Document:

Exhibit 4.14

 

 

EXECUTION
VERSION

 

CO-LENDER
AGREEMENT

 

Dated as
of April 26, 2016

by and between

 

STARWOOD
MORTGAGE FUNDING VI LLC

(Initial Note A-1 Holder)

 

and

 

STARWOOD
MORTGAGE FUNDING V LLC 

(Initial
Note A-2 Holder)

 

Embassy
Suites Lake Buena Vista  

 

    

     

    

 

TABLE OF
CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	1
	 	 	 
	Section 2.	Servicing of the Mortgage Loan	16
	 	 	 
	Section 3.	Priority of Payments	23
	 	 	 
	Section 4.	Workout	25
	 	 	 
	Section 5.	Administration of the Mortgage Loan	25
	 	 	 
	Section 6.	Appointment of Controlling Note Holder Representative and Non-Controlling
    Note Holder Representative	29
	 	 	 
	Section 7.	Appointment of Special Servicer	32
	 	 	 
	Section 8.	Payment Procedure	33
	 	 	 
	Section 9.	Limitation on Liability of the Note Holders	34
	 	 	 
	Section 10.	Bankruptcy	34
	 	 	 
	Section 11.	Representations of the Note Holders	35
	 	 	 
	Section 12.	No Creation of a Partnership or Exclusive Purchase Right	35
	 	 	 
	Section 13.	Other Business Activities of the Note Holders	35
	 	 	 
	Section 14.	Sale of the Notes	36
	 	 	 
	Section 15.	Registration of the Notes and Each Note Holder	39
	 	 	 
	Section 16.	Governing Law; Waiver of Jury Trial	39
	 	 	 
	Section 17.	Submission To Jurisdiction; Waivers	39
	 	 	 
	Section 18.	Modifications	40
	 	 	 
	Section 19.	Successors and Assigns; Third Party Beneficiaries	40
	 	 	 
	Section 20.	Counterparts	41
	 	 	 
	Section 21.	Captions	41
	 	 	 
	Section 22.	Severability	41
	 	 	 
	Section 23.	Entire Agreement	41

 

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	Section 24.	Withholding Taxes	41
	 	 	 
	Section 25.	Custody of Mortgage Loan Documents	42
	 	 	 
	Section 26.	Cooperation in Securitization	42
	 	 	 
	Section 27.	Notices	43
	 	 	 
	Section 28.	Broker	44
	 	 	 
	Section 29.	Certain Matters Affecting the Agent	44
	 	 	 
	Section 30.	Termination and Resignation of Agent	44
	 	 	 
	Section 31.	Resizing	45
	 	 	 
	Section 32.	Statement of Intent	46

 

    -ii-

     

    

 

THIS
CO-LENDER AGREEMENT (this “Agreement”), dated as of April 26, 2016 by and between STARWOOD MORTGAGE FUNDING
VI LLC, a Delaware limited liability company (“Starwood” and together with its successors and assigns in interest,
in its capacity as initial owner of the Note A-1, the “Initial Note A-1 Holder”, and in its capacity as
the initial agent, the “Initial Agent”) and STARWOOD MORTGAGE FUNDING V LLC, a Delaware limited liability company
(together with its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial
Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).

 

W I T N E
S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), Starwood Mortgage Capital LLC (“Original Lender”)
originated a certain loan described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”)
(the “Mortgage Loan”) to the mortgage loan borrower described on the Mortgage Loan Schedule (the “Mortgage
Loan Borrower”), which was evidenced, inter alia, by two promissory notes (as amended, modified or supplemented,
the “Notes”) (i) one promissory note in the original principal amount of $31,000,000.00 (“Note A-1”)
made by the Mortgage Loan Borrower in favor of the Original Lender (“Initial Note A-1”) and (ii)
one promissory note in the original principal amount of $11,000,000.00 (“Note A-2”), made by the Mortgage Loan
Borrower in favor of the Original Lender (“Initial Note A-2”); and secured by that certain Amended
and Restated Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (as amended, modified or supplemented,
the “Mortgage”) on certain real property located as described in the Loan Agreement (the “Mortgaged
Property”);

 

WHEREAS,
the Original Lender assigned the Initial Note A-1 to the Initial Note A-1 Holder on the date hereof;

 

WHEREAS,
WHEREAS, the Original Lender assigned the Initial Note A-2 to the Initial Note A-2 Holder on the date hereof; and

 

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

 

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

 

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

 

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

 

    

     

    

 

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

 

“Agent
Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement
is located at 1601 Washington Avenue, Suite 800, Miami Beach, Florida 33139, Attention: Leslie Fairbanks, and which is the address
to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated office
by notice to the Noteholders

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    2

     

    

 

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

 

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

 

“Controlling
Note Holder” shall mean the Note A-1 Holder; provided that at any time Note A-1 is included in the Lead Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in the Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned
the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the
Lead Securitization Servicing Agreement; provided that if at any time 50% or more of Note A-1 (or class of securities issued
in the Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights
to exercise the rights of the “Controlling Note Holder”) is held by the Mortgage Loan Borrower or an Affiliate of
the Mortgage Loan Borrower, Note A-1 (or the class of securities issued in the Lead Securitization designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”)
shall not be entitled to exercise any rights of the Controlling Note Holder and the Note A-2 Holder shall be the Controlling Note
Holder unless 50% or more of Note A-2 (or the class of securities issued in the Non-Lead Securitization designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”)
is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower. If 50% or more of each of Note A-1 and Note
A-2 (or class of securities issued in the Lead Securitization and Non-Lead Securitization designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”)
is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, no person shall be entitled to exercise the
rights of the Controlling Note Holder.

 

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

 

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

 

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

 

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

 

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

 

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

 

    3

     

    

 

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

 

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

 

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

 

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

 

“Interest
Rate” shall mean the Interest Rate (as defined in the Mortgage Loan Documents).

 

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

 

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

 

“Lead
Securitization” shall mean (a) during the period from and after the Securitization of Note A-2 and prior to the Securitization
of Note A-1, the Note A-2 Securitization and (b) on and after the Securitization of Note A-1, the Securitization Trust to be designated
by the Initial Note A-1 Holder.

 

“Lead
Securitization Note” shall mean (a) during the period from and after the Note A-2 Securitization Date and prior to the
Note A-1 Securitization Date, Note A-2, and (b) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead
Securitization Servicing Agreement” shall mean (i) during the period from and after the Note A-2 Securitization Date
and prior to the Note A-1 Securitization Date, the pooling and servicing agreement entered into in connection with the Securitization
of Note A-2 and (ii) on and after the Note A-1 Securitization Date, the pooling and servicing agreement to be entered into in
connection with the Securitization of Note A-1. The Servicing Standard in the Lead Securitization Servicing Agreement shall require,
among other things that each Servicer, in servicing the Mortgage Loan, must take into account the interests of each Note Holder.

 

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

 

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

 

“Liquidation
Fee” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement, provided that
under no circumstances shall the Liquidation Fee accrue at a rate of more than 1.0% per annum.

 

“Major
Decisions” shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing
Agreement; provided that at any time that Note A-1 is not included in the Lead Securitization “Major Decision”
shall mean:

 

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

 

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

 

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

 

(iv)        
any sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property for less than the applicable Purchase
Price (as defined in the Lead Securitization Servicing Agreement);

 

(v)         
any determination to bring a Mortgaged Property or an REO Property into compliance with applicable environmental laws or
to otherwise

 

    5

     

    

 

address
any Hazardous Materials (as defined in the Lead Securitization Servicing Agreement) located at a Mortgaged Property or an REO
Property;

 

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

 

(vii)       
any waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan
or any consent to such a waiver or consent to a transfer of a Mortgaged Property or interests in the borrower;

 

(viii)      
any incurrence of additional debt by a borrower or any mezzanine financing by any beneficial owner of a borrower (to the
extent that the lender has consent rights pursuant to the related Mortgage Loan Documents);

 

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

 

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

 

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

 

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

 

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

 

(xiv)      
any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances
described in paragraph (c) of the definition of “Specially Serviced Mortgage Loan” (as defined in the Lead Securitization
Servicing Agreement); or

 

(xv)        any approval of a Major Lease (as defined in the Mortgage Loan Documents) to the extent lender’s approval is required
by the Mortgage Loan Documents;.

 

    6

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of April 26, 2016, between ESLBV PROPERTY OWNER, LLC, a Delaware
limited liability company, as Borrower, and STARWOOD MORTGAGE CAPITAL LLC, a Delaware limited liability company, as Lender, as
the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

 

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

 

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

 

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

 

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

 

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

 

“Nonrecoverable
Servicing Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Non-Controlling
Note” shall mean Note A-2.

 

“Non-Controlling
Note Holder” means the Note A-2 Holder; provided that at any time Note A-2 is included in a Securitization, references
to the “Non-Controlling Note Holder” herein shall mean the Non-Lead Securitization Subordinate Class Representative
or any other party assigned the rights to exercise the rights of the “Non-Controlling Note Holder” hereunder, as and
to the extent provided in the related Non-Lead Securitization Servicing Agreement and as

 

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to
the identity of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) has been given written
notice; provided that if at any time 50% or more of Note A-1 is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage
Loan Borrower, Note A-1 shall not be entitled to exercise any rights of the Controlling Note Holder and the Note A-2 Holder shall
be the Controlling Note Holder unless 50% or more of Note A-2 is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage
Loan Borrower. If 50% or more of each of Note A-1 and Note A-2 is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage
Loan Borrower, no person shall be entitled to exercise the rights of the Controlling Note Holder. The Lead Securitization Note
Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with more
than one party exercising the rights of the “Non-Controlling Note Holder” herein or under the Lead Securitization
Servicing Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to
more than one party or (y) to the extent Note A-2 is split into two or more New Notes pursuant to Section 31, for purposes of
this Agreement, the Non-Lead Securitization Servicing Agreement or the holders of such New Notes shall designate one party to
deal with Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) and provide written
notice of such designation to the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer acting on
its behalf); provided that, in the absence of such designation and notice, the Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received
written notice as having been designated as the Non-Controlling Note Holder, as the Non-Controlling Note Holder for all purposes
of this Agreement. As of the date hereof and until further notice from the Non-Lead Securitization Note Holder (or the Non-Lead
Master Servicer or another party acting on its behalf), the Initial Note A-2 Holder is the Non-Controlling Note Holder.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead
Securitization Note” shall mean (a) during the period from and after the Securitization of Note A-2 and prior to the
Securitization of Note A-1, Note A-1, and (b) on and after the Securitization of Note A-1, Note A-2.

 

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

 

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

 

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

 

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

 

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

 

    9

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“P&I
Advance” shall mean an advance made by (a) a party to the Lead Securitization Servicing Agreement in respect of a delinquent
monthly debt service payment on the Lead Securitization Note or (b) a party to the Non-Lead Securitization Servicing Agreement
in respect of a delinquent monthly debt service payment on the Non-Lead Securitization Note.

 

“Percentage
Interest” shall mean, (a) with respect to the Note A-1 Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance and the Note
A-2 Principal Balance, and (b) with respect to the Note A-2 Holder, a fraction, expressed as a percentage, the numerator of which
is the Note A-2 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance and the Note A-2 Principal
Balance.

 

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

 

    10

     

    

 

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

 

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

 

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

 

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

 

(a)          an entity Controlled (as defined herein) by, under common Control with or that Controls either of the Initial Note Holders,
or

 

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

 

(c)          one or more of the following:

 

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

 

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

 

(iii)          a Qualified Trustee in connection with (a) the Lead Securitization of, (b) the creation of collateralized debt
obligations (“CDO”) secured by, or (c) a financing through an “owner trust” of, a Note or
any interest therein (any of the foregoing, a “Securitization Vehicle”), provided that (1) one
or more classes of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the
Rating Agencies that assigned a rating to one or

 

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

 

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

 

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

 

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

 

(d)          any entity Controlled by any of the entities described in clause (b) above or approved by the Rating Agencies hereunder
as a Qualified Institutional Lender for

 

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purposes
of this Agreement, or as to which the Rating Agencies have stated they would not review such entity in connection with the subject
transfer.

 

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

 

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

 

“Rating
Agency Confirmation” shall mean prior to a Securitization with respect to any matter, confirmation in writing (which
may be in electronic form) by each applicable Rating Agency that a proposed action, failure to act or other event so specified
will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any class
of certificates (if then rated by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating Agency
indicating its decision not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy
the requirement for the Rating Agency Confirmation from each Rating Agency with respect to such matter and after a Securitization,
the meaning given thereto or any analogous term in the Lead Securitization Servicing Agreement or Non-Lead Securitization Servicing
Agreement, as applicable, including any deemed Rating Agency Confirmation.

 

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

 

“Regulation
AB” shall mean Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-220.1125,
as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Securities
and Exchange Commission or by the staff of the Securities and Exchange Commission, or as may be provided by the Securities and
Exchange Commission or its staff from time to time.

 

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

 

“Required
Special Servicer Rating” (1) at any time that the Lead Securitization Note is included in the Lead Securitization, shall
have the meaning assigned to such term or any analogous term in the Lead Securitization Servicing Agreement, and (2) at any other
time, shall

 

    13

     

    

 

mean
with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii) in the case of S&P,
such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in
the case of Moody’s, such special servicer is acting as special servicer for one or more loans included in a commercial
mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date of determination,
and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed
any class of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such
commercial mortgage loans as the sole or material factor, (iv) in the case of Morningstar, either (a) the applicable replacement
has a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked
by Morningstar, is currently acting as a master servicer or special servicer, as applicable, on a deal or transaction-level basis
for all or a significant portion of the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s,
Fitch, DBRS or KBRA and the trustee does not have actual knowledge that Morningstar has, and the replacement special servicer
certifies that Morningstar has not, with respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating
or ratings on one or more classes of such CMBS transaction citing servicing concerns of the applicable replacement as the sole
or material factor in such rating action, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer
as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status”
in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior
to the time of determination, and (vi) in the case of DBRS, such special servicer is acting as special servicer in a commercial
mortgage loan securitization that was rated by DBRS within the twelve (12) month period prior to the date of determination and
DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class
of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial
mortgage securities as a material reason for such downgrade or withdrawal.

 

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

 

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

 

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

 

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

 

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

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which Note A-1 or Note A-2 is held.

 

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

 

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

 

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

 

“Servicing
Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Servicing
Fee” shall mean a fee payable to the Master Servicer pursuant to the terms of the Lead Securitization Servicing Agreement
that will generally be calculated as the product of (i) the Servicing Fee Rate and (ii) the Note A-1 Principal Balance and the
Note A-2 Principal Balance, as applicable, as of the date of determination.

 

“Servicing
Fee Rate” shall have the meaning applied to such term in the Lead Securitization Servicing Agreement, being the rate
per annum (which shall consist of the primary servicing fee rate) which, when applied to the Note A-1 Principal Balance and the
Note A-2 Principal Balance, as applicable, will determine the primary servicing fee payable to the Master Servicer under the Lead
Securitization Servicing Agreement; provided that such Servicing Fee Rate shall be fixed prior to the pricing of the first
Securitization and under no circumstances shall the Servicing Fee Rate exceed 0.0025% per annum.

 

“Special
Servicer” shall mean the special servicer appointed as provided in the Lead Securitization Servicing Agreement and this
Agreement.

 

“Special
Servicing Fee” shall have the meaning given to such term in the Lead Securitization Servicing Agreement, provided
that under no circumstances shall the Special Servicing Fee accrue at a rate of more than 0.25% per annum on the
Mortgage Loan or any related REO Property; provided that if such rate would result in a Special Servicing Fee with
respect to the Mortgage Loan or any related REO Property that would be less than $3,500 in any given month, then the Special
Servicing Fee shall accrue for the Mortgage Loan or any related REO Property at such higher rate as would result in a Special
Servicing Fee equal to $3,500 for such month.

 

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

 

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

 

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

 

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

 

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

 

“Workout
Fee” shall have the meaning given to such term in the Lead Securitization Servicing Agreement, provided that
under no circumstances shall the Workout Fee accrue at a rate of more than 1.0% per annum.

 

Section
2.       Servicing
of the Mortgage Loan.

 

(a)           Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced
from and after the Securitization Date pursuant to the Lead Securitization Servicing Agreement; provided that the Master
Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other than the Lead
Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance
delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance
and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement including
any provisions governing the determination of non-recoverability. Each Note Holder acknowledges that the other Note Holder may
elect, in its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 26, reasonably
cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. Subject to the
terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of
the Master Servicer, Operating Advisor, Certificate Administrator, the Asset Representations Reviewer and the Trustee under the
Lead Securitization Servicing Agreement by the Depositor and the appointment of the initial Special Servicer by the Controlling
Note Holder as may be replaced pursuant to the terms of the Lead Securitization Servicing Agreement and agrees to reasonably cooperate
with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead
Securitization Servicing Agreement. Each Note Holder hereby irrevocably appoints the Master Servicer, the Special Servicer and
the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents reasonably required
with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement
(subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing Agreement). In
no event shall the Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note Holder against
the other Note Holder or limit the Servicer in enforcing the rights of one Note Holder against the other Note Holder; however,
this statement

 

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

 

At
any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note
Holders agree to cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note
Holders, pursuant to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing
Agreement and all references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing
agreement; provided, however, that if the Non-Lead Securitization Note is in a Securitization, then a Rating Agency
Confirmation shall have been obtained from each Rating Agency; provided, further, however, that until a replacement
servicing agreement has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant
to the provisions of the Lead Securitization Servicing Agreement as if such agreement was still in full force and effect with
respect to the Mortgage Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization
Note Holder that is a qualified servicer meeting the requirements of the Lead Securitization Servicing Agreement.

 

(b)           The Master Servicer shall be the master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the
extent provided in the Lead Securitization Servicing Agreement) (i) shall be required to (and the Special Servicer may, under
certain circumstances as provided in the Servicing Agreement) make Servicing Advances with respect to the Mortgage Loan, subject
to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be required to make P&I Advances
on the Lead Securitization Note, if and to the extent provided in the Lead Securitization Servicing Agreement and this Agreement.
The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for a Servicing Advance,
first from funds on deposit in the Certificate Account or Companion Distribution Account for the Mortgage Loan that (in
any case) represent amounts received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable Servicing
Advances, if such funds on deposit in the Certificate Account or Companion Distribution Account are insufficient, from general
collections of the Lead Securitization as provided in the Lead Securitization Servicing Agreement and from general collections
of the Non-Lead Securitization as provided below. The Master Servicer, the Special Servicer and the Trustee, as applicable, will
be entitled to reimbursement for Advance Interest Amounts on a Servicing Advance or a Nonrecoverable Servicing Advance, in the
manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of the
Lead Securitization and, in the case of Servicing Advances or Advance Interest Amount on a Servicing Advance, from general collections
of the Non-Lead Securitization as provided below. To the extent the Master Servicer, the Special Servicer or the Trustee, as applicable,
obtains funds from general collections of the Lead Securitization as a reimbursement for a

 

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

 

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

 

The
master servicer under the Non-Lead Securitization Servicing Agreement (the “Non-Lead Master Servicer”) may
be required to make P&I Advances on the Non-Lead Securitization Note, from time to time, subject to the terms of the servicing
agreement for the related Securitization (the “Non-Lead Securitization Servicing Agreement”), the Lead Securitization
Servicing Agreement and this Agreement. The Master Servicer, the Special

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(vi)        
in the event of a proposed replacement of the Special Servicer, the Non-Lead Trustee shall use commercially reasonable
efforts to prepare and file on behalf of the Non-Lead Securitization Trust a Form 8-K relating to such replacement that complies
with the Exchange Act on the same day that a Form 8-K relating to such replacement is filed on behalf of the Lead Securitization;
provided that the Non-Lead Depositor and a responsible officer of the Non-Lead Trustee has received notice of such proposed replacement
(including any disclosure or other information required to be included in such Form 8-K as well as the requirement and timing
for filing such Form 8-K) at least 5 Business Days prior to such filing date. The Note A-1 Holder (including, as the context requires,
the Depositor, Master Servicer, Special Servicer, Trustee or controlling class representative (or analogous term) relating to
the related Lead Securitization Trust, on behalf of such Note A-1 Holder) shall be a third party beneficiary of the foregoing
provision.

 

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

 

(i)          
compensating interest payments as defined therein with respect to Note A-1 and Note A-2 will be allocated by the Master
Servicer between Note A-1 and Note A-2, pro rata, in accordance with their respective principal amounts. The Master Servicer shall
remit any compensating interest payment in respect of the Non-Lead Securitization Note to the Non-Lead Securitization Note Holder;

 

(ii)         
 the Master Servicer shall remit all payments received with respect to the Non-Lead Securitization Note, net of the Servicing
Fees payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable
fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the Non-Lead Securitization Note
Holder on or prior to the earlier of (A) the Master Servicer Remittance Date or (B) the business day following the “determination
date” (or analogous term) under the Non-Lead Securitization Servicing Agreement related to the Securitization of the Non-Lead
Securitization Note;

 

(iii)         with respect to the Non-Lead Securitization Note if it is held by a Securitization, the Master Servicer agrees to deliver
or cause to be delivered to the Non-

 

    21

     

    

 

Lead
Master Servicer all reports required to be delivered by the Master Servicer to the Trustee or Certificate Administrator under
the Lead Securitization Servicing Agreement (which shall include all loan-level reports constituting the CREFC® Investor Reporting
Package (IRP)) pursuant to the terms of the Lead Securitization Servicing Agreement to the extent related to the Mortgage Loan,
the Mortgaged Property, the Non-Lead Securitization Note, the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee on or prior to the earlier of (A) the Master Servicer Remittance Date or (B) the business day following the “determination
date” (or analogous term) under the Non-Lead Securitization Servicing Agreement related to the Securitization of the Non-Lead
Securitization Note;

 

(iv)         in connection with (x) any amendment of the Lead Securitization Servicing Agreement, a party to such Lead Securitization
Servicing Agreement shall provide a copy of the executed amendment to the Non-Lead Depositor and the certificate administrator
under the Non-Lead Securitization Servicing Agreement (which may be by email) in order for the Non-Lead Securitization Note Holder
and the Non-Lead Depositor to timely comply with their obligations under the Exchange Act, and (y) the termination, resignation
and/or replacement of the Master Servicer or the Special Servicer, the related replacement Master Servicer or Special Servicer,
as applicable, shall provide all disclosure about itself that is required to be included in Form 8-K no later than the date of
effectiveness thereof; 

 

(v)          the Non-Lead Securitization Note Holder shall be a third-party beneficiary to the Lead Securitization Servicing Agreement
in respect of the rights afforded it thereunder to the extent such rights affect the Non-Lead Securitization Note or the Non-Lead
Securitization Note Holder;

 

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

 

(vii)        Servicer Termination Events (or such analogous term defined in the Lead Securitization Servicing Agreement) include customary
market termination events with respect to failure to make advances, failure to remit payments to the Non-Lead Securitization Note
Holder as required, failure to deliver (or cause to be delivered) materials or notices required in order for the Non-Lead Securitization
Note Holder and the Non-Lead Depositor to timely comply with their obligations under the Exchange Act, and Rating Agency triggers
with respect to the securities issued pursuant to the Non-Lead Securitization, subject to customary grace periods (provided, in
the case of failures related to the Exchange Act, such grace periods do not materially and adversely affect the Non-Lead Depositor);

 

(viii)       if the Mortgage Loan becomes the subject of an “asset review” (or such analogous term defined in the Non-Lead
Securitization Servicing Agreement) pursuant to the Non-Lead Securitization Servicing Agreement, the applicable parties to the
Lead Securitization Servicing Agreement shall reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection
with such asset review (or a

 

    22

     

    

 

substantially
similar provision), including with respect to providing access to related underlying documents, to the extent the Non-Lead Asset
Representations Reviewer has not obtained such documents from the Initial Note A-2 Holder and such documents are in the possession
of the applicable party to the Lead Securitization Servicing Agreement;

 

(ix)          each party to the Lead Securitization Servicing Agreement shall deliver (and shall cause any sub-servicer engaged by such
party to deliver (or, in the case of a sub-servicer that the related mortgage loan seller requires the Master Servicer to engage
or any servicing function participant, a party to the Lead Securitization Servicing Agreement shall use commercially reasonable
efforts to cause each party engaged by a party to the Lead Securitization Servicing Agreement to deliver)) (x) all materials and
notices required in order for the Non-Lead Securitization Note Holder and the Non-Lead Depositor to comply with (1) their obligations
under the Exchange Act (including any required 10-D, 8-K and 10-K reporting) and (2) any applicable comment letter from the Securities
and Exchange Commission or their obligations in connection with a “deficient Exchange Act deliverable” (or such analogous
term defined in the Non-Lead Securitization Servicing Agreement) and (y) with respect to the “Sarbanes-Oxley certification”
(or such analogous term defined in the Non-Lead Securitization Servicing Agreement) concerning the Non-Lead Securitization Trust
to be submitted to the Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002, the applicable certification
to each Person who signs such “Sarbanes-Oxley certification” concerning the Non-Lead Securitization Trust; and

 

(x)           the Non-Lead Securitization Trust (or the applicable parties to the Non-Lead Securitization Agreement) shall be entitled
to indemnification pursuant to industry standard indemnification provisions customary for securitizations similar to the Non-Lead
Securitization for the failure of the applicable parties to the Lead Securitization Agreement to timely deliver (or cause to be
timely delivered) the materials or information required pursuant to clause (ix) above.

 

(e)          The Note A-2 Holder shall give each of the parties to the Lead Securitization Servicing Agreement (that will not also be
a party to the Non-Lead Securitization Servicing Agreement) notice of the A-2 Securitization in writing (which may be by e-mail)
not less than five (5) Business Days’ prior to the Note A-2 Securitization Date. Such notice shall contain contact information
for each of the parties to the Non-Lead Securitization Servicing Agreement. In addition, after the Note A-2 Securitization Date,
the Note A-2 Holder shall send a copy of the Non-Lead Securitization Servicing Agreement to each of the parties to the Lead Securitization
Servicing Agreement.

