Document:

Exhibit 4.21

 

 

 

CO-LENDER AGREEMENT

 

Dated as of March 10, 2017

 

by and between

 

MACQUARIE US TRADING LLC D/B/A PRINCIPAL COMMERCIAL
CAPITAL

(Initial Note A-1 Holder)

 

and

 

MACQUARIE US TRADING LLC D/B/A PRINCIPAL COMMERCIAL
CAPITAL

(Initial Note A-2 Holder)

 

Scripps Center Loan

 

     

     

    

 

TABLE OF CONTENTS

 

	 	Page
	 	 
	Section 1.       Definitions	1
	Section 2.       Servicing of the Mortgage Loan	13
	Section 3.       Priority of Payments	18
	Section 4.       Workout	19
	Section 5.       Administration of the Mortgage Loan	19
	Section 6.       Appointment of Controlling Note Holder Representative and Non-Controlling
Note Holder Representative	25
	Section 7.       Appointment of Special Servicer	27
	Section 8.       Payment Procedure	27
	Section 9.       Limitation on Liability of the Note Holders	28
	Section 10.     Bankruptcy	29
	Section 11.     Representations of the Note Holders	29
	Section 12.     No Creation of a Partnership or Exclusive Purchase Right	30
	Section 13.     Other Business Activities of the Note Holders	30
	Section 14.     Sale of the Notes	30
	Section 15.     Registration of the Notes and Each Note Holder	33
	Section 16.     Governing Law; Waiver of Jury Trial	34
	Section 17.     Submission To Jurisdiction; Waivers	34
	Section 18.     Modifications	35
	Section 19.     Successors and Assigns; Third Party Beneficiaries	35
	Section 20.     Counterparts	35
	Section 21.     Captions	36
	Section 22.     Severability	36
	Section 23.     Entire Agreement	36
	Section 24.     Withholding Taxes	36
	Section 25.     Custody of Mortgage Loan Documents	37
	Section 26.     Cooperation in Securitization	37
	Section 27.     Notices	39
	Section 28.     Broker	39
	Section 29.     Certain Matters Affecting the Agent	39
	Section 30.     Reserved	40
	Section 31.     Resignation of Agent	40
	Section 32.     Resizing	40

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    -i-

     

    

 

THIS CO-LENDER AGREEMENT (this
“Agreement”) dated as of March 10, 2017 by and between MACQUARIE US TRADING LLC D/B/A PRINCIPAL COMMERCIAL
CAPITAL (“PCC”), in its capacity as initial owner of Note A-1 (together with its successors, the
“Initial Note A-1 Holder”) and in its capacity as the initial agent (together with its successor, the
“Initial Agent”), PCC, in its capacity as initial owner of Note A-2 (together with its successors,
the “Initial Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial
Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Mortgage
Loan Agreement (as defined herein), PCC as lender (in such capacity, the “Original Lender”) originated
a certain loan (the “Mortgage Loan”) described on the schedule attached hereto as Exhibit A (the
“Mortgage Loan Schedule”) to the mortgage loan borrower described on the Mortgage Loan Schedule (the
“Mortgage Loan Borrower”), which was evidenced by a Secured Promissory Note dated as of February 1, 2017
in the original principal amount of $72,000,000.00 (the “Original Note”) and secured by a first mortgage
(as amended, modified or supplemented, the “Mortgage”) on certain real property located as described
on the Mortgage Loan Schedule (the “Mortgaged Property”);

 

WHEREAS, PCC and the Mortgage
Loan Borrower have agreed, pursuant to that certain Note Splitter and Modification Agreement, dated as of March 10, 2017, between
the Original Lender and the Mortgage Loan Borrower, to divide the Original Note into two separate pari passu promissory
notes: (i) Promissory Note A-1 in the original principal amount of $50,000,000.00 (“Note A-1”); and (ii)
Promissory Note A-2 in the original principal amount of $22,000,000.00 (“Note A-2”); and

 

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 respective meanings ascribed to such terms or
any one or more analogous terms 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.

 

“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 at any
time that the Lead Securitization Note is included in the Lead Securitization, shall mean the Master Servicer.

 

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“Agent Office”
shall mean the designated office of the Agent, which office at 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 Co-Lender Agreement, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

 

“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 under the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Commission”
shall have the meaning assigned to such term in Section 2(c)(ix).

 

“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).

 

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“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 “Controls”,
“Controlling” and “Controlled” shall have meanings correlative to the foregoing.

 

“Controlling Note”
shall mean Note A-1.

 

“Controlling Note
Holder” shall mean the holder of the Controlling Note; provided that at any time that 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 assigned
the rights 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 rights to exercise the rights of the “Controlling Note Holder” (as described above) is)
the Mortgage Loan Borrower or an Affiliate thereof, the Controlling Note (and such party assigned the rights 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 Citigroup Commercial Mortgage Securities Inc.

 

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

 

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

 

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

 

“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.

 

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

 

“Insolvency Proceeding”
shall mean any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency,
liquidation, reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of
the Mortgage Loan Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan
Borrower for the benefit of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver
or other similar custodian for all or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning
the adjustment of the debts of the Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following
a sale, transfer or other disposition of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction
permitted under the Mortgage Loan Documents; provided, that following any such permitted transaction affecting the title
to the Mortgaged Property, the term “Mortgage Loan Borrower” shall refer to 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 mean the Regular Interest Rate (as defined in the Mortgage Loan Documents).

