Document:

Exhibit 4.21

 

EXECUTION VERSION 

	 

 

Manchester Financial Building

 

CO-LENDER AGREEMENT

 

Dated as of November 16, 2017

 

between

 

CANTOR COMMERCIAL REAL ESTATE LENDING, L.P.

(Note A-1 Holder) 

 

and

 

CANTOR COMMERCIAL REAL ESTATE LENDING, L.P

(Note A-2 Holder)  

	 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	Page
	 	 
	1.          Definitions; Conflicts.	2
	2.          Servicing of the Mortgage Loan.	11
	3.          Priority of Notes.	13
	4.          Workout.	14
	5.          Accounts; Payment Procedure.	14
	6.          Limitation on Liability.	15
	7.          Representations of the Holders.	15
	8.          Independent Analyses of each Holder.	16
	9.          No Creation of a Partnership or Exclusive Purchase Right.	16
	10.        Not a Security.	16
	11.        Other Business Activities of the Holders.	16
	12.        Transfer of Notes.	17
	13.        Exercise of Remedies by the Servicer.	19
	14.        Rights of the Directing Holder.	21
	15.        Appointment of Special Servicer.	22
	16.        Rights of the Non-Directing Holders.	22
	17.        Advances; Reimbursement of Advances.	23
	18.        Provisions Relating to Securitization.	24
	19.        Governing Law; Waiver of Jury Trial.	29
	20.        Modifications.	29
	21.        Successors and Assigns; Third Party Beneficiaries.	30
	22.        Counterparts.	30
	23.        Captions.	30
	24.        Notices.	30
	25.        Custody of Mortgage Loan Documents.	30

 

    -i- 

     

    

 

THIS CO-LENDER AGREEMENT
(the “Agreement”), dated as of November 16, 2017, is between CANTOR COMMERCIAL REAL ESTATE LENDING, L.P.,
a Delaware limited partnership (“CCRE”), having an address at 110 East 59th Street, New York, New York 10022,
as the holder of Note A-1 and CCRE, as the holder of Note A-2. 

 

W I T N E S S E T H:

 

WHEREAS, CCRE has made
a mortgage loan in the original principal amount of $25,500,000 (the “Mortgage Loan”) to Manchester Financial
Building, LLC, a Delaware limited liability company (the “Borrower”) pursuant to a loan agreement between the
Borrower, as borrower, and CCRE, as lender, dated as of September 12, 2017 (the “Loan Agreement”);

 

WHEREAS, the Mortgage
Loan is evidenced by two notes, Promissory Note A-1 in the original principal amount of $15,000,000, and Promissory Note A-2 in
the original principal amount of $10,500,000 (“Note A-1” and “Note A-2” respectively and
individually, each, a “Note” and collectively the “Notes”);

 

 

WHEREAS, the Mortgage
Loan is secured by a first mortgage lien (the “Mortgage”) on the real property known as Manchester Financial
Building (the “Mortgaged Property”);

 

WHEREAS, CCRE intends
(but is not bound) to sell, transfer and assign its right, title and interest in and to all or a portion of Note A-1 to UBS Commercial
Mortgage Securitization Corp. (“UBS Depositor”) as depositor, pursuant to a Mortgage Loan Purchase Agreement,
to be dated as of November 1, 2017, by and between UBS Depositor, as purchaser, and CCRE, as seller, and UBS Depositor intends
to transfer its right, title and interest in and to Note A-1 to Wells Fargo Bank, National Association, as trustee for the UBS
Commercial Mortgage Trust 2017-C5 pursuant to a pooling and servicing agreement, to be dated as of November 1, 2017 (the “Note
A-1 PSA”), between UBS Depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer
and as special servicer, Wells Fargo Bank, National Association, as trustee and as certificate administrator, paying agent and
custodian and Park Bridge Lender Services, LLC, as operating advisor and asset representations reviewer; provided, however,
that CCRE may sell, transfer and assign Note A-1 to another depositor for deposit into another securitization trust (such sales,
transfers and assignments, the “Note A-1 Securitization”);

 

WHEREAS, CCRE intends
(but is not bound) to sell, transfer and assign its right, title and interest in and to all or a portion of Note A-2 to one or
more depositors who will in turn sell, transfer and assign the same to one or more trusts as part of the securitization of one
or more mortgage loans (such sales, transfers and assignments, the “Note A-2 Securitization”);

 

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

 

     

     

    

  

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

 

1.       Definitions;
Conflicts.

 

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

 

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

 

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

 

“Affiliate”
shall mean with respect to any specified Person, any other Person controlling or controlled by or under common control with such
specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative
to the foregoing.

 

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

 

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

 

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

 

“Borrower Party
Affiliate”: With respect to a borrower, a mortgagor, a manager of a Mortgaged Property or a restricted mezzanine holder,
(a) any other person controlling or controlled by or under common control with such borrower, mortgagor, manager or restricted
mezzanine holder, as applicable, (b) any other person owning, directly or indirectly, 25% or more of the beneficial interests in
such borrower, mortgagor or manager, as applicable, or (c) any other person owning, directly or indirectly, 25% or more of the
beneficial interests in such restricted mezzanine holder. For the purposes of this definition, “control” when used
with respect to any specified person means the power to direct the management and policies of such person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

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

 

“CCRE”
shall mean Cantor Commercial Real Estate Lending, L.P. 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 Securitization or the Note A-2 Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Directing Holder”
shall mean the Note A-1 Holder, or if Note A-1 is included in a Securitization, the holders of the Note A-1 Securitization Certificates
representing the specified interest in the class of Certificates designated as the “controlling class” or the duly
appointed representative of the holders of such Certificates or such other party that the Note A-1 Holder

 

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grants the right to exercise
the rights granted to the Directing Holder in this Agreement; provided, that no Borrower, property manager or Borrower Party
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 Fees, as applicable, reimbursement of costs and expenses,
reimbursement of Property Advances and interest thereon at the Reimbursement Rate;

 

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

 

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

 

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

 

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

 

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

 

“Lead Note”
shall mean Note A-1.

 

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

 

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

 

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

 

     -4-

     

    

 

“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.

 

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

 

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

 

“Master Servicer
Remittance Date” shall mean:

 

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

 

(ii)        with
respect to Note A-2, prior to the securitization of Note A-2, the “Master Servicer Remittance Date” (or analogous term)
as defined in the Servicing Agreement, and on or after the securitization of Note A-2, the first Business Day after the “determination
date,” as such term or a similar term is defined in the Note A-2 PSA; provided, however, that such date is at least
one Business Day after the scheduled monthly payment date with respect to the Mortgage Loan.

 

For the avoidance of
doubt, any late collections received by the Master Servicer after the related due date under the Mortgage Loan shall be remitted
by the Master Servicer in accordance with Section 18(d)(vii) below.

 

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

 

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

 

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

 

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

 

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

 

     -5-

     

    

 

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

 

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

 

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

 

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

 

“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.

 

“Mortgage Loan
Seller” shall mean CCRE and its successors in interest and/or any transferee of CCRE that deposits all or a portion of
a Note into a securitization.

 

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

 

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

 

“Non-Lead Master
Servicer” shall mean, with respect to any Non-Lead Note (other than a Non-Lead Note that is included in a Lead Securitization),
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 (other than a Non-Lead Note that is included in the Lead Securitization).

 

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

 

“Non-Lead Servicing
Agreements” shall mean the PSA with respect to each Non-Lead Note (other than a Non-Lead Note that is included in the
Lead Securitization).

 

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

 

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

 

“Note A-1 Holder”
shall mean CCRE or any subsequent holder of Note A-1.

 

     -6-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     -7-

     

    

 

“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 outstanding principal balance of its Note in relation to the outstanding principal balance of the entire Mortgage
Loan of such particular payment, collection, cost, expense, liability or other amount.

 

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

 

“Qualified Servicer”
shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,” in the case of a
special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the S&P Select Servicer
List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, (3) as to which
neither Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor in any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by such servicer prior to the
time of determination, (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,

 

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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 CCRE (or an Affiliate of CCRE) or one or more of the following (other than a Borrower or any entity which is a Borrower
Party Affiliate):

 

(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 “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

 

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

 

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

 

     -10-

     

    

 

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.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     -11-

     

    

 

“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 or hereunder.

 

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

 

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

 

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

 

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

 

“UBS Depositor”
shall mean UBS Commercial Mortgage Securitization Corp. and its successors in interest.

 

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 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
pursuant to a servicing agreement that is substantially similar to the Servicing Agreement (and, if any Non-Lead Note is in a
Securitization, a Rating Agency Confirmation from the Rating Agencies that were engaged by the Depositor to rate such Securitization
shall be obtained) and all references herein to the “Servicing Agreement” shall mean such subsequent Servicing
Agreement; provided, however,

 

     -12-

     

    

 

that until a replacement Servicing
Agreement has been entered into (and such written 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 a Borrower Party Affiliate shall be deemed a third-party
beneficiary of such provisions of the Servicing Agreement. It is understood that any Non-Lead Note Holder may separately appoint
a servicer for its Non-Lead Note, by itself or together with other assets, but any such servicer will have no responsibility hereunder
and shall be compensated solely by the applicable Non-Lead Note Holder from funds payable to it hereunder or otherwise.

 

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

 

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

 

     -13-

     

    

 

 any such taxes, nor shall any disbursement
or payment otherwise distributable to the other Holders be reduced to offset or make-up any such payment or deficit.

 

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

 

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

 

4.         Workout.
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and Section 13 of this Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead
Note Holder, or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms
thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest Rate is reduced, (iii)
payments of interest or principal on Note A-1 or Note A-2 are waived, reduced or deferred or (iv) any other adjustment is
made to any of the payment terms of the Mortgage Loan, such modification shall not alter, and any modification of the
Mortgage Loan Documents shall be structured to preserve, the equal priorities of Note A-1 and Note A-2 as described in Section
3.

 

5.         Accounts;
Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the
Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder and the Note A-2 Holder hereby directs
the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the
Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing
Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account
for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable
to Note A-1 and Note A-2 by wire transfer to accounts maintained by the Note A-1 Holder and the Note A-2 Holder,
respectively; provided that any late collections received by the Master Servicer after the related due date under the
Mortgage Loan shall be remitted by the Master Servicer in accordance with Section 18(d)(vii) of this Agreement.

 

     -14-

     

    

 

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

 

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

 

(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

 

     -15-

     

    

 

to it or any of its assets, in each case which materially and adversely affect its ability
to carry out the transactions contemplated by this Agreement.

 

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

 

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

 

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

 

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

 

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

 

(viii)    It
is a Qualified Transferee.

 

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

 

     -16-

     

    

 

to the other Holders the opportunity to
purchase notes or interests relating to any future loans originated by such Holder or any of its Affiliates, and if any
Holder chooses to offer to any of the other Holders, the opportunity to purchase notes or interests in any future mortgage
loans originated by such Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such
Holder chooses, in its sole and absolute discretion. None of the Holders shall have any obligation whatsoever to purchase
from any other Holder any notes or interests in any future loans originated by any other Holder or any of its Affiliates.

 

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

 

11.       Other
Business Activities of the Holders. Each Holder acknowledges that the other Holders may make loans or otherwise extend
credit to, and generally engage in any kind of business with, any Borrower Party Affiliate, and receive payments on such
other loans or extensions of credit to any Borrower Party Affiliate 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 agrees it shall not
Transfer more than 49% (in the aggregate) of its beneficial interest in its Note, except to a Qualified Transferee, unless
(i) prior to a Securitization of any Note, the other Holders have consented to such Transfer, in which case the related
transferee (and its Affiliates) 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, or (iii) 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. With respect to any Transfers pursuant to (i) or (ii) above (except with respect to a Transfer to a
Securitization Trust) such transferee must (x) assume in writing the obligations of the transferring Holder hereunder and
agree to be bound by the terms and provisions of this Agreement and, if applicable, the Servicing Agreement and (y) remake
each of the representations and warranties contained herein for the benefit of the other Holders. Notwithstanding
the foregoing, without the non-transferring Holder’s prior consent (which will not be unreasonably withheld), and, if
such non-transferring Holder’s Note is in a Securitization, without a Rating Agency Confirmation from each Rating
Agency that has been engaged by the Depositor to rate the securities issued in connection with such Securitization, no Holder
shall Transfer all or any portion of its Note to a Borrower or a Borrower Party Affiliate and any such Transfer shall be
absolutely null and void and shall vest no rights in the purported transferee. None of the provisions of this Section 12(a)
shall apply in the case of a sale of Note A-1 together with Note A-2, in accordance with the terms and conditions of the Lead
Securitization PSA.

 

     -17-

     

    

 

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

 

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

 

     -18-

     

    

 

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 Borrower Party Affiliate) that is also a Qualified Transferee
at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and such Person’s successor
and assigns, as the successor to the pledging Holder’s rights, remedies and obligations under this Agreement, and any such
Note Pledgee or Qualified Transferee shall assume in writing the obligations of the pledging Holder hereunder accruing from and
after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and
provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d) shall remain effective as to any Holder
(and any Servicer) unless and until such Note Pledgee shall have notified such Holder (and any Servicer, as applicable) in writing
that its interest in the pledged Note has terminated.

 

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

 

     -19-

     

    

 

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 this Agreement and the Servicing Agreement to make any disbursement of funds as set forth herein).

 

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

 

(i)        Each
Non-Lead Note Holder has provided written consent to such sale; or

 

(ii)       The
Special Servicer has delivered the following notices and information to each Non-Lead Note Holder:

 

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

 

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

 

(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-Lead Note 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 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 a Borrower Party Affiliate).

 

     -20-

     

    

 

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

 

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

 

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

 

     -21-

     

    

 

Day (or 30 days with respect to an Acceptable Insurance Default) period, such Major Action shall be deemed to have
been approved by the Directing Holder.

 

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

 

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

 

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

 

15.        Appointment
of Special Servicer. Subject to the terms of the Servicing Agreement, the Directing Holder shall have the right at any
time and from time to time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage
Loan and appoint a Qualified Servicer as the replacement Special Servicer in lieu thereof. The Directing Holder shall
designate a Person to serve as Special Servicer by delivering to the other Holders (including, to the extent a Note is
included in a Securitization, the parties to the related 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.

 

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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 a Note has been included in a Non-Lead 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 a Borrower Party Affiliate 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 (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 and the related Non-Lead Master Servicer and/or the related Trustee will not be required to
make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer,
each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the
sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

 

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

 

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

 

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

 

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

 

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18.        Provisions
Relating to Securitization.

 

(a) New Notes. For so
long as a Note is not included in a Securitization, the Holder of such Note (the “Resizing 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 Resizing 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 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 Resizing Holder whose Note is being reallocated or split pursuant to this Section 18(a) shall
reimburse the other Holders for all costs and expenses incurred by the other Holders in connection with the reallocation or split.

 

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

 

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

 

(ii)        if
the applicable master servicer, special servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding
P&I Advance previously made, would be, or is, as applicable, a nonrecoverable advance, the master servicer shall

 

     -25-

     

    

 

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 Lead 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 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

 

(vi)       the
Master Servicer and the Special Servicer shall be third party beneficiaries of the foregoing provisions.

