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 servicer as servicer or special servicer, as applicable,
of such commercial mortgage securities as a material reason for such downgrade or withdrawal. For purposes of this definition,
for so long as any Note is included in a Securitization, the ratings or actions of any Rating Agency that is not rating any such
Securitization(s) shall not be considered.

 

“Qualified
Transferee” shall mean any of RMF, CGMRC or Barclays (or an Affiliate of any such entity) or an Affiliate of the Note
A-1-A Holder, the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder or the Note A-3-B Holder, or one or more of the
following (other than a Borrower or any entity which is an Affiliate of a Borrower):

 

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

 

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

 

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

 

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

 

(v)      a
Qualified Trustee (or, in the case of a CLO, a single purpose bankruptcy-remote entity that contemporaneously pledges its interest
in a Note to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation of collateralized loan obligations
(“CLO”) secured by, or (C) a financing through an

 

    -11- 

     

    

 

“owner
trust” of, any interest in a Note (any of the foregoing, a “Securitization Vehicle”), provided
that either (1) one or more classes of securities issued by such Securitization Vehicle is initially rated at least investment
grade by at least two of the Rating Agencies that also assigned a rating to one or more classes of securities issued in connection
with the Securitization of a Note; (2) the special servicer for the Securitization Vehicle is a Qualified Servicer at the time
of transfer; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each Intervening
Trust Vehicle that is not administered and managed by a CLO Asset Manager that is a Qualified Transferee, is a Qualified Transferee
under clause (i), (ii), (iii) or (iv) of this definition; or

 

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

 

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

 

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

 

“Rating
Agencies” shall mean DBRS, 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 any Holder to rate the securities issued in connection with the
Securitization of the related Note; provided, however, that, unless specified otherwise, at any time during which
any Note is an asset of a Securitization, “Rating Agencies” or “Rating Agency” shall mean
only those rating agencies that are engaged by the applicable Depositor from time to time to rate the securities issued in connection
with such Securitization.

 

“Rating
Agency Confirmation” shall mean each of the applicable Rating Agencies shall have confirmed in writing that the occurrence
of the event with respect to which such Rating Agency Confirmation is sought shall not result in a downgrade, qualification or
withdrawal of the applicable rating or ratings ascribed by such Rating Agency to any of the

 

    -12- 

     

    

 

Certificates
then outstanding. In the event that no Certificates are outstanding, any action that would otherwise require a Rating Agency Confirmation
shall require the consent of the Designated Holder, which consent shall not be unreasonably withheld, conditioned or delayed.

 

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

 

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

 

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

 

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

 

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

 

“RMF”
shall mean Rialto Mortgage Finance, LLC and its successors in interest.

 

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

 

“Securitization”
shall mean the Note A-1-A Securitization, the Note A-1-B Securitization, the Note A-2 Securitization, the Note A-3-A Securitization
and/or the Note A-3-B Securitization, as applicable.

 

“Securitization
Date” shall mean the closing date of the Securitization, as applicable.

 

“Servicer”
shall mean (i) the Master Servicer with respect to a non-Specially Serviced Mortgage Loan and the Special Servicer with respect
to a Specially Serviced Mortgage Loan, or (ii) with respect to a specific function, right or obligation as to which the Servicing

 

    -13- 

     

    

 

Agreement
designates the Master Servicer or the Special Servicer, the party so designated, as applicable, pursuant to the Servicing Agreement.

 

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

 

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

 

“Servicing
Fee Rate” shall have the meaning applied to such term in the Servicing Agreement, being the rate per annum which, when
applied to the Mortgage Loan Principal Balance (which may be a different rate with respect to each of the Notes), will determine
the servicing fee payable to the Master Servicer under the Servicing Agreement; provided that such Servicing Fee Rate shall be
fixed prior to the pricing of the first Securitization and under no circumstances shall the Servicing Fee Rate exceed 0.0025%
per annum.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Trustee”
shall mean the trustee under any PSA, as the context requires.

 

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

 

    -14- 

     

    

 

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

 

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

 

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

 

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

 

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

 

(f)      If
any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding:   (i) the Mortgage
Loan shall be

 

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

 

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

 

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

 

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

 

4.       Workout. Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and Section 13
of this Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead Note Holder, or any Servicer,
in connection with a workout or proposed workout of the Mortgage

 

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Loan,
modifies the terms thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest Rate is
reduced, (iii) payments of interest or principal on any Note is 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 Note A-1-A, Note A-1-B, Note A-2, Note A-3-A and Note A-3-B
as described in Section 3.

 

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

 

If
any Servicer holding or having distributed any amount received or collected in respect of any Note determines, or a court of competent
jurisdiction orders, at any time that any amount received or collected in respect of any such Note must, pursuant to any insolvency,
bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1-A Holder, the
Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder, the Note A-3-B Holder or any Servicer or paid to any other Person,
then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to
the Note A-1-A Holder, the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A or the Note A-3-B Holder, as applicable, and
any such Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore
distributed to such Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been
required to pay to the Borrower, any Holder, any Servicer or such other person or entity with respect thereto. Each of the Holders
agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess
of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have
the right to offset any amounts due hereunder from such Holder, as applicable, with respect to the Mortgage Loan, against any
future payments due such Holder, as applicable, under the Mortgage Loan, provided, that the obligations of each Holder
under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce
the obligations of any Holder against any other Holder. The obligations of each Holder under this Section 5 constitute
absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.

 

    -17- 

     

    

 

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

 

7.       Representations
of the Holders. (a) Each of the Holders hereby represents and warrants to, and covenants with each other Holder that,
as of the date hereof (or, in connection with a new Holder of a Note following a Transfer, as of the date of such Transfer):

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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(viii)  It
is a Qualified Transferee.

 

8.       Independent
Analyses of each Holder. Each Holder acknowledges that, except for the representations made in Section 7, it has,
independently and without reliance upon any other Holders and based on such documents and information as such Holder has deemed
appropriate, made its own credit analysis and decision to purchase its respective Note. Each Holder hereby acknowledges that the
other Holders shall have no responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability
or legal effect of any of the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to
be furnished in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the
lien created or to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. Each Holder assumes
all risk of loss in connection with its respective Note for reasons other than gross negligence, willful misconduct or breach
of this Agreement by any other Holder or negligence, willful misconduct or bad faith by any Servicer, subject to the terms of
the Servicing Agreement.

 

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

 

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

 

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

 

12.     Transfer
of Notes.   (a) Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its Note
whether or not the related transferee is a Qualified Transferee without a Rating Agency Confirmation. Each Holder shall not Transfer
more than 49% (in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization of any Note, the
other Holders have consented to such Transfer, in which case the related transferee

 

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

 

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

 

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

 

(d)     Notwithstanding
anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”) its Note to any
entity (other than a Borrower or any Affiliate of a Borrower) that has extended a credit facility to such Holder or has entered
into a repurchase agreement with such Holder and that, in each case, is either a Qualified Transferee or a financial institution
whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency (a “Note
Pledgee”), or to a Person with respect to which a Rating Agency Confirmation has been obtained, on terms and conditions
set forth in this Section 12(d), it being further agreed that a financing provided by a Note Pledgee to any Holder or any
Affiliate that controls such Holder that is secured by such Holder’s interest in its respective Note and is structured as
a repurchase arrangement, shall qualify as a “Pledge” hereunder on the condition that all applicable terms and conditions
of this Section 12 are complied with. A Note Pledgee that is not a Qualified Transferee may not take title to a Note without
a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder to the other Holders and the Servicer that a
Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Holders agree to acknowledge
receipt of

 

    -20- 

     

    

 

such
notice and thereafter agree: (i) to give such Note Pledgee written notice of any default by the pledging Holder in respect of
its obligations under this Agreement of which default such Holder has actual knowledge and which notice shall be given simultaneously
with the giving of such notice to the pledging Holder; (ii) to allow such Note Pledgee a period of ten (10) Business Days to cure
a default by the pledging Holder in respect of its obligations to the other Holders hereunder, but such Note Pledgee shall not
be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement or the Servicing
Agreement (if the pledging Holder had the right to consent to such amendment, modification, waiver or termination pursuant to
the terms hereof) shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent
shall not be unreasonably withheld, conditioned or delayed and which consent shall be deemed to be given if Note Pledgee shall
fail to respond to any request for consent to any such amendment, modification, waiver or termination within 10 days after request
therefor; (iv) that the other Holders shall accept any cure by such Note Pledgee of any default of the pledging Holder which such
pledging Holder has the right to effect hereunder, as if such cure were made by such pledging Holder; (v) that the other Holders
or Servicer shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided
that any such certificate(s) shall be in a form reasonably satisfactory to the other Holders; and (vi) that, upon written notice
(a “Redirection Notice”) to the Servicer by such Note Pledgee that the pledging Holder is in default beyond
any applicable cure periods with respect to the pledging Holder’s obligations to such Note Pledgee pursuant to the applicable
credit agreement or other agreements relating to the Pledge between the pledging Holder and such Note Pledgee (which notice need
not be joined in or confirmed by the pledging Holder), and until such Redirection Notice is withdrawn or rescinded by such Note
Pledgee, Note Pledgee (or at any time that pledging Holder otherwise directs that such payment be made to Note Pledgee pursuant
to a separate notice) shall be entitled to receive any payments that any Servicer would otherwise be obligated to make to the
pledging Holder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Holder hereby unconditionally
and absolutely releases the other Holders and any Servicer from any liability to the pledging Holder on account of any Holder’s
or Servicer’s compliance with any Redirection Notice believed by any Servicer or other Holders in good faith to have been
delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Holder
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law, the pledge agreement,
repurchase agreement or similar agreement between the pledging Holder and the Note Pledgee and this Agreement. In such event,
or if the pledging holder otherwise assigns its interests to the Note Pledgee, the other Holders and the Servicer shall recognize
such Note Pledgee (and any transferee (other than a Borrower or any Affiliate of a Borrower) that is also a Qualified Transferee
at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and such Person’s
successor and assigns, as the successor to the pledging Holder’s rights, remedies and obligations under this Agreement,
and any such Note Pledgee or Qualified Transferee shall assume in writing the obligations of the pledging Holder hereunder accruing
from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the
terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d) shall remain effective as
to any Holder (and any Servicer) unless and until such Note Pledgee shall have notified such

 

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Holder
(and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(d)     Notwithstanding
anything to the contrary contained herein, the exercise by the Servicer on behalf of the Holders of its rights under this Section
13 shall be subject in all respects to any section of the Servicing Agreement governing REMIC administration, and in no event
shall the Servicer be permitted to take any action or refrain from taking any action if taking or failing to take such action,
as the case may be, would violate the laws of any

 

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applicable
jurisdiction, breach the Mortgage Loan Documents or be inconsistent with the Servicing Standard or violate any other provisions
of the Servicing Agreement or violate the REMIC provisions of the Code or any regulations promulgated thereunder, including, without
limitation, the provisions of Section 2(f) of this Agreement.