 

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

 

“Intervening Trust
Vehicle” with respect to any Securitization Vehicle that is a CDO, shall mean a trust vehicle or entity 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 CDO.

 

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

 

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

 

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

 

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

 

“Lead Securitization
Servicing Agreement” shall mean either (i) the “pooling and servicing agreement” entered into in connection
with the Lead Securitization, or (ii) on and after

 

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the
date on which the Mortgage Loan is no longer subject to the provisions of the “pooling and servicing agreement” entered
into in connection with the Lead Securitization, the “Lead Securitization Servicing Agreement” determined in accordance
with the second paragraph of Section 2(a).

 

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

 

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

 

“Loan Combination
Custodial Account” shall mean the “Loan Combination Custodial Account” or analogous account established
for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

 

“Major Decision”
shall have the meaning given to such term or any analogous term in the Lead Securitization Servicing Agreement.

 

“Master Servicer”
shall mean the master servicer appointed under the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

“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 1, 2017, between 312 Walnut, LLC, a Delaware limited
liability company, as borrower, and Macquarie US Trading LLC d/b/a Principal Commercial Capital, as lender, as the same may be
further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

 

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

 

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“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.

 

“Non-Controlling
Note Holder” means the Note Holder that is not the Controlling Note Holder.

 

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

 

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

 

“Non-Lead Asset
Representations Reviewer” shall mean the party acting as “asset representations reviewer” (within the
meaning of Item 1101(m) of Regulation AB) under the Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization”
shall mean the Securitization of Note A-2 in a Securitization Trust to be designated by the Initial Note A-2 Holder.

 

“Non-Lead Securitization
Determination Date” shall have the meaning assigned to such term in Section 2(c)(iii).

 

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“Non-Lead Securitization
Note” shall mean Note A-2.

 

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

 

“Non-Lead Securitization
Servicing Agreement” shall mean the “pooling and servicing agreement”, “trust and servicing agreement”
or “servicing agreement” entered into in connection with the Non-Lead Securitization.

 

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

 

“Non-Lead Securitization
Trust” shall mean the Securitization Trust that holds the Non-Lead Securitization Note.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Notes”
shall mean, collectively, Note A-1 and Note A-2.

 

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

 

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

 

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

 

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

 

“PCC”
shall have the meaning assigned to such term in the preamble to this 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 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).

 

“Property Advance”
shall mean a “Property Advance” as defined in the Lead Securitization Servicing Agreement.

 

“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:

 

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(a)          an
entity Controlled by, Controlling or under common Control with, or either 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 at least two (2) of the Rating Agencies that assigned a
rating to one or more classes of securities issued in connection with a Securitization (it being understood that with respect to
any Rating Agency that assigned such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation
will not be required in connection with a transfer of 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 acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note 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

 

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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 (c)(i), (ii), (iv)(B) or (v) above or approved by the Rating Agencies
hereunder as a Qualified Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have stated they
would not review such entity in connection with the subject transfer.

 

“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.

 

“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

 

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rating
agency reasonably designated 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 the Notes are assets of one or more Securitizations, “Rating Agencies”
or “Rating Agency” shall mean only those rating agencies that are engaged from time to time to rate the securities
issued in connection with the Securitizations of the Notes.

 

“Rating Agency
Confirmation” shall have the meaning given thereto or any analogous term in the Lead Securitization Servicing Agreement.

 

“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, in each case as effective from time to time as of the compliance
dates specified therein.

 

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

 

“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, (A) such special servicer confirms in writing that it was appointed to act as, and
currently serves as, special servicer on a transaction-level basis on the closing date of a commercial mortgage loan securitization
with respect to which Moody’s rated one or more classes of certificates and one or more of such classes of certificates are
still outstanding and rated by Moody’s, and (B) Moody’s has not cited servicing concerns with respect to such special
servicer as the sole or a 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 rated by Moody’s in any other commercial
mortgage-backed securities transaction serviced by such special servicer prior to the time of determination, (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, (a) if acting as special servicer in a commercial
mortgage loan securitization that was rated by KBRA within the twelve (12) month period prior to the date of determination, such
special servicer has not been downgraded or had withdrawn the then current rating on any class of commercial mortgage securities
or had 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 the sole or a material reason for such downgrade or withdrawal (or placement
on watch) or (b) if not acting as special servicer in a commercial mortgage loan securitization that was rated by KBRA in such

 

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twelve
(12) month period, such special servicer receives a Rating Agency Confirmation from such Rating Agency, and (vi) in the case of
DBRS, such special servicer is currently acting as a special servicer in a CMBS transaction rated by DBRS (as to which CMBS transaction
there are outstanding CMBS rated by DBRS) and has not been cited by DBRS as having servicing concerns that are the sole or a material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in a CMBS transaction serviced by such special servicer prior to the time
of determination.

 

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

 

“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 one or more sales by a Note Holder of all or a portion of such Note to a depositor, who will in turn include such Note
or portion thereof as part of a securitization of one or more mortgage loans.

 

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

 

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

 

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

 

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

 

“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.

 

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

 

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“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.

 

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

 

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

 

Section
2.             
Servicing of the Mortgage Loan.