 

     -26-

     

    

 

(c)        Notice
to Parties to the Lead Securitization PSA. Each Non-Lead Note Holder shall provide the Depositor, the Trustee, the Servicer, and
the Special Servicer under the Lead Securitization PSA (as of the related Securitization Date) (provided such party is not also
a party to the Lead Securitization PSA) notice of the related Securitization in writing (which may be by email) prior to or promptly
following such Securitization Date. Such notice shall contain contact information for each of the parties to the related PSA and
the identity of the Controlling Class Representative under such PSA. In addition, after the Securitization Date for any other Notes,
the related Note 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 related Securitization Date) (provided such party is not also a party to the Lead Securitization
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, net of its Servicing
Fee and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the
Non-Lead Holder on the applicable Master Servicer Remittance Date; provided, that any late collections received by the Master
Servicer after the related due date under the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section
18(d)(vii) below;

 

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

 

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

 

     -27-

     

    

 

Securitization may require in order to comply with their obligations under the Securities
Act of 1933, as amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, and any other
applicable law. Without limiting the generality of the foregoing, each Lead Note Holder for a Lead Securitization shall provide
in a timely manner to the depositor and the Trustee for any prior Securitization a copy of the Lead Securitization PSA and each
Lead Servicer (at the expense of the Lead Note Holder) will be required, upon prior written request, to provide to the depositor
and the Trustee for any prior Securitization any other information required to comply in a timely manner with 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 (at the expense of the requesting party), 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.
To the extent a Lead Servicer (or a primary or sub-servicer servicing the Mortgage Loan pursuant to the Servicing Agreement) is
required by a Non-Lead Securitization party to deliver disclosure information pursuant to Regulation AB in a future Securitization
and, if such Lead Servicer is not also the Non-Lead Master Servicer, the applicable special servicer or other party to the related
Non-Lead Servicing Agreement, or a primary servicer who is a servicing function participant, or an Affiliate of the Mortgage Loan
Seller or material relationship in connection with such future Securitization, and therefore is not already providing such information
in connection with the future Securitization, the Mortgage Loan Seller shall be responsible for costs related to compliance with
the related requirements of Regulation AB. As used in this Agreement, “Regulation AB” means Subpart 229.1100 –
Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100-229.1125, as such may be amended from time to time, and
subject to such clarification and interpretation as have been provided by the United States Securities and Exchange Commission
(the “Commission”) or by the staff of the Commission, or as may be provided by the Commission or its staff from
time to time, in each case as effective from time to time as of the compliance dates specified therein. The Master Servicer, any
primary servicer and the Special Servicer, upon prior written request, shall each be required to provide certification and indemnification
to each Certifying Person with respect to the Sarbanes-Oxley Certification (or analogous terms) as such terms are defined in the
related Non-Lead Servicing Agreements;

 

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

 

(vii)      provide
that, with respect to any/each Non-Lead Note, 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 and available 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

 

     -28-

     

    

 

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 later collections to the Non-Lead Master Servicer within one Business
Day of receipt of properly identified and available funds but, in any event, the Master Servicer shall remit such amounts within
two Business Days of receipt of properly identified funds;

 

(viii)     provide
that the Non-Lead Note Holders 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;

 

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

 

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

 

(xi)       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;

 

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

 

(xiii)     provide
that “servicer termination events” (or any analogous term under the Servicing Agreement) include customary market termination
events with respect to failure to make advances, failure to remit payments to the Non-Lead 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 Securities Exchange Act of 1934, as amended,
the Securities Act of 1933, as amended, or Form SF-3, and for

 

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rating agency triggers with respect to any Certificates, subject
to customary grace periods (provided that, in the case of failures related to the securities laws, such grace periods will not
cause a depositor under a Non-Lead Servicing Agreement to fail to comply with the applicable provisions of such securities laws);
and

 

(xiv)     provide
that if a Non-Lead 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 and 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 and any such other applicable party to
the Non-Lead Servicing Agreement has not obtained such documents from the related Non-Lead Note Holder and such documents are in
the possession of the applicable party to the Servicing Agreement.

 

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

  

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

 

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

 

25.        Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Notes) will be held
by the Trustee (or by a custodian on its behalf) of the Lead Securitization under the terms of the Lead Securitization PSA on behalf
of all of the Holders.

 

[NO FURTHER TEXT ON THIS PAGE]

 

     -31-

     

    

 

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

 

	 	Note
               A-1 Holder:
	 	 
	 	CANTOR
               COMMERCIAL REAL ESTATE LENDING, L.P.
	 	 	 
	 	By:	/s/
                           Anthony Orso
			Name:
                                         Anthony Orso

                                         Title: CEO-CCRE

 

UBS
2017-C5 – CCRE Manchester Financial Building Co-Lender Agreement 

 

     

     

    

 

	 	Note A-2 Holder:
	 	 
	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P.
	 	 	 
	 	By:	/s/ Anthony Orso
			Name: Anthony Orso

Title: CEO-CCRE

 

UBS
2017-C5 –  CCRE Manchester Financial Building Co-Lender Agreement

 

     

     

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

		A.	Description of Mortgage Loan

 

	Borrower:	
        Manchester Financial Building,
LLC

         

	Mortgage Loan Origination Date:	September 12, 2017
	Initial Principal Amount of Mortgage Loan:	$25,500,000
	Co-Lender Closing Date Mortgage Loan Principal Balance:	$25,500,000
	Location of Mortgaged Property:	
        San Diego, California 

         

	Current Use of Mortgaged Property:	Office Building
	Mortgage Interest Rate:	
        Note A-1:        4.500% 

        Note A-2:        4.500% 

	Maturity Date:	October 6, 2027

 

     A-2

     

    

 

		B.	Description of Notes

 

	Mortgage Loan Origination Date:	September 12, 2017
	Initial Note A-1 Principal Balance:	$15,000,000
	Initial Note A-2 Principal Balance:	$10,500,000
	Initial Note A-1 Percentage Interest:	58.82%
	Initial Note A-2 Percentage Interest:	41.18%
	Note A-1 Interest Rate:	4.500%
	Note A-2 Interest Rate:	4.500%
	Note A-1 Default Interest Rate:	Lesser of (a) the maximum rate permitted by law or (b) five percent (5%) above the Note A-1 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

  

     A-2

     

    

 

EXHIBIT B

 

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

 

Cantor Commercial Real Estate Lending,
L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Facsimile No.: (212) 610-3623

email: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft
LLP

200 Liberty Street

New York, New York 10281

Attention: Lisa Pauquette, Esq.

Facsimile No.: (212) 504-6666 

email: lisa.pauquette@cwt.com

 

     B-1

     

    

 

EXHIBIT C

 

PERMITTED FUND MANAGERS

 

Westbrook Partners 

iStar Financial Inc. 

Capital Trust 

Archon Capital, L.P. 

Whitehall Street Real Estate Fund, L.P. 

The Blackstone Group 

Normandy Real Estate Partners 

Dune Real Estate Partners 

AllianceBernstein 

Rockwood 

RREEF Funds 

Hudson Advisors 

Artemis Real Estate Partners 

Apollo Real Estate Advisors 

Colony Capital, Inc. 

Praedium Group 

Fortress Investment Group, LLC 

Lonestar Opportunity Funds 

Clarion Partners 

Walton Street Capital, LLC 

Starwood Financial Trust 

BlackRock, Inc. 

Eightfold Real Estate Capital, L.P. 

Rialto Capital Management, LLC 

KKR Real Estate Finance Manager LLC 

Rialto Capital Advisors, LLC

 

     C-1Exhibit 4.22

 

Execution
Version

 

PRIMARY SERVICING AGREEMENT

 

CCUBS Commercial Mortgage Trust 2017-C1,

 

Commercial Mortgage Pass-Through Certificates

 

Series 2017-C1

 

Dated as of November 1, 2017

 

By and Between

 

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

 

Master Servicer

 

and

 

BERKELEY POINT CAPITAL LLC

 

Primary Servicer

 

 

    

     

    

 

TABLE OF CONTENTS

 

ARTICLE I.

 

	DEFINITIONS	1
	 	 
	 	Section 1.01.   Defined Terms	1
	 	 	 
	ARTICLE II.
	 	 
	RETENTION AND AUTHORITY OF PRIMARY SERVICER	3
	 	 
	 	Section 2.01.   Servicing Standard; Commencement of Servicing Responsibilities	3
	 	 	 
	 	Section 2.02.   Sub-Subservicing	3
	 	 	 
	 	Section 2.03.   Authority of Primary Servicer	4
	 	 	 
	ARTICLE III.
	 	 
	SERVICES TO BE PERFORMED	5
	 	 
	 	Section 3.01.   Services as Primary Servicer	5
	 	 	 
	 	Section 3.02.   Portfolio Manager	9
	 	 	 
	 	Section 3.03.   Maintenance of Errors and Omissions and Fidelity Coverage	9
	 	 	 
	 	Section 3.04.   Delivery and Possession of Servicing Files	10
	 	 	 
	 	Section 3.05.   Annual Compliance Statements	10
	 	 	 
	 	Section 3.06.   Annual Reports on Assessment of Compliance with the Servicing Criteria	11
	 	 	 
	 	Section 3.07.   Annual Independent Public Accountants’ Attestation Report	11
	 	 	 
	 	Section 3.08.   Sarbanes-Oxley Certification	12
	 	 	 
	 	Section 3.09.   Delivery of Mortgage Loan Purchase Agreement	13
	 	 	 
	ARTICLE IV.
	 	 
	PRESERVATION OF THE REMICS	13
	 	 
	ARTICLE V.
	 	 
	PRIMARY SERVICER’S COMPENSATION AND EXPENSES	13
	 	 
	 	Section 5.01.   Primary Servicing Compensation	13
	 	 	 
	ARTICLE VI.
	 	 
	THE MASTER SERVICER AND THE PRIMARY SERVICER	14
	 	 
	 	Section 6.01.   Primary Servicer Not to Assign; Merger or Consolidation of the Primary Servicer	14

 

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	 	Section 6.02.   Liability and Indemnification of the Primary Servicer and the Master Servicer	15
	 	 	 
	 	Section 6.03.   Representations and Warranties	18
	 	 	 
	ARTICLE VII.
	 	 
	PRIMARY SERVICER TERMINATION EVENTS; TERMINATION	19
	 	 
	 	Section 7.01.   Primary Servicer Termination Events; Primary Servicer Third Party Purchaser Non-Affiliate Covenant	19
	 	 	 
	 	Section 7.02.   Termination of Agreement	22
	 	 	 
	ARTICLE VIII.
	 	 
	MISCELLANEOUS PROVISIONS	24
	 	 
	 	Section 8.01.   Rating Agency Communications	24
	 	 	 
	 	Section 8.02.   Amendment	25
	 	 	 
	 	Section 8.03.   Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	25
	 	 	 
	 	Section 8.04.   Notices	26
	 	 	 
	 	Section 8.05.   Consistency with PSA; Severability of Provisions	27
	 	 	 
	 	Section 8.06.   Inspection and Audit Rights	27
	 	 	 
	 	Section 8.07.   Protection of Confidential Information	27
	 	 	 
	 	Section 8.08.   Binding Effect; No Partnership; Counterparts	27
	 	 	 
	 	Section 8.09.   Third Party Beneficiaries	
        28

	 	 	 
	 	Section 8.10.   Article and Section Headings	28

 

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LIST OF EXHIBITS

 

		Schedule I	Mortgage Loan Schedule

 

		Exhibit “A” 	Day One Report

 

		Exhibit “B” 	Inspection Reports

 

		Exhibit “C”	 Quarterly Reports

 

		Exhibit “D”	Remittance Reports

 

		Exhibit “E”	Form of Mortgagee Clause for Insurance
Policies

 

    iii

     

    

 

THIS PRIMARY SERVICING
AGREEMENT dated as of November 1, 2017 is between Midland Loan Services, a Division of PNC Bank, National Association (together
with its successors and assigns permitted under the PSA, the “Master Servicer” or “Midland”), and Berkeley
Point Capital LLC (together with its successors and permitted assigns hereunder, the “Primary Servicer”).

 

PRELIMINARY STATEMENT

 

Pursuant to the Pooling
and Servicing Agreement (the “PSA”) dated as of November 1, 2017, among UBS Commercial Mortgage Securitization Corp.,
as Depositor, Midland, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate Administrator,
as Cayman Agent and as Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer,
with respect to the CCUBS Commercial Mortgage Trust 2017-C1, Commercial Mortgage Pass-Through Certificates, Series 2017-C1 (a copy
of which has been delivered to the Primary Servicer), the Master Servicer shall be servicing the Mortgage Loans on behalf of the
Trust.

 

The Master Servicer and
the Primary Servicer desire to enter into an agreement whereby the Primary Servicer assumes and agrees to perform certain of the
Master Servicer’s servicing responsibilities with respect to the Mortgage Loans as more specifically set forth herein.

 

AGREEMENTS

 

NOW, THEREFORE, in consideration
of the recitals in the above Preliminary Statement which are made a contractual part hereof, and of the mutual promises contained
herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

ARTICLE I.

DEFINITIONS

 

Section 1.01.     
Defined Terms.

 

For purposes of this Agreement,
all capitalized terms not otherwise defined herein shall have the meanings set forth in the PSA, and the following capitalized
terms shall have the respective meanings set forth below.

 

“Accepted Primary
Servicing Practices”: As defined in Section 2.01 hereof.

 

“Additional Primary
Servicing Compensation”: As defined in Section 5.01 hereof.

 

“Agreement”:
This Primary Servicing Agreement, as the same may be amended or modified by the parties from time to time.

 

“CREFC® Reporting
Format”: The CREFC® Investor Reporting Package reporting and data format; provided, however, that if such format
is no longer applicable or in existence,

 

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then such other commercial mortgage servicing industry standard reporting and data format
reasonably approved by the Master Servicer.

 

“Day One Report”:
With respect to each of the Mortgage Loans, the report setting forth the Periodic Payment for the current month and the amount
of any unscheduled payments, Balloon Payments, Principal Prepayments, and Prepayment Premiums for which the Primary Servicer has
received notice, substantially in the form attached hereto as Exhibit “A”.

 

“Inspection Reports”:
The inspection reports substantially in the form attached hereto as Exhibit “B”.

 

“Losses”:
As defined in Section 6.02(b) hereof.

 

“Master Servicer”:
As defined in the first paragraph of this Agreement.

 

“Mortgage Loan”:
Each of the mortgage loans identified on the Mortgage Loan Schedule.

 

“Mortgage Loan
Schedule”: The schedule of certain mortgage loans that is annexed to the Primary Servicer’s signature page included
herewith, which schedule sets forth certain information with respect to such mortgage loans, including, without limitation, the
related Primary Servicing Fee Rate.

 

“Primary Servicer”:
As defined in the first paragraph of this Agreement.

 

“Primary Servicer
Accounts”: The segregated Collection Accounts and the segregated Servicing Accounts maintained by the Primary Servicer
hereunder in the name of the Primary Servicer in trust for the Master Servicer on behalf of the Trustee in trust for the benefit
of the Holders.

 

“Primary Servicer
Parties”: As defined in Section 6.02(a) hereof.

 

“Primary Servicer
Remittance Date”: With respect to any Determination Date, the Business Day immediately following such Determination Date.

 

“Primary Servicer
Termination Event”: Any primary servicer termination event as set forth in Section 7.01 hereof.

 

“Primary Servicing
Fee”: With respect to each Mortgage Loan and for any Distribution Date, that portion of the Servicing Fee payable by
the Master Servicer to the Primary Servicer, which shall be an amount per calendar month equal to the product of the Primary Servicing
Fee Rate and the Stated Principal Balance of such Mortgage Loan, as determined on the same basis as for the calculation of the
Servicing Fee under the PSA.

 

“Primary Servicing
Fee Rate”: The per annum rate for each Mortgage Loan as set forth in the related Mortgage Loan Schedule.

 

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“Primary Servicing
File”: With respect to each Mortgage Loan, all documents, information and records relating to such Mortgage Loan that
are necessary or appropriate to enable the Primary Servicer to perform its obligations hereunder and any additional documents or
information related thereto maintained or created in any form by the Primary Servicer, including, without limitation, all analysis,
working papers, inspections reports, written communications with any Mortgagor, and all other information collected from or concerning
any Mortgagor or the related Mortgaged Property in the Primary Servicer’s possession.

 

“PSA”:
As defined in the above Preliminary Statement to this Agreement.

 

“Quarterly Reports”:
The quarterly reports and certifications substantially in the form attached hereto as Exhibit “C”.

 

“Remittance Reports”:
The remittance reports substantially in the form attached hereto as Exhibit “D”.

 

“Responsible Officer”:
Any officer or employee of the Primary Servicer or the Master Servicer, as the case may be, involved in or responsible for the
administration, supervision or management of this Agreement and whose name and specimen signature appear on a list prepared by
each party and delivered to the other party, as such list may be amended from time to time by either party.

 

“Special Servicer
Non-Major Decision”: As defined in the PSA.