 

14.     Rights
of the Directing Holder. (a) The Directing Holder shall be entitled to exercise the rights and powers granted to the
Directing Holder hereunder and the rights and powers granted to the “Directing Holder,” “Controlling Class Certificateholder,”
“Controlling Class Representative” or similar party under, and as defined in, the Servicing Agreement with respect
to the Mortgage Loan. In addition, the Directing Holder shall be entitled to advise (1) the Special Servicer with respect to all
matters related to a Specially Serviced Mortgage Loan and (2) the Special Servicer with respect to all matters for which the Master
Servicer must obtain the consent or deemed consent of the Special Servicer, and, except as set forth below (i) the Master Servicer
shall not be permitted to take any Major Action unless it has obtained the prior written consent of the Special Servicer and (ii)
the Special Servicer shall not be permitted to consent to the Master Servicer’s taking any Major Action nor will the Special
Servicer itself be permitted to take any Major Action as to which the Directing Holder has objected in writing within ten (10)
Business Days (or 30 days with respect to an Acceptable Insurance Default) after receipt of the written recommendation and analysis
and such additional information requested by the Directing Holder as may be necessary in the reasonable judgment of the Directing
Holder in order to make a judgment with respect to such Major Action. The Directing Holder may also direct the Special Servicer
to take, or to refrain from taking, such other actions with respect to the Mortgage Loan as the Directing Holder may deem advisable,
subject to the terms of the Servicing Agreement.

 

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

 

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

 

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

 

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Servicer
or the Special Servicer to liability, or materially expand the scope of the Master Servicer’s or the Special Servicer’s
responsibilities under the Servicing Agreement.

 

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

 

The
Holders acknowledge that the Servicing Agreement may contain certain provisions that give any operating advisor certain non-binding
consultation rights with respect to Major Actions.

 

15.     Appointment
of Special Servicer. Subject to the terms of the Servicing Agreement, the Directing Holder shall have the right at any
time and from time to time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan
and appoint a Qualified Servicer as the replacement Special Servicer in lieu thereof. The Directing Holder shall designate a Person
to serve as Special Servicer by delivering to the other Holders and the parties to the Note A-1-A PSA, the Note A-1-B PSA, the
Note A-2 PSA, the Note A-3-A PSA and the Note A-3-B PSA a written notice stating such designation and by satisfying the other
conditions required under the Servicing Agreement (including, without limitation, a Rating Agency Confirmation, if required by
the terms of the Servicing Agreement), if any.

 

The
Directing Holder agrees and acknowledges that prior to the Note A-1-A Securitization, if the Note A-2 PSA is the Lead Securitization
PSA, the Special Servicer could be terminated under the Note A-2 PSA in connection with a “servicer termination event”
(or analogous event) thereunder, or otherwise based on a recommendation by the operating advisor under the Note A-2 PSA if the
operating advisor determines, in its sole discretion exercised in good faith, that (1) the Special Servicer has failed to comply
with the Servicing Standard and (2) a replacement of the Special Servicer would be in the best interest of the holders of Certificates
issued under the Note A-2 PSA (as a collective whole) and an affirmative vote of requisite certificate holders is obtained. The
Directing Holder will retain its right to remove and replace the Special Servicer, but the Directing Holder may not restore a
Special Servicer that has been removed in accordance with the preceding sentence.

 

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

 

(i)      to
provide copies of the same notices, information and reports that it is required to provide to the Directing Holder pursuant to
the Servicing Agreement with respect to any Major Actions or the implementation of any recommended actions outlined in an Asset
Status Report relating to the Mortgage Loan to the Non-Directing Holders (but without regard to whether or not the Directing Holder
actually has lost any rights to receive such information as a result of a Consultation Termination Event), within the same time
frame as specified with respect to the Directing Holder (but without regard to whether or not the Directing Holder actually has
lost any rights to receive such information as a result of a Consultation Termination Event), provided, however,
that if Note A-1-B, Note A-2, Note A-3-A or Note A-3-B has been included in a Securitization transaction, then for any information
for which the Special Servicer would be required to provide to such Non-Directing Holder, the Special Servicer shall provide such
notice to the master servicer of the other Securitization transaction, who shall forward such notice as and when required under
the terms of the related Securitization documents; and

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(d)     The
parties to each PSA shall each be entitled to make their own recoverability determination with respect to a P&I Advance based
on the information that they have on hand and in accordance with such applicable PSA.

 

(e)     If
the Lead Servicer or the related Trustee elects to defer the reimbursement of a Property Advance in accordance with the terms
of the Servicing

 

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Agreement,
the Lead Servicer or the related Trustee shall also defer its reimbursement of each Non-Lead Note share from the Non-Lead Note
Holders.

 

18.     Provisions
Relating to Securitization.

 

(a)
New Notes. For so long as any Note Holder is the holder of a Note that is not included in a Securitization, such Note Holder shall
have the right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes
(“Amended Notes”) or additional notes (“New Notes”) reallocating the principal of the Note
or Notes that it owns (but in no case any Note that it does not then own) among Amended Notes and New Notes or severing a Note
into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal
balance of the Note or Notes being amended or created, provided that (i) the aggregate principal balance of the Amended
Notes and New Notes following such amendments is no greater than the principal balance of the Amended Notes and New Notes prior
to such amendments, (ii) all New Notes continue to have the same interest rate as the Amended Note of which it was a part prior
to such amendments, (iii) all New Notes pay pro rata and on a pari passu basis with the Amended Notes and such reallocated
or component notes shall be automatically subject to the terms of this Agreement and (iv) the Note Holder holding the New Notes
shall notify each other Holder, as applicable, and, if any other Note has been included in a securitization, the parties under
each applicable PSA, in writing (which may be by email) of such modified allocations and principal amounts. In connection with
the foregoing, (1) the Master Servicer is hereby authorized to execute amendments to the Loan Agreement and this Agreement (or
to amend and restate the Loan Agreement and this Agreement) on behalf of any or all of the Holders solely for the purpose of reflecting
such reallocation of principal or such severing of a Note, (2) if a Note is severed into “component” notes, such component
notes shall each have their same rights as the respective original Note, (3) the definition of the term “Securitization”
and all of the related defined terms may be amended (and new terms added, as necessary) to reflect the New Notes and (4) if Note
A-1 is severed into “component” notes, another note (or one of the New Notes) may be substituted for Note A-1 in the
definition of “Designated Holder” and “Directing Holder” and the definitions of “Lead Note”
and “Lead Securitization” and “Non-Directing Holder” will be revised accordingly. Neither Rating Agency
Confirmation nor approval of the Directing Holder shall be required for any amendments to this Agreement required to facilitate
the terms of this Section 18(a). The Note Holder whose Note is being reallocated or split pursuant to this Section 18(a)
shall reimburse the other Holders for all costs and expenses incurred by the other Holders in connection with the reallocation
or split.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(d)     The
Lead Securitization PSA shall:

 

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

 

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

 

(iii)    provide
that the Master Servicer shall remit all payments received (or advanced) with respect to any Non-Lead Note (other than any Non-Lead
Note deposited into the Lead Securitization as to which payments shall be applied as provided in the Servicing Agreement), net
of its Servicing Fee (calculated at the “primary servicing fee rate” as set forth in the Servicing Agreement) and
any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the Non-Lead
Holder on the applicable Master Servicer Remittance Date;

 

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

 

(v)     provide
that the Master Servicer, any primary servicer, the Special Servicer and the Trustee for the Lead Securitization, certificate
administrator or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required
to cause each other servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation
AB) retained or engaged by it to deliver), to the parties to any Non-Lead Servicing Agreement, at its own expense, in a timely
manner, the reports, certifications, compliance statements, accountants’ assessments and attestations, information to be
included in reports (including, without

 

    -30- 

     

    

 

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

 

(vi)    each
of the Master Servicer, the Special Servicer, the custodian and the Trustee and each Affected Reporting Party (or analogous term)
for the Lead Securitization shall cooperate (and require each servicing function participant and additional servicer retained
by it to cooperate under the applicable sub-servicing Agreement), with the Depositor of each Non-Lead Securitization to the same
extent as such party is required to cooperate with the Depositor of the Lead Securitization under the Reporting Article of the
Lead Securitization PSA in connection with the reporting requirements under the Securities Act of 1933, as amended, the Securities
Exchange Act of 1934, as amended, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder. All respective
reasonable out-of-pocket costs and expenses incurred by each Depositor of a Non-Lead Securitization (including reasonable legal
fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses
related to participation by such Depositor in any telephone conferences and meetings with the United States Securities and Exchange
Commission (the “Commission”) and other costs such Depositor must bear pursuant to the Reporting Article of
the Lead Securitization PSA) and any amendments to any reports filed with the

 

    -31- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(xiii)  provide
that, in connection with (A) any amendment of the Servicing Agreement, a party to such Servicing Agreement is required to provide
a copy of the

 

    -32- 

     

    

 

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

 

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

 

(xv)   provide
that if a Non-Lead Note becomes the subject of an “asset review” under a Non-Lead Servicing Agreement, the applicable
parties to the Servicing Agreement are required to reasonably cooperate with the related asset representations reviewer or other
applicable party to such Non-Lead Servicing Agreement in connection with such asset review, including with respect to providing
access to related underlying documents to the extent the asset representations reviewer or such other applicable party to the
Non-Lead Servicing Agreement has not obtained such documents from the entity that was the Non-Lead Note Holder prior to transfer
of the Non-Lead Note to a Securitization and such documents are in the possession of the applicable party to the Servicing Agreement;

 

(xvi)  provide
that the Non-Lead Note Holders shall be entitled to the same indemnity as the Lead Note Holder under the Lead Securitization PSA
with respect to the following items; each of the Master Servicer, the Special Servicer, the Trustee, the certificate administrator,
the operating advisor, and the custodian shall be required to indemnify each certifying person and the Depositor under any Non-Lead
Servicing

 

    -33- 

     

    

 