 

(a)          
Each Note Holder acknowledges and agrees that, subject in each case to
this Agreement, the Mortgage Loan shall be serviced from and after the Securitization Date pursuant to 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 (including a determination of recoverability thereunder). Each Note Holder acknowledges
that the other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and agrees that it will,
subject to Section 26, 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 as the initial Special Servicer under the Lead Securitization Servicing Agreement by the Depositor (subject to replacement
by the Controlling Note Holder as provided herein) 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

 

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Servicing
Agreement). In no event shall the Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note
Holder or limit the Servicer in enforcing the rights of one Note Holder against the other Note Holder; however, this statement
shall not be construed to otherwise limit the rights of one Note Holder with respect to the other Note Holder. Each Servicer shall
be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage Loan in accordance with the Servicing
Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, and shall
not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

At any time that the Mortgage
Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to cause the
Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant to a servicing
agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all references herein
to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided, that
if the Non-Lead Securitization Note is in a Securitization, then a written confirmation shall have been obtained from each Rating
Agency that the appointment of the servicer(s) pursuant to such subsequent servicing agreement would not, in and of itself, cause
a downgrade, qualification or withdrawal of the then-current ratings assigned to the securities issued in connection with such
Securitization; provided, further, that until a replacement servicing agreement has been entered into, the Lead Securitization
Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing Agreement
as if such agreement were still in full force and effect with respect to the Mortgage Loan, by the Servicer in the Lead Securitization
or by any Person appointed by the Lead Securitization Note Holder that is a qualified servicer meeting the requirements of the
Lead Securitization Servicing Agreement.

 

(b)           The Master Servicer shall be the master servicer on the Mortgage Loan,
and from time to time it (or the Trustee, to the extent provided in the Lead Securitization Servicing Agreement) (i) shall be required
to make Property Advances with respect to the Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement
and this Agreement, and (ii) may be required to make P&I Advances on the Lead Securitization Note, if and to the extent provided
in the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as
applicable, will be entitled to reimbursement for a Property Advance, first from funds on deposit in the Loan Combination
Custodial Account for the Mortgage Loan that (in any case) 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 Nonrecoverable Property Advances,
if such funds on deposit in the Loan Combination Custodial 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, will be entitled to reimbursement for Advance
Interest Amounts on a Property Advance or a Nonrecoverable Property 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

 

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Servicer,
the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization as a reimbursement
for a Nonrecoverable Property Advance or any Advance Interest Amounts on a Property Advance or a Nonrecoverable Property Advance,
the Non-Lead Securitization Note Holder (including from general collections or any other amounts from any Non-Lead Securitization
Trust) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for its pro
rata share of such Nonrecoverable Property Advance or Advance Interest Amounts.

 

In addition, the Non-Lead Securitization
Note Holder (including, but not limited to, any Non-Lead Securitization Trust) shall be required to, promptly following notice
from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for the Non-Lead Securitization Note
Holder’s pro rata share of any Additional Trust Fund Expenses with respect to the Mortgage Loan or the Mortgaged Property,
any other fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan as to which
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations
Reviewer or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement,
and any fees, costs or expenses related to obtaining a Rating Agency Confirmation, in each case to the extent amounts on deposit
in the Loan Combination Custodial 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). The Non-Lead Securitization Holder
agrees to indemnify (i) (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following
parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of Lead Securitization Servicing
Agreement) each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor,
the Asset Representations Reviewer and the Depositor (and any director, officer, employee or agent of any of the foregoing, to
the extent such parties are identified as indemnified parties in the Lead Securitization Servicing Agreement in respect of other
mortgage loans) and (ii) the Lead Securitization Trust (such parties in clause (i) and the Lead Securitization Trust, collectively,
the “Indemnified Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees and
related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with 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
Loan Combination Custodial Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of
such amounts, the Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer,
the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency
(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).

 

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

 

(c)          
Reserved.

 

(d)           The Non-Lead Securitization Note Holder agrees that it shall cause the
Non-Lead Securitization Servicing Agreement to contain the following provisions (and to the extent such provisions are not included
in the Non-Lead Securitization Servicing Agreement, each party to the Non-Lead Securitization Servicing Agreement shall be bound
by the following provisions, which shall be deemed incorporated in such agreement and made a part thereof):

 

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

 

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

 

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(iii)       the Non-Lead Master Servicer, the Non-Lead Certificate Administrator or
the Non-Lead Trustee will be required to deliver to the Trustee, the Certificate Administrator, the Special Servicer, the Master
Servicer and the Operating Advisor (i) prompt notice of the deposit of the Non-Lead Securitization Note into a Securitization Trust
(which notice shall also provide contact information for the Non-Lead Trustee, the Non-Lead Certificate Administrator, the Non-Lead
Master Servicer, the 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 executed Non-Lead Securitization Servicing Agreement
and (ii) notice of any subsequent change in the identity of the Non-Lead Master Servicer, the Non-Lead Trustee or the party designated
to exercise the rights of the “Non-Controlling Note Holder” under this Agreement (together with the relevant contact
information); and

 

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

 

(e)         
The Initial Note A-1 Holder shall:

 

(i)         INTENTIONALLY DELETED;

 

(ii)        on the closing date of the Lead Securitization, send a copy (in EDGAR-compatible
format) of the Lead Securitization Servicing Agreement to the other Note Holder; and

 

(iii)       give the other Note Holder written notice in accordance with the Lead Securitization
Servicing Agreement or, if not provided therein, in a timely manner (but no later than one (1) Business Day prior to the applicable
filing date) of any filing with the Commission subsequent to the Securitization Date relating to the Lead Securitization Servicing
Agreement.

