Document:

Exhibit 4.8

 

EXECUTION VERSION

 

Huntsville Office Portfolio

 

CO-LENDER AGREEMENT

Dated as of July 26, 2021

between

CITI REAL ESTATE FUNDING INC.

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

and

DBR INVESTMENTS CO. LIMITED

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

 

 

    	 	 	 

     

    

TABLE OF CONTENTS

Page

		1.	Definitions; Conflicts.	2

		2.	Servicing of the Mortgage Loan.	18

		3.	Priority of Notes.	19

		4.	Workout.	20

		5.	Accounts; Payment Procedure.	20

		6.	Limitation on Liability.	21

		7.	Representations of the Holders.	21

		8.	Independent Analyses of each Holder.	22

		9.	No Creation of a Partnership or Exclusive Purchase Right.	22

		10.	Not a Security.	23

		11.	Other Business Activities of the Holders.	23

		12.	Transfer of Notes.	23

		13.	Exercise of Remedies by the Servicer.	25

		14.	Rights of the Directing Holder.	27

		15.	Appointment of Special Servicer.	28

		16.	Rights of the Non-Directing Holders.	28

		17.	Advances; Reimbursement of Advances.	30

		18.	Provisions Relating to Securitization.	31

		19.	Governing Law; Waiver of Jury Trial.	39

		20.	Modifications.	39

		21.	Successors and Assigns; Third Party Beneficiaries.	39

		22.	Counterparts.	39

		23.	Captions.	40

		24.	Notices.	40

	25.	Custody of Mortgage Loan Documents/ Mortgagee of Record.	40

 

 

 

    	 	 	 

     

    

THIS CO-LENDER AGREEMENT
(the “Agreement”), dated as of July 26, 2021, is between CITI REAL ESTATE FUNDING INC., a New York corporation
(“Citi”), having an address at 390 Greenwich Street, 7th Floor, New York, New York, as Note A-1-1 Holder, Note
A-1-2 Holder and Note A-1-3 Holder, and DBR INVESTMENTS CO. LIMITED, an Exempted Company incorporated in the Cayman Islands (“DBRI”),
having an address at 60 Wall Street, 10th Floor, New York, New York 10005, as Note A-2-1 Holder, Note A-2-2 Holder and Note A-2-3
Holder.

W I T N E S S E T H:

WHEREAS, Citi and DBRI
have made a mortgage loan in the original principal amount of $82,000,000 (the “Mortgage Loan”) to JU Huntsville CRP
I Owner LLC and JM Huntsville CRP III Owner LLC (collectively, the “Borrower”), pursuant to a loan agreement between
the Borrower, as borrower, and Citi and DBRI, as lenders, dated as of July 20, 2021 (the “Loan Agreement”), which was
evidenced, inter alia, by (i) a promissory note in the original principal amount of $40,000,000 (“Original Note A-1”)
made by the Borrower in favor of CREFI and (ii) a promissory note in the original principal amount of $40,000,000 (“Original
Note A-2”) made by the Borrower in favor of DBRI, each secured by a first mortgage (as amended, modified or supplemented, the
“Mortgage”) on the portfolio of real properties known as Huntsville Portfolio, located in Huntsville, Alabama (the
“Mortgaged Property”);

WHEREAS, CREFI, DBRI and
the Borrower agreed, pursuant to that certain Note Splitter and Loan Agreement Modification Agreement, dated as of July 26, 2021, between
such parties, to split (A) Original Note A-1 into (i) one replacement promissory note in the original principal amount of $15,000,000
(“Note A-1-1”) made by the in favor of CREFI, (ii) one replacement promissory note in the original principal amount
of $15,000,000 (“Note A-1-2”) made by the Borrower in favor of CREFI, and (iii) one replacement promissory note in
the original principal amount of $10,000,000 (“Note A-1-3”) made by the in favor of CREFI and (B) Original Note A-2
into (i) one replacement promissory note in the original principal amount of $15,000,000 (“Note A-2-1”) made by the
in favor of DBRI, (ii) one replacement promissory note in the original principal amount of $15,000,000 (“Note A-2-2”)
made by the Borrower in favor of DBRI, and (iii) one replacement promissory note in the original principal amount of $10,000,000 (“Note
A-2-3”; collectively with Note A-1-1, Note A-1-2, Note A-1-3, Note A-2-1 and Note A-2-2, the “Notes”, and
each a “Note”);

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

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

    	 	 	 

     

    

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

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

“Accelerated Mezzanine
Loan” shall mean any mezzanine loan (secured by a pledge of the direct (or indirect) equity interests in the Mortgagor) related
to the Mortgage Loan if such mezzanine loan either (i) has been accelerated, or (ii) is the subject of foreclosure proceedings against
the related collateral for such mezzanine loan.

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

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

“Affiliate”
shall mean, (i) prior to the occurrence of the Lead Securitization, with respect to any specified Person, (a) any other Person controlling
or controlled by or under common control with such specified Person (each, a “Common Control Party”), (b) any
other Person owning, directly or indirectly, ten percent (10%) or more of the beneficial interests in such Person or (c) any other
Person in which such Person or a Common Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests
(and, for the purposes of the definition in this clause (i), “control” when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract, relation to individuals or otherwise, and the terms “controlling” and “controlled” have meanings
correlative to the foregoing), and (ii) following the occurrence of the Lead Securitization, shall have the meaning assigned thereto in
the Lead Securitization Servicing Agreement.

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

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

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

    	 	-2-	 

     

    

“Borrower Party”
shall mean (i) prior to the occurrence of the Lead Securitization, either (a) the Borrower, the Mortgagor or the manager of the Mortgaged
Property or any Affiliate of any of the foregoing or (b) a holder or beneficial owner of any Accelerated Mezzanine Loan or any Affiliate
of any of the foregoing, and (ii) following the occurrence of the Lead Securitization, shall have the meaning assigned to the term “Borrower
Restricted Party” or “Borrower Party”, as applicable, in the Lead Securitization Servicing Agreement.

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

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

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

“Certificate Administrator
Fees” shall have the meaning given to such term or an analogous term in the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3
PSA, the Note A-2-1 PSA, the Note A-2-2 PSA or the Note A-2-3 PSA.

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

“Citi”
shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

“CLO”
shall have the meaning assigned to such term in the definition of Qualified Transferee.

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

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

“Commission”
shall have the meaning assigned to such term in Section 18(b)(ix).

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

    	 	-3-	 

     

    

“Custodian”
shall mean the custodian under the Lead Securitization Servicing Agreement.

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

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

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

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

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

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

“Excluded Amounts”
shall mean:

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

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

(iii)               
amounts that are then due and payable pursuant to the Servicing Agreement to the parties to the Servicing Agreement, including,
without limitation, Servicing Fees, Special Servicing Fees, if applicable, reimbursement of costs and expenses, reimbursement of Property
Advances and interest thereon at the Reimbursement Rate;

    	 	-4-	 

     

    

provided, however, that Excluded Amounts shall
not include (A) any amounts received in respect of any P&I Advances (and interest thereon), (B) any Servicing Fees due to
the Master Servicer in excess of the Servicing Fee calculated at the “primary servicing fee rate” set forth in the Servicing
Agreement and (C) any Trustee Fees, Certificate Administrator Fees or Operating Advisor Fees.

“First Securitization”
shall mean the Securitization with the earliest Securitization Date.

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

“Hazardous Materials”
shall mean any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation, those so identified
pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. § 9601 et seq., or any
other environmental laws now existing, and specifically including, without limitation, asbestos and asbestos-containing materials, polychlorinated
biphenyls (“PCBs”), radon gas, petroleum and petroleum products, urea formaldehyde and any substances classified as
being “in inventory,” “usable work in process” or similar classification which would, if classified as unusable,
be included in the foregoing definition.

“Holder”
shall mean each of the Note A-1-1 Holder, the Note A-1-2 Holder, the Note A-1-3 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder and
the Note A-2-3 Holder.

“Initial Note Holder”
shall mean each of the Note A-1-1 Holder, Note A-1-2 Holder, Note A-1-3 Holder, Note A-2-1 Holder, Note A-2-2 Holder and Note A-2-3 Holder
named on the cover page hereof.

“Intervening Trust
Vehicle” shall mean, with respect to any Securitization Vehicle that is a CLO, a trust vehicle or entity which holds Note A-1,
Note A-1-2, Note A-1-3, Note A-2-1, Note A-2-2 or Note A-2-3 as collateral securing (in whole or in part) any obligation or security held
by such Securitization Vehicle as collateral for the CLO.

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

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

“Lead Note”
shall mean each Note held by the Lead Securitization.

“Lead Note Holder”
shall mean the Holder of the Lead Note(s).

“Lead Securitization”
shall mean the Note A-1-1 Securitization; provided, that in the event the Note A-1-1 Securitization is not the First Securitization,
then from and after the closing date of the First Securitization until the Note A-1-1 Securitization Date, the Lead Securitization shall
be the First Securitization.

“Lead Securitization
Date” shall mean the closing date of the Lead Securitization.

    	 	-5-	 

     

    

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

“Lead Securitization
Servicing Agreement” shall mean the PSA executed and delivered in connection with the Lead Securitization.

“Lead Servicer”
shall mean the servicer and/or special servicer designated under the Lead Securitization Servicing Agreement.

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

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

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

“Major Decision”
shall have the meaning given to such term or any analogous term in the Lead Securitization Servicing Agreement; provided that, at any
time that none of Note A-1-1, Note A-1-2, Note A-1-3, Note A-2-1, Note A-2-2 or Note A-2-3 is included in the Lead Securitization, “Major
Decision” shall mean, any of the following,

(i)               
any proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership
of properties securing the Mortgage Loan as come into and continue in default;

(ii)               
any modification, consent to a modification or waiver of a monetary term or material non-monetary term (including, without limitation,
the timing of payments and acceptance of discounted payoffs but excluding Penalty Charges) of the Mortgage Loan or any extension of the
Maturity Date of the Mortgage Loan;

(iii)               
any sale of the Defaulted Mortgage Loan or REO Property (other than in connection with the termination of the Lead Securitization
Trust) for less than the applicable Repurchase Price (as defined in the Servicing Agreement);

(iv)               
any determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address Hazardous
Materials located at an REO Property;

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

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

    	 	-6-	 

     

    

 additional debt, other than any
such transfer or incurrence of debt as may be effected without the consent of the lender under the Loan Agreement;

(vii)               
any property management company changes (with respect to the Mortgage Loan (i) with an unpaid principal balance greater than $2,500,000
or (ii) where the successor property manager is affiliated with the Borrower) or franchise changes with respect to the Mortgage Loan for
which the lender is required to consent or approve under the Mortgage Loan Documents;

(viii)               
releases of any escrows, reserve accounts or letters of credit held as performance escrows or reserves other than those required
pursuant to the specific terms of the Mortgage Loan Documents and for which there is no material lender discretion;

(ix)               
any acceptance of an assumption agreement releasing the Borrower from liability under the Mortgage Loan other than pursuant to
the specific terms of the Mortgage Loan Documents and for which there is no lender discretion;

(x)               
any determination of an Acceptable Insurance Default;

(xi)               
the determination of the Special Servicer to transfer the Mortgage Loan to special servicing due to an imminent default;

(xii)               
any acceleration of the Mortgage Loan following a default or an event of default or any initiation of judicial, bankruptcy or similar
proceedings under the Mortgage Loan Documents or with respect to the Borrower or Mortgaged Property; and

(xiii)               
any modification, waiver or amendment of an intercreditor agreement, co-lender agreement, participation agreement or similar agreement
with any mezzanine lender, holder of a Note or other subordinate debt holder related to the Mortgage Loan, or an action to enforce rights
with respect thereto, in each case, in a manner that materially and adversely affects the holders of the Lead Note.

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

    	 	-7-	 

     

    

“Master Servicer
Remittance Date” shall mean, with respect to each Non-Lead Note, (i) prior to the related Non-Lead Securitization, the “master
servicer remittance date” as such term is defined in the applicable Servicing Agreement, and (ii) from and after the related Non-Lead
Securitization, the earlier of (x) the “master servicer remittance date” as such term is defined in the Lead Securitization
Servicing Agreement, and (y) the business day following the related Non-Lead Securitization Determination Date, in each case above in
this definition as long as such

date is at least one Business Day after the
Monthly Payment Date (as defined in the Loan Agreement).

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

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

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

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

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

“Mortgage Interest
Rate” shall mean the Mortgage Interest Rate set forth in the Mortgage Loan Schedule with respect to each of Note A-1, Note A-1-2,
Note A-1-3, Note A-2-1, Note A-2-2 and Note A-2-3.

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

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

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

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

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

“Non-Directing Holder”
shall mean the Holder(s) of more than a fifty percent (50%) percentage interest in any Note other than Note A-1, and if such Note has
been included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated
as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party otherwise
entitled under each Non-Lead Securitization Servicing Agreement to exercise the rights granted to the related Non-Directing 

    	 	-8-	 

     

    

Holder in this Agreement. If a Non-Lead Note
is not in a Securitization, the Non-Directing Holder with respect to such Note will be the then-current Holder of such Note.

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

“Non-Lead Certificate
Administrator” shall mean the applicable certificate administrator or other analogous term under any Non-Lead Securitization
Servicing Agreement.

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

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

“Non-Lead Note”
shall mean each Note other than a Lead Securitization Note.

“Non-Lead Note Holders”
shall mean each Holder other than (a) the Lead Note Holder or (b) a Holder of any Note that is not the Lead Note but is held by the Lead
Securitization.

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

“Non-Lead Securitization
Determination Date” shall mean the “determination date” (or any term substantially similar thereto) as defined in
the related Non-Lead Securitization Servicing Agreement.

“Non-Lead Securitization
Servicing Agreement” shall mean each PSA that is not the Lead Securitization Servicing Agreement.

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

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

“Non-Lead Sponsor”
shall mean, with respect to any Non-Lead Note, the related Holder that acts as the sponsor with respect to such Non-Lead Note in connection
with the related Non-Lead Securitization.

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

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

    	 	-9-	 

     

    

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

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

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

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

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

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

“Note A-1-1
Trust Fund” shall mean the trust formed pursuant to the Note A-1-1 PSA.

“Note A-1-2”
shall have the meaning assigned such term in the recitals.

“Note A-1-2
Holder” shall mean Citi or any subsequent holder of Note A-1-2.

“Note A-1-2
Principal Balance” shall mean at any time of determination, the initial Note A-1-2 Principal Balance as set forth in the
Mortgage Loan Schedule less any payments of principal thereon received by the Note A-1-2 Holder and any reductions in such amount
pursuant to Section 4.

“Note A-1-2
PSA” shall mean the “pooling and servicing agreement” entered into in connection with the Note A-1-2 Securitization.

“Note A-1-2
Securitization” shall mean the first sale by the Note A-1-2 Holder of all or any portion of Note A-1-2 to a depositor
who will in turn include all or such portion (as applicable) of Note A-1-2 as part of the securitization of one or more mortgage
loans.

“Note A-1-2 Securitization
Date” shall mean the closing date of the Note A-1-2 Securitization.

“Note A-1-2
Trust Fund” shall mean the trust formed pursuant to the Note A-1-2 PSA.

“Note A-1-3”
shall have the meaning assigned such term in the recitals.

“Note A-1-3
Holder” shall mean Citi or any subsequent holder of Note A-1-3.

    	 	-10-	 

     

    

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

“Note A-1-3
PSA” shall mean the “pooling and servicing agreement” entered into in connection with the Note A-1-3 Securitization.

“Note A-1-3
Securitization” shall mean the first sale by the Note A-1-3 Holder of all or any portion of Note A-1-3 to a depositor
who will in turn include all or such portion (as applicable) of Note A-1-3 as part of the securitization of one or more mortgage
loans.

“Note A-1-3 Securitization
Date” shall mean the closing date of the Note A-1-3 Securitization.

“Note A-1-3
Trust Fund” shall mean the trust formed pursuant to the Note A-1-3 PSA.

“Note A-2-1”
shall have the meaning assigned such term in the recitals.

“Note A-2-1
Holder” shall mean DBRI or any subsequent holder of Note A-2-1.

“Note A-2-1
Principal Balance” shall mean at any time of determination, the initial Note A-2-1 Principal Balance as set forth in the
Mortgage Loan Schedule less any payments of principal thereon received by the Note A-2-1 Holder and any reductions in such amount
pursuant to Section 4.

“Note A-2-1
PSA” shall mean the “pooling and servicing agreement” entered into in connection with the Note A-2-1 Securitization.

“Note A-2-1
Securitization” shall mean the first sale by the Note A-2-1 Holder of all or any portion of Note A-2-1 to a depositor
who will in turn include all or such portion (as applicable) of Note A-2-1 as part of the securitization of one or more mortgage
loans.