 

ARTICLE II.

RETENTION AND AUTHORITY OF PRIMARY SERVICER

 

Section 2.01.     
Servicing Standard; Commencement of Servicing Responsibilities.

 

The Master Servicer hereby
engages the Primary Servicer to perform, and the Primary Servicer hereby agrees to perform, servicing with respect to all of the
Mortgage Loans throughout the term of this Agreement, upon and subject to the terms, covenants and provisions hereof. The Primary
Servicer shall perform its services hereunder in accordance with (a) applicable laws, (b) the terms and provisions of the Mortgage
Loans, (c) the express terms hereof and the PSA, (d) subject to Section 2.03(b) hereof, the reasonable directions and instructions
of the Master Servicer (including, without limitation, the forms and report formats reasonably requested by the Master Servicer)
and (e) all requirements pertaining to the performance of such services under the PSA, including, without limitation, the Servicing
Standard. The above-described servicing standards are herein referred to as “Accepted Primary Servicing Practices.”

 

Section 2.02.     
Sub-Subservicing.

 

To the extent necessary
for the Primary Servicer to comply with applicable laws, or if otherwise consented to by the Master Servicer, the Primary Servicer
may enter into any sub-subservicing agreement with a sub-subservicer that would permit such sub-subservicer to perform any or all
of the Primary Servicer’s servicing responsibilities under this Agreement;

 

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provided,
however, if such sub-subservicer would be a servicer as contemplated by Item 1108(a)(2) of Regulation AB, no such sub-subservicer
may be Risk Retention Affiliated with or a Risk Retention Affiliate of any Third Party Purchaser. Notwithstanding any sub-subservicing
agreement, the Primary Servicer shall remain obligated and primarily liable to the Master Servicer for the servicing and administering
of the Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by
virtue of such sub-subservicing agreement to the same extent and under the same terms and conditions as if the Primary Servicer
were servicing the Mortgage Loans alone. Any such sub-subservicing agreement must be consistent with the provisions of Section
3.20 of the PSA.

 

Section 2.03.     
Authority of Primary Servicer.

 

(a)          
Except as otherwise provided herein and subject to the terms of this Agreement and the Master Servicer’s limitations
of authority as Master Servicer under the PSA, in performing its obligations hereunder, the Primary Servicer shall have full power
and authority to take any and all actions in connection with such obligations that it deems necessary or appropriate; provided,
however, that the Primary Servicer shall not take any of the following actions with respect to any Mortgage Loan without obtaining
the prior written consent of the Master Servicer (which consent may be in the form of an asset business plan approved in writing
by the Master Servicer and shall be subject to the prior approval of the Special Servicer, any mezzanine loan lender, or the Directing
Certificateholder, if so required under the PSA, which approvals shall be requested by the Master Servicer and upon receipt of
all approvals by Master Servicer, Primary Servicer shall proceed to close such transactions):

 

(i)           
the modification, waiver or amendment, whether or not material, of or with respect to any Mortgage Loan, including, without
limitation, any forgiveness of principal, any change in the amount or timing of any payment of principal or interest, maturity,
extension rights or prepayment provisions or the substitution, release or addition of any collateral for any Mortgage Loan or relate
to any waiver of or granting of consent under a “due-on-sale” or “due-on-encumbrance” clause;

 

(ii)           the granting or withholding of consent to any transfer of ownership of a Mortgaged Property or any transfer of any interest
of an owner of a Mortgaged Property and entering into any assumption agreement in connection therewith;

 

(iii)          the granting or withholding of consent to any request for approval to place subordinate financing on a Mortgaged Property;

 

(iv)          the determination of whether or not to release proceeds of condemnation or casualty insurance to the Mortgagor under any
Mortgage Loan;

 

(v)           the waiver of any Penalty Charge or Prepayment Premium under any Mortgage Loan;

 

(vi)          the waiver of any late Penalty Charges in connection with any delinquent scheduled payment or Balloon Payment with respect
to any Mortgage Loan;

 

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(vii)         any action to initiate, prosecute and manage foreclosure proceedings and other legal proceedings related thereto in connection
with any Mortgage Loan;

 

(viii)        the permitting of or modification of a Mortgage Loan to permit a Principal Prepayment of a Mortgage Loan on a date other
than its Due Date;

 

(ix)           any action requiring the consent of, or consultation with, the Master Servicer, the Directing Certificateholder, the Trustee,
the Certificate Administrator, the Asset Representations Reviewer, the Operating Advisor, any party under an Other Pooling and
Servicing Agreement or the Special Servicer under the PSA;

 

(x)            the granting or withholding consent to any request for defeasance of any Mortgage Loan;

 

(xi)           the granting of any consent, approval or direction regarding the termination of (a) the related property manager or the
designation of any replacement property manager or (b) with respect to a hospitality property, the franchise or the designation
of a new franchise; or

 

(xii)          the authorizing of any Servicing Transfer Event under PSA Section 3.19 and as defined in the definition of Servicing Transfer
Event; provided, however, that if the Primary Servicer determines that a Servicing Transfer Event should occur, the Primary Servicer
shall immediately provide to the Master Servicer notice of such event along with the Primary Servicer’s recommendation and
supporting documentation and further provide to the Master Servicer additional information as the Master Servicer reasonably requests;
or

 

(xiii)        
any Major Decision or Special Servicer Non-Major Decision.

 

(b)           Regardless of whether the consent or approval of the Master Servicer is required pursuant to this Agreement, the Primary
Servicer shall take any action that is directed by the Master Servicer which relates to the Primary Servicer’s obligations
under this Agreement; provided, however, that the Primary Servicer shall not be obligated to take any such action to the extent
that the Primary Servicer determines in its reasonable discretion that such action may cause (i) a violation of applicable laws,
court orders or restrictive covenants with respect to any Mortgage Loan or Mortgaged Property or (ii) a violation of any term or
provision of a Mortgage Loan.

 

ARTICLE III.

SERVICES TO BE PERFORMED

 

Section 3.01.     
Services as Primary Servicer.

 

With respect to each Mortgage
Loan subject to this Agreement, the Primary Servicer shall, in accordance with Accepted Primary Servicing Practices and subject
to the supervision

 

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of the Primary Servicer by the Master Servicer, perform the following servicing activities on behalf of the
Master Servicer:

 

(a)          
the Primary Servicer shall perform the duties and obligations of the Master Servicer as the Master Servicer under PSA Sections
2.01(d), (g) and (i) (conveyance of mortgage loans); 2.02(d), (g) and (h) (15Ga-1 notices); 2.03(b), (d), (f), (g), and (j)–(o)
(repurchase and substitution of loans); 3.01 (general servicing), 3.02 (collections); 3.03 (taxes and insurance; escrows; servicing
accounts); 3.04 (collection account); 3.06 (investment of funds); 3.07 (insurance); 3.08 (due-on sale/encumbrance enforcement;
assumptions); 3.10 (release of files); 3.12 (inspections and reports); 3.13 (access); 3.17 (additional obligations); 3.18 (defeasances
and modifications); 3.19 (servicing transfers); 3.22 (Directing Certificateholder contact); 3.24 (intercreditor agreements); 3.29
(non-serviced loans and serviced companion loans); 10.01 (REMIC administration); 10.03(b) (REMIC cooperation); Article XI (Exchange
Act reporting and Regulation AB compliance) and Article XII (asset representations reviewer file review compliance); provided,
however, that:

 

(i)           
no Primary Servicer shall have any obligation to make Advances, provided that the Primary Servicer shall promptly notify
the Master Servicer in the event any Advance is required to be made or an expense of the Trust Fund is required to be incurred;

 

(ii)           Section 5.01 hereof shall control with respect to which fees or charges the Primary Servicer may retain under PSA Sections
3.05 and 3.11;

 

(iii)          PSA Section 3.06 shall only be applicable with respect to the Primary Servicer Accounts;

 

(iv)          any reports, certifications and other documentation which are required to be provided by the Master Servicer to the Trustee,
the Certificate Administrator, the Depositor, the Directing Certificateholder, any Mortgage Loan Seller, the Operating Advisor,
the Asset Representations Reviewer, the Special Servicer or any party to an Other Pooling and Servicing Agreement shall be provided
by the Primary Servicer to the Master Servicer or as otherwise directed by the Master Servicer;

 

(v)           the Primary Servicer shall not be responsible for any mortgage loan pool-wide reporting, including, without limitation,
preparing, signing and filing with the appropriate Person any reports, statements and information under PSA Section 4.02; and

 

(vi)          except as otherwise provided for in this Agreement and for so long as the Primary Servicer is an affiliate of the applicable
Mortgage Loan Seller, the Primary Servicer shall not be responsible for enforcing the obligations of such Mortgage Loan Seller
under Section 5 of the applicable Mortgage Loan Purchase Agreement as provided for in the first paragraph of Section 2.03(f) of
the PSA, but if Primary Servicer is not an affiliate of the applicable Mortgage Loan Seller,

 

    6

     

    

 

then the Primary Servicer shall perform
all duties and obligations required under Section 2.03(f) of the PSA; and

 

(vii)         subject to Section 2.03(a)(xiii), the Primary Servicer shall not take any actions under and shall immediately forward to
the Master Servicer any request which would qualify as a Major Decision or Special Servicer Non-Major Decision and provide written
notice to the Master Servicer of issues arising with respect to Major Decisions and Special Servicer Non-Major Decisions;

 

(b)           the Primary Servicer shall promptly notify the Master Servicer in writing upon discovery or receipt of notice by the Primary
Servicer of the occurrence of any event that causes, or with notice or the passage of time or both, would cause any Mortgage Loan
to become a Specially Serviced Loan in accordance with the definition of “Specially Serviced Loan” set forth in the
PSA;

 

(c)          
the Primary Servicer shall promptly advise the Master Servicer of all material collection and customer service issues and
furnish the Master Servicer with copies of all written communications regarding such issues between the Primary Servicer and any
Mortgagor or any third party in connection with the Primary Servicer’s obligations hereunder;

 

(d)           on or before 12:00 noon Central Time on each Primary Servicer Remittance Date, the Primary Servicer shall deliver to the
Master Servicer the Remittance Reports which reflect activity with respect to the Mortgage Loans through and including the close
of business on the date which is the Determination Date; and the Primary Servicer shall, to the extent necessary, deliver to the
Master Servicer a follow-up report in similar format which reflects additional activity with respect to the Mortgage Loans through
and including the date of any follow-up remittance;

 

(e)          
on or before 12:00 noon Central Time on each Primary Servicer Remittance Date, the Primary Servicer shall remit to the Master
Servicer, pursuant to wiring instructions from the Master Servicer, all amounts on deposit in the Collection Account maintained
by the Primary Servicer as of the close of business on the date which is one (1) Business Day prior to such Primary Servicer Remittance
Date; and the Primary Servicer shall remit to the Master Servicer within one (1) Business Day after receipt, any payments received
by the Primary Servicer after such initial remittance; and each of the foregoing remittances of funds may be net of any Primary
Servicing Fees due and payable to the Primary Servicer as payments in the nature of Additional Primary Servicing Compensation;

 

(f)          
 the Primary Servicer shall remit to the Master Servicer, pursuant to wiring instructions from the Master Servicer, any whole
or partial Balloon Payments, unscheduled payments, Principal Prepayments or any Prepayment Premium and any interest thereon within
one (1) Business Day after receipt; and on the date of such remittance, the Primary Servicer shall deliver to the Master Servicer
the Remittance Reports relating to such remittance;

 

(g)           on a quarterly and annual basis each year, the Primary Servicer shall prepare and deliver to the Master Servicer on or before
the date that is fifteen (15) days after the end of the respective quarter, the Quarterly Reports;

 

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(h)           on a quarterly and annual basis each year, the Primary Servicer shall determine and analyze financial ratios and perform
other financial analysis required under the CREFC® Reporting Format and on or before the date that is thirty (30) days after
receipt of the related financial statements, prepare and deliver to the Master Servicer a report summarizing such analysis based
upon the property operating statements with respect to the related Mortgaged Property and the financial statements of the related
Mortgagor and each related guarantor collected by the Primary Servicer pursuant to PSA Section 3.12, which report shall be provided
in electronic format and shall be substantially in the form of the CREFC® Financial File included in the CREFC® Reporting
Format (or in such other reporting format as reasonably requested by the Master Servicer);

 

(i)           
the Primary Servicer shall prepare and deliver to the Master Servicer within thirty (30) days of any property inspection,
the Inspection Reports summarizing the results of any property inspections performed by the Primary Servicer pursuant to PSA Section
3.12;

 

(j)           
the Primary Servicer shall prepare and deliver to the Master Servicer the Day One Report on the first Business Day of each
calendar month;

 

(k)           the Primary Servicer shall provide the Master Servicer with such reports and other information (in the Primary Servicer’s
possession or to the extent readily obtainable and as reasonably requested by the Master Servicer) with respect to the servicing
of the Mortgage Loans by the Primary Servicer hereunder in order for the Master Servicer to perform its duties under the PSA;

 

(l)           
the Primary Servicer shall (i) notify the Master Servicer in writing within five (5) Business Days after the Primary Servicer
discovers or receives notice alleging a Defect or a Breach or receives a 15Ga-1 Repurchase Request, a withdrawal of a 15Ga-1 Repurchase
Request or a rejection of a 15Ga-1 Repurchase Request, (ii) promptly provide to the Master Servicer a copy of any 15Ga-1 Repurchase
Request, a withdrawal of a 15Ga-1 Repurchase Request or a rejection of a 15Ga-1 Repurchase Request received by the Primary Servicer;

 

(m)          the Primary Servicer shall not prepare and/or provide any CREFC® Schedule AL File
or any Schedule AL Additional File; provided, however, the Primary Servicer shall (i) promptly provide to the Master Servicer any
documentation in the Primary Servicer’s possession reasonably requested by the Master Servicer in connection with the Master
Servicer’s preparation and compilation of any CREFC® Schedule AL File or any Schedule AL Additional File and (ii) cooperate
with the Master Servicer in connection with the Master Servicer’s preparation and compilation of any CREFC® Schedule AL File
or any Schedule AL Additional File;

 

(n)           with respect to letters of credit, if any, as the Master Servicer is required to hold original letters of credit under the
PSA, the Primary Servicer shall hold such original letters of credit if the Primary Servicer has (i) a vault or other adequate
safety procedures in place satisfactory to the Master Servicer, in its sole discretion, or (ii) outsourced such responsibility
to a third party vendor, which vendor shall be satisfactory to the Master Servicer, who has a vault or other adequate safety procedures
in place satisfactory to the Master Servicer, in its sole discretion;

 

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(o)           if the Master Servicer notifies the Primary Servicer or the Primary Servicer otherwise obtains knowledge that a Mortgage
Loan has become an Excluded Controlling Class Loan under the PSA, then the Primary Servicer (prior to delivering any Excluded Information
to the Master Servicer) shall mark or label such information as “Excluded Information” and comply with all the requirements
set forth in the PSA with respect to such Excluded Controlling Class Loan;

 

(p)           with respect to any request for materials by the Asset Representations Reviewer or a related Other Asset Representations
Reviewer pursuant to PSA Article XII regarding the Mortgage Loans, the Primary Servicer shall (i) promptly provide to the Master
Servicer any documentation in the Primary Servicer’s possession reasonably requested by the Master Servicer and (ii) cooperate
with the Master Servicer in order for the Master Servicer to comply with its related obligations under the PSA; and

 

(q)           with respect to all servicing responsibilities of the Master Servicer under the PSA which are not being performed by the
Primary Servicer hereunder, the Primary Servicer shall (i) reasonably cooperate with the Master Servicer to facilitate the timely
performance of such servicing responsibilities, (ii) promptly provide to the Master Servicer any documentation in the Primary Servicer’s
possession reasonably requested by the Master Servicer and (iii) cooperate with the Master Servicer in order for the Master Servicer
to comply with its related obligations under the PSA.

 

Section 3.02.     
Portfolio Manager.