Agreement,
and their respective directors and officers and controlling persons, to the same extent that they indemnify the Depositor of the
Lead Securitization (in its capacity as such) and each certifying person for (i) its failure to deliver the items in clauses (v)
and (xiii) above in a timely manner, (ii) its failure to perform its obligations to such Depositor of a Non-Lead Securitization
or Trustee of a Non-Lead Securitization under the Reporting Article (or any article substantially similar thereto) of the Lead
Securitization PSA by the time required after giving effect to any applicable grace period or cure period, (iii) the failure of
any servicer or servicing function participant retained by it to perform its obligations to such Depositor of a Non-Lead Securitization
or Trustee of a Non-Lead Securitization under such the Reporting Article (or any article substantially similar thereto) of the
Lead Securitization PSA by the time required and/or (iv) any deficient Securities Exchange Act of 1934 report regarding, and delivered
by or on behalf of, such party;

 

(xvii) each
of the Master Servicer, the Special Servicer, the operating advisor, the custodian, the certificate administrator and the Trustee
of the Lead Securitization PSA shall (i) with respect to any initial sub-servicer engaged by it that is a servicing function participant
or additional servicer, use commercially reasonable efforts to cause such party to, and (ii) with respect to each other additional
servicer and each servicing function participant with which, in each case, it has entered into a servicing relationship with respect
to the Mortgage Loans, cause such party to, comply with the foregoing Section 18 (d)(xvi) by inclusion of similar provisions in
the related sub-servicing or similar agreement;

 

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

 

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

 

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

 

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

 

    -34- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -35- 

     

    

 

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

 

25.     Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Notes) will
be held by the Trustee (or by a custodian on its behalf) of the Note A-1-A Securitization under the terms of the Note A-1-A PSA
on behalf of all of the Holders; provided that if the Note A-1-A Securitization is not the First Securitization, the originals
of all of the Mortgage Loan Documents (other than the Notes not deposited in the First Securitization) will be held by the Trustee
(or by a custodian on its behalf) for the First Securitization, until the Note A-1-A Securitization Date, at which time the originals
of all the Mortgage Loan Documents (other than the Notes not included in the Note A-1-A Securitization) will be transferred to
and held by the Note A-1-A Trustee on behalf of all of the Holders. Unless required pursuant to the PSA for the First Securitization,
the Mortgage Loan Documents (other than the Note that is deposited into the First Securitization) shall not be required to be
recorded or filed to reflect the name of the Trustee under the PSA for the First Securitization.

 

[NO
FURTHER TEXT ON THIS PAGE]

 

    -36- 

     

    

 

IN
WITNESS WHEREOF, each of the Note A-1-A Holder, the Note A-1-B Holder, the Note A-2 Holder, the Note A-3-A Holder and the Note
A-3-B Holder has caused this Agreement to be duly executed as of the day and year first above written.

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

 

     

     

    

	 	 	 
	 	Note
A-2 Holder:
	 	 
	 	CITIGROUP
GLOBAL MARKETS REALTY CORP.
	 	 	 
	 	By: 	/s/Ana Rosu Marmann
	 	 	Name:  Ana Rosu Marmann
Title:  Authorized Signatory

 

CO-LENDER
AGREEMENT – Hilton Anchorage & Renaissance Atlanta 

 

     

     

    

 

	 	 	 
	 	Note
A-3-A Holder and Note A-3-B Holder:
	 	 
	 	BARCLAYS
BANK PLC
	 	 	 
	 	By: 	/s/Michael Birajiclian
	 	 	Name:  Michael Birajiclian
Title:  Authorized Signatory

 

     

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

A.      Description
of Mortgage Loan

 

	Borrowers:	CP
                                         Anchorage Hotel 2, LLC

        

        CP
Hartsfield, LLC 

	Mortgage
    Loan Origination Date:	March
    2, 2017
	Initial
    Principal Amount of Mortgage Loan:	$115,000,000
	Locations
    of Mortgaged Properties:	Anchorage,
                                         Alaska

        

        Atlanta,
        Georgia

        

	Current
    Use of Mortgaged Properties:	Hotels
	Mortgage
    Interest Rate:	Note
                                         A-1-A:      5.73%

        

        Note
        A-1-B:      5.73%

        

        Note
        A-2:          5.73%

        

        Note
        A-3-A:      5.73%

        

        Note
        A-3-B:      5.73%

        

	Maturity
    Date:	March
    6, 2027

 

    A-4 

     

    

 

B.       Description
of Notes

 

	Mortgage
    Loan Origination Date:	March
    2, 2017
	Initial
    Note A-1-A Principal Balance:	$36,000,000
	Initial
    Note A-1-B Principal Balance:	$16,500,000
	Initial
    Note A-2 Principal Balance:	$28,000,000
	Initial
    Note A-3-A Principal Balance:	$23,500,000
	Initial
    Note A-3-B Principal Balance:	$11,000,000
	Initial
    Note A-1-A Percentage Interest:	31.304348%
	Initial
    Note A-1-B Percentage Interest:	14.347826%
	Initial
    Note A-2 Percentage Interest:	24.347826%
	Initial
    Note A-3-A Percentage Interest:	20.434783%
	Initial
    Note A-3-B Percentage Interest:	9.565217%
	Note
    A-1-A Interest Rate:	5.73%
	Note
    A-1-B Interest Rate:	5.73%
	Note
    A-2 Interest Rate:	5.73%
	Note
    A-3-A Interest Rate:	5.73%
	Note
    A-3-B Interest Rate:	5.73%
	Note
    A-1-A Default Interest Rate:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-1-A Interest Rate
	Note
    A-1-B Default Interest Rate:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-1-B Interest Rate
	Note
    A-2 Default Interest Rate:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-2 Interest Rate
	Note
    A-3-A Default Interest Rate:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-3-A Interest Rate
	Note
    A-3-B Default Interest Rate:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-3-B Interest Rate

 

    A-5 

     

    

 

EXHIBIT
B

 

Note
A-1-A Holder and Note A-1-B:

 

Rialto
Mortgage Finance, LLC

600 Madison Avenue, 12th Floor

New York, New York 10022

Attention: Andrew Snow

andrew.snow@rialtocapital.com

 

with
a copy to:

Cadwalader,
Wickersham & Taft LLP

One
World Financial Center

New
York, New York 10281

Attention:
Frank Polverino

Facsimile No: (212) 504-6666

frank.polverino@cwt.com

 

Note
A-2 Holder:

 

Citigroup
Global Markets Realty Corp.

390
Greenwich Street, 7th Floor

New
York, New York 10013

Attention
: Ana Rosu Marmann

Facsimile
No.: (646) 328-2938

ana.rosu@citi.com

 

with
a copy to:

 

Sidley
Austin LLP

787
Seventh Avenue

New
York, New York 10019

Attention:
Joseph Kelly and Charles Schrank

Facsimile
No. (212) 839-5599

jkelly@sidley.com;
cschrank@sidley.com

 

Note
A-3-A Holder and Note A-3-B Holder:

 

Barclays
Bank PLC

745
Seventh Avenue

New
York, New York 10019

Attention
: Michael S. Birajiclian

Facsimile
No.: (646) 531-5391

 

    B-1 

     

    

 

michael.birajiclian@barclays.com

 

with
a copy to:

 

Reed
Smith LLP

599
Lexington Avenue

New
York, New York 10022-7650

Attention:
Jodi Schwimmer

Facsimile
No. (212) 521-5450

jschwimmer@reedsmith.com

 

    B-2 

     

    

 

EXHIBIT
C

 

PERMITTED
FUND MANAGERS

 

Westbrook
Partners

iStar
Financial Inc.

Capital
Trust

Archon
Capital, L.P.

Whitehall
Street Real Estate Fund, L.P.

The
Blackstone Group

Normandy
Real Estate Partners

Dune
Real Estate Partners

AllianceBernstein

Rockwood

RREEF
Funds

Hudson
Advisors

Artemis
Real Estate Partners

Apollo
Real Estate Advisors

Colony
Capital, Inc.

Praedium
Group

Fortress
Investment Group, LLC

Lonestar
Opportunity Funds

Clarion
Partners

Walton
Street Capital, LLC

Starwood
Financial Trust

BlackRock,
Inc.

Eightfold
Real Estate Capital, L.P.

KKR
Real Estate Manager Finance LLC

Rialto
Capital Management, LLC

Rialto
Capital Advisors, LLC

 

    C-1Exhibit 4.14

 

 

AGREEMENT
BETWEEN NOTE HOLDERS

 

Dated
as of May 22, 2017

 

by
and between

 

CIBC
INC.,

(Initial Note A-1 Holder),

 

and

 

CIBC
INC.,

(Initial Note A-2 Holder)

 

Concorde
Portfolio

 

 

    

     

    

 

TABLE OF CONTENTS

 

	 		Page

	Section
    1	Definitions	 	1
	Section
    2	Servicing of the Mortgage Loan	 	14
	Section
    3	Priority
    of Payments	 	21
	Section
    4	WorkouT	 	22
	Section
    5 	Administration
    of the Mortg age Loan	 	22
	Section
    6	Rights
    of the Controlling Note Holder	 	27
	Section
    7	Appointment
    of Special Servicer	 	30
	Section
    8	Payment
    Procedure	 	31
	Section
    9 	Limitation
    on Liability of the Note Holders	 	32
	Section
    10	Bankruptcy	 	32
	Section
    11	Representations
    of the Note Holders	 	33
	Section
    12	NO
    Creation of a Partnership or Exclusive Purchase Right.	 	33
	Section
    13	Other
    Business Activities of the Note Holders	 	34
	Section
    14	Sale
    of the Notes	 	34
	Section
    15	Registration
    of the Notes and Each Note Holder	 	37
	Section
    16	Governing
    Law; Waiver of Jury Trial	 	37
	Section
    17	Submission
    To Jurisdiction; Waivers	 	38
	Section
    18	Modifications	 	38
	Section
    19	Statement
    of Intent	 	39
	Section
    20	Successors
    and Assigns; Third Party Beneficiaries	 	39
	Section
    21 	Counterparts	 	39
	Section
    22	Captions	 	39
	Section
    23	Severability	 	39
	Section
    24	Entire
    Agreement	 	39
	Section
    25	Withholding
    Taxes	 	39
	Section
    26	Custody
    of Mortgage Loan Documents	 	41
	Section
    27	Cooperation
    in Securitization	 	41
	Section
    28	Notices	 	42
	Section
    29	BrokeR	 	42
	Section
    30	Certain
    Matters Affecting the Agent	 	42
	Section
    31	Reserved
    	 	43
	Section
    32	Resignation
    or Termination of Agent	 	43
	Section
    33	Resizing	 	43

 

    -i-

     

    

  

This
AGREEMENT BETWEEN NOTE HOLDERS (this “Agreement”), dated as of May 22, 2017 by and between CIBC INC., a Delaware
corporation (“CIBC”, together with its successors and assigns in interest, in its capacity as initial owner
of Note A-1 described below, the “Initial Note A-1 Holder” and, in its capacity as the initial agent, the “Initial
Agent”) and CIBC (together with its successors and assigns in interest, in its capacity as initial owner of Note A-2
described below, the “Initial Note A-2 Holder”; the Initial Note A-1 Holder and the Initial Note A-2 Holder
are referred to collectively herein as the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), CIBC originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage
loan borrowers described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced,
inter alia, by two substitute promissory notes dated as of May 15, 2017: (i) one promissory note designated Promissory
Note (A-1) made by the Mortgage Loan Borrower in favor of CIBC in the original principal amount of $18,000,000, and (ii) one promissory
note designated Promissory Note (A-2) made by the Mortgage Loan Borrower in favor of CIBC in the original principal amount of
$12,000,000. The note referenced in clause (i) of the preceding sentence, as amended, modified or supplemented, is
referred to herein as “Note A-1”; and the note referenced in clause (ii) of the preceding sentence,
as amended, modified or supplemented, is referred to herein as “Note A-2”. Note A-1 and Note A-2 are collectively
referred to herein as the “Notes”. The Notes are secured by a first priority deed of trust (as amended, modified
or supplemented, the “Mortgage”) on certain real property located as described on the Mortgage Loan Schedule
(the “Mortgaged Property”);

 

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

 

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 Lead Securitization
Servicing Agreement. Whenever used in this Agreement, the following terms shall have the respective meanings set forth below unless
the context clearly requires otherwise.