“Note A-2-1 Securitization
Date” shall mean the closing date of the Note A-2-1 Securitization.

“Note A-2-1
Trust Fund” shall mean the trust formed pursuant to the Note A-2-1 PSA.

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

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

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

    	 	-11-	 

     

    

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

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

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

“Note A-2-2
Trust Fund” shall mean the trust formed pursuant to the Note A-2-2 PSA.

“Note A-2-3”
shall have the meaning assigned such term in the recitals.

“Note A-2-3
Holder” shall mean DBRI or any subsequent holder of Note A-2-3.

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

“Note A-2-3
PSA” shall mean the “pooling and servicing agreement” entered into in connection with the Note A-2-3 Securitization.

“Note A-2-3
Securitization” shall mean the first sale by the Note A-2-3 Holder of all or any portion of Note A-2-3 to a depositor
who will in turn include all or such portion (as applicable) of Note A-2-3 as part of the securitization of one or more mortgage
loans.

“Note A-2-3 Securitization
Date” shall mean the closing date of the Note A-2-3 Securitization.

“Note A-2-3
Trust Fund” shall mean the trust formed pursuant to the Note A-2-3 PSA.

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

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

“Operating Advisor
Fees” shall have the meaning given to such term or an analogous term in each of the Note A-1-1 PSA, the Note A-1-2 PSA, the
Note A-1-3 PSA, the Note A-2-1 PSA, the Note A-2-2 PSA and the Note A-2-3 PSA.

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

    	 	-12-	 

     

    

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

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

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

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

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

“PSA”
shall mean each of the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3 PSA, the Note A-2-1 PSA, the Note A-2-2 PSA and the Note A-2-3
PSA.

“Qualified Servicer”
shall mean (i) Wells Fargo Bank, National Association, (ii) Midland Loan Services, a Division of PNC Bank, National Association,
(iii) KeyBank National Association or (iv) any nationally recognized commercial mortgage loan servicer (1) rated at least
“CSS3,” in the case of a special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on
the S&P Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable,
(3) as to which neither Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor in any
qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade
or withdrawal) of securities in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by such servicer prior
to the time of determination, and (4) that is then currently acting as servicer in a CMBS transaction 

    	 	-13-	 

     

    

rated by DBRS Morningstar and as
to which DBRS Morningstar has not cited servicing concerns of such servicer as the sole or material factor in any qualification, downgrade
or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of any
securities issued in such transaction that are rated by DBRS Morningstar. For purposes of this definition, for so long as any Note is
included in a Securitization, the ratings or actions of any Rating Agency that is not rating such Securitization(s) shall not be considered.

“Qualified Transferee”
shall mean an Affiliate of Citi or DBRI, or one or more of the following (other than any Borrower Party):

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

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

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

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

(v)               
a Qualified Trustee (or, in the case of a CLO, a single purpose bankruptcy-remote entity that contemporaneously pledges its
interest in a Note to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation of collateralized loan
(or debt) obligations (“CLO”) secured by, or (C) a financing through an “owner trust” of, any interest
in a Note (any of the foregoing, a “Securitization Vehicle”), provided that either (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by at least two (2) of the Rating Agencies
engaged to assign ratings to classes of securities issued in connection with the applicable Securitization of the applicable Note; (2) in
the case of a Securitization Vehicle that is not a CLO, the special servicer for the Securitization Vehicle is a Qualified Servicer at
the time of transfer; or (3) in the case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each
Intervening Trust Vehicle that is not administered and managed by a CLO Asset Manager that is a Qualified Transferee, is a Qualified Transferee
under clause (i), (ii), (iii) or (iv) of this definition; or

(vi)               
an investment fund, limited liability company, limited partnership or general partnership in which a Permitted Fund Manager acts
as the general partner, managing member, or the fund manager responsible for the day to day management and operation of such investment
vehicle, provided that greater than 

    	 	-14-	 

     

    

fifty percent (50%) of the equity interests in such investment vehicle are owned, directly
or indirectly, by one or more entities that are otherwise Qualified Transferees;

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

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

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

“Rating Agency Confirmation”
shall mean each of the applicable Rating Agencies shall have confirmed in writing that the occurrence of the event with respect to which
such Rating Agency Confirmation is sought shall not result in a downgrade, qualification or withdrawal of the applicable rating or ratings
ascribed by such Rating Agency to any of the Certificates then outstanding. In the event that no Certificates are outstanding, any action
that would otherwise require a Rating Agency Confirmation shall require the consent of the Directing Holder (unless it is a Borrower Party),
which consent shall not be unreasonably withheld, conditioned or delayed.

For the purposes of this
Agreement, if any Rating Agency (1) waives, declines or refuses, in writing, to review or otherwise engage any request for a confirmation
hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade or withdrawal of its then current
rating of the securities issued pursuant to the related Securitization, or (2) does not reply to such request or responds in a manner
that indicates that such Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency Confirmation and
the related timing, notice and other applicable provisions set forth in the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3 PSA, the
Note A-2-1 PSA, the Note A-2-2 PSA and the Note A-2-3 PSA have been satisfied, then for such request only, the condition that such confirmation
by such Rating Agency (only) be obtained will be deemed not to apply for purposes of this Agreement. For purposes of clarity, any such
waiver, declination or refusal to 

    	 	-15-	 

     

    

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.

“Regulation
AB” shall mean Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1125, as such rules may be amended from time to time, and subject to such clarification and interpretation
as have been or may hereafter be from time to time provided by the Commission or by the staff of the Commission, in each case as
effective from time to time as of the compliance dates specified therein.

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

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

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

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

“Securitization”
shall mean each of the Note A-1-1 Securitization, the Note A-1-2 Securitization, the Note A-1-3 Securitization, the Note A-2-1 Securitization,
the Note A-2-2 Securitization and the Note A-2-3 Securitization, as applicable.

“Securitization
Date” shall mean, with respect to a Securitization, the effective date on which such Securitization is consummated.

“Securitization
Servicing Agreement” shall mean the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement,
as the context may require.

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

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

“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.

    	 	-16-	 

     

    

“Servicing
Agreement” shall mean (a) prior to the occurrence of the Lead Securitization, that certain Servicing Agreement, dated as
of July 3, 2018 and as amended as of the date hereof, between Citi, as owner, and Midland Loan Services, a Division of PNC Bank,
National Association, as servicer, and any replacement servicing agreement entered into with any successor interim servicer
appointed by the Note A-1-1 Holder, and (b) following the occurrence of the Lead Securitization, the applicable Lead Securitization
Servicing Agreement; provided that in the event the Lead Note is no longer an asset of the trust fund created pursuant to the
Servicing Agreement, the term “Servicing Agreement” shall refer to the subsequent servicing agreement entered into
pursuant to Section 2.

“Servicing Fee”
shall mean the fee of the Master Servicer pursuant to the terms of the Servicing Agreement, which will generally be calculated as the
product of (i) the Servicing Fee Rate and (ii) the Note A-1-1 Principal Balance, the Note A-1-2 Principal Balance, the Note
A-1-3 Principal Balance, the Note A-2-1 Principal Balance, the Note A-2-2 Principal Balance and the Note A-2-3 Principal Balance, as applicable,
as of the date of determination.

“Servicing Fee Rate”
shall have the meaning applied to such term in the Servicing Agreement, being the rate per annum (which shall consist of the primary servicing
fee rate) which, when applied to the Note A-1-1 Principal Balance, the Note A-1-2 Principal Balance, the Note A-1-3 Principal Balance,
the Note A-2-1 Principal Balance, the Note A-2-2 Principal Balance and the Note A-2-3 Principal Balance, as applicable, will determine
the primary servicing fee payable to the Master Servicer under the Servicing Agreement.

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

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

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

“Special Servicing
Fee” shall have the meaning given to such term or an analogous term in the Servicing Agreement; provided that under
no circumstances shall the Special Servicing Fee exceed 0.2500% per annum (25 basis points) of the outstanding principal balance of the
Mortgage Loan, subject to any applicable minimum Special Servicing Fee set forth in the Lead Securitization Servicing Agreement.

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

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

    	 	-17-	 

     

    

“Trust Fund”
shall mean each of the Note A-1-1 Trust Fund, the Note A-1-2 Trust Fund, the Note A-1-3 Trust Fund, the Note A-2-1 Trust Fund, the Note
A-2-2 Trust Fund and the Note A-2-3 Trust Fund.

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

“Trustee Fee”
shall have the meaning given to such term or an analogous term in each of the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3 PSA,
the Note A-2-1 PSA, the Note A-2-2 PSA and the Note A-2-3 PSA.

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

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

(c)               
If, at any time the Lead Note is no longer in a Securitization, the Lead Note Holder shall cause the Mortgage Loan to be serviced
pursuant to a servicing agreement that is substantially similar to the Servicing Agreement (and, if any Non-Lead Note is in a Securitization,
a Rating Agency Confirmation from the Rating Agencies that were engaged by the related Depositor to rate such Securitization shall be
obtained) and all references herein to the “Servicing Agreement” shall mean such subsequent Servicing Agreement; provided,
however, that the Notes that were held by the Lead Securitization shall continue to be considered as the Lead Note; provided
further, however, that unless otherwise agreed to by the holder of the Lead Note, the master servicer under such subsequent
servicing agreement shall not be required to make any P&I Advance in respect of such Note; provided, however, that
until a replacement Servicing Agreement has been entered into (and such Rating Agency Confirmation has been obtained), the Lead Note
Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Servicing Agreement to which the Lead Note was
subject (excluding, however, any obligation to make any P&I Advances in respect of the Lead Note except as specifically agreed to
by the Servicer, and provided that the Servicer’s right to reimbursement for Property Advances as set forth in Section 17 shall
remain in effect), as if such Servicing Agreement was still in full force and effect with respect to the Mortgage Loan; provided,
further, however, that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage Loan may
be performed by any Qualified Servicer appointed by the Lead Note Holder and does not

    	 	-18-	 

     

    

have to be performed by the service providers set forth under the Servicing Agreement that was previously
in effect.

(d)              
Notwithstanding anything to the contrary contained herein (including Sections 4 and 13(a)), each Servicing Agreement
shall provide that the Servicer shall be required to service and administer the Mortgage Loan in accordance with the Servicing Standard
as set forth in such Servicing Agreement, and any Holder who is not a Borrower Party shall be deemed a third-party beneficiary of such
provisions of the Servicing Agreement. It is understood that any Non-Lead Note Holder may separately appoint a servicer for its Non-Lead
Note, by itself or together

with other assets, but any such servicer will
have no responsibility hereunder and shall be compensated solely by the applicable Non-Lead Note Holder from funds payable to it hereunder
or otherwise.

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

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

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

3.                 
Priority of Notes. Each Note shall be of equal priority, and no portion of any Note shall have priority or preference over
any portion of any other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise
available for payment on the Mortgage Loan, whether received in the form of Monthly 

    	 	-19-	 

     

    

Payments, a balloon payment, Liquidation Proceeds,
proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard
or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent
domain, shall be distributed by the Servicer and applied to the Notes on a Pro Rata and Pari Passu Basis.

The Servicing Agreement
shall provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used (i) to pay the Master
Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances,
(ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other
expenses (including Special Servicing Fees, unpaid workout fees and liquidation fees) incurred with respect to the Mortgage Loan and
(iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long
as a Note is not included in a Securitization, any Penalty Charges allocated to such Note that are not applied pursuant to clauses
(i) through (iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special
Servicer without the express consent of such Holder.

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

4.                 
Workout. Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing
Agreement and Section 13 of this Agreement, and the obligation to act in accordance with the Servicing Standard, if the
Lead Note Holder, or any Servicer, in connection with a workout or proposed workout of the Mortgage Loan, modifies the terms thereof
such that (i) the Mortgage Loan Principal Balance is decreased, (ii) the Mortgage Interest Rate is reduced, (iii) payments
of interest or principal on 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 the Notes as described in Section 3.

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

    	 	-20-	 

     

    

after the related due date under the Mortgage Loan shall be remitted
by the Master Servicer in accordance with Section 18(b)(x) of this Agreement.

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

6.                 
Limitation on Liability. Subject to the terms of the Servicing Agreement, no Holder (including the Master Servicer or the
Special Servicer on its behalf) shall have any liability to any other Holder with respect to any Note, except (1) with respect to
the Advance reimbursement provisions set forth in Section 17 and (2) with respect to losses actually suffered due to
the negligence, willful misconduct or material breach of this Agreement on the part of such Holder (including the Master Servicer or the
Special Servicer on its behalf, and the Master Servicer’s or Special Servicer’s liability is further limited as set forth
in the Servicing Agreement; which, for the avoidance of doubt, shall not reduce the obligation of such parties to act in accordance with
the Servicing Standard).

7.                 
Representations of the Holders. (a)  Each of the Initial Note Holders hereby represents and warrants to, and covenants
with, each other Holder that, as of the date hereof:

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

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

    	 	-21-	 

     

    

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

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

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

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

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

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

(viii)           
It is a Qualified Transferee.

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

9.                 
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto, shall be deemed to constitute between any Holder (or any servicer or trustee on its behalf) and any other Holder a partnership,
association, joint venture or other entity. Each Holder (or any servicer or trustee on its behalf) shall have no obligation whatsoever
to offer to the other Holders the opportunity to purchase notes or interests relating to any future loans originated by such Holder or
any of its Affiliates, and if any Holder chooses to offer to any of the other Holders, the opportunity to purchase notes or interests
in any future mortgage loans originated by such Holder or its Affiliates, such offer 

    	 	-22-	 

     

    

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

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

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

12.             
Transfer of Notes. (a)  Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its
Note whether or not the related transferee is a Qualified Transferee without a Rating Agency Confirmation. Each Holder shall not Transfer
more than 49% (in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization of any Note, the other
Holders have consented to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified Transferee”
for all purposes under this Agreement, (ii) after a Securitization of any Note, a Rating Agency Confirmation has been received with
respect to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified Transferee” for
all purposes under this Agreement, or (iii) such Transfer is to a Qualified Transferee. Any such transferee must assume in writing
the obligations of the transferring Holder hereunder and agree to be bound by the terms and provisions of this Agreement and the Servicing
Agreement. Such proposed transferee (except in the case of Transfers that are made in connection with a Securitization) shall also remake
each of the representations and warranties contained herein for the benefit of the other Holders. Notwithstanding the foregoing, without
the non-transferring Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring Holder’s
Note is in a Securitization, without a Rating Agency Confirmation from each Rating Agency that has been engaged by the related Depositor
to rate the securities issued in connection with such Securitization, no Holder shall Transfer all or any portion of its Note to any Borrower
Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.

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

(c)               
The Holders acknowledge that any Rating Agency Confirmation may be granted or denied by the Rating Agencies in their sole and absolute
discretion and that such 

    	 	-23-	 

     

    

Rating Agencies may charge the transferring Holder customary fees in connection with providing such Rating Agency
Confirmation.