 

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

 

Section
3.      Priority of Payments. Each Note shall be of equal priority, and no portion of either Note shall have priority or preference over any portion
of the other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available

 

    23

     

    

 

for
payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty,
letter of credit or other collateral or instrument securing the Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other
than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage
Loan Borrower in accordance with the terms of the Mortgage Loan Documents), but excluding (x) all amounts for required reserves
or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents)
to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection expenses
or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing
Agreement and (y) all amounts that are then due, payable or reimbursable (except for (i) any reimbursements of P&I Advances
(and interest thereon) made with respect to Note A-1 or Note A-2 which may only be reimbursed out of payments and collections
allocable to Note A-1 or Note A-2, as applicable, (ii) any Servicing Fees due to the Master Servicer in excess of the Non-Lead
Securitization Note’s pro rata share of that portion of such Servicing Fees calculated at the Servicing Fee Rate
applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement) to any Servicer (or the Trustee as
successor to the Servicer), with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement (including
without limitation, any additional trust fund expenses relating to the Mortgage Loan and any Special Servicing Fees, Liquidation
Fees, Workout Fees, Penalty Charges (to the extent provided in the immediately following paragraph), amounts paid by the Borrower
in respect of modification fees or assumption fees and any other additional compensation payable pursuant to the Lead Securitization
Servicing Agreement), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata and
Pari Passu Basis.

 

For
clarification purposes, Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on each Note shall first,
be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay the Master Servicer,
the Trustee or the Special Servicer for any interest accrued on any Servicing Advances in accordance with the terms of the Lead
Securitization Servicing Agreement, second, be used to reduce the respective amounts payable on each Note by the
amount necessary to pay the Master Servicer, Trustee, Non-Lead Master Servicer or Non-Lead Trustee for any interest accrued on
any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing Agreement
or the Non-Lead Securitization Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis,
the amounts payable on each Note by the amount necessary to pay additional trust fund expenses (other than Special Servicing Fees,
unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization
Servicing Agreement) and finally, (i) in the case of the remaining amount of Penalty Charges allocable to the Lead Securitization
Note, be paid to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead
Securitization Servicing Agreement and (ii)  in the case of the remaining amount of Penalty Charges allocable to the Non-Lead
Securitization Note, be paid, (x) prior to the securitization of such Note, to the Non-Lead Securitization Note Holder and (y)
following the securitization of such Note, to the Master Servicer and/or the Special Servicer as additional servicing compensation
as provided in the Lead Securitization Servicing Agreement.

 

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

 

Section
5.       Administration of the Mortgage Loan.

 

(a)           Subject to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement
and subject to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect
to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan
Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents,
call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy, and the
Non-Lead Securitization Note Holder shall have no voting, consent or other rights whatsoever except as explicitly set forth herein
with respect to the Lead Securitization Note Holder’s administration of, or exercise of its rights and remedies with respect
to, the Mortgage Loan. Subject to this Agreement and the Lead Securitization Servicing Agreement, the Non-Lead Securitization
Note Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
the rights, if any, that such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event
of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan
Borrower, including, without limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition
against the Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee
acting on behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to the Non-Lead Securitization Note
Holder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization
Note Holder from the obligation to make any disbursement of funds as set forth herein or its obligation to follow the Servicing
Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do so).

 

Upon
the Mortgage Loan becoming a Defaulted Mortgage Loan, Note A-2 Holder hereby acknowledges the right and obligation of the Note
A-1 Holder (or the Special Servicer acting on behalf of the Note A-1 Holder) to sell Note A-2 together with Note A-1 as notes
evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. Notwithstanding the foregoing,
the Lead Securitization Note Holder (or the Special

 

    25

     

    

 

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

 

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

 

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

 

    26

     

    

 

of
transfer or other document or instrument that may be executed or delivered by the Initial Note A-1 Holder in connection with the
Lead Securitization.

 

(b)           The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement.
The servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced
Mortgage Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in
each case pursuant to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein,
in accordance with the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer
and the Special Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account
the interests of both Note Holders as a collective whole. The Note Holders agree to be bound by the terms of the Lead Securitization
Servicing Agreement. All rights and obligations of the Lead Securitization Note Holder described hereunder may be exercised by
the Master Servicer, the Special Servicer, the Certificate Administrator and/or the Trustee on behalf of the Lead Securitization
Note Holder. The Lead Securitization Servicing Agreement shall not be amended in any manner that may adversely affect any Non-Lead
Securitization Note Holder in its capacity as Non-Lead Securitization Note Holder. Each Non-Lead Securitization Note Holder (unless
it is the same Person as or an Affiliate of the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization
Servicing Agreement with respect to their rights as specifically provided for therein.

 

(c)           The Controlling Note Holder (or its Controlling Note Holder Representative) shall have, with respect to the Mortgage Loan,
all of the same rights and powers of the Controlling Class Representative under the Lead Securitization Servicing Agreement with
respect to the other mortgage loans included in the Lead Securitization, without limitation, the right to consent and/or consult
regarding Major Decisions and other servicing matters, the right to advise (1) the Special Servicer with respect to all Specially
Serviced Loans and (2) the Special Servicer with respect to non Specially Serviced Loans as to all matters for which the Master
Servicer must obtain the consent or deemed consent of the Special Servicer, and the right to direct the Special Servicer to take,
or to refrain from taking, such other actions with respect to the Mortgage Loan as the Controlling Class Representative may deem
advisable or as to which provision is otherwise made therein, in each case subject to the terms and conditions of the Lead Securitization
Servicing Agreement.

 

(d)           Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide to
the Lead Securitization Subordinate Class Representative pursuant to the Lead Securitization Servicing Agreement with respect
to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan, to the Non-Controlling Note Holder (or the master servicer of Non-Controlling Note Securitization on its behalf), within
the same time frame it is required to provide to the Lead Securitization Subordinate Class Representative (for this purpose, without
regard to whether such items are actually required to be provided to the Lead Securitization Subordinate Class Representative
under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a

 

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Consultation
Termination Event) and (ii) to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
on a strictly non-binding basis, to the extent having received such notices, information and reports, the Non-Controlling Note
Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decisions or the
implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative
actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative); provided that
after the expiration of a period of ten (10) Business Days from the delivery to the Non-Controlling Note Holder (or the master
servicer of Non-Controlling Note Securitization on its behalf) by the Lead Securitization Note Holder of written notice of a proposed
action, together with copies of the notice, information and report required to be provided to the Lead Securitization Subordinate
Class Representative, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf)
shall no longer be obligated to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative),
whether or not the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) has responded within such ten
(10) Business Day period (unless, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on
its behalf) proposes a new course of action that is materially different from the action previously proposed, in which case such
ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating
thereto). Notwithstanding the consultation rights of the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Servicer or Special Servicer, acting
on its behalf) may make any Major Decision or take any action set forth in the Asset Status Report before the expiration of the
aforementioned ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as
applicable) determines that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In
no event shall the Lead Securitization Note Holder (or Servicer or Special Servicer, acting on its behalf) be obligated at any
time to follow or take any alternative actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative).

 

In
addition to the consultation rights of the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) provided
in the immediately preceding paragraph, the Non-Controlling Note Holder shall have the right to attend annual meetings (either
telephonically or in person, in the discretion of the Servicer) with the Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf) at the offices of the Master Servicer or the Special Servicer, as applicable, 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; provided that the Non-Controlling Note Holder, at the request of the
Master Servicer or the Special Servicer, as applicable, shall execute a confidentiality agreement in form and substance satisfactory
to it, the Master Servicer or the Special Servicer, as applicable, and the Lead Securitization Note Holder.

 

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

 

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

 

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

 

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

 

(a)           The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of its rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”).
The Controlling Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace
the Controlling Note Holder Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When exercising
its various rights under Section 5 and elsewhere in this Agreement, the Controlling Note Holder may, at its option, in each
case, act through the Controlling Note Holder Representative. The Controlling Note Holder Representative may be any Person (other
than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage Loan Borrower), including, without limitation,
the Controlling Note Holder, any officer or employee of the Controlling Note Holder, any affiliate of the Controlling Note Holder
or any other unrelated third party. No such Controlling Note Holder Representative shall owe any fiduciary duty or other duty
to any other Person (other than the Controlling Note Holder). All actions that are permitted to be taken by the Controlling Note
Holder under this Agreement may be taken by the Controlling Note Holder Representative acting on behalf of the Controlling Note
Holder. No Servicer, Operating Advisor, Trustee or Certificate Administrator acting on behalf of the Lead Securitization Note
Holder shall be required to recognize any

 

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Person
as a Controlling Note Holder Representative until the Controlling Note Holder has notified each Servicer, Operating Advisor, Trustee
and Certificate Administrator of such appointment and, if the Controlling Note Holder Representative is not the same Person as
the Controlling Note Holder, the Controlling Note Holder Representative provides each Servicer, Operating Advisor, Asset Representations
Reviewer, Trustee and Certificate Administrator with written confirmation of its acceptance of such appointment, an address and
facsimile number for the delivery of notices and other correspondence and a list of officers or employees of such person with
whom the parties to this Agreement may deal (including their names, titles, work addresses and facsimile numbers). The Controlling
Note Holder shall promptly deliver such information to each Servicer, Operating Advisor, Asset Representations Reviewer, Trustee
and Certificate Administrator. So long as no Consultation Termination Event is in effect pursuant to the terms of the Lead Securitization
Servicing Agreement, the Controlling Note Holder Representative shall be the Lead Securitization Subordinate Class Representative.

 

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

 

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

 

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

 

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

 

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

 

No
objection contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special Servicer, as applicable,
to violate any provision of the Mortgage Loan Documents, applicable law, the Lead Securitization 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 materially expand the scope of responsibilities of any of the Master Servicer or Special Servicer, as applicable.

 

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

 

Section
7.      Appointment of Special Servicer. Subject to the terms of the Lead Securitization Servicing Agreement, the Controlling
Note Holder (or its Controlling Note Holder Representative) shall have the right at any time and from time to time, with or without
cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer
in lieu thereof. Any designation by Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to serve
as Special Servicer shall be made by delivering to the other Note Holder, the Master Servicer, the then existing Special Servicer
and other parties to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying the
other conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation,
a Rating Agency Confirmation, if required by the terms of the Lead Securitization Servicing Agreement), if any. The Controlling
Note Holder shall be solely responsible for any expenses incurred in connection with any such replacement without cause. The Controlling
Note Holder shall notify the other parties hereto of its termination of the then currently serving Special Servicer and its appointment
of a replacement Special Servicer in accordance with this Section 7. If the Controlling Note Holder has not appointed a Special
Servicer with respect to the Mortgage Loan as of the consummation of the securitization under the Lead Securitization Servicing
Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing Agreement shall serve as the initial
Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling Note Holder Representative)
to designate a replacement Special Servicer for the Mortgage Loan as aforesaid. If a Servicer Termination Event on the part of
the Special Servicer has occurred that affects the Non-Controlling Note Holder, the Non-Controlling Note Holder shall have the
right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling
Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement (or at any time that the Mortgage
Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing agreement
pursuant to which the Mortgage Loan is being serviced) solely with respect to the Mortgage Loan pursuant to and in accordance
with the terms of the Lead Securitization Servicing Agreement (or at any time that the Mortgage Loan is no longer subject to the
provisions of the Lead Securitization Servicing Agreement, the successor

 

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servicing
agreement pursuant to which the Mortgage Loan is being serviced). The Controlling Note Holder and the Non-Controlling Note Holder
acknowledge and agree that any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage
Loan that was terminated for cause at the Non-Controlling Note Holder’s direction cannot at any time be the person (or an
Affiliate thereof) that was so terminated without the prior written consent of the Non-Controlling Note Holder. The Non-Controlling
Note Holder shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable,
costs and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of the Trustee, that
would otherwise be reimbursed to the Trustee from amounts on deposit in the Certificate Account or Companion Distribution Account.

 

Section
8.       Payment Procedure.

 

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

 

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

 

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

 

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

 

Section
9.       Limitation on Liability of the Note Holders. Each Note Holder shall have no liability to the other Note Holder with
respect to its Note except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach
of this Agreement on the part of such Note Holder.

 

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

 

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

 

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

 

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

 

Section
12.     No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken
pursuant hereto shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association,
joint venture or other entity. Neither Note Holder shall have any obligation whatsoever to offer to the other Note Holder the
opportunity to purchase a participation interest in any future loans originated by such Note Holder or its Affiliates and if either
Note Holder chooses to offer to the other Note Holder the opportunity to purchase a participation interest in any future mortgage
loans originated by such Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such Note
Holder chooses, in its sole and absolute discretion. Neither Note Holder shall have any obligation whatsoever to purchase from
the other Note Holder a participation interest in any future loans originated by such Note Holder or its Affiliates.

 

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

 

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

 

Section
14.     Sale of the Notes.

 

(a)            Each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, participate, hypothecate, contribute,
encumber or otherwise dispose (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other
similar agreement, excluding a repo financing or a Pledge in accordance with Section 14(d) hereof) of a Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holder shall be provided with
(x) a representation from a transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional
Lender (except in the case of a Transfer to a Securitization (and the related pooling and servicing or similar agreement requires
the parties thereto to comply with this Agreement) or in accordance with the immediately following sentence) and (y) a copy
of the assignment and assumption agreement referred to in Section 15. If a Note Holder intends to Transfer its respective
Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender, it must first obtain (1) prior to a Securitization,
the consent of the non-transferring Note Holder or (2) after a Securitization of such non-transferring Note Holder’s Note,
Rating Agency Confirmation. Notwithstanding the foregoing, without the non-transferring Note Holder’s prior consent (which
will not be unreasonably withheld), and, if such non-transferring Note Holder’s Note is held in a Securitization Trust,
without Rating Agency Confirmation, no Note Holder shall Transfer all or any portion of its Note (or a participation interest
in such Note) to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely
null and void and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it will pay the expenses
of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer and the Trustee) and
all expenses relating to the confirmation from the Rating Agencies in connection with any such Transfer. Notwithstanding the foregoing,
each Note Holder shall have the right, without the need to obtain the consent of the other Note Holder, the Rating Agencies or
any other Person, to Transfer 49% or less (in the aggregate) of its Note or any beneficial interest in its Note. None of the provisions
of this Section 14(a) shall apply in the case of (1) a sale of Note A-1 together with Note A-2, in accordance with the terms and
conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the terms
and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage
Loan becoming a Defaulted Loan, to a single member limited liability or limited partnership, 100% of the equity interest in which
is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships, by the
Lead Securitization Trust.

 

For
the purposes of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage
any request for a confirmation hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade
or withdrawal of its then current rating of the securities issued pursuant to the related Securitization, such waiver, declination,
or refusal shall be deemed to eliminate, for such request only, the condition that such confirmation by such Rating Agency (only)
be obtained for purposes of this

 

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Agreement.
For purposes of clarity, any such waiver, declination or refusal to review or otherwise engage in any request for such confirmation
hereunder shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for such
Rating Agency confirmation hereunder and the condition for such Rating Agency confirmation pursuant to this Agreement for any
subsequent request shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such
prior request.

 

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

 

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

 

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obligated
to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead Securitization Servicing Agreement.
Any pledging Note Holder hereby unconditionally and absolutely releases the other Note Holder and any Servicer from any liability
to the pledging Note Holder on account of such other Note Holder’s or Servicer’s compliance with any Redirection Notice
believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to
exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment in lieu
of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders and
any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof
which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in
lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and
obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations
of the pledging Note Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such
Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c)
shall remain effective as to any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such
Note Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

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Section
15.     Registration of the Notes
and Each Note Holder. The Agent shall keep or cause to
be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes. The
Agent shall serve as the initial note registrar and the Agent hereby accepts such appointment. The names and addresses of the
holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice, in the
form of a copy of the assignment and assumption agreement referred to in this Section 15, shall be registered in the Note
Register. The Person in whose name a Note Holder is so registered shall be deemed and treated as the sole owner and holder thereof
for all purposes of this Agreement, except in the case of the Initial Note A-1 Holder and the Initial Note A-2 Holder who may
hold their Notes through a nominee. Upon request of a Note Holder (including a Servicer on its behalf), the Agent shall provide
such party with the names and addresses of the other Note Holder. To the extent the Trustee or another party is appointed as Agent
hereunder, each Note Holder hereby designates such person as its agent under this Section 15 solely for purposes of maintaining
the Note Register.

 

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

 

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

 

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

 

(a)            SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION

 

    39

     

    

 

AND
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK,
THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

 

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

 

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

 

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

 

Section
18.     Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing
signed by the Note A-1 Holder and the Note A-2 Holder. Additionally, for as long as any Note is contained in a Securitization
Trust, the Note Holders shall not amend or modify this Agreement without first receiving a written confirmation from each Rating
Agency that such amendment or modification will not result in a qualification, withdrawal or downgrade of its then current ratings
of the securities issued in connection with the related Securitization; provided that no such Rating Agency confirmation shall
be required in connection with a modification or amendment (i) to cure any ambiguity, (ii) to correct or supplement any provisions
herein that may be defective or inconsistent with any other provisions of this Agreement, the Lead Securitization Servicing Agreement
or the final disclosure documents relating to the Lead Securitization, or (iii) entered into pursuant to Section 31 of this Agreement.

 

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

 

    40

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    41

     

    

 

make
any inquiries with respect to the accuracy, veracity, correctness or validity of the same and (ii) the Non-Lead Securitization
Note Holder, upon request of the Lead Securitization Note Holder and at its sole cost and expense, shall defend any claim or action
relating to the foregoing indemnification using counsel selected by the Lead Securitization Note Holder.

 

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

 

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

 

Section
26.     Cooperation in Securitization.

 

(a)           Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization.
In connection with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization
Note Holder, the Non-Lead Securitization Note Holder shall use reasonable efforts, at Lead Securitization Note Holder’s
expense, to satisfy, and to cooperate with the Lead Securitization

 

    42

     

    

 

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

 

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

 

Section
27.     Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or
shall be in writing and personally delivered,

 

    43

     

    

 

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

 

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

 

Section
29.     Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section
30.     Termination and Resignation of Agent.

 

(a)           The Agent may be terminated at any time upon ten (10) days prior written notice from the Lead Securitization Note Holder.
In the event that the Agent is terminated pursuant to this Section 30, all of its rights and obligations under this Agreement
shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

 

    44

     

    

 

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

 

Section
31.     Resizing. Notwithstanding any other provision of this Agreement, for so long as Starwood or an affiliate thereof
(a “Starwood Entity”) is the owner of a Note or portion thereof that has not been sold pursuant to a Securitization
(such Note or portion thereof, the “Owned Note”), such Starwood Entity shall have the right, subject to the
terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional
notes (in either case, “New Notes”) reallocating the principal of the Owned Note to such New Notes; or severing
the Owned Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding
principal balance of the Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes following such
amendments is no greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes continue to have
the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and
on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement,
(iv) the Starwood Entity holding the New Notes shall notify the Lead Securitization Note Holder, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts, and (v)
the execution of such amendments and New Notes does not violate the Servicing Standard. If the Lead Securitization Note Holder
so requests, the Starwood Entity holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation
of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the foregoing reallocation and
for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified
or amended without the consent of its holder and the consent of the holder of the other Note. In connection with the foregoing
(provided the conditions set forth in (i) through (v) above are satisfied, with respect to (i) through (iv), as certified by the
Starwood Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized and directed to
execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable,
solely for the purpose of reflecting such reallocation of principal. If more than one New Note is created hereunder, for purposes
of exercising the rights of the Non-Controlling Note Holder hereunder, the “Non-Controlling Note Holder” of such New
Notes shall be as provided in the definition of such term in this Agreement.

 

    45

     

    

 

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

 

[SIGNATURE
PAGE FOLLOWS]

 

    46

     

    

 

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

	 	 	 
	 	STARWOOD MORTGAGE FUNDING VI LLC, a Delaware limited liability company, as Initial Note A-1 Holder
	 	 
	 	By:	/s/ Leslie K. Fairbanks
	 	 	Name:  Leslie K. Fairbanks
	 	 	Title:    Executive Vice President
	 	 	 
	 	STARWOOD MORTGAGE FUNDING V LLC, a Delaware limited liability company, as Initial Note A-2 Holder
	 	 
	 	By:	/s/ Leslie K. Fairbanks
	 	 	Name:  Leslie K. Fairbanks
	 	 	Title:    Executive Vice President

 

Embassy Suites – Lake Buena Vista 

Signature Page to Co-Lender Agreement 

 

    

     

    

 

EXHIBIT
A

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage
    Loan Borrower:	ESLBV
    PROPERTY OWNER, LLC, a Delaware limited liability company
	Date
    of Mortgage Loan:	April
    26, 2016
	Date
    of Notes:	April
    26, 2016
	Original
    Principal Amount of Mortgage Loan:	$42,000,000.00
	Principal
    Amount of Mortgage Loan as of the date hereof:	$42,000,000.00
	Initial
    Note A-1 Principal Balance:	$31,000,000.00
	Initial
    Note A-2 Principal Balance:	$11,000,000.00
	Location
    of Mortgaged Property:	Orlando,
    Florida
	Initial
    Maturity Date:	May
    6, 2026

 

    A-1

     

    

 

EXHIBIT
B

 

		1.	Initial Note A-1 Holder:

 

STARWOOD MORTGAGE FUNDING VI
LLC

Notice Address:

c/o Starwood Mortgage Capital LLC

1601 Washington Avenue, Suite 800

Miami Beach, Florida 33139

Attention: Ms. Leslie K. Fairbanks

Facsimile No. (305) 695-5539

 

with a copy to:

Wells Fargo Commercial Mortgage Services

Duke Energy Center

550 South Tryon St., 12th Floor

MAC D1086-120

Charlotte, North Carolina 28202

Attention: Asset Manager – Starwood Mortgage Capital

Facsimile No.: (704) 715-0036

 

    B-1

     

    

 

		2.	Initial Note A-2 Holder:

 

(Prior to Securitization of Note
A-2):

 

STARWOOD MORTGAGE FUNDING V LLC

Notice Address:

c/o Starwood Mortgage Capital LLC

1601 Washington Avenue, Suite 800

Miami Beach, Florida 33139

Attention: Ms. Leslie K. Fairbanks

Facsimile No. (305) 695-5539

 

with a copy to:

Wells Fargo Commercial Mortgage Services

Duke Energy Center

550 South Tryon St., 12th Floor

MAC D1086-120

Charlotte, North Carolina 28202

Attention: Asset Manager – Starwood Mortgage Capital

Facsimile No.: (704) 715-0036

 

    B-2

     

    

 

(Following Securitization of
Note A-2):

 

		(i)	Depositor:

 

Citigroup Commercial Mortgage
Securities Inc. 

390 Greenwich Street, 5th Floor 

New York, New York 10013 

Attention: Paul Vanderslice 

Fax number (212) 723-8599 

 

and 

 

Citigroup Commercial Mortgage
Securities Inc. 

390 Greenwich Street, 7th
Floor 

New York, New York 10013 

Attention: Richard Simpson 

Fax number (646) 328-2943 

 

and 

 

Citigroup Commercial Mortgage
Securities Inc. 

388 Greenwich Street, 17th Floor 

New York, New York 10013 

Attention: Ryan M. O’Connor 

Fax number (646) 862-8988

 

with copies to: Richard Simpson
at richard.simpson@citi.com and to Ryan M. O’Connor at ryan.m.oconnor@citi.com

 

		(ii)	Master Servicer:

 

Wells Fargo Bank, National Association 

Commercial Mortgage Servicing 

MAC D1086, 550 South Tryon Street,
14th Floor 

Charlotte, North Carolina 28202 

Attention: CGCMT 2016-C1 Asset
Manager 

Fax number: (704) 715-0036 

 

with a copy to: 

Wells Fargo Bank, National Association 

Legal Department 

301 South College Street, TW-30,
D1053-300 

Charlotte, North Carolina 28202-6000 

Attention: Commercial Mortgage
Servicing Legal Support 

Fax number: (704) 383-3663

 

    B-3

     

    

 

with a copy to:

K&L Gates LLP 

Hearst Tower 

214 North Tryon Street 

Charlotte, North Carolina 28202 

Attention: Stacy G. Ackermann 

Fax number: (704) 353-3190 

 

		(iii)	Special Servicer:

 

LNR Partners, LLC 

1601 Washington Avenue, Suite
700 

Miami Beach, Florida 33139 

Attention: Thomas F. Nealon III,
Esq., Steven A. Rivers, Esq. and Job Warshaw 

Fax number: (305) 695-5601 

Email: tnealon@lnrproperty.com,
srivers@lnrproperty.com and jwarshaw@lnrproperty.com

 

		(iv)	Trustee:

 

Deutsche Bank Trust Company Americas 

1761 East St. Andrew Place 

Santa Ana, California, 92705-4934 

Attention: Trust Administration
– CI16C1 

Fax number (714) 247-6022 

 

		(v)	Certificate Administrator:

 

Citibank, N.A. 

388 Greenwich Street, 14th
Floor 

New York, New York 10013 

Attention: Citibank Agency &
Trust - CGCMT 2016-C1 

Fax number: (212) 816-5527 

 

		(vi)	Operating Advisor:

 

Park Bridge Lender Services LLC 

600 Third Avenue, 40th floor 

New York, New York 10016 

Attention: CGCMT 2016-C1 -- Surveillance
Manager 

 

with a copy to: cmbs.notices@parkbridgefinancial.com

 

		(vii)	Asset Representations Reviewer:

 

Park Bridge Lender Services LLC 

 

    B-4

     

    

 

600 Third Avenue, 40th floor 

New York, New York 10016 

Attention: CGCMT 2016-C1 -- Surveillance
Manager 

 

with a copy to: cmbs.notices@parkbridgefinancial.com

 

    B-5

     

    

 

EXHIBIT
C

PERMITTED FUND MANAGERS

 

		1.	Apollo Global Real Estate

		2.	Archon Capital, L.P.

		3.	AREA Property Partners

		4.	BlackRock, Inc.

		5.	The Blackstone Group International
Ltd.

		6.	Capital Trust, Inc.

		7.	Clarion Partners

		8.	Colony Capital, Inc.

		9.	DLJ Real Estate Capital
Partners

		10.	Fortress Investment Group
LLC

		11.	Garrison Investment Group

		12.	Goldman, Sachs & Co.

		13.	iStar Financial Inc.

