Document:

Exhibit 4.16

AGREEMENT BETWEEN NOTEHOLDERS

Dated as of December 16, 2021

by and among

KEYBANK NATIONAL ASSOCIATION

(Initial Note A-1 Holder),

KEYBANK NATIONAL ASSOCIATION

(Initial Note A-2 Holder),

KEYBANK NATIONAL ASSOCIATION

(Initial Note A-3 Holder)

 

and

 

KEYBANK NATIONAL ASSOCIATION

(Initial Note A-4 Holder)

 

IPCC National Storage Portfolio XV

 

      

     

    

THIS AGREEMENT BETWEEN NOTEHOLDERS
(“Agreement”), dated as of December 16, 2021 by and between KEYBANK NATIONAL ASSOCIATION (together with its successors
in interest, “KeyBank”), in its capacity as initial owner of Note A-1 (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”), KeyBank, in its capacity as initial owner of Note A-2 (together with its successors and
assigns in interest, in its capacity as initial owner of Note A-2, the “Initial Note A-2 Holder”), in its capacity
as initial owner of Note A-3 (together with its successors and assigns in interest, in its capacity as initial owner of Note A-3, the
“Initial Note A-3 Holder”) and KeyBank (together with its successors and assigns in interest, in its capacity as initial
owner of Note A-4 (in such capacity, the “Initial Note A-4 Holder” and, collectively with the Initial Note A-1 Holder,
the Initial Note A-2 Holder and the Initial A-3 Holder, the “Initial Note Holders”).

W I T N E S S E T H:

WHEREAS, KeyBank, in its
capacity as lender (the “Original Lender”), originated a certain loan (the “Mortgage Loan”) described
on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage loan borrowers described
on the Mortgage Loan Schedule (collectively, the “Mortgage Loan Borrower”), which, as of the date hereof, is evidenced,
inter alia, by that certain (i) Promissory Note A-1, dated December 16, 2021 and effective as of December 16, 2021, in the original principal
amount of $40,000,000.00 made by the Mortgage Loan Borrower to the Initial Note A-1 Holder (as the same may be amended, modified, supplemented
or replaced from time to time, “Note A-1”); (ii) Promissory Note A-2, dated December 16, 2021 and effective as of December
16, 2021, in the original principal amount of $30,000,000.00 made by the Mortgage Loan Borrower to the Initial Note A-2 Holder (as the
same may be amended, modified, supplemented or replaced from time to time, “Note A-2”); (iii) Promissory Note A-3,
dated December 16, 2021 and effective as of December 16, 2021, in the original principal amount of $10,000,000.00 made by the Mortgage
Loan Borrower to the Initial Note A-3 Holder (as the same may be amended, modified, supplemented or replaced from time to time, “Note
A-3”); and (iv) Promissory Note A-4, dated December 16, 2021 and effective as of December 16, 2021, in the original principal
amount of $6,000,000.00 made by the Mortgage Loan Borrower to the Initial Note A-4 Holder (as the same may be amended, modified, supplemented
or replaced from time to time, “Note A-4”), each secured by one or more first-priority deeds of trust and mortgages
between the Original Lender and the entities comprising the Mortgage Loan Borrower, all dated on or as-of December 16, 2021, as listed
on Exhibit B attached hereto (as the same may be amended, modified or supplemented from time to time, the “Mortgages”),
encumbering that certain real property located at the locations listed on Exhibit C, attached hereto (the “Mortgaged Property”).

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 the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder and Initial
Note A-4 Holder is holding Notes A-1, A-2, A-3 and A-4, in the Mortgage Loan.

      

     

    

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 to such terms, or terms
of substantially similar import, in the Lead Securitization Servicing Agreement. Whenever used in this Agreement, the following terms
shall have the respective meanings set forth below unless the context clearly requires otherwise.

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

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and after the Securitization
Date shall mean the Master 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
D hereto and, after the Securitization Date, shall be the offices of the Master 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 Note Holders.

“Agreement”
shall mean this Agreement between Note Holders, the exhibits and schedule 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.”

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

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

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

“Business Day”
shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in California, Maryland, New York, North Carolina,
Kansas, Pennsylvania, or the city and state in which the Corporate Trust Office of the Trustee or the Certificate Administrator, or the
principal place of business or principal commercial mortgage loan servicing office of the Master Servicer or the Special Servicer is located,
or the New York Stock Exchange or the Federal Reserve System of the United States of America are authorized or obligated by law or executive
order to remain closed.

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

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“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 Account”
shall mean the “Certificate Account” or other analogous term as defined in the Lead Securitization Servicing Agreement.

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

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

“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. “Controlled” and “Controls”
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 the Lead Securitization designated as the “controlling class” or such other class(es) or party otherwise
assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the
Lead Securitization Servicing Agreement; provided that if at any time 25% or more of the Controlling Note (or the class of securities
issued under the Controlling Note PSA 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 a Borrower Party or a Borrower Party Affiliate,
the Controlling Note Holder (or the class of securities issued under the Controlling Note PSA designated as the “controlling class”
or such other class(es) otherwise assigned the rights to exercise the rights of the Controlling Note Holder) shall not be entitled to
exercise any rights of the Controlling Note Holder.

“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.

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“Depositor”
shall mean the depositor for the Lead Securitization.

“Directing Certificateholder”
shall mean the “Controlling Class Certificateholder” or other analogous term as defined in the Lead Securitization Servicing
Agreement.

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

“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 Note
A-4 Securitization.

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

“Indemnified Items”
shall have the meaning assigned to such term in Section 2(c) of this Agreement.

“Indemnified Parties”
shall have the meaning assigned to such term in Section 2(c) of this Agreement.

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

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

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

“Initial 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

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

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

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

“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.

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

“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
Note” shall mean (a) during the period from and after the Securitization of any Note (other than Note A-1) but prior to the
Note A-1 Securitization Date, the Note(s) to be contributed to the First Securitization; 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; provided, that during any period that the Mortgage Loan is no longer subject to the provisions of
the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance
with the second paragraph of Section 2(a).

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

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

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

“Major Decisions”
shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement, provided, however, that if there is no Lead
Servicing Agreement, “Major Decisions” mean any of the actions set forth on Annex A, attached hereto.

“Master Servicer”
shall mean the Master Servicer of the Mortgage Loan appointed as provided in the Lead Securitization Servicing Agreement.

“Monthly Payment
Date” shall mean the 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 Loan”
shall have the meaning assigned to such term in the recitals.

“Mortgage Loan Agreement”
shall mean the Loan Agreement, dated as of December 16, 2021, by and between Mortgage Loan Borrower, as borrower, and KeyBank, as lender,
as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

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

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

“Mortgage Loan Documents”
shall mean, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and all other documents now or hereafter
evidencing, guarantying or 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 32.

“Non-Controlling
Note” means each of Note A-2, Note A-3, Note A-4 and/or any New Note(s) issued in respect thereof.

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“Non-Controlling
Note Holder” means each holder of a Non-Controlling Note; provided that with respect to each Non-Controlling Note, at
any time such Non-Controlling Note is included in a Securitization, references to the “Non-Controlling Note Holder” herein
shall mean the Non-Lead Securitization Subordinate Class Representative under the related Securitization Servicing Agreement or any other
party assigned the rights to exercise the rights of the “Non-Controlling Note Holder” hereunder, as and to the extent provided
in the related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the
Master Servicer and the Special Servicer) has been given written notice; provided that if at any time 25% or more of Note A-1 is
held by a Borrower Party or a Borrower Party Affiliate, the Note A-1 Holder shall not be entitled to exercise any rights of the Controlling
Note Holder and KeyBank shall be the Controlling Note Holder unless 25% or more of each of Note A-2, Note A-3 or Note A-4 is held by a
Borrower Party or a Borrower Party Affiliate. If 25% or more of each of Note A-1, Note A-2, Note A-3 and Note A-4 is held by a Borrower
Party or a Borrower Party Affiliate, no person shall be entitled to exercise the rights of the Controlling Note Holder. With respect to
any 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 exercising the rights of any particular “Non-Controlling Note Holder”
herein or under the Lead Securitization Servicing Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing
Agreement assigns such rights to more than one party, or (y) to the extent a Non-Controlling Note is split into two or more New Notes
pursuant to Section 32, for purposes of this Agreement, the Non-Lead Securitization Servicing Agreement or the holders of such
New Notes shall designate one party to deal with 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 the Non-Controlling Note Holder with respect to such Non-Controlling Note, as
the Non-Controlling Note Holder for such Non-Controlling Note for all purposes of this Agreement. As of the date hereof and until further
notice from a Non-Lead Securitization Note Holder (or the Non-Lead Master Servicer or another party acting on its behalf), the Initial
Note A-2 Holder is the Non-Controlling Note Holder with respect to Note A-2, the Initial Note A-3 Holder is the Non-Controlling Note Holder
with respect to Note A-3 and the Initial Note A-4 Holder is the Non-Controlling Note Holder with respect to Note A-4.