 

Section
3.            
Priority of Payments.
Each Note shall be of equal priority, and no portion of either Note shall have priority or preference over any portion of the 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 Monthly Payments, 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), but excluding
(x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the
terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on account of recoveries
in respect of property protection expenses or Property

 

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Advances
then due and payable or reimbursable to the Trustee or any Servicer and (y) all amounts that are then due, payable or reimbursable
(except for (i) any reimbursements of P&I Advances previously made (and interest thereon) on the Lead Securitization Note,
and (ii) any Servicing Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of
that portion of such Servicing Fees calculated at the “primary servicing fee rate” (or analogous term) applicable
to the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement) to any Servicer or the Trustee, with respect
to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (including without limitation, any Additional Trust
Fund Expenses relating to the Mortgage Loan (but subject to second paragraph of Section 5(d) hereof) reimbursable to, or payable
to, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Assumption Fees, Modification Fees, Penalty Charges
(to the extent provided in the immediately following paragraph) and any other additional compensation payable pursuant to the
Lead Securitization Servicing Agreement), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes
on a Pro Rata and Pari Passu Basis.

 

For clarification purposes, Penalty
Charges paid on each Note shall first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount
necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Property Advances and
reimbursement of any Property 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, Non-Lead
Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by such party
(if and as specified in the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement, as applicable),
third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay Additional
Trust Fund Expenses (other than Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the
Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, (i) in the case of the remaining
amount of Penalty Charges, to be paid 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 but not limited to Section 5(c)) and
the Lead Securitization Servicing Agreement and subject to the rights and consents, where

 

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required,
of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the Master Servicer, the Special Servicer
or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole and exclusive authority with respect
to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation,
the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action or failure to act
by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate
the Mortgage Loan or institute any foreclosure action or other remedy, and the Non-Lead Securitization Note Holder shall have
no voting, consent or other rights whatsoever except as explicitly set forth herein with respect to the Lead Securitization Note
Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement
and the Lead Securitization Servicing Agreement, the Non-Lead Securitization Note Holder agrees that it shall have no right to,
and hereby presently and irrevocably assigns and conveys to the Lead Securitization Note Holder (or the Master Servicer, the Special
Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) the rights, if any, that such Note Holder has
to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the Mortgage Loan, or (ii) exercise
any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing
the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
shall not have any fiduciary duty to the Non-Lead Securitization Note Holder in connection with the administration of the Mortgage
Loan (but the foregoing shall not relieve the Lead Securitization Note Holder from the obligation to make any disbursement of
funds as set forth herein or its obligation to follow the Servicing Standard (in the case of the Master Servicer or the Special
Servicer) or any liability for failure to do so).

 

The Non-Lead Securitization 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 Mortgage 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 sell the Notes together in such manner as will be reasonably likely to realize a fair
price. Subject to the other provisions of this paragraph and the two following paragraphs and the applicable provisions of the
Lead Securitization Servicing Agreement, the Special Servicer shall accept the first (and, if multiple bids are contemporaneously
received, the highest) cash offer received from any Person that constitutes a fair price for such Defaulted Mortgage Loan. The
Special Servicer shall notify the Controlling Note Holder Representative and the Non-Controlling Note Holder Representative of
any inquiries or offers received regarding the sale of such Defaulted Mortgage Loan.

 

Whether any cash bid constitutes
a fair price for the Mortgage Loan shall be determined by the Special Servicer, if the highest bidder is a Person other than an
Interested Person, and by the Trustee, if the highest bidder is an Interested Person (provided that the Trustee may not be a bidder)
unless (i) the bid is equal to or greater than the applicable Purchase Price, (ii) the bid is the highest bid received and (iii)
at least two other bids are received from

 

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independent
third parties; provided, that no bid from an Interested Person shall constitute a fair price unless (i) it is the highest
bid received and (ii) at least two other bids are received from independent third parties. In all cases under this Agreement (except
to the extent the Trustee is not required to determine whether any cash bid constitutes a fair price for the Mortgage Loan pursuant
to the immediately preceding sentence), in determining whether any offer received from an Interested Person represents a fair
price for the Mortgage Loan, the Trustee 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 9-month period or, in the absence
of any such Appraisal, on a new Appraisal. The appraiser conducting any such new Appraisal shall be an Appraiser selected by (i)
the Special Servicer if no Interested Person is bidding with respect to the Mortgage Loan and (ii) the Trustee if an Interested
Person is so bidding. The cost of any such Appraisal shall be covered by, and shall be reimbursable as, a Property Advance. In
determining whether any such offer from a Person other than an Interested Person constitutes a fair price for the Mortgage Loan,
the Special Servicer shall take into account (in addition to the results of any Appraisal, updated Appraisal or narrative Appraisal
that it may have obtained pursuant to the Lead Securitization Servicing Agreement within the prior 9 months), and in determining
whether any offer from an Interested Person constitutes a fair price for the Mortgage Loan, any Appraiser shall be instructed
to take into account, 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. The Purchase Price for the
Mortgage Loan shall in all cases be deemed a fair price; provided, that with respect to Interested Parties, the requirements
of the first sentence of this paragraph must be satisfied. 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 may
(at its option and at the expense of the Interested Person) designate an independent third party expert in real estate or commercial
mortgage loan matters with at least 5 years’ experience in valuing or investing in loans similar to the 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 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 behalf of the Lead Securitization Note Holder) shall not
be permitted to sell the Mortgage Loan if it becomes a Defaulted Mortgage Loan without the written consent of the Non-Controlling
Note Holder (provided that such consent is not required if the Non-Controlling Note Holder is the Mortgage Loan Borrower or an
Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to the Non-Controlling Note Holder: (a) at least
15 Business Days’ prior written notice of any decision to attempt to sell the Mortgage Loan, (b) at least 10 days prior to
the proposed sale date, a copy of each bid package (together with any material amendments to such bid packages) received by the
Special Servicer in connection with any such proposed sale, (c) at least 10 days prior to the proposed sale date, a copy of the
most recent Appraisal for the Mortgage Loan, and any documents in the Servicing File reasonably