(d)              
Notwithstanding anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”)
its Note to any entity (other than any Borrower Party) that has extended a credit facility to such Holder or has entered into a repurchase
agreement with such Holder and that, in each case, is either a Qualified Transferee or a financial institution whose long-term unsecured
debt is rated at least “A” (or the equivalent) or better by each Rating Agency (a “Note Pledgee”), or
to a Person with respect to which a Rating Agency Confirmation has been obtained, on terms and conditions set forth in this Section 12(d),
it being further agreed that a financing provided by a Note Pledgee to any Holder or any Affiliate that controls such Holder that is
secured by such Holder’s interest in its respective Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder on the condition that all applicable terms and conditions of this Section 12(d) are complied with. A Note Pledgee
that is not a Qualified Transferee may not take title to a Note without a Rating Agency Confirmation. Upon written notice, if any, by
the pledging Holder to the other Holders and any Master Servicer that a Pledge has been effected (including the name and address of the
applicable Note Pledgee), the other Holders agree to acknowledge receipt of such notice and thereafter agree: (i) to give such
Note Pledgee written notice of any default by the pledging Holder in respect of its obligations under this Agreement of which default
such Holder has actual knowledge and which notice shall be given simultaneously with the giving of such notice to the pledging Holder;
(ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default by the pledging Holder in respect of its
obligations to the other Holders hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that
no amendment, modification, waiver or termination of this Agreement or the Servicing Agreement (if the pledging Holder had the right
to consent to such amendment, modification, waiver or termination pursuant to the terms hereof) shall be effective against such Note
Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed and
which consent shall be deemed to be given if Note Pledgee shall fail to respond to any request for consent to any such amendment, modification,
waiver or termination within 10 days after request therefor; (iv) that the other Holders shall accept any cure by such Note Pledgee
of any default of the pledging Holder which such pledging Holder has the right to effect hereunder, as if such cure were made by such
pledging Holder; (v) that the other Holders or any Servicer shall deliver to Note Pledgee such estoppel certificate(s) as Note
Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory to the other
Holders; and (vi) that, upon written notice (a “Redirection Notice”) to any Master Servicer by such Note Pledgee
that the pledging Holder is in default beyond any applicable cure periods with respect to the pledging Holder’s obligations to
such Note Pledgee pursuant to the applicable credit agreement or other agreements relating to the Pledge between the pledging Holder
and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Holder), and until such Redirection Notice is
withdrawn or rescinded by such Note Pledgee, Note Pledgee (or at any time that pledging Holder otherwise directs that such payment be
made to Note Pledgee pursuant to a separate notice) shall be entitled to receive any payments that any Servicer would otherwise be obligated
to make to the pledging Holder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Holder hereby unconditionally
and absolutely releases the other Holders and any Servicer from any liability to the pledging Holder on account of any Holder’s
or Servicer’s compliance with any Redirection Notice believed by any Servicer or other

    	 	-24-	 

     

    

Holders in good faith to have been delivered
by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Holder (and accept
an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law, the pledge agreement, repurchase agreement
or similar agreement between the pledging Holder and the Note Pledgee and this Agreement. In such event, or if the pledging holder otherwise
assigns its interests to the Note Pledgee, the other Holders and any Master Servicer shall recognize such Note Pledgee (and any transferee
(other than any Borrower Party) that is also a Qualified Transferee at any foreclosure or similar sale held by such Note Pledgee or any
transfer in lieu of foreclosure), and such Person’s successor and assigns, as the successor to the pledging Holder’s rights,
remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Transferee shall assume in writing the obligations
of the pledging Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee)
and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d)
shall remain effective as to any Holder (and any Servicer) unless and until such Note Pledgee shall have notified such Holder (and
any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

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

(b)              
The Lead Servicer and the Trustee for the Lead Securitization shall not have any fiduciary duty to the Non-Lead Note Holders in
connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Servicer and such Trustee from

    	 	-25-	 

     

    

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

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

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

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

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

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

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

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

Any Non-Lead Note Holder
may waive any delivery or timing requirements set forth above only for itself. Subject to the foregoing, each of the Lead Note Holder,
the Directing Holder, the Non-Lead Note Holders and the Non-Directing Holders shall be permitted to submit an offer at any sale of the
Defaulted Mortgage Loan (unless such Person is a Borrower Party).

Subject to the conditions
set forth in this Section 13(c), the Non-Lead Note Holders hereby appoint the Lead Note Holder as their agent, and grant to the
Lead Note Holder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting
offers for and consummating the sale of the Non-Lead Notes. Subject to the conditions set forth in this Section 13(c), each Non-Lead
Note Holder further agrees that, upon the request of the Lead Note Holder, such Non-Lead Note Holder shall execute and deliver to or at
the direction of Lead Note Holder such powers of attorney or other instruments as the 

    	 	-26-	 

     

    

Lead 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 related original
Non-Lead Note, endorsed in blank, to or at the direction of the Lead Note Holder in connection with the consummation of any such sale.

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

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

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

In the event that the Special
Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized by the Servicing Agreement to take such action),
as applicable, determines that immediate action, with respect to the foregoing matters, or any other matter requiring consent of the Directing
Holder is necessary to protect the interests of the Holders (as a 

    	 	-27-	 

     

    

collective whole) and the Special Servicer has made a reasonable effort
to contact the Directing Holder, the Master Servicer or the Special Servicer, as the case may be, may take any such action without waiting
for the Directing Holder’s response.

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

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

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

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

(i)           
to provide copies of any notice, information and report that it is required to provide to the Directing Holder pursuant to the
Servicing Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report
relating to the Mortgage Loan to the Non-Directing Holders, within the 

    	 	-28-	 

     

    

same time frame it is required to provide
to the Directing Holder; provided, however, following a Non-Lead Securitization, all notices, reports, information or other deliverables
required to be delivered to the related Non-Directing Holder or the related Non-Lead Note Holder pursuant to this Agreement or the Lead
Securitization Servicing Agreement by the Lead Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
be delivered to the related Non-Lead Master Servicer, the related Non-Lead Special Servicer and the related Non-Lead Certificate Administrator
(who then may forward such items to the party entitled to receive such items as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement) and, when so delivered to such Non-Lead Master Servicer, Non-Lead Special Servicer and Non-Lead Certificate Administrator,
the Lead 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; provided, however,
that all items that relate to the related Non-Lead Depositor’s compliance with any applicable securities laws shall also be
delivered to such Non-Lead Depositor; and

(ii)           
 to consult with each Non-Directing Holder on a strictly non-binding basis, if, having received such notices, information and reports,
such Non-Directing Holder requests consultation with respect to any such Major Decision or the implementation of any recommended actions
outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by such Non-Directing Holder;
provided that after the expiration of a period of ten (10) Business Days (or in connection with an Acceptable Insurance Default, thirty
(30) days) from the delivery to each Non-Directing Holder of written notice of a proposed action, together with copies of the notices,
information and reports required to be provided to, or requested by, the Directing Holder, the Servicer shall no longer be obligated to
consult with the Non-Directing Holders (unless the Servicer proposes a new course of action that is materially different from the action
previously proposed, in which case such ten (10) Business Day period (or in connection with an Acceptable Insurance Default, thirty (30)
day period) shall be begin anew from the date of such proposal and delivery of all information relating thereto).

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

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

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

    	 	-29-	 

     

    

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

17.              Advances;
Reimbursement of Advances. (a) (i) Pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the
related Trustee shall be obligated (subject to customary determinations of non-recoverability) to make (1) Property Advances
with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and
(ii) pursuant to the terms of a Non-Lead Securitization Servicing Agreement, the related Non-Lead Master Servicer and/or the
related Non-Lead Trustee may be obligated to make P&I Advances with respect to the related Non-Lead Note. The Lead Servicer
and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related
Non-Lead Master Servicer and/or the related Non-Lead Trustee will not be required to make any P&I Advance with respect to any
Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer, the Trustee and any
related Non-Lead Trustee will be entitled to interest on any Advance (at a rate not to exceed the Prime Rate) made in the manner and
from the sources provided in the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3 PSA, the Note A-2-1 PSA, the Note A-2-2
PSA and the Note A-2-3 PSA, as applicable.

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

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

(d)              
The parties to each of the Note A-1-1 PSA, the Note A-1-2 PSA, the Note A-1-3 PSA, the Note A-2-1 PSA, the Note A-2-2 PSA and the
Note A-2-3 PSA shall each be entitled to make their own recoverability determination with respect to a P&I Advance based on the information
that they have on hand and in accordance with the Note A-1-1 PSA, the Note A-

    	 	-30-	 

     

    

1-2 PSA, the Note A-1-3 PSA, the Note A-2-1 PSA, the Note
A-2-2 PSA and the Note A-2-3 PSA, as applicable.

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

18.              Provisions
Relating to Securitization. (a)  For so long as an Initial Note Holder or its Affiliate (an “Initial Note
Holder Entity”) is the owner of its Note(s), such Initial Note Holder Entity shall have the right, subject to the terms of
the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes or additional notes (in either case
“New Notes”) reallocating the principal of its Note(s) or severing its Note(s) into one or more further
“component” notes in the aggregate principal amount equal to the then-outstanding principal balance of its Note(s), provided
that (i) the aggregate principal balance of the New Notes following such amendments is no greater than the principal balance
of the related original Note(s) prior to such amendments, (ii) all New Notes continue to have the same weighted average
interest rate as the original Note(s) prior to such amendments, (iii) all New Notes pay pro rata and on a pari
passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement and
(iv) the Initial Note  Holder Entity holding the New Notes shall notify the other Holders (or, for any Note that has
been contributed to a Securitization, to the trustee and the applicable master servicer of such Securitization) in writing of such
modified allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to
execute amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this Agreement) on
behalf of any or all of the Holders solely for the purpose of reflecting such reallocation of principal or such severing of Note(s),
(2) if a Note is severed into “component” notes, such component notes shall each have their same rights as the
respective original Note (except if such original Note is Note A-1-1, then the applicable Initial Note Holder shall designate one of
the New Notes to take the place of Note A-1-1 in the definitions of “Directing Holder”, “Lead Note”,
“Lead Securitization”, “Non-Directing Holder” and “Servicing Agreement”, and (3) the definition
of the term “Securitization” and all of the related defined terms may be amended (and new terms added, as necessary) to
reflect the New Notes. Rating Agency Confirmation shall not be required for any amendments to this Agreement required to facilitate
the terms of this paragraph 18(a).

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

(i)           
the Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer and each Non-Lead Trustee
of any P&I Advance it has made with respect to the Lead Note within two (2) Business Days of making such advance;

    	 	-31-	 

     

    

(ii)           
if the Master Servicer determines that a proposed P&I Advance with respect to the Lead Note or Property Advance with respect
to the Mortgage Loan, if made, or any outstanding P&I Advance or Property Advance previously made, would be, or is, as applicable,
a Nonrecoverable Advance, the Master Servicer shall provide each Non-Lead Master Servicer written notice of such determination promptly
after such determination was made together with such reports that the Master Servicer delivered to the Special Servicer or Trustee in
connection with notification of its determination of nonrecoverability;

(iii)           
the Master Servicer shall remit all payments received with respect to any Non-Lead Note, net of the Servicing Fees payable to the
Master Servicer and Special Servicer with respect to such Non-Lead Note, and any other applicable fees and reimbursements payable to the
Master Servicer, the Special Servicer and the Trustee with respect to such Non-Lead Note, to the related Non-Lead Note Holder by the Master
Servicer Remittance Date for the Non-Lead Note; provided, that any late collections received by the Master Servicer after the related
due date under the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section 18(b)(x) below;

(iv)           
 with respect to any Non-Lead Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to be delivered
or make available to the related Non-Lead Master Servicer all reports required to be delivered by the Master Servicer to the 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, such Non-Lead Note, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee
by the Business Day following the Master Servicer Remittance Date for the Non-Lead Note;

(v)           
the Master Servicer and Special Servicer, as applicable, shall provide (or the Special Servicer shall provide to the Master Servicer
for provision by the Master Servicer) (in electronic media) to each Non-Lead Note Holder all documents, certificates, instruments, notices,
reports, operating statements, rent rolls and other information regarding the Mortgage Loan provided by it to any other party to the Lead
Securitization Servicing Agreement at the time provided to such other party;

(vi)           
the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement shall
include the duty to service the Mortgage Loan and all of the Notes on behalf of the Holders (including the respective trustees and certificateholders)
in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement and the Servicing Standard;

(vii)           
each Non-Lead Note Holder shall be entitled to the same indemnity as the Lead Note Holder under the Lead Securitization Servicing
Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor, any primary
servicer and the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by
it to) indemnify each “certification party” and the depositor of any public Securitization Trust, and their 

    	 	-32-	 

     

    

respective directors
and officers and controlling persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization)
and each “certifying party” for (i) its failure to deliver the items in clause (viii) below in a timely manner, (ii) its failure
to perform its obligations to such depositor or the related Non-Lead Trustee under Article X (or any article substantially similar thereto)
of the Lead Securitization Servicing Agreement by the time required after giving effect to any applicable grace period or cure period,
(iii) the failure of any Servicing Function Participant or Additional Servicer retained by it (other than a Mortgage Loan Seller Sub-Servicer)
to perform its obligations to such depositor or trustee under such Article X (or any article substantially similar thereto) of the Lead
Securitization Servicing Agreement by the time required and/or (iv) any Deficient Exchange Act Deliverable regarding, and delivered by
or on behalf of, such party;

(viii)            with
respect to any Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange Act
(including Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the Trustee,
the Certificate Administrator or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall
be required to cause each other servicer and servicing function participant (within the meaning of Items 1123 and 1122,
respectively, of Regulation AB) retained or engaged by it to deliver; provided that such party shall only be required to use
commercially reasonable efforts to cause a Mortgage Loan Seller Sub-Servicer to deliver), in a timely manner (i) the reports,
certifications, compliance statements, accountants’ assessments and attestations, and information to be included in reports
(including, without limitation, Form ABS-15G, Form 10-K, Form 10-D and Form 8-K), and (ii) upon request, any other materials
specified in the related Non-Lead Securitization Servicing Agreement, in the case of clauses (i) and (ii), as the related Non-Lead
Depositor or the related Non-Lead Trustee reasonably believes, in good faith, are required in order for the related Non-Lead
Depositor or the related Non-Lead Trustee to comply with its obligations under the Securities Act, the Exchange Act (including Rule
15Ga-1), Regulation AB and Form SF-3, (b) without limiting the generality of the foregoing (x) the Lead Depositor or the related
Holder shall provide or cause to be provided to any related Non-Lead Depositor and any Non-Lead Trustee (1) written notice (which
may be by e-mail) in a timely manner (but no later than three (3) Business Days prior to closing) of the occurrence of such
Securitization, and (2) no later than one (1) business day following the closing date of such Securitization, a copy of the Lead
Securitization Servicing Agreement in an EDGAR-compatible format, and (y) the Master Servicer and Special Servicer (or any
replacement Master Servicer or Special Servicer, as applicable) shall, upon reasonable prior written request, and subject to the
right of the Master Servicer or the Special Servicer, as the case may be, to review and approve such disclosure materials, permit a
holder of any Non-Lead Note to use such party’s description contained in the Lead Securitization prospectus (updated as
appropriate by the Master Servicer or Special Servicer, as applicable, at the cost of the related Non-Lead Sponsor) (or, in the case
of a replacement Special Servicer, contained in a Lead Securitization Form 8-K), for inclusion in the disclosure materials (or, in
the case of a replacement Special Servicer, for inclusion in a Form 8-K) relating to any securitization of the related Non-Lead
Note, and (z) the Master Servicer and the Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable),
shall provide

    	 	-33-	 

     

    

 indemnification agreements, opinions and Regulation AB compliance letters as were or are being delivered with respect
to the Lead Securitization (in each case, at the cost of the related Non-Lead Sponsor), and (c) in connection with any amendment of
the Lead Securitization Servicing Agreement, the party requesting such amendment shall provide written notice (which may be by
e-mail) of such proposed amendment to any Non-Lead Depositor and the related Non-Lead Trustee no later than three (3) Business Days
prior to the date of effectiveness of such amendment, and, on the date of effectiveness of such amendment to the Lead Securitization
Servicing Agreement, provide a copy of such amendment in an EDGAR-compatible format to such Non-Lead Depositor and the related
Non-Lead Trustee. The Master Servicer and the Special Servicer shall each be required to provide certification and indemnification
to any “certifying party” with respect to any applicable Sarbanes-Oxley Certification with respect to a Non-Lead
Securitization;

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

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

(xi)           
each Non-Lead Note Holder is an intended third-party beneficiary in respect of the rights afforded it under the Lead Securitization
Servicing Agreement and the related Non-Lead Master Servicer will be entitled to enforce the rights of such Non-

    	 	-34-	 

     

    

Lead Note Holder under
this Agreement and the Lead Securitization Servicing Agreement;

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

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

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

(xv)           
 to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, Rating Agency Confirmation shall be provided
with respect to the Certificates issued in connection with any Non-Lead Securitization to the same extent a Rating Agency Confirmation
is provided with respect to the Certificates issued in connection with the Lead Securitization;

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

    	 	-35-	 

     

    

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

(xvii)            upon
any resignation of the Master Servicer or the Special Servicer, any replacement of the Special Servicer, any termination of the
Master Servicer or Special Servicer and/or any replacement thereof, any appointment of a successor to the Master Servicer or Special
Servicer, or the effectiveness of any designation of a new Special Servicer, the Trustee or Certificate Administrator shall promptly
(and in any event no later than three (3) Business Days prior to the effective date of such resignation, termination, replacement
and/or appointment of a Master Servicer or Special Servicer) provide written notice thereof to each Non-Lead Trustee, each Non-Lead
Master Servicer and each Non-Lead Depositor, together with any information reasonably required (including, without limitation, any
disclosure required under Item 1108 of Regulation AB) for the related Non-Lead Securitization to comply with any applicable
reporting obligations under the Exchange Act; provided, that such notice shall not be deemed to be provided unless receipt thereof
has been confirmed in writing (which may be by e-mail) from any such Non-Lead Depositor;

(xviii)           
if a Non-Lead Note becomes the subject of an Asset Review pursuant to a Non-Lead Securitization Servicing Agreement, the Master
Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the related Non-Lead Asset Representations
Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer with any documents reasonably
requested by such Non-Lead Asset Representations Reviewer, but only to the extent (x) such documents are in the possession of the Master
Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and (y) such Non-Lead Asset Representations Reviewer
has not been able to obtain such documents from the related mortgage loan seller; and

(xix)           
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement.