		14.	J.E. Roberts Companies

		15.	Lend-Lease Real Estate Investments

		16.	LoanCore Capital

		17.	Lonestar Funds

		18.	Praedium Group

		19.	Raith Capital Partners,
LLC

		20.	Rialto Capital Management,
LLC

		21.	Rockpoint Group

		22.	Starwood Capital/Starwood
Financial Trust

		23.	Torchlight Investors

		24.	Walton Street Capital, LLC

		25.	Westbrook Partners

		26.	WestRiver Capital

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

 

    C-1Exhibit 10.1

 

 

EXECUTION VERSION

	 

 

CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.,

PURCHASER

 

and

 

Citigroup
Global Markets Realty Corp.,

SELLER

 

MORTGAGE LOAN PURCHASE AGREEMENT

Dated as of May 1, 2016

 

Citigroup Commercial Mortgage Trust 2016-C1,

Commercial Mortgage Pass-Through Certificates, Series 2016-C1

	 

 

     

     

    

 

This Mortgage Loan Purchase Agreement
(“Agreement”), dated as of May 1, 2016, is between Citigroup Commercial Mortgage Securities Inc., a Delaware
corporation, as purchaser (the “Purchaser”), and Citigroup Global Markets Realty Corp., a New York corporation,
as seller (the “Seller”).

 

Capitalized terms used in this
Agreement and not defined herein shall have the meanings ascribed to them in the Pooling and Servicing Agreement, dated as of May
1, 2016 (the “Pooling and Servicing Agreement”), between the Purchaser, as depositor, Wells Fargo Bank, National
Association, a national banking association, as master servicer (the “Master Servicer”), LNR Partners, LLC,
a Florida limited liability company, as special servicer (the “Special Servicer”), Park Bridge Lender Services
LLC, a New York limited liability company, as operating advisor (in such capacity, the “Operating Advisor”)
and as asset representations reviewer (in such capacity, the “Asset Representations Reviewer”), Citibank, N.A.,
a national banking association, as certificate administrator (the “Certificate Administrator”), and Deutsche
Bank Trust Company Americas, a New York banking corporation, as trustee (the “Trustee”), pursuant to which the
Purchaser will transfer the Mortgage Loans (as defined herein), together with certain other commercial and multifamily mortgage
loans (collectively, the “Other Loans”), to a trust fund and certificates representing ownership interests in
the Mortgage Loans and the Other Loans will be issued by the trust fund (the “Trust Fund”). In exchange for
the Mortgage Loans and the Other Loans, the Trust Fund will issue to or at the direction of the Depositor certificates to be known
as Citigroup Commercial Mortgage Trust 2016-C1, Commercial Mortgage Pass-Through Certificates, Series 2016-C1 (collectively, the
“Certificates”). For purposes of this Agreement, “Mortgage Loans” refers to the mortgage
loans listed on Exhibit A and “Mortgaged Properties” refers to the properties securing such Mortgage
Loans; provided, however, that with respect to the Mortgage Loan secured by the Mortgaged Property identified on
Exhibit A to this Agreement as “Marriott Savannah Riverfront”, such Mortgage Loan represents the note A-2-1
portion of a whole mortgage loan with an outstanding balance of $40,000,000 as of the Cut-Off Date that will be contributed to
the Trust on the Closing Date jointly by the Seller (with respect to note A-2-1 in the amount of $20,000,000) and Cantor Commercial
Real Estate Lending, L.P. (with respect to note A-1-1 in the amount of $20,000,000).

 

The Purchaser and the Seller
wish to prescribe the manner of sale of the Mortgage Loans from the Seller to the Purchaser and in consideration of the premises
and the mutual agreements hereinafter set forth, agree as follows:

 

SECTION 1     Sale and Conveyance of Mortgages; Possession of Mortgage File. The Seller does hereby sell, transfer, assign, set
over and convey to the Purchaser, without recourse, representation or warranty (except as otherwise specifically set forth herein),
subject to the rights of the holders of interests in any related Companion Loan, all of its right, title and interest in and to
the Mortgage Loans secured by the Mortgaged Properties identified on Exhibit A to this Agreement (the “Mortgage
Loan Schedule”) including all interest and principal received or receivable on or with respect to the Mortgage Loans
after the Cut-Off Date (and, in any event, excluding payments of principal and interest and other amounts due and payable on the
Mortgage Loans on or before the Cut-Off Date and excluding any Retained Defeasance Rights and Obligations with respect to the Mortgage
Loans). In addition, on the Closing Date, the Seller shall cause to be delivered to the Master Servicer the Initial Interest Deposit
Amount

 

     

     

    

 

with
respect to the Mortgage Loan secured by the Mortgaged Property identified on Exhibit A to this Agreement as “46 Geary
Street”, to be deposited by the Master Servicer into the Collection Account on behalf of the Seller and for the benefit
of the Trust Fund, which Initial Interest Deposit Amount shall represent an amount equal to one-month’s interest accrued
with respect to that Mortgage Loan at the related Net Mortgage Rate for the month of May 2016.

 

Upon the sale of the Mortgage
Loans, the ownership of each related Note, the Seller’s interest in the related Mortgage represented by the Note and the
other contents of the related Mortgage File (subject to the rights of the holders of interests in any related Companion Loan) will
be vested in the Purchaser and immediately thereafter the Trustee, and the ownership of records and documents with respect to each
Mortgage Loan (other than those to be held by the holder of any related Companion Loan) prepared by or which come into the possession
of the Seller shall (subject to the rights of the holders of interests in any related Companion Loan) immediately vest in the Purchaser
and immediately thereafter the Trustee. In connection with the transfer pursuant to this Section 1 of any Mortgage Loan that
is part of a Loan Combination, the Seller does hereby assign to the Purchaser all of its rights, title and interest (solely in
its capacity as the holder of the subject Mortgage Loan) in, to and under the related Co-Lender Agreement (it being understood
and agreed that the Seller does not assign any right, title or interest that it or any other party may have thereunder in its capacity
as the holder of any related Companion Loan, if applicable). The Seller’s assignment of any Outside Serviced Mortgage Loan
is subject to the terms and conditions of the applicable Outside Servicing Agreement and the related Co-Lender Agreement. The Purchaser
will sell certain of the Certificates (the “Public Certificates”) to the underwriters (the “Underwriters”)
specified in the Underwriting Agreement, dated as of May 17, 2016 (the “Underwriting Agreement”), between the
Purchaser and the Underwriters, and the Purchaser will sell certain of the Certificates (the “Private Certificates”)
to the initial purchasers (the “Initial Purchasers” and, collectively with the Underwriters, the “Dealers”)
specified in the Purchase Agreement, dated as of May 17, 2016 (the “Certificate Purchase Agreement”), between
the Purchaser and Initial Purchasers.

 

The sale and conveyance of the
Mortgage Loans is being conducted on an arms-length basis and upon commercially reasonable terms. As the purchase price for the
Mortgage Loans, the Purchaser shall pay, by wire transfer of immediately available funds, to the Seller or at the Seller’s
direction that sum set forth in the funding schedule executed by the Seller and the Purchaser relating to the sale of the Mortgage
Loans contemplated hereby (but subject to certain post-settlement adjustment for expenses incurred by the Underwriters and the
Initial Purchasers on behalf of the Depositor and for which the Seller is specifically responsible).

 

The purchase and sale of the
Mortgage Loans shall take place on the Closing Date.

 

SECTION 2     Books and Records; Certain Funds Received After the Cut-Off Date. From and after the sale of the Mortgage Loans to
the Purchaser, record title to each Mortgage (other than with respect to any Outside Serviced Mortgage Loan) and each Note shall
be transferred to the Trustee subject to and in accordance with this Agreement. Any funds due after the Cut-Off Date in connection
with a Mortgage Loan received by the Seller shall be held in trust on behalf of the Trustee (for the benefit of the Certificateholders)
as the owner of such Mortgage Loan and shall be transferred promptly to the Certificate Administrator. All scheduled

 

    -2- 

     

    

 

payments
of principal and interest due on or before the Cut-Off Date but collected after the Cut-Off Date, and all recoveries and payments
of principal and interest collected on or before the Cut-Off Date (only in respect of principal and interest on the Mortgage Loans
due on or before the Cut-Off Date and principal prepayments thereon), shall belong to, and shall be promptly remitted to, the
Seller.

 

The transfer of each Mortgage
Loan shall be reflected on the Seller’s balance sheets and other financial statements as the sale of such Mortgage Loan by
the Seller to the Purchaser. The Seller intends to treat the transfer of each Mortgage Loan to the Purchaser as a sale for tax
purposes. Following the transfer of the Mortgage Loans by the Seller to the Purchaser, the Seller shall not take any actions inconsistent
with the ownership of the Mortgage Loans by the Purchaser and its assignees.

 

The transfer of each Mortgage
Loan shall be reflected on the Purchaser’s balance sheets and other financial statements as the purchase of such Mortgage
Loan by the Purchaser from the Seller. The Purchaser intends to treat the transfer of each Mortgage Loan from the Seller as a purchase
for tax purposes. The Purchaser shall be responsible for maintaining, and shall maintain, a set of records for each Mortgage Loan
which shall be clearly marked to reflect the transfer of ownership of each Mortgage Loan by the Seller to the Purchaser pursuant
to this Agreement.

 

SECTION 3     Delivery of Mortgage Loan Documents; Additional Costs and Expenses. (a)  The Purchaser hereby directs the
Seller, and the Seller hereby agrees, such agreement effective upon the transfer of the Mortgage Loans as contemplated herein,
to deliver to and deposit with (or to cause to be delivered to and deposited with) the Custodian (on behalf of the Trustee), with
copies (other than with respect to an Outside Serviced Mortgage Loan) to be delivered to the Master Servicer, on the dates set
forth in Section 2.01 of the Pooling and Servicing Agreement, all documents, instruments and agreements required to be delivered
by the Purchaser, or contemplated to be delivered by the Seller (whether at the direction of the Purchaser or otherwise), to the
Custodian and the Master Servicer, with respect to the Mortgage Loans under Section 2.01 of the Pooling and Servicing Agreement,
and meeting all the requirements of such Section 2.01 of the Pooling and Servicing Agreement; provided that the Seller
shall not be required to deliver any draft documents, privileged or other related Seller communications, credit underwriting, due
diligence analyses or data, or internal worksheets, memoranda, communications or evaluations.

 

With respect to letters of credit
(exclusive of those relating to an Outside Serviced Mortgage Loan), the Seller shall deliver to the Master Servicer, and the Pooling
and Servicing Agreement shall require the Master Servicer to hold, the original (or copy, if such original has been submitted by
the Seller to the issuing bank to effect an assignment or amendment of such letter of credit (changing the beneficiary thereof
to the Trustee (in care of the Master Servicer) for the benefit of Certificateholders and, if applicable, the related Serviced
Companion Loan Holder, to the extent required in order for the Master Servicer to draw on such letter of credit on behalf of the
Trustee for the benefit of Certificateholders and, if applicable, the related Serviced Companion Loan Holder in accordance with
the applicable terms thereof and/or of the related Loan Documents)) and the Seller shall be deemed to have satisfied any such delivery
requirements by delivering with respect to any letter(s) of credit a copy thereof to the Custodian

 

    -3- 

     

    

 

together
with an Officer’s Certificate of the Seller certifying that such document has been delivered to the Master Servicer or
an Officer’s Certificate from the Master Servicer certifying that it holds the letter(s) of credit pursuant to Section
2.01(b) of the Pooling and Servicing Agreement. If a letter of credit referred to in the previous sentence is not in a
form that would allow the Master Servicer to draw on such letter of credit on behalf of the Trustee for the benefit of
Certificateholders and, if applicable, the related Serviced Companion Loan Holder in accordance with the applicable terms
thereof and/or of the related Loan Documents, the Seller shall deliver the appropriate assignment or amendment documents (or
copies of such assignment or amendment documents if the Seller has submitted the originals to the related issuer of such
letter of credit for processing) to the Master Servicer within 90 days of the Closing Date. The Seller shall pay any
costs of assignment or amendment of such letter(s) of credit required in order for the Master Servicer to draw on such
letter(s) of credit on behalf of the Trustee for the benefit of Certificateholders and, if applicable, the related Serviced
Companion Loan Holder, and shall cooperate with the reasonable requests of the Master Servicer or the Special Servicer, as
applicable, in connection with effectuating a draw under any such letter of credit prior to the date such letter of credit is
assigned or amended in order that it may be drawn by the Master Servicer on behalf of the Trustee for the benefit of
Certificateholders and, if applicable, the related Serviced Companion Loan Holder.

 

(b)          Except with respect to any Outside Serviced Mortgage Loan, the Seller shall deliver to and deposit with (or cause to be
delivered to and deposited with) the Master Servicer within five (5) Business Days after the Closing Date: (i) a copy
of the Mortgage File; (ii) all documents and records not otherwise required to be contained in the Mortgage File that (A) relate
to the origination and/or servicing and administration of the Mortgage Loans and any related Serviced Companion Loan(s), (B) are
reasonably necessary for the ongoing administration and/or servicing of the Mortgage Loans (including any asset summaries related
to the Mortgage Loans that were delivered to the Rating Agencies in connection with the rating of the Certificates) or any related
Serviced Companion Loans or for evidencing or enforcing any of the rights of the holder of the Mortgage Loans or any related Serviced
Companion Loans or holders of interests therein, and (C) are in the possession or under the control of the Seller; and (iii) all
unapplied Escrow Payments and reserve funds in the possession or under control of the Seller that relate to the Mortgage Loans
and any related Serviced Companion Loans together with a statement indicating which Escrow Payments and reserve funds are allocable
to each Mortgage Loan or any related Serviced Companion Loan; provided that copies of any document in the Mortgage File
and any other document, record or item referred to above in this sentence that, in each case, constitutes a Designated Servicing
Document shall be delivered to the Master Servicer on or before the Closing Date; and provided, further, that the
Seller shall not be required to deliver any draft documents, privileged or other related Seller communications, credit underwriting,
due diligence analyses or data, or internal worksheets, memoranda, communications or evaluations. Notwithstanding the foregoing,
this Section 3(b) shall not apply to any Outside Serviced Mortgage Loan.

 

(c)          With respect to any Mortgage Loan secured by any Mortgaged Property that is subject to a franchise agreement with a related
comfort letter in favor of the Seller that requires notice to or request of the related franchisor to transfer or assign any such
related comfort letter to the Trustee for the benefit of the Certificateholders or have a new comfort letter (or any such new document
or acknowledgement as may be contemplated under the existing

 

    -4- 

     

    

 

comfort
letter) issued in the name of the Trustee for the benefit of the Certificateholders, the Seller or its designee shall, within
45 days of the Closing Date (or any shorter period if required by the applicable comfort letter), provide any such required notice
or make any such required request to the related franchisor for the transfer or assignment of such comfort letter or issuance
of a new comfort letter (or any such new document or acknowledgement as may be contemplated under the existing comfort letter),
with a copy of such notice or request to the Custodian (who shall include such document in the related Mortgage File), the Special
Servicer and the Master Servicer, and the Master Servicer shall use reasonable efforts in accordance with the Servicing Standard
to acquire such replacement comfort letter, if necessary (or to acquire any such new document or acknowledgement as may be contemplated
under the existing comfort letter), and the Master Servicer shall, as soon as reasonably practicable following receipt thereof,
deliver the original of such replacement comfort letter, new document or acknowledgement, as applicable, to the Custodian for
inclusion in the Mortgage File.

 

SECTION 4     Treatment as a Security Agreement. Pursuant to Section 1 hereof, the Seller has conveyed to the Purchaser
all of its right, title and interest in and to the Mortgage Loans. The parties intend that such conveyance of the Seller’s
right, title and interest in and to the Mortgage Loans pursuant to this Agreement shall constitute a purchase and sale and not
a loan. If such conveyance is deemed to be a pledge and not a sale, then the parties also intend and agree that the Seller shall
be deemed to have granted, and in such event does hereby grant, to the Purchaser, a first priority security interest in all of
its right, title and interest in, to and under the Mortgage Loans, all payments of principal or interest on such Mortgage Loans
due after the Cut-Off Date, all other payments made in respect of such Mortgage Loans after the Cut-Off Date (and, in any event,
excluding scheduled payments of principal and interest due on or before the Cut-Off Date) and all proceeds thereof, and that this
Agreement shall constitute a security agreement under applicable law. If such conveyance is deemed to be a pledge and not a sale,
the Seller consents to the Purchaser hypothecating and transferring such security interest in favor of the Trustee and transferring
the obligation secured thereby to the Trustee.

 

SECTION 5     Covenants of the Seller. The Seller covenants with the Purchaser as follows:

 

(a)          with respect to the Mortgage Loans (other than any Outside Serviced Mortgage Loan), it shall record and file, or cause a
third party on its behalf to record and file, in the appropriate public recording office for real property records or UCC financing
statements, as appropriate, each related assignment of Mortgage and assignment of Assignment of Leases, and each related UCC-3
financing statement referred to in the definition of Mortgage File, in each case in favor of the Trustee, as and to the extent
contemplated under Section 2.01(c) of the Pooling and Servicing Agreement. All out of pocket costs and expenses relating to
the recordation or filing of such assignments of Assignment of Leases, assignments of Mortgage and financing statements shall be
paid by (or caused to be paid by) the Seller. If any such document or instrument is lost or returned unrecorded or unfiled, as
the case may be, because of a defect therein, then the Seller shall promptly prepare or cause the preparation of a substitute therefor
or cure such defect or cause such defect to be cured, as the case may be, and the Seller shall record or file, or cause the recording
or filing of, such substitute or corrected document or instrument, or with respect to any assignments that a third party on the
Seller’s behalf has agreed to record or file as described in the Pooling and Servicing Agreement, the Seller shall deliver
such substitute

 

    -5- 

     

    

 

or
corrected document or instrument to such third party (or, if the Mortgage Loan is then no longer subject to the Pooling and Servicing
Agreement, the then holder of such Mortgage Loan);

 

(b)          as to each Mortgage Loan (except with respect to any Outside Serviced Mortgage Loan), if the Seller cannot deliver or cause
to be delivered the documents and/or instruments referred to in clauses (2), (3), (6) (if recorded) and (15) of the definition
of “Mortgage File” in the Pooling and Servicing Agreement solely because of a delay caused by the public recording
or filing office where such document or instrument has been delivered for recordation or filing, as applicable, it shall forward
to the Custodian a copy of the original certified by the Seller or the title agent to be a true and complete copy of the original
thereof submitted for recording. The Seller shall cause each assignment referred to in Section (5)(a) above that is recorded
and the file copy of each UCC-3 assignment referred to in Section (5)(a) above to reflect that it should be returned by
the public recording or filing office to the Custodian or its agent following recording (or, alternatively, to the Seller or its
designee, in which case the Seller shall deliver or cause the delivery of the recorded/filed original to the Custodian promptly
following receipt); provided that, in those instances where the public recording office retains the original assignment
of Mortgage or assignment of Assignment of Leases, the Seller or its designee shall obtain and provide to the Custodian a certified
copy of the recorded original. On a monthly basis, at the expense of the Seller, the Custodian shall forward to the Master Servicer
a copy of each of the aforementioned assignments following the Custodian’s receipt thereof;

 

(c)          it shall take any action reasonably required by the Purchaser, the Certificate Administrator, the Trustee or the Master
Servicer in order to assist and facilitate the transfer of the servicing of the Mortgage Loans (other than any Outside Serviced
Mortgage Loan) to the Master Servicer, including effectuating the transfer of any letters of credit with respect to any Mortgage
Loan to the Master Servicer on behalf of the Trustee for the benefit of Certificateholders and any Serviced Companion Loan Holder.
Prior to the date that a letter of credit with respect to any Mortgage Loan is so transferred to the Master Servicer, the Seller
will cooperate with the reasonable requests of the Master Servicer or the Special Servicer, as applicable, in connection with effectuating
a draw under such letter of credit as required under the terms of the related Loan Documents. Notwithstanding the foregoing, this
Section 5(c) shall not apply with respect to any Outside Serviced Mortgage Loan;

 

(d)          the Seller shall provide the Master Servicer the initial data with respect to each Mortgage Loan for (i) the CREFC®
Financial File and the CREFC® Loan Periodic Update File that are required to be prepared by the Master Servicer
pursuant to the Pooling and Servicing Agreement and (ii) the Supplemental Servicer Schedule;

 

(e)          if (during the period of time that the Underwriters are required, under applicable law, to deliver a prospectus related
to the Public Certificates in connection with sales of the Public Certificates by an Underwriter or a dealer) the Seller has obtained
actual knowledge of undisclosed or corrected information related to an event that occurred prior to the Closing Date, which event
causes there to be an untrue statement of a material fact with respect to the Seller Information (as such term is defined in the
Indemnification Agreement) in (i) the Prospectus dated May 17, 2016 relating to the Public Certificates, the annexes and exhibits
thereto and any electronic media
delivered therewith, or (ii) the Offering Circular dated May 17, 2016 relating to the Private Certificates, the annexes and exhibits
thereto and any electronic 

 

    -6- 

     

    

 

media delivered therewith (collectively, the “Offering Documents”), or causes there
to be an omission to state therein a material fact with respect to the Seller Information required to be stated therein or necessary
to make the statements therein with respect to the Seller Information, in the light of the circumstances under which they were
made, not misleading, then the Seller shall promptly notify the Dealers and the Depositor. If as a result of any such event the
Dealers’ legal counsel determines that it is necessary to amend or supplement the Offering Documents in order to correct
the untrue statement, or to make the statements therein, in the light of the circumstances when the Offering Documents are delivered
to a purchaser, not misleading, or to make the Offering Documents in compliance with applicable law, the Seller shall (to the
extent that such amendment or supplement solely relates to the Seller Information) at the expense of the Seller, do all things
reasonably necessary to assist the Depositor to prepare and furnish to the Dealers, such amendments or supplements to the Offering
Documents as may be necessary so that the Seller Information in the Offering Documents, as so amended or supplemented, will not
contain an untrue statement, will not, in the light of the circumstances when the Offering Documents are delivered to a purchaser,
be misleading and will comply with applicable law. (All capitalized terms used in this Section 5(e) and not otherwise
defined in this Agreement shall have the meanings set forth in the Indemnification Agreement, dated as of May 17, 2016, between
the Underwriters, the Initial Purchasers, the Seller and the Depositor (the “Indemnification Agreement” and,
together with this Agreement, the “Operative Documents”)). Notwithstanding the foregoing, the Seller shall
have no affirmative obligation to monitor the performance of the Mortgage Loans or any changes in condition or circumstance of
any Mortgaged Property, Mortgagor, guarantor or any of their Affiliates after the Closing Date in connection with its obligations
under this Section 5(e);

 

(f)          for so long as the Trust Fund is subject to the reporting requirements of the Exchange Act, the Seller shall provide the
Depositor and the Certificate Administrator with any Additional Form 10-D Disclosure, any Additional Form 10-K Disclosure and any
Form 8-K Disclosure Information for which the Seller is responsible as indicated on Exhibit U, Exhibit V and Exhibit Z
to the Pooling and Servicing Agreement within the time periods set forth in the Pooling and Servicing Agreement; provided
that, in connection with providing Additional Form 10-K Disclosure and the Seller’s reporting obligations under Item 1119
of Regulation AB, upon reasonable request by the Seller, the Purchaser shall provide the Seller with a list of all parties to the
Pooling and Servicing Agreement and any other Servicing Function Participant;

 

(g)         within sixty (60) days after the Closing Date, the Seller shall deliver or cause to be delivered an electronic copy of the
Diligence File for each Mortgage Loan to the Depositor by uploading such Diligence File (including, if applicable, any additional
documents that the Seller believes should be included to enable the Asset Representations Reviewer to perform an Asset Review on
such Mortgage Loan; provided that such documents are clearly labeled and identified) to the Designated Site, each such Diligence
File being organized and categorized in accordance with the electronic file structure reasonably requested by the Depositor;

 

(h)         within sixty (60) days after the Closing Date, the Seller shall provide the Depositor (with a copy (which may be sent by
email) to each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Custodian, the Controlling
Class Representative, the Asset Representations Reviewer and the Operating Advisor) with a

 

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certification
by an authorized officer of the Seller, substantially in the form of Exhibit F to this Agreement, that the electronic copy
of the Diligence File for each Mortgage Loan uploaded to the Designated Site contains all documents required under the definition
of “Diligence File” and such Diligence Files are organized and categorized in accordance with the electronic file
structure reasonably requested by the Depositor;

 

(i)           upon written request of the Asset Representations Reviewer (in the event that the Asset Representations Reviewer reasonably
determines that any Review Materials made available or delivered to the Asset Representations Reviewer are missing any documents
required to complete any Test for a Mortgage Loan that is a Delinquent Loan), the Seller shall provide to the Asset Representations
Reviewer (or the Master Servicer or the Special Servicer at the request of the Asset Representations Reviewer) within ten (10)
Business Days of receipt of such written request (which time period may be extended upon the mutual agreement of the Seller and
the Asset Representations Reviewer), such documents requested by the Asset Representations Reviewer and reasonably available to
the Seller relating to each such Delinquent Loan to enable the Asset Representations Reviewer to complete any Test for each such
Delinquent Loan, but only to the extent such documents are in the possession of the Seller; provided that the Seller shall
not be required to provide any documents that are proprietary to the related originator or the Seller or any draft documents, privileged
or internal communications, credit underwriting or due diligence analysis (in connection with providing any requested documents
to the Master Servicer or the Special Servicer, the Seller shall use reasonable efforts to clearly identify such documents as being
delivered in response to a request from the Asset Representations Reviewer and as being required to be transmitted to the Asset
Representations Reviewer; provided that the absence of any such identification shall not relieve the Master Servicer or
the Special Servicer, as the case may be, from any obligations under the Pooling and Servicing Agreement to transmit any such documents
to the Asset Representations Reviewer);

 

(j)           upon the completion of an Asset Review with respect to each Mortgage Loan that is a Delinquent Loan and receipt by the Seller
of a written invoice from the Asset Representations Reviewer, the Seller shall pay to the Asset Representations Reviewer within
forty-five (45) days after receipt of such written invoice the Asset Representations Reviewer Asset Review Fee with respect to
such Delinquent Loan as set forth in Section 11.02(b) of the Pooling and Servicing Agreement, subject to adjustment with respect
to the Mortgage Loan secured by the Mortgaged Property identified on Exhibit A to this Agreement as “Marriott Savannah
Riverfront” as set forth in Section 11.02(b) of the Pooling and Servicing Agreement;

 

(k)          if the Preliminary Asset Review Report indicates that any of the representations and warranties fails or is deemed to fail
any Test, the Seller shall have 90 days from receipt of the Preliminary Asset Review Report (the “Cure/Contest Period”)
to remedy or otherwise refute the Test failure indicated in the Preliminary Asset Review Report. If the Seller elects to refute
the Test failure indicated in the Preliminary Asset Review Report, the Seller shall provide any documents or any explanations to
support (i) a conclusion that a subject representation and warranty has not failed a Test or (ii) a claim that any missing documents
in the Review Materials are not required to complete a Test, in any such case to the Special Servicer;

 

    -8- 

     

    

 

(l)           the Seller acknowledges and agrees that in the event an Enforcing Party elects a dispute resolution method pursuant to Section
2.03 of the Pooling and Servicing Agreement, the Seller shall abide by the selected dispute resolution method and otherwise comply
with the terms and provisions set forth in the Pooling and Servicing Agreement (including the exhibits thereto) related to the
resolution method;

 

(m)         the Seller shall indemnify and hold harmless the Purchaser against any and all expenses, losses, claims, damages and other
liabilities, including without limitation the costs of investigation, legal defense and any amounts paid in settlement of any claim
or litigation arising out of or based upon (i) any failure of the Seller to pay the fees described under Section 5(j) above
within 90 days of written request by the Asset Representations Reviewer or (ii) any failure by the Seller to provide all documents
required to be delivered by it pursuant to this Agreement and under the definition of “Diligence File” in the Pooling
and Servicing Agreement within 60 days of the Closing Date (or such later date specified herein or in the Pooling and Servicing
Agreement); and

 

(n)         with respect to any Mortgage Loan that is (or may become pursuant to the related Co-Lender Agreement) part of an Outside
Serviced Loan Combination, (x) in the event that the Closing Date occurs prior to the closing date of the creation of the related
Outside Securitization Trust (such event, the “Outside Securitization”), the Seller shall provide (or cause
to be provided) to the Depositor (and counsel thereto) and the Certificate Administrator (i) written notice in a timely manner
of (but no later than three (3) Business Days prior to) the closing of such Outside Securitization, and (ii) no later than one
(1) Business Day after the closing date of such Outside Securitization, a copy of the Outside Servicing Agreement in an EDGAR-compatible
format, and (y) in the event that the Closing Date occurs after the closing of the Outside Securitization, the Seller shall provide,
or cause the Outside Depositor to provide, the Depositor (and counsel thereto) with a copy of the related Outside Servicing Agreement
(together with any amendments thereto) in an EDGAR-compatible format by the later of (i) two (2) Business Days prior to the
Closing Date and (ii) one (1) Business Day after the closing date of such Outside Securitization.

