Document:

Exhibit
4.9 

 

Execution
Version

 

AGREEMENT
BETWEEN NOTE HOLDERS 

 

Dated
as of November 5, 2015 

 

by
and between 

 

UBS
REAL ESTATE SECURITIES INC.,

(Initial Note A-1 Holder), 

 

UBS
REAL ESTATE SECURITIES INC.,

(Initial
Note A-2 Holder), 

 

UBS
REAL ESTATE SECURITIES INC.,

(Initial Note A-3 Holder)

 

and 

 

BANK
OF AMERICA, N.A.

(Initial Note A-4 Holder)

  

Ellenton

 

    	 

    	 

    

  

TABLE
OF CONTENTS

 

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

 

    	-i-

    	 

    

  

This
AGREEMENT BETWEEN NOTE HOLDERS (this “Agreement”), dated as of November 5, 2015 by and between UBS REAL ESTATE
SECURITIES INC. (“UBSRES”, together with its successors and assigns in interest, as initial owner of Note A-1
described below, in its capacity as the “Initial Note A-1 Holder” and, in its capacity as the initial agent,
the “Initial Agent”), UBSRES (together with its successors and assigns in interest, as initial owner of Note
A-2 described below, in its capacity as the “Initial Note A-2 Holder”), UBSRES (together with its successors
and assigns in interest, as initial owner of Note A-3 described below, in its capacity as the “Initial Note A-3 Holder”)
and BANK OF AMERICA, N.A, (“BANA” together with its successors and assigns in interest, in its capacity as
initial owner of Note A-4 described below, the “Initial Note A-4 Holder”; the Initial Note A-1 Holder, the
Initial Note A-2 Holder, the Initial Note A-3 Holder and the Initial Note A-4 Holder are referred to collectively herein as the
“Initial Note Holders”).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), UBSRES originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage
loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced,
inter alia, by four promissory notes dated as of November 3, 2015: (i) one promissory note designated Promissory Note A-1
made by the Mortgage Loan Borrower in favor of UBSRES in the original principal amount of $58,000,000.00, (ii) one promissory
note designated Promissory Note A-2 made by the Mortgage Loan Borrower in favor of UBSRES in the original principal amount of
$38,800,000.00, (iii) one promissory note designated Promissory Note A-3 made by the Mortgage Loan Borrower in favor of UBSRES
in the original principal amount of $10,000,000.00 and (iv) one promissory note designated Promissory Note A-4 made by the Mortgage
Loan Borrower in favor of UBSRES in the original principal amount of $71,200,000.00. The note referenced in clause (i)
of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-1”; the note
referenced in clause (ii) of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note
A-2”; the note referenced in clause (iii) of the preceding sentence, as amended, modified or supplemented, is
referred to herein as “Note A-3”; and the note referenced in clause (iv) of the preceding sentence,
as amended, modified or supplemented, is referred to herein as “Note A-4”. Note A-1, Note A-2, Note A-3 and
Note A-4 are collectively referred to herein as the “Notes”. The Notes are 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,
pursuant and subject to that certain Assignment and Assumption Agreement dated as of the date hereof (the “Assignment
and Assumption Agreement”) between UBSRES, as assignor, and BANA, as assignee, UBSRES has agreed to sell, assign, transfer
and otherwise convey to UBSRES all right, title and interest in Note A-4 and BANA has agreed to assume the Assumed Obligations
(as such term is defined in the Assignment and Assumption Agreement);

 

    	-1-

    	 

    

 

WHEREAS,
the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder and the Initial Note A-4 Holder 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-2, Note A-3 and Note A-4, respectively;

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Agreement”
shall mean this Agreement between Note Holders, any exhibits and schedules hereto and all amendments hereof and thereof and supplements
hereto and thereto.

 

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

 

“BACM
2015-UBS7 PSA” shall mean the pooling and servicing agreement, dated as of September 1, 2015, among Banc of America
Merrill Lynch Commercial Mortgage Inc., as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as
master servicer, LNR Partners, LLC, as special servicer, Pentalpha Surveillance LLC, as trust advisor and U.S. Bank National Association,
as trustee, certificate administrator, certificate registrar, authenticating agent and custodian.

 

    	-2-

    	 

    

  

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Controlling
Note” shall mean Note A-1.

 

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

 

    	-3-

    	 

    

 

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

 

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

 

“Depositor”
shall mean (i) with respect to the Note A-1 Securitization, the depositor under the Note A-1 PSA, (ii) with respect to the Note
A-2 Securitization, depositor under the Note A-2 PSA, (iii) with respect to the Note A-3 Securitization, depositor under the Note
A-3 PSA and (iv) with respect to the Note A-4 Securitization, depositor under the Note A-4 PSA.

 

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

 

“First
Securitization” shall mean the earliest to occur of the Note A-1 Securitization, the Note A-2 Securitization, the
Note A-3 Securitization and the NoteA-4 Securitization.

 

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

 

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

 

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

 

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

 

“Initial
Note A-3 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“Initial
Note A-4 Holder” shall have the meaning assigned to such term in the preamble to this Agreement.

 

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

 

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

 

    	-4-

    	 

    

 

under the Mortgage Loan Documents; provided that following any such permitted
transaction affecting the title to the Mortgaged Property, the Mortgage Loan Borrower for purposes of this Agreement shall be
defined to mean the successor owner of the Mortgaged Property from time to time as may be permitted pursuant to the Mortgage Loan
Documents; provided, further, that for the purposes of this definition, in the event that more than one entity comprises
the Mortgage Loan Borrower, the term “Mortgage Loan Borrower” shall refer to any such entity.

 

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

 

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

 

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

 

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

 

“Lead
Securitization” shall mean (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 Note A-1 Securitization Date, the First Securitization and (ii) on and after the Note A-1 Securitization
Date, the Note A-1 Securitization.

 

“Lead
Securitization Controlling Class Representative” shall mean the “Controlling Class Representative” as defined
in the Lead Securitization Servicing Agreement.

 

“Lead
Securitization Note” shall mean (a) during the period from and after the earliest of the Note A-2 Securitization Date,
the Note A-3 Securitization Date and the Note A-4 Securitization Date, but prior to the Note A-1 Securitization Date, Note A-2,
Note A-3 or Note A-4, as applicable; and (b) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead
Securitization Servicing Agreement” shall mean, as of any date of determination, the pooling and servicing agreement
that governs the Securitization that is then the Lead Securitization.

 

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

 

    	-5-

    	 

    

 

“Major
Decisions” shall mean each “Major Decision” as defined in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of November 3, between UBSRES, as lender, and the Mortgage Loan
Borrower, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms
hereof.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s
respective Note is included in a Securitization, references to such “Non-Controlling Note Holder” herein shall
mean the “Controlling Class

 

    	-6-

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-7-

    	 

    

 

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

 

“Non-Lead
Securitization Servicing Agreement” shall mean, on and after the Note A-1 Securitization Date, the Note A-2 PSA, the
Note A-3 PSA and the Note A-4 PSA.

 

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

 

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

 

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

 

“Non-Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is not a Securitizing Note Holder with
respect to such Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-8-

    	 

    

 

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

 

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

 

“Note
A-2 Master Servicer” shall mean the master servicer under the Note A-2 PSA.

 

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

 

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

 

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

 

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

 

“Note
A-2 Special Servicer” shall mean the special servicer under the Note A-2 PSA.

 

“Note
A-2 Trustee” shall mean the trustee under the Note A-2 PSA.

 

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

 

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

 

“Note
A-3 Holder” shall mean the Initial Note A-3 Holder or any subsequent holder of Note A-3, as applicable.

 

“Note
A-3 Master Servicer” shall mean the master servicer under the Note A-32 PSA.

 

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

 

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

 

    	-9-

    	 

    

 

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

 

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

 

“Note
A-3 Special Servicer” shall mean the special servicer under the NoteA-3 PSA.

 

“Note
A-3 Trustee” shall mean the trustee under the Note A-3 PSA.

 

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

 

“Note
A-4” shall have the meaning assigned to such term in the recitals.

 

“Note
A-4 Holder” shall mean the Initial Note A-4 Holder or any subsequent holder of Note A-4, as applicable.

 

“Note
A-4 Master Servicer” shall mean the master servicer under the Note A-4 PSA.

 

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

 

“Note
A-4 PSA” shall mean the pooling and servicing agreement entered into in connection with the Note A-4 Securitization.

 

“Note
A-4 Securitization” shall mean the first sale by the Note A-4 Holder of all or a portion of Note A-4 to a depositor
who will in turn include such portion of Note A-4 as part of the securitization of one or more mortgage loans.

 

“Note
A-4 Securitization Date” shall mean the closing date of the Note A-4 Securitization.

 

“Note
A-4 Special Servicer” shall mean the special servicer under the Note A-4 PSA.

 

“Note
A-4 Trustee” shall mean the trustee under the Note A-4 PSA.

 

“Note
A-4 Trust Fund” shall mean the trust formed pursuant to the Note A-4 PSA.

 

“Note
Holder Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative,
as applicable.

 

    	-10-

    	 

    

 

“Note
Holders” shall mean collectively, the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder.

 

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

 

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

 

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

 

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

 

“Percentage
Interest” shall mean, (a) with respect to the Note A-1 Holder, a fraction, expressed as a percentage, the numerator
of which is the Note A-1 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note
A-2 Principal Balance, the Note A-3 Principal Balance and the Note A-4 Principal Balance, (b) with respect to the Note A-2 Holder,
a fraction, expressed as a percentage, the numerator of which is the Note A-2 Principal Balance and the denominator of which is
the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance and the Note A-4 Principal
Balance, (c) with respect to the Note A-3 Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-3
Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the
Note A-3 Principal Balance and the Note A-4 Principal Balance and (d) with respect to the Note A-4 Holder, a fraction, expressed
as a percentage, the numerator of which is the Note A-4 Principal Balance and the denominator of which is the sum of the Note
A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance and the Note A-4 Principal Balance.

 

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

 

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

 

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

 

    	-11-

    	 

    

 

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

 

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

 

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

 

(c)          one
or more of the following:

 

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

 

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

 

(iii)       a
Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized debt obligations
(“CDO”) secured by, or (c) a financing through an “owner trust” of, a Note or any interest
therein (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating
Agencies that assigned a rating to one or more classes of securities issued in connection with that Securitization (it being
understood that with respect to any Rating Agency that assigned such a rating to the securities issued by such Securitization
Vehicle, a Rating Agency Confirmation will not be required in connection with a transfer of such Note or any interest therein
to such Securitization Vehicle); (2) in the case of a Securitization Vehicle that is not a CDO, the special servicer of such
Securitization Vehicle has a Required Special Servicer Rating or is otherwise subject to Rating Agency Confirmations from the
Rating Agencies rating each Securitization (such entity, an “Approved Servicer”) and such Approved
Servicer is required to service and administer such Note or any interest therein in accordance with servicing arrangements
for the assets held by the Securitization Vehicle which require that such Approved Servicer act in accordance with a
servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a
Securitization Vehicle that is a CDO, the

 

    	-12-

    	 

    

 

CDO
Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed by a CDO Asset Manager which
is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses (i), (ii), (iv) or
(v) of this definition, or

 

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

 

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

 

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

 

(d)         any entity Controlled by any of the entities described in clause (b) above or that is the subject of a Rating Agency Confirmation
as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating Agencies engaged by the Depositor and
any Non-Lead Depositor to rate the securities issued by the related Securitization Trust.

 

“Qualified
Trustee” means (i) a corporation, national bank, national banking association or a trust company, organized and doing
business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers
and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or
examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an
institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the
applicable Rating Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of
Fitch, Moody’s and S&P).

 

    	-13-

    	 

    

 

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

 

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

 

“Rating
Agency Confirmation” shall mean, with respect to any Securitization, a confirmation in writing by each of the applicable
Rating Agencies for such Securitization that the occurrence of the event with respect to which such Rating Agency Confirmation
is sought shall not result in a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating
Agency to any of the securities issued pursuant to such Securitization that are then outstanding. If no such securities are outstanding
with respect to any Securitization, any action that would otherwise require a Rating Agency Confirmation shall instead require
the consent of the Lead Securitization Note Holder, which consent shall not be unreasonably withheld or delayed. For the purposes
of this Agreement, if any Rating Agency shall waive, decline or refuse to review or otherwise engage any request for Rating Agency
Confirmation hereunder, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition
that a Rating Agency Confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For purposes of clarity,
any such waiver, declination or refusal to review or otherwise engage in any request for a Rating Agency Confirmation hereunder
shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for a Rating Agency
Confirmation hereunder and the condition for Rating Agency Confirmation pursuant to this Agreement for any subsequent request
shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

 

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

 

“Regulation
AB” shall mean Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100-229.1125,
as such rules may be amended from time to time, and subject to such clarification and interpretation as have been 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.

 

    	-14-

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-15-

    	 

    

 

“Securitization”
shall mean the Note A-1 Securitization, the Note A-2 Securitization, the Note A-3 Securitization or the Note A-4 Securitization,
as applicable.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Servicing
Standard” shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement.
The Servicing Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in
servicing the Mortgage Loan, must take into account the interests of each Note Holder.

 

“Special
Servicer” shall mean the special servicer or excluded mortgage loan special servicer, as applicable, appointed as provided
in the Lead Securitization Servicing Agreement.

 

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

 

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

 

    	-16-

    	 

    

 

“Trust
Advisor” shall mean the trust advisor, operating advisor or other analogous term appointed as provided in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

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

 

Section
2.          Servicing of the Mortgage Loan.