 

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requested
by the Non-Controlling Note Holder that are material to the price of the Mortgage Loan and (d) until the sale is completed, and
a reasonable period of time (but no less time than is afforded to other offerors and the Lead Securitization Subordinate 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 any Servicer in connection with the proposed sale; provided, that the Non-Controlling
Note Holder may waive any of the delivery or timing requirements set forth in this sentence. Subject to the terms of the Lead
Securitization Servicing Agreement, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling
Note Holder and the Non-Controlling Note Holder Representative shall be permitted to bid at any sale of the Mortgage Loan unless
such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

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

 

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

 

(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

 

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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 both Note Holders as a collective whole. 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 and/or the Trustee on behalf of the Lead Securitization Note Holder.
The Lead Securitization Servicing Agreement shall not be amended in any manner that may materially and adversely affect the Non-Lead
Securitization Note Holder without the Non-Lead Securitization Note Holder’s prior written consent. The Non-Lead Securitization
Note Holder (unless it is the same Person as or 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)          
The Controlling Note Holder (or its Controlling Note Holder Representative)
shall have, with respect to the Mortgage Loan, all of the same rights and powers of the Controlling Class Representative under
the Lead Securitization Servicing Agreement with respect to the other mortgage loans included in the Lead Securitization, without
limitation, the right to consent and/or consult regarding Major Decisions and other servicing matters, the right to advise (1)
the Special Servicer with respect to all Specially Serviced Loans and (2) the Special Servicer with respect to non-Specially Serviced
Loans as to all matters for which the Master Servicer must obtain the consent or deemed consent of the Special Servicer, and the
right to direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Mortgage Loan as
the Controlling Class Representative may deem advisable or as to which provision is otherwise made therein, in each case subject
to the terms and conditions of the Lead Securitization Servicing Agreement.

 

(d)           Notwithstanding the foregoing, the Lead Securitization Note Holder (or
the Master Servicer or the Special Servicer acting on its behalf) shall be required (i) to provide copies of any notice, information
and report that it is required to provide to the Lead Securitization Subordinate 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, to the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), within
the same time frame it is required to provide such notice, information or report to the Lead Securitization Subordinate Class Representative
(for this purpose, without regard to whether such items are actually required to be provided to the Lead Securitization Subordinate
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 consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports, the 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 the 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 the Non-

 

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Controlling
Note Holder (or its Non-Controlling Note Holder Representative) by the Lead Securitization Note Holder of written notice of a
proposed action, together with copies of the notice, information and report that would be required to be provided to the Lead
Securitization Subordinate Class Representative as set forth above, 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 the Non-Controlling Note Holder (or
its Non-Controlling Note Holder Representative), whether or not the 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 the Non-Controlling Note Holder
(or its Non-Controlling Note Holder Representative) set forth in the immediately preceding sentence, the Lead Securitization Note
Holder (or Master Servicer or Special Servicer, acting on its behalf) may make any Major Decision or take any action set forth
in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Lead Securitization
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, the Non-Controlling Note Holder shall have the right to attend annual meetings
(which may be held telephonically or in person, at the discretion of the Servicer) 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.

 

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

 

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Each
Note Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC provisions in the Lead
Securitization Servicing Agreement relating to the administration of the Mortgage Loan.

 

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

 

(f)          
The Master Servicer shall remit all payments received with respect to the
Non-Lead Securitization Note, net of the servicing fees payable to the Master Servicer and Special Servicer with respect to the
Non-Lead Securitization Note, and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer
and the Trustee, to the Non-Lead Securitization Note Holder by the earlier of (x) the Master Servicer Remittance Date (as defined
in the Lead Securitization Servicing Agreement) and (y) the Business Day following the Non-Lead Securitization Determination Date.

 

Section
6.             
Appointment of Controlling Note Holder Representative and Non-Controlling
Note Holder Representative.

 

(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 the Servicer or Trustee of such appointment and, if the Controlling Note Holder Representative
is not the same Person as the Controlling Note Holder, the Controlling Note Holder Representative provides any Servicer or Trustee
with written confirmation of its acceptance of such appointment, an address and facsimile number for the

 

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delivery
of notices and other correspondence and a list of officers or employees of such person with whom the parties to this Agreement
may deal (including their names, titles, work addresses and facsimile numbers). The Controlling Note Holder shall promptly deliver
such information to any Servicer. 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.

 

(b)           Neither the Controlling Note Holder Representative nor the Controlling
Note Holder will have any liability to the 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
the other Note Holder, and that the Controlling Note Holder Representative may have special relationships and interests that conflict
with the interests of a Note Holder and, absent willful misfeasance, bad faith 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.