 

SECTION 6     Representations and Warranties.

 

(a)          The Seller represents and warrants to the Purchaser as of the date hereof and as of the Closing Date that:

 

(i)           The Seller is a corporation, duly organized, validly existing and in good standing under the laws of the State of New York
with full power and authority to own its assets and conduct its business, is duly qualified as a foreign organization in good standing
in all jurisdictions to the extent such qualification is necessary to hold and sell the Mortgage Loans or otherwise comply with
its obligations under this Agreement except where the failure to be so qualified would not have a material adverse effect on its
ability to perform its obligations hereunder, and the Seller has taken all necessary action to authorize the execution and delivery
of, and performance under, the Operative Documents and has duly executed and delivered each Operative Document, and has the power
and authority to execute, deliver and perform under each Operative Document and all the transactions contemplated hereby and thereby,
including, but not limited to, the

 

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power
and authority to sell, assign, transfer, set over and convey the Mortgage Loans in accordance with this Agreement;

 

(ii)          Assuming the due authorization, execution and delivery of this Agreement by the Purchaser, this Agreement will constitute
a legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with its terms, except as such
enforcement may be limited by (A) bankruptcy, insolvency, reorganization, moratorium, liquidation or other similar laws affecting
the enforcement of creditors’ rights generally, (B) general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law) and (C) public policy considerations underlying the securities laws, to the
extent that such public policy considerations limit the enforceability of the provisions of this Agreement that purport to provide
indemnification for securities laws liabilities;

 

(iii)         The execution and delivery of each Operative Document by the Seller and the performance of its obligations hereunder and
thereunder will not conflict with any provision of any law or regulation to which the Seller is subject, or conflict with, result
in a breach of, or constitute a default under, any of the terms, conditions or provisions of any of the Seller’s organizational
documents or any agreement or instrument to which the Seller is a party or by which it is bound, or any order or decree applicable
to the Seller, or result in the creation or imposition of any lien on any of the Seller’s assets or property, in each case,
which would materially and adversely affect the ability of the Seller to carry out the transactions contemplated by the Operative
Documents;

 

(iv)         There is no action, suit, proceeding or investigation pending or, to the Seller’s knowledge, threatened against the
Seller in any court or by or before any other governmental agency or instrumentality which would materially and adversely affect
the validity of the Mortgage Loans or the ability of the Seller to carry out the transactions contemplated by each Operative Document;

 

(v)          The Seller is not in default with respect to any order or decree of any court or any order, regulation or demand of any
federal, state, municipal or governmental agency, which default might have consequences that, in the Seller’s good faith
and reasonable judgment, is likely to materially and adversely affect the condition (financial or other) or operations of the Seller
or its properties or might have consequences that, in the Seller’s good faith and reasonable judgment, is likely to materially
and adversely affect its performance under any Operative Document;

 

(vi)         No consent, approval, authorization or order of any court or governmental agency or body is required for the execution,
delivery and performance by the Seller of, or compliance by the Seller with, each Operative Document or the consummation of the
transactions contemplated hereby or thereby, other than those which have been obtained by the Seller and those filings and recordings
of Loan Documents and assignments thereof that are contemplated by the Pooling and Servicing Agreement to be completed after the
Closing Date; and

 

    -10- 

     

    

 

(vii)        The transfer, assignment and conveyance of the Mortgage Loans by the Seller to the Purchaser is not subject to bulk transfer
laws or any similar statutory provisions in effect in any applicable jurisdiction.

 

(b)          The Purchaser represents and warrants to the Seller as of the Closing Date that:

 

(i)           The Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware,
with full corporate power and authority to own its assets and conduct its business, is duly qualified as a foreign corporation
in good standing in all jurisdictions in which the ownership or lease of its property or the conduct of its business requires such
qualification, except where the failure to be so qualified would not have a material adverse effect on the ability of the Purchaser
to perform its obligations hereunder, and the Purchaser has taken all necessary action to authorize the execution, delivery and
performance of this Agreement by it, and has duly executed and delivered this Agreement, and has the power and authority to execute,
deliver and perform this Agreement and all the transactions contemplated hereby;

 

(ii)          Assuming the due authorization, execution and delivery of this Agreement by the Seller, this Agreement will constitute a
legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as
such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, liquidation 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);

 

(iii)         The execution and delivery of this Agreement by the Purchaser and the performance of its obligations hereunder will not
conflict with any provision of any law or regulation to which the Purchaser is subject, or conflict with, result in a breach of,
or constitute a default under, any of the terms, conditions or provisions of any of the Purchaser’s organizational documents
or any agreement or instrument to which the Purchaser is a party or by which it is bound, or any order or decree applicable to
the Purchaser, or result in the creation or imposition of any lien on any of the Purchaser’s assets or property, in each
case which would materially and adversely affect the ability of the Purchaser to carry out the transactions contemplated by this
Agreement;

 

(iv)         There is no action, suit, proceeding or investigation pending or, to the Purchaser’s knowledge, threatened against
the Purchaser in any court or by or before any other governmental agency or instrumentality which would materially and adversely
affect the validity of this Agreement or any action taken in connection with the obligations of the Purchaser contemplated herein,
or which would be likely to impair materially the ability of the Purchaser to perform under the terms of this Agreement;

 

(v)          The Purchaser is not in default with respect to any order or decree of any court or any order, regulation or demand of any
federal, state, municipal or governmental agency, which default might have consequences that would materially and adversely

 

    -11- 

     

    

 

affect
the condition (financial or other) or operations of the Purchaser or its properties or might have consequences that would materially
and adversely affect its performance under any Operative Document;

 

(vi)        No consent, approval, authorization or order of any court or governmental agency or body is required for the execution,
delivery and performance by the Purchaser of, or compliance by the Purchaser with, this Agreement or the consummation of the transactions
contemplated by this Agreement other than those that have been obtained by the Purchaser; and

 

(vii)       The Purchaser has (i) prepared a report on Form ABS-15G under the Exchange Act (the “Form 15G”) that
attaches the Accountant’s Third-Party Due Diligence Report (as defined herein) (a final draft of which Form 15G was provided
to the Seller at least 5 business days before the first pricing date with respect to the Certificates); and (ii) furnished the
Form 15G to the Commission (as defined herein) on EDGAR at least 5 business days before the first pricing date with respect to
the Certificates as required by Rule 15Ga-2 under the Exchange Act.

 

(c)         The Seller further makes the representations and warranties as to the Mortgage Loans set forth in Exhibit B
to this Agreement as of the Cut-Off Date or such other date set forth in Exhibit B to this Agreement, which representations
and warranties are subject to the exceptions thereto set forth in Exhibit C to this Agreement.

 

(d)         Pursuant to the Pooling and Servicing Agreement, if (i) any party thereto (other than the Asset Representations Reviewer)
discovers or receives notice alleging that any document constituting a part of a Mortgage File has not been properly executed,
is missing, contains information that does not conform in any material respect with the corresponding information set forth in
the Mortgage Loan Schedule, or does not appear to be regular on its face (each, a “Document Defect”), or discovers
or receives notice alleging a breach of any representation or warranty of the Seller made pursuant to Section 6(c)
of this Agreement with respect to any Mortgage Loan (a “Breach”) or (ii) the Special Servicer or the Purchaser
receives a Repurchase Request, then such party is required to give prompt written notice thereof to the Seller.

 

(e)          Pursuant to the Pooling and Servicing Agreement, the Special Servicer is required to determine whether any such Document
Defect or Breach with respect to any Mortgage Loan materially and adversely affects, or such Document Defect is deemed in accordance
with Section 2.03 of the Pooling and Servicing Agreement to materially and adversely affect, the value of the Mortgage Loan
or any related REO Property or the interests of the Certificateholders therein or causes any Mortgage Loan to fail to be a Qualified
Mortgage (any such Document Defect shall constitute a “Material Document Defect” and any such Breach shall constitute
a “Material Breach”; and a Material Breach and/or a Material Document Defect, as the case may be, shall constitute
a “Material Defect”). If such Document Defect or Breach has been determined to be a Material Defect, then the
Special Servicer will be required to give prompt written notice thereof to the Seller, demanding that the Seller cure such Material
Defect. Promptly upon becoming aware of any such Material Defect (including, without limitation, through a written notice given
by any party to the Pooling and Servicing Agreement, as provided

 

    -12- 

     

    

 

above
if the Document Defect or Breach identified therein is a Material Defect), the Seller shall, not later than 90 days from
the earlier of the Seller’s (x) discovery of, and (y) receipt of notice of and receipt of a demand to take action with respect
to such Material Defect (or, in the case of a Material Defect relating to a Mortgage Loan not being a Qualified Mortgage, not
later than 90 days from any party discovering such Material Defect), cure the same in all material respects (which cure shall
include payment of any losses and Additional Trust Fund Expenses associated therewith (including, if applicable, the amount of
any fees of the Asset Representations Reviewer payable pursuant to Section 5(j) above attributable to the Asset Review of such
Mortgage Loan)) or, if such Material Defect cannot be cured within such 90-day period, the Seller shall (before the end of such
90-day period) either: (i) repurchase the affected Mortgage Loan or any related REO Property (or the Trust Fund’s interest
therein) at the applicable Purchase Price by wire transfer of immediately available funds to the Collection Account; or (ii) substitute
a Qualified Substitute Mortgage Loan for such affected Mortgage Loan (provided that in no event shall any such substitution occur
later than the second anniversary of the Closing Date) and pay the Master Servicer, for deposit into the Collection Account, any
Substitution Shortfall Amount in connection therewith; provided, however, that if (i) such Material Defect
is capable of being cured but not within such 90-day period, (ii) such Material Defect is not related to any Mortgage Loan’s
not being a Qualified Mortgage and (iii) the Seller has commenced and is diligently proceeding with the cure of such Material
Defect within such 90-day period, then the Seller shall have an additional 90 days to complete such cure (or, in the event
of a failure to so cure, to complete such repurchase of the related Mortgage Loan or substitute a Qualified Substitute Mortgage
Loan as described above) it being understood and agreed that, in connection with the Seller’s receiving such additional
90-day period, the Seller shall deliver an Officer’s Certificate to the Trustee, the Special Servicer and the Certificate
Administrator setting forth the reasons such Material Defect is not capable of being cured within the initial 90-day period and
what actions the Seller is pursuing in connection with the cure thereof and stating that the Seller anticipates that such Material
Defect will be cured within such additional 90-day period; and provided, further, that, if any such Material Defect
is still not cured after the initial 90-day period and any such additional 90-day period solely due to the failure of the Seller
to have received the recorded document, then the Seller shall be entitled to continue to defer its cure, repurchase and/or substitution
obligations in respect of such Material Defect so long as the Seller certifies to the Trustee, the Special Servicer and the Certificate
Administrator every 30 days thereafter that the Material Defect is still in effect solely because of its failure to have
received the recorded document and that the Seller is diligently pursuing the cure of such defect (specifying the actions being
taken), except that no such deferral of cure, repurchase or substitution may continue beyond the date that is 18 months following
the Closing Date. Any such repurchase or substitution of a Mortgage Loan shall be on a whole loan, servicing released basis. The
Seller shall have no obligation to monitor the Mortgage Loans regarding the existence of a Breach or a Document Defect, but if
the Seller discovers a Material Defect with respect to a Mortgage Loan, it will notify the Purchaser. Monthly Payments due with
respect to each Qualified Substitute Mortgage Loan (if any) after the related Due Date in the month of substitution, and Monthly
Payments due with respect to each Mortgage Loan being repurchased or replaced after the related Cut-Off Date and received by the
Master Servicer or the Special Servicer on behalf of the Trust on or prior to the related date of repurchase or substitution,
shall be part of the Trust Fund. Monthly Payments due with respect to each Qualified Substitute Mortgage Loan (if any) on or prior
to the related Due Date in the month of substitution, and Monthly Payments due with 

 

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respect to each Mortgage Loan being repurchased
or replaced and received by the Master Servicer or the Special Servicer on behalf of the Trust after the related date of repurchase
or substitution, shall not be part of the Trust Fund and shall be required, under the Pooling and Servicing Agreement, to be remitted
by the Master Servicer to the Seller promptly following receipt. From and after the date of substitution, each Qualified Substitute
Mortgage Loan, if any, that has been substituted shall be deemed to constitute a “Mortgage Loan” hereunder for all
purposes. No mortgage loan may be substituted for a Defective Mortgage Loan as contemplated by this Section 6(e) if the
Mortgage Loan to be replaced was itself a Qualified Substitute Mortgage Loan that had replaced a prior Mortgage Loan, in which
case, absent a cure (including by the making of a Loss of Value Payment pursuant to the following paragraph) of the relevant Material
Defect, the affected Mortgage Loan will be required to be repurchased.

 

Notwithstanding the foregoing
provisions of this Section 6(e), in lieu of the Seller performing its obligations with respect to any Material Defect as
set forth in the preceding paragraph, to the extent that the Seller and the Special Servicer (with the consent of the Controlling
Class Representative other than with respect to any Excluded Mortgage Loan and prior to the occurrence of a Control Termination
Event) as provided in the Pooling and Servicing Agreement, are able to agree upon a cash payment payable by the Seller to the Purchaser
or the Trust, as applicable, that would be deemed sufficient to compensate the Purchaser or the Trust, as applicable, for a Material
Defect (a “Loss of Value Payment”), the Seller may elect, in its sole discretion, to pay such Loss of Value
Payment to the Purchaser or the Trust, as applicable; provided, that a Material Defect as a result of a Mortgage Loan not
constituting a Qualified Mortgage, may not be cured by a Loss of Value Payment; and provided, further that the Loss
of Value Payment shall include the portion of any Liquidation Fees payable to the Special Servicer in respect of such Loss of Value
Payment and the portion of fees of the Asset Representations Reviewer attributable to the Asset Review of such Mortgage Loan. Upon
its making such payment, the Seller shall be deemed to have cured such Material Defect in all respects. Provided that such Loss
of Value Payment is made, this paragraph describes the sole remedy available to the Purchaser or the Trust, as applicable, and
its assignees regarding any such Material Defect, and the Seller shall not be obligated to repurchase or replace the affected Mortgage
Loan or otherwise cure such Material Defect. This paragraph is intended to apply only to a mutual agreement or settlement between
the Seller and the Special Servicer, as the case may be, provided that, prior to any such agreement or settlement, nothing
in this paragraph shall preclude the Seller or the Special Servicer, as applicable, from exercising any of its rights related to
a Material Defect in the manner and within the time frames set forth in the Pooling and Servicing Agreement or this Section
6(e) (excluding this paragraph) (including any right to cure, repurchase or substitute for a Mortgage Loan).

 

If (x) a Mortgage Loan is
to be repurchased or replaced as described above (a “Defective Mortgage Loan”), (y) such Defective Mortgage
Loan is part of a Cross-Collateralized Group and (z) the applicable Document Defect or Breach does not constitute a Material
Defect as to the other Mortgage Loan(s) that are a part of such Cross-Collateralized Group (the “Other Crossed Loans”)
(without regard to this paragraph), then the applicable Document Defect or Breach (as the case may be) shall be deemed to constitute
a Material Defect as to each such Other Crossed Loan for purposes of the above provisions, and the Seller shall be obligated to
repurchase or replace each such Other Crossed Loan in accordance with the provisions above unless, in the case of such Breach or
Document Defect, as applicable:

 

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(A)
 the Seller (at its expense) delivers or causes to be delivered to the Trustee, the Master Servicer and the Special Servicer
an Opinion of Counsel to the effect that such Seller’s repurchase or replacement of only those Mortgage Loans as to which
a Material Defect has actually occurred without regard to the provisions of this paragraph (the “Affected Loan(s)”)
and the operation of the remaining provisions of this Section 6(e) (i) will not cause either Trust REMIC to fail to
qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust under subpart E, part I of subchapter J of
the Code for federal income tax purposes at any time that any Certificate is outstanding and (ii) will not result in the imposition
of a tax upon either Trust REMIC or the Trust Fund (including but not limited to the tax on “prohibited transactions”
as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of
the Code); and

 

(B) 
 each of the following conditions would be satisfied if the Seller were to repurchase or replace only the Affected Loans
and not the Other Crossed Loans:

 

(1)  
the debt service coverage ratio for such Other Crossed Loan(s) (excluding the Affected Loan(s)) for the four calendar quarters
immediately preceding the repurchase or replacement is not less than the lesser of (A) 0.10x below the debt service coverage
ratio for the Cross-Collateralized Group (including the Affected Loan(s)) set forth in Annex A to the Prospectus and
(B) the debt service coverage ratio for the Cross-Collateralized Group (including the Affected Loan(s)) for the four preceding
calendar quarters preceding the repurchase or replacement;

 

(2)  
the loan-to-value ratio for the Other Crossed Loans (excluding the Affected Loan(s)) is not greater than the greatest of
(A) the loan-to-value ratio, expressed as a whole number percentage (taken to one decimal place), for the Cross-Collateralized
Group (including the Affected Loan(s)) set forth in Annex A to the Prospectus plus 10%, (B) the loan-to-value
ratio, expressed as a whole number percentage (taken to one decimal place), for the Cross-Collateralized Group (including the Affected
Loan(s)) at the time of repurchase or replacement and (C) 75%; and

 

(3)  
either (x) the exercise of remedies against the Primary Collateral of any Mortgage Loan in the Cross-Collateralized Group
will not impair the ability to exercise remedies against the Primary Collateral of the other Mortgage Loans in the Cross-Collateralized
Group or (y) the Loan Documents evidencing and securing the relevant Mortgage Loans have been modified in a manner that complies
with this Agreement and the Pooling and Servicing Agreement and that removes any threat of impairment of the ability to exercise
remedies against the Primary Collateral of the other Mortgage Loans in the Cross-Collateralized Group as a result of the exercise
of remedies against the Primary Collateral of any Mortgage Loan in the Cross-Collateralized Group.

 

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The determination of the Special
Servicer as to whether the conditions set forth above have been satisfied shall be conclusive and binding in the absence of manifest
error on the Certificateholders, other parties to the Pooling and Servicing Agreement and the Seller. The Special Servicer will
be entitled to cause to be delivered, or direct the Seller to (in which case the Seller shall) cause to be delivered, to the Special
Servicer an Appraisal of any or all of the related Mortgaged Properties for purposes of determining whether the condition set forth
in clause (B)(2) above has been satisfied, in each case at the expense of the Seller if the scope and cost of the Appraisal
is approved by the Seller and, prior to the occurrence and continuance of a Control Termination Event, the Controlling Class Representative
(such approval not to be unreasonably withheld in each case).

 

With respect to any Defective
Mortgage Loan that forms a part of a Cross-Collateralized Group and as to which the conditions described in the second preceding
paragraph are satisfied, such that the Trust Fund will continue to hold the Other Crossed Loans, the Seller and the Depositor agree
to forbear from enforcing any remedies against the other’s Primary Collateral but each is permitted to exercise remedies
against the Primary Collateral securing its respective Mortgage Loans, including with respect to the Trustee, the Primary Collateral
securing the Affected Loan(s) still held by the Trustee. If the exercise of remedies by one such party would impair the ability
of the other such party to exercise its remedies with respect to the Primary Collateral securing the Affected Loan or the Other
Crossed Loans, as the case may be, held by the other such party, then both parties shall forbear from exercising such remedies
unless and until the Loan Documents evidencing and securing the relevant Mortgage Loans can be modified in a manner that complies
with this Agreement to remove the threat of impairment as a result of the exercise of remedies. Any reserve or other cash collateral
or letters of credit securing any of the Mortgage Loans that form a Cross-Collateralized Group shall be allocated between such
Mortgage Loans in accordance with the related Loan Documents, or otherwise on a pro rata basis based upon their outstanding
Stated Principal Balances. All other terms of the Mortgage Loans shall remain in full force and effect, without any modification
thereof. The provisions of this paragraph shall be binding on all future holders of each Mortgage Loan that forms part of a Cross-Collateralized
Group.

 

The Pooling and Servicing Agreement
provides that, to the extent necessary and appropriate, the Master Servicer or Special Servicer, as applicable, will execute (pursuant
to a limited power of attorney provided by the Trustee who will not be liable for any misuse of any such power of attorney by the
Master Servicer or Special Servicer, as applicable, or any of its agents or subcontractors) the modification of the Loan Documents
that complies with this Agreement to remove the threat of impairment of the ability of the Seller or the Trust Fund to exercise
its remedies with respect to the Primary Collateral securing the Mortgage Loan(s) held by such party resulting from the exercise
of remedies by the other such party. All costs and expenses incurred by the Trustee, the Special Servicer and the Master Servicer
with respect to any Cross-Collateralized Group pursuant to this paragraph and the first, second and third preceding paragraphs
shall be advanced by the Master Servicer as provided for in Section 2.03(a) of the Pooling and Servicing Agreement, and such advances
and interest thereon shall be included in the calculation of Purchase Price for the Affected Loan(s) to be repurchased or replaced.

 

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Subject to the Seller’s
right to cure set forth above in this Section 6(e), and further subject to Sections 2.01(b) and 2.01(c) of the Pooling
and Servicing Agreement, failure of the Seller to deliver the documents referred to in clauses (1), (2), (7), (8), (18) and (19)
in the definition of “Mortgage File” in the Pooling and Servicing Agreement in accordance with this Agreement and the
Pooling and Servicing Agreement for any Mortgage Loan shall be deemed a Material Document Defect; provided, however,
that no Document Defect (except such deemed Material Document Defect described above) shall be considered to be a Material Document
Defect unless the document with respect to which the Document Defect exists is required in connection with an imminent enforcement
of the lender’s rights or remedies under the related Mortgage Loan, defending any claim asserted by any Mortgagor or third
party with respect to the Mortgage Loan, establishing the validity or priority of any lien on any collateral securing the Mortgage
Loan or for any immediate significant servicing obligation.

 

With respect to any Outside Serviced
Mortgage Loan, the Seller agrees that if a “material document defect” (as such term or any analogous term is defined
in the related Outside Servicing Agreement) exists under the related Outside Servicing Agreement with respect to the related Outside
Serviced Companion Loan included in the related Outside Securitization Trust, and such Outside Serviced Companion Loan is repurchased
by or on behalf of such Seller (or other responsible repurchasing entity) from the related Outside Securitization Trust as a result
of such “material document defect” (as such term or any analogous term is defined in such Outside Servicing Agreement),
then the Seller shall repurchase such Outside Serviced Mortgage Loan; provided, however, that such repurchase obligation
does not apply to any “material document defect” (as such term or any analogous term is defined in the related Outside
Servicing Agreement) related solely to the promissory note for such Outside Serviced Companion Loan.

 

(f)           In connection with any repurchase or substitution of one or more Mortgage Loans pursuant to this Section 6,
the Pooling and Servicing Agreement shall provide that the Trustee, the Certificate Administrator, the Custodian, the Master Servicer
and the Special Servicer shall each tender to the repurchasing entity, upon delivery to each of them of a receipt executed by the
repurchasing entity evidencing such repurchase or substitution, all portions of the Mortgage File (including, without limitation,
the Servicing File) and other documents and all Escrow Payments and reserve funds pertaining to such Mortgage Loan possessed by
it, and each document that constitutes a part of the Mortgage File shall be endorsed or assigned to the extent necessary or appropriate
to the repurchasing or substituting entity or its designee in the same manner, but only if the respective documents have been previously
assigned or endorsed to the Trustee, and pursuant to appropriate forms of assignment, substantially similar to the manner and forms
pursuant to which such documents were previously assigned to the Trustee or as otherwise reasonably requested to effect the retransfer
and reconveyance of the Mortgage Loan and the security therefor to the Seller or its designee; provided that such tender
by the Trustee and the Custodian shall be conditioned upon its receipt from the Master Servicer of a Request for Release and an
Officer’s Certificate to the effect that the requirements for repurchase or substitution have been satisfied. In the event
a Qualified Substitute Mortgage Loan is substituted for a Defective Mortgage Loan by the Seller as contemplated by this Section
6, the Seller shall deliver to the Custodian the related Mortgage File and to the Master Servicer all Escrow Payments and reserve
funds pertaining to such Qualified Substitute Mortgage Loan possessed by it and a certification to the effect that such Qualified
Substitute Mortgage Loan satisfies all of the

 

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requirements
of the definition of “Qualified Substitute Mortgage Loan” in the Pooling and Servicing Agreement.