“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.

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“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(c).

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

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

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

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

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

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

“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(c).

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

“Non-Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder other than 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.

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

“Note A-1 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered 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-2”
shall have the meaning assigned to such term in the recitals.

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

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

“Note A-2 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered 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-3”
shall have the meaning assigned to such term in the recitals.

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

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

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

“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.

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

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

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

“Note A-4 PSA”
shall mean the pooling and servicing agreement or other comparable agreement entered 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 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 Principal
Balance” shall mean, (i) with respect to Note A-1, the Note A-1 Principal Balance, (ii) with respect to Note A-2, the Note A-2
Principal Balance, (iii) with respect to Note A-3, the Note A-3 Principal Balance and (iv) with respect to Note A-4, the Note A-4 Principal
Balance.

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

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

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

“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 Balances of all of the Notes.

“Permitted Fund
Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit E 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.

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“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.

“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, or any 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 the Lead 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

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Securitization Vehicle); (2) in the
case of a Securitization Vehicle that is not a CDO, either (x) the special servicer of such Securitization Vehicle has a Required Special
Servicer Rating or (y) Rating Agency Confirmations have been obtained from the Rating Agencies rating each Securitization (in the case
of either (x) or (y), 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 (c)(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), (iv)(B) or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory surplus
or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 in total
assets (in name or under management), and (y) is regularly engaged in the business of making or owning commercial real estate loans
(or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning or operating commercial real estate
properties; provided that, in the case of the entity described in clause (iv)(B) above, the requirements of this clause (y) may
be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such
entity; or

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

    12 

     

    

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 three 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).

“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 or the applicable depositor to rate the securities issued in connection with the Securitization
of the related Note; provided, however, 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 from
time to time to rate the securities issued in connection with the Securitizations of the Notes.

“Rating Agency Confirmation”
shall mean a confirmation in writing by each of the Rating Agencies 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 a Securitization that are then outstanding. If no such securities are
outstanding, any action that would otherwise require a Rating Agency Confirmation shall instead require the consent of the Note A-1 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 act upon 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 act upon any request
for a Rating Agency Confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise act upon 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 and are in effect from time to time, but only to the extent compliance is required as of the applicable date of determination,
and subject to such clarification and interpretation as have been provided by the Securities and Exchange Commission (the “Commission”)
or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.

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

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“Remittance Date”
shall mean the date that is the earliest of (A) four (4) Business Days prior to the related distribution date in each calendar month for
the Non-Lead Securitization or (B) the eleventh (11th) day of each calendar month (or, if the eleventh (11th) calendar day of that month
is not a Business Day, then the Business Day immediately succeeding such eleventh (11th) calendar day); provided, however, that
such Remittance Date shall not be earlier than four (4) Business Days following the date the Master Servicer receives the related Monthly
Payment with respect to the Mortgage Loan.

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of at least “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 DBRS, such special servicer is acting as special servicer for one or more loans
included in a commercial mortgage loan securitization that was rated by DBRS, and DBRS 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 (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.

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

“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 (rated by at least two Rating Agencies if such Securitization is the Lead 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.

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

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

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which any Note or portion thereof is held.

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

“Senior Trust Advisor”
shall mean the trust advisor, operating advisor or similar entity appointed as provided in the Lead Securitization Servicing Agreement.

“Serviced Whole
Loan Custodial Account” shall mean the subaccount of the “Certificate Account” or other analogous term as defined
in the Lead Securitization Servicing Agreement as more particularly described in the Lead Securitization Servicing Agreement.

“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 Advances”
shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing 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 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 of the Mortgage Loan 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 the Trustee appointed as provided in the Lead Securitization Servicing Agreement.

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

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Section 2.               Servicing
of the Mortgage Loan.

(a)              
Prior to any Securitization Date, the Note Holders agree to cause the Mortgage Loan to be interim serviced by KeyBank and KeyBank
shall perform custodial responsibilities.

(b)              
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from
and after the First Securitization pursuant to the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not
be obligated to advance monthly payments of principal or interest in respect of any Note other than Note A-1 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 Note A-1 PSA including any provisions governing the determination of non-recoverability. The Note A-1 PSA 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 any Securitization Trust, (ii) required by law or changes in any law, rule or
regulation or (iii) generally required by the Rating Agencies in connection with the issuance of ratings in securitizations similar to
the Securitizations. In addition, the Lead Securitization Servicing Agreement shall have such additional provisions as are set forth in
Schedule I hereto. Each Note Holder acknowledges that any other Note Holder may elect, in its sole discretion, to include its Note
or Notes, as applicable, 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 initial Special Servicer by the Controlling Note Holder
as may be replaced pursuant to the terms of the Lead Securitization Servicing Agreement and agrees to reasonably cooperate with the Master
Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing
Agreement. Each Note Holder hereby irrevocably appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization
as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing
of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of the Note Holder
set forth herein and in the Lead Securitization Servicing Agreement). In no event shall the Lead Securitization Servicing Agreement require
the Servicer to enforce the rights of any Note Holder against 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; provided that, if any payment is made from general funds on deposit in the Certificate Account
for the Lead Securitization Trust and the Lead Securitization Trust is entitled under the terms of this Agreement to reimbursement from
a Non-Lead Securitization Note Holder with respect to all or a portion of such Non-Lead Securitization’s “share” of
such payment, the Servicer may use efforts in accordance with the Servicing Standard to exercise promptly the rights of the Lead Securitization
Trust under this Agreement to obtain reimbursement from a Non-Lead

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Securitization Note Holder for such Non-Lead
Securitization Note Holders’ allocable share of the amount so paid. 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, following the Securitization Date pursuant to the Lead Securitization Servicing Agreement, is no longer subject to the provisions
of the Lead Securitization Servicing Agreement, the Note Holders agree to cause the Mortgage Loan to be serviced by one or more servicers,
each of which has been agreed upon by the Note Holders, pursuant to a servicing agreement that has servicing terms substantially similar
to the Lead Securitization Servicing Agreement and all references herein to the “Lead Securitization Servicing Agreement”
shall mean such subsequent servicing agreement; provided, however, that if 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 the Securitization for the Non-Lead Securitization Note; 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
were still in full force and effect with respect to the Mortgage Loan, by the Servicer in the Lead Securitization or by any Person appointed
by the Lead Securitization Note Holder that is a servicer meeting the requirements of a master servicer under the Lead Securitization
Servicing Agreement.

(c)              
The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent
provided in the Lead Securitization Servicing Agreement) (i) shall be required to make Servicing Advances with respect to the Mortgage
Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be required to make P&I
Advances on the Lead Securitization Note, if and to the extent provided in the Lead Securitization Servicing Agreement and this Agreement.
The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for a Servicing Advance,
first from funds on deposit in the Certificate Account and/or the Serviced Whole Loan Custodial Account for the Mortgage Loan that
(in any case) represent amounts received on or in respect of the Mortgage Loan, and then, in the case of Nonrecoverable Servicing
Advances, if such funds on deposit in the Certificate Account with respect to the Lead Securitization Note, together with funds on deposit
in the Serviced Whole 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 accrued and unpaid interest 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. Notwithstanding
the foregoing, to the extent the

    17 

     

    

Master Servicer, the Special Servicer or
the Trustee, as applicable, obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable
Servicing Advance or any accrued and unpaid interest on a Servicing Advance or a Nonrecoverable Servicing Advance, each Non-Lead Securitization
Note Holder (including any Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer, reimburse
the Lead Securitization for its pro rata share of such Nonrecoverable Servicing Advance or accrued and unpaid interest thereon.