 

(a)          Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced by the Master
Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing Agreement;
provided that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of
any Note other than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall
be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the
Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization
Servicing Agreement. Each Note Holder acknowledges that any other Note Holder may elect, in its sole discretion, to include its
Note in a Securitization and agrees that it will, subject to Section 27, reasonably cooperate with such other Note Holder,
at such other Note Holder’s expense, to effect such Securitization. Subject to the terms and conditions of this Agreement,
each Note Holder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer and the Trustee under
the Lead Securitization Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Controlling Note
Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the
Mortgage Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master Servicer,
the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents
reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization
Servicing Agreement (subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing
Agreement). The Lead Securitization Servicing Agreement shall not limit the Servicer in enforcing the rights of one Note Holder
against any other Note Holder as may be required in order to service the Mortgage Loan as contemplated by this Agreement and the
Lead Securitization Servicing Agreement; provided, that it is also

 

    	-17-

    	 

    

 

understood and agreed that nothing in this sentence
shall be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder. Each Servicer shall
be required pursuant to the Lead Securitization Servicing Agreement (i) to service the Mortgage Loan in accordance with the Servicing
Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, (ii) to provide
information to each servicer under each Non-Lead Securitization Servicing Agreement necessary to enable each such servicer to
perform its servicing duties under such Non-Lead Securitization Servicing Agreement, and (iii) to not take any action or refrain
from taking any action or follow any direction inconsistent with the foregoing.

 

At
any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note
Holders agree to cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note
Holders, pursuant to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing
Agreement and all references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent
servicing agreement; provided, that if a Non- Lead Securitization Note is in a Securitization and the servicer(s) to be
appointed under such replacement servicing agreement would not otherwise meet the conditions to be a servicer under the Lead Securitization
Servicing Agreement that is being replaced, then a Rating Agency Confirmation shall have been obtained from each Rating Agency
with respect to the securities issued in connection with such Securitization for such Non-Lead Securitization Note; provided,
further, that until a replacement servicing agreement has been entered into, the Lead Securitization Note Holder shall cause
the Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing Agreement, as if such agreement
were still in full force and effect with respect to the Mortgage Loan, by the applicable Servicer in the Lead Securitization or
by any Person appointed by the Lead Securitization Note Holder that is a qualified servicer meeting the requirements of the Lead
Securitization Servicing Agreement. The Note Holders acknowledge that at any time that the Mortgage Loan is no longer subject
to the provisions of the Lead Securitization Servicing Agreement, the Master Servicer shall have no further obligation to make
P&I Advances with respect to the Mortgage Loan.

 

(b)          The
Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, or the Special
Servicer, on an emergency basis, to the extent provided in the Lead Securitization Servicing Agreement) shall make (or in the
case of the Special Servicer, may but is not obligated to make) the following advances, subject to the terms of the Lead Securitization
Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage Loan and (ii) P&I Advances on the Lead Securitization
Note. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for a Servicing
Advance, first, from funds on deposit in the Collection Account (as defined in the Lead Securitization Servicing Agreement)
and/or the related Serviced Companion Loan Custodial Account (as defined in the Lead Securitization Servicing Agreement) for the
Mortgage Loan that (in any case) represent amounts received on or in respect of the Mortgage Loan, and then, in the case
of Servicing Advances that are Nonrecoverable Advances, if such funds on deposit in the Collection Account and the related Serviced
Companion Loan Custodial Account are insufficient, from general collections of the Lead Securitization as provided in the Lead
Securitization Servicing Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled
to reimbursement for

 

    	-18-

    	 

    

 

Advance
Interest on a Servicing Advance (including any Nonrecoverable Advance) in the manner and from the sources provided in the Lead
Securitization Servicing Agreement, including from general collections of the Lead Securitization. Notwithstanding the foregoing,
to the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections
of the Lead Securitization as a reimbursement for a Servicing Advance that is a Nonrecoverable Advance or any Advance Interest
on a Servicing Advance (including any Nonrecoverable Advance), each Non-Lead Securitization Note Holder (including any Securitization
Trust into which such Non-Lead Securitization Note is deposited) shall be required to, promptly following notice from the Master
Servicer, reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Advance or Advance Interest.

 

In
addition, any Non-Lead Securitization Note Holder (including, but not limited to, any Securitization Trust into which such Non-Lead
Securitization Note is deposited) shall be required to, promptly following notice from the Master Servicer or the Special Servicer,
pay or reimburse the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share of any fees,
costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee, the Trust Advisor, the Depositor or CREFC®”,
as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, to the extent amounts on
deposit in the related Serviced Companion Loan Custodial Account are insufficient for reimbursement of such amounts. Each Non-Lead
Securitization Note Holder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify
each of the following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the
Lead Securitization Servicing Agreement) each of the Depositor under the Lead Securitization Servicing Agreement, the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee and the Trust Advisor (and any director, officer, member, manager,
employee or agent of any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization
Servicing Agreement in respect of other mortgage loans) (the “Indemnified Parties”) against any claims, losses,
penalties, fines, forfeitures, 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 Trust
Advisor, incurred in connection with the provision of services for the Mortgage Loan) under the Lead Securitization Servicing
Agreement (collectively, the “Indemnified Items”) to the extent of its pro rata share of such Indemnified
Items, and to the extent amounts on deposit in the related Serviced Companion Loan Custodial Account are insufficient for reimbursement
of such amounts, each Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer,
the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the
insufficiency; provided, that a Non-Lead Securitization Note Holder’s duty to pay Indemnified Items to the Trust
Advisor shall be subject to any limitations and conditions (including limitations and conditions with respect to the timing of
such payments and the sources of funds for such payments) as may be set forth from time to time in a Non-Lead Securitization Servicing
Agreement.

 

Any
Non-Lead Master Servicer (or Non-Lead Trustee (if not made by such Non- Lead Master Servicer)) may be required to make P&I
Advances on the respective Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead

 

    	-19-

    	 

    

 

Securitization
Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer
and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance
to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization
Servicing Agreement. Any Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization
Servicing Agreement, as applicable, shall each be entitled to make its own recoverability determination with respect to a P&I
Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance
with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any Non-Lead
Master Servicer or Non-Lead Trustee, as applicable, shall each be required to notify the other of the amount of its P&I Advance
within two (2) Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable
(with respect to the Lead Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as
applicable (with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable
or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee,
as applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing
Advance is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing
Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or
such Non-Lead Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in
the case of the a determination of non- recoverability by a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead
Trustee) shall notify the Master Servicer and the Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee,
as the case may be, of such other Securitization within one (1) Business Day of making such determination. Each of the Master
Servicer and the Trustee, any Non-Lead Master Servicer and any Non-Lead Trustee, as applicable, shall only be entitled to reimbursement
for a P&I Advance and Advance Interest thereon that becomes non- recoverable first, from the related Serviced Companion
Loan Custodial Account from amounts allocable to the Note for which such P&I Advance was made, and then, if such funds
are insufficient, (i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust,
pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of a Non-Lead Securitization Note, from
general collections of the related Securitization Trust, as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement.

 

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

 

(i)
          such Non-Lead Securitization Note Holder shall be responsible for
its pro rata share of any Servicing Advances that are Nonrecoverable Advances (and Advance Interest thereon) and any
Additional Trust 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

 

    	-20-

    	 

    

 

each respective Note
are insufficient to cover such Servicing Advances or Additional Trust Expenses, (x) the related Non-Lead Master Servicer will
be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, pay or reimburse, pay
or reimburse the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, out of general
collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing Agreement
for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances and/or Additional Trust Expenses, and (y) if the Lead Securitization Servicing Agreement permits the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee or the Trust Advisor to reimburse itself from the Lead Securitization
Trust’s general collections, then the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee
or the Trust Advisor, as applicable, may do so and the related Non-Lead Master Servicer will be required to, promptly following
notice from the Master Servicer, the Special Servicer or the Trustee, pay or reimburse the Lead Securitization Trust out of general
collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing Agreement
for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances (and Advance Interest thereon) and/or Additional Trust Expenses;

 

(ii)          each
of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of
Lead Securitization Servicing Agreement) by the Securitization Trust holding such Non-Lead Securitization Note, 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 related Serviced Companion Loan Custodial Account 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 its pro rata share of the
insufficiency out of general collections in the collection account (or equivalent account) established under such Non-Lead Securitization
Servicing Agreement; provided, that a Non-Lead Securitization Servicing Agreement may include limitations and conditions
on the payment or reimbursement of Indemnified Items to the Trust Advisor (including limitations and conditions with respect to
the timing of such payments or reimbursements and the sources of funds for such payments or reimbursements);

 

(iii)         the
related Non-Lead Master Servicer or Non-Lead Certificate Administrator, as applicable, will be required to deliver to the Trustee,
the Certificate Administrator, the Special Servicer, the Master Servicer and the Trust Advisor (x) promptly following Securitization
of such Non-Lead Securitization Note, notice of the deposit of such Non-Lead Securitization Note into a Securitization Trust (which
notice shall also provide contact information for the related Non-Lead Trustee, certificate administrator, Non-Lead Master Servicer,
Non-Lead Special Servicer and the party designated to exercise the rights of the “Non-Controlling Note Holder” under
this Agreement), accompanied by a certified copy of the related executed Non-Lead Securitization Servicing Agreement and (y) notice
of any subsequent change in the identity of the Non-Lead Master Servicer or the party designated to exercise the rights of

 

    	-21-

    	 

    

 

 the
“Non-Controlling Note Holder” with respect to such Non-Lead Securitization Note under this Agreement (together with
the relevant contact information); and

 

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

 

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

 

(e)          In
addition to the foregoing, each Securitization Servicing Agreement shall contain terms and conditions that are customary for securitization
transactions involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax
elections of the trust fund formed pursuant to such Securitization Servicing Agreement, (ii) required by law or changes in any
law, rule or regulation or (iii) requested by the Rating Agencies rating the related Securitization. Each Non-Lead Securitization
Note Holder shall have the right to designate the Non-Lead Master Servicer and Non-Lead Special Servicer with respect to the Securitization
related to its Note, as long as each such Servicer satisfies the conditions to be the master servicer or special servicer, as
applicable, set forth in the Lead Securitization Servicing Agreement. Without limiting the generality of any provision set forth
above, for purposes of the Mortgage Loan, each Securitization Servicing Agreement shall contain (a) provisions requiring the related
master servicer and the related special servicer to maintain, or subjecting them to possible termination for not maintaining,
compliance with customary servicer rating criteria (but the rating agencies need not be the same) and (b) provisions similar in
all material respects to or materially consistent with those set forth in the BACM 2015-UBS7 PSA (but allowing for changes in
CMBS documentation in connection with revised Regulation AB) with respect to (i) periodic reporting and periodic delivery of service
provider compliance documents under Regulation AB (and, in any event, each Securitization Servicing Agreement shall require such
reporting and delivery so long as the Lead Securitization is required to file periodic reports under the Securities Exchange Act
of 1934, as amended), (ii) servicing transfer events that would result in the transfer of the Mortgage Loan to special servicing
status, (iii) the

 

    	-22-

    	 

    

 

authority of the Controlling Note Holder (or the Master Servicer or Special Servicer on its behalf) to grant
or agree or consent to material modifications, waivers and amendments to the Mortgage Loan, or to approve material assignments
and assumptions or material additional indebtedness in connection with the Mortgage Loan, (iv) the potential termination of the
related master servicer and special servicer following a servicer termination event, (v) requirements to obtain an appraisal or
appraisal update following a transfer of the Mortgage Loan to special servicing status and periodic updates thereof, (vi) duties
of the special servicer in respect of foreclosure and the management of REO property, (vii) primary servicing, special servicing,
workout and liquidation fees (and, in any event, the fees at which such compensation accrue or are determined shall not exceed
0.0050%, 0.25% (or, if such rate would result in a special servicing fee that would be less than $2,000 in any given month, such
higher rate as would result in a special servicing fee equal to $2,000), 1.00% and 1.00%, respectively) and (viii) indemnification
of the Depositor, Master Servicer, Special Servicer, Certificate Administrator, Trustee and Trust Advisor under the Lead Securitization
Servicing Agreement (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified
as indemnified parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) against any claims,
losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses
incurred in connection with servicing and administration of the Mortgage Loan (or, with respect to the related trust advisor,
incurred in connection with the provision of services for the Mortgage Loan) to the same extent that the Indemnified Parties are
indemnified under the Lead Securitization Servicing Agreement against the Indemnified Items; provided, that (A) this statement
shall not be construed to prohibit differences in timing, control or consultation triggers or thresholds, terminology, allocation
of ministerial duties between multiple servicers or other service providers or certificateholder or investor voting or consent
thresholds, or to prohibit or restrict additional approval, consent, consultation, notice or rating agency communication and rating
agency confirmation requirements; and (B) if there is any conflict between this sentence and any other provision of this Agreement,
such other provision of this Agreement shall control.

 

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

 

Section
3.          Priority of Payments. Each Note shall be of equal
priority, and no portion of any Note shall have priority or preference over any portion of any other Note or security
therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in
connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the
form of Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale or distribution of any REO
Property, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or
instrument securing the Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other than proceeds, awards or
settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in
accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), shall be applied
by the Lead Securitization Note Holder (or its designee) to

 

    	-23-

    	 

    

 

 

 the Notes
on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage
Loan Documents (to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows
or received as reimbursements on account of recoveries in respect of property protection expenses or Servicing Advances then due
and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall be applied
to the extent set forth in, and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then
due, payable or reimbursable to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement
and any other additional compensation payable to it thereunder (including without limitation, any Additional Trust Expenses relating
to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof) reimbursable to, or payable by, such
parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Penalty Charges (to the extent provided in the immediately
following paragraph), but excluding (i) any P&I Advances (and interest thereon) on the Lead Securitization Note, which shall
be reimbursed in accordance with Section 2(b) hereof, and (ii) any Master Servicing Fees due to the Master Servicer in
excess of each Non-Lead Securitization Note’s pro rata share of that portion of such servicing fees calculated at
the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing
Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in accordance
with the Lead Securitization Servicing Agreement.

 

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

 

Section
4.          Workout. Notwithstanding anything to the contrary contained
herein, but subject to the terms and conditions of the Lead Securitization Servicing Agreement, and the obligation to act in accordance
with the Servicing Standard, if the Lead Securitization Note Holder, or any Servicer, in connection with a workout or proposed
workout of the Mortgage Loan, modifies the terms thereof such that (i) the principal balance of the Mortgage

 

    	-24-

    	 

    

 

Loan
is decreased, (ii) the Interest Rate is reduced, (iii) payments of interest or principal on any Note are waived, reduced or deferred
or (iv) any other adjustment is made to any of the payment terms of the Mortgage Loan, such modification shall not alter, and
any modification of the Mortgage Loan Documents shall be structured to preserve, the equal priorities of each Note as described
in Section 3.