 

“Acceptable
Insurance Default” shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

“Advances”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

“Affiliate”
shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

     

     

    

  

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

 

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

 

“Agreement”
shall mean this Agreement between Note Holders, any exhibits and schedules 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 appointed as provided in the Lead Securitization
Servicing Agreement.

 

“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.

 

“Collection
Account” shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

    -2-

     

    

  

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

 

“Controlling
Note” shall mean Note A-1.

 

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note 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 any other party
that is assigned the right to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent
provided in the related Securitization Servicing Agreement; provided that for so long as 50% or more of the Controlling
Note is held by (or the party assigned the right to exercise the rights of the “Controlling Note Holder” (as described
above) is) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, the Controlling Note (and such party assigned
the right to exercise the rights of the “Controlling Note Holder” as described above) shall not be entitled to exercise
any rights of the Controlling Note Holder, and there shall be deemed to be no Controlling Note Holder hereunder.

 

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

 

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

 

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

 

“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.

 

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

 

    -3-

     

    

  

“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 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, that for the purposes of this definition, in the event that more than one entity comprises
the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -4-

     

    

  

“Lead
Securitization Servicing Agreement” shall mean the Note A-1 PSA.

 

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

 

“Major
Decisions” shall mean each “Major Decision” as defined in the Lead Securitization Servicing Agreement that
relates to the Mortgage Loan.

 

“Master
Servicer” shall mean the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of February 17, 2017, between CIBC, as lender, and the Mortgage
Loan Borrower, as borrower, 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 and securing the Mortgage Loan.

 

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

 

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

 

“New
Notes” shall have the meaning assigned to such term in Section 33.

 

“Nonrecoverable
Advance” shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

    -5-

     

    

  

“Non-Controlling
Note” means any Note other than the Controlling Note, and any New Note designated as a “Non-Controlling Note”
hereunder pursuant to Section 33.

 

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s respective
Note is included in a Securitization, references to such “Non-Controlling Note Holder” herein shall mean the “Controlling
Class Representative” or Directing Certificateholder or any other party assigned the right to exercise the rights of such
“Non-Controlling Note Holder” hereunder, as and to the extent provided in the related Securitization Servicing Agreement
and as to the identity of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) has been
given written notice; provided that for so long as 50% or more of any Non-Controlling Note is held by (or the majority
“controlling class” holder or other party assigned the right to exercise the rights of such “Non-Controlling
Note Holder” (as described above) is) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, such Non-Controlling
Note (and the majority “controlling class” holder or other party assigned the right to exercise the rights of such
“Non-Controlling Note Holder” as described above) shall not be entitled to exercise any rights of such Non-Controlling
Note Holder, and there shall be deemed to be no Non-Controlling Note Holder hereunder with respect to such Non-Controlling Note.
The Lead Securitization Note Holder (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 in respect of any Note that is exercising the rights of a “Non-Controlling
Note Holder” herein or under the Lead Securitization Servicing Agreement and (x) to the extent that the related Securitization
Servicing Agreement assigns such rights to more than one party or (y) to the extent any Note is split into two or more New Notes
pursuant to Section 33, for purposes of this Agreement, the applicable Securitization Servicing Agreement or the holders
of such New Notes shall designate one party to deal with the Lead Securitization Note Holder (or the Master Servicer or the Special
Servicer acting on its behalf) and provide written notice of such designation to the Lead Securitization Note Holder (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 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 a Non-Controlling Note Holder, as
a Non-Controlling Note Holder under this Agreement.

 

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

 

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

 

    -6-

     

    

  

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

 

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

 

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

 

“Non-Lead
Operating Advisor” shall mean the operating advisor under any Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

“Non-Lead
Securitization Servicing Agreement” shall mean, on and after the Note A-1 Securitization Date, the Note A-2 PSA.

 

“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 that is not 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 “Promissory
Note A-1 Principal Balance” set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by
the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

 

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

 

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

 

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

 

    -7-

     

    

  

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

 

“Note
A-2 PSA” shall mean the pooling and servicing 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
Holder Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative,
as applicable.

 

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

 

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

 

“Note
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 operating advisor appointed as provided in 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, (a) with respect to the Note A-1 Holder, 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 and the Note
A-2 Principal Balance, and (b) with respect to the Note A-2 Holder, 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 and the Note
A-2 Principal Balance.

 

“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

 

    -8-

     

    

  

other nationally-recognized manager of investment funds investing in debt
or equity interests relating to commercial real estate, (ii) investing through a fund with committed capital of at least
$250,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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

 

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

 

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

 

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

 

(b)       the
trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CDO comprised of, or other
securitization vehicle involving, assets deposited or transferred by a Note Holder and/or one or more Affiliates (whether with
assets from others or not), provided that the securities issued in connection with such CDO or other securitization vehicle
are rated by each of the Rating Agencies that assigned a rating to one or more classes of securities issued in connection with
the Lead Securitization, or

 

(c)       one
or more of the following:

 

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

 

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

 

    -9-

     

    

 

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

 

(iv)       an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional
Lender under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities
referred to in clause (i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner,
managing member, or the fund manager responsible for the day-to-day management and operation of such investment vehicle and provided
that at least 50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities
that are otherwise Qualified Institutional Lenders (without regard to the capital surplus/equity and total asset requirements
set forth below in the definition), or

 

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

 

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

 

(d)       any
entity Controlled by any of the entities described in clause (b) above or that is the subject of a Rating Agency Confirmation
as a Qualified Institutional Lender

 

    -10-

     

    

  

for purposes of this Agreement from each of the Rating Agencies engaged by the Depositor and
any Non-Lead Depositor to rate the securities issued by the related Securitization Trust.

 

“Qualified
Trustee” means (i) a corporation, national bank, national banking association or a trust company, organized and
doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust
powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision
or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or
(iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two 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, 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 Notes.

 

“Rating
Agency Communication” shall mean, with respect to any action and any Securitization, any written communication intended
for a Rating Agency, which shall be delivered at least ten (10) Business Days prior to completing such action, in electronic document
format suitable for website posting to the 17g-5 information provider under the applicable Securitization Servicing Agreement.

 

“Rating
Agency Confirmation” shall mean, with respect to any Securitization, a confirmation in writing by each of the applicable
Rating Agencies for such Securitization that the occurrence of the event with respect to which such Rating Agency Confirmation
is sought shall not result in a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating
Agency to any of the securities issued pursuant to such Securitization that are then outstanding. 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 Lead Securitization Note Holder, which consent shall not be unreasonably withheld, conditioned or delayed.
For the purposes of this Agreement, if any Rating Agency shall waive, decline or refuse to review or otherwise engage any request
for Rating Agency Confirmation hereunder, such waiver, declination, or refusal shall be deemed to eliminate, for such request
only, the condition that a Rating Agency Confirmation by such Rating Agency (only) be obtained for purposes of this Agreement.
For purposes of clarity, any such waiver, declination or refusal to review or otherwise engage in any request for a Rating Agency
Confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request
for a Rating Agency Confirmation hereunder and the condition for Rating Agency Confirmation pursuant to this Agreement for any
subsequent

 

    -11-

     

    

 

request shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such
prior request.

 

“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 or may hereafter
be from time to time provided by the Commission or by the staff of the Commission, or as may be provided by the Commission or
its staff from time to time, in each case as effective from time to time as of the compliance dates specified therein.

 

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

 

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

 

“REO
Property” shall have the meaning assigned to the term “REO Property” or such other analogous term used in
the Lead Securitization Servicing Agreement.

 

“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included
in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the
date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage
securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as
special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar
equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with
respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization
that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has
not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial
mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage
securities, (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 acting as special servicer in a commercial mortgage loan securitization
that was rated by DBRS within the twelve (12) month

 

    -12-

     

    

  

period prior to the date of determination and DBRS has not downgraded or withdrawn
the then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on
watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities as a material
reason for such downgrade or withdrawal.

 

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

 

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

 

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

 

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

 

“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, as applicable.

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

 

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

 

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

 

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

 

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

 

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

 

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“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 or excluded mortgage loan special servicer, as applicable, appointed 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(a).

 

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

 

“UBS
2017-C1 PSA” shall mean the pooling and servicing agreement, dated as of June 1, 2017, among UBS Commercial Mortgage
Securitization Corp., as depositor, Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management LLC,
as special servicer, Aegon USA Realty Advisors, LLC, as Save Mart Portfolio special servicer, Wells Fargo Bank, National Association,
as certificate administrator, Wilmington Trust, National Association, as trustee, and Pentalpha Surveillance LLC, as operating
advisor and asset representations reviewer.

 

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

 

Section
2.                Servicing
of the Mortgage Loan.