 

(c)          
The Non-Controlling Note Holder shall have the right at any time to appoint
a representative in connection with the exercise of its rights and obligations with respect to the Mortgage Loan (the “Non-Controlling
Note Holder Representative”). All of the provisions relating to Controlling Note Holder and the Controlling Note
Holder Representative set forth in Section 6(a) (except those contained in the last sentence thereof) and Section 6(b) shall
apply to the Non-Controlling Note Holder and the Non-Controlling Note Holder Representative mutatis mutandis. The Non-Controlling
Note Holder Representative, as of the date of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer
and the Special Servicer) is notified otherwise, shall be the Initial Note A-2 Holder, provided that at any time Note A-2
is included in a Securitization, references to the “Non-Controlling Note Holder” herein shall mean the Non-Lead Securitization
Subordinate Class Representative or any other party assigned the rights to exercise the rights of the “Non-Controlling Note
Holder” hereunder, as and to the extent provided in the related Non-Lead 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.

 

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Section
7.            
Appointment of Special Servicer.
The Controlling Note Holder (or its Controlling Note Holder Representative) shall have the right at any time and from time to time,
with or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement
Special Servicer in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative)
of a Person to serve as Special Servicer shall be made by delivering to the other Note Holder, the Master Servicer, the then existing
Special Servicer and other parties to the Lead Securitization Servicing Agreement a written notice stating such designation and
satisfying the other conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without
limitation, a Rating Agency Confirmation, 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 the Non-Controlling Note Holder, the Non-Controlling Note Holder
shall have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust,
the Controlling Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement (or at any time
that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing
agreement pursuant to which the Mortgage Loan is being serviced) solely with respect to the Mortgage Loan pursuant to and in accordance
with the terms of the 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, the successor servicing agreement pursuant to which the Mortgage Loan
is being serviced). The Controlling Note Holder and the Non-Controlling Note Holder acknowledge and agree that any successor special
servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for cause at the Non-Controlling
Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that was so terminated without the prior
written consent of the Non-Controlling Note Holder. The Non-Controlling Note Holder shall be solely responsible for reimbursing
the Trustee’s or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable
time by the terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from
amounts on deposit in the Collection Account.

 

Section
8.             
Payment Procedure.

 

(a)          
The Lead Securitization Note Holder, in accordance with the priorities
set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited
all payments allocable to the Notes to the Loan Combination Custodial Account pursuant to and in accordance with the Lead Securitization
Servicing

 

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Agreement.
The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable
account within one (1) Business Day after 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 any
such amounts are received after 2:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially reasonable
efforts to deposit such amounts into the applicable account within one (1) Business Day of receipt thereof but, in any event,
the Master Servicer shall deposit such amounts into the applicable account within two (2) Business Days of receipt thereof.

 

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

 

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

 

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

 

Section
9.             
Limitation on Liability of the Note Holders.
Each Note Holder shall have no liability to the other Note Holder with respect to its Note except with respect to losses

 

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

 

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

 

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

 

Section
11.           
Representations of the Note Holders.
Each Note Holder represents and warrants that the execution, delivery and performance of this Agreement is within its corporate
powers, has been duly authorized by all necessary corporate action, and does not contravene such

 

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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. Neither Note Holder shall have any
obligation whatsoever to offer to the other Note Holder the opportunity to purchase a participation interest in any future loans
originated by such Note Holder or its Affiliates and if either Note Holder chooses to offer to the other Note Holder the opportunity
to purchase a participation interest in any future mortgage loans originated by such Note Holder or its Affiliates, such offer
shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and absolute discretion. Neither Note
Holder shall have any obligation whatsoever to purchase from the other Note Holder a participation interest in any future loans
originated by such Note Holder or its Affiliates.

 

Section
13.          
Other Business Activities of the Note Holders.
Each Note Holder acknowledges that the other Note Holder or its Affiliates may make loans or otherwise extend credit to, and generally
engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any entity that is a holder of debt secured
by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder of a preferred equity interest
in the Mortgage Loan Borrower (each, a “Mortgage Loan Borrower Related Party”), and receive payments
on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely
and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

 

Section
14.           
Sale of the Notes.

 

(a)          
Each Note Holder agrees that it will not sell, assign, transfer, pledge,
syndicate, hypothecate, contribute, encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holder shall be provided with
(x) a representation from a

 

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transferee
or the applicable Note Holder certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer
in accordance with the immediately following sentence) and (y) a copy of the assignment and assumption agreement referred to in
Section 15 (unless in either such case the transferee is a Securitization Trust and the related pooling and servicing agreement
requires the parties thereto to comply with this Agreement). 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 the non-transferring
Note Holder and, if such non-transferring Note Holder’s Note is held in a Securitization Trust, a confirmation in writing
from each Rating Agency that such Transfer will not result in a qualification, downgrade or withdrawal of its then current rating
of the securities issued pursuant to the related Securitization. Notwithstanding the foregoing, without the non-transferring Note
Holder’s prior consent (which may not be unreasonably withheld), and, if such non-transferring Note Holder’s Note
is held in a Securitization Trust, without a confirmation in writing from each Rating Agency that such Transfer will not result
in a qualification, downgrade or withdrawal of its then current rating of the securities issued pursuant to the related 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 the non-transferring Note Holder
(including all expenses of the Master Servicer, the Special Servicer and the Trustee) and all expenses relating to the confirmation
from the Rating Agencies in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the
right, without the need to obtain the consent of the other Note Holder, 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 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 Mortgage 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 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, 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.