 

Section
5.          Administration of the Mortgage Loan.

 

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

 

Each
Note Holder hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting
on behalf of the Lead Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan, to sell the Notes together
as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection
with any such sale, the Special Servicer shall be required to sell the Notes together as notes evidencing one whole loan and shall
require that all offers be submitted to the Special Servicer in writing. Whether any cash offer constitutes a fair price for the
Mortgage Loan shall be determined by the Special Servicer (unless the offeror is an Interested Person, in which case the Trustee
shall make such determination); 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.

 

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In
determining whether any offer received represents a fair price for the Mortgage Loan, the Trustee or the Special Servicer, as
applicable, shall be supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with
the Lead Securitization Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal,
on a new Appraisal. The Trustee shall select the appraiser conducting any such new Appraisal. In determining whether any such
offer constitutes a fair price for the Mortgage Loan, the Trustee or the Special Servicer, as applicable, shall instruct the appraiser
to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have obtained pursuant to the
Lead Securitization Servicing Agreement), as applicable, among other factors, the period and amount of any delinquency on the
affected Mortgage Loan, 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 Independent appraiser or other Independent expert in real estate
matters retained by the Trustee at the expense of the Holders in connection with making such determination. Notwithstanding the
foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on its behalf) shall not be permitted to sell the
Mortgage Loan without the written consent of each Non-Lead Securitization Note Holder (unless with respect to each Non-Lead Securitization
Note Holder, 50% or more of the related Note (or the class of securities issued in the applicable Non-Lead Securitization designated
as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling
Note Holder” is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower) unless the Special Servicer
has delivered to such Non-Lead Securitization Note Holder: (a) at least fifteen (15) Business Days prior written notice of any
decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid
package (together with any amendments to such bid packages) received by the Special Servicer in connection with any such proposed
sale; (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and
any documents in the Servicer Mortgage File requested by such Non-Lead Securitization Note Holder; and (d) until the sale is completed,
and a reasonable period of time (but no less time than is afforded to other offerors and the related Lead Securitization Controlling
Class Representative prior to the proposed sale date, all information and other documents being provided to other offerors and
all leases or other documents that are approved by the Master Servicer or the Special Servicer in connection with the proposed
sale. Subject to the foregoing, each Note Holder or its Note Holder Representative shall be permitted to submit an offer at any
sale of the Mortgage Loan.

 

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

 

    	-26-

    	 

    

 

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

 

(b)          The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan
(or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with
the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special
Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests
of each Note Holder. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights
and obligations of the Lead Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee on behalf of the Lead Securitization Note Holder to the extent set forth
in the Lead Securitization Servicing Agreement. The Lead Securitization Servicing Agreement shall not be amended in any manner
that may adversely affect any Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization Note Holder without
such Non-Lead Securitization Note Holder’s prior written consent. Each Non-Lead Securitization Note Holder (unless it is
the same Person as, or is an Affiliate of, the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization
Servicing Agreement with respect to its rights as specifically provided for therein.

 

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

 

    	-27-

    	 

    

 

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

 

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

 

(d)          If
any Note is included as an asset of a REMIC within the meaning of Section 860D(a) of the Code, then, any provision of this Agreement
to the contrary notwithstanding: (i) the Mortgage Loan shall be administered such that the Notes shall qualify at all times as
(or as interests in) a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, (ii) any real property
(and related personal property) acquired by or on behalf of the

 

    	-28-

    	 

    

  

Note Holders pursuant to a foreclosure,
exercise of a power of sale or delivery of a deed in lieu of foreclosure of the Mortgage or lien on such property following a default
on the Mortgage Loan shall be administered so that the interest of the pro rata share of each Note Holder therein shall
at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code and (iii) no Servicer
may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from any action of the Mortgage Loan
Borrower, or exercise or refrain from exercising any powers or rights which the Note Holders may have under the Mortgage Loan Documents,
if any such action would constitute a “significant modification” of the Mortgage Loan, within the meaning of Section
1.860G-2(b) of the regulations of the United States Department of the Treasury, more than three (3) months after the startup day
of the REMIC which includes the Notes (or any portion thereof). Each Note Holder agrees that the provisions of this paragraph shall
be effected by compliance with any REMIC related provisions in the Lead Securitization Servicing Agreement relating to the administration
of the Mortgage Loan. All costs and expenses of compliance with this Section 5(d), to the extent that such costs and expenses
relate to administration of a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC
Provisions or the actual payment of any REMIC tax or expense, shall be borne by all of the Note Holders collectively, each contributing
on a pro rata and pari passu basis according to the Percentage Interest represented by each Note.

 

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

 

Section 6.          Rights
of the Controlling Note Holder.

 

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

 

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shall not be required to recognize any
Person as a Controlling Note Holder Representative until the Controlling Note Holder has notified such Servicer or Trustee of such
appointment and, if the Controlling Note Holder Representative is not the same Person as the Controlling Note Holder, the Controlling
Note Holder Representative provides any Servicer or Trustee with written confirmation of its acceptance of such appointment, an
address and telecopy number for the delivery of notices and other correspondence and a list of officers or employees of such person
with whom the parties to this Agreement may deal (including their names, titles, work addresses and telecopy numbers). The Controlling
Note Holder shall promptly deliver such information to any Servicer. None of the Servicers, Trust Advisor and Trustee shall be
required to recognize any person as a Controlling Note Holder Representative until they receive such information from the Controlling
Note Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current Controlling Note Holder
Representative.

 

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

 

Each Non-Controlling
Note Holder shall provide notice of its identity and contact information (including any change thereof) to the Trustee, Certificate
Administrator, the Master Servicer and the Special Servicer under the Lead Securitization; provided, that each Initial Note
Holder shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator, the Master Servicer
and the Special Servicer under the Lead Securitization shall be entitled to conclusively rely on such identity and contact information
received by it and shall not be liable in respect of any deliveries hereunder sent in reliance thereon.

 

Each Non-Controlling
Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights and obligations
with respect to the

 

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Mortgage Loan (with respect to such
Note Holder, the “Non-Controlling Note Holder Representative”). All of the provisions relating to the
Controlling Note Holder and the Controlling Note Holder Representative set forth in the first paragraph of this Section
6(a) (except those contained in the last sentence thereof) and the second paragraph of this Section 6(a)
shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder Representative mutatis
mutandis.

 

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

 

(b)          The
Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder and the rights
and powers granted to the Lead Securitization Controlling Class Representative with respect to the Mortgage Loan (assuming that
a “Subordinate Control Period” or similar period under, and as defined in, the Lead Securitization Servicing Agreement
is in effect). In addition, the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to all
matters related to the Mortgage Loan if it is 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 implement any Major Decision unless it has obtained the prior written consent
of the Special Servicer and (ii) the Special Servicer shall not be permitted to consent to the Master Servicer’s implementing
any Major Decision nor will the Special Servicer itself be permitted to implement any Major Decision as to which the Controlling
Note Holder has objected in writing within ten (10) Business Days (or 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 Controlling
Note Holder as may be necessary in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect
to such Major Decision. The Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such
other actions with respect to the Mortgage Loan as the Controlling Note Holder may deem advisable.

 

If the Controlling Note
Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Decision within ten (10) Business
Days (or thirty (30) days with respect to an Acceptable Insurance Default) after delivery to the Controlling Note Holder by the
applicable Servicer of written notice of a proposed Major Decision (which notice shall contain a legend, in conspicuous boldface
type, substantially similar to the following: “THIS IS A REQUEST FOR ACTION APPROVAL. IF THE CONTROLLING NOTE HOLDER FAILS
TO APPROVE OR DISAPPROVE THE ENCLOSED ACTION WITHIN TEN (10) BUSINESS DAYS, SUCH ACTION MAY BE DEEMED APPROVED”) together
with any information requested by the Controlling Note Holder as may be necessary in the reasonable judgment of the Controlling
Note Holder in order to make a judgment, then upon the expiration of such ten (10) Business Day period (or thirty (30) days with
respect to an Acceptable Insurance Default), such Major Decision shall be deemed to have been approved by the Controlling Note
Holder.

 

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

 

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

 

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

 

Section 7.          Appointment
of Special Servicer. The Controlling Note Holder (or its Controlling Note Holder Representative) shall have the right (subject
to the terms, conditions and limitations in the Lead Securitization Servicing Agreement) at any time and from time to time, with
or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special
Servicer in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person
to serve as Special Servicer shall be made by delivering to each other Note Holder, the Master Servicer, the Special Servicer and
each other party to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying the other
conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation, a Rating
Agency Communication or a Rating Agency Confirmation, but only if required by the terms of the Lead Securitization Servicing Agreement),
if any. The Controlling Note Holder shall be solely responsible for any expenses incurred in connection with any such replacement
without cause. The Controlling Note Holder shall notify the other parties hereto of its termination of the then currently serving
Special Servicer and its appointment of a replacement Special Servicer in

 

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accordance with this Section 7.
If the Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of
the securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead
Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the Controlling
Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the Mortgage Loan as
aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects any Non-Controlling Note
Holder, such Non-Controlling Note Holder shall have the right to direct the Trustee (or at any time that the Mortgage Loan is no
longer included in a Securitization Trust, the Controlling Note Holder) to terminate the Special Servicer under the Lead Securitization
Servicing Agreement solely with respect to the Mortgage Loan pursuant to and in accordance with the terms of the Lead Securitization
Servicing Agreement. Each Note Holder acknowledges and agrees that any successor special servicer appointed to replace the Special
Servicer with respect to the Mortgage Loan that was terminated for cause at a Non-Controlling Note Holder’s direction cannot
at any time be the person (or an Affiliate thereof) that was so terminated without the prior written consent of such Non-Controlling
Note Holder. Each Non-Controlling Note Holder shall be solely responsible for reimbursing the Trustee’s or the Controlling
Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer
and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Lead Securitization’s
collection account (or equivalent account).

 

Section 8.          Payment
Procedure.

 

(a)
          The Lead Securitization Note Holder (or the Master Servicer, the
Special Servicer or the Trustee acting on its behalf), in accordance with the priorities set forth in Section 3 and
subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments
allocable to the Notes to the “Collection Account” and/or “Serviced Companion Loan Custodial Account”
(or the related analogous term and each as defined in the Lead Securitization Servicing Agreement) pursuant to and in
accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer, the
Special Servicer or the Trustee acting on its behalf) shall deposit such amounts to the applicable account within one (1)
Business Day of receipt of properly identified funds by the Lead Securitization Note Holder (or the Master Servicer acting on
its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent that any payment is received
after 2:00 p.m. (Eastern time) on any given Business Day, the Master Servicer is required to use commercially
reasonable efforts to deposit such payment into the applicable account within one (1) Business Day of receipt of such
payment, but, in any event , the Master Servicer is required to deposit such payments into the applicable account within two
(2) Business Days of receipt of such payment).

 

(b)           If
the Lead Securitization Note Holder (or the Servicer acting on its behalf) determines, or a court of competent jurisdiction orders,
at any time that any amount received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent
conveyance, preference or similar law, be returned to the Mortgage Loan Borrower or paid to any Note Holder or any Servicer or
paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead Securitization Note Holder (or
the Servicer acting on

 

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its behalf) shall not be required to distribute
any portion thereof to any Non-Lead Securitization Note Holder and each Non-Lead Securitization Note Holder shall promptly on demand
by the Lead Securitization Note Holder repay to the Lead Securitization Note Holder (or the Servicer acting on its behalf) any
portion thereof that the Lead Securitization Note Holder (or the Servicer acting on its behalf) shall have theretofore distributed
to such Non-Lead Securitization Note Holder, together with interest thereon at such rate, if any, as the Lead Securitization Note
Holder (or the Servicer acting on its behalf) shall have been required to pay to any Mortgage Loan Borrower, Master Servicer, Special
Servicer or such other Person with respect thereto.

 

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

 

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

 

Section 9.          Limitation
on Liability of the Note Holders. No Note Holder shall have any liability to any other Note Holder with respect to its Note
except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on
the part of such Note Holder; provided, that, notwithstanding any of the foregoing to the contrary, each Servicer will nevertheless
be subject to the obligations and standards (including the Servicing Standard) set forth in the related Securitization Servicing
Agreement.

 

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

 

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

 

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

 

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governmental investigation against such
Note Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

Section 12.          No
Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto
shall be deemed to constitute the relationship created hereby between the Note Holders as a partnership, association, joint venture
or other entity. The Lead Securitization Note Holder shall have no obligation whatsoever to offer to any Non-Lead Securitization
Note Holder the opportunity to purchase a participation interest in any future loans originated by the Lead Securitization Note
Holder or its Affiliates and if the Lead Securitization Note Holder chooses to offer to any Non-Lead Securitization Note Holder
the opportunity to purchase a participation interest in any future mortgage loans originated by the Lead Securitization Note Holder
or its Affiliates, such offer shall be at such purchase price and interest rate as the Lead Securitization Note Holder chooses,
in its sole and absolute discretion. No Non-Lead Securitization Note Holders shall have any obligation whatsoever to purchase from
the Lead Securitization Note Holder a participation interest in any future loans originated by the Lead Securitization Note Holder
or its Affiliates.

 

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

 

Section 14.          Sale
of the Notes.

 

(a)          Each
Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose
of all or any portion of its respective Note (or a participation interest in such Note) (a “Transfer”) except
to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after any such Transfer, any non-transferring
Note Holders shall be provided with (x) a representation from each transferee or the transferring Note Holder certifying that such
transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately following sentence
or a Transfer by a Note Holder to an entity that constitutes a Qualified Institutional Lender pursuant to clause (c)(iii) of the
definition thereof) and (y) a copy of the assignment and assumption agreement referred to in Section 15. If a Note Holder
intends to Transfer its respective Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender, it
must first obtain the consent of each non-transferring Note Holder and, if any such non-transferring Note Holder’s Note is
held in a Securitization Trust, obtain a Rating Agency Confirmation from each of the applicable engaged Rating Agencies for such
Securitization Trust. Notwithstanding the foregoing, without each non-transferring Note Holder’s prior consent (which will
not be unreasonably withheld), and, if any such non-transferring Note Holder’s Note is held in a Securitization Trust, without
a Rating Agency from

 

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each of the applicable engaged Rating Agencies
for such Securitization, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note)
to the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void
and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it shall pay the expenses of any
non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee and any Controlling
Note Holder or Controlling Note Holder Representative) and all expenses relating to the confirmation from the Rating Agencies in
connection with any such Transfer. Notwithstanding the foregoing, unless the related Note is included in a Securitization, each
Note Holder shall have the right, without the need to obtain the consent of any other Note Holder, the Rating Agencies or any other
Person, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section
14(a) shall apply in the case of (1) a sale of Note A-1 together with Note A-2, Note A-3 and Note A-4, in accordance with the terms
and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the
terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage
Loan becoming a Defaulted Loan, to a single member limited liability or limited partnership, 100% of the equity interest in which
is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships, by the
Lead Securitization Trust.