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

    	 	-36-	 

     

    

(i)            the
Non-Lead Note Holder shall be responsible for its Pro Rata and Pari Passu Basis share of any Property Advances (and advance interest
thereon) and any Additional Trust Fund Expenses, but only to the extent that they relate to servicing and administration of the
Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, liquidation fees and workout fees
relating to the Notes, and that in the event that the funds received with respect to each respective Note are insufficient to cover
such Property Advances or Additional Trust Fund Expenses, (A) the related Non-Lead Master Servicer will be required to, promptly
following notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee or the Lead Securitization Trust (such parties and the Lead Securitization Trust,
collectively, the “Indemnified Parties”), as applicable, out of general funds in the collection account (or
equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such Non-Lead Note Holder’s
Pro Rata and Pari Passu Basis share of any such Nonrecoverable Property Advances (together with advance interest thereon) and/or
Additional Trust Fund Expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to
the servicing and administration of the Mortgage Loan and the Mortgaged Property), and (B) if the Lead Securitization Servicing
Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse itself from
the Lead Securitization Trust’s general account, then the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, as applicable, may do so, and the related 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 related Non-Lead Securitization Servicing Agreement for such
Non-Lead Note Holder’s Pro Rata and Pari Passu Basis share of any such Nonrecoverable Property Advances (together with advance
interest thereon) and/or Additional Trust Fund Expenses (including compensation due to the Master Servicer and the Special Servicer
to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property);

(ii)           
each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties pursuant to the terms of the Lead Securitization Servicing Agreement and, in the case of the Lead Securitization
Trust, to the extent of any Additional Trust Fund Expenses with respect to the Mortgage Loan) by the related Non-Lead Securitization Trust,
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 and Pari Passu Basis share of such
Indemnified Items, and to the extent amounts on deposit in the Loan Combination Custodial Account that are allocated to the related Non-Lead
Note are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse each of the
applicable Indemnified Parties for the related Non-Lead Note’s Pro Rata and Pari Passu Basis share of the insufficiency out of general

    	 	-37-	 

     

    

funds in the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement;

(iii)           
the related Non-Lead Master Servicer, Non-Lead Trustee or Non-Lead Certificate Administrator will be required to deliver to the
Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer and the Operating Advisor (i) promptly following Securitization
of the related Non-Lead Note, notice of the deposit of the related Non-Lead Note into a Trust Fund (which notice may be by e-mail and
shall also provide contact information for the related Non-Lead Trustee, the related Non-Lead Certificate Administrator, the related Non-Lead
Master Servicer, the related Non-Lead Special Servicer and the party designated to exercise the rights of the related “Non-Directing
Holder” under this Agreement), accompanied by a copy of such executed Non-Lead Securitization Servicing Agreement and (ii) notice
of any subsequent change in the identity of the related Non-Lead Master Servicer or the party designated to exercise the rights of the
related “Non-Directing 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 related
Non-Lead Securitization Servicing Agreement; and

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

(d)              
Each Initial Note Holder shall:

(A) give each other
Holder and the parties to any previously executed Securitization Servicing Agreement (provided that such Securitization Servicing Agreement
has been delivered to such Initial Note Holder) notice of the Securitization of such Holder’s Note in writing (which may be by e-mail)
prior to or promptly following the related Securitization Date, together with contact information for each of the parties to the related
proposed Securitization Servicing Agreement; and

(B) 
in the case of an Initial Note Holder contributing its Note to a Lead Securitization, send to each other Holder and the parties
to each Non-Lead Securitization Servicing Agreement (that are not also party to the Lead Securitization Servicing Agreement) (x) on any
Lead Securitization Date, a copy (in EDGAR-compatible format) of the execution version of the Lead Securitization Servicing Agreement,
(y) within (1) one Business Day after the date of any re-filing by the Lead Depositor of the Lead Securitization Servicing Agreement with
the Commission to account for any changes thereto (other than a formal amendment thereto following the Lead Securitization Date), a copy
(in EDGAR-compatible format) of the re-filed Lead Securitization Servicing Agreement, and (z) promptly following distribution thereof
to the parties to the Lead Securitization Servicing Agreement, any changes made by the Lead 

    	 	-38-	 

     

    

Depositor to the Lead Securitization Servicing
Agreement (other than a formal amendment thereto following the Lead Securitization Date).

(e)               
The Lead Securitization Servicing Agreement shall satisfy Moody’s rating methodology for eligible accounts and permitted
investments for a securitization rated “Aaa” by Moody’s.

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

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

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

22.             
Counterparts. This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same instrument, and the words “executed,” “signed,”
“signature,” and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement
or document related to this transaction shall include, in addition to manually executed signatures, images of manually executed signatures
transmitted by facsimile or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”)
and other electronic signatures (including, without limitation, any electronic sound, symbol, or process, attached to or logically associated
with a contract or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures
and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received,
or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use
of a paper-based record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures
in Global and National Commerce Act, the New York State Electronic 

    	 	-39-	 

     

    

Signatures and Records Act and any other applicable law, including,
without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

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

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

25.             
Custody of Mortgage Loan Documents/ Mortgagee of Record. The originals of all of the Mortgage Loan Documents (other than
Non-Lead Notes) will be held (i) prior to the Lead Securitization, by Wells Fargo Bank, National Association, as interim custodian and
(ii) on and after the Lead Securitization, by the Trustee for the Lead Securitization (or by a custodian on its behalf) under the terms
of the Lead Securitization Servicing Agreement on behalf of all of the Holders. The Trustee of the Lead Securitization shall at all times
be the mortgagee of record with respect to the Mortgage Loan.

[NO FURTHER TEXT ON THIS PAGE]

 

    	 	-40-	 

     

    

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

 

	 	Note A-1-1 Holder, Note A-1-2 Holder
and Note A-1-3 Holder:
	 	 
	 	CITI REAL ESTATE FUNDING INC.
	 	 
	 	By:  	/s/ Richard
    Simpson
	 	 	Name:  	Richard Simpson
	 	 	Title:	Vice President
	 	 	 	 

 

	 	Note
A-2-1 Holder, Note A-2-2 Holder and Note A-2-3 Holder:
	 	 
	 	DBR
INVESTMENTS CO. LIMITED
	 	 
	 	By:  	 /s/ Natalie Grainger
	 	 	Name:  	 Natalie Grainger
	 	 	Title:	Director
	 	 	 	 

	 	 
	 	 
	 	By:  	 /s/ Matt T.
    Smith
	 	 	Name:  	Matt T.
    Smith
	 	 	Title:	Director
	 	 	 	 

 

 

Huntsville Office Portfolio Co-Lender Agreement

    	 	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan

	Borrower:	JU Huntsville CRP I Owner LLC and JU Huntsville CRP III Owner LLC
	Mortgage Loan Origination Date:  	July 20, 2021
	Initial Principal Amount of Mortgage Loan:	$80,000,000
	Co-Lender Closing Date Mortgage Loan Principal Balance:	$80,000,000
	Location of Mortgaged Property:	Huntsville, Alabama
	Current Use of Mortgaged Property:	Office
	Maturity Date:	August 6, 2031

 

    	 	A-1	 

     

    

B.       Description of Notes

	Mortgage Loan Origination Date:	July 20, 2021
	Note Date:	July 26, 2021
	Initial Note A-1-1 Principal Balance:	$15,000,000
	Initial Note A-1-2 Principal Balance:	$15,000,000
	Initial Note A-1-3 Principal Balance:	$10,000,000
	Initial Note A-2-1 Principal Balance:	$15,000,000
	Initial Note A-2-2 Principal Balance:	$15,000,000
	Initial Note A-2-3 Principal Balance:	$10,000,000
	Initial Note A-1-1 Percentage Interest:	18.75%
	Initial Note A-1-2 Percentage Interest:	18.75%
	Initial Note A-1-3 Percentage Interest:	12.50%
	Initial Note A-2-1 Percentage Interest:	18.75%
	Initial Note A-2-2 Percentage Interest:	18.75%
	Initial Note A-2-3 Percentage Interest:	12.50%
	Interest Rate for Note A-1-1, Note A-1-2, Note 

A-1-3, Note A-2-1, Note A-2-2 and Note A-2-3:	3.41%
	Default Interest Rate for Note A-1-1, Note A-1-2, Note A-1-3, Note A-2-1, Note A-2-2 and Note 

A-2-3:	Lesser of (a) the maximum legal rate or (b) five percent (5%) above the Note Interest Rate

 

    	 	A-2	 

     

    

EXHIBIT B

Note A-1-1 Holder, Note A-1-2 Holder and Note A-1-3 Holder:

 

Citi Real Estate Funding Inc.

388 Greenwich Street, 6th Floor

New York, New York 10013

Attention: Richard Simpson

Facsimile number: (646) 328-2943

 

with an electronic copy emailed to: richard.simpson@citi.com

 

with copies to:

 

Citi Real Estate Funding Inc.

390 Greenwich Street, 5th Floor

New York, New York 10013

Attention: Raul Orozco

Facsimile number: (347) 394-0898

 

with an electronic copy emailed to: raul.d.orozco@citi.com

 

and

 

Citi Real Estate Funding Inc.

388 Greenwich Street, 17th Floor

New York, New York 10013

Attention: Ryan M. O’Connor

Facsimile number: (646) 862-8988

 

with an electronic copy emailed to: ryan.m.oconnor@citi.com

Note A-2-1 Holder, Note A-2-2 Holder and Note A-2-3 Holder:

DBR Investments Co. Limited

60 Wall Street, 10th Floor

New York, New York 10005

Attention: Robert W. Pettinato, Jr.

Facsimile No.: (212) 797-4489

E-mail: Robert.Pettinato@db.com

with a copy to:

DBR Investments Co. Limited

60 Wall Street, 10th Floor

New York, New York 10005

Attention: General Counsel

Facsimile No. (646) 736-5721

    	 	B-1	 

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

Westbrook Partners

iStar Financial Inc.

Capital Trust

Archon Capital, L.P.

Whitehall Street Real Estate Fund, L.P.

The Blackstone Group

Normandy Real Estate Partners

Dune Real Estate Partners

AllianceBernstein

Rockwood

RREEF Funds

Hudson Advisors

Artemis Real Estate Partners

Apollo Real Estate Advisors

Colony Capital, Inc.

Praedium Group

Fortress Investment Group, LLC

Lonestar Opportunity Funds

Clarion Partners

Walton Street Capital, LLC

Starwood Financial Trust

BlackRock, Inc.

Eightfold Real Estate Capital, L.P.

DLJ Real Estate Capital Partners

Land-Lease Real Estate Investments

JER Partners

Rialto Capital Management

Raith Capital Partners

Torchlight Investors, LLC

 

 

    	 	C-1Exhibit
4.9 

 

EXECUTION
VERSION

 

AGREEMENT
BETWEEN NOTEHOLDERS

 

Dated
as of May 24, 2021 by and among

 

GOLDMAN
SACHS BANK USA

(Initial Note A-1 Holder)

 

and

 

Argentic
real estate finance llc

(Initial Note A-2 Holder)

 

Woodbridge
Corporate Plaza Leased Fee

 

     

     

    

 

THIS
AGREEMENT BETWEEN NOTEHOLDERS, dated as of May 24, 2021 by and between GOLDMAN SACHS
BANK USA (together with its successors and assigns in interest, “GSBI”), a New York state-chartered
bank (in its capacity as initial owner of Note A-1, the “Initial Note A-1 Holder”, and in its capacity as the
initial agent, the “Initial Agent”), and Argentic real estate finance
llc (together with its successors and assigns in interest, “Argentic”),
a Delaware limited liability company (in its capacity as initial owner of Note A-2, the “Initial Note A-2 Holder”,
and together with the Initial Note A-1 Holder, the “Initial Noteholders”).

 

W I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), GSBI originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage
loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was originally
evidenced, inter alia, by a promissory note in the amount of $50,000,000 (as amended, modified or supplemented,
the “Original Note”) made by the Mortgage Loan Borrower in favor of GSBI and secured by a first mortgage (as
amended, modified or supplemented, the “Mortgage”) on certain real property located as described on the Mortgage
Loan Schedule (the “Mortgaged Property”).

 

WHEREAS,
the Original Note was replaced with two (2) promissory notes (as amended, modified or supplemented, each a “Note”)
made by the Mortgage Loan Borrower in favor of the applicable Initial Noteholder having the designations, principal balances and
Initial Noteholder as set forth in the chart below. Each Note shall be referred to herein by its “Note Designation”
as set forth in the chart below.

 

	Note
                                         Designation 
	Initial
                                         Noteholder 
	Original
                                         Principal Balance 

	Note
    A-1 	GSBI	$27,500,000
	Note
    A-2 	Argentic	$22,500,000

 

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

 

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

 

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

 

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

 

    

     

    

 

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

 

“Advances”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement
or Non-Lead Securitization Servicing Agreement, as applicable (but for purposes hereof shall be limited to Advances in respect
of the Mortgage Loan or the Mortgaged Property).

 

“Affiliate”
shall mean with respect to any specified Person (i) any other Person Controlling or Controlled by or under common Control
with such specified Person (each a “Common Control Party”), (ii) any other Person owning, directly or
indirectly, ten percent (10%) or more of the beneficial interests in such Person or (iii) any other Person in which such
Person or a Common Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after
the date of the First Securitization 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 Goldman Sachs Bank USA, 200 West Street, New York, New York 10282, Attention: Leah Nivison, 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 Noteholders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

 

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

 

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

 

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

 

“Asset
Representations Reviewer” shall mean the asset representations reviewer appointed pursuant to the Lead Securitization
Servicing Agreement.

 

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

 

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

 

    2

     

    

 

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

 

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

 

“Borrower
Party” shall mean (i) a Mortgage Loan Borrower, manager of a Mortgaged Property or an Affiliate thereof, or (ii) a holder
or beneficial owner of (or an Affiliate of any holder or beneficial owner of) a mezzanine loan, secured by a pledge of the direct
(or indirect) equity interests in the borrower under that mortgage loan or loan combination, if such mezzanine loan either (a)
has been accelerated or (b) is the subject of foreclosure proceedings against the equity collateral pledged to secure that mezzanine
loan. Solely for the purposes of the definition of “Borrower Party”, the term “Affiliate” means, with
respect to any specified person, (i) any other person controlling or controlled by or under common control with such specified
person or (ii) any other person that owns, directly or indirectly, 25% or more of the beneficial interests in such specified person.

 

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

 

“CDO
Asset Manager” with respect to any Securitization Vehicle which is a CDO, shall mean the entity which is responsible
for managing or administering the applicable 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 the applicable Note).

 

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

 

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

 

“Collection
Account” shall mean the trust account or accounts (including any sub-accounts) created and maintained by the Servicer.

 

“Commission”
means the U.S. Securities and Exchange Commission or any successor thereto.

 

“Companion
Distribution Account” shall have the meaning assigned to such term or the term “Serviced Whole Loan Custodial
Account” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

    3

     

    

 

“Control”
means 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.

 

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

 

“Controlling
Noteholder” shall mean as of any date of determination the holder or holders of a majority of Note A-1; provided
that, at any time Note A-1 is included in a Securitization, references to the “Controlling Noteholder” herein
shall mean the holders of the majority of the class of securities issued in such Securitization designated as the “controlling
class” (or such lesser amount as permitted under the terms of the related Servicing Agreement) or such other class(es) otherwise
assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided
in the related Servicing Agreement; provided, further, if at any time 50% or more of Note A-1 (or class of securities issued in
any Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights
to exercise the rights of the “Controlling Noteholder”) is held by a Borrower Party, then no person shall be entitled
to exercise the rights of the Controlling Noteholder. If Note A-1 is included in a Securitization, the related Servicing
Agreement may contain additional limitations on the rights of the designated party entitled to exercise the rights of the “Controlling
Noteholder” hereunder if such designated party is the Mortgage Loan Borrower or if it has certain relationships with the
Mortgage Loan Borrower.

 

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

 

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

 

“Default
Interest” shall mean with respect to any Note, interest on such Note at a rate per annum equal to interest accrued thereon
at the Default Rate in excess of the Interest Rate applicable to such Note.

 

“Default
Rate” shall mean, with respect to the Mortgage Loan, the “Default Rate” as defined in the Mortgage Loan
Documents (or such other analogous term used in the Mortgage Loan Documents).

 

“Defaulted
Mortgage Loan” shall have the meaning assigned to such term in the Servicing Agreement.

 

“Depositor”
shall mean the Person selected by the Lead Securitization Noteholder to create the Securitization Trust.

 

“Event
of Default” shall mean, with respect to the Mortgage Loan, an “Event of Default” as defined in the Mortgage
Loan Documents (or such other analogous term used in the Mortgage Loan Documents).