 

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

 

(c)          
Notwithstanding any other provision hereof, any Note Holder may pledge
(a “Pledge”) its Note to any entity (other than the Mortgage Loan Borrower or any Affiliate thereof)
which has extended a credit facility to such Note Holder and that is either a Qualified Institutional Lender or a financial institution
whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency (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 the other Note Holder and any Servicer that a Pledge has been effected (including the name and address of the applicable
Note Pledgee), the other Note Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give such 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 the other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure
any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against such
Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or
delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any notice of default under this Agreement
simultaneously with the giving of same to the pledging Note Holder; (v) that such other Note Holder shall deliver to Note Pledgee
such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in
a form reasonably satisfactory to such other Note Holder; and (vi) that, upon written notice (a “Redirection Notice”)
to the other Note 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 the 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

 

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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;

 

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

 

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

 

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

 

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

 

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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 the other Note Holder. To the extent the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby
designates such person as its agent under this Section 15 solely for purposes of maintaining the Note Register.

 

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

 

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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 receiving a written confirmation from each Rating Agency that such amendment or modification will not result in a qualification,
withdrawal or downgrade of its then current ratings of the securities issued in connection with a Securitization; provided
that no such confirmation from the Rating Agencies shall be required in connection with a modification (i) to cure any ambiguity,
to correct or supplement any provisions herein that may be defective or inconsistent with any other provisions herein or with the
Lead Securitization Servicing Agreement, or (ii) to make other provisions with respect to matters or questions arising under this
Agreement, which shall not be inconsistent with the provisions of this Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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Holder
and at its sole cost and expense, shall defend any claim or action relating to the foregoing indemnification using counsel selected
by the Lead Securitization Note Holder.

 

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

 

Section
25.          
Custody of Mortgage Loan Documents.
The originals of all of the Mortgage Loan Documents (other than the Non-Lead Securitization Note) (a) prior to the Lead Securitization
will be held by the Initial Agent (or a custodian on its behalf) and (b) after the Lead Securitization, will be held by the Lead
Securitization Note Holder (in the name of the Trustee and held by a duly appointed custodian therefor in accordance with the Lead
Securitization Servicing Agreement), in each case, on behalf of the registered holders of the Notes.

 

Section
26.           
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 Lead Securitization Note Holder, the Non-Lead Securitization Note Holder shall use reasonable efforts,
at the Lead Securitization Note Holder’s expense, to satisfy, and to cooperate with the Lead Securitization

 

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Note
Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards to which the Lead Securitization Note
Holder customarily adheres or that may be reasonably required in the marketplace or by the Rating Agencies in connection with
the Securitization, including, entering into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage
Loan Documents and to cooperate with the Lead Securitization 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 the Securitization; provided, that either in connection with the Lead Securitization or otherwise at any time
prior to the Lead Securitization, the Non-Lead Securitization Note Holder shall not be required to modify or amend this Agreement
or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith, if such modification
or amendment would (i) change the interest allocable to, or the amount of any payments due to or priority of such payments to,
the Non-Lead Securitization Note Holder or (ii) materially increase the Non-Lead Securitization Note Holder’s obligations
or materially decrease the Non-Lead Securitization Note Holder’s rights, remedies or protections. In connection with the
Lead Securitization, the Non-Lead Securitization Note Holder agrees to provide for inclusion in any disclosure document relating
to the Lead Securitization such information concerning the Non-Lead Securitization Note Holder and the Non-Lead Securitization
Note as the Lead Securitization Note Holder reasonably determines to be necessary or appropriate, and the Non-Lead Securitization
Note Holder covenants and agrees that it shall, at the Lead Securitization Note Holder’s expense, cooperate with the reasonable
requests of each Rating Agency and Lead Securitization Note Holder in connection with the Lead Securitization (including, without
limitation, reasonably cooperating with the Lead Securitization Noteholder (without any obligation to make additional representations
and warranties) to enable the Lead Securitization Noteholder to make all necessary certifications and deliver all necessary opinions
(including customary securities law opinions) in connection with the Mortgage Loan and the Lead 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 the Non-Lead Securitization Note Holder and the Non-Lead Securitization Note in any
Securitization document. The Non-Lead Securitization Note Holder acknowledges that the information provided by it to the Lead
Securitization Note Holder may be incorporated into the offering documents for the Lead Securitization. The Lead Securitization
Note Holder and each Rating Agency shall be entitled to rely on the information supplied by, or on behalf of, the Non-Lead Securitization
Note Holder. The Lead Securitization Note Holder will reasonably cooperate with the Non-Lead Securitization Note Holder by providing
all information reasonably requested that is in the Lead Securitization Note Holder’s possession in connection with the
Non-Lead Securitization Note Holder’s preparation of disclosure materials in connection with a Securitization.

 

Upon request, the Lead Securitization
Note Holder shall deliver to the Non-Lead Securitization Note Holder drafts of the preliminary and final Lead Securitization offering
memoranda, prospectus supplement, free writing prospectus and any other disclosure documents and the Lead Securitization Servicing
Agreement and provide reasonable opportunity to review and comment on such documents.