 

If any Mortgage Loan is to be
repurchased or replaced as contemplated by this Section 6, the Seller shall amend the Mortgage Loan Schedule to reflect
the removal of any deleted Mortgage Loan and, if applicable, the substitution of the related Qualified Substitute Mortgage Loan(s)
and deliver or cause the delivery of such amended Mortgage Loan Schedule to the parties to the Pooling and Servicing Agreement.
Upon any substitution of a Qualified Substitute Mortgage Loan for a deleted Mortgage Loan, such Qualified Substitute Mortgage Loan
shall become part of the Trust Fund and be subject to the terms of this Agreement in all respects.

 

(g)          The representations and warranties of the parties hereto shall survive the execution and delivery of this Agreement and
shall inure to the benefit of the respective parties, notwithstanding any restrictive or qualified endorsement on the Notes or
Assignment of Mortgage or the examination of the Mortgage Files.

 

(h)          Each party hereto agrees to promptly notify the other party of any breach of a representation or warranty contained in Section
6(c) of this Agreement. The Seller’s obligation to cure any Material Defect or to repurchase, or substitute for, or make
a Loss of Value Payment with respect to, any affected Mortgage Loan pursuant to this Section 6 shall constitute the sole
remedy available to the Purchaser in connection with a breach of any of the Seller’s representations or warranties contained
in Section 6(c) of this Agreement or a Document Defect with respect to any Mortgage Loan.

 

(i)           The Seller shall promptly notify the Depositor if (i) the Seller receives a Repurchase Communication of a Repurchase Request
(other than from the Depositor), (ii) the Seller repurchases or replaces a Mortgage Loan, (iii) the Seller receives a Repurchase
Communication of a Repurchase Request Withdrawal (other than from the Depositor) or (iv) the Seller rejects or disputes any Repurchase
Request. Each such notice shall be given no later than the tenth (10th) Business Day after (A) with respect to clauses (i) and
(iii) of the preceding sentence, receipt of a Repurchase Communication of a Repurchase Request or a Repurchase Request Withdrawal,
as applicable, and (B) with respect to clauses (ii) and (iv) of the preceding sentence, the occurrence of the event giving rise
to the requirement for such notice, and shall include (1) the identity of the related Mortgage Loan and the person making the Repurchase
Request, (2) the date (x) such Repurchase Communication of such Repurchase Request or Repurchase Request Withdrawal was received,
(y) the related Mortgage Loan was repurchased or replaced or (z) the Repurchase Request was rejected or disputed, as applicable,
and (3) if known, the basis for (x) the Repurchase Request (as asserted in the Repurchase Request) or (y) any rejection or dispute
of a Repurchase Request, as applicable.

 

The Seller shall provide to the
Depositor and the Certificate Administrator the Seller’s “Central Index Key” number assigned by the Securities
and Exchange Commission (the “Commission”) and a true, correct and complete copy of the relevant portions of
any Form ABS-15G that the Seller is required to file with the Commission under Rule 15Ga-1 under the Exchange Act with respect
to the Mortgage Loans, on or before the date that is five (5) Business Days before the date such Form ABS-15G is required
to be filed with the Commission.

 

    -18- 

     

    

 

In addition, the Seller shall
provide the Depositor, upon request, such other information in its possession as would permit the Depositor to comply with its
obligations under Rule 15Ga-1 under the Exchange Act to disclose fulfilled and unfulfilled repurchase requests. Any such information
requested shall be provided as promptly as practicable after such request is made.

 

The Seller agrees that no Rule
15Ga-1 Notice Provider will be required to provide information in a Rule 15Ga-1 Notice that is protected by the attorney-client
privilege or attorney work product doctrines. In addition, the Seller hereby acknowledges that (i) any Rule 15Ga-1 Notice
provided pursuant to Section 2.03(a) of the Pooling and Servicing Agreement is so provided only to assist the Seller, the
Depositor and their respective Affiliates to comply with Rule 15Ga-1 under the Exchange Act, Items 1104 and 1121 of Regulation
AB and any other requirement of law or regulation and (ii)(A) no action taken by, or inaction of, a Rule 15Ga-1 Notice Provider
and (B) no information provided pursuant to Section 2.03(a) of the Pooling and Servicing Agreement by a Rule 15Ga-1 Notice
Provider shall be deemed to constitute a waiver or defense to the exercise of any legal right the Rule 15Ga-1 Notice Provider may
have with respect to this Agreement, including with respect to any Repurchase Request that is the subject of a Rule 15Ga-1 Notice.

 

Each party hereto agrees that
the receipt of a Rule 15Ga-1 Notice or the delivery of any notice required to be delivered pursuant to this Section 6(i)
shall not, in and of itself, constitute delivery of notice of, receipt of notice of, or knowledge of the Seller of, any Material
Defect.

 

Each party hereto agrees and
acknowledges that, as of the date of this Agreement, the “Central Index Key” number of the Trust Fund is 0001673255.

 

“Repurchase Communication”
means, for purposes of this Section 6(i) only, any communication, whether oral or written, which need not be in any
specific form.

 

(j)           The Seller hereby acknowledges and agrees that it has engaged Ernst & Young LLP (the “Accounting Firm”)
to perform “due diligence services” (as defined in Rule 17g-10 under the Exchange Act) with respect to the Mortgage
Loans and to prepare a “third-party due diligence report” (as defined in Rule 15Ga-2 under the Exchange Act) (the “Accountant’s
Third-Party Due Diligence Report”) in connection therewith. The Seller hereby represents and warrants to, and covenants
with, the Depositor that, except with respect to the Accounting Firm and the Accountant’s Third-Party Due Diligence Report,
the Seller, as of the Closing Date, (A) has not obtained any “third-party due diligence report” (as defined in Rule
15Ga-2 under the Exchange Act), and (B) has not retained any third party to engage in, and will not retain any third party to engage
in, any activity that constitutes “due diligence services” (as defined in Rule 17g-10 under the Exchange Act) with
respect to the Mortgage Loans, unless, in the case of the immediately preceding clause (B) and following the Closing Date, the
Seller (i) provides prior written notice to the Depositor, (ii) requires the third-party due diligence provider to comply
with its obligations under Section 15E(s)(4)(B) of, and Rule 17g-10 under, the Exchange Act (including with respect to the timely
delivery to any applicable NRSRO and to the Depositor of a Form ABS Due Diligence-15E), and (iii) facilitates the Depositor’s
compliance with Rule 17g-5(a)(3)(iii)(E) under the Exchange Act, with respect thereto. The

 

    -19- 

     

    

 

Seller
further represents and warrants that no portion of the Accountant’s Third-Party Due Diligence Report contains, with respect
to the information contained therein with respect to the Mortgage Loans, any names, addresses, other personal identifiers or zip
codes with respect to any individuals, or any other personally identifiable or other information that would be associated with
an individual, including without limitation any “nonpublic personal information” within the meaning of Title V of
the Gramm-Leach-Bliley Financial Services Modernization Act of 1999. The Underwriters and Initial Purchasers are third-party beneficiaries
of the provisions set forth in this Section 6(j).

 

(k)          The Seller further represents and warrants that, with respect to any Mortgage Loan that is, or that at any time that any
Certificate is outstanding becomes, part of an Outside Serviced Loan Combination (and for which the depositor under the Outside
Servicing Agreement is not the Purchaser), the related Outside Servicing Agreement contains, or at the time such Outside Servicing
Agreement is executed and delivered will contain, terms and provisions (or, to the extent specified on Exhibit E to this
Agreement, the related Co-Lender Agreement contains terms and provisions) that are designed to comply in all material respects
with the provisions set forth on Exhibit E to this Agreement. The Seller further represents and warrants that, with respect
to any Mortgage Loan that is, or that at any time that any Certificate is outstanding becomes, part of an Outside Serviced Loan
Combination (and for which the depositor under the Outside Servicing Agreement is the Purchaser), the related Co-Lender Agreement
does not contain any terms or provisions that conflict with (or that will conflict with) any terms or provisions in the related
Outside Servicing Agreement that are designed to comply in all material respects with the provisions set forth on Exhibit E to
this Agreement.

 

SECTION 7     Review of Mortgage File. The parties hereto acknowledge that the Custodian will be required to review the Mortgage
Files pursuant to Section 2.02 of the Pooling and Servicing Agreement and if it finds any document or documents not to have
been properly executed, or to be missing or to be defective on its face in any material respect, to notify the Purchaser, which
shall promptly notify the Seller.

 

SECTION 8     Conditions to Closing. The obligation of the Seller to sell the Mortgage Loans shall be subject to the Seller having
received the purchase price for the Mortgage Loans as contemplated by Section 1 of this Agreement. The obligations
of the Purchaser to purchase the Mortgage Loans shall be subject to the satisfaction, on or prior to the Closing Date, of the following
conditions:

 

(a)          Each of the obligations of the Seller required to be performed by it at or prior to the Closing Date pursuant to the terms
of this Agreement shall have been duly performed and complied with and all of the representations and warranties of the Seller
under this Agreement shall, subject to any applicable exceptions set forth on Exhibit C to this Agreement, be true and correct
in all material respects as of the Closing Date or as of such other date as of which such representation is made under the terms
of Exhibit B to this Agreement, and no event shall have occurred as of the Closing Date which would constitute a default
on the part of the Seller under this Agreement, and the Purchaser shall have received a certificate to the foregoing effect signed
by the Seller substantially in the form of Exhibit D to this Agreement.

 

    -20- 

     

    

 

(b)          The Pooling and Servicing Agreement (to the extent it affects the obligations of the Seller hereunder), in such form as
is agreed upon and acceptable to the Purchaser, the Seller, the Underwriters, the Initial Purchasers and their respective counsel
in their reasonable discretion, shall be duly executed and delivered by all signatories as required pursuant to the terms thereof.

 

(c)          The Purchaser shall have received the following additional closing documents:

 

(i)           copies of the Seller’s Articles of Association, charter, by-laws or other organizational documents and all amendments,
revisions, restatements and supplements thereof, certified as of a recent date by the Secretary of the Seller;

 

(ii)          a certificate as of a recent date of the Secretary of State of the State of New York to the effect that the Seller is duly
organized, existing and in good standing in the State of New York;

 

(iii)         an officer’s certificate of the Seller in form reasonably acceptable to the Underwriters, the Initial Purchasers and
each Rating Agency;

 

(iv)         an opinion of counsel of the Seller, subject to customary exceptions and carve-outs, in form reasonably acceptable to the
Underwriters, the Initial Purchasers and each Rating Agency; and

 

(v)          a letter from counsel of the Seller substantially to the effect that (a) nothing has come to such counsel’s attention
that would lead such counsel to believe that the agreed upon sections of the Preliminary Prospectus, the Prospectus, the Preliminary
Offering Circular or the Final Offering Circular (each as defined in the Indemnification Agreement), as of the date thereof or
as of the Closing Date (or, in the case of the Preliminary Prospectus or the Preliminary Offering Circular, solely as of the time
of sale) contained or contain, as applicable, with respect to the Seller Information, any untrue statement of a material fact or
omitted or omit to state a material fact necessary in order to make the statements therein relating to the Seller Information,
in the light of the circumstances under which they were made, not misleading and (b) the Seller Information in the Prospectus appears
to be appropriately responsive in all material respects to the applicable requirements of Regulation AB.

 

(d)          The Public Certificates shall have been concurrently issued and sold pursuant to the terms of the Underwriting Agreement.
The Private Certificates shall have been concurrently issued and sold pursuant to the terms of the Certificate Purchase Agreement.

 

(e)          The Seller shall have executed and delivered concurrently herewith the Indemnification Agreement.

 

(f)           The Seller shall furnish the Purchaser, the Underwriters and the Initial Purchasers with such other certificates of its
officers or others and such other documents and opinions to evidence fulfillment of the conditions set forth in this Agreement
as the Purchaser and its counsel may reasonably request.

 

    -21- 

     

    

 

(g)          [Reserved]

 

SECTION 9     Closing. The closing for the purchase and sale of the Mortgage Loans shall take place at the offices of Orrick, Herrington
& Sutcliffe LLP, New York, New York, at 10:00 a.m., on the Closing Date or such other place and time as the parties shall
agree.

 

SECTION 10   Expenses. The Seller will pay its pro rata share (the Seller’s pro rata portion to be determined according
to the percentage that the aggregate principal balance as of the Cut-Off Date of all the Mortgage Loans represents as to the aggregate
principal balance as of the Cut-Off Date of all the mortgage loans to be included in the Trust Fund) of all costs and expenses
of the Purchaser in connection with the transactions contemplated herein, including, but not limited to: (i) the costs and
expenses of the Purchaser in connection with the purchase of the Mortgage Loans; (ii) the costs and expenses of reproducing
and delivering the Pooling and Servicing Agreement and this Agreement and printing (or otherwise reproducing) and delivering the
Certificates; (iii) the reasonable and documented fees, costs and expenses of the Trustee, the Certificate Administrator,
the Master Servicer, the Special Servicer, the Asset Representations Reviewer and their respective counsel; (iv) the fees
and disbursements of a firm of certified public accountants selected by the Purchaser and the Seller with respect to numerical
information in respect of the Mortgage Loans and the Certificates included in the Preliminary Prospectus, the Prospectus, the Preliminary
Offering Circular, the Final Offering Circular and any related disclosure for the initial Form 8-K, including the cost of obtaining
any “comfort letters” with respect to such items; (v) the costs and expenses in connection with the qualification or
exemption of the Certificates under state securities or blue sky laws, including filing fees and reasonable fees and disbursements
of counsel in connection therewith; (vi) the costs and expenses in connection with any determination of the eligibility of
the Certificates for investment by institutional investors in any jurisdiction and the preparation of any legal investment survey,
including reasonable fees and disbursements of counsel in connection therewith; (vii) the costs and expenses in connection with
printing (or otherwise reproducing) and delivering the Registration Statement (as such term is defined in the Indemnification Agreement),
Preliminary Prospectus, Prospectus, Preliminary Offering Circular and Final Offering Circular and the reproducing and delivery
of this Agreement and the furnishing to the Underwriters of such copies of the Registration Statement, Preliminary Prospectus,
Prospectus, Preliminary Offering Circular, Final Offering Circular and this Agreement as the Underwriters may reasonably request;
(viii) the fees of the rating agency or agencies requested to rate the Certificates; (ix) the reasonable fees and expenses
of Orrick, Herrington & Sutcliffe LLP as counsel to the Depositor; and (x) the reasonable fees and expenses of Mayer Brown
LLP, as counsel to the Underwriters and the Initial Purchasers.

 

If the Seller elects to exercise
its rights under Section 12.14 of the Pooling and Servicing Agreement, then the Seller shall pay the reasonable costs and expenses
(if any) of the Depositor, Master Servicer, Special Servicer and Trustee resulting from such parties’ obligations to cooperate
with the Seller under Section 12.14 of the Pooling and Servicing Agreement.

 

SECTION 11   Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable
from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way

 

    -22- 

     

    

 

affect
the validity or enforceability of the other provisions of this Agreement. Furthermore, the parties shall in good faith endeavor
to replace any provision held to be invalid or unenforceable with a valid and enforceable provision which most closely resembles,
and which has the same economic effect as, the provision held to be invalid or unenforceable.

 

SECTION 12   Governing Law. 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.

 

SECTION 13   Waiver of Jury Trial. 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 14   Submission to Jurisdiction. EACH OF THE PARTIES HERETO IRREVOCABLY (I) SUBMITS TO THE JURISDICTION OF THE COURTS
OF THE STATE OF NEW YORK LOCATED IN NEW YORK COUNTY 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 SUCH ACTION OR PROCEEDING IN ANY SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT
IN ANY SUCH 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 AND AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT
SERVICE OF PROCESS IN ANY MANNER PERMITTED BY LAW.

 

SECTION 15   No Third-Party Beneficiaries. The parties do not intend the benefits of this Agreement to inure to any third party
except as expressly set forth in Section 6 and Section 16.

 

SECTION 16   
Assignment. The Seller hereby acknowledges that the Purchaser has, concurrently with the execution hereof, executed
and delivered the Pooling and Servicing Agreement and that, in connection therewith, it has assigned its rights hereunder to the
Trustee for the benefit of the Certificateholders. The Seller hereby acknowledges its obligations pursuant to Sections 2.01,
2.02 and 2.03 of the Pooling and Servicing Agreement. This Agreement shall bind and inure to the benefit of and be enforceable
by the Seller, the Purchaser and their

 

    -23- 

     

    

 

permitted
successors and assigns. Any Person into which the Seller may be merged or consolidated, or any Person resulting from any merger,
conversion or consolidation to which the Seller may become a party, or any Person succeeding to all or substantially all of the
business of the Seller, shall be the successor to the Seller hereunder without any further act. The warranties and representations
and the agreements made by the Seller herein shall survive delivery of the Mortgage Loans to the Trustee until the termination
of the Pooling and Servicing Agreement, but shall not be further assigned by the Trustee to any Person.

 

SECTION 17   Notices. All communications hereunder shall be in writing and effective only upon receipt and (i) if sent to
the Purchaser, will be mailed, hand delivered, couriered or sent by fax transmission or electronic mail and confirmed to it at
Citigroup Commercial Mortgage Securities Inc., 390 Greenwich Street, 5th Floor, New York, New York 10013, to the attention of Paul
Vanderslice, fax number (212) 723-8599, and 390 Greenwich Street, 7th Floor, New York, New York 10013, to the attention of Richard
Simpson, fax number (646) 328-2943, and 388 Greenwich Street, 17th Floor, New York, New York 10013, to the attention of Ryan M.
O’Connor, fax number (646) 862-8988, and with an electronic copy emailed to Richard Simpson at richard.simpson@citi.com and
to Ryan M. O’Connor at ryan.m.oconnor@citi.com, (ii) if sent to the Seller, will be mailed, hand delivered, couriered or
sent by fax transmission or electronic mail and confirmed to it at Citigroup Global Markets Realty Corp., 390 Greenwich Street,
5th Floor, New York, New York 10013, to the attention of Paul Vanderslice, fax number (212) 723-8599, and Citigroup Global Markets
Realty Corp., 390 Greenwich Street, 7th Floor, New York, New York 10013, to the attention of Richard Simpson, fax number (646)
328-2943, and 388 Greenwich Street, 17th Floor, New York, New York 10013, to the attention of Ryan M. O’Connor, fax number
(646) 862-8988, and with an electronic copy emailed to Richard Simpson at richard.simpson@citi.com and to Ryan M. O’Connor
at ryan.m.oconnor@citi.com, and (iii) in the case of any of the preceding parties, such other address as may hereafter be
furnished to the other party in writing by such parties.

 

SECTION 18   Amendment. This Agreement may be amended only by a written instrument which specifically refers to this Agreement
and is executed by the Purchaser and the Seller. This Agreement shall not be deemed to be amended orally or by virtue of any continuing
custom or practice. No amendment to the Pooling and Servicing Agreement which relates to defined terms contained therein or to
any obligations or rights of the Seller whatsoever shall be effective against the Seller unless the Seller shall have agreed to
such amendment in writing.

 

SECTION 19   Counterparts. This Agreement may be executed in any number of counterparts, and by the parties hereto in separate
counterparts, each of which when executed and delivered shall be deemed to be an original and all of which taken together shall
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.

 

SECTION 20   Exercise of Rights. No failure or delay on the part of any party to exercise any right, power or privilege under
this Agreement and no course of dealing between the Seller and the Purchaser shall operate as a waiver thereof, nor shall any single
or partial exercise of any right, power or privilege under this Agreement preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. Except as set forth in

 

    -24- 

     

    

 

Section 6(h)
of this Agreement, the rights and remedies herein expressly provided are cumulative and not exclusive of any rights or remedies
which any party would otherwise have pursuant to law or equity. No notice to or demand on any party in any case shall entitle
such party to any other or further notice or demand in similar or other circumstances, or constitute a waiver of the right of
either party to any other or further action in any circumstances without notice or demand.

 

SECTION 21   No Partnership. Nothing herein contained shall be deemed or construed to create a partnership or joint venture between
the parties hereto. Nothing herein contained shall be deemed or construed as creating an agency relationship between the Purchaser
and the Seller and neither party shall take any action which could reasonably lead a third party to assume that it has the authority
to bind the other party or make commitments on such party’s behalf.

 

SECTION 22   Miscellaneous. This Agreement supersedes all prior agreements and understandings relating to the subject matter hereof.
Neither this Agreement nor any term hereof may be waived, discharged or terminated orally, but only by an instrument in writing
signed by the party against whom enforcement of the waiver, discharge or termination is sought.

 

SECTION 23   Further Assurances. The Seller and Purchaser each agree to execute and deliver such instruments and take such further
actions as any party hereto may, from time to time, reasonably request in order to effectuate the purposes and carry out the terms
of this Agreement.

 

* * * * * *

 

    -25- 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year
first above written.

	 	 	 
	 	CITIGROUP COMMERCIAL MORTGAGE SECURITIES INC.
	 	 
	 	By:	/s/ Richard W. Simpson
	 	 	Name:  Richard W. Simpson
	 	 	Title:    Authorized Signatory
	 	 	 
	 	CITIGROUP GLOBAL MARKETS REALTY CORP.
	 	 	 
	 	By:	/s/ Richard W. Simpson
	 	 	Name:  Richard W. Simpson
	 	 	Title:    Authorized Signatory

 

Signature Page - CGCMT 2016-C1
– CGMRC Mortgage Loan Purchase Agreement

 

     

     

    

  

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

    A-1 

     

    

 

 

CGCMT 2016-C1 Mortgage Loan Schedule
- CGMRC

		  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	Original	  	Remaining	  	  	  	Remaining	  	  	  	  	  	  
	Control	  	  	  	Loan	  	  	  	  	  	  	  	  	  	  	  	Cut-Off Date	  	Mortgage	  	Term To	  	  	  	Amortization Term	  	Servicing	  	Subservicing	  	Mortgage  
	Number	  	Footnotes	  	Number	  	Property Name	  	Address	  	City	  	State	  	Zip Code	  	Balance ($)	  	Rate	  	Maturity Date (Mos.)	  	Maturity Date	  	(Mos.)	  	Fee Rate (%)	  	Fee Rate (%)	  	Loan Seller
	1	  	  	  	9441	  	The Strip	  	6338-6765 Strip Avenue Northwest	  	North Canton	  	Ohio	  	44720	  	101,871,669.72	  	4.75000%	  	119	  	4/6/2026	  	359	  	0.00500%	  	0.00000%	  	CGMRC
	3	  	(2)	  	9349	  	Hyatt Regency Huntington Beach Resort & Spa	  	21500 Pacific Coast Highway	  	Huntington Beach  	  	California	  	92648	  	54,000,000.00	  	5.07000%	  	120	  	5/1/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	4	  	(3)	  	9409	  	One Harbor Point Square	  	2200 Atlantic Street	  	Stamford	  	Connecticut	  	06902	  	41,000,000.00	  	4.69950%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.01000%	  	CGMRC
	5	  	(4)	  	2	  	Marriott Savannah Riverfront	  	100 General McIntosh Boulevard	  	Savannah	  	Georgia	  	31401	  	20,000,000.00	  	5.58400%	  	120	  	5/6/2026	  	300	  	0.00250%	  	0.00250%	  	CCRE, CGMRC
	6	  	  	  	9309	  	4455 LBJ Freeway	  	4455 LBJ Freeway	  	Farmers Branch	  	Texas	  	75244	  	29,000,000.00	  	4.96000%	  	120	  	5/6/2026	  	300	  	0.00500%	  	0.00000%	  	CGMRC
	7	  	  	  	9484	  	Storage Depot Portfolio	  	  	  	  	  	  	  	  	  	25,250,000.00	  	4.95000%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.03000%	  	CGMRC
	7.01	  	  	  	9484-2	  	Storage Depot-Northeast	  	6325 Allentown Boulevard	  	Harrisburg	  	Pennsylvania	  	17112	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	7.02	  	  	  	9484-3	  	Storage Depot-North	  	4401 North 6th Street	  	Harrisburg	  	Pennsylvania	  	17110	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	7.03	  	  	  	9484-1	  	Storage Depot-South	  	115 Cumberland Parkway	  	Mechanicsburg	  	Pennsylvania	  	17055	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	7.04	  	  	  	9484-4	  	Storage Depot-West	  	350 South 7th Street	  	Lemoyne	  	Pennsylvania	  	17043	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	7.05	  	  	  	9484-5	  	Storage Depot-East	  	321 Milroy Road	  	Harrisburg	  	Pennsylvania	  	17111	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	10	  	  	  	9385	  	Plumtree Apartments	  	229 Parkwood Drive	  	Lansing	  	Michigan	  	48917	  	17,175,000.00	  	5.13000%	  	119	  	4/6/2026	  	360	  	0.00250%	  	0.03000%	  	CGMRC
	11	  	(6)	  	9487	  	247 Bedford Avenue	  	247 Bedford Avenue	  	Brooklyn	  	New York	  	11211	  	17,150,000.00	  	4.75000%	  	120	  	5/6/2026	  	0	  	0.00500%	  	0.00000%	  	CGMRC
	13	  	  	  	9499	  	DoubleTree - Cocoa Beach	  	2080 North Atlantic Avenue	  	Cocoa Beach	  	Florida	  	32931	  	14,183,590.18	  	5.21000%	  	59	  	4/6/2021	  	359	  	0.00500%	  	0.00000%	  	CGMRC
	14	  	  	  	9374	  	Bushwick Retail Portfolio	  	  	  	  	  	  	  	  	  	14,000,000.00	  	5.07000%	  	119	  	4/6/2026	  	0	  	0.00500%	  	0.00000%	  	CGMRC
	14.01	  	  	  	11549	  	1467-1469 Broadway	  	1467-1469 Broadway	  	Brooklyn	  	New York	  	11221	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	14.02	  	  	  	11547	  	1419 Broadway	  	1419 Broadway	  	Brooklyn	  	New York	  	11221	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	14.03	  	  	  	11548	  	1441 Broadway	  	1441 Broadway	  	Brooklyn	  	New York	  	11221	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	17	  	  	  	9610	  	46 Geary Street	  	46 Geary Street	  	San Francisco	  	California	  	94108	  	12,700,000.00	  	5.12000%	  	121	  	6/1/2026	  	0	  	0.00500%	  	0.00000%	  	CGMRC
	20	  	(7)	  	9070	  	Park Place	  	1255, 1260, 1333, 1340, 1445 and 1450 South Spectrum Boulevard	  	Chandler	  	Arizona	  	85286	  	12,000,000.00	  	4.92000%	  	116	  	1/6/2026	  	360	  	0.00250%	  	0.02000%	  	CGMRC
	21	  	  	  	9433	  	CSS Island Park	  	4055 Austin Boulevard	  	Island Park	  	New York	  	11558	  	11,000,000.00	  	4.44000%	  	119	  	4/6/2026	  	0	  	0.00500%	  	0.00000%	  	CGMRC
	23	  	  	  	9123	  	Brookfield Office	  	31500 Northwestern Highway	  	Farmington Hills	  	Michigan	  	48334	  	9,971,959.30	  	4.98000%	  	119	  	4/6/2026	  	359	  	0.00250%	  	0.05000%	  	CGMRC
	25	  	  	  	9455	  	My Space Storage Portfolio	  	  	  	  	  	  	  	  	  	9,000,000.00	  	5.09000%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.05000%	  	CGMRC
	25.01	  	  	  	9455-4	  	My Space Storage Lansing	  	5814 South Pennsylvania Avenue	  	Lansing	  	Michigan	  	48911	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	25.02	  	  	  	9455-2	  	My Space Storage Flint	  	4101 West Pierson Road	  	Flint	  	Michigan	  	48504	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	25.03	  	  	  	9455-3	  	My Space Storage 4th Street	  	306 North 4th Street	  	Brighton	  	Michigan	  	48116	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	25.04	  	  	  	9455-1	  	My Space Storage Hill Road	  	1287 West Hill Road	  	Flint	  	Michigan	  	48507	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	28	  	  	  	9497	  	Pflugerville SC	  	15424 FM 1825	  	Pflugerville	  	Texas	  	78660	  	8,625,000.00	  	4.95000%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	29	  	  	  	9363	  	Amsdell Devon 2.0	  	10-12 East Oregon Avenue	  	Philadelphia	  	Pennsylvania	  	19148	  	8,400,000.00	  	5.36000%	  	119	  	4/6/2026	  	360	  	0.00250%	  	0.03000%	  	CGMRC
	31	  	  	  	9457	  	Emory Village	  	1401-1405 Oxford Road and 1554-1556 North Decatur Road	  	Atlanta	  	Georgia	  	30307	  	7,250,000.00	  	5.44000%	  	119	  	4/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	35	  	  	  	9447	  	Winterhaven Square	  	6031 Cypress Gardens Boulevard	  	Winter Haven	  	Florida	  	33884	  	5,500,000.00	  	4.85000%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	36	  	  	  	9496	  	Rite Aid - ACV Portfolio	  	  	  	  	  	  	  	  	  	5,450,000.00	  	4.89000%	  	119	  	4/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	36	  	  	  	9496-1	  	Rite Aid - Lynden, WA	  	8090 Guide Meridian Road	  	Lynden	  	Washington	  	98264	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	36	  	  	  	9496-2	  	Rite Aid - Atco, NJ	  	375 White Horse Pike	  	Atco	  	New Jersey	  	08004	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	37	  	  	  	9420	  	Cape Atlantic Self Storage	  	3 West Roosevelt Boulevard	  	Marmora	  	New Jersey	  	08223	  	5,100,000.00	  	5.38000%	  	120	  	5/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	39	  	  	  	9368	  	Mountainside Crossing	  	9815 West Happy Valley Road	  	Peoria	  	Arizona	  	85383	  	5,010,000.00	  	4.98000%	  	120	  	5/6/2026	  	360	  	0.00250%	  	0.05000%	  	CGMRC
	45	  	  	  	9028	  	Shops at Harbison Hill	  	131 Harbison Boulevard	  	Columbia	  	South Carolina	  	29212	  	4,350,000.00	  	5.25000%	  	119	  	4/6/2026	  	360	  	0.00500%	  	0.00000%	  	CGMRC
	46	  	  	  	9488	  	Eldridge SS Portfolio	  	  	  	  	  	  	  	  	  	4,340,833.01	  	5.35000%	  	118	  	3/6/2026	  	358	  	0.00500%	  	0.00000%	  	CGMRC
	46.01	  	  	  	9488-1	  	Rome Hilliard Storage	  	466 Hilliard Rome Road	  	Columbus	  	Ohio	  	43228	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	46.02	  	  	  	9488-2	  	Betta Stor-It	  	2614 West Highway 98	  	Mary Esther	  	Florida	  	32569	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	CGMRC
	49	  	  	  	9469	  	Walgreens Clinton	  	245 South Main Street	  	Clinton	  	Tennessee	  	37716	  	3,985,241.17	  	5.04000%	  	119	  	4/6/2026	  	359	  	0.00500%	  	0.00000%	  	CGMRC
	50	  	  	  	9501	  	Food Lion Zebulon	  	114 Wakelon Street	  	Zebulon	  	North Carolina	  	27597	  	3,900,000.00	  	5.04000%	  	120	  	5/6/2026	  	240	  	0.00500%	  	0.00000%	  	CGMRC