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 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 Senior Trust Advisor
or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement (other than P&I
Advances and interest thereon), to the extent amounts on deposit in the “Serviced Whole Loan Custodial Account” are insufficient
for reimbursement of such amounts and to the extent that funds from general collections in the Lead Securitization are applied towards
the Lead Securitization Note Holder’s pro rata share of the insufficiency. Each Non-Lead Securitization Note Holder shall
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 Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Senior Trust Advisor (if and to the extent
it has responsibilities with respect to the Non-Lead Securitization Notes) and the Depositor (and any director, officer, employee or agent
of any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization Servicing Agreement
in respect of other mortgage loans) and (ii) the Lead Securitization Trust (such parties in clause (i) and the Lead Securitization
Trust, collectively, (the “Indemnified Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees
and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the servicing and administration
of the Mortgage Loan and the Mortgaged Property (or, with respect to the Senior 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 “Serviced Whole
Loan Custodial Account” that are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement of such
amounts, the Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer, the Special
Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency (including,
if 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 applicable master
servicer under any Non-Lead Securitization (the “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 servicing agreement for the related Securitization
(the “Non-Lead Securitization Servicing Agreement”), the Lead

    18 

     

    

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

(d)              
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 pro rata share of any Nonrecoverable Servicing Advances
(and accrued and unpaid interest thereon) and any additional Trust Fund expenses (but not any interest on P&I Advances), 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,

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

(ii)           
each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead
Securitization Servicing Agreement) by the Securitization Trust holding the Non-Lead Securitization Note, against any of the Indemnified
Items to the extent of its pro rata share of such Indemnified Items, from amounts on deposit in the “Serviced Whole Loan
Custodial Account”, and to the extent amounts on deposit in the “Serviced Whole Loan Custodial Account” are insufficient
for reimbursement of such amounts, the Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties
for the Non-Lead Securitization Note Holder’s pro rata share of the insufficiency out of general collections in the collection
account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement;

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

    20 

     

    

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

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

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

(f)   
Notwithstanding anything to the contrary, until such time as the Lead Securitization Note is placed into the Lead Securitization,
the Mortgage Loan shall be serviced, including reporting and remittance, pursuant to the Non-Lead Securitization Agreement. After such
time as the Lead Securitization Note is placed into the Lead Securitization all servicing shall be done pursuant to the Lead Securitization
Servicing Agreement.

(g)  
Any proceeds received from the sale of the primary servicing rights with respect to the Mortgage Loan shall be remitted, promptly
upon receipt thereof, to the Note Holders on a Pro Rata and Pari Passu Basis. Any proceeds received by any Note Holder from the sale of
the master servicing rights with respect to its respective Note shall be for its own account.

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

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

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

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Special Servicer as additional servicing compensation
as provided in the Lead Securitization Servicing Agreement.

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

Section 5.               
Administration of the Mortgage Loan.

(a)              
Subject to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement
and subject to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder
(or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole
and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan,
including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any
action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default,
accelerate the Mortgage Loan or institute any foreclosure action or other remedy, and 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 hereby presently and irrevocably assigns and
conveys to the Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead
Securitization Note Holder) the rights, if any, that such Note Holder has to, (i) call or cause the Lead Securitization Note Holder
to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage
Loan Borrower, including, without limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition against
the Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on
behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to 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

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Note Holder), upon the Mortgage Loan becoming
a Defaulted Mortgage Loan and the determination by the Special Servicer to sell the Lead Securitization Note in accordance with the Lead
Securitization Servicing Agreement, 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 Certificate Administrator or Special Servicer,
as applicable, in accordance with the terms of the Lead Securitization Servicing Agreement in writing. The Trustee (based upon updated
Appraisals ordered by the Special Servicer and received by the Trustee (or ordered by the Trustee if the Special Servicer or any of its
Affiliates is an Interested Person)) shall determine the fair price for the Specially Serviced Mortgage Loan (in the manner set forth
in the Lead Securitization Servicing Agreement) if the highest offeror is an Interested Person, and any such determination by the Trustee
shall be binding upon all parties; provided, however if the highest offeror is not an Interested Person the Special Servicer shall determine
the fair price for the Specially Serviced Mortgage Loan (in the manner set forth in the Lead Securitization Servicing Agreement) and any
such determination by the Special Servicer shall be binding upon all parties. 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
without the written consent of each Non-Controlling Note Holder (provided that such consent is not required if the related Non-Controlling
Note is held by a Borrower Party or a Borrower Party Affiliate) 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 ten (10)
days prior to the proposed sale date, a copy of each bid package (together with any material amendments to such bid packages) received
by the Special Servicer in connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy
of the most recent Appraisal for the Mortgage Loan, and any documents in the Servicing File reasonably requested by a Non-Controlling
Note Holder that are material to the price of the Mortgage Loan and (d) until the sale is completed and a reasonable period of time (but
no less time than is afforded to other offerors and the Lead Securitization Subordinate Class Representative) prior to the proposed sale
date, all information and other documents being provided to other offerors and all leases or other documents that are approved by the
Master Servicer or the Special Servicer in connection with the proposed sale; provided, however, that any Non-Controlling Note Holder
may waive any delivery or timing requirements set forth in this sentence only for itself. Subject to the foregoing, each of the Controlling
Note Holder, the Controlling Note Holder Representative, the Non-Controlling Note Holders and the Non-Controlling Note Holder Representatives
shall be permitted to bid at any sale of the Mortgage Loan unless such Person is a Borrower Party Affiliate or an agent or Borrower Party
Affiliate.

The Non-Lead Securitization
Note Holder hereby appoints the Lead Securitization Note Holder as their 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, such 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

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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 Note is repurchased
by the Initial Note A-1 Holder from the trust fund established under the Lead Securitization Servicing Agreement in connection with a
material breach of representation or warranty made by the Initial Note A-1 Holder with respect to the Lead Securitization Note or material
document defect with respect to the documents delivered by the Initial Note A-1 Holder with respect to 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 Initial Note A-1 Holder or any document delivery obligation imposed on the Initial
Note A-1 Holder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may be
executed or delivered by the Initial Note A-1 Holder in connection with the Lead Securitization.

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The
servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage
Loan (or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance 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 of the Note Holders
as a collective whole. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and
obligations of the Lead Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special Servicer,
the Certificate Administrator and/or the Trustee on behalf of the Lead Securitization Note Holder. The Lead Securitization Servicing Agreement
shall not be amended in any manner that may adversely affect any Non-Lead Securitization Note Holder in its capacity as a 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 a Borrower Party Affiliate) 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
Subordinate Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or the implementation
of any recommended

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actions outlined in an Asset Status Report
relating to the Mortgage Loan, to each 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 due to the occurrence and continuance of a Control Event or a Consultation Termination Event) and (ii) 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 Subordinate Class Representative, the Lead Securitization Note Holder (or
the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult with 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 make any Major Decision or take any action set forth in the Asset Status Report before the
expiration of the aforementioned ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer,
as applicable) determines that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In no
event shall the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time
to follow or take any alternative actions recommended by any Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

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

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or the Special Servicer, as applicable, shall
execute a confidentiality agreement in form and substance satisfactory to it, the Master Servicer or the Special Servicer, as applicable,
and the Lead Securitization Note Holder.

(d)              
If any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage Loan
shall be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage” within
the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on behalf
of the Note Holders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure of the Mortgage
or lien on such property following a default on the Mortgage Loan shall be administered so that the interest of the pro rata share
of each Note Holder therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8)
of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from
any action of the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Note Holders may have
under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the Mortgage Loan,
within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury, more than three (3)
months after the startup day of the REMIC which includes any of the Notes (or any portion thereof). Each Note Holder agrees that the provisions
of this paragraph shall be effected by the 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, if one of the Notes is included in a REMIC and the other is not,
such other Note Holder shall not be required to reimburse such Note Holder or any other Person for payment of (i) any taxes imposed on
such REMIC, (ii) any costs or expenses relating to the administration of such REMIC or to any determination respecting the amount, payment
or avoidance of any tax under such REMIC or (iii) any advances for any of the foregoing or any interest thereon or for deficits in other
items of disbursement or income resulting from the use of funds for payment of any such taxes, costs or expenses or advances, nor shall
any disbursement or payment otherwise distributable to the other Note Holder be reduced to offset or make-up any such payment or deficit.