 

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

 

    4

     

    

 

“First
Securitization” shall mean the earliest to occur of the Note A-1 Securitization and the Note A-2 Securitization.

 

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

 

“Indemnified
Items” shall mean, collectively, any claims, losses, penalties, fines, forfeitures, reasonable legal fees and related
costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the servicing and administration
of the Mortgage Loan and the Mortgaged Property (or, with respect to the Operating Advisor, incurred in connection with the provision
of services for the Mortgage Loan) under the Servicing Agreement.

 

“Indemnified
Parties” shall mean, collectively, (i) as and to the same extent the Lead Securitization Trust is required to indemnify
each of the following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the
Servicing Agreement, each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor, the Asset Representations Reviewer and the Depositor (and any director, officer, employee or agent of any of the foregoing,
to the extent such parties are identified as indemnified parties in the Servicing Agreement in respect of other mortgage loans)
and (ii) the Lead Securitization Trust.

 

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

 

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

 

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

 

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

 

“Initial
Noteholder” shall mean (i) with respect to Note A-1, the Initial Note A-1 Holder and (ii) with respect to
Note A-2, the Initial Note A-2 Holder.

 

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

 

“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

 

    5

     

    

 

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.

 

“Insurance
and Condemnation Proceeds” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous
term used in the Servicing Agreement.

 

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

 

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

 

“Intervening
Trust Vehicle” with respect to any Securitization Vehicle that is a CDO, shall mean a trust vehicle or entity which
holds the applicable 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., or its successor in interest.

 

“Lead
Securitization” shall mean (a) if the First Securitization is also the Note A-1 Securitization, such First Securitization
and (b) if the First Securitization is not also the Note A-1 Securitization, then (i) for the period from the closing date of
the First Securitization until the Securitization of Note A-1, the First Securitization and (ii) on and after the Securitization
of Note A-1, the Note A-1 Securitization.

 

“Lead
Securitization Date” shall mean the closing date of the Lead Securitization.

 

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

 

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

 

“Lead
Securitization Servicing Agreement” shall mean, as of any date of determination, a pooling and servicing agreement,
subject to Section 2 hereof, to be entered into in connection with the Lead Securitization, by and among (a) the
Person who serves as Trustee from and after the Lead Securitization Date, (b) the Person who serves as Master Servicer from
and after the Lead Securitization Date, (c) the Person which serves as Special Servicer from and after the Lead Securitization
Date, (d) the Person who serves as Operating Advisor from and after the Lead Securitization Date and (e) the Depositor, and
any other additional Persons that may be

 

    6

     

    

 

party
to such pooling and servicing agreement; provided it is acknowledged that such agreement is subject in all respects to changes
(i) required by the Code relating to the tax elections of the related Securitization Trust (ii) required by law or changes
in any law, rule or regulation and (iii) requested by the Rating Agencies or any purchaser of subordinate certificates. 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 Noteholder.

 

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

 

“Liquidation
Fees” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the
Servicing Agreement.

 

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

 

“Major
Decisions” shall have the meaning given to such term or any one or more analogous terms in the Servicing Agreement;
provided that at any time that a Note 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 Documents 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 Documents, 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 Servicing Agreement);

 

(v)     any
determination to bring a Mortgaged Property or an REO Property into compliance with applicable environmental laws or to otherwise
address any Hazardous Materials (as defined in the 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

 

    7

     

    

 

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 or any determination not to enforce a “due-on-sale” or “due-on-encumbrance” clause with respect
to the Mortgage Loan or any consent to such a waiver or any consent to a transfer of all or any portion of the Mortgaged Property
or of any direct or indirect legal or beneficial interests in the Mortgage Loan Borrower;

 

(viii)  any
incurrence of additional debt by the Mortgage Loan Borrower or any mezzanine financing by any direct or indirect beneficial owner
of the Mortgage Loan 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;

 

(x)      any
property management company changes, including, without limitation, approval of a new property manager or the termination of a
manager and appointment of a new property manager or franchise changes, and any new management agreement or amendment, modification
or termination of any management agreement (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;

 

(xiv)  any
determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances where the Master
Servicer determines, in its reasonable business judgment, exercised in accordance with the Servicing Standard, that a default
consisting of a failure to make a payment of principal or interest is reasonably foreseeable or there is a significant risk of
such default or any other default that is likely to impair the use or marketability of the Mortgaged Properties or such other
analogous event described in the definition of Servicing Transfer Event; or

 

    8

     

    

 

(xv)   any
modification, waiver or amendment of any lease, the execution of any new lease or the granting of a subordination and nondisturbance
or attornment agreement in connection with any lease, at a Mortgaged Property if it would be a Major Lease (as defined in the
Mortgage Loan Agreement).

 

“Master
Servicer” shall mean the master servicer appointed pursuant to the Servicing Agreement.

 

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

 

“Morningstar”:
Morningstar Credit Ratings, LLC, or any of its successors in interest, assigns, and/or changed entity name or designation resulting
from any acquisition by Morningstar, Inc. or other similar entity of Realpoint LLC.

 

“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 May 24, 2021, between the Mortgage Loan Borrower, as borrower,
and GSBI and Argentic, as lenders, 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 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 given thereto in the recitals.

 

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

 

“Net
Interest Rate” shall mean with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable
to such Note.

 

“Non-Controlling
Note” shall mean the interest of each Non-Controlling Noteholder in its Note.

 

“Non-Controlling
Noteholder” shall mean each Noteholder other than the Controlling Noteholder; provided that, if at any time 50%
or more of a Non-Controlling Note (or class of securities issued in any Securitization that includes such Non-Controlling Note
designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights
of such “Non-Controlling Noteholder”) is held by a Borrower Party, then no Person shall be entitled to exercise the
rights of such Non-Controlling Noteholder with respect to such Non-Controlling Note.

 

    9

     

    

 

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

 

“Non-Lead
Certificate Administrator” shall mean the “certificate administrator” or such other analogous term under
a Non-Lead Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead
Securitization Noteholder” shall mean each Noteholder of a Non-Lead Securitization Note, provided that at any
time a Note that is not the Lead Securitization Note is included in a Securitization other than the Lead Securitization, references
to the “Non-Lead Securitization Noteholder” herein shall mean the Non-Lead Securitization Subordinate Class Representative
under the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement and as to the identity of which the Lead Securitization Noteholder (and the Master Servicer and the Special
Servicer) has been given written notice. The Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting
on its behalf) shall not be required at any time to deal with more than one party exercising the rights of a “Non-Lead Securitization
Noteholder” herein or under the Servicing Agreement and, to the extent that the related Non-Lead Securitization Servicing
Agreement assigns such rights to more than one party, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement
shall designate one party to deal with the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting
on its behalf) and provide written notice of such designation to the Lead Securitization Noteholder (and the Master Servicer and
the Special Servicer acting on its behalf) (such party, the “Non-Lead Securitization Noteholder Representative”);
provided that, in the absence of such designation and notice, the Lead Securitization Noteholder (or the Master Servicer
or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received written notice
as having been designated as the Non-Lead Securitization Noteholder Representative with respect to such Non-Controlling Note for
all purposes of this Agreement.

 

    10

     

    

 

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

 

“Non-Lead
Securitization Noteholder Representative” shall have the meaning assigned to such term in the definition of “Non-Lead
Securitization Noteholder”.

 

“Non-Lead
Securitization Servicing Agreement” shall mean the servicing agreement for the related Non-Lead Securitization.

 

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

 

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

 

“Non-Lead
Special Servicer” shall mean the “special servicer” under a Non-Lead Securitization.

 

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

 

    11

     

    

 

“Nonrecoverable
Property Protection Advance” shall have the meaning assigned to the term in the Servicing Agreement or such other analogous
term used in the Servicing Agreement.

 

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

 

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

 

“Note
Register” shall have the meaning assigned to such term in Section 16.

 

“Noteholder”
shall mean with respect to any Note, the Initial Noteholder thereof, or any subsequent holder of such Note, together with its
successors and assigns.

 

“Operating
Advisor” shall mean the operating advisor appointed pursuant to the Lead Securitization Servicing Agreement.

 

“Payment
Date” shall have the meaning assigned to such term in the Mortgage Loan Documents (or such other analogous term used
in the Mortgage Loan Documents).

 

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

 

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

 

“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit
C attached hereto and made a part hereof or any other a nationally-recognized manager of investment funds investing in debt
or equity interests relating to commercial real estate, (ii) investing through a fund or funds with committed capital of
at least $500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief
of debtors.

 

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

 

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

 

“Prepayment
Premium” shall mean, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance
premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan
Documents, including any exit fee.

 

“Principal
Balance” with respect to any Note as of any date of determination shall mean the initial principal balance set forth
on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Section 3
or Section 4, as applicable.

 

“Pro
Rata and Pari Passu Basis” shall mean with respect to the Notes and the Noteholders, the allocation of any particular
payment, collection, cost, expense, liability or other

 

    12

     

    

 

amount
among the Notes or the related Noteholders, as the case may be, without any priority of any Note or any such Noteholder over another
Note or Noteholder, as the case may be, and in any event such that each Note or such Noteholder, as the case may be, is allocated
its respective pro rata portion of such particular payment, collection, cost, expense, liability or other amount.

 

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

 

“Qualified
Institutional Lender” shall mean each of the Initial Noteholders (and any Affiliates and subsidiaries of such entity)
and any other Person that is:

 

(a)   
an entity Controlled (as defined below) by, under common Control with or Controlling any Initial Noteholder, or

 

(b)  
one or more of the following:

 

(i)      a
real estate investment bank, an insurance company, reinsurance trust, 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 (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns or pledges
its Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization
of, (b) the creation of collateralized debt obligations (“CDO”) secured by, or (c) a financing through an “owner
trust” of, a Note (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies
which assigned a rating to one or more classes of securities issued in connection with such securitization (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 to such Securitization Vehicle); (2)
in the case of a Securitization Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required
Special Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note 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

 

    13

     

    

 

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 clause (i), (ii), (iii), (iv) or (v)
of this definition, or

 

(iv)    an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $500,000,000, in which (A) the applicable Noteholder, (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
entity substantially similar to any of the foregoing, or

 

(vi)    a
Person that is otherwise a Qualified Institutional Lender but is acting in an agency capacity for a syndicate of lenders where
at least 51% of the lenders in such syndicate are otherwise Qualified Institutional Lenders under clauses (b)(i), (ii),
(iv), (v) and (vi) above, or

 

(c)   
any entity Controlled (as defined below) by any of the entities described in clause (b) above or approved by the Rating
Agencies hereunder as a Qualified Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have
stated they would not review such entity in connection with the subject transfer;

 

provided
that, in the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii)(a), (b)(iv)(B)
or (b)(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, asset manager 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 junior CMBS securities
or owning or operating commercial real estate properties; provided that, in the case of the entity described in clause (iv)(B)
of this definition, 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.

 

For
purposes of this definition only, “Control” means 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 “Controlling” have the meaning
correlative thereto).

 

    14

     

    

 

“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 any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS, (e) KBRA and (f) Morningstar or, (g)
if any of such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally
recognized statistical rating agency reasonably designated by the Depositor or Non-Lead Depositor to rate the securities issued
in connection with the Securitization of any Note; provided, however, that, at any time during which any Note is an asset of one
or more Securitizations, “Rating Agencies” or “Rating Agency” shall mean only those rating agencies that
are engaged by the Depositor or Non-Lead Depositor, as applicable, from time to time to rate the securities issued in connection
with the Securitization of such Note.

 

“Rating
Agency Confirmation” shall mean, after a Securitization, the meaning given thereto or any analogous term in the Servicing
Agreement including any deemed Rating Agency Confirmation.

 

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

 

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

 

“Relative
Spread” with respect to any Note and any date of determination shall mean the ratio of the Interest Rate of such Note
to the weighted average as of such date of determination (prior to taking into account any payments made on account of principal
as of such date) of the Interest Rates on all the Notes based on their Principal Balances.

 

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

 

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

 

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

 

    15

     

    

 

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

 

“Risk
Retention Requirements” shall mean the credit risk retention requirements of Section 15G of the Exchange Act (15
U.S.C. §78o-11), as added by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

 

“Risk
Retention Rules” shall mean the joint final rule that was promulgated to implement the Risk Retention Requirements (which
such joint final rule has been codified, inter alia, at 17 C.F.R. § 246), as such rule may be amended from time to
time, and subject to such clarification and interpretation as have been provided by the Office of the Comptroller of the Currency,
the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency,
the Commission and the Department of Housing and Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.) or by
the staff of any such agency, or as may be provided by any such agency or its staff from time to time, in each case, as effective
from time to time as of the applicable compliance date specified therein.

 

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

 

    16

     

    

 

“Securities
Act” shall mean the Securities Act of 1933, as amended.

 

“Securitization”
shall mean one or more sales by the holder of a Note 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
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which any Note is held.

 

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

 

“Servicing
Agreement” shall mean the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing Agreement,
as applicable, together with any amendment, restatement, supplement, replacement or modification thereto entered into in accordance
with the terms hereof or thereof.

 

“Servicing
Fee Rate” shall be the per annum rate at which primary servicing fees are payable in respect of the Mortgage Loan as
set forth in the Servicing Agreement. The Servicing Fee Rate shall not reflect any master servicing fees payable by any Noteholder.

 

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

 

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

 

“Special
Servicer” shall mean the special servicer appointed pursuant to the Servicing Agreement and this Agreement.

 

“Special
Servicing Fees” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term
used in the Servicing Agreement.

 

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

 

“Substitute
Servicing Agreement” means a servicing agreement that contains servicing provisions which are the same as or more favorable
to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable
provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable
reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing
Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is
in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent
servicing agreement.

 

    17

     

    

 

“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 mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement, excluding a repurchase financing or a Pledge in accordance with Section 14(e)).

 

“Trustee”
shall mean the trustee appointed pursuant to 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 that is eligible to elect to be treated as a U.S. Person).

 

“Withheld
Amounts” shall have the meaning assigned to such term in Section 3.

 

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

 

“Workout
Fees” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the
Servicing Agreement.

 

Section 2.         Servicing.

 

(a)   
Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced pursuant to this
Agreement and the Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments
of principal or interest in respect of the Notes other than for any Note in the Lead Securitization (and a Non-Lead Master Servicer
may be required to advance monthly payments of principal and interest on a Non-Lead Securitization Note pursuant to the terms
of the Non-Lead Securitization Servicing Agreement) 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 Servicing
Agreement (including a determination of recoverability thereunder). Each Noteholder acknowledges that each Initial Noteholder
may elect, in its sole discretion, to include the related Note in a Securitization and agrees that it will reasonably cooperate
with such other Noteholder, at such other Noteholder’s expense, to effect such Securitization. Subject to the terms and
conditions of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment of the Master
Servicer, the

 

    18

     

    

 

Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee under the Servicing Agreement by the
Depositor, and the appointment of the Special Servicer as the initial Special Servicer under the Servicing Agreement by the Depositor
(subject to replacement by the Controlling Noteholder as provided herein) and agrees to reasonably cooperate with the Master Servicer
and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with this Agreement and the Servicing
Agreement. Each Noteholder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization
as such Noteholder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing
of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all times to the rights of the Noteholders set forth
herein and in the Servicing Agreement). In no event shall the Servicing Agreement require any Servicer to enforce the rights of
any Noteholder against any other Noteholder or limit any Servicer in enforcing the rights of one Noteholder against any other
Noteholder; however, this statement shall not be construed to otherwise limit the rights of one Noteholder with respect to any
other Noteholder. Each Servicer shall be required pursuant to the Servicing Agreement to service the Mortgage Loan in accordance
with the Servicing Standard, this Agreement, the terms of the Mortgage Loan Documents, the Servicing Agreement, any intercreditor
agreement and applicable law, and shall not take any action or refrain from taking any action or follow any direction inconsistent
with the foregoing.