  

     

     

    

 

CGCMT 2016-C1
Mortgage Loan Schedule - CGMRC

 

	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	Serviced Companion Loan	   	   	   	Serviced Companion Loan	   	   	   	   
	   	   	   	   	   	   	   	   	Crossed With	   	   	   	   	   	   	   	   	   	   	   	   	   	Remaining	   	Serviced Companion Loan	   	Remaining	   	Serviced Companion Loan	   	Outside Serviced Mortgage Loan
	Control	   	   	   	Loan	   	   	   	Other Loans	   	ARD	   	Final	   	ARD	   	Serviced Companion Loan	   	Serviced Companion Loan	   	Serviced Companion Loan	   	Term To	   	Maturity	   	Amortization Term	   	Servicing	   	Outside Servicer Primary
	Number	   	Footnotes	   	Number	   	Property Name	   	(Crossed Group)	   	(Yes/No)	   	Maturity Date	   	Revised Rate	   	Flag	   	Cut-off Balance	   	Interest Rate	   	Maturity	   	Date	   	(Mos.)	   	Fee Rate	   	Servicing Fee Rate
	1	   	   	   	9441	   	The Strip	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	3	   	(2)	   	9349	   	Hyatt Regency Huntington Beach Resort & Spa	   	NAP	   	No	   	5/1/2026	   	   	   	Yes	   	146,000,000.00	   	5.07000%	   	120	   	5/1/2026	   	360	   	0.00250%	   	   
	4	   	(3)	   	9409	   	One Harbor Point Square	   	NAP	   	No	   	5/6/2026	   	   	   	Yes	   	41,000,000.00	   	4.69950%	   	120	   	5/6/2026	   	360	   	0.01250%	   	   
	5	   	(4)	   	2	   	Marriott Savannah Riverfront	   	NAP	   	No	   	5/6/2026	   	   	   	Yes	   	33,500,000.00	   	5.58400%	   	120	   	5/6/2026	   	300	   	0.00250%	   	   
	6	   	   	   	9309	   	4455 LBJ Freeway	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7	   	   	   	9484	   	Storage Depot Portfolio	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7.01	   	   	   	9484-2	   	Storage Depot-Northeast	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7.02	   	   	   	9484-3	   	Storage Depot-North	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7.03	   	   	   	9484-1	   	Storage Depot-South	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7.04	   	   	   	9484-4	   	Storage Depot-West	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	7.05	   	   	   	9484-5	   	Storage Depot-East	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	10	   	   	   	9385	   	Plumtree Apartments	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	11	   	(6)	   	9487	   	247 Bedford Avenue	   	NAP	   	No	   	5/6/2026	   	   	   	Yes	   	13,850,000.00	   	4.75000%	   	120	   	5/6/2026	   	0	   	0.00250%	   	   
	13	   	   	   	9499	   	DoubleTree - Cocoa Beach	   	NAP	   	No	   	4/6/2021	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	14	   	   	   	9374	   	Bushwick Retail Portfolio	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	14.01	   	   	   	11549	   	1467-1469 Broadway	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	14.02	   	   	   	11547	   	1419 Broadway	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	14.03	   	   	   	11548	   	1441 Broadway	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	17	   	   	   	9610	   	46 Geary Street	   	NAP	   	No	   	6/1/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	20	   	(7)	   	9070	   	Park Place	   	NAP	   	No	   	1/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	0.02000%
	21	   	   	   	9433	   	CSS Island Park	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	23	   	   	   	9123	   	Brookfield Office	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	25	   	   	   	9455	   	My Space Storage Portfolio	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	25.01	   	   	   	9455-4	   	My Space Storage Lansing	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	25.02	   	   	   	9455-2	   	My Space Storage Flint	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	25.03	   	   	   	9455-3	   	My Space Storage 4th Street	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	25.04	   	   	   	9455-1	   	My Space Storage Hill Road	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	28	   	   	   	9497	   	Pflugerville SC	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	29	   	   	   	9363	   	Amsdell Devon 2.0	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	31	   	   	   	9457	   	Emory Village	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	35	   	   	   	9447	   	Winterhaven Square	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	36	   	   	   	9496	   	Rite Aid - ACV Portfolio	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	36	   	   	   	9496-1	   	Rite Aid - Lynden, WA	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	36	   	   	   	9496-2	   	Rite Aid - Atco, NJ	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	37	   	   	   	9420	   	Cape Atlantic Self Storage	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	39	   	   	   	9368	   	Mountainside Crossing	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	45	   	   	   	9028	   	Shops at Harbison Hill	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	46	   	   	   	9488	   	Eldridge SS Portfolio	   	NAP	   	No	   	3/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	46.01	   	   	   	9488-1	   	Rome Hilliard Storage	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	46.02	   	   	   	9488-2	   	Betta Stor-It	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	49	   	   	   	9469	   	Walgreens Clinton	   	NAP	   	No	   	4/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   
	50	   	   	   	9501	   	Food Lion Zebulon	   	NAP	   	No	   	5/6/2026	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   	   

 

	(2)	The
    Cut-Off Date Balance of $54,000,000 represents the controlling note A-1-1 of a $200,000,000 loan combination evidenced by
    six pari passu notes. The companion loans, which are evidenced by the non-controlling notes A-1-2, A-2, A-3, A-4, and A-5
    and have an outstanding principal balance of $146,000,000 as of the Cut-Off Date, are expected to be contributed to one or
    more future securitization transactions. Cut-Off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield
    on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on
    the aggregate Cut-Off Date Balance of $200,000,000.
	(3)	The
    Cut-Off Date Balance of $41,000,000 represents the controlling note A-1 of a $82,000,000 loan combination evidenced by two
    pari passu notes. The companion loan, which is evidenced by the non-controlling note A-2 (i) has an outstanding principal
    balance of $41,000,000 as of the Cut-Off Date, and (ii) as of the Cut-Off Date was expected to be, and as of the Closing Date
    has been, contributed to the JPMDB 2016-C2 securitization transaction. Cut-Off Date LTV Ratio, LTV Ratio at Maturity, Underwritten
    NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations
    are based on the aggregate Cut-Off Date Balance of $82,000,000.
	(4)	The
    Cut-Off Date Balance of $20,000,000 represents the non-controlling note A-2-1 portion of a whole mortgage loan (the “Marriott
    Savannah Riverfront Mortgage Loan”) with an aggregate outstanding balance of $40,000,000 as of the Cut-Off Date that
    will be contributed to the Trust on the Closing Date jointly by Citigroup Global Markets Realty Corp. (with respect to the
    non-controlling note A-2-1 in the amount of $20,000,000) and Cantor Commercial Real Estate Lending, L.P. (with respect to
    the controlling note A-1-1 in the amount of $20,000,000).  The Marriott Savannah Riverfront Loan is part of the
    $73,500,000 Marriott Savannah Riverfront Loan Combination, which is collectively evidenced by six pari passu notes. The related
    companion loans, which are evidenced by the non-controlling notes A-1-2 and A-3 (currently held by Cantor Commercial Real
    Estate Lending, L.P.) and the non-controlling notes A-2-2 and A-4 (currently held by Citigroup Global Markets Realty Corp.)
    and have an aggregate outstanding principal balance as of the Cut-Off Date of $33,500,000, are expected to be contributed
    to one or more future commercial mortgage securitization transactions. Cut-Off Date LTV Ratio, LTV Ratio at Maturity, Underwritten
    NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations
    are based on the aggregate Cut-Off Date Balance of $73,500,000.
	(6)	The
    Cut-Off Date Balance of $17,150,000 represents the controlling note A-1 of a $31,000,000 loan combination evidenced by two
    pari passu notes. The companion loan, which is evidenced by the non-controlling note A-2 and has an aggregate principal balance
    of $13,850,000 as of the Cut-Off Date, is expected to be contributed to one or more future securitization transactions. Cut-Off
    Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten Net Operating Income, Debt Yield
    on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-Off Date Balance of $31,000,000.
	(7)	The
    Cut-Off Date Balance of $12,000,000 represents the non-controlling note A-2-2-1 of a $93,000,000 loan combination evidenced
    by four pari passu notes. The companion loan, which is evidenced by notes A-1, A-2-1, and A-2-2-2, have an aggregate principal
    balance of $81,000,000 as of the Cut-Off Date. The controlling note A-1 ($50,000,000) was contributed to the CGCMT 2016-GC36
    securitization transaction. The non-controlling note A-2-1 ($20,000,000) was contributed to the CGCMT 2016-GC37 securitization
    transaction.  The non-controlling note A-2-2-2 ($11,000,000) is expected to be contributed to one or more future
    securitization transactions. Cut-Off Date LTV Ratio, LTV Ratio at Maturity, Underwritten NCF DSCR, Debt Yield on Underwritten
    Net Operating Income, Debt Yield on Underwritten Net Cash Flow and Loan Per Unit calculations are based on the aggregate Cut-Off
    Date Balance of $93,000,000.

 

     

    

 

EXHIBIT B

MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

 

		(1)	Whole Loan; Ownership of Mortgage Loans. Except with respect to a Mortgage Loan that is
part of a Loan Combination, each Mortgage Loan is a whole loan and not a participation interest in a Mortgage Loan. Each Mortgage
Loan that is part of a Loan Combination is a senior or pari passu portion of a whole loan evidenced by a senior or pari
passu note. At the time of the sale, transfer and assignment to Depositor, no Mortgage Note or Mortgage was subject to any
assignment (other than assignments to the Seller), participation or pledge, and the Seller had good title to, and was the sole
owner of, each Mortgage Loan free and clear of any and all liens, charges, pledges, encumbrances, participations, any other ownership
interests on, in or to such Mortgage Loan other than any servicing rights appointment or similar agreement, any Outside Servicing
Agreement with respect to an Outside Serviced Mortgage Loan and rights of the holder of a related Companion Loan pursuant to a
Co-Lender Agreement. The Seller has full right and authority to sell, assign and transfer each Mortgage Loan, and the assignment
to Depositor constitutes a legal, valid and binding assignment of such Mortgage Loan free and clear of any and all liens, pledges,
charges or security interests of any nature encumbering such Mortgage Loan other than the rights of the holder of a related Companion
Loan pursuant to a Co-Lender Agreement.

 

		(2)	Loan Document Status. Each related Mortgage Note, Mortgage, Assignment of Leases (if a separate
instrument), guaranty and other agreement executed by or on behalf of the related Mortgagor, guarantor or other obligor in connection
with such Mortgage Loan is the legal, valid and binding obligation of the related Mortgagor, guarantor or other obligor (subject
to any non-recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency or market
value limit deficiency legislation), as applicable, and is enforceable in accordance with its terms, except (i) as such enforcement
may be limited by (a) bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally and (b) general principles of equity (regardless of whether such enforcement
is considered in a proceeding in equity or at law) and (ii) that certain provisions in such Loan Documents (including,
without limitation, provisions requiring the payment of default interest, late fees or prepayment/yield maintenance fees, charges
and/or premiums) are, or may be, further limited or rendered unenforceable by or under applicable law, but (subject to the limitations
set forth in clause (i) above) such limitations or unenforceability will not render such Loan Documents invalid as a whole or materially
interfere with the Mortgagee’s realization of the principal benefits and/or security provided thereby (clauses (i) and (ii)
collectively, the “Standard Qualifications”).

 

Except as set forth
in the immediately preceding sentence, there is no valid offset, defense, counterclaim or right of rescission available to the
related Mortgagor with respect to any of the related Mortgage Notes, Mortgages or other Loan Documents, including, without limitation,
any such valid offset, defense, counterclaim or right based

 

    B-1 

     

    

 

on intentional fraud by the Seller in connection with the origination
of the Mortgage Loan, that would deny the Mortgagee the principal benefits intended to be provided by the Mortgage Note, Mortgage
or other Loan Documents.

 

		(3)	Mortgage Provisions. The Loan Documents for each Mortgage Loan contain provisions that render
the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal
benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, nonjudicial foreclosure
subject to the limitations set forth in the Standard Qualifications.

 

		(4)	Mortgage Status; Waivers and Modifications. Since origination and except by written instruments
set forth in the related Mortgage File (a) the material terms of such Mortgage, Mortgage Note, Mortgage Loan guaranty, and related
Loan Documents have not been waived, impaired, modified, altered, satisfied, canceled, subordinated or rescinded in any respect
which materially interferes with the security intended to be provided by such Mortgage; (b) no related Mortgaged Property or any
portion thereof has been released from the lien of the related Mortgage in any manner which materially interferes with the security
intended to be provided by such Mortgage or the use or operation of the remaining portion of such Mortgaged Property; and (c) neither
the related Mortgagor nor the related guarantor has been released from its material obligations under the Mortgage Loan.

 

		(5)	Lien; Valid Assignment. Subject to the Standard Qualifications, each assignment of Mortgage
and assignment of Assignment of Leases to the Trust Fund constitutes a legal, valid and binding assignment to the Trust Fund. Each
related Mortgage and Assignment of Leases is freely assignable without the consent of the related Mortgagor. Each related Mortgage
is a legal, valid and enforceable first lien on the related Mortgagor’s fee (or if identified on the Mortgage Loan Schedule,
leasehold) interest in the Mortgaged Property in the principal amount of such Mortgage Loan or allocated loan amount (subject only
to Permitted Encumbrances (as defined below) and the exceptions to paragraph (6) set forth on Exhibit C (each such
exception, a “Title Exception”)), except as the enforcement thereof may be limited by the Standard Qualifications.
Such Mortgaged Property (subject to and excepting Permitted Encumbrances and the Title Exceptions) as of origination was, and as
of the Cut-Off Date, to the Seller’s knowledge, is free and clear of any recorded mechanics’ liens, recorded materialmen’s
liens and other recorded encumbrances which are prior to or equal with the lien of the related Mortgage, except those which are
bonded over, escrowed for or insured against by a lender’s title insurance policy (as described below), and, to the Seller’s
knowledge and subject to the rights of tenants (as tenants only) (subject to and excepting Permitted Encumbrances and the Title
Exceptions), no rights exist which under law could give rise to any such lien or encumbrance that would be prior to or equal with
the lien of the related Mortgage, except those which are bonded over, escrowed for or insured against by a lender’s title
insurance policy (as described below). Notwithstanding anything herein to the contrary, no representation is made as to the perfection
of any security interest in rents or other personal property to the extent that possession or control of such items or actions
other than the filing of Uniform Commercial Code financing statements is required in order to effect such perfection.

 

    B-2 

     

    

 

		(6)	Permitted Liens; Title Insurance. Each Mortgaged Property securing a Mortgage Loan is covered
by an American Land Title Association loan title insurance policy or a comparable form of loan title insurance policy approved
for use in the applicable jurisdiction (or, if such policy is yet to be issued, by a pro forma policy, a preliminary title policy
with escrow instructions or a “marked up” commitment, in each case binding on the title insurer) (the “Title
Policy”) in the original principal amount of such Mortgage Loan (or with respect to a Mortgage Loan secured by multiple
properties, an amount equal to at least the allocated loan amount with respect to the Title Policy for each such property) after
all advances of principal (including any advances held in escrow or reserves), that insures for the benefit of the owner of the
indebtedness secured by the Mortgage, the first priority lien of the Mortgage, which lien is subject only to (a) the lien
of current real property taxes, water charges, sewer rents and assessments due and payable but not yet delinquent; (b) covenants,
conditions and restrictions, rights of way, easements and other matters of public record; (c) the exceptions (general and specific)
and exclusions set forth in such Title Policy; (d) other matters to which like properties are commonly subject; (e) the rights
of tenants (as tenants only) under leases (including subleases) pertaining to the related Mortgaged Property and condominium declarations;
(f) if the related Mortgage Loan constitutes a Cross-Collateralized Mortgage Loan, the lien of the Mortgage for another Mortgage
Loan contained in the same Cross-Collateralized Group; and (g) if the related Mortgage Loan is part of a Loan Combination, the
rights of the holder(s) of the related Companion Loan(s) pursuant to the related Co-Lender Agreement; provided that none of items
(a) through (g), individually or in the aggregate, materially and adversely interferes with the value or current use of the Mortgaged
Property or the security intended to be provided by such Mortgage or the Mortgagor’s ability to pay its obligations when
they become due (collectively, the “Permitted Encumbrances”). Except as contemplated by clauses (f) and (g)
of the preceding sentence, none of the Permitted Encumbrances are mortgage liens that are senior to or coordinate and co-equal
with the lien of the related Mortgage. Such Title Policy (or, if it has yet to be issued, the coverage to be provided thereby)
is in full force and effect, all premiums thereon have been paid and no claims have been made by the Seller thereunder and no claims
have been paid thereunder. Neither the Seller, nor to the Seller’s knowledge, any other holder of the Mortgage Loan, has
done, by act or omission, anything that would materially impair the coverage under such Title Policy.

 

		(7)	Junior Liens. It being understood that B notes secured by the same Mortgage as a Mortgage
Loan are not subordinate mortgages or junior liens, except for any Mortgage Loan that is cross-collateralized and cross-defaulted
with another Mortgage Loan, there are no subordinate mortgages or junior liens securing the payment of money encumbering the related
Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ and materialmen’s
liens (which are the subject of the representation in paragraph (5) above), and equipment and other personal property financing).
Except as set forth on Exhibit B-30-1, the Seller has no knowledge of any mezzanine debt secured directly by interests in
the related Mortgagor.

 

		(8)	Assignment of Leases and Rents. There exists as part of the related Mortgage File an Assignment
of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and
the Title Exceptions, each related 

 

    B-3 

     

    

 

Assignment
of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents
and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain
rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related
leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related
Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is
permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents
or for rents to be paid directly to the Mortgagee.

 

		(9)	UCC Filings. If the related Mortgaged Property is operated as a hospitality property, the
Seller has filed and/or recorded or caused to be filed and/or recorded (or, if not filed and/or recorded, submitted in proper form
for filing and/or recording), UCC financing statements in the appropriate public filing and/or recording offices necessary at the
time of the origination of the Mortgage Loan to perfect a valid security interest in all items of physical personal property reasonably
necessary to operate such Mortgaged Property owned by such Mortgagor and located on the related Mortgaged Property (other than
any non-material personal property, any personal property subject to a purchase money security interest, a sale and leaseback financing
arrangement as permitted under the terms of the related Loan Documents or any other personal property leases applicable to such
personal property), to the extent perfection may be effected pursuant to applicable law by recording or filing, as the case may
be. Subject to the Standard Qualifications, each related Mortgage (or equivalent document) creates a valid and enforceable lien
and security interest on the items of personalty described above. No representation is made as to the perfection of any security
interest in rents or other personal property to the extent that possession or control of such items or actions other than the filing
of UCC financing statements are required in order to effect such perfection.

 

		(10)	Condition of Property. The Seller or the originator of the Mortgage Loan inspected or caused
to be inspected each related Mortgaged Property within six months of origination of the Mortgage Loan and within thirteen months
of the Cut-Off Date.

 

An engineering report
or property condition assessment was prepared in connection with the origination of each Mortgage Loan no more than thirteen months
prior to the Cut-Off Date. To the Seller’s knowledge, based solely upon due diligence customarily performed in connection
with the origination of comparable mortgage loans, as of the Closing Date, each related Mortgaged Property was free and clear of
any material damage (other than deferred maintenance for which escrows were established at origination) that would affect materially
and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan.

 

		(11)	Taxes and Assessments. All taxes, governmental assessments and other outstanding governmental
charges (including, without limitation, water and sewage charges), or installments thereof, which could be a lien on the related
Mortgaged Property that would be of equal or superior priority to the lien of the Mortgage and that prior to the Cut-Off Date have
become delinquent in respect of each related Mortgaged Property have been 

  

    B-4 

     

    

 

paid,
or an escrow of funds has been established in an amount sufficient to cover such payments and reasonably estimated interest and
penalties, if any, thereon. For purposes of this representation and warranty, real estate taxes and governmental assessments and
other outstanding governmental charges and installments thereof shall not be considered delinquent until the earlier of (a) the
date on which interest and/or penalties would first be payable thereon and (b) the date on which enforcement action is entitled
to be taken by the related taxing authority.

 

		(12)	Condemnation. As of the date of origination and to the Seller’s knowledge as of the
Cut-Off Date, there is no proceeding pending, and, to the Seller’s knowledge as of the date of origination and as of the
Cut-Off Date, there is no proceeding threatened, for the total or partial condemnation of such Mortgaged Property that would have
a material adverse effect on the value, use or operation of the Mortgaged Property.

 

		(13)	Actions Concerning Mortgage Loan. As of the date of origination and to the Seller’s
knowledge as of the Cut-Off Date, there was no pending or filed action, suit or proceeding, arbitration or governmental investigation
involving any Mortgagor, guarantor, or Mortgagor’s interest in the Mortgaged Property, an adverse outcome of which would
reasonably be expected to materially and adversely affect (a) such Mortgagor’s title to the Mortgaged Property, (b) the validity
or enforceability of the Mortgage, (c) such Mortgagor’s ability to perform under the related Mortgage Loan, (d) such guarantor’s
ability to perform under the related guaranty, (e) the principal benefit of the security intended to be provided by the Loan
Documents or (f) the current principal use of the Mortgaged Property.

 

		(14)	Escrow Deposits. All escrow deposits and payments required to be escrowed with Mortgagee
pursuant to each Mortgage Loan are in the possession, or under the control, of the Seller or its servicer, and there are no deficiencies
(subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto)
that are required to be escrowed with Mortgagee under the related Loan Documents are being conveyed by the Seller to Depositor
or its servicer.