 

(a)               
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, from and after the Note A-1 Securitization
Date, the Mortgage Loan shall be serviced by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement
and the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly
payments of principal or interest in respect of any Note other than the Lead Securitization Note if such principal or interest
is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and
other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage
thereon, subject to the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges that any other Note
Holder may elect, in

 

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its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 27,
reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. Subject
to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment
of the Master Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee
under the Lead Securitization Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Controlling
Note Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing
of the Mortgage Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master
Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign
any documents reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the
Lead Securitization Servicing Agreement (subject at all times to the rights of the Note Holder set forth herein and in the Lead
Securitization Servicing Agreement). The Lead Securitization Servicing Agreement shall not limit the Servicer in enforcing the
rights of one Note Holder against any other Note Holder as may be required in order to service the Mortgage Loan as contemplated
by this Agreement and the Lead Securitization Servicing Agreement; provided, that it is also understood and agreed that
nothing in this sentence shall be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder.
Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement (i) 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, (ii) to provide information to each Non-Lead Master Servicer and Non-Lead Special Servicer under each Non-Lead Securitization
Servicing Agreement necessary to enable each such servicer to perform its servicing duties under such Non-Lead Securitization
Servicing Agreement, and (iii) to 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 and the servicer(s) to be
appointed under such replacement servicing agreement would not otherwise meet the conditions to be a servicer under the Lead Securitization
Servicing Agreement that is being replaced, then a Rating Agency Confirmation shall have been obtained from each Rating Agency
with respect to the securities issued in connection with such Securitization for such Non-Lead Securitization Note; provided,
further, that until a replacement servicing agreement has been entered into, the Lead Securitization Note Holder shall
cause the Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing Agreement, as if such agreement
were still in full force and effect with respect to the Mortgage Loan, by the applicable Servicer in the Lead Securitization or
by any Person appointed by the Lead Securitization Note Holder that is a qualified servicer meeting the requirements of the Lead
Securitization Servicing Agreement. The Note Holders acknowledge that at any time that the Mortgage Loan is no longer subject
to

 

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the provisions of the Lead Securitization Servicing Agreement, the Master Servicer shall have no further obligation to make
P&I Advances with respect to the Mortgage Loan.

 

(b)              
The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, or,
in the case of Servicing Advances, the Special Servicer, to the extent provided in the Lead Securitization Servicing Agreement)
shall make (or in the case of the Special Servicer, may but is not obligated to 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 if and to the extent provided in the Lead Securitization Servicing Agreement and this
Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for a
Servicing Advance, first, from funds on deposit in the Collection Account that represent amounts received on or in respect
of the Mortgage Loan in the manner provided in the Lead Securitization Servicing Agreement, and then, in the case of Servicing
Advances that are Nonrecoverable Advances, if such funds on deposit in the Collection Account are insufficient, from general collections
of the Lead Securitization as provided in the Lead Securitization Servicing Agreement and from general collections of the Non-Lead
Securitization as provided below. The Master Servicer, the Special Servicer and the Trustee, as 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
and from general collections of the Non-Lead Securitization as provided below. Notwithstanding the foregoing, to the extent the
Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization
as a reimbursement for a Servicing Advance that is 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 such Non-Lead
Securitization Note is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead
Securitization for its pro rata share of such Nonrecoverable Advance or Advance Interest.

 

In
addition, any Non-Lead Securitization Note Holder (including, but not limited to, any Securitization Trust into which such Non-Lead
Securitization Note is deposited) shall be required to, promptly following notice from the Master Servicer or the Special Servicer,
pay or 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, the
Depositor or CREFC®, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing
Agreement, to the extent amounts on deposit in the Collection Account that are allocated to the Non-Lead Securitization Note are
insufficient for reimbursement of such amounts (which such payment or reimbursement shall be made, if the Non-Lead Securitization
Note has been included in a Non-Lead Securitization Trust, from general collections of such Non-Lead Securitization Trust). Each
Non-Lead Securitization Note Holder agrees to 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 Depositor under the Lead

 

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Securitization Servicing Agreement, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and the Asset Representations
Reviewer (and any partner, director, officer, shareholder, member, manager, 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, reasonable legal
fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the servicing
and administration of the Mortgage Loan and the Mortgaged Property (or, with respect to the Operating Advisor, incurred in connection
with the provision of services for the Mortgage Loan) under the 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 Collection Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts,
each Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer, the Special
Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency;
provided, that a 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 Non-Lead Securitization Servicing Agreement.

 

Any
Non-Lead Master Servicer (or Non-Lead Trustee (if not made by such Non-Lead Master Servicer)) may be required to make P&I
Advances on the respective Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead Securitization
Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer
and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance
to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization
Servicing Agreement. Any Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization
Servicing Agreement, as applicable, shall each 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 they have on hand and in accordance
with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any Non-Lead
Master Servicer or Non-Lead Trustee, as applicable, shall each be required to notify the other 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 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
such Non-Lead Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in
the case of a determination of non-

 

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recoverability by a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee)
shall notify the Master Servicer and the Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee, as
the case may be, of such other Securitization within two (2) Business Days of making such determination. Each of the Master Servicer
and the Trustee, any Non-Lead Master Servicer and any Non-Lead Trustee, as applicable, shall only be entitled to reimbursement
for a P&I Advance and Advance Interest thereon that becomes non-recoverable first, from the Collection Account from
amounts allocable to the Note for which such P&I Advance was made, and then, if such 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)               
Each Non-Lead Securitization Note Holder, if its Non-Lead Securitization Note is included in a Securitization, 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 Servicing Advances that
are Nonrecoverable Advances (and Advance Interest thereon) and any additional trust fund expenses, but only to the extent that
they relate to servicing and administration of the Notes and the Mortgaged Property, including without limitation, any unpaid
Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that in the event that the funds received
with respect to each respective Note are insufficient to cover such Servicing Advances or additional trust fund expenses, (x) the
related Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer, the Special Servicer
or the Trustee, pay or 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 such Non-Lead Securitization Servicing
Agreement for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances and/or additional trust fund expenses, and (y) if the Lead Securitization Servicing Agreement permits the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor to reimburse itself from the
Lead Securitization Trust’s general collections, then the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee or the Operating Advisor, as applicable, may do so and the related Non-Lead Master Servicer will be required to, promptly
following notice from the Master Servicer, the Special Servicer or the Trustee, pay or reimburse the Lead Securitization Trust
out of general collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances (and Advance Interest thereon) and/or additional trust fund expenses;

 

(ii)              
each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required
to indemnify each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to
the terms of the Lead Securitization Servicing Agreement) by the Securitization Trust

 

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holding such Non-Lead Securitization Note,
against any of the Indemnified Items to the extent of the Non-Lead Securitization Note’s pro rata share of such Indemnified
Items, and to the extent amounts on deposit in the Collection Account that are allocated to the Non-Lead Securitization Note are
insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse each of the
applicable Indemnified Parties for the Non-Lead Securitization Note’s pro rata share of the insufficiency out of
general collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement; provided, that a 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 or Non-Lead Certificate Administrator, as applicable, will be required to deliver
to the Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer and the Operating Advisor (x) 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, Non-Lead Certificate
Administrator, Non-Lead Master Servicer, Non-Lead Special Servicer and the party designated to exercise the rights of the “Non-Controlling
Note Holder” under this Agreement), accompanied by a certified copy of the related executed Non-Lead Securitization Servicing
Agreement and (y) 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 Note Holder” with respect to such Non-Lead Securitization Note 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.

 

(d)            
Prior to the Securitization of any Note (including any New Note), all notices, reports, information or other deliverables
required to be delivered to a 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 Note Holder (or its Note Holder Representative) and, when so delivered to such Note Holder (or 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 any Note (including any New Note), as applicable, all notices, reports, information
or other deliverables required to be delivered to a 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 master servicer and the special servicer with respect to such Securitization (who then may forward such items
to the party entitled to receive such items as and to the extent provided in the related Securitization Servicing Agreement) and,
when so delivered to such master servicer and the special servicer, the Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf)

 

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shall be deemed to have satisfied its delivery obligations with respect to such
items hereunder or under the Lead Securitization Servicing Agreement.

 

(e)               
In addition to the foregoing, each 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 the trust fund formed pursuant to such Securitization Servicing Agreement, (ii) required by law
or changes in any law, rule or regulation or (iii) requested by the Rating Agencies rating the related Securitization. Each Non-Lead
Securitization Note Holder shall have the right to designate the Non-Lead Master Servicer and Non-Lead Special Servicer with respect
to the Securitization related to its Note, as long as each such Servicer satisfies the conditions to be the master servicer or
special servicer, as applicable, set forth in the Lead Securitization Servicing Agreement. Without limiting the generality of
any provision set forth above, for purposes of the Mortgage Loan, each Securitization Servicing Agreement shall contain (a) provisions
requiring the related master servicer and the related special servicer to maintain, or subjecting them to possible termination
for not maintaining, compliance with customary servicer rating criteria (but the rating agencies need not be the same) and (b)
provisions similar in all material respects to or materially consistent with those set forth in the UBS 2017-C1 PSA (but allowing
for changes in CMBS documentation in connection with revised Regulation AB) with respect to (i) periodic reporting and periodic
delivery of service provider compliance documents under Regulation AB (and, in any event, each Securitization Servicing Agreement
shall require such reporting and delivery so long as the Lead Securitization is required to file periodic reports under the Securities
Exchange Act of 1934, as amended), (ii) servicing transfer events that would result in the transfer of the Mortgage Loan to special
servicing status, (iii) the authority of the Controlling Note Holder (or the Master Servicer or Special Servicer on its behalf)
to grant or agree or consent to material modifications, waivers and amendments to the Mortgage Loan, or to approve material assignments
and assumptions or material additional indebtedness in connection with the Mortgage Loan, (iv) the potential termination of the
related master servicer and special servicer following a servicer termination event, (v) requirements to obtain an appraisal or
appraisal update following a transfer of the Mortgage Loan to special servicing status and periodic updates thereof, (vi) duties
of the special servicer in respect of foreclosure and the management of REO property, (vii) primary servicing, special servicing,
workout and liquidation fees (and, in any event, the fees at which such compensation accrue or are determined shall not exceed
0.0325%, 0.25%, 1.00% (provided that if such rate would result in an aggregate Liquidation Fee less than $25,000, then
the Liquidation Fee Rate will be equal to the lesser of (i) 3.00% and (ii) such lower rate as would result in an aggregate
Liquidation Fee equal to $25,000) and 1.00%, respectively) and (viii) indemnification of the Depositor, Master Servicer, Special
Servicer, Certificate Administrator, Trustee and Operating Advisor under the Lead Securitization Servicing Agreement (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) 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 related operating advisor, incurred in connection
with the provision of services for the Mortgage Loan) to the same extent that the Indemnified Parties are indemnified under the
Lead Securitization Servicing Agreement against the Indemnified Items; provided, that (A) this statement shall not be construed
to prohibit differences in timing, control

 

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or consultation triggers or thresholds, terminology, allocation of ministerial duties
between multiple servicers or other service providers or certificateholder or investor voting or consent thresholds, or to prohibit
or restrict additional approval, consent, consultation, notice or rating agency communication and rating agency confirmation requirements;
and (B) if there is any conflict between this sentence and any other provision of this Agreement, such other provision of this
Agreement shall control.