 

(b)  
The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent
provided in the Lead Securitization Servicing Agreement) (i) shall be required to make Property Protection 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 principal and interest Advances on any Note in the Lead Securitization, if and to the extent provided in the
Lead Securitization Servicing Agreement and this Agreement. The Master Servicer or Trustee shall be required to provide written
notice to the Non-Lead Master Servicer and the Non-Lead Trustee of any principal and interest Advance it has made with respect
to the Lead Securitization Note within two (2) Business Days of making such Advance. The Master Servicer, the Special Servicer
and the Trustee, as applicable, will be entitled to reimbursement for a Property Protection Advance, first from funds on deposit
in each of the Collection Account and the Companion Distribution Account that (in any case) represent amounts received on or in
respect of the Mortgage Loan in the manner provided in the Lead Securitization Servicing Agreement, and then, in the case of Nonrecoverable
Property Protection Advances, if such funds on deposit in the Collection Account and 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 Property Protection Advance or a Nonrecoverable Property Protection
Advance, in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections
of the Lead Securitization and from general collections of the Non-Lead Securitization as provided below. Notwithstanding the
foregoing, to the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections
of the Lead Securitization as a reimbursement for a Nonrecoverable Property Protection Advance or any Advance Interest Amounts
on a Property Protection Advance or a Nonrecoverable Property Protection Advance, the Non-Lead Securitization Noteholder (including
from general collections

 

    19

     

    

 

or
any other amounts from the Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer,
reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Property Protection Advance or Advance
Interest Amounts. If the Master Servicer or the Special Servicer determines that a proposed principal and interest Advance with
respect to the Lead Securitization Note or Property Protection Advance with respect to the Mortgage Loan, if made, or any outstanding
principal and interest Advance or Property Protection Advance previously made, would be, or is, as applicable, a Nonrecoverable
Advance (as defined in the Lead Securitization Servicing Agreement), the Master Servicer shall provide the Non-Lead Master Servicer
written notice of such determination promptly after such determination was made together with such reports that were delivered
to the Master Servicer, Special Servicer or Trustee, as applicable, in connection with notification of its determination of nonrecoverability.

 

In
addition, the Non-Lead Securitization Noteholder (including, but not limited to, the 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 Noteholder’s pro rata share of any additional trust fund expenses with respect to the Mortgage
Loan or the Mortgaged Property, any other fees, costs or expenses incurred in connection with the servicing and administration
of the Mortgage Loan and allocable to the Noteholders pursuant to this Agreement and 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 fees, costs or expenses related to obtaining a Rating
Agency Confirmation and allocated to the Noteholders, in each case to the extent amounts on deposit in the Companion Distribution
Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts (which such
reimbursement shall be made, 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 Non-Lead Securitization Noteholder agrees to indemnify
(as and to the same extent the Lead Securitization Trust is required to indemnify each of the Indemnified Parties against any
Indemnified Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in
the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of
such amounts, the Non-Lead Securitization Noteholder 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
Non-Lead Master Servicer may be required to make principal and interest Advances on a Non-Lead Securitization Note, from time
to time, subject to the terms of the Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement
and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their
own recoverability determination with respect to a principal and interest Advance to be made on the Lead Securitization Note based
on the information that they have on hand and in accordance with the Lead Securitization Servicing Agreement. The Non-Lead Master
Servicer and the Non-Lead Special Servicer and the Non-Lead Trustee, as applicable, shall be entitled to make their own recoverability
determination with respect to a principal and interest Advance to be made on a Non-Lead Securitization Note based on the information
that they have

 

    20

     

    

 

on
hand and in accordance with the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable,
and the Non-Lead Master Servicer or the Non-Lead Trustee shall be required to notify each other servicer and trustee with respect
to a Securitization of the amount of its principal and interest Advance within two (2) Business Days of making such Advance. If
the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note) or the
Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization
Note), determines that a proposed principal and interest Advance, if made, would be non-recoverable or an outstanding principal
and interest Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable,
subsequently determines that a proposed Property Protection Advance would be non-recoverable or an outstanding Property Protection
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 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,
within two (2) Business Days of making such determination. Each of the Master Servicer, the Trustee, the Non-Lead Master Servicer
and the Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a principal and interest Advance that becomes
non-recoverable and Advance Interest Amounts thereon first from the Collection Account or the Companion Distribution Account from
amounts allocable to the Mortgage Loan for which such principal and interest 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 Non-Lead Securitization Trust, as and to the extent provided in the Non-Lead Securitization Servicing Agreement.

 

(c)   
At any time after the Lead Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the
Lead Securitization Servicing Agreement, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced in accordance
with the servicing provisions set forth in the Lead Securitization Servicing Agreement or a Substitute Servicing Agreement as
if such agreement was still in full force and effect with respect to the Mortgage Loan; provided, however, that the Servicer under
the Lead Securitization Servicing Agreement shall have no further obligations to advance monthly payments of principal or interest
except as specifically agreed to by the Servicer; provided, further, however, that until a replacement servicing agreement is
in place, the actual servicing of the Mortgage Loan may be performed by any nationally recognized commercial mortgage loan servicer
appointed by Lead Securitization Noteholder and the special servicer appointed by the Controlling Noteholder and does not have
to be performed by the service providers set forth under the Lead Securitization Servicing Agreement; provided, further, however,
that until a replacement servicing agreement has been entered into, if a Non-Lead Securitization Note becomes the subject of an
Asset Review pursuant to the related Non-Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer, the
Trustee and the Custodian shall reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection with such
Asset Review by providing the Non-Lead Asset Representations Reviewer with any documents reasonably requested by the Non-Lead
Asset

 

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Representations
Reviewer, but only to the extent (x) such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee
or the Custodian, as the case may be, and (y) the Non-Lead Asset Representations Reviewer has not been able to obtain such documents
from the related mortgage loan seller.

 

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

 

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

 

(i)         if
an event of default under the Servicing Agreement has occurred (A) with respect to the Master Servicer under the Servicing Agreement
that affects a Noteholder or any class of commercial mortgage securities backed by a Note, and the Master Servicer is not otherwise
terminated under the Servicing Agreement, then the Non-Lead Securitization Noteholders shall be entitled to direct the Trustee
to appoint a sub-servicer solely with respect to the Mortgage Loan (or if the Mortgage Loan is currently being sub-serviced, to
replace the current sub-servicer, but only if such original sub-servicer is in default under the related sub-servicing agreement);
and (B) the appointment (or replacement) of a sub-servicer with respect to the Mortgage Loan, as contemplated in clause (A)
above, will in any event be subject to written confirmation from each Rating Agency that such appointment would not, in and
of itself, cause a downgrade, qualification or withdrawal of the then-current ratings assigned to the securities issued in connection
with any Securitization;

 

(ii)        any
payments received on the Mortgage Loan shall be paid by the Master Servicer (a) to each of the Noteholders (other than the Non-Lead
Securitization Noteholders) on the “master servicer remittance date” under the Servicing Agreement and (b) by the
earlier of (x) the Master Servicer Remittance Date (as defined in the Lead Securitization Servicing Agreement) and (y) the Business
Day following the “determination date” (or any term substantially similar thereto) as defined in the Non-Lead Securitization
Servicing Agreement, in each case as long as the date on which remittance is required under this clause (ii) is at least
one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

 

(iii)       each
Non-Lead Noteholder shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide access to, any
information relating to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as such Non-Lead Noteholder may
reasonably request and would be customarily in the possession of, or collected or known by, the Master Servicer or the Special
Servicer of mortgage loans similar to the Mortgage Loan and, in any event, all information that is required to be provided to
holders of the securities issued by the Lead Securitization Trust that includes but is not limited to standard CREFC reports and
Asset Status Reports, provided that if an interest in the requesting Noteholder or its related Note is held by a Borrower Party,
then such requesting Noteholder shall not be entitled to receive the Asset Status Report or any other information relating to
the Special Servicer’s workout strategy or any “excluded information” or analogous term under the Servicing
Agreement;

 

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

 

(v)       the
Servicing Agreement may not be amended without the consent of each Non-Lead Noteholder if such amendment would be materially adverse
to such Non-Lead Noteholder or would materially adversely affect the Mortgage Loan or any Non-Lead Noteholder’s rights with
respect thereto or would alter any term that is defined herein by reference to the Servicing Agreement in a manner that is materially
adverse to a Non-Lead Noteholder;

 

(vi)      the
Special Servicer selected by the Controlling Noteholder shall be named as the Special Servicer for the Mortgage Loan by the earlier
of (x) the closing of the Lead Securitization or (y) the Mortgage Loan becoming a Specially Serviced Mortgage Loan under any other
Servicing Agreement; provided, however, that such Special Servicer has the Required Special Servicer Rating of,
or otherwise be acceptable to, each of the Rating Agencies rating each Securitization;

 

(vii)     any
matter affecting the servicing and administration of the Mortgage Loan that requires delivery of a Rating Agency Confirmation
pursuant to the Servicing Agreement shall also require delivery of a Rating Agency Confirmation for each Non-Lead Securitization
Note and the applicable Rating Agencies.

 

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

 

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

 

    23

     

    

 

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 Noteholder’s
pro rata share of any such Nonrecoverable Property Protection Advances (together with Advance Interest Amounts 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
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 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, Non-Lead Trustee or Non-Lead Certificate Administrator will be required to deliver to the Trustee, the
Certificate Administrator, the Special Servicer, the Master Servicer and the Operating Advisor (i) promptly following the Non-Lead
Securitization, notice of the deposit of the Non-Lead Securitization Note into a Securitization Trust (which notice may be (x)
in the form of delivery (which may be by email) of a copy of the Non-Lead Securitization Servicing Agreement, or (y) by email
notification together with contact information for the Non-Lead Trustee, the Non-Lead Certificate Administrator, the Non-Lead
Master Servicer, the Non-Lead Special Servicer and the party designated to exercise the rights of the Non-Lead Securitization
Noteholder as a “Non-Controlling Noteholder” under this Agreement), accompanied by a certified copy of the executed
Non-Lead Securitization Servicing Agreement and (ii) notice of any subsequent change in the identity of the Non-Lead Master Servicer,
the Non-Lead Trustee or the party designated to exercise the rights of the Non-Lead Securitization Noteholder as a “Non-Controlling
Noteholder” under this Agreement (together with the relevant contact information) (which may be in the form of email delivery
of a copy of such notice); and

 

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

 

(g)   
Each Lead Securitization Noteholder shall:

 

(i)         give
each Non-Lead Securitization Noteholder notice of the Securitization of the Lead Securitization Note in writing (which may be
by email) promptly following the Lead Securitization Date, together with contact information for each of the parties to the Lead
Securitization Servicing Agreement; and

 

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(ii)       send
to each Non-Lead Securitization Noteholder and the parties to the related Non-Lead Securitization Servicing Agreement (that are
not also party to the Lead Securitization Servicing Agreement) (x) on or promptly following the Lead Securitization Date (to the
extent the applicable parties to the related Non-Lead Securitization Servicing Agreement have been engaged by the related Non-Lead
Depositor on or prior to the Lead Securitization Date), a copy (in EDGAR-compatible format) of the execution version of the Lead
Securitization Servicing Agreement, (y) within (1) one Business Day after the date of any re-filing by the Depositor of the Lead
Securitization Servicing Agreement with the Commission to account for any changes thereto (other than a formal amendment thereto
following the Lead Securitization Date), a copy (in EDGAR-compatible format) of the re-filed Lead Securitization Servicing Agreement,
and (z) promptly following distribution thereof to the parties to the Lead Securitization Servicing Agreement, any changes made
by the Depositor to the Lead Securitization Servicing Agreement (other than a formal amendment thereto following the Lead Securitization
Date).

 

(h)      
The Servicing Agreement shall provide that compensating interest payments as defined therein with respect to any Notes will be
allocated by the Master Servicer between the Notes, pro rata, in accordance with their respective Principal Balances. The
Master Servicer shall remit any compensating interest payment in respect of and Non-Lead Securitization Note to the applicable
Non-Lead Securitization Noteholder.

 

(i)       
In the event any filing is required to be made by any Non-Lead Depositor under the related Servicing Agreement in order to comply
with the Non-Lead Depositor’s requirements under the Securities Exchange Act of 1934, as amended, the related Lead Securitization
Noteholder (including the Depositor and Trustee) shall use commercially reasonable efforts to timely comply with any such filing.

 

(j)        
If a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing
Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with such Non-Lead
Asset Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer
with any documents reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent that such documents
are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and are
not in the possession of the Non-Lead Asset Representations Reviewer (and the Non-Lead Asset Representations Reviewer has informed
such party that it has first requested, and not received, the documents from the master servicer, special servicer and custodian
for the applicable Non-Lead Securitization).

 

Section 3.         Payments.
All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with
the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form of Periodic
Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument
securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements that are required
to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with
the terms of the Mortgage Loan Documents, to the extent permitted by the

 

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REMIC
Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent,
in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on
account of recoveries in respect of Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement
and (y) all amounts that are then due, payable or reimbursable to any Servicer (excluding master servicing fees, trustee fees,
certificate administrator fees, operating advisor fees and asset representations reviewer fees, all of which shall be payable
by each of the Noteholders to such parties out of distributions made to them in respect of such Note), with respect to the Mortgage
Loan pursuant to the Servicing Agreement (such amounts contemplated by clauses (x) and (y), “Withheld Amounts”),
shall be distributed by the Master Servicer in the following order of priority without duplication (and payments shall be made
at such times as are set forth in the Servicing Agreement):

 

(a)     first,
on a Pro Rata and Pari Passu Basis, to each Noteholder in an amount equal to the accrued and unpaid interest on the Principal
Balance for each Note at the applicable Net Interest Rate;

 

(b)     second,
on a Pro Rata and Pari Passu Basis based on the outstanding Principal Balances of each Note, to each Noteholder in an amount equal
to the principal payments received, if any, with respect to such Payment Date with respect to the Mortgage Loan, until such Principal
Balance for each Note has been reduced to zero;

 

(c)     third,
on a Pro Rata and Pari Passu Basis, to each Noteholder up to the amount of any unreimbursed costs and expenses paid by such Noteholder
including any unreimbursed trust fund expenses not previously reimbursed to such Noteholder (or paid or advanced by any Servicer
on its behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing
Agreement;

 

(d)     fourth,
on a Pro Rata and Pari Passu Basis, any Prepayment Premium, to the extent paid by the Mortgage Loan Borrower, shall be paid to
each Noteholder in an amount up to its pro rata interest therein, based on the product of the applicable Percentage Interest multiplied
by the applicable Relative Spread; and

 

(e)     fifth,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (a)-(d), any remaining amount shall be paid pro rata to each Noteholder in accordance with their
respective initial Percentage Interests.

 

All
expenses and losses relating to the Mortgage Loan and the Mortgaged Property, including without limitation losses of principal
and interest, Property Protection Advances, Advance Interest Amounts, Special Servicing Fees, Liquidation Fees and Workout Fees,
Appraisal Reduction Amounts and certain other trust expenses, shall be allocated on a Pro Rata and Pari Passu Basis. Any realized
losses (including reductions by a bankruptcy court) applied to reduce the principal balance of the Mortgage Loan shall be reimbursed
on a Pro Rata and Pari Passu Basis after all amounts of interest and principal have otherwise been paid in full on all the Notes.

 

Section 4.         Administration
of the Mortgage Loan.

 

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(a)   
Subject to this Agreement (including, without limitation, Section 4(f) below) and the Servicing Agreement and consistent
with the Servicing Standard, the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder)
shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect
to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan
Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents,
call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy and no other
Noteholder shall have any voting, consent or other rights whatsoever with respect to the Lead Securitization Noteholder’s
administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan, except as set forth in this Agreement
and the Servicing Agreement. Subject to this Agreement and the Servicing Agreement (including, without limitation, Section 4(f)
below) and consistent with the Servicing Standard, each Non-Lead Securitization Noteholder agrees that it shall have no right
to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or any Servicer acting on
behalf of the Lead Securitization Noteholder) the rights, if any, that such Non-Lead Securitization Noteholder has to (i) call
or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies
with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing the Lead Securitization
Noteholder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization Noteholder (or any Servicer
acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to any Non-Lead Noteholder in connection
with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder from the
obligation to make any disbursement of funds as set forth herein).