 

		(15)	No Holdbacks. The principal amount of the Mortgage Loan stated on the Mortgage Loan Schedule
has been fully disbursed as of the Closing Date and there is no requirement for future advances thereunder (except in those cases
where the full amount of the Mortgage Loan has been disbursed but a portion thereof is being held in escrow or reserve accounts
pending the satisfaction of certain conditions relating to leasing, repairs or other matters with respect to the related Mortgaged
Property, the Mortgagor or other considerations determined by the Seller to merit such holdback).

 

		(16)	Insurance. Each related Mortgaged Property is, and is required pursuant to the related Mortgage
to be, insured by a property insurance policy providing coverage for loss in accordance with coverage found under a “special
cause of loss form” or “all risk form” that includes replacement cost valuation issued by an insurer meeting
the requirements of the related Loan Documents and having a claims-paying or financial strength rating of at least “A-:VIII”
from A.M. Best Company or “A3” (or the equivalent) from Moody’s Investors Service, Inc. or “A-” from
Standard & Poor’s Ratings Services (collectively the 

 

    B-5 

     

    

 

“Insurance Rating Requirements”), in an amount (subject
to a customary deductible) not less than the lesser of (1) the original principal balance of the Mortgage Loan and (2) the full
insurable value on a replacement cost basis of the improvements, furniture, furnishings, fixtures and equipment owned by the Mortgagor
and included in the Mortgaged Property (with no deduction for physical depreciation), but, in any event, not less than the amount
necessary or containing such endorsements as are necessary to avoid the operation of any coinsurance provisions with respect to
the related Mortgaged Property.

 

Each related Mortgaged
Property is also covered, and required to be covered pursuant to the related Loan Documents, by business interruption or rental
loss insurance which (subject to a customary deductible) covers a period of not less than 12 months (or with respect to each Mortgage
Loan on a single asset with a principal balance of $50 million or more, 18 months).

 

If any material part
of the improvements, exclusive of a parking lot, located on a Mortgaged Property is in an area identified in the Federal Register
by the Federal Emergency Management Agency as a “Special Flood Hazard Area,” the related Mortgagor is required to maintain
insurance in the maximum amount available under the National Flood Insurance Program.

 

If the Mortgaged Property
is located within 25 miles of the coast of the Gulf of Mexico or the Atlantic coast of Florida, Georgia, South Carolina or North
Carolina, the related Mortgagor is required to maintain coverage for windstorm and/or windstorm related perils and/or “named
storms” issued by an insurer meeting the Insurance Rating Requirements or endorsement covering damage from windstorm and/or
windstorm related perils and/or named storms.

 

The Mortgaged Property
is covered, and required to be covered pursuant to the related Loan Documents, by a commercial general liability insurance policy
issued by an insurer meeting the Insurance Rating Requirements including coverage for property damage, contractual damage and personal
injury (including bodily injury and death) in amounts as are generally required by prudent institutional commercial mortgage lenders,
and in any event not less than $1 million per occurrence and $2 million in the aggregate.

 

An architectural or
engineering consultant has performed an analysis of each of the Mortgaged Properties located in seismic zones 3 or 4 in order to
evaluate the structural and seismic condition of such property, for the sole purpose of assessing the scenario expected limit (“SEL”)
for the Mortgaged Property in the event of an earthquake. In such instance, the SEL was based on a 475-year return period, an exposure
period of 50 years and a 10% probability of exceedance. If the resulting report concluded that the SEL would exceed 20% of the
amount of the replacement costs of the improvements, earthquake insurance on such Mortgaged Property was obtained from an insurer
rated at least “A:VIII” by A.M. Best Company or “A3” (or the equivalent) from Moody’s Investors Service,
Inc. or “A-” by Standard & Poor’s Ratings Services in an amount not less than 100% of the SEL.

 

    B-6 

     

    

 

The Loan Documents
require insurance proceeds in respect of a property loss to be applied either (a) to the repair or restoration of all or part of
the related Mortgaged Property, with respect to all property losses in excess of 5% of the then outstanding principal amount of
the related Mortgage Loan (or related Loan Combination), the Mortgagee (or a trustee appointed by it) having the right to hold
and disburse such proceeds as the repair or restoration progresses, or (b) to the payment of the outstanding principal balance
of such Mortgage Loan together with any accrued interest thereon.

 

All premiums on all
insurance policies referred to in this section required to be paid as of the Cut-Off Date have been paid, and such insurance policies
name the Mortgagee under the Mortgage Loan and its successors and assigns as a loss payee under a mortgagee endorsement clause
or, in the case of the general liability insurance policy, as named or additional insured. Such insurance policies will inure to
the benefit of the Trustee. Each related Mortgage Loan obligates the related Mortgagor to maintain all such insurance and, at such
Mortgagor’s failure to do so, authorizes the Mortgagee to maintain such insurance at the Mortgagor’s reasonable cost
and expense and to charge such Mortgagor for related premiums. All such insurance policies (other than commercial liability policies)
require at least 10 days’ prior notice to the Mortgagee of termination or cancellation arising because of nonpayment of a
premium and at least 30 days’ prior notice to the Mortgagee of termination or cancellation (or such lesser period, not less
than 10 days, as may be required by applicable law) arising for any reason other than non-payment of a premium and no such notice
has been received by the Seller.

 

		(17)	Access; Utilities; Separate Tax Lots. Each Mortgaged Property (a) is located on or adjacent
to a public road and has direct legal access to such road, or has access via an irrevocable easement or irrevocable right of way
permitting ingress and egress to/from a public road, (b) is served by or has uninhibited access rights to public or private water
and sewer (or well and septic) and all required utilities, all of which are appropriate for the current use of the Mortgaged Property,
and (c) constitutes one or more separate tax parcels which do not include any property which is not part of the Mortgaged Property
or is subject to an endorsement under the related Title Policy insuring the Mortgaged Property, or in certain cases, an application
has been, or will be, made to the applicable governing authority for creation of separate tax lots, in which case the Mortgage
Loan requires the Mortgagor to escrow an amount sufficient to pay taxes for the existing tax parcel of which the Mortgaged Property
is a part until the separate tax lots are created.

 

		(18)	No Encroachments. To the Seller’s knowledge based solely on surveys obtained in connection
with origination and the Mortgagee’s Title Policy (or, if such policy is not yet issued, a pro forma title policy, a preliminary
title policy with escrow instructions or a “marked up” commitment) obtained in connection with the origination of each
Mortgage Loan, all material improvements that were included for the purpose of determining the appraised value of the related Mortgaged
Property at the time of the origination of such Mortgage Loan are within the boundaries of the related Mortgaged Property, except
encroachments that do not materially and adversely affect the value or
current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title Policy. No improvements
on adjoining parcels encroach onto the related Mortgaged Property except for encroachments that do not materially and adversely
affect the value 

 

    B-7 

     

    

 

or current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title
Policy. No improvements encroach upon any easements except for encroachments the removal of which would not materially and adversely
affect the value or current use of such Mortgaged Property or for which insurance or endorsements were obtained under the Title
Policy.

 

		(19)	No Contingent Interest or Equity Participation. No Mortgage Loan has a shared appreciation
feature, any other contingent interest feature or a negative amortization feature or an equity participation by the Seller (except
that any ARD Mortgage Loan may provide for the accrual of the portion of interest in excess of the rate in effect prior to its
related Anticipated Repayment Date).

 

		(20)	REMIC. The Mortgage Loan is a “qualified mortgage” within the meaning of Section
860G(a)(3) of the Code (but determined without regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats certain
defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor
at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is
secured by an interest in real property (including buildings and structural components thereof, but excluding personal property)
having a fair market value (i) at the date the Mortgage Loan (or related Loan Combination) was originated at least equal to 80%
of the adjusted issue price of the Mortgage Loan (or related Loan Combination) on such date or (ii) at the Closing Date at least
equal to 80% of the adjusted issue price of the Mortgage Loan (or related Loan Combination) on such date, provided that for purposes
hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property
interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan;
or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property
which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement
within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)). If the Mortgage Loan was “significantly modified”
prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a
result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause
(B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause
(B)(a)(ii), including the proviso thereto. Any prepayment premium and yield maintenance charges applicable to the Mortgage Loan
constitute “customary prepayment penalties” within the meaning of Treasury Regulations Section 1.860G-1(b)(2). All
terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.

 

		(21)	Compliance with Usury Laws. The Mortgage Rate (exclusive of any default interest, late charges,
yield maintenance charge, or prepayment premiums) of such Mortgage Loan complied as of the date of origination with, or was exempt
from, applicable state or federal laws, regulations and other requirements pertaining to usury.

 

    B-8 

     

    

 

		(22)	Authorized to do Business. To the extent required under applicable law, as of the Cut-Off
Date or as of the date that such entity held the Mortgage Note, each holder of the Mortgage Note was authorized to originate, acquire
and/or hold (as applicable) the Mortgage Note in the jurisdiction in which each related Mortgaged Property is located, or the failure
to be so authorized does not materially and adversely affect the enforceability of such Mortgage Loan by the Trust.

 

		(23)	Trustee under Deed of Trust. With respect to each Mortgage which is a deed of trust, as
of the date of origination and, to the Seller’s knowledge, as of the Closing Date, a trustee, duly qualified under applicable
law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with the Mortgage
and applicable law or may be substituted in accordance with the Mortgage and applicable law by the related Mortgagee.

 

		(24)	Local Law Compliance. To the Seller’s knowledge, based upon any of a letter from any
governmental authorities, a legal opinion, an architect’s letter, a zoning consultant’s report, an endorsement to the
related Title Policy, a survey or other affirmative investigation of local law compliance consistent with the investigation conducted
by the Seller for similar commercial and multifamily mortgage loans intended for securitization, there are no material violations
of applicable zoning ordinances, building codes and land laws (collectively “Zoning Regulations”) with respect
to the improvements located on or forming part of each Mortgaged Property securing a Mortgage Loan as of the date of origination
of such Mortgage Loan (or related Loan Combination, as applicable) or as of the Cut-Off Date, other than those which (i) are
insured by the Title Policy or a law and ordinance insurance policy or (ii) would not have a material adverse effect on the
value, operation or net operating income of the Mortgaged Property. The terms of the Loan Documents require the Mortgagor to comply
in all material respects with all applicable governmental regulations, zoning and building laws.

 

		(25)	Licenses and Permits. Each Mortgagor covenants in the Loan Documents that it shall keep
all material licenses, permits and applicable governmental authorizations necessary for its operation of the Mortgaged Property
in full force and effect, and to the Seller’s knowledge based upon any of a letter from any government authorities or other
affirmative investigation of local law compliance consistent with the investigation conducted by the Seller for similar commercial
and multifamily mortgage loans intended for securitization, all such material licenses, permits and applicable governmental authorizations
are in effect. The Mortgage Loan requires the related Mortgagor to be qualified to do business in the jurisdiction in which the
related Mortgaged Property is located.

 

		(26)	Recourse Obligations. The Loan Documents for each Mortgage Loan provide that such Mortgage
Loan (a) becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity distinct from
the Mortgagor (but may be affiliated with the Mortgagor) that has assets other than equity in the related Mortgaged Property that
are not de minimis) in any of the following events: (i) if any voluntary petition for bankruptcy, insolvency, dissolution or liquidation
pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by the Mortgagor; (ii) the Mortgagor or 

 

    B-9 

     

    

 

guarantor
shall have colluded with (or, alternatively, solicited or caused to be solicited) other creditors to cause an involuntary bankruptcy
filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or equity interests in Mortgagor
made in violation of the Loan Documents; and (b) contains provisions providing for recourse against the Mortgagor and guarantor
(which is a natural person or persons, or an entity distinct from the Mortgagor (but may be affiliated with the Mortgagor) that
has assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages sustained by reason
of Mortgagor’s (i) misappropriation of rents after the occurrence of an event of default under the Mortgage Loan; (ii) misappropriation
of (A) insurance proceeds or condemnation awards or (B) security deposits or, alternatively, the failure of any security
deposits to be delivered to Mortgagee upon foreclosure or action in lieu thereof (except to the extent applied in accordance with
leases prior to a Mortgage Loan event of default); (iii) fraud or intentional material misrepresentation; (iv) breaches of
the environmental covenants in the Loan Documents; or (v) commission of intentional material physical waste at the Mortgaged Property
(but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such
waste).

 

		(27)	Mortgage Releases. The terms of the related Mortgage or related Loan Documents do not provide
for release of any material portion of the Mortgaged Property from the lien of the Mortgage except (a) a partial release, accompanied
by principal repayment, of not less than a specified percentage at least equal to the lesser of (i) 110% of the related allocated
loan amount of such portion of the Mortgaged Property and (ii) the outstanding principal balance of the Mortgage Loan, (b) upon
payment in full of such Mortgage Loan, (c) upon a Defeasance defined in (32) below, (d) releases of out-parcels that are unimproved
or other portions of the Mortgaged Property which will not have a material adverse effect on the underwritten value of the Mortgaged
Property and which were not afforded any material value in the appraisal obtained at the origination of the Mortgage Loan and are
not necessary for physical access to the Mortgaged Property or compliance with zoning requirements, or (e) as required pursuant
to an order of condemnation or taking by a State or any political subdivision or authority thereof. With respect to any partial
release under the preceding clauses (a) or (d), either: (x) such release of collateral (i) would not constitute a “significant
modification” of the subject Mortgage Loan within the meaning of Treasury Regulations Section 1.860G-2(b)(2) and (ii) would
not cause the subject Mortgage Loan to fail to be a “qualified mortgage” within the meaning of Section 860G(a)(3)(A)
of the Code; or (y) the Mortgagee or servicer can, in accordance with the related Loan Documents, condition such release of collateral
on the related Mortgagor’s delivery of an opinion of tax counsel to the effect specified in the immediately preceding clause
(x). For purposes of the preceding clause (x), for all Mortgage Loans originated after December 6, 2010, if the fair market
value of the real property constituting such Mortgaged Property (reduced by (1) the amount of any lien on the real property that
is senior to the Mortgage Loan and (2) a proportionate amount of any lien on the real property that is in parity with the Mortgage
Loan) after the release is not equal to at least 80% of the principal balance of the Mortgage Loan (or related Loan Combination)
outstanding after the release, the Mortgagor is required to make a payment of principal in an amount not less than the amount required
by the REMIC Provisions.

 

    B-10 

     

    

 

With respect to any
partial release under the preceding clause (e), for all Mortgage Loans originated after December 6, 2010, the Mortgagor can
be required to pay down the principal balance of the Mortgage Loan (or related Loan Combination) in an amount not less than the
amount required by the REMIC Provisions and, to such extent, such amount may not be required to be applied to the restoration of
the Mortgaged Property or released to the Mortgagor, if, immediately after the release of such portion of the Mortgaged Property
from the lien of the Mortgage (but taking into account the planned restoration) the fair market value of the real property constituting
the remaining Mortgaged Property (reduced by (1) the amount of any lien on the real property that is senior to the Mortgage Loan
and (2) a proportionate amount of any lien on the real property that is in parity with the Mortgage Loan) is not equal to at least
80% of the remaining principal balance of the Mortgage Loan (or related Loan Combination).

 

No Mortgage Loan that
is secured by more than one Mortgaged Property or that is cross-collateralized with another Mortgage Loan permits the release of
cross-collateralization of the related Mortgaged Properties or a portion thereof, including due to partial condemnation, other
than in compliance with the REMIC Provisions.

 

		(28)	Financial Reporting and Rent Rolls. The Loan Documents for each Mortgage Loan require the
Mortgagor to provide the owner or holder of the Mortgage with quarterly (other than for single-tenant properties) and annual operating
statements, and quarterly (other than for single-tenant properties) rent rolls for properties that have leases contributing more
than 5% of the in-place base rent and annual financial statements, which annual financial statements with respect to each Mortgage
Loan with more than one Mortgagor are in the form of an annual combined balance sheet of the Mortgagor entities (and no other entities),
together with the related combined statements of operations, members’ capital and cash flows, including a combining balance
sheet and statement of income for the Mortgaged Properties on a combined basis.

 

		(29)	Acts of Terrorism Exclusion.
With respect to each Mortgage Loan over $20 million, the related special-form all-risk insurance policy and business interruption
policy (issued by an insurer meeting the Insurance Rating Requirements) do not specifically exclude Acts of Terrorism, as defined
in the Terrorism Risk Insurance Act of 2002, as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2007, and
as amended by the Terrorism Risk Insurance Program Reauthorization Act of 2015 (collectively referred to as “TRIA”),
from coverage, or if such coverage is excluded, it is covered by a separate terrorism insurance policy. With respect to each other
Mortgage Loan, the related special all-risk insurance policy and business interruption policy (issued by an insurer meeting the
Insurance Rating Requirements) did not, as of the date of origination of the Mortgage Loan, and, to the Seller’s knowledge,
do not, as of the Cut-Off Date, specifically exclude Acts of Terrorism, as defined in TRIA, from coverage, or if such coverage
is excluded, it is covered by a separate terrorism insurance policy. With respect to each Mortgage Loan, the related Loan Documents
do not expressly waive or prohibit the Mortgagee from requiring coverage for Acts of Terrorism, as defined in TRIA, or damages
related thereto; provided, however, that if TRIA or a similar or subsequent statute is not in effect, then, provided
that terrorism insurance is commercially available, the Mortgagor under each Mortgage Loan is required to carry terrorism insurance,
but in such event the Mortgagor

 

    B-11 

     

    

 

shall
not be required to spend more than the Terrorism Cap Amount on terrorism insurance coverage, and if the cost of terrorism insurance
exceeds the Terrorism Cap Amount, the Mortgagor is required to purchase the maximum amount of terrorism insurance available with
funds equal to the Terrorism Cap Amount. The “Terrorism Cap Amount” is the specified percentage (which is at
least equal to 200%) of the amount of the insurance premium that is payable at such time in respect of the property and business
interruption/rental loss insurance required under the related Loan Documents (without giving effect to the cost of terrorism and
earthquake components of such casualty and business interruption/rental loss insurance).

 

		(30)	Due on Sale or Encumbrance. Subject to specific exceptions set forth below, each Mortgage
Loan contains a “due on sale” or other such provision for the acceleration of the payment of the unpaid principal balance
of such Mortgage Loan if, without the consent of the holder of the Mortgage (which consent, in some cases, may not be unreasonably
withheld) and/or complying with the requirements of the related Loan Documents (which provide for transfers without the consent
of the Mortgagee which are customarily acceptable to prudent commercial and multifamily mortgage lending institutions lending on
the security of property comparable to the related Mortgaged Property, including, without limitation, transfers of worn-out or
obsolete furnishings, fixtures, or equipment promptly replaced with property of equivalent value and functionality and transfers
by leases entered into in accordance with the Loan Documents), (a) the related Mortgaged Property, or any equity interest of greater
than 50% in the related Mortgagor, is directly or indirectly pledged, transferred or sold, other than as related to (i) family
and estate planning transfers or transfers upon death or legal incapacity, (ii) transfers to certain affiliates as defined in the
related Loan Documents, (iii) transfers of less than, or other than, a controlling interest in the related Mortgagor, (iv) transfers
to another holder of direct or indirect equity in the Mortgagor, a specific Person designated in the related Loan Documents or
a Person satisfying specific criteria identified in the related Loan Documents, such as a qualified equityholder, (v) transfers
of stock or similar equity units in publicly traded companies or (vi) a substitution or release of collateral within the parameters
of paragraphs (27) and (32) of this Exhibit B or the exceptions thereto set forth on Exhibit C, or (vii) as
set forth on Exhibit B-30-1 by reason of any mezzanine debt that existed at the origination of the related Mortgage Loan,
or future permitted mezzanine debt as set forth on Exhibit B-30-2 or (b) the related Mortgaged Property is encumbered with
a subordinate lien or security interest against the related Mortgaged Property, other than (i) any Companion Loan of any Mortgage
Loan or any subordinate debt that existed at origination and is permitted under the related Loan Documents, (ii) purchase money
security interests (iii) any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, as
set forth on Exhibit B-30-3 or (iv) Permitted Encumbrances. The Mortgage or other Loan Documents provide that to the
extent any Rating Agency fees are incurred in connection with the review of and consent to any transfer or encumbrance, the Mortgagor
is responsible for such payment along with all other reasonable out-of-pocket fees and expenses incurred by the Mortgagee relative
to such transfer or encumbrance.

 

		(31)	Single-Purpose Entity. Each
Mortgage Loan requires the Mortgagor to be a Single-Purpose Entity for at least as long as the Mortgage Loan is outstanding. Both
the Loan

 

    B-12 

     

    

 

Documents
and the organizational documents of the Mortgagor with respect to each Mortgage Loan with a Cut-Off Date Balance in excess of
$5 million provide that the Mortgagor is a Single-Purpose Entity, and each Mortgage Loan with a Cut-Off Date Balance of $20 million
or more has a counsel’s opinion regarding non-consolidation of the Mortgagor. For this purpose, a “Single-Purpose
Entity” shall mean an entity, other than an individual, whose organizational documents (or if the Mortgage Loan has
a Cut-Off Date Balance equal to $5 million or less, its organizational documents or the related Loan Documents) provide substantially
to the effect that it was formed or organized solely for the purpose of owning and operating one or more of the Mortgaged Properties
securing the Mortgage Loans and prohibit it from engaging in any business unrelated to such Mortgaged Property or Properties,
and whose organizational documents further provide, or which entity represented in the related Loan Documents, substantially to
the effect that it does not have any assets other than those related to its interest in and operation of such Mortgaged Property
or Properties, or any indebtedness other than as permitted by the related Mortgage(s) or the other related Loan Documents, that
it has its own books and records and accounts separate and apart from those of any other person (other than a Mortgagor for a
Mortgage Loan that is cross-collateralized and cross-defaulted with the related Mortgage Loan), and that it holds itself out as
a legal entity, separate and apart from any other person or entity.

 

		(32)	Defeasance. With respect to any Mortgage Loan that, pursuant to the Loan Documents, can
be defeased (a “Defeasance”), (i) the Loan Documents provide for defeasance as a unilateral right of the Mortgagor,
subject to satisfaction of conditions specified in the Loan Documents; (ii) the Mortgage Loan cannot be defeased within two years
after the Closing Date; (iii) the Mortgagor is permitted to pledge only United States “government securities” within
the meaning of Treasury Regulations Section 1.860G-2(a)(8)(ii), the revenues from which will, in the case of a full Defeasance,
be sufficient to make all scheduled payments under the Mortgage Loan when due, including the entire remaining principal balance
on the maturity date (or on or after the first date on which payment may be made without payment of a yield maintenance charge
or prepayment penalty) or, if the Mortgage Loan is an ARD Mortgage Loan, the entire principal balance outstanding on the related
Anticipated Repayment Date (or on or after the first date on which payment may be made without payment of a yield maintenance charge
or prepayment penalty), and if the Mortgage Loan permits partial releases of real property in connection with partial defeasance,
the revenues from the collateral will be sufficient to pay all such scheduled payments calculated on a principal amount equal to
a specified percentage at least equal to the lesser of (A) 110% of the allocated loan amount for the real property to be released
and (B) the outstanding principal balance of the Mortgage Loan; (iv) the Mortgagor is required to provide a certification
from an independent certified public accountant that the collateral is sufficient to make all scheduled payments under the Mortgage
Note as set forth in (iii) above; (v) if the Mortgagor would continue to own assets in addition to the defeasance collateral, the
portion of the Mortgage Loan secured by defeasance collateral is required to be assumed (or the Mortgagee may require such assumption)
by a Single-Purpose Entity; (vi) the Mortgagor is required to provide an opinion of counsel that the Mortgagee has a perfected
security interest in such collateral prior to any other claim or interest; and (vii) the Mortgagor is required to pay all rating
agency fees associated with defeasance (if rating confirmation is a specific condition 

 

    B-13 

     

    

 

precedent
thereto) and all other reasonable out-of-pocket expenses associated with defeasance, including, but not limited to, accountant’s
fees and opinions of counsel.

 

		(33)	Fixed Interest Rates. Each Mortgage Loan bears interest at a rate that remains fixed throughout
the remaining term of such Mortgage Loan, except in the case of ARD Mortgage Loans and in situations where default interest is
imposed.

 

		(34)	Ground Leases. For purposes of this Exhibit B, a “Ground Lease” shall
mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms
of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such
lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary
interest of the ground lessor as fee owner and does not include industrial development agency (IDA) or similar leases for purposes
of conferring a tax abatement or other benefit.