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

(a)  
The Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its
rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”). The Controlling
Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling Note Holder
Representative in accordance with the terms of the Lead Securitization Servicing Agreement. When exercising its various rights under Section 5
and elsewhere in this Agreement, the Controlling Note Holder may, at its option, in each case, act through the Controlling Note Holder
Representative. The Controlling Note Holder Representative may be any Person (other than a Borrower Party Affiliate, its principal or
any

    27 

     

    

Borrower Party Affiliate), 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,
Senior Trust Advisor, Trustee or Certificate Administrator acting on behalf of the Lead Securitization Note Holder shall not be required
to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder has notified the Servicer, Senior
Trust Advisor, Trustee and Certificate Administrator of such appointment and, if the Controlling Note Holder Representative is not the
same Person as the Controlling Note Holder, the Controlling Note Holder Representative provides any Servicer, Senior Trust Advisor, Trustee
and Certificate Administrator 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, Senior Trust Advisor, Trustee and Certificate Administrator. So long as no Consultation Termination Event
(including any such deemed event) is in effect, pursuant to the terms of the Lead Securitization Servicing Agreement, the Controlling
Note Holder Representative shall be the Lead Securitization Subordinate Class Representative.

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

(c)              
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

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respect to the Mortgage Loan (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 any related Non-Controlling Note Holder Representative mutatis mutandis.

(d)              
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note Holder hereunder
and the rights and powers granted to the “Directing Certificateholder” 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 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 in connection with 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 in connection with 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 (OR, IN CONNECTION WITH AN ACCEPTABLE INSURANCE DEFAULT, THIRTY (30) 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, in connection
with an Acceptable Insurance Default, thirty (30) day period), such Major Decision shall be deemed to have been approved by the Controlling
Note Holder.

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

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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, advice or consultation contemplated by the preceding paragraphs of this Section 6(d) or elsewhere in this Agreement 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 or the REMIC provisions of the Code, be inconsistent with
the Master Servicer or Special Servicer’s obligation to act in accordance with the Servicing Standard or materially expand the scope
of responsibilities of any of the Master Servicer or the 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, and conditions and requirements set forth in, 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 Master Servicer, the then existing
Special Servicer and other parties to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying
the other conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation, a
Rating Agency Confirmation, if required by the terms of the Lead Securitization Servicing Agreement) and delivering to each Non-Lead Securitization
Note Holder a Rating Agency Confirmation with respect to any rated securities issued in a Non-Lead Securitization, in each case if applicable.
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

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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 a 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 (or at any time that the Mortgage Loan is no longer subject to the provisions of the
Lead Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage Loan is being serviced) solely
with respect to the Mortgage Loan pursuant to and in accordance with the terms of the Lead Securitization Servicing Agreement (or at any
time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing
agreement pursuant to which the Mortgage Loan is being serviced). The Controlling Note Holder and the Non-Controlling Note Holders acknowledge
and agree that any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated
for cause at 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. The Non-Controlling Note Holder that directs 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 shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs
and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of the Trustee, that would otherwise
be reimbursed to the Trustee from amounts on deposit in the Certificate Account under the Lead Securitization Servicing Agreement.

Section 8.               
Payment Procedure.

(a)              
The Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms
of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments allocable to the Notes into the Serviced
Whole Loan Custodial Account pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note
Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two Business Days after
receipt of properly identified funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf
of the Mortgage Loan Borrower. The Lead Securitization Servicing Agreement shall provide that all amounts on deposit in the Serviced Whole
Loan Custodial Account on a Remittance Date allocable under this Agreement to a Non-Lead Securitization Note Holder shall be deposited
or credited on the Remittance Date for such Non-Lead Securitization by wire transfer of immediately available funds to an account specified
by such Non-Lead Securitization Note Holder.

(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,

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then, notwithstanding any other provision
of this Agreement, the Lead Securitization Note Holder shall not be required to distribute any portion thereof to the Non-Lead Securitization
Note Holders and each Non-Lead Securitization Note Holder shall promptly on demand by the Lead Securitization Note Holder repay to the
Lead Securitization Note Holder any portion thereof that the Lead Securitization Note Holder shall have theretofore distributed to 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, Master Servicer, Special Servicer or such other Person with respect thereto.

(c)              
If, for any reason, the Lead Securitization Note Holder makes any payment to 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 Non-Lead Securitization Note Holder, such 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 or Notes, as applicable, except with respect to losses actually suffered due to the 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
and the express terms of this Agreement and the Lead Securitization Servicing Agreement.

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

Section 14.           
Sale of the Notes.

(a)              
Except with the consents contemplated by the second following sentence, 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 Notes,
as applicable, (a “Transfer”) except to a Qualified Institutional Lender. Promptly after the Transfer, each non-transferring
Note Holder shall be provided with (x) a representation from a transferee or the applicable Note Holder certifying that such transferee
is a Qualified Institutional Lender (except in the case of a Transfer 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 Notes, as applicable, in whole or in part, to an entity that is not a Qualified Institutional Lender, it must first obtain the
written consent of each non-transferring Note Holder or, if 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 written consent (which will not be unreasonably withheld), and,
if such non-transferring Note Holder’s Note is held in a Securitization Trust, without a Rating Agency Confirmation from each of
the applicable engaged Rating Agencies for such Securitization, no Note Holder shall Transfer all or any portion of its Note or Notes,
as applicable, (or a participation interest in such Note or Notes) 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.

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The transferring Note Holder agrees that
it shall pay the expenses of each non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer and
the Trustee) and all expenses relating to obtaining Rating Agency Confirmation in connection with any such Transfer. Notwithstanding the
foregoing, each Note Holder shall have the right, without receipt of Rating Agency Confirmation and without the need to obtain the consent
of the other Note Holders or any other Person, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note or Notes,
as applicable. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of all of the Notes together,
in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer,
in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property,
upon the Mortgage Loan becoming a Defaulted Mortgage Loan, to a single member limited liability or limited partnership, 100% of the equity
interest in which is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships,
by the Lead Securitization Trust.

(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 or Notes, as applicable,
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 (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 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 or Notes, as applicable, 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

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

(d)              
Notwithstanding any provisions herein to the contrary, if a conduit (“Conduit”) which is not a Qualified Institutional
Lender provides financing to a Note Holder then such Note Holder shall have the right to grant a security interest in its Note or Notes,
as applicable, 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 or Notes, as applicable, 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 or Notes, as applicable, to the Conduit as collateral for the Conduit Inventory
Loan;

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

In connection with any Transfer
of a Note (but excluding any Note 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

    37 

     

    

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

(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 obtaining a Rating Agency Confirmation from each Rating Agency then rating any securities of any Securitization
(subject to the provisions of each Securitization Servicing Agreement addressing non-responsive Rating Agencies); provided that
no such Rating Agency Confirmation 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 or (iii) if and to the extent the it would be deemed given or not required pursuant to the definition
of

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Rating Agency Confirmation in the Lead Securitization
Servicing Agreement and/or any Non-Lead Securitization Servicing Agreement, as applicable.

Section 19.           
Statement of Intent. The Agent and each Initial Note Holder 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, Operating Advisor, Master Servicer and Special Servicer and any Non-Lead Master Servicer, Non-Lead
Special Servicer or Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable by any Person
not a party hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights or obligations
under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the applicable Note Holder
hereunder.

Section 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 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 a Non-Lead Securitization Note Holder with respect to the
Mortgage Loan as a result of such Non-Lead Securitization Note Holder constituting a

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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 such 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 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 and upon written request, 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

    40 

     

    

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 a Non-Lead Securitization Note
or otherwise until the related Non-Lead Securitization Note Holder shall have furnished to the Lead Securitization Note Holder the above
required forms, certificates, statements or documents.

Section 26.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Securitization
Notes) (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 27.           
Cooperation in Securitization.