 

(f)               
The Lead Securitization Note Holder shall cause the Lead Securitization Servicing Agreement to contain provisions requiring
the Master Servicer or Special Servicer to deliver to any Non-Lead Master Servicer, any Non-Lead Special Servicer and any Non-Lead
Trustee (i) notice of any Appraisal Reduction Event promptly following the occurrence thereof and (ii) a statement of any Appraisal
Reduction Amount promptly following the calculation thereof.

 

Section
3.                Priority
of Payments. 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 Scheduled Interest Payments, Scheduled Principal 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, condemnation proceeds, or insurance proceeds (other than proceeds, awards or settlements
to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with
the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), 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 the extent and in accordance with the terms of the Mortgage Loan
Documents) to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection
expenses or 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 the Lead Securitization Servicing Agreement; 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 additional compensation
payable to it thereunder (including without limitation, any additional trust fund expenses 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, 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 each 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 from such amounts in accordance with the Lead Securitization
Servicing Agreement.

 

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For
clarification purposes, “Penalty Charges” (or analogous term as defined in the Lead Securitization Servicing Agreement)
paid on each Note shall, first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the
amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any 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, any
Non-Lead Master Servicer or any Non-Lead Trustee, as applicable, 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 applicable Non-Lead Securitization
Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each
Note by the amount necessary to pay additional trust fund expenses (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, with respect to any remaining amount of Penalty Charges, pro rata, to the Lead Securitization Note (to be paid
to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization
Servicing Agreement) and to each Non-Lead Securitization Note (to be paid, (x) prior to the securitization of such Note, to the
related Note Holder and (y) following the securitization of such Note, to the Master Servicer and/or the Special Servicer as additional
servicing compensation as provided in the Lead Securitization Servicing Agreement).

 

Section
4.                Workout.
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Lead Securitization
Servicing Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead Securitization Note Holder,
or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof such that (i) the
principal balance of the Mortgage 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, without limitation, Section 5(c)) and the Lead Securitization Servicing
Agreement and subject to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on its behalf), 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 to 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

 

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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 its behalf) the rights, if any, that such Note
Holder has from and after the initial Securitization Date 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 its behalf) 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. In connection
with any such sale, the Special Servicer shall be required to sell the Notes together as notes evidencing one whole loan 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 (unless the offeror is an Interested Person, in which case the Trustee
shall make such determination to the extent required by the Lead Securitization Servicing Agreement); provided, that no
offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at
least two other offers are received from independent third parties. In determining whether any offer received represents a fair
price for the Mortgage Loan, the Trustee or the Special Servicer, as applicable, shall be supplied with and shall rely on the
most recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement within the
preceding 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 Mortgage Loan, the Trustee
or the Special Servicer, as applicable, 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 Lead Securitization Servicing Agreement), as applicable, among
other factors, the period and amount of any delinquency on the Mortgage Loan, the occupancy level and physical condition of the
related Mortgaged Property and the state of the local economy. Notwithstanding anything contained in this paragraph to the contrary,
if the Trustee is required to determine whether a cash offer by an Interested Person constitutes a fair price, the Trustee shall
be required to (at the expense of the Interested Person) designate an independent third party expert in real estate or commercial
mortgage loan matters with at least 5 years’ experience in valuing or investing in loans similar to the Mortgage Loan that
has been selected with reasonable care by the Trustee to determine if such cash offer constitutes a fair price for the Mortgage
Loan. If the Trustee designates such a third party to make such determination, the Trustee will be entitled to rely conclusively
upon such third party’s determination. The reasonable costs of all appraisals, inspection reports and broker opinions of
value incurred by any such third party pursuant to this

 

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paragraph will be covered by, and will be reimbursable by the Interested
Person; provided that the Trustee will not engage a third party expert whose fees exceed a commercially reasonable amount
as determined by the Trustee. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting
on its behalf) shall not be permitted to sell the Mortgage Loan without the written consent of each Non-Lead Securitization Note
Holder (unless with respect to each Non-Lead Securitization Note Holder, 50% or more of the related Note (or the class of securities
issued in the applicable Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise
assigned the right to exercise the rights of the “Controlling Note Holder” is held by the Mortgage Loan Borrower or
an Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to such Non-Lead Securitization Note Holder:
(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 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 Servicer Mortgage File requested
by such Non-Lead Securitization Note Holder; 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 related Lead Securitization Controlling Class Representative prior to the
proposed sale date, all information and other documents being provided to other offerors and all leases or other documents that
are approved by the Master Servicer or the Special Servicer in connection with the proposed sale. Subject to the foregoing, each
Note Holder or its Note Holder Representative shall be permitted to submit an offer at any sale of the Mortgage Loan.

 

Each
Note Holder (to the extent it is not the same entity as the 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 its Note. Each Note Holder
(to the extent it is not the same entity as the Lead Securitization Note Holder) further agrees that, upon the request of the
Lead Securitization Note Holder, such 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 its original 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 any Non-Lead Securitization Note, and the obligations of any other Note
Holder to execute and deliver instruments or deliver the related Note upon request of the Lead Securitization Note Holder, shall
terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased
by the holder of such Lead Securitization Note that sold such Lead Securitization Note into such Securitization from the trust
fund established under the Lead Securitization Servicing Agreement in connection with a material breach of representation or warranty
made by such Person with respect to the Lead Securitization Note or material document defect with respect to the documents delivered
by such Person with respect to the Lead Securitization Note upon the consummation of the Lead Securitization. The preceding sentence
shall not be construed to grant to any Non-Lead Securitization Note Holder the benefit

 

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of any representation or warranty made
by the holder of the Lead Securitization Note that sold such Lead Securitization Note into the Lead Securitization or any document
delivery obligation imposed on such Person under any mortgage loan purchase and sale agreement, instrument of transfer or other
document or instrument that may be executed or delivered by such Person in connection with the Lead Securitization.

 

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement.
The servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced
Mortgage Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in
each case pursuant to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein,
in accordance with the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer
and the Special Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account
the interests of 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 to the extent
set forth in the Lead Securitization Servicing Agreement. 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 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 the same Person as, or is an Affiliate of, the Mortgage Loan Borrower) shall be a third-party beneficiary
to the Lead Securitization Servicing Agreement with respect to its rights as specifically provided for therein.

 

(c)                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 to each Non-Lead Securitization Note Holder (or its Note Holder Representative) copies
of any notice, information and report that it is required to provide to the Lead Securitization Controlling Class
Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or the
implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, within the same
time frame it is required to provide such notice, information or report to the Lead Securitization Controlling Class
Representative (for this purpose, without regard to whether such items are actually required to be provided to the Lead
Securitization Controlling Class Representative under the Lead Securitization Servicing Agreement due to the occurrence of a
Control Termination Event or a Consultation Termination Event) and (ii) to use reasonable efforts to consult with each
Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) on a strictly non-binding basis, to the
extent having received such notices, information and reports, such Non-Controlling Note Holder (or its Non-Controlling Note
Holder Representative) requests consultation with respect to any such Major 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 Note Holder (or its Non-Controlling Note Holder Representative); provided
that after the expiration of a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder (or its
Non-Controlling Note Holder Representative) by the Lead

 

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Securitization Note Holder (or the Master Servicer or the Special
Servicer acting on its behalf) of written notice of a proposed action, together with copies of the notice, information and
report required to be provided to the Lead Securitization Controlling Class Representative, the Lead Securitization Note
Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult with
such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), whether or not such Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) has responded within such ten (10) Business Day period
(unless, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) proposes a
new course of action that is materially different from the action previously proposed, in which case such ten (10) Business
Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto).
Notwithstanding the consultation rights of each Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative) set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Master Servicer or
Special Servicer, acting on its behalf) may take 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 the
Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

 

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

 

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

 

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Loan.
All costs and expenses of compliance with this Section 5(d), to the extent that such costs and expenses relate to administration
of a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual
payment of any REMIC tax or expense, shall be borne by all of the Note Holders collectively, each contributing on a pro rata
and pari passu basis according to the Percentage Interest represented by each Note.

 

Anything
herein or in the Lead Securitization Servicing Agreement to the contrary notwithstanding, if one of the Notes is included in a
REMIC and another 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
any other Note Holder be reduced to offset or make-up any such payment or deficit.

 

Section
6.                Rights
of the Controlling Note Holder.

 

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

 

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Neither
the Controlling Note Holder Representative nor the Controlling Note Holder will have any liability to any other Note Holder or
any other Person for any action taken, or for refraining from the taking of any action or the giving of any consent or the failure
to give any consent pursuant to this Agreement or the Lead Securitization Servicing Agreement, or errors in judgment, absent any
loss, liability or expense incurred by reason of its willful misfeasance, bad faith 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 any other Note Holder, and that the Controlling
Note Holder Representative and the Controlling Note Holder may have special relationships and interests that conflict with the
interests of another Note Holder and, absent willful misfeasance, bad faith or gross negligence on the part of the Controlling
Note Holder Representative or the Controlling Note Holder, as the case may be, agree to take no action against the Controlling
Note Holder Representative, the Controlling Note Holder or any of their respective officers, directors, employees, principals
or agents as a result of such special relationships or interests, and that neither the Controlling Note Holder Representative
nor the Controlling Note Holder will be deemed to have been grossly negligent or reckless, or to have acted in bad faith or engaged
in willful misfeasance or to have recklessly disregarded any exercise of its rights by reason of its having acted or refrained
from acting, or having given any consent or having failed to give any consent, solely in the interests of any Note Holder.

 

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; 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 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.

 

Each
Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its
rights and obligations with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling Note
Holder Representative”). All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder
Representative set forth in the first paragraph of this Section 6(a) (except those contained in the last sentence
thereof) and the second paragraph of this Section 6(a) shall apply to each Non-Controlling Note Holder and
its Non-Controlling Note Holder Representative mutatis mutandis.

 

For
so long as the Lead Securitization Note is included in the Lead Securitization, the “Directing Certificateholder”
under the Lead Securitization Servicing Agreement (or any other party designated under the Lead Securitization Servicing Agreement
to exercise the rights of the Controlling Note Holder hereunder) shall be the Controlling Note Holder Representative.