 

(a)          
The Primary Servicer shall designate a portfolio manager and other appropriate personnel to receive documents and communications
from the Master Servicer and to provide assistance to the Master Servicer consistent with the Master Servicer’s supervisory
authority over the Primary Servicer hereunder.

 

(b)           The Master Servicer shall designate a portfolio manager and other appropriate personnel to receive documents and communications
from the Primary Servicer and to provide to the Primary Servicer information, materials and correspondence relating to the Mortgage
Loans and the related Mortgagors which may be necessary or appropriate to enable the Primary Servicer to perform its obligations
hereunder.

 

Section 3.03.     
Maintenance of Errors and Omissions and Fidelity Coverage.

 

(a)          
The mortgagee clause to be used in maintaining any property-level insurance required under Section 3.07 of the PSA shall
be as set forth in Exhibit E hereto, which may be amended from time-to-time by the Master Servicer.

 

(b)           The Primary Servicer shall obtain and maintain at its own expense, and keep in full force and effect throughout the term
of this Agreement, a fidelity bond and an errors and omissions insurance policy covering the Primary Servicer’s officers
and employees acting on behalf of the Primary Servicer in connection with its activities under this Agreement in form and amount
which satisfies the fidelity bond and errors and omissions insurance policy requirements under PSA Section 3.07(c). The Primary
Servicer shall cause to be delivered to the Master Servicer from time to time upon the Master Servicer’s request a certificate
of insurance or other

 

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evidence of such bond and insurance. The Primary Servicer shall promptly notify or cause its insurer to notify
the Master Servicer of any material change to such fidelity bond or errors and omissions insurance.

 

Section 3.04.     
Delivery and Possession of Servicing Files.

 

The Primary Servicer hereby
acknowledges receipt of the Primary Servicing Files. The contents of each Primary Servicing File delivered to the Primary Servicer
are and shall be held in trust by the Primary Servicer for the benefit of the Trust Fund as the owner thereof; the Primary Servicer’s
possession of the contents of the Primary Servicing File so delivered is for the sole purpose of servicing the related Mortgage
Loan; and such possession by the Primary Servicer shall be in a custodial capacity only. The Primary Servicer shall release its
custody of the contents of the Primary Servicing File only in accordance with written instructions from the Master Servicer, and
upon request of the Master Servicer, the Primary Servicer shall deliver to the Master Servicer the Primary Servicing File or a
copy of any document contained therein.

 

Section 3.05.     
Annual Compliance Statements.

 

(a)          
The Primary Servicer shall, on or before the fifth (5th) Business Day preceding March 1st of each
year, commencing February 22, 2018, deliver to the Master Servicer an Officer’s Certificate in a form that satisfies the
requirements of Section 11.09 of the PSA (or such other form, similar in substance, as may be acceptable to the Depositor and the
Master Servicer) stating, as to the signer thereof, that (i) a review of such Primary Servicer’s activities during the
preceding calendar year or portion thereof and of such Primary Servicer’s performance under this Agreement has been made
under such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, such
Primary Servicer has fulfilled all its obligations under this Agreement in all material respects throughout such year or portion
thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known
to such officer and the nature and status thereof. Such Officer’s Certificate shall be provided in EDGAR-Compatible Format,
or in such other format agreed upon by the Master Servicer and Primary Servicer. Primary Servicer shall cooperate with the Master
Servicer and/or the Depositor if either party consults with the Primary Servicer as to the nature of any failures by the Primary
Servicer with respect to the Mortgage Loans in the fulfillment of any of the Primary Servicer’s obligations hereunder. In
any year that the Primary Servicer has received written confirmation from the Depositor or the Master Servicer that a report on
Form 10-K is not required to be filed in respect of the Trust for the preceding calendar year, the Primary Servicer shall not be
required to deliver such statement until April 1 of such year.

 

(b)           In the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, Primary Servicer shall
provide an annual statement of compliance pursuant to this Section 3.05 with respect to the period of time that Primary
Servicer was subject to this Agreement.

 

    10

     

    

 

Section 3.06.     
Annual Reports on Assessment of Compliance with the Servicing Criteria.

 

(a)          
On or before the fifth (5th) Business Day preceding March 1st of each year, commencing February 22,
2018, the Primary Servicer, at its own expense, shall furnish to the Master Servicer a report substantially in a form that satisfies
the requirements of Section 11.10 of the PSA on an assessment of compliance with the Servicing Criteria applicable to it that complies
in all material respects with the requirements of Item 1122 of Regulation AB and contains (i) a statement by Primary Servicer
of its responsibility for assessing compliance with the Relevant Servicing Criteria, (ii) a statement that Primary Servicer
used the Relevant Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (iii) such Primary Servicer’s
assessment of compliance with the Relevant Servicing Criteria as of and for the period ending the end of the fiscal year covered
by Form 10-K, including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion
of each such failure and the nature and status thereof, and (iv) a statement that a registered public accounting firm has
issued an attestation report on Primary Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and
for such period. Such report shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Master Servicer
and Primary Servicer.

 

(b)           Each such report shall be addressed to the Master Servicer and signed by an authorized officer of Primary Servicer, and
shall address the Relevant Servicing Criteria set forth in Section 11.10 of and Exhibit Z to the PSA. Primary Servicer shall cooperate
with the Master Servicer and/or the Depositor if either party consults with the Primary Servicer as to the nature of any material
instance of noncompliance with the Relevant Servicing Criteria.

 

(c)          
In any year that the Primary Servicer has received written confirmation from the Depositor or the Master Servicer that a
report on Form 10-K is not required to be filed in respect of the Trust for the preceding calendar year, the Primary Servicer shall
not be required to deliver such assessments until April 1 of such year.

 

(d)           Primary Servicer hereby acknowledges and agrees that the Relevant Servicing Criteria set forth in Section 11.10 of and Exhibit
Z to the PSA is appropriately set forth with respect to Primary Servicer.

 

(e)          
In the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, Primary Servicer shall
provide an annual assessment of compliance pursuant to this Section 3.06, coupled with an attestation as required in Section
3.07 with respect to the period of time that Primary Servicer was subject to this Agreement.

 

Section 3.07.     
Annual Independent Public Accountants’ Attestation Report.

 

(a)          
On or before the fifth (5th) Business Day preceding March 1st of each year, commencing February 22,
2018, the Primary Servicer shall, at its own expense, cause a registered public accounting firm and that is a member of the American
Institute of Certified Public Accountants to furnish a report to the Master Servicer to the effect that (i) it has obtained
a representation regarding certain matters from the management of Primary Servicer, which includes an assertion that Primary Servicer
has complied with the Relevant Servicing Criteria

 

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applicable to it and (ii) on the basis of an examination conducted by such
firm in accordance with standards for attestation engagements issued or adopted by the PCAOB, it is issuing an opinion as to whether
Primary Servicer’s assessment of compliance with the Relevant Servicing Criteria applicable to it was fairly stated in all
material respects. In the event that an overall opinion cannot be expressed, such registered public accounting firm shall state
in such report why it was unable to express such an opinion. Each such related accountant’s attestation report shall be made
in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. Such report must
be available for general use and not contain restricted use language. Such report shall be provided in EDGAR-Compatible Format,
or in such other format agreed upon by the Master Servicer and Primary Servicer.

 

(b)           Primary Servicer shall cooperate with the Master Servicer and/or the Depositor if either party consults with the Primary
Servicer as to the nature of any defaults by Primary Servicer in the fulfillment of Primary Servicer’s obligations hereunder.

 

(c)          
In any year that the Primary Servicer has received written confirmation from the Depositor or the Master Servicer that a
report on Form 10-K is not required to be filed in respect of the Trust for the preceding calendar year, the Primary Servicer shall
not be required to deliver such report until April 1 of such year.

 

Section 3.08.     
Sarbanes-Oxley Certification.

 

(a)          
On or before the fifth (5th) Business Day preceding March 1st of each year commencing February 22,
2018, the Primary Servicer shall provide to the Master Servicer (for delivery to the Certifying Person), a Performance Certification
in the form attached as Exhibit Y-2 to the PSA, on which the Master Servicer, the Certifying Person, the entity for which the Certifying
Person acts as an officer (if the Certifying Person is an individual), and each entity’s officers, directors and Affiliates
(collectively the Certification Parties) can reasonably rely. In addition, Primary Servicer shall execute a reasonable reliance
certificate to enable the Certification Parties to rely upon each (i) annual compliance statement provided pursuant to Section
3.05 hereof, (ii) annual report on assessment of compliance with servicing criteria provided pursuant to Section 3.06 hereof and
(iii) accountant’s report provided pursuant to Section 3.07 hereof, and shall include a certification in the Performance
Certification that each such annual compliance statement or report discloses any deficiencies or defaults described to the registered
public accountants of the Primary Servicer to enable such accountants to render the certificates provided for in Section 3.07 hereof.
In the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, the Primary Servicer shall
provide a certification to the Master Servicer for delivery to the Certifying Person pursuant to this Section 3.08 with respect
to the period of time it was subject to this Agreement. Each such Performance Certification shall be provided in EDGAR-Compatible
Format, or in such other format agreed upon by the Master Servicer and the Primary Servicer.

 

(b)           Notwithstanding anything to the contrary contained in this Section 3.08, with respect to each year in which the Trust is
not subject to the reporting requirements of the Exchange Act, Primary Servicer shall not be required to deliver any certification
under this Section 3.08.

 

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Section 3.09.     
Delivery of Mortgage Loan Purchase Agreement.

 

Following the Master Servicer’s
receipt of the Mortgage Loan Purchase Agreement from the Depositor, the Master Servicer shall provide a copy of such Mortgage Loan
Purchase Agreement to the Primary Servicer.

 

ARTICLE IV.

PRESERVATION OF THE REMICS.

 

The Primary Servicer shall
not take any action (whether or not authorized hereunder) that would result in an Adverse REMIC Event. Primary Servicer shall fully
cooperate with the Master Servicer in connection with avoiding the imposition of a tax on any portion of the Trust Fund or cause
either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC.

 

ARTICLE V.

PRIMARY SERVICER’S COMPENSATION AND EXPENSES

 

Section 5.01.     
Primary Servicing Compensation.

 

(a)          
As compensation for its activities hereunder, the Primary Servicer shall be entitled to receive the Primary Servicing Fee.
Anything herein to the contrary notwithstanding, the Primary Servicer shall be paid such Primary Servicing Fee at such times as,
and only to the extent that, the Master Servicer receives its Servicing Fee with respect to each Mortgage Loan under the PSA. Except
as provided below, any reductions in the Servicing Fee that may be required under the PSA with respect to Prepayment Interest Shortfalls
shall not affect the amount of the Primary Servicing Fee payable to the Primary Servicer and, consequently, the Primary Servicer
shall not be entitled to any Prepayment Interest Excess; provided, however, that in the event of a breach of Section 2.03(a)(viii)
of this Agreement by the Primary Servicer, on or before 1:00 p.m. New York City time on the Primary Servicer Remittance Date following
such breach, the Primary Servicer shall remit to the Master Servicer, pursuant to wiring instructions from the Master Servicer,
the amount as of any Distribution Date equal to the aggregate amount of any Prepayment Interest Shortfall incurred in connection
with Principal Prepayments received in respect of the Mortgage Loans. If such Prepayment Interest Shortfall is not remitted to
the Master Servicer by 1:00 p.m. New York City time on the Primary Servicer Remittance Date, then the Primary Servicer shall also
remit to the Master Servicer the Prepayment Interest Shortfall and full interest on such Prepayment Interest Shortfall at the Reimbursement
Rate from and including such Primary Servicer Remittance Date but excluding the date that such Prepayment Interest Shortfall is
received by the Master Servicer.

 

(b)           The Primary Servicer shall also be entitled to retain, with respect to each related Mortgage Loan, as additional Primary
Servicing compensation (the “Additional Primary Servicing Compensation”), the following: (i) to the extent the
Master Servicer is entitled to retain such amounts under the PSA and actually received such amounts, all Penalty Charges (to the
extent the Primary Servicer is performing the related collection work and to the extent not

 

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required to be offset against with
respect to the related Mortgage Loan under PSA Section 3.11(d) (1) interest on Advances or (2) certain additional Trust expenses),
all amounts collected for checks returned for insufficient funds relating to the Primary Servicer Accounts, all charges for beneficiary
statements to the extent such beneficiary statements were prepared by the Primary Servicer, 50% of the Master Servicer’s
share of any assumption fees and assumption application fees and 50% of the Master Servicer’s share of any and all Excess
Modification Fees, waiver, consent and earnout fees, review fees and similar fees; and (ii) subject to PSA Section 3.06, any interest
or other income earned on deposits in the related Primary Servicer Accounts; provided, however, that the Primary Servicer shall
be required to promptly remit to the Master Servicer any amounts received from or on behalf of any Mortgagor which the Primary
Servicer is not entitled to retain under this paragraph.

 

Notwithstanding the foregoing,
the Primary Servicer shall not be entitled to any Additional Primary Servicing Compensation in the form of fees earned with respect
to the processing of any Special Servicer Non-Major Decision performed by the Special Servicer; provided, however, if the Master
Servicer and the Primary Servicer mutually agree that the Primary Servicer shall process any Special Servicer Non-Major Decision
following approval of such decision by the Special Servicer and the Primary Servicer processes such Special Servicer Non-Major
Decision, the Primary Servicer shall be entitled to the applicable fee as described above.

 

(c)          
Except as otherwise provided herein or in the PSA, the Primary Servicer shall pay all its overhead and similar expenses
incurred by it in connection with its servicing activities hereunder.

 

ARTICLE VI.

THE MASTER SERVICER AND THE PRIMARY SERVICER

 

Section 6.01.     
Primary Servicer Not to Assign; Merger or Consolidation of the Primary Servicer.

 

(a)          
Except as otherwise provided in Section 6.01(b) hereof, or in Sections 2.02 or 3.02 hereof, the Primary Servicer shall not
assign this Agreement for any reason or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof
without the prior written consent of the Master Servicer.

 

(b)           The Primary Servicer shall not resign from its obligations and duties hereunder without giving the Master Servicer sixty
(60) days prior written notice thereof or such lesser notice as may be acceptable to the Master Servicer to enable the Master Servicer
to assume all of the Primary Servicer’s rights, powers, duties and obligations under this Agreement; provided, however, that
only fifteen (15) days prior written notice shall be required in connection with a resignation of the Primary Servicer as a result
of the Master Servicer’s failure to consent to any matters set forth in this Section 6.01.

 

(c)          
The Primary Servicer may be merged or consolidated with or into any Person, or transfer all or substantially all of its
assets to any Person, in which case any Person resulting from any merger or consolidation to which the Primary Servicer shall be
a party, or any Person

 

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succeeding to the business of the Primary Servicer, shall be the successor of the Primary Servicer hereunder
and shall be deemed to have assumed all of the liabilities of the Primary Servicer hereunder, provided that, in any such case,
the Primary Servicer meets the requirements of the PSA and has obtained the prior written consent of the Master Servicer. Notwithstanding
the foregoing, the Primary Servicer may not remain the Primary Servicer under this Agreement after (x) being merged or consolidated
with or into any Person that is a Prohibited Party, or (y) transferring all or substantially all of its assets to any Person if
such Person is a Prohibited Party, except to the extent (i) the Primary Servicer is the surviving entity of such merger, consolidation
or transfer and has been and continues to be in compliance with its Regulation AB reporting obligations hereunder or (ii) the Master
Servicer consents to such merger, consolidation or transfer. Upon written demand by the Master Servicer, such successor shall be
required to promptly execute and deliver to the Master Servicer an agreement which contains an assumption by such Person of the
due and punctual performance and observance of each covenant and condition to be performed and observed by the Primary Servicer
under this Agreement from and after the date of such agreement. Notwithstanding anything to the contrary, the Primary Servicer
shall promptly notify the Master Servicer, the Certificate Administrator and the Trustee in the event the Primary Servicer becomes
an Affiliate of the Trustee.

 

Section 6.02.     
Liability and Indemnification of the Primary Servicer and the Master Servicer.