 

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

 

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

 

(c)          Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage
Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Note Holder and that is either
a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or
the equivalent) or better by each applicable Rating Agency (or, if not rated by an applicable Rating Agency, an equivalent (or
higher) rating from any two of Fitch, Moody’s and S&P) (a “Note Pledgee”), on terms and conditions
set forth in this Section 14(c), it being further

 

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agreed that a financing provided by a Note
Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note and is structured as a repurchase arrangement,
shall qualify as a “Pledge” hereunder, provided that a Note Pledgee which is not a Qualified Institutional
Lender may not take title to the pledged Note without a Rating Agency Confirmation. Upon written notice by the applicable Note
Holder to each other Note Holder and any Servicer that a Pledge has been effected (including the name and address of the applicable
Note Pledgee), each other Note Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give Note Pledgee
written notice of any default by the pledging Note Holder in respect of its obligations under this Agreement of which default such
Note Holder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Note
Holder in respect of its obligations to each other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure
any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against such
Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or
delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any notice of default under this Agreement
simultaneously with the giving of same to the pledging Note Holder and accept any cure thereof by such Note Pledgee which such
pledging Note Holder has the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Note
Holder; (v) that such other Note Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably
request, provided that any such certificate(s) shall be in a form reasonably satisfactory to such other Note Holder; and
(vi) that, upon written notice (a “Redirection Notice”) to each other Note Holder and any Servicer by such Note
Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods, under the pledging Note Holder’s
obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Note Holder and such Note Pledgee
(which notice need not be joined in or confirmed by the pledging Note Holder), and until such Redirection Notice is withdrawn or
rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note Holder or Servicer would otherwise
be obligated to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead Securitization Servicing
Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases each other Note Holder and any Servicer from
any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s compliance with any
Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee. Note Pledgee shall
be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment
in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders
and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof
which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in
lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and
obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations
of the pledging Note Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such
Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section
14(c) shall remain effective as to any Note Holder (and any

 

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Servicer) unless and until such Note Pledgee
shall have notified any such Note Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has
terminated.

 

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

 

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

 

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

 

(iii)         such
Note Holder pledges (or sells, transfers or assigns as part of a repurchase facility) its interest in its Note to the Conduit as
collateral for the Conduit Inventory Loan;

 

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

 

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

 

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

 

In connection with any
Transfer of a Note (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment
and assumption agreement (unless the transferee is a Securitization Trust and the related pooling and servicing

 

    	-39-

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-40-

    	 

    

 

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

 

Section 18.          Modifications.
This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each Note Holder. Additionally,
for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend or modify this Agreement without
first delivering a Rating Agency Communication to each Rating Agency; provided that no such Rating Agency Communication
shall be required in connection with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that
may be defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, or (ii)
to make other provisions with respect to matters or questions arising under this Agreement, which shall not be inconsistent with
the provisions of this Agreement.

 

Section 19.          Statement
of Intent. The Agent and each Noteholder intend that the Notes be classified and maintained as a grantor trust under subpart
E, part I of subchapter J of chapter 1 of the Code that is a fixed investment trust within the meaning of Treasury Regulation §301.7701-4(c),
and the parties will not take any action inconsistent with such classification. It is neither the purpose nor the intent of this
Agreement to create a partnership, joint venture, “taxable mortgage pool” or association taxable as a corporation among
the parties.

 

Section 20.          Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective successors and assigns. Except as provided herein, including without limitation, with respect to the Trustee,
Certificate Administrator, Master Servicer and Special Servicer and any Non-Lead Master Servicer, Non-Lead Special Servicer or
Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable by any Person not a party
hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights or obligations under
this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the applicable Note Holder
hereunder. For the avoidance of doubt, the representations in Section 11 shall not be binding upon any Securitization Trust.

 

Section 21.          Counterparts.
This Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute one and the
same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document Format (PDF) or
by facsimile transmission shall be effective as delivery of a manually executed original counterpart of this Agreement.

 

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

 

Section 23.          Severability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws, such

 

    	-41-

    	 

    

 

provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

 

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

 

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

 

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

 

(c)          Each
Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit of the
Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage
Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise
pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary during the
term of this Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall
deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Note
Holder substantiating that such Note

 

    	-42-

    	 

    

 

Holder is not a Non-Exempt Person and that
the Lead Securitization Note Holder is not obligated under applicable law to withhold Taxes on sums paid to it with respect to
the Mortgage Loan or otherwise under this Agreement. Without limiting the effect of the foregoing, (i) if a Note Holder is created
or organized under the laws of the United States, any state thereof or the District of Columbia, it shall satisfy the requirements
of the preceding sentence by furnishing to the Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if
a Note Holder is not created or organized under the laws of the United States, any state thereof or the District of Columbia, and
if the payment of interest or other amounts by the Mortgage Loan Borrower is treated for United States income tax purposes as derived
in whole or part from sources within the United States, such Note Holder shall satisfy the requirements of the preceding sentence
by furnishing to the Lead Securitization Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments),
Form W-8BEN or Form W-8BEN-E, or successor forms, as may be required from time to time, duly executed by such Note Holder, as evidence
of such Note Holder’s exemption from the withholding of United States tax with respect thereto. The Lead Securitization Note
Holder shall not be obligated to make any payment hereunder with respect to any Non-Lead Securitization Note or otherwise until
the holder of such Note shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or
documents.

 

Section 26.         Custody
of Mortgage Loan Documents. Prior to the Note A-1 Securitization Date, the Note A-2 Securitization Date, the Note A-3 Securitization
Date and the Note A-4 Securitization Date, originals of all of the Mortgage Loan Documents (other than Note A-1, Note A-2, Note
A-3 and Note A-4) will be held by the Initial Agent on behalf of the registered holders of the Notes. On and after the earliest
of the Note A-2 Securitization Date, the Note A-3 Securitization Date and the Note A-4 Securitization Date, but prior to the Note
A-1 Securitization Date, the originals of all of the Mortgage Loan Documents (other than Note A-1 and the two other Notes not subject
to the Securitization on such Securitization Date) shall be held in the name of the trustee (and held by a duly appointed custodian
therefor) under the Note A-2 PSA, the Note A-3 PSA or the Note A-4 PSA, as applicable, on behalf of the registered holders of the
Notes. On and after the Note A-1 Securitization Date, the originals of all of the Mortgage Loan Documents (other than Note A-2,
Note A-3 and Note A-4) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor)
under the Note A-1 PSA, on behalf of the registered holders of the Notes.

 

Section 27.          Cooperation
in Securitization.

 

(a)          Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the related Securitizing Note Holder,
each related Non-Securitizing Note Holder shall use reasonable efforts, at such Securitizing Note Holder’s expense, to satisfy,
and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards
to which such Securitizing Note Holder customarily adheres or that may be reasonably required in the marketplace or by the Rating
Agencies in connection with such Securitization, including, entering into (or consenting to, as applicable) any modifications to
this Agreement or the Mortgage Loan Documents and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage
Loan Borrower to execute such modifications to the Mortgage Loan

 

    	-43-

    	 

    

 

Documents, in any such case, as may be
reasonably requested by the Rating Agencies to effect such Securitization; provided, that no Non-Securitizing Note Holder
shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable)
in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the amount of any payments
due to or priority of such payments to, such Non-Securitizing Note Holder or (ii) materially increase such Non-Securitizing Note
Holder’s obligations or materially decrease such Non-Securitizing Note Holder’s rights, remedies or protections. In
connection with any Securitization, each related Non-Securitizing Note Holder shall provide for inclusion in any disclosure document
relating to such Securitization such information concerning such Non-Securitizing Note Holder and its Note as the related Securitizing
Note Holder reasonably determines to be necessary or appropriate, and such Non-Securitizing Note Holder shall, at the Securitizing
Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency and such Securitizing Note Holder in
connection with such Securitization (including, without limitation, reasonably cooperating with the Securitizing Note Holder (without
any obligation to make additional representations and warranties) to enable the Securitizing Note Holder to make all necessary
certifications and deliver all necessary opinions (including customary securities law opinions) in connection with the Mortgage
Loan and such Securitization), as well as in connection with all other matters and the preparation of any offering documents thereof
and to review and respond reasonably promptly with respect to any information relating to such Non-Securitizing Note Holder and
its Note in any Securitization document. Each Note Holder acknowledges that in connection with any Securitization, the information
provided by it in its capacity as a Non-Securitizing Note Holder to the related Securitizing Note Holder may be incorporated into
the offering documents for such Securitization. Each Securitizing Note Holder and each Rating Agency shall be entitled to rely
on the information supplied by, or on behalf of, each Non-Securitizing Note Holder. The Securitizing Note Holder shall reasonably
cooperate with each Non-Securitizing Note Holder by providing all information reasonably requested that is in the Securitizing
Note Holder’s possession in connection with such Non-Securitizing Note Holder’s preparation of disclosure materials
in connection with a Securitization.

 

Upon request, each Securitizing
Note Holder shall deliver to each related Non-Securitizing Note Holder drafts of the preliminary and final offering memoranda,
prospectus supplement, free writing prospectus and any other disclosure documents and the pooling and servicing agreement for the
Securitization of such Securitizing Note Holder’s Note and provide reasonable opportunity to review and comment on such documents.

 

Section 28.          Notices.
All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall be in writing and personally
delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same day sends a confirming copy of
such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight delivery service (charges prepaid)
or (iv) certified United States mail, postage prepaid return receipt requested, and addressed to the respective parties at their
addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter inform the other party by
written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.

 

    	-44-

    	 

    

 

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

 

Section 30.          Certain
Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 31.          Reserved.

 

Section 32.         Resignation
or Termination of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent,
reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization
is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. UBSRES,
as Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor
Agent, at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously
with the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor
Agent under this Agreement in place of UBSRES without any further notice or other action. The termination or resignation of such
Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation
of such Master Servicer as Agent under

 

    	-45-

    	 

    

 

this Agreement, and any successor master
servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without
any further notice or other action.

 

Section 33.          Resizing.
Notwithstanding any other provision of this Agreement, for so long as UBSRES or BANA, or an affiliate thereof (each an “Original
Entity”) is the owner of each Non-Lead Securitization Note (each an “Owned Note”), such Original Entity
shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended
and restated notes or additional notes (in either case, “New Notes”) reallocating the principal of an Owned
Note to such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal
amount equal to the then outstanding principal balance of such Owned Note provided that (i) the aggregate principal balance
of all outstanding New Notes following such amendments is no greater than the aggregate principal of such Owned Note prior to such
amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii)
all Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject
to the terms of this Agreement, (iv) the Original Entity holding the New Notes shall notify the Lead Securitization Note Holder,
the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations
and principal amounts, and (v) the execution of such amendments and New Notes does not violate the Servicing Standard. If the Lead
Securitization Note Holder so requests, the Original Entity holding the New Notes (and any subsequent holder of such Notes) shall
execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the foregoing
reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5),
no Note may be modified or amended without the consent of its holder and the consent of the holder of each other Note. In connection
with the foregoing (provided the conditions set forth in clauses (i) through (v) above are satisfied, with respect
to clauses (i) through (iv), as certified by the Original Entity, on which certification the Master Servicer can rely),
the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on
behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal. If
more than one New Note is created hereunder, for purposes of exercising the rights of a Controlling Note Holder or Non-Controlling
Note Holder hereunder, the “Controlling Note Holder” or “Non-Controlling Note Holder”, as applicable, shall
be as provided in the definitions of such terms in this Agreement; provided that the Controlling Note Holder shall be entitled
to designate any New Note created from the existing Controlling Note to be a Non-Controlling Note hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

    	-46-

    	 

    

 

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

 

	 	UBS REAL ESTATE SECURITIES INC.,

    as Initial Note A-1 Holder

    
	 	
	 	By:	/s/ Racquel
A.C. Small
	 	 	Name: Racquel
A.C. Small
	 	 	Title: Executive Director

	 	
	 	By:	/s/ Henry Chung
	 	 	Name: Henry Chung
	 	 	Title: Managing Director
	 	 	 

	 	UBS REAL ESTATE SECURITIES INC.,

    as Initial Note A-2 Holder

    
	 	
	 	By:	/s/ Racquel
A.C. Small
	 	 	Name: Racquel
A.C. Small
	 	 	Title: Executive Director

	 	
	 	By:	/s/ Henry Chung
	 	 	Name: Henry Chung
	 	 	Title: Managing Director
	 	 	 

	 	UBS REAL ESTATE SECURITIES INC.,

    as Initial Note A-3 Holder

    
	 	
	 	By:	/s/ Racquel
A.C. Small
	 	 	Name: Racquel
A.C. Small
	 	 	Title: Executive Director

	 	
	 	By:	/s/ Henry Chung
	 	 	Name: Henry Chung
	 	 	Title: Managing Director

 

    	Ellenton
                                         Agreement Between Note Holders

    	 

    

	 	BANK OF AMERICA, N.A.,

    as Initial Note A-4 Holder

	 	
	 	By:	/s/ Steven Wasser
	 	 	Name: Steven Wasser
	 	 	Title:Managing Director

    	Ellenton Agreement Between Note Holders

    	 

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan 

 

	Mortgage Loan Borrower(s):	Gulf Coast Factory Shops Limited Partnership
	Date of Mortgage Loan:	November 3, 2015
	Date of the Notes:	November 3, 2015
	Original Principal Amount of Mortgage Loan:	$178,000,000.00
	Promissory Note A-1 Principal Balance:	$58,000,000.00
	Promissory Note A-2 Principal Balance:	$38,800,000.00
	Promissory Note A-3 Principal Balance:	$10,000,000.00
	Promissory Note A-4 Principal Balance:	$71,200,000.00
	Location of Mortgaged Property:	5461 Factory Shops Blvd., Ellenton, Florida 34222
	Initial Maturity Date:	November 6, 2025

  

    	A-1

    	 

    

 

EXHIBIT B

 

		1.	Initial Note A-l Holder:

 

(Prior to Securitization of
Note A-1):

 

To UBSRES:

 

UBS Real Estate Securities Inc.