 

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(b)              
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder
and the rights and powers granted to the Lead Securitization Controlling Class Representative with respect to the Mortgage Loan
(assuming that a “Control Termination Event”, as defined in the Lead Securitization Servicing Agreement, has not occurred).
In addition, the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to the Mortgage Loan
(if it is a Specially Serviced Loan and not an Excluded Loan), (2) the Special Servicer with respect to the Mortgage Loan (if
it is not a Specially Serviced Loan or an Excluded Loan), as to all Major Decisions and (3) the Master Servicer to the extent
the Controlling Note Holder’s consent is required by the definition of “Master Servicer Decision” under the
Lead Securitization Servicing Agreement, 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 five (5) Business
Days (or thirty (30) days with respect to an Acceptable Insurance Default) after receipt of the Special Servicer’s written
recommendation and analysis and such additional information reasonably requested by the Controlling Note Holder 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 five (5) Business Days (or thirty (30) days with respect to an Acceptable Insurance Default) after delivery to the Controlling
Note Holder by the applicable Servicer of written notice of a proposed Major Decision (which notice shall contain a legend, in
conspicuous boldface type, substantially similar to the following: “THIS IS A REQUEST FOR ACTION APPROVAL. IF THE CONTROLLING
NOTE HOLDER FAILS TO APPROVE OR DISAPPROVE THE ENCLOSED ACTION WITHIN FIVE (5) BUSINESS DAYS, SUCH ACTION MAY BE DEEMED APPROVED”)
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 five (5) Business Day period (or thirty
(30) days with respect to an Acceptable Insurance Default), 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, direction, consent or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the
Special Servicer, as applicable, to violate any provision of the Mortgage Loan Documents, applicable law, the Lead Securitization

 

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Servicing Agreement, this Agreement, the REMIC Provisions of the Code or the Master Servicer or Special Servicer’s obligation
to act in accordance with the Servicing Standard.

 

The
Controlling Note Holder shall have no liability to the other Note Holders or any other party 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 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 may have special relationships and interests that conflict with the interests of
another Note Holder and, absent willful misconduct, bad faith or gross negligence on the part of the Controlling Note Holder,
agree to take no action against the Controlling Note Holder or any of its officers, directors, employees, principals or agents
as a result of such special relationships or interests, and that the Controlling Note Holder shall not be deemed to have been
grossly negligent or reckless, or to have acted in bad faith or engaged in willful misconduct or to have recklessly disregarded
any exercise of its rights by reason of its having acted or refrained from acting, or having given any consent or having failed
to give any consent, solely in the interest of any Note Holder.

 

Section
7.                Appointment
of Special Servicer. The Controlling Note Holder (or its Controlling Note Holder Representative) shall have the right (subject
to the terms, conditions and limitations in the Lead Securitization Servicing Agreement) 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 each other Note Holder, the Master Servicer, the Special Servicer
and each other party 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 Communication or a Rating Agency Confirmation, but only if required by the terms of the Lead Securitization Servicing
Agreement), if any. The Controlling Note Holder shall be solely responsible for any expenses incurred in connection with any such
replacement without cause. The Controlling Note Holder shall notify the other parties hereto of its termination of the then currently
serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7.
If the Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of
the securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead
Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the Controlling
Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the Mortgage Loan
as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects any 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. Each Note Holder acknowledges

 

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and agrees 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 Non-Controlling Note Holder. Each Non-Controlling Note Holder shall be solely responsible for reimbursing the Trustee’s
or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated
special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in
the Lead Securitization’s collection account (or equivalent account).

 

Section
8.                Payment
Procedure.

 

(a)               
The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee 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”
pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master
Servicer, the Special Servicer or the Trustee acting on its behalf) shall deposit such amounts to the Collection Account within
one (1) Business Day of receipt of properly identified funds by the Lead Securitization Note Holder (or the Master Servicer acting
on its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent that any payment is received
after 2:00 p.m. (Eastern time) on any given Business Day, the Master Servicer is required to use commercially reasonable efforts
to deposit such payment into the applicable account within one (1) Business Day of receipt of properly identified and available
funds, but, in any event, the Master Servicer is required to deposit such payments into the applicable account within two (2)
Business Days of receipt of properly identified and available funds).

 

(b)              
If the Lead Securitization Note Holder (or the Servicer acting on its behalf) 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 any Note Holder or any
Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead Securitization Note
Holder (or the Servicer acting on its behalf) shall not be required to distribute any portion thereof to any Non-Lead Securitization
Note Holder and each Non-Lead Securitization Note Holder shall promptly on demand by the Lead Securitization Note Holder repay
to the Lead Securitization Note Holder (or the Servicer acting on its behalf) any portion thereof that the Lead Securitization
Note Holder (or the Servicer acting on its behalf) 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 (or the Servicer acting on its behalf)
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 (or the Servicer acting on its behalf) makes any payment to any
Non-Lead Securitization Note Holder before the Lead Securitization Note Holder (or the Servicer acting on its behalf) has received
the corresponding payment (it being understood that the Lead Securitization Note Holder is under no

 

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obligation
to do so), and the Lead Securitization Note Holder (or the Servicer acting on its behalf) 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 (or the Servicer acting on its behalf) request, promptly return that payment
to the Lead Securitization Note Holder (or the Servicer acting on its behalf).

 

(d)              
Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the
Mortgage Loan in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder,
subject to this Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the
right to offset any amounts due hereunder from any 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. Such Non-Lead Securitization Note
Holder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section
9.                Limitation
on Liability of the Note Holders. No Note Holder shall have any 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 on its behalf) to comply with, and except as otherwise required by, the Servicing Standard, the Lead Securitization Note
Holder (including any Servicer and the Trustee on its behalf) 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 on its
behalf) shall have no liability whatsoever to any Non-Lead Securitization Note Holder in connection with the Lead Securitization
Note Holder’s exercise of rights or any omission by the Lead Securitization Note Holder to exercise such rights other than
as described above; provided, that each 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
(or the Servicer on its behalf) has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303
or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding
with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets
or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. 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

 

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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 any Non-Lead Securitization Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy
Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote
to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage
Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders
hereby agree that, upon the request of the Lead Securitization Note Holder, each Non-Lead Securitization Note Holder shall execute,
acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and instruments as
the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing appointment
and grant. All actions taken by any Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance
with the Servicing Standard and the terms of this Agreement.

 

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 any 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

 

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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 Holders 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 each other Note Holder or its Affiliates may make loans or otherwise
extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any
entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or Affiliate thereof
or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower Affiliate thereof or any entity (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)               
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 (or a participation interest in such Note) (a “Transfer”)
except to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after any such Transfer, any
non-transferring Note Holders shall be provided with (x) a representation from each transferee or the transferring 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 or a Transfer by a Note Holder to an entity that constitutes a Qualified Institutional Lender pursuant to clause
(c)(iii) of the definition thereof) 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 obtain the consent of each non-transferring Note Holder and, if any such non-transferring Note Holder’s
Note is held in a Securitization Trust, obtain a Rating Agency Confirmation from each of the applicable engaged Rating Agencies
for such Securitization Trust. Notwithstanding the foregoing, without each non-transferring Note Holder’s prior consent
(which will not be unreasonably withheld), and, if any such non-transferring Note Holder’s Note is held in a Securitization
Trust, without a Rating Agency from each of the applicable engaged Rating Agencies for such Securitization, no Note Holder shall
Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage Loan Borrower or a Mortgage
Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported
transferee. The transferring Note Holder agrees that it shall pay the expenses of any 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 the confirmation from the Rating Agencies in connection with any such Transfer. Notwithstanding
the foregoing, unless the related Note is included in a Securitization, each Note Holder shall have the right, without the need
to obtain the consent of any other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the aggregate)
of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of Note
A-1 together

 

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with Note A-2, 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.

 

For
the purposes of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage
any request for a Rating Agency Confirmation, such waiver, declination, or refusal shall be deemed to eliminate, for such request
only, the condition that such confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For purposes
of clarity, any such waiver, declination or refusal to review or otherwise engage in any request for such confirmation hereunder
shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for such Rating Agency
Confirmation hereunder and the condition for such Rating Agency Confirmation pursuant to this Agreement for any subsequent request
shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

 

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

 

(c)               
Notwithstanding any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any
entity (other than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to
such Note Holder and that is either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt
is rated at least “A” (or the equivalent) or better by each applicable Rating Agency (or, if not rated by an applicable
Rating Agency, an equivalent (or higher) rating from any two of Fitch, Moody’s and S&P) (a “Note Pledgee”),
on terms and conditions set forth in this Section 14(c), it being further agreed that a financing provided by a Note
Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note and is structured as a repurchase
arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee which is not a Qualified
Institutional Lender may not take title to the pledged Note without a Rating Agency Confirmation. Upon written notice by the applicable
Note Holder to each other Note Holder and any Servicer that a Pledge has been effected (including the name and address of the
applicable Note Pledgee), each other Note Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to
give Note Pledgee written notice of any default by the pledging Note Holder in respect of its obligations under this Agreement
of which default such Note Holder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure
a default by the pledging Note Holder in respect of its obligations to each other Note Holder hereunder, but such Note Pledgee
shall not be obligated to cure any such default; (iii) that no amendment,

 

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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 and accept any cure thereof by
such Note Pledgee which such pledging Note Holder has the right (but not the obligation) to effect hereunder, as if such cure
were made by such 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 each other Note
Holder and any Servicer by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods,
under the pledging Note Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the
pledging Note Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder), and
until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments
that any Note Holder or Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant to
this Agreement or the Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely
releases each other Note Holder and any Servicer from any liability to the pledging Note Holder on account of such other Note
Holder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or such other Note Holder to
have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging
Note Holder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable
law and this Agreement. In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and any transferee
other than the Mortgage Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure
or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor
to the pledging Note Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified
Institutional Lender shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such
Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions
of this Agreement. The rights of a Note Pledgee under this Section 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; 

 

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(iii)          
   such Note Holder pledges (or sells, transfers or assigns as part of a repurchase facility) 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 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 each 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 each other
Note Holder 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

 

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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;

 

(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 delivering a Rating Agency Communication to each Rating Agency; provided that no such Rating Agency Communication
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, (ii)
to make other provisions with respect to matters or questions arising

 

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under this Agreement, which shall not be inconsistent with
the provisions of this Agreement, or (iii) to address the creation of New Notes in accordance with Section 33 hereof.

 

Section
19.            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
20.            Successors and
Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective successors and assigns. Except as provided herein, including without limitation, with respect to the
Trustee, Certificate Administrator, Master Servicer and Special Servicer and any 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. For the avoidance of doubt, the representations in Section
11 shall not be binding upon any Securitization Trust.

 

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

 

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

 

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

 

Section
25.             Withholding
Taxes.