 

(a)          
Neither the Primary Servicer nor any of the partners, directors, officers, shareholders, members, managers, employees or
agents of the Primary Servicer (the “Primary Servicer Parties”) shall be under any liability to the Master Servicer
for any action taken, or for refraining from the taking of any action, in good faith pursuant to this Agreement, or for errors
in judgment; provided, however, that this provision shall not protect the Primary Servicer Parties against any liability which
would be imposed by reason of any breach of its warranties or representations made herein, or against any liability that would
otherwise be imposed on the Primary Servicer by reason of the Primary Servicer’s willful misconduct, bad faith or negligence (or
by reason of any specific liability imposed on the Primary Servicer pursuant to Section 2.01 hereof, for a breach of the Accepted
Primary Servicing Practices) in the performance of its obligations and duties hereunder or by reason of its negligent disregard
of its obligations and duties hereunder. Each indemnified party hereunder shall give prompt written notice to the indemnitor of
matters which may give rise to liability of such indemnitor hereunder; provided, however, that failure to give such notice shall
not relieve the indemnitor of any liability except to the extent of actual prejudice. The Primary Servicer Parties may rely in
good faith on any document of any kind which, prima facie, is properly executed and submitted by any appropriate Person respecting
any matters arising hereunder.

 

(b)           The Primary Servicer Parties shall be indemnified and held harmless by the Master Servicer against any and all claims, losses,
penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses
incurred in connection with any actual or threatened legal or administrative action (whether in equity or at law) or claim relating
to this Agreement (collectively, the “Losses”) incurred by the Primary Servicer (i) by reason of the Master Servicer’s
willful misconduct, bad faith, negligence in the performance of its obligations and duties hereunder or negligent disregard of
its obligations and duties hereunder or (ii) in connection with, or relating to, this Agreement, the Mortgage Loans or the Certificates,
other than any Losses (x) that are specifically required to be borne by Primary

 

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Servicer without right of reimbursement pursuant
to the terms hereof or (y) incurred by reason of (1) a breach of any representation or warranty by Primary Servicer, or (2) willful
misconduct, bad faith or negligence of Primary Servicer in the performance of its respective obligations and duties hereunder or
negligent disregard of its respective obligations and duties under this Agreement; provided, however, that the indemnification
under clause (ii) above shall be strictly limited to any actual amount of indemnification received by the Master Servicer under
the PSA as a result of pursuing the Trust Fund on behalf of the Primary Servicer for such indemnification.

 

(c)          
The Master Servicer and any partners, directors, officers, shareholders, members, managers, employees or agents of the Master
Servicer shall be indemnified and held harmless by the Primary Servicer against any Losses incurred by the Master Servicer by reason
of (i) any breach by the Primary Servicer of a representation or warranty made by it herein or in the PSA or (ii) any willful misconduct,
bad faith or negligence by the Primary Servicer in the performance of its obligations and duties hereunder or under the PSA or
by reason of negligent disregard of such obligations and duties. The Master Servicer and any partner, director, officer, shareholder,
member, manager, employee or agent of the Master Servicer may rely in good faith on any document of any kind which, prima facie,
is properly executed and submitted by any appropriate Person respecting any matters arising hereunder.

 

(d)           The Primary Servicer shall indemnify and hold harmless the Master Servicer, each Certification Party, the Depositor, each
Other Depositor and any employee, director, officer and Affiliate of the Master Servicer, each Certification Party, the Depositor
and any Other Depositor from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses
and related costs, judgments and any other costs, fees and expenses incurred by such indemnified party arising out of (i) a breach
of the Primary Servicer’s obligation to provide any of the annual compliance statements or annual servicing criteria compliance
reports or attestation reports pursuant to this Agreement and the PSA, (ii) the negligence, bad faith or willful misconduct on
the Primary Servicer’s part in the performance of such obligations, (iii) any failure by Primary Servicer to identify itself (or
any sub-subservicer the Primary Servicer enters into a sub-subservicing agreement with pursuant to Section 2.02 hereof) as a Servicing
Function Participant pursuant to the PSA, (iv) any failure by Primary Servicer to comply with the obligations of a Servicing Function
Participant under the PSA or (v) any Deficient Exchange Act Deliverable.

 

In addition, the Primary
Servicer shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under
any applicable sub-subservicing agreement) with the Depositor or Other Depositor, as applicable, and the Master Servicer as necessary
for the Depositor or Other Depositor, as applicable, and the Master Servicer to conduct any reasonable due diligence necessary
to evaluate and assess any material instances of non-compliance disclosed in any of the deliverables required by the applicable
Reporting Requirements.

 

In connection with comments
provided to the Depositor or any Other Depositor from the Commission or its staff regarding information (x) delivered by the Primary
Servicer, (y) regarding the Primary Servicer, and (z) prepared by the Primary Servicer or any registered public accounting firm,
attorney or other agent retained by the Primary Servicer to prepare such information, which information is contained in a report
filed by the Depositor or Other Depositor

 

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under the Reporting Requirements and which comments are received subsequent to the Depositor’s
or Other Depositor’s filing of such report, upon receipt of such comments from the Depositor or Other Depositor, the Master Servicer
shall promptly provide to the Primary Servicer any such comments which relate to the Primary Servicer. Primary Servicer shall be
responsible for timely preparing a written response to the Commission or its staff for inclusion in the Depositor’s, Other
Depositor’s or the Master Servicer’s, as applicable, response to the Commission or its staff, unless Primary Servicer elects, with
the consent of the Master Servicer (which consent shall not be unreasonably denied, withheld or delayed), to directly communicate
with the Commission or its staff and negotiate a response and/or resolution with the Commission or its staff; provided that if
the Primary Servicer (or a sub-servicer retained by the Primary Servicer) is a Servicing Function Participant or an Additional
Servicer, the Primary Servicer shall provide copies to the Master Servicer of all material communications pursuant to this paragraph.
If such election is made, the Primary Servicer shall be responsible for directly negotiating such response and/or resolution with
the Commission or its staff in a timely manner; provided, that (i) Primary Servicer shall use reasonable efforts to keep the Depositor
or Other Depositor, as applicable, and the Master Servicer informed of its progress with the Commission or its staff and copy the
Depositor or Other Depositor, as applicable, and the Master Servicer on all correspondence with the Commission or its staff and
provide the Depositor or Other Depositor, as applicable, and the Master Servicer with the opportunity to participate (at the Depositor’s,
Other Depositor’s or Master Servicer’s, as applicable, expense) in any telephone conferences and meetings with the Commission or
its staff and (ii) the Master Servicer shall cooperate with the Primary Servicer in order to authorize the Primary Servicer and
its representatives to respond to and negotiate directly with the Commission or its staff with respect to any comments received
from the Commission or its staff relating to Primary Servicer and to notify the Commission or its staff of such authorization.
The Master Servicer and the Primary Servicer shall cooperate and coordinate with each other with respect to any requests made to
the Commission or its staff for any extension of time for submitting a response or compliance. All reasonable out-of-pocket costs
and expenses incurred by the Depositor or Other Depositor, as applicable, and the Master Servicer (including reasonable legal fees
and expenses of outside counsel to the Depositor or Other Depositor, as applicable, and the Master Servicer) in connection with
the foregoing (other than those costs and expenses required to be at the Depositor’s or Other Depositor’s, as applicable, expense
as set forth above) and any amendments to any reports filed with the Commission or its staff therewith shall be promptly paid by
the Primary Servicer upon receipt of an itemized invoice from the Depositor or Other Depositor, as applicable, and/or the Master
Servicer, as applicable. The Primary Servicer shall use commercially reasonable efforts to cause any Servicing Function Participant
or Additional Servicer retained by it to comply with the foregoing by inclusion of similar provisions in the related sub-subservicing
or similar agreement.

 

If the indemnification provided
for in, or contemplated by, this Section 6.02(d) is unavailable or insufficient to hold harmless the Master Servicer, any Certification
Party, the Depositor, any Other Depositor or any employee, director, officer or Affiliate of the Master Servicer, the Depositor
or any Other Depositor, then the Primary Servicer shall contribute to the amount paid or payable to the indemnified party as a
result of the losses, claims, damages or liabilities of the indemnified party in such proportion as is appropriate to reflect the
relative fault of the indemnified party on the one hand and the Primary Servicer on the other in connection with a breach of the
Primary Servicer’s obligations pursuant to Article XI of the PSA, this

 

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Agreement or the Primary Servicer’s negligence,
bad faith or willful misconduct in connection therewith. The Primary Servicer shall cause any sub-subservicer with which it enters
into a servicing relationship with respect to the Mortgage Loans to agree to the foregoing indemnification and contribution obligations.

 

(e)          
The indemnification, exculpation, and other protections and provisions in this Section 6.02 shall survive the termination
of this Agreement or the resignation of the Master Servicer or the Primary Servicer.

 

Section 6.03.     
Representations and Warranties.

 

The Primary Servicer hereby
represents, warrants and covenants to the Master Servicer that as of the date hereof:

 

(a)          
The Primary Servicer is duly organized, validly existing and in good standing under the laws of the state of its organization
and is in compliance with the laws of each jurisdiction in which any Mortgaged Property is located to the extent necessary to perform
its obligations under this Agreement;

 

(b)           The execution and delivery of this Agreement by the Primary Servicer and its performance and compliance with the terms of
this Agreement do not (i) violate the Primary Servicer’s organizational documents, (ii) constitute a default (or an event that,
with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material contract, or
other material instrument to which the Primary Servicer is a party or which is applicable to it or any of the assets or (iii) violate
any law, rule, regulation, order, judgment or decree to which the Primary Servicer or its property is subject, which, in the case
of either of clause (ii) or (iii), does or is likely to materially and adversely affect the Primary Servicer’s ability to perform
hereunder or its financial condition;

 

(c)          
The Primary Servicer has the full corporate power and authority to enter into and consummate all transactions to be performed
by it as contemplated by this Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has
duly executed and delivered this Agreement;

 

(d)           This Agreement, assuming due authorization, execution and delivery by the Master Servicer, constitutes a valid, legal and
binding obligation of the Primary Servicer, enforceable against it in accordance with the terms of this Agreement, subject to (i)
applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and, to the extent applicable, the rights of creditors of national banks or of “financial companies”
(as defined in Section 201 of the Dodd-Frank Act) or their Affiliates, and (ii) general principles of equity, regardless of whether
such enforcement is considered in a proceeding in equity or at law;

 

(e)          
The Primary Servicer is not in violation of, and the execution and delivery of this Agreement by the Primary Servicer and
its performance and compliance with the terms of this Agreement will not constitute a violation of, any law, any order or decree
of any court or arbiter, or any order, regulation or demand of any federal, state or local governmental or regulatory authority,
which violation, in the Primary Servicer’s good faith and reasonable judgment, is

 

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likely to affect materially and adversely the
ability of the Primary Servicer to perform its obligations hereunder or the financial condition of the Primary Servicer;

 

(f)           
No litigation is pending or, to the best of the Primary Servicer’s knowledge, threatened against the Primary Servicer that
would prohibit the Primary Servicer from entering into this Agreement, or, in the Primary Servicer’s good faith and reasonable
judgment, is likely to materially and adversely affect the ability of the Primary Servicer to perform its obligations under the
Agreement or the financial condition of the Primary Servicer;

 

(g)           Each officer and employee of the Primary Servicer that has responsibilities concerning the servicing and administration
of Mortgage Loans is covered by errors and omissions insurance and the fidelity bond maintained by the Primary Servicer in the
amounts and with the coverage required by PSA Section 3.07;

 

(h)           No consent, approval, authorization or order of, registration or filing with, or notice to, any governmental authority or
court is required under federal or state law for the execution, delivery and performance by the Primary Servicer of, or compliance
by the Primary Servicer with, this Agreement or the Primary Servicer’s consummation of any transactions contemplated hereby,
other than (i) such consents, approvals, authorizations, orders, qualifications, registrations, filings or notices as have been
obtained, made or given prior to the actual performance by the Primary Servicer of its obligations under this Agreement or (ii)
where the lack of such consent, approval, authorization, order, qualification, registration, filing or notice would not have a
material adverse effect on the performance by the Primary Servicer under this Agreement;

 

(i)           
The Primary Servicer is not an Affiliate of the Trustee and is not a Prohibited Party; and

 

(j)           
The Primary Servicer is not Risk Retention Affiliated with any Third Party
Purchaser.

 

The foregoing representations
and warranties shall survive the execution and delivery of this Agreement. Upon discovery by either the Master Servicer or the
Primary Servicer of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give
prompt written notice thereof to the other party.

 

ARTICLE VII.

PRIMARY SERVICER TERMINATION EVENTS; TERMINATION

 

Section 7.01.     
Primary Servicer Termination Events; Primary Servicer Third Party Purchaser Non-Affiliate Covenant.

 

(a)          
“Primary Servicer Termination Event”, wherever used herein with respect to any Primary Servicer, means any one
of the following events:

 

(i)           
any failure by the Primary Servicer to remit to the Primary Servicer Accounts, or to remit to the Master Servicer, any amount
required to be so

 

    19

     

    

 

remitted by the Primary Servicer pursuant to and in accordance with this Agreement; or

 

(ii)           any failure on the part of the Primary Servicer duly to observe or perform in any material respect any of the other covenants
or obligations which continues unremedied for a period of twenty (20) days (or (A) with respect to any year that a report on Form
10-K is required to be filed, three (3) Business Days in the case of the Primary Servicer’s obligations under this Agreement in
respect of Exchange Act reporting items (after any applicable grace periods) or (B) ten (10) days in the case of a failure to pay
the premium for any insurance policy required to be maintained hereunder or such shorter period (not less than one (1) Business
Day) as may be required to avoid the lapse of insurance) after the date on which written notice of such failure, requiring the
same to be remedied, shall have been given to the Primary Servicer by the Master Servicer, provided, however, if such failure with
a twenty (20) day cure period is capable of being cured and the Primary Servicer is diligently pursuing such cure, such twenty
(20) day period shall be extended for an additional twenty (20) days; provided that the Primary Servicer has commenced to cure
such failure within the initial twenty (20) day period and has certified that it has diligently pursued, and is continuing to pursue,
a full cure; provided, further, however, that such extended period shall not apply to the obligations regarding Exchange Act reporting;
or

 

(iii)          any breach on the part of the Primary Servicer of any representation or warranty contained in Section 6.03 hereof, which
materially and adversely affects the interests of any Class of Certificateholders or Companion Holders and which continues unremedied
for a period of twenty (20) days after the date on which notice of such breach, requiring the same to be remedied, shall have been
given to the Primary Servicer by the Master Servicer, provided, however, if such breach is capable of being cured and the Primary
Servicer is diligently pursuing such cure, such twenty (20) day period shall be extended for an additional twenty (20) days; provided
that the Primary Servicer has commenced to cure such failure within the initial twenty (20) day period and has certified that it
has diligently pursued, and is continuing to pursue, a full cure; or

 

(iv)          a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case
under any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver,
liquidator, trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities
or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Primary Servicer
and such decree or order shall have remained in force undischarged, undismissed or unstayed for a period of forty-five (45) days;
or

 

(v)           the Primary Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official
in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings

 

    20

     

    

 

of or relating
to the Primary Servicer, or of or relating to all or substantially all of its property; or

 

(vi)          the Primary Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition
to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its
creditors, voluntarily suspend payment of its obligations or take any corporate action in furtherance of the foregoing; or

 

(vii)         any of Moody’s, Fitch or KBRA (or, in the case of Serviced Pari Passu Companion Loan Securities, any Companion Loan
Rating Agency) has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or
one or more classes of Serviced Pari Passu Companion Loan Securities or (B) placed one or more Classes of Certificates or
one or more classes of Serviced Pari Passu Companion Loan Securities on “watch status” in contemplation of rating downgrade
or withdrawal (and in the case of clause (A) or (B), such action has not been withdrawn by such Rating Agency within 60 days of
such rating action) and, in the case of either of clauses (A) or (B), such Rating Agency publicly cited servicing concerns with
the Master Servicer (because of actions of the Primary Servicer) or the Primary Servicer as the sole or a material factor in such
rating action; or

 