(a)              
Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note or Notes, as applicable,
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 or applicable law 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 Documents, in any such case, as may be required by
applicable law or reasonably requested by the Rating Agencies or prospective investors to effect such Securitization; provided, however,
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 or Notes, as applicable,
as the related Securitizing Note Holder reasonably determines to be necessary or appropriate, and such Non-Securitizing Note Holder shall,
at such 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 such Securitizing Note Holder
(without any obligation to make additional representations and warranties) to enable such Securitizing Note Holder to make all necessary
certifications and deliver all necessary opinions (including customary securities law

    41 

     

    

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 Note Holder and its Note or Notes, as applicable,
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.

(b)              
The holder of any Note that will, upon Securitization, be the Lead Securitization Note shall give each of the other Note Holders
and parties to any Non-Lead Securitization Servicing Agreement (that are not also parties to the proposed Lead Securitization Servicing
Agreement) notice of the Securitization of the Lead Securitization Note in writing (which may be by e-mail) not less than five (5) Business
Days prior to the applicable closing date for the Securitization of such Note. Such notice shall contain contact information for each
of the parties to the proposed Lead Securitization Servicing Agreement. In addition, notwithstanding anything to the contrary herein,
the holder of the Note that will, upon Securitization, be the Lead Securitization Note shall send each distributed draft of the proposed
Lead Securitization Servicing Agreement to each of the other Note Holders and parties to any Non-Lead Securitization Servicing Agreement
(that are not also parties to the proposed Lead Securitization Servicing Agreement) and shall send copies of the offering documents (prior
to printing or filing thereof) related to the Securitization of such Note to each of the other Note Holders and the Non-Lead Securitization
Note Holders shall have a reasonable opportunity to comment thereon.

Section 28.           
Notices. All notices required hereunder shall be given by (i) facsimile transmission (during business hours) if the
sender on the same day sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (ii) reputable
overnight delivery service (charges prepaid) or (iii) certified United States mail, postage prepaid return receipt requested, and
addressed to the respective parties at their addresses set forth on Exhibit D 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 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;

    42 

     

    

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

Section 32.           
Resizing. Notwithstanding any other provision of this Agreement, for so long as KeyBank or an Affiliate of KeyBank (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

    43 

     

    

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 the other Note. In connection with the foregoing (provided the conditions set
forth in (i) through (v) above are satisfied, with respect to (i) through (iv), as certified by the 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 the Non-Controlling Note Holder
hereunder, the Non-Controlling Note Holder of such New Notes shall be as provided in the definition of such term in this Agreement.”

[SIGNATURE PAGE FOLLOWS]

 

    44 

     

    

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

 

	 	KEYBANK NATIONAL ASSOCIATION, as
Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder, Initial Note A-4 Holder and Initial Agent
	 	By:	/s/ Kathy Messmer
	 	 	Name:  Kathy Messmer
	 	 	Title:    Vice President

(Signature Page - Co-Lender
Agreement)

 

    	 

    	 

    

ANNEX A

MAJOR DECISIONS

(a)               
any proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of the REO Property) of the ownership
of the Property or the exercise of any other remedies with respect to the Loan;

(b)              
any modification, consent to a modification or waiver of a monetary term or material non-monetary term (including, without limitation,
the timing of payments and acceptance of discounted payoffs but excluding late payment charges or default interest) of the Loan or any
extension of the maturity date of the Loan;

(c)               
any sale of the Loan if it is a "Defaulted Loan" or REO Property (other than in connection with the termination of the
Trust) for less than the applicable Repurchase Price;

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

(e)               
any requests for property releases or substitutions, other than (i) grants of easements or rights of way that do not materially
affect the use or value of the Property or the Borrower's ability to make any payments with respect to the Loan, (ii) release of non-material
parcels of the Property (including, without limitation, any such releases (A) to which the Loan Documents expressly require the Lenders
to make such releases upon the satisfaction of certain conditions (and the conditions to the release that are set forth in the Loan Documents
do not include the approval of the Lenders or the exercise of lender discretion (other than confirming the satisfaction of the other conditions
to the release set forth in the Loan Documents that do not include any other approval or exercise)) and such release is made as required
by the Loan Documents or (B) that are related to any condemnation action that is pending, or threatened in writing, and would affect a
non-material portion of the Property), or (iii) the release of collateral securing the Loan in connection with a defeasance of such collateral;

(f)                
any waiver of a "due-on-sale" or "due-on-encumbrance" clause with respect to the Loan or any consent to such
waiver or consent to a transfer of the Property or interests in the Borrower or consent to the incurrence of additional debt, other than
any such transfer or incurrence of debt as may be effected without the consent of the Lenders under the Loan Agreement;

(g)              
any property management company changes or franchise changes with respect to the Loan for which the Lender(s) are/is required to
consent or approve under the Loan Documents;

(h)              
releases of any amounts from escrow accounts, reserve accounts or letters of credit held as performance escrows (or reserves) or
earn-out escrows (or reserves) other than those required pursuant to the specific terms of the Loan and for which there is no lender
discretion;

    Annex A-1 

     

    

(i)                
 any acceptance of an assumption agreement or any other agreement permitting a transfer of interests in the Borrower or guarantor
or releasing the Borrower or guarantor from liability under the Loan other than pursuant to the specific terms of the Loan and for which
there is no lender discretion;

(j)                
any determination of an Acceptable Insurance Default;

(k)                any
exercise of a material remedy with respect to the Loan following a default or event of default under the Loan Documents;

(1)                any
modification, consent to a modification or waiver of any material term of the Co-Lender Agreement or similar agreement related to the
Loan, or any action to enforce rights with respect to the Loan; and

(m)              any
consent to incurrence of additional debt by the Borrower or mezzanine debt by a direct or indirect parent of the Borrower, to the extent
the mortgagee's approval is required under the Loan Documents.

Defined Terms:

"Acceptable Insurance
Default": A default on the Loan arising when the Loan Documents require that the Borrower maintain all-risk casualty insurance
or other insurance that covers damages or losses arising from acts of terrorism and the Special Servicer has determined, in its reasonable
judgment in accordance with Accepted Servicing Practices (or the Servicing Standard, if such term is used in the applicable pooling and
servicing agreement) and, if the Loan has been securitized, the applicable pooling and servicing agreement, that (i) such insurance is
not available at commercially reasonable rates and the subject hazards are not commonly insured against by prudent owners of similar real
properties located in or near the geographic region in which the Property is located (but only by reference to such insurance that has
been obtained by such owners at current market rates), or (ii) such insurance is not available at any rate; provided, however,
that the Lenders (if the Lenders remain in control by virtue of owning the Controlling Note) or Directing Certificateholder (if the Controlling
Note has been securitized) shall have no more than thirty (30) days to respond to the Special Servicer's request for such consent; provided,
further, that upon the Special Servicer's determination, consistent with the Accepted Servicing Practices (or the Servicing Standard,
if such term is used in the applicable pooling and servicing agreement), that exigent circumstances do not allow the Special Servicer
to consult with the Holder of the Controlling Note or the Directing Certificateholder the Special Servicer shall not be required to do
so. In making this determination, the Special Servicer, to the extent consistent with the Accepted Servicing Practices or the Servicing
Standard, as applicable may rely on the opinion of an insurance consultant.

"Defaulted Loan":
The Loan if it is either (A) is a Specially Serviced Loan within the meaning of the definition of "Specially Serviced Loan"
in the applicable pooling and servicing agreement, or (B) is a Specially Serviced Loan as to which the amounts due thereunder have been
accelerated following any other material default.

    Annex A-2 

     

    

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

"Property" means the property subject to
the Mortgage.

"REO Property"
means a mortgaged property acquired on behalf and in the name of the Trustee or a nominee thereof for the benefit of the Certificateholders
(or, prior to any Securitization, the Lenders) through foreclosure, acceptance of a deed-in-lieu of foreclosure or otherwise in accordance
with applicable law in connection with the default or imminent default of the Loan.

"Repurchase Price"
means the price payable for the repurchase of a Note or the Loan from a Securitization pursuant to the applicable pooling and servicing
agreement.

"Trust"
means the trust created and to be administrated pursuant to a pooling and servicing agreement.

Capitalized terms used
in this Annex but not defined herein or in the Agreement shall have the meanings ascribed to them in the applicable pooling and servicing
agreement.