 

(a)               
If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required by law to deduct and withhold Taxes
from interest, fees or other amounts payable to any Non-Lead Securitization Note Holder with respect to the Mortgage Loan as a

 

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result of such Non-Lead Securitization Note Holder constituting a Non-Exempt Person, such 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 Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall and hereby agrees
to indemnify the Lead Securitization Note Holder against and hold the Lead Securitization Note Holder harmless from and against
any Taxes, interest, penalties and attorneys’ fees and disbursements arising or resulting from any failure of the Lead Securitization
Note Holder to withhold Taxes from payment made to such Note Holder in reliance upon any representation, certificate, statement,
document or instrument made or provided by such Note Holder to the Lead Securitization Note Holder in connection with the obligation
of the Lead Securitization Note Holder to withhold Taxes from payments made to such Note Holder, it being expressly understood
and agreed that (i) the Lead Securitization Note Holder shall be absolutely and unconditionally entitled to accept any such
representation, certificate, statement, document or instrument as being true and correct in all respects and to fully rely thereon
without any obligation or responsibility to investigate or to make any inquiries with respect to the accuracy, veracity, correctness
or validity of the same and (ii) such Note Holder, upon request of the Lead Securitization Note Holder and at its sole cost
and expense, shall defend any claim or action relating to the foregoing indemnification using counsel selected by the Lead Securitization
Note Holder.

 

(c)               
Each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit
of the Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the
Mortgage Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan
or otherwise pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary
during the term of this Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder)
shall deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization
Note Holder substantiating that such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not
obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this
Agreement. Without limiting the effect of the foregoing, (i) if a Note Holder is created or organized under the laws of the
United States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing
to the Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a Note Holder is not created or organized
under the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest or other amounts
by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within
the United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments), Form W-8BEN or Form

 

    -40-

     

    

  

W-8BEN-E, 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 holder of such Note shall
have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

Section
26.             Custody of
Mortgage Loan Documents. Prior to the Note A-1 Securitization Date and the Note A-2 Securitization Date, originals of all
of the Mortgage Loan Documents (other than Note A-1 and Note A-2) will be held by the Initial Agent on behalf of the
registered holders of the Notes. On and after the Note A-1 Securitization Date, the originals of all of the Mortgage Loan
Documents (other than Note A-2) shall be transferred to and held in the name of the Trustee (and held by a duly appointed
custodian therefor) under the Note A-1 PSA, on behalf of the registered holders of the Notes. On and after the Note A-2
Securitization Date, the original of Note A-2 shall be held in the name of the trustee (and held by a duly appointed
custodian therefor) under the Note A-2 PSA.

 

Section
27.              Cooperation in
Securitization.

 

(a)               
Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization.
In connection with a Securitization and subject to the terms of the preceding sentence, at the request of the related Securitizing
Note Holder, each 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 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
the 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 the Securitizing
Note Holder (without any obligation to make additional representations and warranties) to enable the Securitizing Note Holder
to make all necessary certifications and deliver all necessary opinions (including customary securities law opinions) in connection
with

 

    -41-

     

    

  

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 Non-Securitizing
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. The Securitizing Note Holder
shall reasonably cooperate with each Non-Securitizing Note Holder by providing all information reasonably requested that is in
the Securitizing Note Holder’s possession in connection with such Non-Securitizing Note Holder’s preparation of disclosure
materials in connection with a Securitization.

 

Upon
request, each Securitizing Note Holder shall deliver to each related 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
28.            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.

 

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

 

Section
30.             Certain
Matters Affecting the Agent.

 

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

 

    -42-

     

    

  

(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
31.              Reserved.

 

Section
32.             Resignation or
Termination 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. CIBC, 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 CIBC without any
further notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead
Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this
Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent
under this Agreement in place thereof without any further notice or other action.

 

Section
33.            Resizing. Notwithstanding
any other provision of this Agreement, for so long as CIBC, or an affiliate thereof (in such capacity, an “Original Entity”)
is the owner of the Non-Lead Securitization Note (each an “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 an Owned Note to such
New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal amount
equal to the then outstanding principal balance of such Owned Note provided that (i) the aggregate principal balance
of all outstanding New Notes following such amendments is no greater than the aggregate principal balance of such Owned Note prior
to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments,
(iii) all 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

 

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New Notes shall notify the Lead Securitization
Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified
allocations and principal amounts, and (v) the execution of such amendments and New Notes does not violate the Servicing
Standard. If the Lead Securitization Note Holder so requests, the Original Entity holding the New Notes (and any subsequent holder
of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified.
Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed
in Section 5), no Note may be modified or amended without the consent of its holder and the consent of the holder
of each other Note. In connection with the foregoing (provided the conditions set forth in clauses (i) through (v)
above are satisfied, with respect to clauses (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 Controlling
Note Holder or Non-Controlling Note Holder hereunder, the “Controlling Note Holder” or “Non-Controlling Note
Holder”, as applicable, shall be as provided in the definitions of such terms in this Agreement; provided that the Controlling
Note Holder shall be entitled to designate any New Note created from the existing Controlling Note to be a Non-Controlling Note
hereunder.

 

[SIGNATURE
PAGE FOLLOWS]

 

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

 

	 	CIBC INC.,
	 	as Initial Note A-1 Holder
	 	 	 
	 	By:	/s/ Todd H. Roth
		 	Name:	Todd H. Roth
	 	 	Title:	Managing Director

 

	 	CIBC INC.,
	 	as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ Todd H. Roth
	 	 	Name:	Todd H. Roth
	 	 	Title:	Managing Director

 

Concorde
Portfolio -Agreement Between Note Holders  

 

     

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

 

Description
of Mortgage Loan

 

	Mortgage
    Loan Borrowers:	PINELOCH
    AND EL CAMINO INVESTMENT, LTD., BAY AREA AND HIGHWAY THREE, LTD., RIVER POINTE INVESTMENT, LTD., MASON AND CYPRESSWOOD, LTD.,
    GRAND PARKWAY AND NEW TERRITORY BOULEVARD, LTD., ELLIS CREEK AND HIGHWAY 90-A, LTD. and BAY AREA AND SEAWOLF, LTD., each a
    Texas limited partnership
	Date
    of Mortgage Loan:	February
    17, 2017
	Date
    of the Notes:	As
    of May 15, 2017
	Original
    Principal Amount of Mortgage Loan:	$30,000,000.00
	Promissory
    Note A-1 Principal Balance:	$18,000,000.00
	Promissory
    Note A-2 Principal Balance:	$12,000,000.00
	Location
    of Mortgaged Property:	 

                                                                                                                         Pineloch
        Center

        1001 & 1051 Pineloch Drive

        Houston, Texas 77062

         

        Bay
        Area & Highway 3

        411 Bay Area Boulevard

        Houston, Texas 77058

         

        Conroe
        Professional Building

        404 River Pointe Drive

        Conroe, Texas 77304

         

        Fairfield
        Country Shops I West

        15201 Mason Road

        Cypress, Texas 77433

         

        New
        Territory Randall’s Center

        5720-5880 New Territory Boulevard

        Sugar Land, Texas 77479

         

        New
        Territory Country Shops

        6350 E. Highway 90A

        Sugar Land, Texas 77498

         

        Bay
        Area & Seawolf

        515 Bay Area Boulevard

        Houston, Texas 77058

         

	Initial
    Maturity Date:	March
    1, 2027

 

    A-1

     

    

  

EXHIBIT
B

 

1.            Initial
Note A-1 Holder:

 

(Prior
to Securitization of Note A-1):

 

CIBC
Inc.

Attn: Real Estate Finance Group

425 Lexington Avenue, 4th Floor

New York, New York 10017

Attention: Todd H. Roth

Email: todd.roth@cibc.com

 

with
a copy to:

Cassin & Cassin LLP

711 Third Avenue, 20th Floor

New York, New York 10017

Attention: William C. Seligman, Esq. (972.1218)

Email: wseligman@cassinllp.com

 

Following
Securitization of Note A-1 the applicable notice addresses set forth in the related Securitization Servicing Agreement.

 

2.            Initial
Note A-2 Holder:

 

(Prior
to Securitization of Note A-2):

 

CIBC
Inc.

Attn: Real Estate Finance Group

425 Lexington Avenue, 4th Floor

New York, New York 10017

Attention: Todd H. Roth

Email: todd.roth@cibc.com

 

with
a copy to:

Cassin & Cassin LLP

711 Third Avenue, 20th Floor

New York, New York 10017

Attention: William C. Seligman, Esq. (972.1218)

Email: wseligman@cassinllp.com

 

Following
Securitization of Note A-2 the applicable notice addresses set forth in the related Securitization Servicing Agreement.

 

    B-1

     

    

  

EXHIBIT
C

PERMITTED FUND MANAGERS

 

	1.	Alliance Bernstein
	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.	Capital Trust, Inc.
	9.	Clarion Partners
	10.	Colony NorthStar, Inc.
	11.	CreXus Investment Corporation/Annaly Capital Management
	12.	DLJ Real Estate Capital Partners
	13.	Dune Real Estate Partners
	14.	Eightfold Real Estate Capital, L.P.
	15.	Five Mile Capital Partners
	16.	Fortress Investment Group, LLC
	17.	Garrison Investment Group
	18.	Goldman, Sachs & Co.
	19.	H/2 Capital Partners LLC
	20.	Hudson Advisors
	21.	Investcorp International
	22.	iStar Financial Inc.
	23.	J.P. Morgan Investment Management Inc.
	24.	JER Partners
	25.	Lend-Lease Real Estate Investments
	26.	Libermax Capital LLC
	27.	LoanCore Capital
	28.	Lone Star Funds
	29.	Lowe Enterprises
	30.	Normandy Real Estate Partners
	31.	One William Street Capital Management, L.P.
	32.	Och-Ziff Capital Management Group/ OZ Management, L.P./ OZ Management II., L.P.
	33.	Praedium Group
	34.	Raith Capital Partners, LLC
	35.	Rialto Capital Management, LLC
	36.	Rialto Capital Partners LLC
	37.	Rimrock Capital Management LLC
	38.	Rockpoint Group
	39.	Rockwood
	40.	RREEF Funds
	41.	Square Mile Capital Management
	42.	Starwood Capital Group/Starwood Financial Trust
	43.	The Blackstone Group
	44.	The Carlyle Group

 

    C-1

     

    

  

	45.	Torchlight Investors
	46.	Walton Street Capital, L.L.C.
	47.	Westbrook Partners
	48.	WestRiver Capital
	49.	Wheelock Street Capital
	50.	Whitehall Street Real Estate Fund, L.P.

 

    C-2

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