1285 Avenue of the Americas

New York, New York 10019

Attention: David Schell

Email: david.schell@ubs.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP

One World Financial Center

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

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

 

		2.	Initial Note A-2 Holder:

 

(Prior to Securitization of Note A-2):

 

To UBSRES:

 

UBS Real Estate Securities Inc.

1285 Avenue of the Americas

New York, New York 10019

Attention: David Schell

Email: david.schell@ubs.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP

One World Financial Center

New York, New York 10281

 

    	B-1

    	 

    

 

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

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

 

		3.	Initial Note A-3 Holder:

 

(Prior to Securitization of Note A-3):

 

To UBSRES:

 

UBS Real Estate Securities Inc.

1285 Avenue of the Americas

New York, New York 10019

Attention: David Schell

Email: david.schell@ubs.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP

One World Financial Center

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

Following Securitization of Note A-3 the applicable notice
addresses set forth in the related Securitization Servicing Agreement.

 

		4.	Initial Note A-4 Holder:

 

(Prior to Securitization of Note A-4):

 

Bank of America, N.A.

NC1-027-15-01

214 North Tryon Street

Charlotte, North Carolina 28255

Attention: Steven L. Wasser

Email: steve.l.wasser@baml.com

 

with a copy to:

 

    	B-2

    	 

    

 

Bank of America, N.A.

214 North Tryon Street, 20th Floor

NC1-027-20-05

Charlotte, North Carolina 28255

Attention: W. Todd Stillerman, Esq.

Email: william.stillerman@bankofamerica.com

 

Following Securitization of Note A-4
the applicable notice addresses set forth in the related Securitization Servicing Agreement.

 

    	B-3

    	 

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

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

 

    	C-1Exhibit 4.10

 

EXECUTION VERSION

 

CO-LENDER AGREEMENT

 

Dated as of December 15, 2015

 

by and among

 

COLUMN FINANCIAL, INC.

(Initial Note A-1 Holder)

 

and

 

MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS
LLC

(Initial Note A-2 Holder)

 

and

 

COLUMN FINANCIAL, INC.

(Initial Note A-3 Holder)

 

and

 

MORGAN STANLEY BANK, N.A.

(Initial Note A-4 Holder)

 

and

 

COLUMN FINANCIAL, INC.

(Initial Note B-1 Holder)

 

and

 

    	 

    	 

    

 

MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS
LLC

(Initial Note B-2 Holder)

 

Project Western (Pool A)

 

    	2

    	 

    

 

TABLE OF CONTENTS

 

	 	 	 	Page
	 	 	 
	Section 1	Definitions	1
	Section 2	Servicing of the Mortgage Loan	15
	Section 3	Priority of Payments	20
	Section 4	Workout	20
	Section 5	Administration of the Mortgage Loan	20
	Section 6	Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative	24
	Section 7	Appointment of Special Servicer	27
	Section 8	Payment Procedure	27
	Section 9	Limitation on Liability of the Note Holders	28
	Section 10	Bankruptcy	28
	Section 11	Representations of the Note Holders	29
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	29
	Section 13	Other Business Activities of the Note Holders	30
	Section 14	Sale of the Notes	30
	Section 15	Registration of the Notes and Each Note Holder	33
	Section 16	Governing Law; Waiver of Jury Trial	33
	Section 17	Submission To Jurisdiction; Waivers	34
	Section 18	Modifications	34
	Section 19	Successors and Assigns; Third Party Beneficiaries	35
	Section 20	Counterparts	35
	Section 21	Captions	35
	Section 22	Severability	35
	Section 23	Entire Agreement	35
	Section 24	Withholding Taxes	35
	Section 25	Custody of Mortgage Loan Documents	37
	Section 26	Cooperation in Securitization	37
	Section 27	Notices	38
	Section 28	Broker	38
	Section 29	Certain Matters Affecting the Agent	38
	Section 30	Termination and Resignation of Agent	39
	Section 31	Resizing	39

 

    	i

    	 

    

 

THIS CO-LENDER AGREEMENT
(this “Agreement”), dated as of December 15, 2015 by and among COLUMN FINANCIAL, INC. (“Column”
and together with its successors and assigns in interest, 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”), Morgan Stanley Mortgage
Capital Holdings LLC (“MSMCH” and together with its successors and assigns in interest, in its capacity as initial
owner of Note A-2, the “Initial Note A-2 Holder”), Column (together with its successors and assigns in interest,
in its capacity as initial owner of Note A-3, the “Initial Note A-3 Holder”), Morgan Stanley Bank, N.A. (together
with its successors and assigns in interest, in its capacity as initial owner of Note A-4, the “Initial Note A-4 Holder”),
Column (together with its successors and assigns in interest, in its capacity as initial owner of Note B-1, the “Initial
Note B-1 Holder”) and MSMCH (together with its successors and assigns in interest, in its capacity as initial owner of
Note B-2, the “Initial Note B-2 Holder” and, together with the Initial Note A-1 Holder, the Initial Note A-2
Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder and the Initial Note B-1 Holder, the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), Column and Morgan Stanley Bank, N.A. (“MSBNA”) originated a
certain loan (the “Mortgage Loan”) described on the schedule attached hereto as Exhibit A (the “Mortgage
Loan Schedule”) to the mortgage loan borrowers described on the Mortgage Loan Schedule (collectively, the “Mortgage
Loan Borrower”), which was evidenced, inter alia, by 6 promissory notes (as amended, modified or supplemented,
the “Notes”) in the aggregate original principal amount of $966,500,000 made by the Mortgage Loan Borrower in
favor of the Initial Note Holders; and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described in the Mortgage Loan Agreement (collectively, the “Mortgaged Properties”);

 

WHEREAS, on or prior to the date hereof, MSBNA assigned all of its right, title and interest in and to Note A-2 and Note B-2 to
MSMCH; and

 

WHEREAS, each Initial
Note Holder desires to enter into this Agreement to memorialize the terms under which they, and their successors and assigns, shall
hold the Notes;

 

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

 

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

 

“A Notes”
shall mean each of Note A-1, Note A-2, Note A-3 and Note A-4.

 

    	 

    	 

    

 

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

 

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

 

“Agent Office”
shall mean the designated office of the Agent, which office initially shall be the office of the Initial Note A-1 Holder listed
on Exhibit B hereto and after the Securitization Date, shall be the offices of the Servicer. The Agent Office is the address
to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated office
by notice to the Noteholders.

 

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

 

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

 

“B Notes”
shall mean each of Note B-1 and Note B-2.

 

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

 

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

 

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

 

“Certificate
Administrator” shall mean Wells Fargo Bank, National Association or its successor in interest, or any successor Certificate
Administrator appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

    	2

    	 

    

 

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

 

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

 

“Controlling Note Holder” shall mean the
Note A-1 Holder; provided that at any time Note A-1 is included in the Lead Securitization, references to the “Controlling
Note Holder” herein shall mean the holders of the majority of the class of securities issued in the Lead Securitization designated
as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling
Note Holder” hereunder or under the Lead Securitization Servicing Agreement, as and to the extent provided in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

“Depositor”
shall mean Credit Suisse First Boston Mortgage Securities Corp.

 

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

 

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

 

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

 

“Initial Note
A-1 Holder” shall mean Column, as the initial holder of Note A-1.

 

“Initial Note A-2 Holder” shall
mean MSMCH, as the initial holder of Note A-2.

 

“Initial Note
A-3 Holder” shall mean Column, as the initial holder of Note A-3.

 

“Initial Note A-4 Holder” shall
mean MSBNA, as the initial holder of Note A-4.

 

“Initial Note
B-1 Holder” shall mean Column, as the initial holder of Note B-1.

 

“Initial Note
B-2 Holder” shall mean MSMCH, as the initial holder of Note B-2.

 

“Initial Note
Holders” shall mean, collectively, the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder,
the Initial Note A-4 Holder, the Initial Note B-1 Holder and the Initial Note B-2 Holder.

 

    	3

    	 

    

 

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

 

“Interest Rate”
shall mean with respect to any Note, the Interest Rate (as defined in the Mortgage Loan Documents) payable on such Note.

 

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

 

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

 

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

 

“Lead Securitization
Notes” shall mean Note A-1, Note A-2, Note B-1 and Note B-2.

 

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

 

“Lead Securitization
Servicing Agreement” shall mean the trust and servicing agreement to be entered into in connection with the Securitization
of Note A-1 and issuance of the CSMC Trust 2015-GLPA, Commercial Mortgage Pass Through Certificates, Series 2015-GLPA, by and among
(a) the Trustee, (b) the Servicer, (c) the Special Servicer, (d) the Depositor and (e) the Certificate Administrator. The Servicing
Standard in the Lead Securitization Servicing Agreement shall require, among other things, that each Servicer, in servicing the
Mortgage Loan, must take into account the interests of each Note Holder.

 

“Lead Securitization
Subordinate Class Representative” shall have the meaning assigned to the term “Controlling Class Representative”
or any analogous term in the Lead Securitization Servicing Agreement.

 

    	4

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of November 4, 2015, among the mortgage loan borrowers described on
the Mortgage Loan Schedule, as Borrower, Column Financial, Inc. and Morgan Stanley Bank, N.A., collectively as Lender, as the same
may be amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

 

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

 

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

 

“Mortgage Loan
Borrower Related Party” shall have the meaning given to the term “Borrower Related Party” or any one or more
analogous terms in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

    	5

    	 

    

 

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

 

“Net Note A
Rate” shall mean the Senior Note Rate minus the Servicing Fee Rate.

 

“Net Note B
Rate” shall mean the Junior Note Rate minus the Servicing Fee Rate.

 

“Nonrecoverable
P&I Advance” shall mean a Nonrecoverable Advance as defined in the Lead Securitization Servicing Agreement that is
a P&I Advance.

 

“Nonrecoverable
Servicing Advance” shall mean a Nonrecoverable Advance as defined in the Lead Securitization Servicing Agreement that
is a Servicing Advance.

 

“Non-Controlling
Note” means each Note that is not included in the Lead Securitization.

 

“Non-Controlling
Note Holder” means each Note Holder other than the Note A-1 Holder. The Lead Securitization Note Holder (or the
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-Controlling Note Holder” herein or under the Lead Securitization Servicing
Agreement and, to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than
one party, the Non-Lead Securitization Servicing Agreement shall designate one party to deal with the Lead Securitization
Note Holder (or the Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to
the Lead Securitization Note Holder (and the Servicer and the Special Servicer acting on its behalf); provided that,
in the absence of such designation and notice, the Lead Securitization Note Holder (or the Servicer or the Special Servicer
acting on its behalf) shall be entitled to treat the last party as to which it has received written notice as having been
designated as the Non-Controlling Note Holder with respect to such Non-Controlling Note for all purposes of this
Agreement.

 

Prior to Securitization
of any Non-Lead Securitization Note (including any New Notes), all notices, reports, information or other deliverables required
to be delivered to each Non-Lead Securitization Note Holder or Non-Controlling Note Holder pursuant to this Agreement or the Lead
Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Servicer or the Special Servicer acting on its
behalf) only need to be delivered to each Non-Controlling Note Holder Representative and, when so delivered to each Non-Controlling
Note Holder Representative, the Lead Securitization Note Holder (or the Servicer or the Special Servicer acting on its behalf)
shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization
Servicing Agreement. Following Securitization of any Non-Lead Securitization Notes, all notices, reports, information or other
deliverables required to be delivered to such Non-Lead Securitization Note Holder or Non-Controlling Note Holder pursuant to this
Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the 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

 

    	6

    	 

    

 

Agreement) and, when
so delivered to the related Non-Lead Master Servicer and the related Non-Lead Special Servicer, the Lead Securitization Note Holder
(or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations
with respect to such items hereunder or under the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	7

    	 

    

 

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

 

“Note”
shall mean each Note with the designation and original principal amount set forth below, each dated as of November 4, 2015, made
by the Mortgage Loan Borrower in favor of the Initial Note Holder set forth in the chart below. 

	Note	 

                                                                                Initial Note
 Holder
	 

                                                                                Lead/Non-Lead
 Note
	Original Principal Balance
	Note A-1	Column	Lead	$276,250,000
	Note A-2	MSMCH	Lead	$148,750,000
	Note A-3	Column	Non-Lead	$130,000,000
	Note A-4	MSBNA	Non-Lead	$70,000,000
	Note B-1	Column	Lead	$221,975,000
	Note B-2	MSMCH	Lead	$119,525,000

 

“Note A Holder”
shall mean with regards to any A Note, the Initial Note Holder or any subsequent holder of such A Note, as applicable.

 

“Note B Holder”
shall mean with regards to any B Note, the Initial Note Holder or any subsequent holder of such B Note, as applicable.

 

“Note Holder”
shall mean with regards to any Note, the Initial Note Holder or any subsequent holder of such Note, as applicable.

 

“Note Holders”
shall mean collectively, the Initial Note Holders or any subsequent holder of the Notes.

 

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

 

“Note Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Principal Balance for the related
Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution
thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount
pursuant to Section 3 or 4, as applicable.

 

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

 

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

 

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

 

    	8

    	 

    

 

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached hereto
and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests relating
to commercial real estate, (ii) investing through a fund with total assets of at least $3,000,000,000 and committed capital of
at least $1,500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief
of debtors.