 

Upon
the Mortgage Loan becoming a Defaulted Mortgage Loan, each Non-Lead Noteholder hereby acknowledges the right and obligation of
the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder) to sell each
Non-Lead Note together with the Lead Securitization Note as notes evidencing one whole loan in accordance with the terms of the
Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell each Non-Lead Note together
with the Lead Securitization Note in the manner set forth in the Servicing Agreement and shall be required to require that all
offers be submitted in writing. Whether any cash offer constitutes a fair price for such Notes shall be determined by the Trustee
or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization Servicing Agreement; provided,
that no offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at
least two bona fide other offers are received from independent third parties. In determining whether any offer from an Interested
Person received represents a fair price for such Notes, the Trustee shall be supplied with and shall rely on the most recent Appraisal
or updated Appraisal conducted in accordance with the Servicing Agreement within the preceding nine (9) month period or, in the
absence of any such Appraisal, on a new Appraisal. The Trustee shall select the appraiser conducting any such new Appraisal. In
determining whether any such offer from an Interested Person constitutes a fair price for such Notes, the Trustee shall instruct
the appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have obtained
pursuant to the Servicing Agreement), as applicable, among other factors, the period and amount of any delinquency on the affected
Notes, the occupancy level and physical condition of the related Mortgaged Property and the state of the local economy. The Trustee
may conclusively rely on the opinion of an

 

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Independent
appraiser or other Independent expert in real estate matters retained by the Trustee at the expense of the Noteholders in connection
with making such determination. Notwithstanding the foregoing, the Lead Securitization Noteholder (or the Special Servicer acting
on behalf of the Lead Securitization Noteholder) shall not be permitted to sell the Non-Lead Securitization Notes if they become
a Defaulted Mortgage Loan without the written consent of each Non-Lead Securitization Noteholder (provided that such consent
is not required if such Non-Lead Securitization Noteholder is a Borrower Party) unless the Special Servicer has delivered to such
Non-Lead Securitization Noteholder: (a) at least 15 Business Days’ prior written notice of any decision to attempt to sell
the Non-Lead Securitization Notes; (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 (as defined in the Servicing Agreement) reasonably requested by the Non-Lead Securitization Noteholder that
are material to the price of the Non-Lead Securitization Notes 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 Controlling Class Representative) prior to the proposed
sale date, all information and other documents being provided to other offerors and all leases or other documents that are approved
by the Special Servicer in connection with the proposed sale; provided, that such Non-Lead Securitization Noteholder may
waive any of the delivery or timing requirements set forth in this sentence. Subject to the terms of the Servicing Agreement,
each of the Controlling Noteholder, the Controlling Class Representative, any other Noteholder (or any controlling class representative
or directing holder on its behalf under the Non-Lead Securitization Servicing Agreement) shall be permitted to bid at any sale
of the Non-Lead Securitization Note unless such Person is a Borrower Party.

 

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

 

The
authority and obligation of the Lead Securitization Noteholder to sell each Non-Lead Note, and the obligations of each Non-Lead
Noteholder to execute and deliver instruments or deliver its Non-Lead Note upon request of the Lead Securitization Noteholder,
shall terminate and cease to be of any further force or effect upon the date, if any, upon which no Note is held in a Securitization.
The preceding sentence shall not be construed to grant to any Non-Lead Noteholder the benefit of any representation or warranty
made by such seller or any document delivery obligation imposed on such seller under any mortgage loan purchase and sale agreement,
instrument of transfer or other document or instrument that may be executed or delivered by such seller in connection with the
Lead Securitization.

 

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(b)  
The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees
to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall
service the Mortgage Loan in accordance with the terms of this Agreement and consistent with the Servicing Standard. Servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan,
by the Special Servicer, in each case pursuant to the Servicing Agreement and consistent with the Servicing Standard. Notwithstanding
anything to the contrary contained herein, in accordance with the Servicing Agreement, the Lead Securitization Noteholder shall
cause the Master Servicer and the Special Servicer to service and administer the Mortgage Loan in accordance with the Servicing
Standard, taking into account the interests of each of the Noteholders as a collective whole, and each Non-Lead Noteholder who
is not a Borrower Party shall be deemed a third party beneficiary of such provisions of the Servicing Agreement.

 

(c)   
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and this Agreement (including, without limitation, Section 4(f)), if the Lead Securitization Noteholder in connection
with a Workout of the Mortgage Loan modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage
Loan is decreased, (ii) the Interest Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments
of interest or principal on such Mortgage Loan are waived, reduced or deferred or (iv) any other adjustment (other than an
increase in the Interest Rate or increase in scheduled amortization payments) is made to any of the terms of the Mortgage Loan,
the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable to such Workout
shall be borne by the Noteholders (pro rata based on the Principal Balances of their respective Notes), in each case up
to the amount otherwise due on such Note(s).

 

(d)  
All rights and obligations of the Lead Securitization Noteholder described hereunder may be exercised by the Servicers on behalf
of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement. Each Non-Lead Noteholder
shall be provided access to any website that an investor would be permitted to access in accordance with the procedures set forth
in the Servicing Agreement, it being understood and agreed that each Non-Lead Noteholder is subject to any restrictions on the
access to such websites contained in the Servicing Agreement.

 

(e)   
If any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage
Loan shall be administered such that the Notes shall each qualify at all times as (or as interests in) a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by
or on behalf of the Noteholders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure
of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interests
of the Noteholders therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code and (iii) 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 Noteholders
may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the
Mortgage Loan, 

 

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within
the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury, more than three months
after the earliest startup day of any REMIC which includes the Lead Securitization Note (or any portion thereof). The Noteholders
agree that the provisions of this Section 4(e) shall be effected by compliance by the Lead Securitization Noteholder
or its assignees with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the
Mortgage Loan or the Lead Securitization Noteholder’s interests therein. All costs and expenses of compliance with this
Section 4(e), to the extent that such costs and expenses relate to administration of a REMIC or to any determination
respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense,
shall be borne by each Noteholder with respect to the REMIC containing the Note owned by such Noteholder.

 

Anything
herein or in the Servicing Agreement to the contrary notwithstanding, in the event that a Note is included in a REMIC and the
other Notes are not, the other Noteholders shall not be required to reimburse such Noteholder that deposited its Note in the REMIC
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 either such other Noteholder be reduced to offset or make-up any such payment or deficit.

 

(f)    
(i) Subject to clause (ii) or (iii) below, with respect to any consent, modification, amendment or waiver under
or other action in respect of the Mortgage Loan (whether or not a Servicing Transfer Event has occurred and is continuing) that
would constitute a Major Decision, the Servicer shall provide the Controlling Noteholder with at least ten (10) Business Days
(or, in the case of a determination of an Acceptable Insurance Default, 20 days) prior notice requesting consent to the requested
Major Decision. The Servicer shall not take any action with respect to such Major Decision (or make a determination not to take
action with respect to such Major Decision), unless and until the Special Servicer receives the written consent of the Controlling
Noteholder before implementing a decision with respect to such Major Decision.

 

(ii)       If
the Lead Securitization Noteholder (or the Servicer acting on its behalf) has not received a response from the Controlling Noteholder
with respect to such Major Decision within five (5) Business Days after delivery of the notice of a Major Decision, the Lead Securitization
Noteholder (or the Special Servicer acting on its behalf) shall deliver an additional copy of the notice of a Major Decision in
all caps bold 14-point font: “THIS IS A SECOND NOTICE. FAILURE TO RESPOND WITHIN FIVE (5) BUSINESS DAYS OF THIS SECOND NOTICE
WILL RESULT IN A LOSS OF YOUR RIGHT TO CONSENT WITH RESPECT TO THIS DECISION.” and if the Controlling Noteholder fails to
respond to the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) with respect to any such proposed
action within five (5) Business Days after receipt of such second notice, the Controlling Noteholder, as applicable, shall have
no further consent rights with respect to the specific action set forth in such notice. Notwithstanding the foregoing, or if a
failure to take any such action at such time would be inconsistent with the Servicing Standard, the Servicer may take actions
with respect to such Mortgaged Property before obtaining the consent of the Controlling Noteholder if the Servicer

 

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reasonably
determines in accordance with the Servicing Standard that failure to take such actions prior to such consent would materially
and adversely affect the interest of the Noteholders as a collective whole, and the Servicer has made a reasonable effort to contact
the Controlling Noteholder. The foregoing shall not relieve the Lead Securitization Noteholder (or a Servicer acting on its behalf)
of its duties to comply with the Servicing Standard.

 

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

 

The
Special Servicer shall be required to provide copies to each Non-Controlling Noteholder of any notice, information and report
that is required to be provided to the Controlling Noteholder pursuant to the Servicing Agreement with respect to any Major Decisions,
or the implementation of any recommended actions outlined in an Asset Status Report, within the same time frame such notice, information
and report is required to be provided to the Controlling Noteholder, and at any time the Controlling Noteholder is the Lead Securitization
Noteholder, the Special Servicer shall be required to consult with each Non-Lead Securitization Noteholder on a strictly non-binding
basis, to the extent having received such notices, information and reports, any Non-Lead Securitization Noteholder requests consultation
with respect to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report,
and consider alternative actions recommended by such Non-Lead Securitization Noteholder; provided that after the expiration
of a period of ten (10) Business Days from the delivery to any Non-Controlling Noteholder by the Special Servicer of written notice
of a proposed action, together with copies of the notice, information and reports, the Special Servicer shall no longer be obligated
to consult with such Non-Lead Securitization Noteholders, whether or not such Non-Lead Securitization Noteholders have responded
within such ten (10) Business Day period.

 

The
Noteholders acknowledge that the Lead Securitization Servicing Agreement may contain certain provisions that give the Operating
Advisor certain non-binding consultation rights with respect to Major Decisions related to compliance with the Risk Retention
Rules applicable to the Lead Securitization.

 

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

 

(h)   
Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time a Borrower Party is a
Noteholder, then (i) such Borrower Party shall not have any rights as a Controlling Noteholder or a Controlling Class Representative,
(ii) such Borrower Party shall have no right to appoint or terminate the Master Servicer or Special Servicer, (iii) such Borrower
Party shall have no right to consult with or advise the Master Servicer or

 

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Special
Servicer, and shall have no right to review and approve or comment on any Asset Status Report and (iv) in each and every instance
where, pursuant to this Agreement or the Servicing Agreement, the Master Servicer or Special Servicer must take into account the
interests of each Noteholder (or words of similar import), such consideration shall be given to the Borrower Party only in its
capacity as a holder of the applicable Note.

 

Section 5.         Special
Servicer. The Controlling Noteholder, at its expense (including, without limitation, the reasonable costs and expenses of
counsel to any third parties and costs and expenses of the terminated Special Servicer), shall have the right, at any time from
time to time, to appoint a replacement Special Servicer with respect to the Mortgage Loan. The Controlling Noteholder shall be
entitled to terminate the rights and obligations of the Special Servicer under the Servicing Agreement, with or without cause,
upon at least ten (10) Business Days’ prior written notice to the Special Servicer (provided, however, that the Controlling
Noteholder shall not be liable for any termination or similar fee in connection with the removal of the Special Servicer in accordance
with this Section 5); such termination not be effective unless and until (A) each Rating Agency delivers a Rating
Agency Confirmation (to the extent any portion of the Mortgage Loan has been securitized); (B) the initial or successor Special
Servicer has assumed in writing (from and after the date such successor Special Servicer becomes the Special Servicer) all of
the responsibilities, duties and liabilities of the Special Servicer under the Servicing Agreement from and after the date it
becomes the Special Servicer as they relate to the Mortgage Loan pursuant to an assumption agreement reasonably satisfactory to
the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory to the Trustee to the effect
that (x) the designation of such replacement to serve as Special Servicer is in compliance with the Servicing Agreement, (y) such
replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage Loan and (z) subject to customary
qualifications and exceptions, the applicable Servicing Agreement will be enforceable against such replacement in accordance with
its terms. The Lead Securitization Noteholder shall promptly provide copies to any terminated Special Servicer of the documents
referred to in the preceding sentence. The Lead Securitization Noteholder will reasonably cooperate with the Controlling Noteholder
in order to satisfy the foregoing conditions, including the Rating Agency Confirmation.

 

The
Controlling Noteholder agrees and acknowledges that the Lead Securitization Servicing Agreement may contain provisions such that
any Special Servicer could be terminated under the Lead Securitization Servicing Agreement based on a recommendation by the Operating
Advisor if (A) the Operating Advisor determines, in its sole discretion exercised in good faith, that (1) the Special Servicer
has failed to comply with the Servicing Standard and (2) a replacement of the Special Servicer would be in the best interest of
the holders of securities issued under the Lead Securitization Servicing Agreement (as a collective whole) and (B) an affirmative
vote of requisite certificateholders is obtained. The Controlling Noteholder will retain its right to remove and replace the Special
Servicer, but the Controlling Noteholder may not restore a Special Servicer that has been removed in accordance with the preceding
sentence.

 

Section 6.         Payment
Procedure.

 

(a)   
The Lead Securitization Noteholder (or the Servicer on its behalf), in accordance with the priorities set forth in Section 3
and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes
to the

 

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Collection
Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization
Noteholder (or the Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead
Securitization Noteholder (or the Servicer acting on its behalf) shall deposit such amounts to the applicable account within two
(2) Business Days following the Lead Securitization Noteholder’s (or the Servicer’s acting on its behalf) receipt
of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

 

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

 

(c)   
If, for any reason, the Lead Securitization Noteholder (or the Servicer on its behalf) makes any payment to any other Noteholder
before the Lead Securitization Noteholder (or the Servicer on its behalf) has received the corresponding payment (it being understood
that the Lead Securitization Noteholder (or the Servicer on its behalf) is under no obligation to do so), and the Lead Securitization
Noteholder (or the Servicer on its behalf) does not receive the corresponding payment within three (3) Business Days of its payment
to such other Noteholder, then such other Noteholder will, at the Lead Securitization Noteholder’s (or the Servicer’s
on its behalf) request, promptly return that payment to the Lead Securitization Noteholder (or the Servicer on its behalf).

 

(d)  
Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or
the Servicer on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the terms
of this Agreement. The Lead Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts
due hereunder from any other Noteholder, as applicable, with respect to the Mortgage Loan against any future payments due to such
other Noteholder, as applicable, under the Mortgage Loan, provided, that each Noteholder’s obligations under this
Section 6 are separate and distinct obligations from one another and in no event shall the Lead Securitization Noteholder
(or the Servicer on its behalf) enforce the obligations of one Noteholder against another Noteholder. Each Noteholder’s
obligations under this Section 6 constitute absolute, unconditional and continuing obligations.

 

Section 7.         Limitation
on Liability of the Noteholders. No Noteholder (including any Servicer on a Noteholder’s behalf, but only to the extent
that the Servicing 

 

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Agreement
does not impose any other standard upon any Servicer, in which case the Servicing Agreement shall control) shall have any liability
to any other Noteholder except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach
of this Agreement on the part of such Noteholder.

 

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

 

Section 8.         Bankruptcy.
Subject to the provisions of Section 4(f) hereof and the Servicing Standard, each Noteholder hereby covenants and
agrees that only the Lead Securitization Noteholder (or the Servicer on its behalf) has the right to institute, file, commence,
acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke
or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to
appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage
Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage
Loan Borrower. Subject to the provisions of Section 4(f) hereof and the Servicing Standard, each Noteholder further
agrees that only the Lead Securitization Noteholder, as a creditor, can make any election, give any consent, commence any action
or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan
Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. Subject to the provisions of Section 4(f),
the Noteholders hereby appoint the Lead Securitization Noteholder as their agent, and grant to the Lead Securitization Noteholder
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 Controlling Noteholder in connection with any case by or against the Mortgage Loan
Borrower under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or
prosecute any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with
respect to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage
Loan. The Noteholders, hereby agree that, upon the request of the Lead Securitization Noteholder but subject to the provisions
of Section 4(f), each other Noteholder shall execute, acknowledge and deliver to the Lead Securitization Noteholder
all and every such further deeds, conveyances and instruments as the Lead Securitization Noteholder may reasonably request for
the better assuring and evidencing of the foregoing appointment and grant. All actions taken by any Servicer in connection with
any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

 

Section 9.         Representations
of each Initial Noteholder.

 

Each
Initial Noteholder represents and warrants that the execution, delivery and performance of this Agreement is within its corporate
powers, has been duly authorized by all

 

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necessary
corporate action, and does not contravene such Noteholder’s charter or any law or contractual restriction binding upon such
Noteholder and that this Agreement is the legal, valid and binding obligation of such Noteholder as applicable enforceable against
it in accordance with its terms. Each Initial Noteholder represents and warrants that it is duly organized, validly existing,
in good standing and possession of all licenses and authorizations necessary to carry on its respective business. Each Initial
Noteholder represents and warrants that (a) this Agreement has been duly executed and delivered by such Noteholder, (b) to such
Noteholder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental
agency or body, if any, required for the execution, delivery and performance of this Agreement by such Noteholder have been obtained
or made and (c) to such Noteholder’s actual knowledge, there is no pending action, suit or proceeding, arbitration or governmental
investigation against such Noteholder, an adverse outcome of which would materially and adversely affect its performance under
this Agreement.

 

Each
Initial Noteholder acknowledges that no other Noteholder owes such Noteholder any fiduciary duty with respect to any action taken
under the Mortgage Loan Documents and, except as provided herein or in the Servicing Agreement, need not consult with such Noteholder
with respect to any action taken by such Noteholder in connection with the Mortgage Loan.