    Annex A-3 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

	Mortgage Loan Borrower:	Self-Storage Portfolio XV DST, a Delaware Statutory Trust
	Date of Mortgage Loan:	December 16, 2021
	Date of Notes:	Dated December 16, 2021, effective as of December 16, 2021
	Original Principal Amount of Mortgage Loan:	$86,000,000.00
	Principal Amount of Mortgage Loan as of the date hereof:	$86,000,000.00
	Initial Note A-1 Principal Balance:	$40,000,000.00
	Initial Note A-2 Principal Balance:	$30,000,000.00
	Initial Note A-3 Principal Balance	$10,000,000.00
	Initial Note A-4 Principal Balance	$6,000,000.00
	Location of Mortgaged Property:	
    See Exhibit C attached hereto.

	Initial Maturity Date:	January 1, 2032

 

 

    Exhibit A-1 

     

    

EXHIBIT B

List of deeds of trust and mortgages securing
the Notes:

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

MORTGAGE, ASSIGNMENT OF LEASES AND RENTS, SECURITY
AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST;

    Exhibit B-1 

     

    

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST; and

DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS,
SECURITY AGREEMENT AND FIXTURE FILING made as of December 16, 2021, by Self-Storage Portfolio XV DST

 

 

 

    Exhibit B-2 

     

    

EXHIBIT C

	Property	Address
	East Southern Avenue	240 East Southern Avenue, Mesa, Arizona 85210
	South Pennington	1930 South Pennington, Mesa, Arizona 85202
	West Indian School Road	4010 West Indian School Road, Phoenix, Arizona 85019
	North Nova Road	1104 North Nova Road, Daytona Beach, Florida 32117
	
    49th Street South and

    8th Avenue South
	
    1909 49th Street South & 4924 Tangerine Avenue
    South and

    8th Avenue South, Gulfport, Florida 33707

	SW 14th Court	3111 SW 14th Court, Pompano Beach, Florida 33069
	SE Jennings Road	3737 SE Jennings Road,  Port Saint Lucie, Florida 34952
	30th Avenue North 	7470 30th Avenue North & 2801 75th Street North,  Saint Petersburg, Florida 33710
	Anderson Road	8119 Anderson Road, Tampa, Florida 33634
	Stoney Island Avenue	19600 Stoney Island Avenue,  Lynwood, Illinois 60411
	Duren Avenue	24 (a/k/a 20) Duren Avenue, Lowell, Massachusetts 01851
	Main Street	720 Main Street, Tewksbury, Massachusetts 01876
	Lemay Ferry Road	4533 Lemay Ferry Road, Saint Louis, Missouri 63129
	South Broadway	3900 (a/k/a 3948) South Broadway, Edmond, Oklahoma
	Warwick Boulevard	15900 Warwick Boulevard, Newport News, Virginia 23608
	Airport Road	5424 Airport Road, Williamsburg, Virginia 23188
	Boalch Avenue NW	1410 Boalch Avenue NW, North Bend, Washington 98045

 

    Exhibit C-1 

     

    

EXHIBIT D

1.       Initial
Note A-1, Initial Note A-2 Holder, Initial Note A-3 Holder and Initial Note A-4 Holder:

 

KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Facsimile No.: 877-379-1625

Attn: Loan Servicing

with a copy to:

Daniel Flanigan, Esq.

Polsinelli

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Facsimile No.: 816-753-1536

    Exhibit D-1 

     

    

EXHIBIT E

PERMITTED FUND MANAGERS

 

 

		1.	Apollo Global Real Estate

		2.	Archon Capital, L.P.

		3.	AREA Property Partners

		4.	BlackRock, Inc.

		5.	The Blackstone Group International Ltd.

		6.	Capital Trust, Inc.

		7.	Clarion Partners

		8.	Colony Capital, Inc.

		9.	DLJ Real Estate Capital Partners

		10.	Eightfold Real Estate Capital, L.P.

		11.	Fortress Investment Group LLC

		12.	Garrison Investment Group

		13.	Goldman, Sachs & Co.

		14.	iStar Financial Inc.

		15.	J.E. Roberts Companies

		16.	Lend-Lease Real Estate Investments

		17.	LoanCore Capital

		18.	Lonestar Funds

		19.	Praedium Group

		20.	Raith Capital Partners, LLC

		21.	Rialto Capital Advisors, LLC

		22.	Rialto Capital Management, LLC

		23.	Rockpoint Group

		24.	Starwood Capital/Starwood Financial Trust

		25.	Torchlight Investors

		26.	Walton Street Capital, LLC

		27.	Westbrook Partners

		28.	WestRiver Capital

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

 

    Exhibit E-1 

     

    

SCHEDULE I

 

 

The Lead Securitization
Servicing Agreement shall provide that:

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

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

(iii)           
the Master Servicer shall remit all payments received with respect to the Non-Lead Securitization Notes, net of the Servicing Fee
payable with respect to each such Non-Lead Securitization Note, and any other applicable fees and reimbursements payable to the Master
Servicer, the Special Servicer and the Trustee to the other holders on or prior to the Business Day immediately preceding the Master Servicer
Remittance Date;

(iv)           
with respect to each Non-Lead Securitization Note that is held by a Securitization, the Certificate Administrator agrees to make
available to each of the Non-Lead Securitization Note Holders or, if such Non-Lead Securitization Note is securitized, to each of the
Non-Lead Master Servicers (or, if so requested, the related certificate administrator) certain reports required to be delivered pursuant
to Section 4.02 of the Lead Securitization Servicing Agreement (which shall include all loan-level reports constituting the CREFC Investor
Reporting Package) to the extent related to the Mortgage Loan or the Non-Lead Securitization Note;

(v)           
the Master Servicer shall provide (in electronic media) to each Non-Lead Securitization Note Holder (i) copies of operating statements
and rent rolls; (ii) annual CREFC® NOI Adjustment Worksheets (with annual operating statements as exhibits); and (iii)
annual CREFC® Operating Statement Analysis Reports, in each case prepared, received or obtained by it pursuant to the Lead
Securitization Servicing Agreement with respect to the Mortgaged Propert(y)(ies) securing the Non-Lead Securitization Note;

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

    I-1 

     

    

Agreement and the Lead Securitization
Servicing Agreement and (iii) to the extent consistent with the foregoing, the Servicing Standard;

(vii)           
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 and act in the best interests and for the benefit
of the Note Holders together with the certificateholders of the Lead Securitization, as a collective whole as if such Note Holders and
certificateholders constituted a single lender;

(viii)           
the Non-Lead Securitization Note Holders shall be entitled to the same indemnity as the Lead Securitization Note Holder under the
Lead Securitization Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator
and the Senior Trust Advisor shall be required to indemnify each Certification Party, each Non-Lead Depositor and each Non-Lead Securitization
Note Holder and their respective employees, directors and officers for all claims, losses, damages, penalties, fines, forfeitures, legal
fees and expenses and related costs, judgments and any other costs, fees and expenses arising out of (i) the failure to deliver the items
in clause (ix) below, (ii) negligence, bad faith or willful misconduct on its part in the performance of such obligations, (iii)
any failure by a Servicer to identify a Servicing Function Participant under such Article X of the Lead Securitization Agreement by the
time required after giving effect to any applicable grace period and cure period and/or (iv) delivery of any Deficient Exchange Act Deliverable
regarding, and delivered by or on behalf of, such party;

(ix)           
with respect to any Non-Lead Securitization that is subject to following reporting requirements under the Securities Act of 1933,
as amended, the Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, (a) the Master Servicer, any primary
servicer, the Special Servicer, the Trustee and the certificate administrator or other party acting as custodian for the Lead Securitization
shall be required to deliver (and shall be required to cause each other servicer and servicing function participant (within the meaning
of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged by it to deliver; provided that such party shall only be required
to use commercially reasonable efforts to cause an Initial Sub-Servicer to deliver), in a timely manner (i) the reports, certifications,
compliance statements, accountants’ assessments and attestations, information to be included in reports (including, without limitation,
Form ABS-15G, Form 10-K, Form 10-D and Form 8-K), and (ii) upon request, any other materials specified in each of the Non-Lead Securitization
Servicing Agreements, in the case of clauses (i) and (ii), as the Non-Lead Depositor or the Non-Lead Trustee to the applicable
Securitization reasonably believes, in good faith, are required in order for the Non-Lead Depositor or the Non-Lead Trustee to comply
with their obligations under the Securities Act of 1933, the Securities Exchange Act of 1934 (including Rule 15Ga-1, as amended) and Regulation
AB, and (b) without limiting the generality of the foregoing (x) the Trustee or Certificate Administrator, as applicable, shall, upon
request, provide or cause to be provided with notice in a timely manner to each Non-Lead Depositor and Non-Lead Trustee for any Non-Lead
Securitization a copy of the Lead Securitization Servicing Agreement and (y)