 

With respect to any
Mortgage Loan where the Mortgage Loan is secured by a leasehold estate under a Ground Lease in whole or in part, and the related
Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the
Ground Lease and any estoppel or other agreement received from the ground lessor in favor of the Seller, its successors and assigns,
the Seller represents and warrants that:

 

		(a)	The Ground Lease or a memorandum regarding such Ground
Lease has been duly recorded or submitted for recordation in a form that is acceptable for recording in the applicable jurisdiction.
The Ground Lease or an estoppel or other agreement received from the ground lessor permits the interest of the lessee to be encumbered
by the related Mortgage and does not restrict the use of the related Mortgaged Property by such lessee, its successors or assigns
in a manner that would materially adversely affect the security provided by the related Mortgage. No material change in the terms
of the Ground Lease had occurred since the origination of the Mortgage Loan, except as reflected in any written instruments which
are included in the related Mortgage File;

 

		(b)	The lessor under such Ground Lease has agreed in a writing
included in the related Mortgage File (or in such Ground Lease) that the Ground Lease may not be amended or modified, or canceled
or terminated by agreement of lessor and lessee, without the prior written consent of the Mortgagee;

 

		(c)	The Ground Lease has an original term (or an original
term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by either
Mortgagor or the Mortgagee) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan, or 10
years past the stated maturity if such Mortgage Loan fully amortizes by the stated maturity (or with respect to a Mortgage Loan
that accrues on an Actual/360 Basis, substantially amortizes);

 

    B-14 

     

    

 

		(d)	The Ground Lease either (i) is not subject to any liens
or encumbrances superior to, or of equal priority with, the Mortgage, except for the related fee interest of the ground lessor
and the Permitted Encumbrances, or (ii)  is subject to a subordination, non-disturbance and attornment agreement to which
the Mortgagee on the lessor’s fee interest in the Mortgaged Property is subject;

 

		(e)	The Ground Lease does not place commercially unreasonable
restrictions on the identity of the Mortgagee and the Ground Lease is assignable to the holder of the Mortgage Loan and its successors
and assigns without the consent of the lessor thereunder (provided that proper notice is delivered to the extent required in accordance
with the Ground Lease), and in the event it is so assigned, it is further assignable by the holder of the Mortgage Loan and its
successors and assigns without the consent of (but with prior notice to) the lessor;

 

		(f)	The Seller has not received any written notice of material
default under or notice of termination of such Ground Lease. To the Seller’s knowledge, there is no material default under
such Ground Lease and no condition that, but for the passage of time or giving of notice, would result in a material default under
the terms of such Ground Lease and to the Seller’s knowledge, such Ground Lease is in full force and effect as of the Closing
Date;

 

		(g)	The Ground Lease or ancillary agreement between the
lessor and the lessee requires the lessor to give to the Mortgagee written notice of any default, and provides that no notice
of default or termination is effective against the Mortgagee unless such notice is given to the Mortgagee;

 

		(h)	The Mortgagee is permitted a reasonable opportunity
(including, where necessary, sufficient time to gain possession of the interest of the lessee under the Ground Lease through legal
proceedings) to cure any default under the Ground Lease which is curable after the Mortgagee’s receipt of notice of any
default before the lessor may terminate the Ground Lease;

 

		(i)	The Ground Lease does not impose any restrictions on
subletting that would be viewed as commercially unreasonable by a prudent commercial mortgage lender;

 

		(j)	Under the terms of the Ground Lease, an estoppel or
other agreement received from the ground lessor and the related Mortgage (taken together), any related insurance proceeds or the
portion of the condemnation award allocable to the ground lessee’s interest (other than (i) de minimis amounts for minor
casualties or (ii) in respect of a total or substantially total loss or taking as addressed in subpart (k)) will be applied either
to the repair or to restoration of all or part of the related Mortgaged Property with (so long as such proceeds are in excess
of the threshold amount specified in the related Loan Documents) the Mortgagee or a trustee appointed by it having the right to
hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding principal balance of
the Mortgage Loan, together with any accrued interest;

 

    B-15 

     

    

 

		(k)	In the case of a total or substantially total taking
or loss, under the terms of the Ground Lease, an estoppel or other agreement and the related Mortgage (taken together), any related
insurance proceeds, or portion of the condemnation award allocable to the ground lessee’s interest in respect of a total
or substantially total loss or taking of the related Mortgaged Property to the extent not applied to restoration, will be applied
first to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest; and

 

		(l)	Provided that the Mortgagee cures any defaults which
are susceptible to being cured, the ground lessor has agreed to enter into a new lease with the Mortgagee upon termination of
the Ground Lease for any reason, including rejection of the Ground Lease in a bankruptcy proceeding.

 

		(35)	Servicing. The servicing and collection practices used by the Seller with respect to the
Mortgage Loan have been, in all respects, legal and have met customary industry standards for servicing of commercial loans for
conduit loan programs.

 

		(36)	Origination and Underwriting. The origination practices of the Seller (or the related originator
if the Seller was not the originator) with respect to each Mortgage Loan have been, in all material respects, legal and as of the
date of its origination, such Mortgage Loan (or the related Loan Combination, as applicable) and the origination thereof complied
in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the origination
of such Mortgage Loan; provided that such representation and warranty does not address or otherwise cover any matters with respect
to federal, state or local law otherwise covered in this Exhibit B.

 

		(37)	No Material Default; Payment Record. No Mortgage Loan has been more than 30 days delinquent,
without giving effect to any grace or cure period, in making required debt service payments since origination and, as of the Cut-Off
Date, no Mortgage Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments
as of the Closing Date. To the Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration
existing under the related Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage
of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or
event of acceleration, which default, breach, violation or event of acceleration, in the case of either (a) or (b), materially
and adversely affects the value of the Mortgage Loan or the value, use or operation of the related Mortgaged Property, provided,
however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically
pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in this Exhibit B
(including, but not limited to, the prior sentence). No person other than the holder of such Mortgage Loan may declare any event
of default under the Mortgage Loan or accelerate any indebtedness under the Loan Documents.

 

		(38)	Bankruptcy. As of the date of origination of the related Mortgage Loan and to the Seller’s
knowledge as of the Cut-Off Date, neither the Mortgaged Property (other than 

 

    B-16 

     

    

 

any
tenants of such Mortgaged Property), nor any portion thereof, is the subject of, and no Mortgagor, guarantor or tenant occupying
a single-tenant property is a debtor in a state or federal bankruptcy, insolvency or similar proceeding.

 

		(39)	Organization of Mortgagor. With respect to each Mortgage Loan, in reliance on certified
copies of the organizational documents of the Mortgagor delivered by the Mortgagor in connection with the origination of such Mortgage
Loan (or related Loan Combination, as applicable), the Mortgagor is an entity organized under the laws of a state of the United
States of America, the District of Columbia or the Commonwealth of Puerto Rico. Except with respect to any Mortgage Loan that is
cross-collateralized and cross-defaulted with another Mortgage Loan, no Mortgage Loan has a Mortgagor that is an affiliate of another
Mortgagor under another Mortgage Loan.

 

		(40)	Environmental Conditions. A Phase I environmental site assessment (or update of a previous
Phase I and or Phase II site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment
(collectively, an “ESA”) meeting ASTM requirements were conducted by a reputable environmental consultant in
connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared),
and such ESA (i) did not identify the existence of recognized environmental conditions (as such term is defined in ASTM E1527-05
or its successor, an “Environmental Condition”) at the related Mortgaged Property or the need for further investigation,
or (ii) if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then
at least one of the following statements is true: (A) an amount reasonably estimated by a reputable environmental consultant
to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental
Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; (B) if the only Environmental
Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water,
the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to
be instituted by the related Mortgagor that, based on the ESA, can reasonably be expected to mitigate the identified risk; (C) the
Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior
to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental
regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental
authority as “closed” or a reputable environmental consultant has concluded that no further action is required); (D) an
environmental policy or a lender’s pollution legal liability insurance policy meeting the requirements set forth below that
covers liability for the identified circumstance or condition was obtained from an insurer rated no less than A- (or the equivalent)
by Moody’s Investors Service, Inc., Standard & Poor’s Ratings Services and/or Fitch Ratings, Inc.; (E) a party
not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party
has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor
having financial resources reasonably estimated to be adequate to address the situation is required to take action. To the Seller’s
knowledge, except as set forth in the ESA, there is no Environmental 

 

    B-17 

     

    

 

Condition
(as such term is defined in ASTM E1527-05 or its successor) at the related Mortgaged Property.

 

		(41)	Appraisal. The Mortgage File contains an appraisal of the related Mortgaged Property with
an appraisal date within six (6) months of the Mortgage Loan origination date, and within 12 months of the Closing Date. The appraisal
is signed by an appraiser who is a Member of the Appraisal Institute (“MAI”) and, to the Seller’s knowledge,
had no interest, direct or indirect, in the Mortgaged Property or the Mortgagor or in any loan made on the security thereof, and
whose compensation is not affected by the approval or disapproval of the Mortgage Loan. Each appraiser has represented in such
appraisal or in a supplemental letter that the appraisal satisfies the requirements of the “Uniform Standards of Professional
Appraisal Practice” as adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraisal contains a statement,
or is accompanied by a letter from the appraiser, to the effect that the appraisal was performed in accordance with the requirements
of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage Loan was originated.

 

		(42)	Mortgage Loan Schedule. The information pertaining to each Mortgage Loan which is set forth
in the Mortgage Loan Schedule is true and correct in all material respects as of the Cut-Off Date and contains all information
required by the Pooling and Servicing Agreement to be contained therein.

 

		(43)	Cross-Collateralization. Except with respect to a Mortgage Loan that is part of a Loan Combination,
no Mortgage Loan is cross-collateralized or cross-defaulted with any other Mortgage Loan that is outside the Mortgage Pool, except
as set forth on Exhibit B-30-3.

 

		(44)	Advance of Funds by the Seller. After origination, no advance of funds has been made by
the Seller to the related Mortgagor other than in accordance with the Loan Documents, and, to the Seller’s knowledge, no
funds have been received from any person other than the related Mortgagor or an affiliate for, or on account of, payments due on
the Mortgage Loan (other than as contemplated by the Loan Documents, such as, by way of example and not in limitation of the foregoing,
amounts paid by the tenant(s) into a Mortgagee-controlled lockbox if required or contemplated under the related lease or Loan Documents).
Neither the Seller nor any affiliate thereof has any obligation to make any capital contribution to any Mortgagor under a Mortgage
Loan, other than contributions made on or prior to the date hereof.

 

		(45)	Compliance with Anti-Money Laundering Laws. The Seller has complied in all material respects
with all applicable anti-money laundering laws and regulations, including without limitation the USA Patriot Act of 2001 with respect
to the origination of the Mortgage Loan.

 

For purposes of these representations
and warranties, “Mortgagee” means the mortgagee, grantee or beneficiary under any Mortgage, any holder of legal title
to any portion of any Mortgage Loan or, if applicable, any agent or servicer on behalf of such party.

 

    B-18 

     

    

 

For purposes of these representations
and warranties, the phrases “the Seller’s knowledge” or “the Seller’s belief” and other words
and phrases of like import mean, except where otherwise expressly set forth in these representations and warranties, the actual
state of knowledge or belief of the Seller, its officers and employees directly responsible for the underwriting, origination,
servicing or sale of the Mortgage Loans regarding the matters expressly set forth in these representations and warranties.

 

    B-19 

     

    

 

Exhibit
B-30-1

List of Mortgage Loans with Current Mezzanine Debt

 

		1.	One Harbor Point Square (Loan No. 4)

 

    B-30-1-1 

     

    

 

Exhibit B-30-2

List of Mortgage Loans with Permitted Mezzanine Debt

 

		1.	247 Bedford Avenue (Loan No. 11)

 

    B-30-2-1 

     

    

  

Exhibit B-30-3

List of Cross-Collateralized and Cross-Defaulted Mortgage Loans

 

None.

 

    B-30-3-1 

     

    

 

EXHIBIT C

EXCEPTIONS TO MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

 

	Representation	 	Mortgage Loan	 	Description of Exception
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	The Strip

(Loan No. 1)	 	The tenant IHOP has a right of first refusal to purchase the building it currently occupies if Mortgagor receives a bona fide offer from a third party to purchase such building. The rights do not apply to any sale or conveyance of the property in foreclosure or to any deed in lieu of foreclosure.
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	One Harbor Point Square

(Loan No. 4)	 	The related Mortgaged Property is subject to a recorded Environmental Land Use Restriction which prohibits disturbance of the engineered controls and demolition or construction on parts of the Mortgaged Property without first obtaining a release from the Connecticut Department of Energy & Environmental Protection. 
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	Marriott Savannah Riverfront

(Loan No. 5)	 	The franchisor, Marriott International, Inc., has a right of first refusal to purchase the Mortgaged Property in the event of a proposed transfer of the Mortgaged Property or a controlling direct or indirect interest in the Mortgagor to a competitor of the franchisor.  The right of first refusal does apply to a transfer to a competitor in connection with a foreclosure, judicial or legal process, but is subordinate to the exercise of the rights of a bona fide lender who is not a competitor as defined under the Mortgage Loan documents.  
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	Marriott Savannah Riverfront

(Loan No. 5)	 	The Mortgaged Property is subject to a recorded Land Use Restriction that prohibits (i) the use of groundwater at the Mortgaged Property and (ii) any residential uses at the Mortgaged Property.  
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	Rite Aid – ACV Portfolio

(Loan No. 36)	 	Each of the single tenants at the Mortgaged Properties in the related portfolio has a right of first refusal to purchase its respective property.  The rights do not apply to any sale or conveyance of the property in foreclosure or to any deed in lieu of foreclosure.
	 	 	 	 	 
	(6) Permitted Liens; Title Insurance	 	Walgreens Clinton

(Loan No. 49)	 	In the event the Mortgagor receives a bona fide offer to purchase the leased premises, the sole tenant has a right of first refusal to purchase the Mortgaged Property. The right of first refusal is not exercisable in connection with the transfer of the premises via foreclosure or deed-in-lieu of foreclosure.

 

    C-1 

     

    

 

	Representation	 	Mortgage Loan	 	Description of Exception
	 	 	 	 	 
	(8) Assignment of Leases and Rents 	 	247 Bedford Avenue

(Loan No. 11)	 	The lease demising space to NRT New York LLC, d/b/a The Corcoran Group (the “Corcoran Lease”), includes provisions relating to the lease and occupancy of space (x) at the Mortgaged Property and (y) at a different building (the “Temporary Space”) owned by an affiliate of Mortgagor, which space will be occupied on a temporary basis until the space at the Mortgaged Property is available.  The Borrower has an interest in those portions of the Corcoran Lease relating to the leasing and occupancy of space at the Mortgaged Property, while the affiliate of Borrower, as owner of the Temporary Space, has an interest in those portions of the Corcoran Lease relating to the leasing and occupancy of space at the Temporary Space.  The related lender has a security interest in those portions of the Corcoran Lease relating to the leasing and occupancy of space at the Mortgaged Property only.
	 	 	 	 	 
	(16) Insurance Considerations	 	Rite Aid – ACV Portfolio

(Loan No. 36)	 	The Mortgage Loan documents provide that for so long as the tenant known as Rite Aid maintains the insurance coverage policies for the Mortgaged Properties in accordance with the related Mortgage Loan documents, Rite Aid is permitted to maintain a policy with up to a $500,000 deductible.
	 	 	 	 	 
	(16) Insurance Considerations	 	Walgreens Clinton

(Loan No. 49)	 	To the extent certain conditions are satisfied under the Mortgage Loan documents, including, but not limited to, that (i) the single tenant Walgreens’ lease is in full force and effect, (ii) no default is continuing under Walgreens’ lease, (iii) if Walgreens self-insures, Walgreens or its lease guarantor maintains (a) a credit rating of at least “BBB” or higher by S&P or an equivalent rating and (b) a net worth of at least $100,000,000, and (iv) Walgreens maintains the insurance required under its lease, the Mortgagor’s obligations to provide insurance under the Mortgage Loan documents are deemed satisfied.
	 	 	 	 	 
	(24) Local Law Compliance	 	Marriott Savannah Riverfront

(Loan No. 5)	 	Certain fire code violations are open at the Mortgaged Property.  The Mortgage Loan documents require the Mortgagor to cure all open fire code violations.  
	 	 	 	 	 
	(26) Recourse Obligations	 	Plumtree Apartments

(Loan No. 10)	 	Transfer violations other than voluntary sale or pledge of a direct interest in the Mortgaged Property do not result in full recourse if corrected within 30 days of notice from the lender.

 

    C-2 

     

    

 

	Representation	 	Mortgage Loan	 	Description of Exception
	 	 	 	 	 
	(26) Recourse Obligations	 	Brookfield Office

(Loan No. 23)	 	Transfers in violation of the related Mortgage Loan documents, other than a voluntary sale or pledge of a direct interest in the Mortgaged Property, are not full recourse to the Mortgagor and related guarantor if such violation is corrected within 30 days of notice from the related lender. 
	 	 	 	 	 
	(27) Mortgage Releases	 	One Harbor Point Square

(Loan No. 4)	 	The Mortgaged Property is benefitted by an insured parking easement which provides non-exclusive parking rights to the related Mortgagor. The related Mortgage Loan documents allow a termination of the parking easement provided that certain requirements set forth in the related Mortgage Loan documents are satisfied, including, without limitation: (i) no event of default is then ongoing  under the Mortgage Loan documents, (ii) prior to (or concurrently with) termination of the parking easement, the grantor thereunder (or an affiliate thereof) shall grant a new parking easement on a nearby parcel on substantially the same terms as the parking easement which is being terminated, (iii) Mortgagor provides evidence that the termination and replacement of the subject parking easement satisfies all REMIC requirements and (iv) after giving effect to the termination and replacement of the parking easement, the Mortgaged Property shall continue to satisfy all zoning requirements relating to parking and the Mortgagor shall be in a position to satisfy all parking obligations set forth in the leases at the property.
	 	 	 	 	 
	(31) Single-Purpose Entity	 	Marriott Savannah Riverfront

(Loan No. 5)	 	The Mortgagor is a recycled single-purpose entity that previously owned an adjacent parcel which was condemned by and transferred to the City of Savannah prior to the origination of the Mortgage Loan. The Mortgagor is currently contesting the condemnation award for the condemned parcel.    
	 	 	 	 	 
	(31) Single-Purpose Entity	 	Mountainside Crossing

(Loan No. 39)	 	The related Mortgagor previously owned certain parcels of land adjacent to the Mortgaged Property that are not a part of the collateral for the Mortgage Loan. The adjacent parcels were released prior to origination of the Mortgage Loan. 

 

    C-3 

     

    

 

	Representation	 	Mortgage Loan	 	Description of Exception
	 	 	 	 	 
	(39) Organization of Mortgagor	 	
        Storage Depot Portfolio

        (Loan No. 7)

         

        Cape Atlantic Self Storage

        (Loan No. 37)
	 	The related Mortgagors are affiliates.
	 	 	 	 	 
	(40) Environmental Conditions	 	Storage Depot Portfolio – Storage Depot-West

(Loan No. 7)	 	The ESA for the Mortgaged Property identifies elevated concentrations of radon above the U.S. Environmental Protection Agency (USEPA) guideline of 4 pCi/L within the manager’s apartment at the leasing office building.  Based on the initial radon testing, the Phase I ESA consultant recommended additional, long-term radon testing to determine whether any radon mitigation system may be required.  At origination, the lender held back $750, covering approximately 150% of the cost estimated to conduct long-term radon testing.  Should any radon mitigation system ultimately be required as a result of the long-term testing, the cost for such mitigation system is estimated by the environmental consultant to be $1,500.
	 	 	 	 	 
	(40) Environmental Conditions	 	My Space Storage Portfolio – My Space Storage 4th Street

(Loan No. 25)	 	The Phase I Environmental Site Assessment (ESA) for the related Mortgaged Property identifies impacts to the soils at the Mortgaged Property in relation to historic operations.  The Michigan Department of Environmental Quality (MDEQ) has not identified any party responsible for the soil impacts.  The Mortgagor ultimately placed asphalt over impacted soils and the MDEQ determined that the placement of such an impervious surface over the impacted soils was sufficient to address MDEQ due care requirements and that no further action was required by the Mortgagor.   Based on the MDEQ determination, the Phase I ESA consultant concluded that no additional investigation into the matter was necessary, but has recommended that, as owner of the site, the Mortgagor continue to maintain the asphalt covering as required by MDEQ due care obligations.

 

    C-4 

     

    

  

EXHIBIT D

FORM OF CERTIFICATE

 

Citigroup Global Markets Realty
Corp. (“Seller”) hereby certifies as follows:

 

		1.	All of the representations and warranties (except as set forth on Exhibit C) of the Seller
under the Mortgage Loan Purchase Agreement, dated as of May 1, 2016 (the “Agreement”), between Citigroup Commercial
Mortgage Securities Inc. and Seller, are true and correct in all material respects on and as of the date hereof (or as of such
other date as of which such representation is made under the terms of Exhibit B to the Agreement) with the same force and
effect as if made on and as of the date hereof (or as of such other date as of which such representation is made under the terms
of Exhibit B to the Agreement).

 

		2.	The Seller has complied in all material respects with all the covenants and satisfied all the conditions
on its part to be performed or satisfied under the Agreement on or prior to the date hereof, and no event has occurred which would
constitute a default on the part of the Seller under the Agreement.

 

		3.	Neither the Prospectus, dated May 17, 2016 (the “Prospectus”), relating to the
offering of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class
A-S, Class B, Class EC and Class C Certificates, nor the Offering Circular, dated May 17, 2016 (the “Offering
Circular”), relating to the offering of the Class D, Class E, Class F, Class G, Class H and Class R
Certificates, in the case of the Prospectus, as of the date thereof or as of the date hereof, or the Offering Circular, as of the
date thereof or as of the date hereof, included or includes any untrue statement of a material fact relating to the Seller Information
(as such term is defined in the Indemnification Agreement) or omitted or omits to state therein a material fact relating to the
Seller Information required to be stated therein or necessary in order to make the statements therein relating to the Seller Information,
in the light of the circumstances under which they were made, not misleading.

 

For the purposes of the foregoing
certifications, with respect to any description contained in the Prospectus and the Offering Circular of the terms or provisions
of or servicing arrangements under any Outside Servicing Agreement, to the extent that such description refers to any terms or
provisions of or servicing arrangements under the Pooling and Servicing Agreement, the Seller has assumed that the description
of such terms or provisions of or servicing arrangements under the Pooling and Servicing Agreement contained in the Prospectus
and the Offering Circular (i) does not include an untrue statement of a material fact and (ii) does

 

    D-1 

     

    

 

not
omit to state therein a material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading.

 

Capitalized terms used herein
without definition have the meanings given them in the Agreement or, if not defined therein, in the Indemnification Agreement.

 

[SIGNATURE APPEARS ON THE FOLLOWING PAGE]

 

    D-2 

     

    

 

Certified this 1st day of June 2016.

	 	 	 
	 	CITIGROUP GLOBAL MARKETS REALTY CORP.
	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    D-3 

     

    

   

EXHIBIT E

OUTSIDE SERVICED MORTGAGE LOAN PROVISIONS

  

		i.	Pursuant to the related Co-Lender Agreement or Outside
Servicing Agreement, payments due to the Trust in respect of the related Mortgage Loan are required to be remitted on or prior
to the Business Day following the Determination Date;

 

		ii.	Pursuant to the related Outside Servicing Agreement, customary
CREFC® reports related to the Mortgage Loan and the Mortgaged Properties are required to be delivered to the Trust in order
to permit the Master Servicer, Special Servicer and Certificate Administrator or Trustee to timely comply with their respective
reporting obligations under the Pooling and Servicing Agreement;

 

		iii.	Pursuant to the related Outside Servicing Agreement and/or
the related Co-Lender Agreement, each party to the Outside Servicing Agreement is required to deliver (and to cause any party
engaged by such party to the Outside Servicing Agreement to deliver (or to use commercially reasonable efforts to cause such engaged
party to deliver if such engaged party constitutes a “Mortgage Loan Seller Sub-servicer” or a term substantially similar
thereto under the Outside Servicing Agreement)) (x) all materials and notices required in order for the holder of the Outside
Serviced Mortgage Loan and the Depositor to timely comply with (1) its obligations under the Exchange Act (including any required
10-D, 8-K and 10-K reporting), and (2) any applicable comment letter from the Securities and Exchange Commission, and (y) with
respect to any Sarbanes-Oxley Certification, the applicable certification to each Certifying Person;

 

		iv.	Pursuant to the related Outside Servicing Agreement, customary
industry standard indemnification provisions exist for the failure of the applicable parties to timely deliver (or cause to be
timely delivered) the materials and notices required pursuant to clause (iii) above;

 

		v.	In connection with (x) any amendment to the Outside Servicing
Agreement, a party to such Outside Servicing Agreement is required to provide a copy of the executed amendment to the Depositor
(which may be by email), in order for the holder of the Outside Serviced Mortgage Loan and the Depositor to timely comply with
its obligations under the Exchange Act, and (y) the termination, resignation and/or replacement of any Outside Servicer or Outside
Special Servicer, the replacement Outside Servicer or Outside Special Servicer, as applicable, is required to provide all disclosure
about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof;

 

		vi.	The holder of an Outside Serviced Mortgage Loan is an
intended third-party beneficiary of the rights under the Outside Servicing Agreement to the extent such rights affect the related
Outside Serviced Mortgage Loan or the holder thereof;

 

    E-1 

     

    

 

		vii.	The Outside Servicing Agreement provides that it shall
not be amended in any manner that materially and adversely (or words of similar import) affects the holder of the Outside Serviced
Mortgage Loan without the consent of such party;

 

		viii.	Servicer Termination Events (or any analogous term under
the Outside Servicing Agreement) include customary market termination events with respect to failure to make advances, failure
to remit payments to the holder of the Outside Serviced Mortgage Loan as required, failure to deliver (or cause to be delivered)
materials or notices required in order for the holder of the Outside Serviced Mortgage Loan and the Depositor to timely comply
with its obligations under the Exchange Act, and Rating Agency triggers with respect to the Certificates, subject to customary
grace periods (provided, in the case of failures related to the Exchange Act, such grace periods do not materially and adversely
affect the Depositor); and

 

		ix.	If the Outside Serviced Mortgage Loan becomes the subject
of an Asset Review, the applicable parties to the Outside Servicing Agreement are required to reasonably cooperate with the Asset
Representations Reviewer in connection with such Asset Review (or a substantially similar provision), including with respect to
providing access to related underlying documents, to the extent the Asset Representations Reviewer has not obtained such documents
from the Seller and such documents are in the possession of the applicable party to the Outside Servicing Agreement.

 

    E-2 

     

    

  

EXHIBIT F

FORM OF DILIGENCE FILE CERTIFICATION 

(CGCMT 2016-C1)

 

Reference is hereby made to
that certain Pooling and Servicing Agreement, dated as of May 1, 2016 (the “Pooling and Servicing Agreement”),
relating to the issuance of the Citigroup Commercial Mortgage Trust 2016-C1, Commercial Mortgage Pass-Through Certificates, Series
2016-C1 (the “Series 2016-C1 Certificates”) and that certain Mortgage Loan Purchase Agreement, dated as of May
1, 2016 (the “Mortgage Loan Purchase Agreement”), between the undersigned (the “Seller”)
and Citigroup Commercial Mortgage Securities Inc. (the “Depositor”), pursuant to which the Seller sold certain
Mortgage Loans to the Depositor in connection with the issuance of the Series 2016-C1 Certificates. In accordance with Section
5(h) of the Mortgage Loan Purchase Agreement, the Seller hereby certifies to the Depositor (with a copy to the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee, the Custodian, the Controlling Class Representative, the Asset
Representations Reviewer, and the Operating Advisor), as follows:

 

		1.	The Seller has delivered an electronic copy of the Diligence File (as defined in the Pooling and
Servicing Agreement) with respect to each Mortgage Loan to the Depositor by uploading such Diligence File to the Designated Site
(as defined in the Pooling and Servicing Agreement); and

 

		2.	Each Diligence File uploaded to the Designated Site contains all documents required under the definition
of “Diligence File” and each such Diligence File is organized and categorized in accordance with the electronic file
structure reasonably requested by the Depositor.

 

Capitalized terms used herein
without definition have the meanings given them in the Mortgage Loan Purchase Agreement.

 

IN WITNESS WHEREOF, the undersigned
has caused this diligence file certification to be executed by its duly authorized officer or representative, the ___ day of [______],
2016.

	 	 	 
	 	[INSERT SELLER NAME]
	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    F-1

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