 

Section 10.       Independent
Analysis of the Noteholder. Each Noteholder acknowledges that it has, independently and without reliance upon any Initial
Noteholder, except with respect to the representations and warranties provided by an Initial Noteholder herein and in any documents
or instruments executed and delivered by the such Initial Noteholder in connection herewith (including the representations and
warranties provided in the agreement pursuant to which it acquired its Note), and based on such documents and information as it
has deemed appropriate, made its own credit analysis and decision to purchase such Note and such Noteholder accepts responsibility
therefor. Each Noteholder hereby acknowledges that, other than the representations and warranties provided herein and in such
other documents or instruments, no Initial Noteholder has made any representations or warranties with respect to the Mortgage
Loan, subject to such representations and warranties as provided by such Initial Noteholder herein and in such other documents
and instruments, and that no Initial Noteholder shall have any responsibility for (i) the collectibility of the Mortgage Loan,
(ii) the validity, enforceability or legal effect of any of the Mortgage Loan Documents or the title insurance policy or policies
or any survey furnished or to be furnished to an Initial Noteholder in connection with the origination of the Mortgage Loan, (iii)
the validity, sufficiency or effectiveness of the lien created or to be created by the Mortgage Loan Documents, or (iv) the financial
condition of the Mortgage Loan Borrower. Each Noteholder assumes all risk of loss in connection with its Note except as specifically
set forth herein.

 

Section 11.       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 or among any of the Noteholders as a partnership, association,
joint venture or other entity. None of the Noteholders shall have any obligation whatsoever to offer to any other Noteholder the
opportunity to purchase a Note interest in any future loans originated by such Noteholder or its Affiliates, and if such Noteholder
chooses to offer to any other Noteholder the opportunity to purchase a Note interest in any future mortgage loans originated by

 

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the
such Noteholder or their respective Affiliates, such offer shall be at such purchase price and interest rate as the offering Noteholder
chooses, in its sole and absolute discretion. No Noteholder shall have any obligation whatsoever to purchase from any other Noteholder
an interest in any future loans originated by such Noteholder or their respective Affiliates.

 

Section 12.       Not
a Security. No Note shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities Exchange
Act of 1934.

 

Section 13.       Other
Business Activities of the Noteholders. Each Noteholder acknowledges that each other Noteholder or its Affiliates may make
loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Mortgage Loan Borrower or
(b) any direct or indirect parent of the Mortgage Loan Borrower or (c) any Affiliate of the Mortgage Loan Borrower or (d) any
Affiliate of any direct or indirect parent of the Mortgage Loan Borrower, (ii) any entity that is a holder of debt secured by
direct or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate of the holder of such debt, or (iii)
any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower or any Affiliate of a holder of
such preferred equity, and receive payments on such other loans or extensions of credit to any of the foregoing 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 Noteholder agrees that it will not Transfer all or any portion of its Note except in accordance with this Section 14.
Each Noteholder agrees it shall not Transfer more than 49% (in the aggregate) of its beneficial interest in its Note, except to
a Qualified Institutional Lender, unless (i) prior to a Securitization of any Note, the other Noteholders have consented to such
Transfer, in which case the related transferee (and its Affiliates) shall thereafter be deemed to be a “Qualified Institutional
Lender” for all purposes under this Agreement, (ii) after a Securitization of any Note, a Rating Agency Confirmation has
been received with respect to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified
Institutional Lender” for all purposes under this Agreement, or (iii) such Transfer is in connection with a sale by a Securitization
Trust; provided that if such Transfer is a Transfer of the Lead Securitization Note, such Transfer is to a Qualified Institutional
Lender. With respect to any Transfers pursuant to (i) or (ii) above (except with respect to a Transfer to a Securitization Trust)
such transferee must (x) assume in writing the obligations of the transferring Noteholder hereunder and agree to be bound by the
terms and provisions of this Agreement and, if applicable, the Servicing Agreement and (y) remake each of the representations
and warranties contained herein for the benefit of the other Noteholders. Notwithstanding the foregoing, without the non-transferring
Noteholder’s prior consent (which will not be unreasonably withheld), and, if such non transferring Noteholder’s Note
is in a Securitization, without a Rating Agency Confirmation from each Rating Agency that has been engaged by the Depositor to
rate the securities issued in connection with such Securitization, no Noteholder shall Transfer all or any portion of its Note
to a Borrower Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.
None of the provisions of this Section 14(a) shall apply in the case of a sale of all of the Notes together, in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement.

 

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(b)  
Except for a Transfer made in connection with a Securitization, or a Transfer made by a Noteholder to an Affiliate, at least five
(5) days prior to a transfer of any Note, the transferring Noteholder shall provide to the other Noteholders and, if any Securitization
Trust is are outstanding, to the Rating Agencies, a certification that such transfer will be made in accordance with this Section 14,
such certification to include (1) the name and contact information of the transferee and (2) if applicable, a certification by
the transferee that it is a Qualified Institutional Lender.

 

(c)   
In the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such Noteholder’s
obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance
of such obligations, (iii) the other Noteholders and any Persons acting on their behalf shall continue to deal solely and
directly with such Noteholder in connection with such Noteholder’s rights and obligations under this Agreement and the Servicing
Agreement, and (iv) all amounts payable hereunder shall be determined as if such Noteholder had not sold such participation interest;
provided, however, that if the applicable participant is a Qualified Institutional Lender (and delivers to the other
Noteholders a certification from an authorized officer confirming its status as a Qualified Institutional Lender), such Noteholder,
by written notice to the other Noteholders, may delegate to such participant such Noteholder’s right to exercise the rights
of the Controlling Noteholder hereunder and under the Servicing Agreement.

 

(d)  
The Noteholders acknowledge and agree that, to the extent specifically required, any Rating Agency Confirmation may be granted
or denied by the Rating Agencies in their sole and absolute discretion and that such Rating Agencies may charge the transferring
Noteholder customary fees in connection with providing such Rating Agency Confirmation.

 

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

 

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unreasonably
withheld, conditioned or delayed; (iv) that such other Noteholder shall give to such Note Pledgee copies of any notice of
default under this Agreement simultaneously with the giving of same to the pledging Noteholder and accept any cure thereof by
such Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect hereunder, as if such cure were
made by such pledging Noteholder; (v) that such other Noteholder shall deliver to Note Pledgee such estoppel certificate(s)
as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory
to such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to each other Noteholder
and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the
pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging
Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such
Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that
any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement
or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases each other Noteholder and any
Servicer from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with
any Redirection Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee
shall be permitted to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept
an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event,
the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or
any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee
or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Noteholder’s rights,
remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing
the obligations of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the collateral
by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under
this Section 14(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee
shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has
terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 15.       Registration
of Transfer. In connection with any Transfer of a Note (but excluding (x) any participant and (y) any Note Pledgee unless
and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby such transferee
assumes all of the obligations of the applicable Noteholder hereunder with respect to such Note thereafter accruing and agrees
to be bound by the terms of this Agreement, including the restriction on Transfers set forth in Section 14, from and
after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment
and assumption agreement in connection with any Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement.
In connection with a Transfer of a Note, 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 Noteholder desiring to effect such transfer shall, and does
hereby agree to, indemnify the Agent and any other Noteholder against any liability that may result if the transfer is not made
in accordance with the provisions of this Agreement. Upon a Securitization of the Lead Securitization Note, the Certificate Administrator
shall automatically become and be the Agent.

 

Section 16.       Registration
of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts
such appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note
of which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in Section 15,
and the principal amounts (and stated interest) of the Note owing to each such Noteholder, shall be registered in the Note Register.
The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes
of this Agreement, except in the case of the Initial Noteholders who may hold their Notes through a nominee. Upon request of a
Noteholder, the Agent shall provide such party with the names and addresses of the Noteholders. To the extent another party is
appointed as Agent hereunder, the Noteholders hereby designate such person as its agent under this Section 16 solely
for purposes of maintaining the Note Register. The parties intend for the Notes to be in

 

    39

     

    

 

registered
form for federal income tax purposes under Section 5f.103-1(c) of the United States Treasury Regulations.

 

Section 17.       Statement
of Intent. The Agent and each Noteholder intend that the Notes be classified, and the arrangement hereby be maintained, in
a manner consistent with rules applicable to a grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code
that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c), and the parties will not take
any action inconsistent with such classification. It is neither the purpose nor the intent of this Agreement to create a partnership,
joint venture, “taxable mortgage pool” or association taxable as a corporation among the parties.

 

Section 18.       No
Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders.
Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Noteholder shall have any interest in
any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds
of any sale, lease or other disposition thereof shall be received, then each Non-Lead Noteholder shall be entitled to receive
its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

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

 

Section 20.       Submission
to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

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

 

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

 

    40

     

    

 

(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 21.       Modifications;
Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each
Noteholder. Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders shall not amend or modify
this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation from the Rating
Agencies shall be required in connection with a modification or amendment (i) to cure any ambiguity, to correct or supplement
any provisions herein that may be defective or inconsistent with any other provisions herein or with the Servicing Agreement,
(ii) entered into pursuant to Section 32 of this Agreement or (iii) to correct or supplement any provision herein
that may be defective or inconsistent with any other provisions of this Agreement.

 

Section 22.       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 permitted assigns. Except as provided herein, 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, each Noteholder may
assign or delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to
all rights and benefits of the applicable Noteholder hereunder, including, without limitation, the right to make further assignments
and grant additional Notes.

 

Section 23.       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 24.       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 25.       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.

 

    41

     

    

 

Section 26.       Entire
Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter contained
in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

 

Section 27.       Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will be held by the
Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder) who shall act as secured
party under the Mortgage Loan Documents on behalf of the registered holders of the Notes. Notwithstanding anything to the contrary
in this Agreement, upon the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than the Notes) shall
be held by the Custodian. Each Note shall be held by the respective Noteholder or a custodian appointed by such Noteholder.

 

Section 28.       Notices.
All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile transmission (during
business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges prepaid), (iv)
sent by electronic mail containing language requesting the recipient to confirm receipt thereof if a party has provided an electronic
mail address and only if such electronic mail is promptly followed by a written notice or (v) certified United States mail, postage
prepaid return receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit B hereto,
or at such other address as any party shall hereafter inform the other party by written notice given as aforesaid. All written
notices so given shall be deemed effective upon receipt.

 

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

 

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

 

Section 30.       Certain
Matters Affecting the Agent.

 

(a)   
The Noteholders hereby appoint the Agent to act on their behalf, and the Agent shall act on behalf of the Noteholders;

 

(b)  
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 15;

 

(c)   
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;

 

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

 

    42

     

    

 

(e)   
The Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning
of the Securities 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;

 

(f)    
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; and

 

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

 

Section 31.       Termination
of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Lead Securitization Noteholder.
In the event that the Agent is terminated pursuant to this Section 31, all of its rights and obligations under this
Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

 

The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed
to be bound by this Agreement and perform the duties of the Agent hereunder. GSBI, as Initial Agent, may transfer its rights and
obligations to a Servicer, as successor Agent, at any time without the consent of any Noteholder. GSBI, as Initial Agent, shall
promptly and diligently attempt to cause such Servicer to act as successor Agent, and, if such Servicer declines to act in such
capacity, shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. Notwithstanding the foregoing,
the Noteholders hereby agree that, simultaneously with the closing of the Lead Securitization, the Certificate Administrator shall
be deemed to have been automatically appointed as the successor Agent under this Agreement in place of the Initial Agent or any
successor thereto prior to such Securitization without any further notice or other action. The termination or resignation of the
Certificate Administrator, as Certificate Administrator under the Servicing Agreement, shall be deemed a termination or resignation
of such Certificate Administrator as Agent under this Agreement.

 

Section 32.       Resizing.
In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below, that if a Noteholder determines
that it is advantageous to resize its Note by causing the Mortgage Loan Borrower to execute amended and restated or additional
pari passu notes (in either case, “New Notes”) reallocating the principal of such Note to such New Notes, each
Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder to effect such resizing at such resizing
Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding New Notes following the
creation thereof is no greater than the principal balance of such Note or Notes immediately prior to the creation of the New Notes,
(ii) the weighted average Interest Rate of all outstanding New Notes following the creation thereof is the same as the Interest
Rate of the related Note or Notes immediately prior to the creation of the New Notes, and (iii) no such resizing shall (x) change
the interest allocable to, or the amount of any payments due to, any other Noteholder, or priority of such payments, or (y) increase
any other Noteholder’s obligations or decrease any other Noteholder’s rights, 

 

    43

     

    

 

remedies
or protections. In connection with any resizing of a Note, the related Noteholder may allocate its rights hereunder among the
New Notes in any manner in its sole discretion.

 

Section 33.       Conflict.
To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on the other, this Agreement
shall control.

 

[SIGNATURE
PAGE FOLLOWS]

 

    44

     

    

 

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

 

	 	GOLDMAN SACHS BANK USA, as
    Initial Note A-1 Holder and Initial Agent
	 	 	 
	 	By: 	/s/ Leah
    Nivison
	 	 	Name: Leah Nivison
	 	 	Title: Authorized Signatory

  

	 	ARGENTIC
    REAL ESTATE FINANCE LLC, as Initial Note A-2 Holder
	 	 
	 	By:	Argentic Investment Management LLC,
    its Investment Manager
	 	 	 
	 	By:	/s/ John
    Burke
	 	 	Name: John Burke
	 	 	Title: Authorized Signatory

 

AGREEMENT
BETWEEN NOTEHOLDERS (WOODBRIDGE)

 

     

     

    

EXHIBIT
A

MORTGAGE LOAN SCHEDULE

 

A.       Description
of Mortgage Loan:

 

	Mortgage
    Loan Agreement:	Loan
    Agreement, dated as of May 24, 2021, between NECG WOODBRIDGE BH LLC, as borrower, and Goldman Sachs Bank USA and Argentic
    Real Estate Finance LLC, as lenders.
	Mortgage
    Loan Borrower	NECG
    WOODBRIDGE BH LLC
	Date
    of the Mortgage Loan:	May
    24, 2021
	Initial
    Principal Amount of Mortgage Loan:	$50,000,000
	Location
    of Mortgaged Property:	Iselin,
    NJ
	Stated
    Maturity Date:	Payment
    Date in June 2031

 

B.       Description
of Note Interests: Each Note shall have the initial Principal Balance, Percentage Interest and initial rate of interest set
forth in the table below.

 

	Note
                                         Designation 
	Initial

                                         Interest Rate 
	

                                         Percentage Interest 
	Original
                                         Principal Balance 

	Note
    A-1 	3.938%	55%	$27,500,000
	Note
    A-2 	3.938%	45%	$22,500,000

 

    A-1

     

    

EXHIBIT
B

 

Initial
Note A-1 Holder:

 

Goldman
Sachs Bank USA

200 West Street

New York, New York 10282

Attention: Leah Nivison

Email: leah.nivison@gs.com and gs-refgsecuritization@gs.com

 

with
a copy to:

 

Goldman
Sachs Bank USA  

200
West Street

New York, New York 10282

Attention: Joe Osborne

Email: joe.osborne@gs.com and gs-refglegal@gs.com

 

and:

 

Cadwalader,
Wickersham & Taft LLP 

200
Liberty Street 

New
York, New York 10281 

Attention:
Lisa Pauquette, Esq. 

Facsimile
No.: (212) 504-6666 

E-mail:
lisa.pauquette@cwt.com

 

Initial
Note A-2 Holder:

 

Argentic
Investment Management LLC 

31
West 27th Street, 12th Floor 

New
York, New York 10001 

Attention:
Ryan Supple

 

with
a copy to:

 

Polsinelli
PC

900 W. 48th Place, Suite 900

Kansas City, Mossouri 64112

Attention: Marla Bell, Esq.

E-mail: mbell@polsinelli.com

 

    B-1

     

    

 

EXHIBIT
C

PERMITTED FUND MANAGERS

 

		1.	Westbrook
                                         Partners

		2.	DLJ
                                         Real Estate Capital Partners

		3.	iStar
                                         Financial Inc.

		4.	Capital
                                         Trust, Inc.

		5.	Lend-Lease
                                         Real Estate Investments

		6.	Archon
                                         Capital, L.P.

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

		8.	The
                                         Blackstone Group International Ltd.

		9.	Apollo
                                         Real Estate Advisors

		10.	Colony
                                         Capital, Inc.

		11.	Praedium
                                         Group

		12.	J.E.
                                         Roberts Companies

		13.	Fortress
                                         Investment Group, LLC

		14.	Lonestar
                                         Opportunity Fund

		15.	Clarion
                                         Partners

		16.	Walton
                                         Street Capital, LLC

		17.	Starwood
                                         Financial Trust

		18.	BlackRock,
                                         Inc.

		19.	Rialto
                                         Capital Management, LLC

		20.	Raith
                                         Capital Partners, LLC

		21.	Rialto
                                         Capital Advisors LLC

		22.	Teachers
                                         Insurance and Annuity Association of America

		23.	Principal
                                         Real Estate Investors, LLC

		24.	Metropolitan
                                         Life Insurance Company

		25.	New
                                         York Life Insurance Company

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