(viii)        a Servicer Termination Event (as defined in the PSA) by the Master Servicer under PSA Section 7.01 which Servicer Termination
Event occurred as a result of the failure of the Primary Servicer to perform any obligation required hereunder; or

 

(ix)           the failure of the Primary Servicer to comply with any of the requirements under Sections 3.05, 3.06, 3.07 and 3.08 of this
Agreement applicable to such Primary Servicer, including the failure to deliver any reports or certificates at the time such report
or certification is required under Sections 3.05, 3.06, 3.07 and 3.08 of this Agreement which continues unremedied for five
(5) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the
Primary Servicer by the Master Servicer; or

 

(x)            the Primary Servicer or any primary servicer or sub-subservicer appointed by the Primary Servicer after the Closing Date,
fails to deliver by the due date any Exchange Act reporting items required to be delivered to the Master Servicer, the Certificate
Administrator or the Depositor under Article XI of the PSA or under this Agreement or to the applicable master servicer under any
other pooling and servicing agreement that the Depositor is a party to; or

 

(xi)           the Primary Servicer or any primary servicer or sub-subservicer appointed by the Primary Servicer after the Closing Date,
fails to perform in any material respect any of its covenants or obligations contained in this Agreement regarding creating, obtaining
or delivering any Exchange Act reporting items required for any party to the PSA to perform its obligations under Article XI of
the PSA or

 

    21

     

    

 

under the Exchange Act reporting items required under any other pooling and servicing agreement that the Depositor is
a party to;

 

then, and in each and every case, so long as
an Primary Servicer Termination Event shall not have been remedied, the Master Servicer may, by notice in writing to the Primary
Servicer, in addition to whatever rights the Master Servicer may have at law or in equity, including injunctive relief and specific
performance, immediately terminate all of the rights and obligations of the Primary Servicer under this Agreement and in and to
the Mortgage Loans and the proceeds thereof, subject to Section 7.02 hereof, without the Master Servicer incurring any penalty
or fee of any kind whatsoever in connection therewith. Except as otherwise expressly provided in this Agreement, no remedy provided
for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to
any other remedy and no delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed
to be a waiver of any Primary Servicer Termination Event. On or after the receipt by the Primary Servicer of such written notice
of termination from the Master Servicer, all authority and power of the Primary Servicer in this Agreement, whether with respect
to the Mortgage Loans or otherwise, shall pass to and be vested in the Master Servicer, and the Primary Servicer agrees to cooperate
with the Master Servicer in effecting the termination of the Primary Servicer’s responsibilities and rights hereunder, including,
without limitation, the remittance of funds and the transfers of the Primary Servicing Files as set forth in Section 7.02. Notwithstanding
the foregoing, upon any termination of the Primary Servicer, the Primary Servicer will be entitled to receive all accrued and unpaid
Primary Servicing Fees and Additional Primary Servicing Compensation through the date of termination.

 

(b)           Upon discovery by the Primary Servicer of any Primary Servicer Termination Event (but regardless of whether any notice has
been given as provided in this Agreement or any cure period provided herein has expired), the Primary Servicer shall give prompt
written notice thereof to the Master Servicer.

 

(c)          
The Master Servicer may waive in writing any default by the Primary Servicer in the performance of its obligations hereunder
and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination
Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend
to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.

 

(d)           The Primary Servicer shall not be or become Risk Retention Affiliated with
or a Risk Retention Affiliate of any Third Party Purchaser. If the Primary Servicer is or
becomes Risk Retention Affiliated with or a Risk Retention Affiliate of any Third Party Purchaser, the
Primary Servicer shall promptly notify the Master Servicer and the Primary Servicer shall be terminated as Primary Servicer under
this Agreement pursuant to Section 7.02(a)(ii) below.

 

Section 7.02.     
Termination of Agreement.

 

(a)          
This Agreement shall be terminated with respect to any Primary Servicer:

 

    22

     

    

 

(i)           
pursuant to Section 3.20 of the PSA and Section 7.01 hereof, if the Master Servicer elects to terminate the Primary Servicer
following a Primary Servicer Termination Event;

 

(ii)            promptly following the Primary Servicer being or becoming Risk Retention Affiliated
with or a Risk Retention Affiliate of any Third Party Purchaser;

 

(iii)           at the Depositor’s request (to the extent the Depositor has a right to request termination under the PSA) pursuant to Section
7.01(a)(x) or (xi) hereof or PSA Section 3.20(a)(ix);

 

(iv)           upon resignation by the Primary Servicer as provided in Section 6.01 hereof;

 

(v)            with respect to any Mortgage Loan, in the event such Mortgage Loan (A) becomes a Specially Serviced Loan or (B) is substituted,
defeased, purchased or repurchased pursuant to PSA Sections 2.03, 3.16, 3.18 or 9.01; or

 

(vi)           solely with respect to the Harmon Corner Whole Loan, on and after the related Servicing Shift Securitization Date.

 

(b)           If the Master Servicer’s responsibilities and duties as Master Servicer under the PSA have been assumed by the Trustee,
the Trustee shall, without act or deed on the part of the Trustee, succeed to all of the rights and obligations of the Master Servicer
under this Agreement as provided in PSA Section 3.20, and the Primary Servicer shall be bound to the Trustee under all of the terms,
covenants and conditions of this Agreement with the same force and effect as if the Trustee was originally the Master Servicer
under this Agreement; and the Primary Servicer does hereby attorn to the Trustee, as the Master Servicer hereunder, said attornment
to be effective and self-operative without the execution of any further instruments on the part of any of the parties hereto immediately
upon the Trustee succeeding to the interest of the Master Servicer hereunder. The Primary Servicer agrees, however, upon written
demand by the Trustee to promptly execute and deliver to the Trustee an instrument in confirmation of the foregoing provisions,
satisfactory to the Trustee, in which the Primary Servicer shall acknowledge such attornment and shall confirm to the Trustee its
agreement to the terms and conditions of this Agreement. References to the Trustee under this Section 7.02, shall include any successor
Master Servicer under the PSA.

 

(c)          
Termination pursuant to this Section or as otherwise provided herein shall be without prejudice to any rights of the Master
Servicer or the Primary Servicer which may have accrued through the date of termination hereunder. In connection with any such
termination, the terminated Primary Servicer shall (i) remit all funds in the related Primary Servicer Accounts to the Master Servicer
or such other Person designated by the Master Servicer, net of accrued Primary Servicing Fees and Additional Primary Servicing
Compensation through the termination date which are due and payable to the Primary Servicer, (ii) deliver all related Primary Servicing
Files to the Master Servicer or to Persons designated by the Master Servicer, and (iii) fully cooperate with the Master Servicer
to effectuate an orderly transition of the servicing of the

 

    23

     

    

 

related Mortgage Loans. All rights of the terminated Primary Servicer
relating to the following after such termination shall continue in full force and effect until payment or other satisfaction in
accordance with this Agreement or termination of the Trust: (y) indemnification pursuant to Section 6.02; and (z) the payment of
its Primary Servicing Fees and Additional Primary Servicing Compensation which in any such case accrued under the terms of this
Agreement on or before the date of such termination shall continue in full force and effect until payment or other satisfaction
in accordance with this Agreement.

 

ARTICLE VIII.

MISCELLANEOUS PROVISIONS

 

Section 8.01.     
Rating Agency Communications.

 

(a)          
Except as required by the PSA or by law, the Primary Servicer shall not provide any information directly to, or communicate
with, either orally or in writing, any Rating Agency or any NRSRO regarding the Certificates or the Mortgage Loans relevant to
such Rating Agency’s or NRSRO’s surveillance of the Certificates or Mortgage Loans, including, but not limited to,
providing responses to inquiries from a Rating Agency or NRSRO regarding the Certificates or the Mortgage Loans relevant to such
Rating Agency’s or NRSRO’s surveillance of the Certificates and requests for Rating Agency Confirmation. All such information
will be provided by, and all such communications, responses and requests will be made by, the Master Servicer in accordance with
the procedures required by the PSA. To the extent that the Master Servicer is required to provide any information to, or communicate
with, any Rating Agency or NRSRO in accordance with its obligations under the PSA and such information or communication is regarding
the Mortgage Loans or the primary servicing by the Primary Servicer under this Agreement, the Primary Servicer shall provide the
information to the Master Servicer necessary for the Master Servicer to fulfill such obligations. None of the foregoing restrictions
in this Agreement shall prohibit or restrict oral or written communications, or providing information, between the Primary Servicer,
on the one hand, and any Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s
review of the ratings it assigns to the Primary Servicer, (ii) such Rating Agency’s or NRSRO’s approval of the
Primary Servicer as a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s or NRSRO’s
evaluation of the Primary Servicer’s servicing operations in general; provided, that the Primary Servicer shall not
provide any information relating to the Certificates or the Mortgage Loans to any Rating Agency or NRSRO in connection with such
review and evaluation by such Rating Agency or NRSRO unless (x) Mortgagor, property and other deal specific identifiers are redacted;
or (y) such information has already been provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5
Information Provider’s Website.

 

(b)           The Primary Servicer hereby expressly agrees to indemnify and hold harmless the Master Servicer and its respective officers,
directors, shareholders, members, managers, employees, agents, Affiliates and controlling persons, and the Trust Fund (each, an
“Indemnified Party”), from and against any and all losses, liabilities, damages, claims, judgments, costs, fees, penalties,
fines, forfeitures or other expenses (including reasonable legal fees and expenses), joint or several, to which any such Indemnified
Party may become subject, under the Securities

 

    24

     

    

 

Act, the Exchange Act or otherwise, pursuant to a third-party claim, insofar as
such losses, liabilities, damages, claims, judgments, costs, fees, penalties, fines, forfeitures or other expenses (including reasonable
legal fees and expenses) arise out of or are based upon the Primary Servicer’s breach of this Section 8.01 (including, without
limitation, a determination by a Rating Agency that it cannot reasonably rely on representations made by the Depositor or any Affiliate
thereof pursuant to Exchange Act Rule 17g-5(a)(3), but solely to the extent such determination is caused by a breach of this Section
8.01 by the Primary Servicer), and will reimburse such Indemnified Party for any legal or other expenses reasonably incurred by
such Indemnified Party in connection with investigating or defending any such action or claim, as such expenses are incurred.

 

Section 8.02.     
Amendment.

 

This Agreement contains
the entire agreement between the parties relating to the subject matter hereof, and may be amended from time to time by the Master
Servicer and the Primary Servicer only by written agreement executed by the party or parties against whom the enforcement of such
amendment is sought. Master Servicer shall not consent to any modification to the PSA in any manner which would increase the obligations
or limit the rights of the Primary Servicer under the PSA or under this Agreement without the prior consent of the Primary Servicer
(which consent shall not be unreasonably withheld).

 

Section 8.03.     
Governing Law; Submission to Jurisdiction; Waiver of Jury Trial

 

(a)          
THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE
PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS
LAW SHALL APPLY TO THIS AGREEMENT.

 

(b)           EACH OF THE PARTIES HERETO IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK
AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING
RELATING TO THIS AGREEMENT; (II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION
OR PROCEEDING IN ANY SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE
AND MAY BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW; AND (IV) CONSENTS
TO SERVICE OF PROCESS UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR NOTICES HEREUNDER.

 

    25

     

    

 

(c)          
THE PARTIES HERETO HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM, WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

 

Section 8.04.     
Notices.

 

All demands, notices and
communications hereunder shall be in writing and addressed in each case as follows:

 

(a)           if to the Primary Servicer, as set forth on each signature page included herewith; and

 

(b)           if to the Master Servicer:

 

by U.S. Mail at:

 

Midland Loan Services, a Division
of PNC Bank, National Association 

P.O. Box 25965 

Shawnee Mission, KS 66225-5965 

Attention: Executive Vice President
- Division Head 

Facsimile No.: (888) 706-3565 

Email: NoticeAdmin@midlandls.com and

MLSSubservicergroup@midlandls.com

 

or by delivery
to:

 

Midland Loan Services, a Division
of PNC Bank, National Association 

10851 Mastin, Suite 300 

Overland Park, KS 66210 

Attention: Executive Vice President
- Division Head

 

Any of the above-referenced Persons may change
its address for notices hereunder by giving notice of such change to the other Persons. All notices and demands shall be deemed
to have been given at the time of the delivery at the address of such Person for notices hereunder if personally delivered, mailed
by certified or registered U.S. mail, postage prepaid, return receipt requested, or sent by overnight courier or telecopy. Notwithstanding
the foregoing, Primary Servicer may deliver any of the items required to be delivered to the Master Servicer under Sections 3.05-3.08
of this Agreement through electronic mail at NoticeAdmin@midlandls.com or such other email address provided to Primary
Servicer from the Master Servicer from time to time.

 

(c)          
To the extent that any demand, notice or communication hereunder is given to any Primary Servicer by a Responsible Officer
of the Master Servicer, such Responsible Officer shall be deemed to have the requisite power and authority to bind the Master Servicer
with respect to such communication, and any Primary Servicer may conclusively rely upon and shall be protected in acting or refraining
from acting upon any such communication. To the extent that

 

    26

     

    

 

any demand, notice or communication hereunder is given to the Master
Servicer by a Responsible Officer of any Primary Servicer, such Responsible Officer shall be deemed to have the requisite power
and authority to bind the Primary Servicer with respect to such communication, and the Master Servicer may conclusively rely upon
and shall be protected in acting or refraining from acting upon any such communication. Any notice required to be delivered under
this Agreement may be provided electronically (including by electronic mail).

 

Section 8.05.     
Consistency with PSA; Severability of Provisions.

 

This Agreement shall be
subject to the provisions of the PSA, which provisions shall be paramount and controlling and shall supersede the provisions of
this Agreement to the extent of any conflicts or inconsistencies. If one or more of the provisions of this Agreement shall be for
any reason whatever held invalid or unenforceable or shall be determined to be inconsistent with the PSA, such provisions shall
be deemed severable from the remaining covenants, agreements and provisions of this Agreement and such invalidity or unenforceability
shall in no way affect the validity or enforceability of such remaining provisions or the rights of any parties hereto. To the
extent permitted by law, the parties hereto hereby waive any provision of law that renders any provision of this Agreement invalid
or unenforceable in any respect.

 

Section 8.06.     
Inspection and Audit Rights.

 

The Primary Servicer agrees
that, on reasonable prior notice, it will permit any representative of the Master Servicer, during the Primary Servicer’s
normal business hours, reasonable access at its principal servicing offices to examine all books of account, records, reports and
other documents of the Primary Servicer relating to the Mortgage Loans, to make copies and extracts therefrom, to cause such books
to be audited by accountants selected by the Master Servicer, and to discuss matters relating to the Mortgage Loans with the Primary
Servicer’s officers and employees.

 

Section 8.07.     
Protection of Confidential Information.

 

The Primary Servicer shall
keep confidential and shall not divulge to any party, without the Master Servicer’s prior written consent, any information
pertaining to the Mortgage Loans, the Mortgaged Properties or the Mortgagors except to the extent that the Primary Servicer provides
prior written notice to the Master Servicer and (a) it is appropriate for the Primary Servicer to do so (i) in working with legal
counsel, auditors, other advisors, taxing authorities or other governmental agencies, (ii) in accordance with Accepted Primary
Servicing Practices or (iii) when required by any law, regulation, ordinance, court order or subpoena or (b) the Primary Servicer
is disseminating general statistical information relating to the mortgage loans being serviced by the Primary Servicer (including
the Mortgage Loans) so long as the Primary Servicer does not identify the owner of the Mortgage Loans or the Mortgagors.

 

Section 8.08.     
Binding Effect; No Partnership; Counterparts.

 

Subject to Section 6.01
hereof, with respect to the Primary Servicer, the provisions of this Agreement shall be binding upon and inure to the benefit of
the respective successors and assigns of the parties hereto. Nothing herein contained shall be deemed or construed to create a
partnership or joint venture between the parties hereto, and the services of the Primary Servicer

 

    27

     

    

 

shall be rendered as an independent
contractor for the Master Servicer. For the purpose of facilitating the execution of this Agreement as herein provided and for
other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be
deemed to be an original, and such counterparts shall constitute but one and the same instrument.