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    38 

     

    

 

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

 

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

 

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

 

Section
29.           
Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

Document No. 6659612

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Co-Lender Agreement

 

    39 

     

    

 

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

 

(e)          
The Agent shall not be bound to make any investigation into the facts or
matters stated in any officer’s certificate or assignment and assumption agreement delivered to the Agent pursuant to Section
15;

 

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

 

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

 

Section
30.           
Reserved.

 

Section
31.          
Resignation of Agent.
The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to
the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory
to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. The 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, the 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 the Initial Agent or any successor thereto prior to such Securitization without any further
notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead Securitization
Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this Agreement, and any
successor master servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place
thereof without any further notice or other action.

 

Section
32.          
Resizing.
Notwithstanding any other provision of this Agreement, for so long as PCC or an affiliate thereof (a “PCC Entity”)
is the owner of the Non-Lead Securitization Note (the “Owned Note”), such PCC Entity shall have the right,
subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes
or additional notes (in either case, “New Notes”) reallocating the principal of the Owned Note to such
New Notes; or severing the Owned Note into one or more further “component” notes in the aggregate principal amount
equal to the then outstanding principal balance of the Owned Note provided that (i) the aggregate principal balance of all outstanding
New Notes following such amendments is no greater than the principal balance of the Owned Note prior to such amendments, (ii) all
Notes continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro
rata and on a pari passu basis (including after a default and in connection with a condemnation or prepayment) and

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    40 

     

    

 

such
reallocated or component notes shall be automatically subject to the terms of this Agreement, and (iv) the PCC Entity holding
the New Notes shall notify the Lead Securitization Note Holder and, if applicable, the Master Servicer, the Special Servicer,
the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts. If the Lead Securitization
Note Holder so requests, the PCC 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
modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified or
amended without the consent of its holder and the consent of the holder of the other Note. In connection with the foregoing (provided
the conditions set forth in clauses (i) through (iv) above are satisfied, as certified by the PCC 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 this Agreement, including exercising
the rights of the Non-Controlling Note Holder hereunder, 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 the Note A-2 Holder, as the Note A-2 Holder for all purposes of this Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    41 

     

    

 

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

 

	 	MACQUARIE
US TRADING LLC D/B/A PRINCIPAL COMMERCIAL CAPITAL,
 as Initial Note
A-1 Holder
	 	 
	 	By:	/s/ Philip R. Miller
	 	 	Name: Philip R. Miller
	 	 	Title: Managing Director
	 	 	 
	 	By:	/s/ Paolo Belfiglio
	 	 	Name: Paolo Belfiglio
	 	 	Title: Division Director
	 	 	 
	 	MACQUARIE
US TRADING LLC D/B/A PRINCIPAL COMMERCIAL CAPITAL,

as Initial Note A-2 Holder
	 	 
	 	By:	/s/ Philip R. Miller
	 	 	Name: Philip R. Miller
	 	 	Title: Managing Director
	 	 	 
	 	By:	/s/ Paolo Belfiglio
	 	 	Name: Paolo Belfiglio
	 	 	Title: Division Director

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

     

     

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	312 Walnut LLC
	Date of Mortgage Loan:	February 1, 2017
	Date of Notes:	March 10, 2017
	Original Principal Amount of Mortgage Loan:	$72,000,000.00
	Principal Amount of Mortgage Loan as of the date hereof:	$72,000,000.00
	Initial Note A-1 Principal Balance:	$50,000,000.00
	Initial Note A-2 Principal Balance:	$22,000,000.00
	Location of Mortgaged Property:	312 Walnut Street, Cincinnati, OH 45202
	Initial Maturity Date:	February 1, 2027

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    A-1 

     

    

 

EXHIBIT B

 

Initial Note A-1 Holder and Initial Note A-2 Holder:

 

Macquarie US Trading LLC d/b/a Principal Commercial Capital

125 West 55th Street

New York, New York 10019

Attention: Joshua Karlin

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    B-1 

     

    

 

EXHIBIT C

 

PERMITTED FUND MANAGERS

 

		1.	Westbrook Partners

		2.	DLJ Real Estate Capital Partners

		3.	iStar Financial Inc.

		4.	Capital Trust, Inc.

		5.	Lend-Lease Real Estate Investments

		6.	Archon Capital, L.P.

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

		8.	The Blackstone Group International Ltd.

		9.	Apollo Real Estate Advisors

		10.	Colony Capital, Inc.

		11.	Praedium Group

		12.	J.E. Robert Companies

		13.	Fortress Investment Group LLC

		14.	Lonestar Opportunity Fund

		15.	Clarion Partners

		16.	Walton Street Capital, LLC

		17.	Starwood Financial Trust

		18.	BlackRock, Inc.

		19.	Rialto Capital Management, LLC

		20.	Rialto Capital Advisors, LLC

		21.	Raith Capital Partners, LLC

		22.	Eightfold Real Estate Capital, L.P.

		23.	Perella Weinberg Partners

		24.	Square Mile Capital Management LLC

 

Document No. 6659612

Loan No. 757958

Scripps Center, Cincinnati OH

Co-Lender Agreement

 

    C-1Exhibit 4.22

 

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

 

    -15- 

     

    

 

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

 

    -16- 

     

    

 

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.

 

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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

 

    -19- 

     

    

 

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

 

    -22- 

     

    

 

(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

 

    -23- 

     

    

 

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

 

    -24- 

     

    

 

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

 

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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

 

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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

 

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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

 

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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;

 

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(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.

 

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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]

 

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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-1

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