    I-2 

     

    

the Master Servicer and Special Servicer
shall, upon reasonable prior written request, and subject to the right of the Master Servicer or the Special Servicer, as the case may
be, to review and approve such disclosure materials, permit a holder of a related Non-Lead Securitization Note to use such party’s
description contained in the Lead Securitization prospectus (updated as appropriate by the Master Servicer or Special Servicer, as applicable,
at the cost of the Non-Lead Depositor) for inclusion in the disclosure materials relating to any securitization of a Non-Lead Securitization
Note and (z) the Master Servicer and Special Servicer, shall provide indemnification agreements, opinions and Regulation AB compliance
letters as were or are being delivered with respect to the Lead Securitization (in each case, at the cost of the Non-Lead Depositor).
The Master Servicer and the Special Servicer shall each be required to provide certification and indemnification to any Certifying Person
with respect to any applicable Sarbanes-Oxley Certification (or analogous terms);

(x)           
the Non-Lead Depositor shall be entitled to indemnification from and against any claims, losses, damages, penalties, fines, forfeitures,
legal fees and expenses and related costs, judgments and other costs and expenses arising out of (i) an actual breach by the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as the case may be, of its obligations under Article X of the Lead
Securitization Servicing Agreement, (ii) negligence, bad faith or willful misconduct on the part of the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, in the performance of its obligations under the Lead Securitization Servicing
Agreement, or (iii) delivery of any Deficient Exchange Act Deliverable regarding, and delivered by or on behalf of, the Non-Lead Depositor,
and will be entitled to reimbursement for any reasonable out-of-pocket legal or other expenses incurred in connection with investigating
or defending any such action or claim, as such expenses are incurred;

(xi)           
the Non-Lead Securitization Note Holders are intended third-party beneficiaries in respect of the rights afforded them under the
Lead Securitization Servicing Agreement and the Non-Lead Master Servicers will be entitled to enforce the rights of the Non-Lead Securitization
Note Holders under this Agreement and the Lead Securitization Servicing Agreement;

(xii)           
each Non-Lead Master Servicer and each Non-Lead Special Servicer shall be a third-party beneficiary of the Lead Securitization
Servicing Agreement with respect to all provisions therein expressly relating to Article 11 of the Lead Securitization Servicing Agreement;

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

    I-3 

     

    

(xiv)           
 if any action relating to the servicing and administration of the Mortgage Loan requires delivery of a Rating Agency Confirmation
as a condition precedent to such action, then, except as set forth in the Lead Securitization Servicing Agreement, such action shall also
require delivery of a Rating Agency Confirmation from any Rating Agency that was engaged by a participant in the applicable Non-Lead Securitization
to assign a rating to the related commercial mortgage pass-through certificates issued in connection with such Non-Lead Securitization;

(xv)           
Servicer Termination Events (or analogous term) with respect to the Master Servicer and the Special Servicer shall include (i)
the failure to timely remit payments to the Non-Lead Securitization Note Holders, which failure continues unremedied for one Business
Day following the date on which such payment was to be made; and (ii) the failure to provide to the Non-Lead Securitization Note Holders
(if and to the extent required under the applicable Non-Lead Securitization) reports required under the Securities Exchange Act of 1934,
as amended, and the rules and regulations thereunder, in a timely fashion. Upon the occurrence of such a Servicer Termination Event affecting
a Non-Lead Securitization Note Holder, the Trustee shall, upon the direction of the related Non-Lead Securitization Note Holder, require
the appointment of a subservicer with respect to the related Non-Lead Securitization Note;

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

(xvii)           
it shall have provisions materially consistent with those set forth in the Note A-2 PSA, Note A-3 PSA and Note A-4 PSA with respect
to:

(A) servicing transfer
events that would result in the transfer of the Mortgage Loan to special servicing status;

(B) 
the authority of the servicers in the Note A-2, Note A-3 and Note A-4 Securitization 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;

(C) 
requirements to obtain and appraisal or appraisal update following a transfer of the Mortgage Loan to special servicing status
and periodic updates thereof;

(D) duties of the special
servicer in respect of foreclosure and the management of REO property; and

(E) 
subject to various adjustments and caps provided for in the Note A-1 PSA (which shall be substantially similar to those set forth
in the Note A-2 PSA, the Note A-3 PSA and Note A-4 PSA), primary servicing, special servicing,

    I-4 

     

    

workout and liquidation fees (and, in any
event, the fees at which such compensation accure or are determined shall not exceed 0.0025% per annum, 0.25% per annum,
1.00% and 1.00%, respectively;

provided, however,
that (1) this clause (xvii) 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 certificate holder or investor
voting or consent thresholds, or to prohibit or restrict additional approval, consent, consultation, notice or rating agency confirmation
requirements; and (2) in the event of any conflict between this sentence and any other provision of this Agreement, such other provision
of this Agreement shall control; and

(xviii)           
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement
provided, that in no event shall any Servicer take any action or omit to take any action in accordance with the terms of this Agreement
that would cause such Servicer to violate the Servicing Standard of the REMIC provisions.

 

    I-5Exhibit 4.17

 

 

 

AGREEMENT BETWEEN NOTEHOLDERS

Dated as of February 1, 2022 by and among

BANK OF MONTREAL

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

and

BANK OF MONTREAL

(Initial Note B Holder)

111 River Street

 

    	 	 	 

    	 	 

    

THIS AGREEMENT BETWEEN
NOTEHOLDERS, dated as of February 1, 2022, by and between BANK OF MONTREAL, a Canadian chartered bank (together with its successors in
interest and assigns, “BMO”) (in its capacity as initial owner of Note A-1, Note A-2 and Note A-3, the “Initial
Note A Holder”, and in its capacity as the initial agent, the “Initial Agent”) and BMO (in its capacity
as initial owner of Note B, the “Initial Note B Holder”, and, together with the Initial Note A Holder, the “Initial
Noteholders”).

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein), on January 21, 2022, BMO, as lender (the “Original Lender”) originated
a certain loan in the aggregate principal amount of $153,750,000 (the “Mortgage Loan”) to the mortgage loan borrowers
described on the Mortgage Loan Schedule (as defined herein) (collectively, the “Borrower”), which Mortgage Loan was
at origination evidenced, inter alia, by a single promissory note made by the Borrower in favor of the Initial Noteholders;

WHEREAS, BMO and the Borrower
have agreed, pursuant to that certain Note Splitter Agreement, dated as of January 24, 2022, between such parties, to split the Original
Note into four (4) promissory notes (collectively, the “Replacement Notes”) and the Borrower has executed and delivered:
(i) to BMO three (3) promissory notes designated as Note A-1, in the original principal amount of $37,500,000, Note A-2, in the original
principal amount of $28,000,000, and Note A-3, in the original principal amount of $12,000,000; and (ii) to BMO one (1) promissory note
designated as Note B, in the original principal amount of $76,250,000;

WHEREAS, as of the date hereof,
the Mortgage Loan is evidenced by the Replacement Notes set forth in the following table (with the “Note Designations” being
as defined herein) and has the characteristics set forth on the Mortgage Loan Schedule;

 

	
    Note
    Designation
	

    Principal Balance as of

    January 24, 2022

	Note A-1	$37,500,000
	Note A-2	$28,000,000
	Note A-3	$12,000,000
	Note B	$76,250,000

WHEREAS, on the date of
this Agreement, BMO intends (but is not required) to transfer Note A-1, Note A-2, Note A-3 and Note B to BMO Commercial Mortgage Securities
LLC or other depositors for inclusion in one or more Securitizations;

WHEREAS, the parties hereto
desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns shall hold one or more
of their respective 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,” the “preamble” or the “recitals” are, unless
otherwise specified, to a Section, the preamble or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall
have the meaning ascribed thereto or to any analogous term in the Servicing Agreement. Whenever used in this Agreement, including, without
limitation, in the preamble and the recitals, the following terms shall have the respective meanings set forth below unless the context
clearly requires otherwise.