 

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

 

“Pro Rata and
Pari Passu Basis” shall mean (i) with respect to the A Notes and such Note Holders, the allocation of any particular
payment, collection, cost, expense, liability or other amount among such Notes or such Note Holders, as the case may be, without
any priority of any such A Note or any such Note Holder over another such A Note or Note Holder, as the case may be, and in any
event such that each A Note or Note Holder, as the case may be, is allocated its respective pro rata of such particular
payment, collection, cost, expense, liability or other amount, in each case based on the amounts due to each such Note Holder and
(ii) with respect to the B Notes and such Note Holders, the allocation of any particular payment, collection, cost, expense, liability
or other amount among such Notes or such Note Holders, as the case may be, without any priority of any such B Note or any such
Note Holder over another such B Note or Note Holder, as the case may be, and in any event such that each B Note or Note Holder,
as the case may be, is allocated its respective pro rata of such particular payment, collection, cost, expense, liability
or other amount, in each case based on the amounts due to each such Note Holder.

 

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

 

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

 

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

 

(c)           one or more of the following:

 

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

 

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

 

    	9

    	 

    

 

entity in which each
of the equity owners is an “accredited investor” within the meaning of, Rule 501(a) (1), (2), (3) or (7) of Regulation
D under the Securities Act of 1933, as amended, or

 

(iii)         a
Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized debt obligations
(“CDO”) secured by, or (c) a financing through an “owner trust” of, a Note or any interest
therein (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating
Agencies that assigned a rating to one or more classes of securities issued in connection with a Securitization (it being
understood that with respect to any Rating Agency that assigned such a rating to the securities issued by such
Securitization Vehicle, a Rating Agency Confirmation will not be required in connection with a transfer of such Note or any
interest therein to such Securitization Vehicle); (2) in the case of a Securitization Vehicle that is not a CDO, the special
servicer of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise acceptable to the Rating
Agencies rating each Securitization (such entity, an “Approved Servicer”) and such Approved Servicer is
required to service and administer such Note or any interest therein in accordance with servicing arrangements for the assets
held by the Securitization Vehicle which require that such Approved Servicer act in accordance with a servicing standard
notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a Securitization Vehicle
that is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed
by a CDO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses
(i), (ii), (iv) or (v) of this definition, or

 

(iv)         an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital
commitments of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified
Institutional Lender under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities
referred to in clause (i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the
fund manager responsible for the day-to-day management and operation of such investment vehicle and provided that at
least 50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that
are otherwise Qualified Institutional Lenders, or

 

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

 

in the case of any entity referred to in clause (c)(i), (ii),
(iii), (iv)(B) or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory surplus or
shareholders’ equity (except with respect to a pension advisory firm, 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 or operating commercial

 

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real estate
properties; provided that, in the case of the entity described in clause (iv)(B) above, the requirements of this
clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day
management and operation of such entity; or

 

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

 

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

 

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

 

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

 

“Recovered Costs”
shall mean Liquidation Fees, Workout Fees, Special Servicing Fees or interest on Advances or similar amounts previously paid by
the Servicer from the Collection Account to the extent reimbursed by or on behalf of the Mortgage Loan Borrower pursuant to the
Mortgage Loan Documents.

 

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

 

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“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”
shall mean with respect to any Note and any date of determination, the ratio of the Interest Rate on such Note Rate to the interest
rate payable on the Mortgage Loan as of such date of determination.

 

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

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, 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 securities
or placed any class of commercial mortgage 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.

 

“Reverse Sequential
Order” shall mean (i) with respect to the allocation of losses of principal, (a) first, to the reduction of the
Note Principal Balance of each of the B Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such
Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of the A Notes, on a

 

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Pro Rata and Pari Passu
Basis, until the Note Principal Balance of each such Note is reduced to zero and (ii) with respect to the allocation of any fees,
costs, liabilities or expenses incurred in connection with the servicing and administration of the Mortgage Loan, (a) first,
to the B Notes, on a Pro Rata and Pari Passu Basis, based on their respective Note Principal Balances (up to the amounts distributable
to such B Notes) and (b) second, to the A Notes, on a Pro Rata and Pari Passu Basis, based on their respective Note Principal
Balances.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Sequential Order” shall mean (a) first, to the reduction of the Note Principal Balance of each of the
A Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero; and (b) second,
to the reduction of the Note Principal Balance of each of the B Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal
Balance of each such Note is reduced to zero.

 

“Servicer”
shall mean KeyBank National Association or its successor in interest, or any successor Servicer appointed as provided in the Lead
Securitization 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.

 

“Servicing Advance”
shall have the meaning assigned to the term “Property Protection Advances” in the Lead Securitization Servicing Agreement
(or other analogous term under the Lead Securitization Servicing Agreement).

 

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“Servicing Fee
Rate” shall have the meaning given thereto in the Lead Securitization Servicing Agreement (or other analogous term under
the Lead Securitization Servicing Agreement).

 

“Special Servicer”
shall mean AEGON USA Realty Advisors, LLC, or its successor in interest, or any successor Special Servicer appointed as provided
in the Lead Securitization Servicing Agreement and this Agreement.

 

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

 

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

 

“Trustee”
shall mean Wells Fargo Bank, National Association or its successor in interest, or any successor Trustee appointed as provided
in the Lead Securitization Servicing Agreement.

 

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

 

Section 2.          Servicing
of the Mortgage Loan.

 

(a)          Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from
and after the Securitization Date pursuant to the Lead Securitization Servicing Agreement; provided that the Servicer
shall not be obligated to advance monthly payments of principal or interest in respect of any Note other than the Notes held
by the Lead Securitization Trust, to the extent provided in the 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 Properties and maintenance and enforcement of the
lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement including any provisions
governing the determination of non-recoverability. Each Note Holder acknowledges that any other Note Holder may elect, in its
sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section 26, reasonably cooperate
with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization. Subject to the terms
and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the appointment of the
Servicer, Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement by the Depositor and
the appointment of the initial Special Servicer by the Controlling Note Holder as

 

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may be replaced
pursuant to the terms of the Lead Securitization Servicing Agreement and agrees to reasonably cooperate with the Servicer and
the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing
Agreement. Each Note Holder hereby irrevocably appoints the Servicer, the Special Servicer and the Trustee in the Lead
Securitization as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the
administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at
all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing Agreement). In no event
shall the Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note Holder against any
other Note Holder or limit the Servicer in enforcing the rights of one Note Holder against any other Note Holder; however,
this statement shall not be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder.
Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage Loan in
accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, shall provide information to each Non-Lead Servicer under each Non-Lead Securitization Servicing
Agreement to enable each such Non-Lead Servicer to perform its servicing duties under the related Non-Lead Securitization
Servicing Agreement and shall not take any action or refrain from taking any action or follow any direction inconsistent with
the foregoing.

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement (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 “Lead Securitization 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; provided, further, however, that until a replacement servicing agreement
has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions
of the Lead Securitization Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage
Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is a qualified
servicer meeting the requirements of the Lead Securitization Servicing Agreement (provided however the Servicer shall have
no obligation to make any P&I Advance or Administrative Advance (as defined in the Lead Securitization Servicing Agreement)).

 

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

 

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any case) represent amounts
received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable Servicing Advances, if such funds
on deposit in the Collection Account are insufficient, from general collections of the Lead Securitization as provided in the Lead
Securitization Servicing Agreement and from general collections of each Non-Lead Securitization as provided below. The Servicer,
the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for Advance Interest Amounts on a Servicing
Advance or a Nonrecoverable Servicing Advance, in the manner and from the sources provided in the Lead Securitization Servicing
Agreement, including from general collections of the Lead Securitization and, in the case of Servicing Advances, from general collections
of each Non-Lead Securitization as provided below. To the extent the Servicer, the Special Servicer or the Trustee, as applicable,
obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable Servicing Advance or
any Advance Interest Amounts on a Servicing Advance or a Nonrecoverable Servicing Advance, each Non-Lead Securitization Note Holder
(including from general collections or any other amounts from any Non-Lead Securitization Trust) shall be required to, promptly
following notice from the Servicer, reimburse the Lead Securitization for the Non-Lead Securitization Note Holder’s allocable
share, to be determined in Reverse Sequential Order, of such Nonrecoverable Servicing Advance or Advance Interest Amounts.

 

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

 

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following notice from
the Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its allocable share,
to be determined in Reverse Sequential Order, of the insufficiency, (including, if a Non-Lead Securitization Note has been included
in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust).

 

The master servicer under
a non-lead Securitization (a “Non-Lead Master Servicer”) may be required to make P&I Advances on the related
Non-Lead Securitization Note, from time to time, subject to the terms of the related servicing agreement for the related Securitization
(each such agreement, a “Non-Lead Securitization Servicing Agreement”) and this Agreement. The Servicer, the
Special Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect
to a P&I Advance to be made on the Lead Securitization Notes based on the information that they have on hand and in accordance
with the Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer and the special servicer and the trustee under
each Non-Lead Securitization Servicing Agreement (respectively, a “Non-Lead Special Servicer” and a “Non-Lead
Trustee”), as applicable, shall be entitled to make their own recoverability determination with respect to a P&I
Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance
with the related Non-Lead Securitization Servicing Agreement. The Servicer and the Trustee, as applicable, and the related Non-Lead
Master Servicer or the related Non-Lead Trustee shall be required to notify the other of the amount of its P&I Advance within
two business days of making such advance. If the Servicer, the Special Servicer or the Trustee, as applicable (with respect to
the Lead Securitization Notes) or a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee, as applicable
(with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable
or an outstanding P&I Advance is or would be non-recoverable, or if the Servicer, the Special Servicer or the Trustee, as applicable,
subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would
be non-recoverable, then the Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of
a determination of non-recoverability by the Servicer, the Special Servicer or the Trustee) or the related Non-Lead Master Servicer
or the related Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the related Non-Lead Master Servicer, the related Non-Lead Special Servicer or the related Non-Lead Trustee)
shall notify the Servicer and the Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee, as the case
may be, of the other Securitization within two business days of making such determination.

 

P&I Advances with
respect to the Lead Securitization Notes shall be reimbursed solely out of amounts allocated to the Lead Securitization Notes pursuant
to the this Agreement and shall not be reimbursed out of amounts allocated to the Non-Lead Securitization Notes. Likewise, P&I
Advances with respect to any Non-Lead Securitization Notes will be reimbursed solely out of amounts allocated to such Non-Lead
Securitization Notes pursuant to this Agreement and will not be reimbursed out of amounts allocated to the Lead Securitization
Notes or the other Non-Lead Securitization Notes.

 

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(c)           Each Non-Lead Securitization
Note Holder agrees that, if the related 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
Note Holder shall be responsible for its allocable share, to be determined in Reverse Sequential Order, of any Servicing Advances
(and advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate to servicing and
administration of the Notes and the Mortgaged Properties, including without limitation, any unpaid Special Servicing Fees, Liquidation
Fees and Workout Fees relating to the Notes, and that in the event that the funds received with respect to each respective Note
are insufficient to cover such Servicing Advances or additional trust fund expenses, (A) the related Non-Lead Master Servicer will
be required to, promptly following notice from the Servicer or the Special Servicer, pay or reimburse the 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 related Non-Lead Securitization Servicing Agreement for such
Non-Lead Securitization Note Holder’s allocable share, to be determined in Reverse Sequential Order, of any such Nonrecoverable
Servicing Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due to
the Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged
Properties), and (B) if the Lead Securitization Servicing Agreement permits the Servicer, the Special Servicer, the Certificate
Administrator or the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the 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 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 the related Non-Lead Securitization Note Holder’s allocable share, to be determined in Reverse Sequential
Order, of any such Nonrecoverable Servicing Advances (together with advance interest thereon) and/or additional trust fund expenses
(including compensation due to the Servicer and the Special Servicer to the extent related to the servicing and administration
of the Mortgage Loan and the Mortgaged Properties);

 

(ii)           each of the Indemnified Parties shall be indemnified (as and to the same
extent the Lead Securitization Trust is required to indemnify each of such Indemnified Parties in respect of other mortgage loans
in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement and, in the case of the Lead
Securitization Trust, to the extent of any additional trust fund expenses with respect to the Mortgage Loan) by each Non-Lead Securitization
Trust, against any of the Indemnified Items to the extent of its allocable share, to be determined in Reverse Sequential Order,
of such Indemnified Items, and to the extent amounts on deposit in the Collection Account that are allocated to such Non-Lead Securitization
Note are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse each
of the applicable Indemnified Parties for the related Non-Lead Securitization Note’s allocable share, to be determined in
Reverse Sequential Order, of

 

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

 

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

 

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

 

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

 

(d)          [Reserved].

 

(e)          Each
Non-Lead Securitization Note Holder shall give each of the parties to the Lead Securitization Servicing Agreement (that will
not also be a party to the related Non-Lead Securitization Servicing Agreement) notice of the Non-Lead Securitization in
writing (which may be by e-mail) prior to the related Non-Lead Securitization Date. Such notice shall contain contact
information for each of the parties to the related Non-Lead Securitization Servicing Agreement. In addition, after the
related Non-Lead Securitization Date, the related Non-Lead Securitization Note Holder shall send a copy of the related
Non-Lead Securitization Servicing Agreement to each of the parties to the Lead Securitization Servicing Agreement.