 

Section 8.09.     
Third Party Beneficiaries.

 

The Trustee (for the benefit
of the Certificateholders and the related Companion Holder (if applicable)) and the Trustee (as holder of the Lower-Tier Regular
Interests) shall be a third party beneficiary under this Agreement. Except to the extent the Trustee or its designee assumes the
obligations of the Master Servicer contemplated in this Agreement and the PSA, none of the Trust, the Trustee, the Operating Advisor,
the Asset Representations Reviewer, the Certificate Administrator, Special Servicer, any successor special servicer or any Certificateholder
(or the related Companion Holder, if applicable) shall have any duties under this Agreement or any liabilities arising from this
Agreement.

 

Section 8.10.     
Article and Section Headings.

 

The article and section
headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning thereof.

 

[SIGNATURE PAGES TO FOLLOW]

 

    28

     

    

 

IN WITNESS WHEREOF, the
Master Servicer and the Primary Servicer have caused this Agreement to be duly executed by their respective officers thereunto
duly authorized as of the date first above written.

 

	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC
BANK, NATIONAL ASSOCIATION
	 	 
	 	By:	/s/ Bradley J. Hauger
	 	 	 
	 	Name:	Bradley J. Hauger
	 	 	 
	 	Title:	Senior Vice President
	 	 	 
	 	 	(“Master
Servicer”)

 

[SIGNATURE AND NOTICE ADDRESS PAGES AND MORTGAGE
LOAN 

SCHEDULES FOR THE PRIMARY SERVICER TO FOLLOW]

 

Berkeley-Midland Primary Servicing Agreement
– CCUBS 2017-C1 – Midland Signature Page 

 

    

     

    

 

	 	BERKELEY
POINT CAPITAL LLC
	 	 
	 	By:	/s/ Nancy Guanci
	 	 	 
	 	Name:	Nancy Guanci
	 	 	 
	 	Title: 	Vice President
	 	 	 
	 	By:	/s/ Leonarda Firmin
	 	 	 
	 	Name:	Leonarda Firmin
	 	 	 
	 	Title: 	Vice President
	 	 	 
	 	 	(“Primary
Servicer”)

 

	 	Notices:
	 	 
	 	Berkeley Point Capital LLC

One Beacon Street 14th
Floor

Boston, MA 02108

Attention: Director and
Head of Servicing

Fax Number: 617-722-5050

Email: Servicing.Requests@berkpoint.com 

	 	 
	 	With a copy to:
	 	 
	 	Berkeley Point Capital LLC

7700 Wisconsin Avenue, Suite 1100

Bethesda, MD 20814

Attention: Raqual Crea – Legal Department

Fax Number: 240-752-8121

 

Berkeley-Midland
Primary Servicing Agreement – CCUBS 2017-C1 – Berkeley Signature Page

 

    

     

    

 

SCHEDULE I

 

Mortgage Loan Schedule

 

	Property Name	Principal Balance	Primary Servicing Fee Rate

(basis points)
	130 Bowery	$ 12,000,000.00	5.00
	Kohl’s Reno	$ 6,067,596.00	7.00
	Harmon Corner Mortgage Loan (Note A-2)	$ 25,000,000.00	0.2500
	Harmon Corner Mortgage Loan (Note A-4)	$ 10,000,000.00	0.2500
	
        Harmon Corner Pari 

        Passu Companion Loan (Note A-1) 
	$ 30,000,000.00	0.2500
	
        Harmon Corner Pari 

        Passu Companion Loan (Note A-3) 
	$ 20,800,000.00	0.2500
	
        Harmon Corner Pari 

        Passu Companion Loan (Note A-5) 
	$ 30,000,000.00	0.2500
	
        Harmon Corner Pari 

        Passu Companion Loan (Note A-6) 
	$ 27,200,000.00	0.2500

 

Berkeley-Midland Primary Servicing Agreement
– CCUBS 2017-C1 – Schedule 

 

    

     

    

 

EXHIBIT “A”

 

(Day One Report)

 

(see attached)

 

    A-1

     

    

 

	Subservicer Name: _________________________________	 	 	 	 	 	 	 	 	 
	Deal Name: ______________________________________	 	 	 	 	 	 	 	 	 
	Reporting Period: _________________________________	 	DAY ONE REPORT	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Midland
    Loan #	Sub
    Loan #	Beg.
    Scheduled Prin Bal	Actual
    Paid To Date	Schdeuled
    Principal Balance	Prepayment
    Penalty	Prepayment
    Date	Scheduled
    Interest Payment	Scheduled
    Principal Payment	Scheduled
    P&I	Servicing
    Fee Rate	Servicing
    Fee	Net
    Remittance
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTALS:	 	 	 	 	 	 	 	 	 	 	 	 

 

    A-2

     

    

 

EXHIBIT “B”

 

(Inspection Reports)

 

(see attached)

 

    B-1

     

    

 

	 	 	 	 	 
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    B-2

     

    

 

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    or like new condition
All major building components are new or like new
All vacant units/space are rent ready &
    reflect the highest current market standards
No deferred maintenance items (only routine maintenance)
No life safety
    or code violations exist
Positive impact to marketability
Deferred Maintenance and Life Safety – No actions
    are required
	2	Above
    average condition for the property’s age and market, minimal wear and tear
All major building components in functional
    condition
All vacant units/space are rent ready or in the process of being made rent ready
No deferred maintenance items
    (only routine maintenance)
No life safety or code violations exist
No impact to marketability
Deferred Maintenance
    and Life Safety – No actions are required
	3	Normal
                                         condition for the property’s age and market, general wear and tear.

                                         All major building components in functional condition

                                         Most vacant units or space are rent ready or in the process of being made rent ready

                                         Minimal deferred maintenance and routine maintenance items with costs that can be funded
                                         by normal operations

                                         No/minor life safety or code violations exist

                                         No impact to marketability

                                         Deferred Maintenance and Life Safety - Appropriate actions are planned or in progress

	4	Deteriorating
                                         condition for the property’s age and market

                                         A building component is not in fully functional condition

                                         Few rent-ready units or space

                                         Limited major deferred maintenance &/or numerous minor deferred maintenance items

                                         Some life safety or code violations exist

                                         Negative impact to marketability

                                         Deferred Maintenance and Life Safety - Actions are not addressed as quickly
                                         as required and/or further action is necessary, additional monitoring may be appropriate
                                         

	5	Inferior
    conditions
Multiple building components non-functional
Vacant units or space are in poor to down condition
Severe
    deferred maintenance items
Multiple life safety or code violations exist
Negative impact to marketability
Deferred
    Maintenance and Life Safety – No Action taken and/or further action is necessary – additional monitoring is appropriate
	 Not
 Applicable	No
    components exist (therefore, no rating is possible)
	 Not
    
 Accessible	No
    component was visible due to inability to view the condition based on access, life safety, weather conditions or other blockages.
Deferred
    maintenance items can not be determined based on lack of access
Further action or review may be required

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-3

     

    

 

General
Info     

	  	  	  	  	  	  	  	  	  
	Company
    Name/Logo	  	Standard
    Inspection Form
	  	  	  	  	  	  	  	  	  
	 Inspection Date	 
    	 
    	Time   	 
    	  	Property City	 
    	 
    
	 Loan Number	 
    	  	  	  	  	Property State/Country	 
    	/               
	 Property Name	 
    	  	  	  	  	Overall Property Rating	 
    	 
    
	  	  	  	  	  	  	  	  	  
	 Servicer,
    Loan and Contact Information
	 Servicer Name	 
    	  	  	  	  	Contact Company	 
    	 
    
	 Owner of Loan	 
    	  	  	  	  	Contact Name	 
    	           /
	 Investor Number	 
    	     	  	  	  	Contact Phone	 
    	 
    
	 Investor Loan #	 
    	  	  	  	  	Contact
    Email	 
    	 
    
	 Property ID	 
    	  	  	  	  	Addt’l
    ID #1 (editable)	 
    	 
    
	 Original Loan Amount	  	 
    	  	  	  	Addt’l
    ID #2 (editable)	 
    	 
    
	 Loan Balance (UPB)	  	 
    	  	  	  	O&M Plan(1)	  	 
    
	 Loan Balance as
    of Date	  	 
    	  	  	  	Report Reviewed By	  	               /
	 (1)
    Includes ALL Plans (such as, but not limited to, Operations &
    Maintenance, Moisture Management and Environmental Remediation)
	 Property
    and Inspector Information
	 Property Name	 
    	  	  	  	  	Primary Property Type	  	 
    
	 Property Address	 
    	  	  	  	  	Secondary Property Type	  	 
    
	 Property City	 
    	  	  	  	  	Inspection Company	  	 
    
	 Property State	 
    	  	  	  	  	Inspection Co. Phone	  	 
    
	 Property Zip	 
    	  	  	  	  	Inspector’s Name	  	               /
	  	  	  	  	  	  	Inspector’s ID	  	 
    

 

	 Lender’s
    or Servicer’s General Comments or Instructions to Inspector for Subject Property:
	 
    
	 
    
	 
    
	 
    
	 
	 
    

 

	 Property
    Inspector’s General Comments or Suggestions to Lender or Servicer on the Subject Property:
	 
    
	 
    
	 
    
	 
	 
    
	 
    

	  	  	  	  	  	  	  
	 Overview
    of Property Information
	 Number of Buildings	 
    	  	Year Built	 
    
	 Number of Floors	 
    	  	  	  	Total Square Feet (Gross)	 
    
	 Number of Elevators	 
    	  	  	  	Total Sq. Feet (Net /
    Rentable)	 
    
	 Number of Parking
    Spaces	 
    	  	  	  	Occupied Space	 
    
	 Number of Units
    / Rooms / Beds	 
    	  	  	  	Vacant Space	 
    
	 Rent Roll obtained
    at Inspection	 
    	  	  	  	Total Percent Occupied	 
    
	 Total
    Number of Down Units / Rooms / Beds	  	 
    	  	Annual Occupancy	 
    
	 Unit of Measurement
    Used	  	  	 
    	  	Annual Turn Over	 
    
	  	  	  	  	  	  
	 Property
    Offers Rental Concessions	 
    	 
    	 
    	If
    yes, please describe concessions:
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	 
    	  	  	  	  	  	 
    
	

    Copywrite 2008 Mortgage Bankers Association, Washington, DC	  	  	    

 

 

    B-4

     

    

 

General
Info     

	  	  	  	  	  	  	  	  	  	  	  	  
	 Inspection Date	 
    	 
    	        Time   	 
    	  	Property City	 
    	  	 
    
	 Loan Number	 
    	  	  	  	  	  	  	Property State/Country	 
    	  	/
	 Property Name	 
    	  	  	  	  	  	  	Overall Property Rating	 
    	  	 
    
	  	  	  	  	  	  	  	  	  	  	  	  
	 Franchise Name	 
    	  	Franchise
    change since last inspection	 
    
	  	  	  	  	  	  	  	  	  
	 Number
    of Occupied Units Inspected	  	 
    	  	  	Number of
    Vacant Units Inspected	  	 
    
	  	  	  	  	  	  	  	  	  
	 Is there
    any dark space?	 
    	  	  Describe:	 	 
	 Is there
    any down space?	 
    	  	  Describe:	 	 

	  	  	  	  
	 Capital
    Expenditures	  	  	  
	 Describe
    in detail Repairs, Replacements or Capital Improvements	Identified
    Cost	Status
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    

	  	  	  	  	  	  	  	  
	 Neighborhood
    and Site Comparison Data
	 Is the
    area declining or distressed	  	 
    	  	Percent
    Use - %
	 Is there
    any new construction in the area	  	  	Single Family	 
    
	 Top 2 Major	1. 	Name or Type	 
    	 
    	  	Multifamily	 
    
	 Competitors:	  	  Distance	 
    	  	  	Commercial	 
    
	  	2.  	Name or Type	 
    	  	  	Industrial	 
    
	  	  	  Distance	 
    	  	  	Undeveloped	100%

 

	 Describe
    area, surrounding land use & overall trends (include location in relation to subject property - N, S, E, W):
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    

	  	  	  	  	  	  	  	  
	 Management
    Company Information	  	  	  
	 Management Company
    Name	 
    	  	Phone Number	 
    
	 On Site Contact	                    /	  	Mgmt Interview	 
    
	 Role or Title of
    Contact	 
    	  	Length of
    time at property	 
    
	 Management Affiliation	 
    	  	Change since
    last inspection	  	 
    
	  	  	  	  	  	  	  
	 Other
    Information
	 Additional
    Collateral Description Information	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	 
    	  	  	  	  	  	 
    
	
Copywrite
    2008 Mortgage Bankers Association, Washington, DC	  	  	    

 

    B-5

     

    

 

	  	 	 	  	  	  	  	  	  	  	  
	  	  	  	Physical
    Condition & DM     
	 	 	 	 
	Standard
                                         Inspection Form

         
	  	  
	Inspection Date	 
    	Time    	 
    	  	Property City	 
    
	Loan Number	 
    	  	Property State/Country	 
    	/	 
    
	Property Name	 
    	  	Overall Property
    Rating	 
    

 

	Physical
    Condition Assessment and Deferred Maintenance
	 

 

	Property
    Assessment

 

	Physical

        Condition
	Overall

        Rating
	Trend	Representative
                                         Components

        (Not all-inclusive)
	Inspector
    Comments
	 
    	 
    	  	  	  
	Curb
    Appeal	 
    	  	Comparison
    to Neighborhood; First Impression / Appearance	 
    
	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	  	  	  
	Site	 
    	  	Subject
    Property Appearance; Signage; Ingress/Egress; Landscaping; Site Lighting; Parking Lot; Striping; Garage/Carports; Irrigation
    System; Drainage; Retaining Walls; Walkways; Fencing; Refuse Containment & Cleanliness, Hazardous Material Storage	 
    
	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	  	  	  
	Building
                                         /

        Mechanical

        systems
	 
    	  	HVAC;
    Electrical; Boilers; Water Heaters; Fire Protection; Sprinklers; Plumbing; Sewer; Solar Systems; Elevators/ Escalators; Chiller
    Plant; Cooling Towers; Building Oxygen Systems; Intercom System; PA System; Security Systems	 
    
	 
    	 
    	 
    	 
    	 
    
	Building

        Exteriors
	 
    	 
    	Siding;
    Trim; Paint; Windows; Exterior Entry Ways; Stairs; Railings; Balconies; Patios; Gutters; Downspouts; Foundations; Doors; Façade;
    Structure (Beam/Joist)	 
    
	 
    	 
    	  	  	  
	Building

        Roofs
	 
    	  	Roof
    Condition; Roof Access; Top Floor Ceilings; Shingles/ Membrane; Skylights; Flashing; Parapet walls; Mansard roofs	 
    
	 
    	 
    	 
    	 
    	 
    
	Occupied

        Units
        / Space
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 

        Vacant
        Units /

        Space
        /

        Hotel
        Rooms

         
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 

        Down
        Units /

        Space
        /

        Hotel
        Rooms

         
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 
    	 
    	  	  	  
	Interior

        Common

        Areas
	 
    	  	Mailboxes;
    Reception Area; Lobby; Food Courts; Dining Areas; Kitchen; Halls; Stairways; Meeting Rooms; Public Restrooms; Storage; Basement;
    Healthcare Assistance Rooms; Pharmacy / Medication Storage; Nurses Station	 
    
	 
    	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-6

     

    

 

	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	  	  	 	 	 	Physical
    Condition & DM     
	 	 	 	 
	Inspection Date	 
    	Time    	 
    	  	Property City	 
    
	Loan Number	 
    	  	Property State/Country	 
    	/	 
    
	Property Name	 
    	  	Overall Property
    Rating	 
    

 

	Amenities
	 
    	 
    	Pool; Clubhouse;
        Gym; Laundry Area / Rooms; Playground; Wireless Access; Restaurant/Bar; Business Center; Sport Courts; Spa; Store; Media
        Center
	 
    
	Management

        Competence
	 
    	 
    	Professionalism;
    Ability to respond to questions; Knowledge of property; Knowledge of neighborhood/ market; Preparedness for inspection; Had
    all requested paperwork; Tenants notified	 
    

 

	Exterior
    - Additional description of the property conditions:
	 

         

         

	  
	Interior
    - Additional description of the property conditions:
	 

         

         

 

	Deferred
    Maintenance Items

 

	Identify
    Item and Describe Condition (including location)	Rating	Photo

        #
	Life

        Safety
	Est.
    Cost
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-7

     

    

 

	  	  	  	  	  	  	  	  	 	 	  
	Standard Inspection Form	  	  
	  	  	  	  	  	  	  	  	  	  
	Inspection Date	 
    	Time   	 
    	  	Property City	 
    	 
    	 
    
	Loan Number	 
    	 
    	 
    	  	Property State/Country	 
    	 
    	  /	 
    
	Property Name	 
    	 
    	 
    	  	Overall Property
    Rating	  	 
    
	  	  	  	  	  	  	  	  	  
	Photos

  

	 	 

 

    B-8

     

    

  

Mgmt Interview      

	  	  	  	  	  	  	  	  	 	 	  
	Company
    Name/Logo	  	  	Standard
    Inspection Form
	  	  	  	  	  	  	  	  	  	  
	Inspection Date	 
    	Time   	 
    	  	Property City	 
    	 
    	 
    
	Loan Number	 
    	 
    	 
    	  	Property State/Country	 
    	 
    	  /	 
    
	Property Name	 
    	 
    	 
    	  	Overall Property
    Rating	  	 
    
	  	  	  	  	  	  	  	  	  
	Management
    Information & Interview

 

	  	 
    	  	  	 
    	 
    	 
    
	Management Company Name	 
    	  	Phone Number	 
    	 
    
	Name of Information Source	                  /	  	Email Address	 
    	 
    
	Role or Title of Information
    Source	 
    	  	Length of
    time at property	 
    
	Management Affiliation	 
    	  	Mgmt change
    from last inspection	 
    

	  	  	  
	In your opinion, how does
    the property perform compared to similar properties in the area?	 
    	 