 

Section 3.         Priority
of Payments. Each B Note and the right of the related Note B Holder to receive payments of interest, principal and other amounts
with respect to such B Note shall at all times be junior, subject and subordinate to each A Note and the right of the related
Note A Holder to receive payments of interest, principal and other amounts with respect to such A Note as set forth herein. 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 Properties or amounts realized as proceeds thereof, whether received in the form of Monthly
Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument
securing the Mortgage Loan or Insurance Proceeds or Condemnation Proceeds (other than proceeds, awards or settlements to be applied
to the restoration or repair of a Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of
the Mortgage Loan Documents, to the extent permitted

 

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by the 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, Certificate Administrator or Trustee with respect to the Mortgage Loan pursuant
to the Servicing Agreement, shall be applied by the Note A Holder (or its designee) and distributed by the Servicer for payment
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 Note A Holder in an amount equal to the accrued and unpaid interest
on the applicable A Note Principal Balance at the Net Note A Rate;

 

(b)          second, on a Pro Rata and Pari Passu Basis based on the
outstanding principal balances of each A Note, to each Note A Holder in an amount equal to all principal payments (or other amounts
allocated to principal) received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until such
A Note Principal Balance has been reduced to zero;

 

(c)           third, on a Pro Rata and Pari Passu Basis, to each Note A Holder up to the
amount of any unreimbursed costs and expenses paid by such Note A Holder including any Recovered Costs not previously reimbursed
to such Note A Holder (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, to each
Note B Holder in an amount equal to the accrued and unpaid interest on the applicable B Note Principal Balance at the Net Note
B Rate;

 

(e)           fifth, on a Pro Rata and Pari Passu Basis based on the outstanding principal balances of each B Note, to each Note
B Holder in an amount equal to all remaining principal payments (or other amounts allocated to principal) received, if any, with
respect to such Monthly Payment Date with respect to the Mortgage Loan, until the B Note Principal Balance has been reduced to
zero;

 

(f)           sixth, on a Pro Rata and Pari Passu Basis, any Prepayment Premium, to the extent paid by the Mortgage Loan Borrowers,
shall be paid to each Note A Holder in an amount up to its pro rata interest therein, based on the product of the applicable
A Note Percentage Interests multiplied by its Relative Spread;

 

(g)          seventh, 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 Note B Holder in an amount up to its pro rata
interest therein, based on the product of the applicable B Note Percentage Interest multiplied by its Relative Spread;

 

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(h)           eighth, if the proceeds
of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required to be applied in
accordance with the foregoing clauses (a)-(g) and, as a result of a Workout the Principal Balance of the B Notes have been reduced,
such excess amount shall be paid to the Note B Holders, on a Pro Rata and Pari Passu Basis, in an amount up to the reduction, if
any, of the applicable B Note Principal Balance as a result of such Workout, plus interest on such amount at the related Net Note
B Rate;

 

(i)            ninth, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be
otherwise applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any Advances,
to pay any Additional Servicing Expenses or to compensate a Servicer (in each case provided that such reimbursements or payments
relate to the Mortgage Loan), any such assumption or transfer fees, to the extent actually paid by the Mortgage Loan Borrower,
shall be paid to each Note A Holder and each Note B Holder, pro rata, based on their respective Percentage Interests; and

 

(j)            tenth, 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)-(i), any remaining amount shall be paid pro rata to each Note A Holder and each Note B Holder
in accordance with their respective initial Percentage Interests.

 

All expenses and losses
relating to the Mortgage Loan and the Mortgaged Properties, including without limitation losses of principal and interest, Servicing
Advances, advance interest, Special Servicing Fees, Liquidation Fees and Workout Fees, Appraisal Reduction Amounts and certain
other trust expenses, shall be allocated in Reverse Sequential Order. P&I Advances with respect to the Lead Securitization
Notes shall be reimbursed solely out of amounts allocated to the Lead Securitization Notes pursuant to the this Agreement and shall
not be reimbursed out of amounts allocated to the Non-Lead Securitization Notes. Likewise, P&I Advances with respect to any
Non-Lead Securitization Notes will be reimbursed solely out of amounts allocated to such Non-Lead Securitization Notes pursuant
to this Agreement and will not be reimbursed out of amounts allocated to the Lead Securitization Notes or the other Non-Lead Securitization
Notes. Any realized losses (including reductions by a bankruptcy court) applied to reduce the principal balance of the Mortgage
Loan shall be reimbursed in Sequential Order after all amounts of interest and principal have otherwise been paid in full on all
the Notes.

 

Section
4.         Workout. Notwithstanding anything to the contrary contained
herein, but subject to the terms and conditions of the Lead Securitization Servicing Agreement, and the obligation to act in
accordance with the Servicing Standard, if the Lead Securitization Note Holder, or any Servicer, in connection with a workout
or proposed workout of the Mortgage Loan, modifies the terms thereof such that (i) the principal balance of the Mortgage Loan
is decreased, (ii) the Interest Rate on any Note 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 sequential order of
payment of the Notes as set forth therein and all payments to the Note A Holders

 

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pursuant to Section 3
shall be made as though such workout did not occur, with the payment terms of each A Note remaining the same as they are on the
date hereof, and the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable
to such workout shall be borne, first, by the Note B Holders, on a Pro Rata and Pari Passu Basis, based on their respective
Note Principal Balances (up to their respective Note Principal Balances, together with accrued interest thereon at the Interest
Rate and any other amounts due to each Note B Holder, as applicable) and then, by the Note A Holders, on a Pro Rata and
Pari Passu Basis (up to their respective Note Principal Balances, together with accrued interest thereon at the Interest Rate and
any other amounts due to each Note A Holder, as applicable). Any recoveries in connection with a workout of the Mortgage Loan will
be allocated first, to the Note A Holders, on a Pro Rata and Pari Passu Basis, based on their respective Note Principal
Balances (up to their respective Note Principal Balances, together with accrued interest thereon at the Interest Rate and any other
amounts due to each Note A Holder, as applicable), and then, to the Note B Holders, on a Pro Rata and Pari Passu Basis,
based on their respective Note Principal Balances (up to their respective Note Principal Balances, together with accrued interest
thereon at the Interest Rate and any other amounts due to each Note B Holder, as applicable).

 

Section 5.          Administration
of the Mortgage Loan.

 

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

 

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Upon the Mortgage Loan
becoming a Defaulted Mortgage Loan, each Non-Lead Securitization Note Holder hereby acknowledges the right and obligation of the
Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) to sell the Non-Lead
Securitization Notes together with the Lead Securitization 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 be required to sell
each Non-Lead Securitization Note together with the Lead Securitization Notes in the manner set forth in the Lead Securitization
Servicing Agreement. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on behalf
of the Lead Securitization Note Holder) shall not be permitted to sell the Mortgage Loan if it becomes a Defaulted Mortgage Loan
without the written consent of each Non-Controlling Note Holder (provided that such consent is not required if the Non-Controlling
Note Holder is a Mortgage Loan Borrower Related Party) unless the Special Servicer has delivered to each Non-Controlling Note Holder:
(a) at least 15 Business Days’ prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least 10
days prior to the permitted 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 Mortgaged Properties, and any documents in the Loan File reasonably requested by such
Non-Controlling Note Holder that are material to the price of the Mortgage Loan; and (d) until the sale is completed, and a reasonable
period of time (but not less time than is afforded to other offerors) prior to the proposed sale date, all information and other
documents being provided to other offerors and all leases or other documents that are approved by the Servicer or the Special Servicer
in connection with the proposed sale; provided, that such Non-Controlling Note Holder may waive any of the delivery or timing
requirements set forth in this sentence. Subject to the terms of the Lead Securitization Servicing Agreement, each Non-Controlling
Note Holder shall be permitted to bid at any sale of the Mortgage Loan, unless such Person is the Mortgage Loan Borrower or an
agent or Affiliate of the Mortgage Loan Borrower.

 

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

 

The authority of the
Lead Securitization Note Holder to sell the Non-Lead Securitization Notes, and the obligations of the Non-Lead Securitization Note
Holders to execute and deliver instruments or deliver the Non-Lead Securitization Note upon request of the Lead Securitization
Note Holder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization
is terminated in accordance with its terms.

 

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(b)           The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan (or to
the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant to
the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the
Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the 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 Note Holders as a collective whole (taking into account that the B Notes are junior to the A Notes). The Note Holders agree
to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and obligations of the Lead Securitization
Note Holder described hereunder may be exercised by the Servicer, the Special Servicer, the Certificate Administrator and/or the
Trustee on behalf of the Lead Securitization Note Holder. The Lead Securitization Servicing Agreement shall not be amended in any
manner that may adversely affect any Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization Note Holder
without such Non-Lead Securitization Note Holder’s prior written consent. Each Non-Lead Securitization Note Holder (unless
it is the same Person as or an Affiliate of the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization
Servicing Agreement with respect to its rights as specifically provided for therein.

 

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

 

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

 

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

 

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

 

(f)            The Mortgage Loan
shall be treated as a single loan for purposes of calculating the Appraisal Reduction Amount. Appraisal Reduction Amounts with
respect to the Mortgage Loan shall be allocated, first, to the B Notes on a pro rata and pari passu basis
(based on their relative outstanding principal balances), up to its respective outstanding principal balance, and then to
the A Notes on a pro rata and pari passu basis (based on their relative outstanding principal balances).

 

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

 

(a)            The Controlling Note
Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights and obligations
with respect to the Mortgage Loan (the “Controlling Note Holder Representative”). The Controlling Note Holder
shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling Note Holder
Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When exercising its various rights
under Section 5 and

 

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elsewhere in this Agreement, the Controlling
Note Holder may, at its option, in each case, act through the Controlling Note Holder Representative. The Controlling Note Holder
Representative may be any Person (other than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage Loan Borrower),
including, without limitation, the Controlling Note Holder, any officer or employee of the Controlling Note Holder, any affiliate
of the Controlling Note Holder or any other unrelated third party. No such Controlling Note Holder Representative shall owe any
fiduciary duty or other duty to any other Person (other than the Controlling Note Holder). All actions that are permitted to be
taken by the Controlling Note Holder under this Agreement may be taken by the Controlling Note Holder Representative acting on
behalf of the Controlling Note Holder. No Servicer, Trustee or Certificate Administrator acting on behalf of the Lead Securitization
Note Holder shall be required to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder
has notified each Servicer, Trustee and Certificate Administrator of such appointment and, if the Controlling Note Holder Representative
is not the same Person as the Controlling Note Holder, the Controlling Note Holder Representative provides each Servicer, Trustee
and Certificate Administrator with written confirmation of its acceptance of such appointment, an address and facsimile number
for the delivery of notices and other correspondence and a list of officers or employees of such Person with whom the parties to
this Agreement may deal (including their names, titles, work addresses and facsimile numbers). The Controlling Note Holder shall
promptly deliver such information to each Servicer, Trustee and Certificate Administrator. During a Controlling Class Control Period
or a Controlling Class Consultation Period (including any such deemed event), the Controlling Note Holder Representative shall
be the Lead Securitization Subordinate Class Representative.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 7.          Appointment
of Special Servicer. Subject to the terms of the Lead Securitization Servicing Agreement, the Controlling Note Holder (or its
Controlling Note Holder Representative) shall have the right at any time and from time to time, with or without cause, to replace
the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer in lieu thereof.
Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to serve as Special
Servicer shall be made by delivering to the other Note Holder, the Servicer, the then existing Special Servicer and other parties
to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying the other conditions to
such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation, a Rating Agency Confirmation,
if required by the terms of the Lead Securitization Servicing Agreement), if any. The Controlling Note Holder shall be solely responsible
for any expenses incurred in connection with any such replacement without cause. The Controlling Note Holder shall notify the other
parties hereto of its termination of the then currently serving Special Servicer and its appointment of a replacement Special Servicer
in accordance with this Section 7. If the Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage
Loan as of the consummation of the securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer
designated in the Lead Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit
the right of the Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer
for the Mortgage Loan as aforesaid.

 

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Section 8.          Payment
Procedure.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 11.       Representations
of the Note Holders. Each Note Holder represents and warrants that the execution, delivery and performance of this Agreement
is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene such Note Holder’s
charter or any law or contractual restriction binding upon such

 

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Note Holder, and that
this Agreement is the legal, valid and binding obligation of such Note Holder enforceable against such Note Holder in accordance
with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting the enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law), and except that the enforcement of rights with respect
to indemnification and contribution obligations may be limited by applicable law. Each Note Holder represents and warrants that
it is duly organized, validly existing, in good standing and in possession of all licenses and authorizations necessary to carry
on its business. Each Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered by such
Note Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or
with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement by
such Note Holder have been obtained or made and (c) to such Note Holder’s actual knowledge, there is no pending action, suit
or proceeding, arbitration or governmental investigation against such Note Holder, an adverse outcome of which would materially
and adversely affect its performance under this Agreement.

 

Section 12.
      No Creation of a Partnership or Exclusive Purchase Right. Nothing contained
in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the relationship created hereby between
the Note Holders as a partnership, association, joint venture or other entity. No Note Holder shall have any obligation
whatsoever to offer to any other Note Holder the opportunity to purchase a participation interest in any future loans
originated by such Note Holder or its Affiliates and if any Note Holder chooses to offer to any other Note Holder the
opportunity to purchase a participation interest in any future mortgage loans originated by such Note Holder or its
Affiliates, such offer shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and
absolute discretion. No Note Holder shall have any obligation whatsoever to purchase from any other Note Holder a
participation interest in any future loans originated by such Note Holder or its Affiliates.

 

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

 

Section 14.        Sale
of the Notes.

 

(a)            Each Note Holder
agrees that it will not sell, assign, transfer, pledge, syndicate, participate, hypothecate, contribute, encumber or otherwise
dispose (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar agreement, excluding
a repo financing or a Pledge in accordance with Section 14(d)) of a Note (a “Transfer”) except to a Qualified
Institutional Lender. Promptly after the Transfer, the non-transferring Note Holders shall be provided with (x) a representation
from a transferee or the

 

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

 

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

 

(b)           In the case of any Transfer
of a participation interest in any of the Notes, (i) the respective Note Holders’ obligations under this Agreement shall
remain unchanged, (ii) such Note Holders shall remain solely responsible for the performance of such obligations, and (iii) the
Lead Securitization Note Holder and any Persons acting on its behalf shall continue to deal solely and directly with such Note
Holder in connection with such Note Holder’s rights

 

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and obligations under
this Agreement and the Lead Securitization Servicing Agreement, and all amounts payable hereunder shall be determined as if such
Note Holder had not sold such participation interest.

 

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

 

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foreclosure), and its
successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and obligations under this Agreement,
and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging Note Holder
hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees
to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c) shall remain effective
as to any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such Note Holder (and any Servicer,
as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 15.       Registration
of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial note registrar and the Agent hereby accepts
such appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note
of which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in this Section
15, shall be registered in the Note Register. The Person in whose name a Note Holder is so registered shall be deemed and treated
as the sole owner and holder thereof for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide
such party with the names and addresses of the other Note Holders. To the extent the Trustee or another party is appointed as Agent

 

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hereunder, each Note
Holder hereby designates such Person as its agent under this Section 15 solely for purposes of maintaining the Note Register.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 18.       Modifications.
This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each Note Holder. Additionally,
for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend or modify this Agreement without
first receiving a Rating Agency Confirmation; provided that no such confirmation from the Rating Agencies shall be required
in connection with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may be defective
or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, (ii) to make other provisions
with respect to matters or questions arising under this Agreement, which shall not be inconsistent with the provisions of this
Agreement, (iii) entered into pursuant to Section 31 of this Agreement or (iv) if and to the extent that it would be deemed given
or not required pursuant to the definition of Rating Agency Confirmation in the Lead Securitization Servicing Agreement and/or
any Non-Lead Securitization Servicing Agreement, as applicable.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(c)           Each Non-Lead Securitization
Note Holder represents to the Lead Securitization Note Holder (for the benefit of the Mortgage Loan Borrower) that it is not a
Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrower is obligated under applicable
law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement. Contemporaneously
with the

 

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execution of this Agreement
and from time to time as necessary during the term of this Agreement, each Non-Lead Securitization Note Holder shall deliver to
the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Note Holder substantiating
that such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not obligated under applicable
law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement. Without limiting
the effect of the foregoing, (i) if a Non-Lead Securitization Note Holder is created or organized under the laws of the United
States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing
to the Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a Non-Lead Securitization Note Holder is
not created or organized under the laws of the United States, any state thereof or the District of Columbia, and if the payment
of interest or other amounts by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole
or part from sources within the United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing
to the Lead Securitization Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form
W-8BEN, or successor forms, as may be required from time to time, duly executed by such Note Holder, as evidence of such Note Holder’s
exemption from the withholding of United States tax with respect thereto. The Lead Securitization Note Holder shall not be obligated
to make any payment hereunder with respect to a Non-Lead Securitization Note or otherwise until the related Non-Lead Securitization
Note Holder shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

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

 

Section 26.        Cooperation
in Securitization.

 

(a)            Each Note Holder
acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection with
a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization Note Holder, each
Non-Lead Securitization Note Holder shall use reasonable efforts, at the Lead Securitization Note Holder’s expense, to satisfy,
and to cooperate with the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market
standards to which the Lead Securitization Note Holder customarily adheres or which may be reasonably required in the marketplace
or by the Rating Agencies in connection with the Securitization, including, entering into (or consenting to, as applicable) any
modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the Lead Securitization Note Holder in attempting
to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably
requested by the Rating Agencies to effect the Securitization; provided, however, that either in connection with
the Lead Securitization or otherwise at any time prior to the Lead Securitization, none of the Non-Lead Securitization Note Holders
shall be required to modify or amend this Agreement or

 

    	38

    	 

    

 

any Mortgage Loan Documents
(or consent to such modification, as applicable) in connection therewith, if such modification or amendment would (i) change the
interest allocable to, or the amount of any payments due to or priority of such payments to, a Non-Lead Securitization Note Holder
or (ii) materially increase a Non-Lead Securitization Note Holders’ obligations or materially decrease any Non-Lead Securitization
Note Holders’ rights, remedies or protections. In connection with the Lead Securitization, each Non-Lead Securitization Note
Holder agrees to provide for inclusion in any disclosure document relating to the Lead Securitization such information concerning
such Non-Lead Securitization Note Holder and the related Non-Lead Securitization Note as the Lead Securitization Note Holder reasonably
determines to be necessary or appropriate, and each Non-Lead Securitization Note Holder covenants and agrees that it shall, at
the Lead Securitization Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency and Lead Securitization
Note Holder in connection with the Lead Securitization (including, without limitation, reasonably cooperating with the Lead Securitization
Noteholder (without any obligation to make additional representations and warranties) to enable the Lead Securitization Noteholder
to make all necessary certifications and deliver all necessary opinions (including customary securities law opinions) in connection
with the Mortgage Loan and the Lead Securitization), as well as in connection with all other matters and the preparation of any
offering documents thereof and to review and respond reasonably promptly with respect to any information relating to a Non-Lead
Securitization Note Holder and the related Non-Lead Securitization Note in any Securitization document. Each Non-Lead Securitization
Note Holder acknowledges that the information provided by it to the Lead Securitization Note Holder may be incorporated into the
offering documents for the Lead Securitization. The Lead Securitization Note Holder and each Rating Agency shall be entitled to
rely on the information supplied by, or on behalf of, each Non-Lead Securitization Note Holder. The Lead Securitization Note Holder
will reasonably cooperate with each Non-Lead Securitization Note Holder by providing all information reasonably requested that
is in the Lead Securitization Note Holder’s possession in connection with each Non-Lead Securitization Note Holders’
preparation of disclosure materials in connection with a Securitization.

 

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

 

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

 

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

 

    	39

    	 

    

 

Section 29.        Certain
Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 30.        Termination
and Resignation of Agent.

 

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

 

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

 

    	40

    	 

    

 

Servicer under the Lead
Securitization Servicing Agreement, shall be deemed a termination or resignation of such Servicer as Agent under this Agreement.

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

    	41

    	 

    

 

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

 

	 	COLUMN FINANCIAL, INC., as Initial Note A-1 Holder
	 	
	 	 By:	/s/ N. Dante La Rocca
	 	 	Name: N. Dante La Rocca
	 	 	Title: Authorized Signatory

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

	 	 MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, as Initial
    Note A-2 Holder
	 	
	 	 By:	/s/ Jane Lam
	 	 	Name: Jane Lam
	 	 	Title: Vice President

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

	 	COLUMN FINANCIAL, INC., as Initial Note A-3 Holder
	 	
	 	 By:	/s/ N. Dante La Rocca
	 	 	Name: N. Dante La Rocca
	 	 	Title: Authorized Signatory

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

	 	 MORGAN STANLEY BANK, N.A., as Initial
    Note A-4 Holder
	 	
	 	 By:	/s/ Kristin Sansone
	 	 	Name: Kristin Sansone
	 	 	Title: Authorized Signatory

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

	 	COLUMN FINANCIAL, INC., as Initial Note B-1 Holder
	 	
	 	 By:	/s/ N. Dante La Rocca
	 	 	Name: N. Dante La Rocca
	 	 	Title: Authorized Signatory

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

	 	 MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, as Initial
    Note B-2 Holder
	 	
	 	 By:	/s/ Jane Lam
	 	 	Name: Jane Lam
	 	 	Title: Vice President

 

(Co-Lender
Agreement – Project Western (Pool A)

 

    	 

    	 

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE 

 

Description of
Mortgage Loan

 

	Mortgage Loan Borrowers:	Western A West CA, LLC
	 	Western A South CO, LLC
	 	Western Washington (DC) Corporate Center, LLC
	 	Western A Midwest IL, LLC
	 	Western A Midwest IN, LLC
	 	Western I-95 DC, LLC
	 	Western Baltimore – Brandon Woods I, LLC
	 	Western Hagerstown Distribution Center, LLC
	 	Western Upper Marlboro Distribution Center, LLC
	 	Western Hagerstown – Industrial Lane DC, LLC
	 	Western Crossroads DC, LLC
	 	Western BWI Commerce Center, LLC
	 	Western Hollins End Industrial Park, LLC
	 	Western BWI Commerce Center II, LLC
	 	Western Brandon Woods DC II, LLC
	 	Western Columbia Park IC, LLC
	 	Western Baltimore IC, LLC
	 	Western Landover DC, LLC
	 	Western Capital Beltway CC, LLC
	 	Western Franklin Square IC I, LLC
	 	Western Franklin Square IC II, LLC
	 	Western Somerset IC II, LLC
	 	Western Somerset Industrial Center, LLC
	 	Western Center Square DC, LLC
	 	Western Pureland DC I, LLC
	 	Western Pureland DC II, LLC
	 	Western Englewood DC, LLC
	 	Western Clifton DC, LLC
	 	Western Waterfront DC, LLC
	 	Western A Midwest TN, LLC
	 	Western A South TX, LLC
	 	Western A East VA, LLC
	 	Western A East VA II, LLC
	Date of Mortgage Loan:	November 4, 2015
	Date of Notes:	November 4, 2015
	Original Principal Amount of Mortgage Loan:	$966,500,000.00
	Principal Amount of Mortgage Loan as of the date hereof:	$966,500,000.00
	Initial Note A-1 Principal Balance:	$276,250,000.00
	Initial Note A-2 Principal Balance:	$148,750,000.00
	Initial Note A-3 Principal Balance:	$130,000,000.00
	Initial Note A-3 Principal Balance:	$70,000,000.00
	Initial Note B-1 Principal Balance:	$221,975,000.00
	Initial Note B-2 Principal Balance:	$119,525,000.00
	Location of Mortgaged Properties:	California, Maryland, Illinois, Texas, Indiana, Tennessee, New Jersey, Colorado, Virginia and the District of Columbia

 

    	A-1

    	 

    

 

	Initial Maturity Date:	April 2025

 

    	A-2

    	 

    

 

EXHIBIT B

 

1.    Initial Note
A-1 Holder:

 

(Prior to Securitization
of Note A-1):

 

    	B-1

    	 

    

 

Column Financial, Inc.

 

Notice Address:

Column Financial, Inc.

11 Madison Avenue, 4th Floor

New York, New York 10010

Attention: N. Dante La Rocca

Facsimile number: (646) 935-8520

 

with a copy to:

 

Column Financial, Inc.

1 Madison Avenue, 9th Floor

New York, New York 10010

Attention: Sarah Nelson

 

2.    Initial Note A-2 Holder:

 

(Prior to Securitization of Note A-2):

 

Morgan Stanley Mortgage Capital Holdings
LLC

 

Notice Address:

Morgan Stanley Mortgage Capital Holdings
LLC

1585 Broadway, 25th Floor

New York, New York 10036

Attention: Stephen Holmes

 

3.    Initial Note
A-3 Holder:

 

(Prior to Securitization of Note A-3):

 

Column Financial, Inc.

 

Notice Address:

Column Financial, Inc.

11 Madison Avenue, 4th Floor

New York, New York 10010

Attention: N. Dante La Rocca

Facsimile number: (646) 935-8520

 

with a copy to:

 

Column Financial, Inc.

1 Madison Avenue, 9th Floor

New York, New York 10010

Attention: Sarah Nelson

 

    	B-2

    	 

    

 

4.    Initial Note A-4 Holder:

 

(Prior to Securitization of Note A-4):

 

Morgan Stanley Bank, N.A.

 

Notice Address:

Morgan Stanley Bank, N.A.

1585 Broadway,
25th Floor

New York, New York 10036

Attention: Stephen Holmes

 

5.    Initial Note B-1 Holder:

 

(Prior to Securitization of Note B-1):

 

Column Financial, Inc.

 

Notice
Address:

Column Financial, Inc.

11 Madison Avenue, 4th Floor

New York,
New York 10010

Attention: N. Dante La Rocca

Facsimile number: (646) 935-8520

 

with a copy to:

 

Column Financial, Inc.

1 Madison Avenue, 9th Floor

New York, New
York 10010

Attention: Sarah Nelson

 

4.    Initial Note B-2 Holder:

 

(Prior to Securitization of Note B-2):

 

Morgan Stanley Mortgage Capital Holdings
LLC

 

Notice Address:

Morgan Stanley Mortgage Capital Holdings
LLC

1585 Broadway, 25th Floor

New York, New York 10036

Attention: Stephen Holmes

 

    	B-3

    	 

    

 

(Following Securitization of Note A-1):

 

(i)    Depositor:

 

Credit Suisse First
Boston Mortgage Securities Corp.

11 Madison Avenue,
4th Floor

New York, New York
10010

Attention: N. Dante
La Rocca

Facsimile number:
(646) 935-8520

E-mail: dante.larocca@credit-suisse.com

 

with a copy to:

 

1 Madison Avenue,
9th Floor

New York, New York
10010

Attention: Sarah Nelson

 

(ii)   Servicer:

 

KeyBank
National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Diane Haislip

Facsimile: 877-379-1625

Email: diane_c_haislip@keybank.com

 

with
copies to:

 

Polsinelli
PC

900 West 48th
Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Facsimile number: (816) 753-1536

 

(iii)  Special Servicer:

 

AEGON
USA Realty Advisors, LLC,

4333 Edgewood Road NE,

Cedar
Rapids, IA 52499

Attention: Executive
Vice President, Special Servicing

Fax number: (319) 355-8030

 

(iv) Trustee:

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

 

    	B-4

    	 

    

 

Columbia,
Maryland 21045 1951

Attention: Corporate Trust Services (CMBS)

CSMC
2015-GLPA

Fax
Number: (410) 715-2380

E
Mail: cts.cmbs.bond.admin@wellsfargo.com, and to

trustadministrationgroup@wellsfargo.com

 

(v)  Certificate Administrator:

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045 1951

Attention: Corporate Trust Services (CMBS)

CSMC
2015-GLPA

Fax
Number: (410) 715-2380

E
Mail: cts.cmbs.bond.admin@wellsfargo.com, and to

trustadministrationgroup@wellsfargo.com

 

    	B-5

    	 

    

 

EXHIBIT C

 

PERMITTED FUND MANAGERS

 

	1. 	Apollo Global Real Estate 
	2. 	Archon Capital, L.P. 
	3. 	AREA Property Partners 
	4. 	BlackRock, Inc. 
	5. 	The Blackstone Group International Ltd. 
	6. 	Clarion Partners 
	7. 	Colony Capital, Inc. 
	8. 	DLJ Real Estate Capital Partners 
	9. 	Eightfold Real Estate Capital, L.P. 
	10. 	Fortress Investment Group LLC 
	11. 	Garrison Investment Group 
	12. 	Goldman, Sachs & Co. 
	13. 	iStar Financial Inc. 
	14. 	J.E. Roberts Companies 
	15. 	Lend-Lease Real Estate Investments 
	16. 	LoanCore Capital 
	17. 	Lonestar Funds 
	18. 	Praedium Group 
	19. 	Raith Capital Partners, LLC 
	20. 	Rialto Capital Management, LLC 
	21. 	Rockpoint Group 
	22. 	Starwood Capital/Starwood Financial Trust 
	23. 	Torchlight Investors 
	24. 	Walton Street Capital, LLC 
	25. 	Westbrook Partners 
	26. 	WestRiver Capital 
	27. 	Whitehall Street Real Estate Fund, L.P. 

 

    	C-1

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