    
	In your opinion, what
    is the average percentage of vacancy in similar properties in the area?	  	 
    
	Based on market survey,
    what is the current average rents paid in the area ($ per square foot/units/beds)?	  	 
    
	In
    your opinion, explain the reason for any variance on vacancy & rents between the market and the subject property:	  	  
	 
    	  	 
    
	  	  	  
	In the past 12 months,
    have there been any fires, significant water intrusion or other property damage?	  	 
    
	If
    yes, explain the location on the property, costs associated, any insurance claims submitted, resolution & leaseability:	  	  
	 
    	  	 
    
	  	  	  
	In the past 12 months,
    to the best of your knowledge, have any code violations been received?	  	 
    
	If
    yes, please describe the violation, the costs associated and any resolution or outstanding issues:	  	  
	 
    	  	 
    
	  	  	  
	Is the property undergoing
    any significant rehab/construction?	  	 
    
	If
    yes, explain the location, size and estimated costs:	  	  
	 
    	  	 
    
	  	  	  
	Is the property in compliance
    with ALL O&M Plan(s)?	 
    	 
    
	(Plans
    such as, but not limited to, Operations and Maintenance, Moisture Management and Environmental Remediation.)	  	  
	If
    no, please explain which plan(s), the requirements, noncompliance items and estimated costs:	  	  
	 
    	  	 
    
	  	  	  
	Any change or violations
    of a Franchise Agreement or License(s) at the property?	 
    	 
    
	If
    yes, please explain any change or violation, costs & any resolution or outstanding issues:	  	  
	 
    	  	 
    
	  	  	  
	To the best of your knowledge,
    are there any lawsuits pending that may negatively impact the property?	  	 
    
	If
    yes, please explain:	  	  
	 
    	  	 
    
	  	  	  
	Other
    Information or Comments:	  	  
	 
    	  	  
	 
    	  	 
    
	  	  	  
	Copyright
    2008 Mortgage Bankers Association, Washington, DC	  	   

 

    B-9

     

    

 

Multifamily 

 

Standard
Inspection Form 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property
    State/Country	 
    	 /	 
    
	Property
    Name	 
    	 
    	 
    	Overall
    Property Rating	 
    

 

	Multifamily,
    Mobile Homes, Cooperative Housing, Student Housing

	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Property
    Information
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Heat at the
    Property	 
    	  	  	Gas at the
    Property	 
    
	Water at the
    Property	 
    	  	  	Trash at the
    Property	 
    
	Electric at
    the Property	 
    	  	  	Cable at the
    Property	 
    
	Change to
    Major Employer	 
    	  	  	If yes, describe:	 
    
	Change to
    Commercial/Retail	 
    	  	  	If yes, describe:	 
    
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  Unit Breakdown	 	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	#
    of Bedrms	#
    of Bath	#
    of Units	Avg
    Ft2
    / Unit	Monthly
    Rent	#
    Occupied	#
    Vacant	#
    Down	#
    Inspected
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Totals	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Tenant Profile	 	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 
    	 
    
	   Corporate	 
    	  	Military	 
    	  	Seasonal	 
    	  	Seniors	 
    	  	Students	 
    	Other	100%
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Property
    Condition
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Detailed
    Report of Units Inspected	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Unit
    #	#
    of Bedrms	#
    of Bath	Square
    Feet	Asking
    Rent	Current
    Use	 Overall
    Condition	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	    

 

 

    B-10

     

    

 

Healthcare     

 

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	Healthcare,
    Nursing Home, Hospitals

	 
	   Property Information
	 

	 	 	 	 	 	 	 	 	 	 
	 	General Information	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Total Number of Beds	 	 	 	Number of Beds Occupied	 
	 	 	 	 	 	% Occupied	 
	 	 	 	 	 	 	 
	 	New Patients Currently being Accepted  	 	 	 	Admission Waiting Period	 
	 	 	 	 	 	Proximity to a Hospital	 

	 	 	 	 	 	 	 	 	 	 
	 	Level of Care Breakdown	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Unit Type	Total #

Beds	Total # Beds Occupied	
        Total # 

        Units
	Total # Units

Occupied	Avg. S.F. / 

Unit	 Monthly 

Rent	# Beds

Vacant
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	  Totals	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Administrator’s Name	 	/	 	 	Length of Time at Property	 	 
	 	Director of Nursing’s Name	 	/	 	 	Length of Time at Property	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Direct Care Staff Numbers	 	Day	Evening	Night	Comments
	 	 	Nurses -	RNs	 	 	 	 	 
	 	 	Nurses -	LPNs	 	 	 	 	 
	 	 	Other Direct Care	 	 	 	 
	 	Non Direct Care Personnel	 	 	 	 
	 	Total Staff	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Regulatory / Licensing Agency Information	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Name of the Agency	 	 	 	Contact Person	                    /	 	 
	 	Expiration Date of Operating License	 	 	All Licenses Current	 	 	 
	 	Date of last Medicare inspection	 	 	Property Medicare Certified	 
	 	Date of last Medicaid inspection	 	 	Property Medicaid Certified	 
	 	Please describe any violations, costs associated, resolution or outstanding issues: 
	 	 

 

	      Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-11

     

    

 

Healthcare     

 

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

	 	 	 	 	 	 	 	 	 
	Property Condition	 	 	 	 
	Handrails in the halls	 	 	Exits clearly marked	 
	Grab bars present in rest rooms	 	 	Intercom System	 
	Staff interacts well with residents	 	 	Generator Function	 
	Facility looks and smells clean	 	 	 	 
	Additional description of any safety or deficiency issues observed: 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Units or Beds Inspected	 	 	 	 	 
	 	 	 	 	 	 	 
	Down Units (List the unit #)	 	 	 	 
	 	 	 	 	 	 	 
	Detailed Report of Units Inspected	 	 	 	 

 

	Unit #	# of Bedrms	# of Bath	Square Feet	Asking Rent	Current Use	Overall Condition
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

  

	      Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-12

     

    

  

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

	  	 	 	 	 	 	 	 	 	  	 	 	  	 	  
	Rent
    Roll
	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	Rent Roll Attached	 
    	  	  	(Select
    One)	  	  
	Rent Roll Summary Attached	 
    	  	  	  	  	  	  
	Single Tenant Property	 
    	  	  	Lease expires:	  	  
	Hospitality Property	 
    	  	  	YTD ADR:	  	  	RevPAR: 	 	  	ADO: 	  
	  	  	  	  	  	  	  	  	  	  	  
	Insert
    Rent Rolls in the space below using Excel commands or via Copy and Paste

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-13

     

    

  

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date   	 
    	Time	 
    	 
    	 
Property
    City    		 
    
	Loan
    Number   	 
    	 
    	Property State/Country	  	 
	 
    	   	 
    
	Property
    Name   	 
    	 
    	Overall Property
        Rating	
	 
    

 

	Maps
	  

 

	  	Regional
    Map
	  	  
	  	 

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

	  	  
	  	Neighborhood
    Map
	  	  
	  	 

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	    

 

    B-14

     

    
 

Comprehensive
Assessment Addendum     

	  	 	  
	Company
    Name/Logo	 	Standard
    Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	 
    	 
    	 
    	 
    	 
    
	Limitations
    of Field Assessment
	  
	Did
    you experience any of the following limitations to performing this field assessment:  (Choose Yes/No)	  
	  	Management
    unavailable for interview or management experience on the property is less than six months	 
    
	  	Occupied units
    were unavailable for assessment, or the total number of units available (occupied or unoccupied) was insufficient	 
    
	  	Significant
    portions of the common areas, amenities or basements, etc. were unavailable for assessment	 
    
	  	Snow was covering
    most exterior areas (parking lots, roofs, landscape areas)	 
    
	  	Other	  	  	  
	  	None	 
    	  	  
	  	Comment:	 
    	  	 
    

	  	  	  
	Comprehensive
    Property Assessment Ratings
	  	  	  
	1.  	Life
    Safety (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	2.	Deferred
    Maintenance (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	3.	Routine
    Maintenance (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	4.	Capital
    Needs (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	5.	Level/Volume
    of issues noted and appropriate follow-up recommendations (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    

	  	  	  	  	  	  
	Overall
    Rating and Additional Comments
	  
	Overall
    Rating Scale:	 

         
	  
	  	  	1
    = No substantial concerns observed. No further action required.
	 	 	 
	  	  	2 = Some
    minor issues noted. Limited follow-up required.
	 	 	 
	  	  	3 = Substantial
    and/or critical issues noted. Documented follow-up required.
	 	 	 
	  	  	4 = Overall
    condition showing signs of deterioration. Documented follow-up with possible action plan required.
	 	 	 
	  	  	5 = Severe
    deferred maintenance observed. Follow-up and substantial action plan required.
	  	  	  	  	  
	  	Comment: 	 

         

	  	  	  	  	  
	Inspector
    Information
	  	  	  	  	  
	Seller/Servicer
    Certification	Date:	 
    	 
    
	  	  	  	  	  
	First
    Name:	 
    	 
    	 
    	 
    
	Last
    name:	 
    	 
    	 
    	 
    
	Title:	 
    	 
    	 
    	 
    
	Phone
    Number:	 
    	 
    	 
    	 

  

	Copywrite
    2008 Mortgage Bankers Association, Washington, DC	    

 

    B-15

     

    

 

Comprehensive
Assessment Addendum     

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	Email
    Address:	 
    	 
    	 
    	  

  

	Copywrite
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-16

     

    

 

EXHIBIT
“C”

 

(Quarterly
Reports)

 

(see
attached)

 

    C-1

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	INSURANCE
    MONITORING REPORT

  

	 Servicer 
Loan
    #	MLS
 Loan
    # 	 Borrower 
Name	 Property 
Name	 Property 
Address	 Effective 
Date	 Expiration 
Date	 Insurance 
Co.	Type
    of
 Coverage 	Policy
 Number 	 Coverage 
Amount	 Deductible 	 Escrowed 
(Y/N)	 Loss Payee Endorsement 

        Reflects Trust
        (Y/N)
	Meets
Qualified
    Ins
 Ratings (Y/N) 	Frequency
    of
 Disbursement 
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    

 

Note:  Please
include one line per Insurance coverage.

  

The
undersigned hereby certifies that it holds in its custody a certificate or other appropriate proof of valid insurance on the individual
properties which are securing mortgage loans held by the above referenced “transaction/securitization” which
are subserviced by the undersigned on behalf of Midland Loan Services, Inc. The hazard coverage provided by such policies
complies with the requirements of the individual loan documents. The properties are correctly identified in the policies,
and all improvements thereon to be insured are included and properly described; that the name or names of the insured exactly
conform to the names or names in which title is held; that a standard, non contributory clause in favor of _______________________ is
or endorsed on the policies. The amount of coverage is not less than the amount required under the individual loan documents.

 

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

 

    C-2

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	TAX
    MONITORING REPORT

  

	
 Servicer Loan

 #	MLS
 Loan # 	 Borrower 
Name	 Property
    Name 	 Property 
Address	 Property
    City 	 Property 
State	 Property
    Zip 
Code	 Parcel
    No. 	 Tax Authority 
Name	 Tax
    Type 	Next
    Tax
 Due Date 	 Escrowed 
(Y/N)
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

Note:  Please
include one line per tax parcel.

  

The
undersigned hereby certifies that it has inspected actual tax receipts or has otherwise verified full payment of all real estate
taxes for the year __________________________ and prior years on properties covered by all mortgage loans subserviced by
it on behalf of Midland Loan Services, Inc., and held by __________________________ excepting only the loans hereinafter
listed; the undersigned further certifies that no unredeemed sales certificates or other tax liens are outstanding against any
of the aforesaid properties other than as stated below.

  

	Loan
    Number	Mortgagor	Explanation

  

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

 

    C-3

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	UCC
    MONITORING REPORT

 

	Servicer
    Loan 

#	MLS
Loan #	Borrower
Name	State
    of Incorporation 

or State of Residence	Property
Name	Filing
    Type	Filing
Location	Original Filing 
Number	Original
Filing
    Date	Expiration
Date	
Trust
    is Named
Beneficiary (Y/N)
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

	Note:  Please
    include one line per UCC filing.

 

The
undersigned hereby certifies that it has inspected actual UCC-1 filings or has otherwise verified filing of all UCC-1 documents
and further certifies that there has been no lapse in lien position on the collateral secured by said UCC-1 filings for all loans
subserviced on behalf of Midland Loan Services, Inc., and held by ______________________________ .

  

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

  

	Please
    forward to Midland Loan Services copies of all filings and attachments.	  

	If
    copies cannot be supplied, Midland will need the following information:

 

	  	  	Exact
    Name and Address of current beneficiary (if not assigned to the Trust)
	  	  	Complete
    Address of the Borrower
	  	  	Copies
    of collateral description and legal description

 

    C-4

     

    

 

EXHIBIT
“D”

 

(Remittance
Reports)

 

(see
attached)

 

    D-1

     

    

  

	TRANSACTION
    NAME:	 
    	 
    	  	  	  	  	  
	SUBSERVICER:	 
    	 
    	  	  	  	  	  
	FOR
    DISTRIBUTION DATE:	  	  	  	  	  	  	  

 

	MASTER

        SERVICER #
	 SUBSERVICER 

        LOAN #
	BORROWER
NAME	BEGINNING

        BALANCE
	PAYMENT
AMOUNT	PRINCIPAL
    AMOUNT	INTEREST
AMOUNT	SERVICE

        FEE
	NET
INTEREST	NET

        REMITTANCE
	ENDING

        BALANCE
	PAYMENT
DATE
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	TOTALS	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

    D-2

     

    

 

EXHIBIT “E”

 

(Form of Mortgagee Clause for Insurance Policies)

 

The mortgagee clause for insurance policies should
be as follows:

 

Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer, on behalf of
Wells Fargo Bank, National Association, as Trustee, for the benefit of the Holders of CCUBS
Commercial Mortgage Trust 2017-C1, Commercial Mortgage Pass-Through Certificates, Series 2017-C1 

 

    E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00277-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00277-of-00352.parquet"}]]