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

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

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

“Additional Servicing
Expenses” shall mean (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable to any Servicer,
Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the Mortgage Loan, and (b) all
interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the Servicing Agreement or (y) any Non-Lead
Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization Servicing Agreement.

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

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

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

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

“Agent Office”
shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement is located at Bank
of Montreal, c/o BMO Capital Markets Corp., 151 West 42nd Street, New York, New York 10036, Attention: Mike Birajiclian, Email: Michael.Birajiclian@bmo.com;
with a copy to Bank of Montreal, c/o BMO Capital

    	 	2	 

    	 	 

    

Markets Corp., 151 West 42nd Street, New York,
New York 10036, Attention: Legal Department, Email: BMOCMUSLegal@bmo.com, and which is the address to which notices to and correspondence
with the Agent should be directed. The Agent may change the address of its designated office by notice to the Noteholders.

“Agreement”
shall mean this Agreement Between Noteholders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

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

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

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

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

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

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

“B Note”
shall mean Note B.

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

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

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

“Borrower Related
Party” shall have the meaning assigned to such term in Section 15.

“Borrower Restricted
Party” means, individually or collectively, as the context may require, (i) the Borrower, any sponsor of the Borrower, any borrower
under a related mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager
of the Property, or any of their respective managers, servicers, agents or affiliates, (ii) a Restricted Holder, (iii) any Person controlling
or controlled by or under common control with the Borrower, any sponsor of the Borrower, any borrower under a related mezzanine loan,
any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager of the Property, or a Restricted
Holder, as applicable, or (iv) any shareholder,

    	 	3	 

    	 	 

    

partner, member or non-member manager, or any
direct or indirect legal or beneficial owner of any interest in the Borrower, any sponsor of the Borrower, any borrower under a related
mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager of the Property,
or a Restricted Holder (other than any shareholder, partner, member or owner owning less than a 10% non-controlling direct or indirect
legal or beneficial interest in any of the foregoing). For the purposes of this definition, “control” when used with respect
to any specific Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings
correlative to the foregoing.

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

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

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

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

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

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

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

“Conduit”
shall have the meaning assigned to such term in Section 16(f).

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 16(f).

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 16(f).

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an entity,
whether through the ability to exercise voting power, by contract or otherwise

    	 	4	 

    	 	 

    

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

“Controlling Noteholder”
shall mean as of any date of determination (i) the Note B Holder, unless a Note B Control Appraisal Period has occurred and is continuing,
and (ii) if and for so long as a Note B Control Appraisal Period has occurred and is continuing, the Note A-1 Holder; provided
that at any time the Note A-1 Holder is the Controlling Noteholder and Note A-1 is included in the Note A-1 Securitization, references
to the “Controlling Noteholder” herein shall mean the Controlling Class Representative or any other party assigned the rights
to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement;
and provided further that, if the Note B Holder would be the Controlling Noteholder pursuant to the terms hereof, but any interest
in Note B is held by the Borrower or a Borrower Restricted Party, or the Borrower or Borrower Restricted Party would otherwise be entitled
to exercise the rights of the Controlling Noteholder in respect of Note B, then a Note B Control Appraisal Period shall be deemed to have
occurred. The Note B Holder is the Controlling Holder as of the Closing Date.

“Controlling Noteholder
Representative” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 5(a).

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

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

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

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

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

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

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

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

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

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

    	 	5	 

    	 	 

    

“Indemnified Items”
shall mean, collectively, any claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the
Property under the Servicing Agreement.

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

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

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

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

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

“Interest Rate”
shall, with respect to any Note, have the meaning assigned to such term in the Mortgage Loan Agreement.

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

    	 	6	 

    	 	 

    

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

“KBRA”
shall mean Kroll Bond Rating Agency, LLC, or its successor in interest.

“Lead Securitization”
shall mean the sale by the holder of a Lead Securitization Note of all of such Note (or the first securitization of any portion of a Lead
Securitization Note, if applicable) to the Depositor, who will in turn include such portion of such Note as part of a securitization of
one or more mortgage loans.

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

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

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

“Lead Securitization
Servicing Agreement” shall mean a trust and servicing agreement, subject to Section 2 hereof, to be entered into
in connection with the Lead Securitization, by and among (a) the Person who serves as Trustee from and after the Lead Securitization
Date, (b) the Person who serves as Servicer from and after the Lead Securitization Date, (c) the Person which serves as Special
Servicer from and after the Lead Securitization Date, (d) the Person who serves as Certificate Administrator from and after the Lead Securitization
Date and (e) the Depositor, and any other additional Persons that may be party to such pooling and servicing agreement; provided
it is acknowledged that such agreement is subject in all respects to changes (i) required by the Code relating to the tax elections
of the related Securitization Trust (ii) required by law or changes in any law, rule or regulation and (iii) requested by the Rating
Agencies or any purchaser of subordinate certificates.

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

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

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

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

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

    	 	7	 

    	 	 

    

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

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

(iv)          any
sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or the Property (when it is held as Foreclosed Property) for less than
the outstanding principal balance of the Mortgage Loan, all accrued and unpaid interest (other than Accrued Interest) at the respective
Interest Rates for the Notes and all Additional Servicing Expenses;

(v)           any
determination to bring the Property into compliance with applicable environmental laws or to otherwise address any Hazardous Materials
(as defined in the Servicing Agreement) located at the Property or an REO Mortgage Loan;

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

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

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

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

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

    	 	8	 

    	 	 

    

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

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

(xiii)         any
determination of an Acceptable Insurance Default;

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

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

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

“Monthly Payment”
shall have the meaning assigned to the term “Monthly Debt Service Payment Amount” in the Mortgage Loan Agreement.

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

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

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

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

“Mortgage Loan Agreement”
shall mean the Loan Agreement, dated as of January 21, 2022, between the Borrower, as borrower, and the Original Lender, as lender, as
the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

    	 	9	 

    	 	 

    

“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 mean the schedule attached as Exhibit A to this Agreement.

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

“New Note(s)”
shall have the meaning assigned to such term in Section 35.

“Non-Controlling
Note” shall mean each Note other than the Note that entitles its holder to be the Controlling Noteholder.

“Non-Controlling
Noteholder” shall mean each Noteholder other than the Controlling Noteholder; provided that, if at any time a Non-Controlling
Note is held by (or, at any time a Non-Controlling Note is included in a Non-Lead Securitization, the related Non-Lead Securitization
Subordinate Class Representative is) a Borrower Restricted Party, no Person shall be entitled to exercise the rights of such Non-Controlling
Noteholder with respect to such Non-Controlling Note.

“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 Master Servicer on behalf of the Noteholders to make such payments
free of any obligation or liability for withholding.

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

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

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

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

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

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

    	 	10	 

    	 	 

    

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

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

“Non-Lead Securitization
Note” shall mean a Senior Note that is neither the Lead Securitization Note nor otherwise part of the Lead Securitization.

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

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

    	 	11	 

    	 	 

    

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

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

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

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

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

“Non-Lead Servicer”
shall mean, in respect of any Non-Lead Securitization Note, the related Non-Lead Master Servicer or related Non-Lead Special Servicer,
as applicable.

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

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

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

“Note”
shall mean any of the A Notes or the B Note.

“Note A Holder(s)”
shall mean the Noteholder(s) of A Notes.

“Note A-1”
shall mean that certain Promissory Note (Note A-1), dated January 24, 2022, as the same may be amended, modified, supplemented, extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note A-2”
shall mean that certain Promissory Note (Note A-2), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

    	 	12	 

    	 	 

    

“Note A-3”
shall mean that certain Promissory Note (Note A-3), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note B”
shall mean that certain Promissory Note (Note B), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note B Control
Appraisal Period” shall mean any period with respect to the Mortgage Loan, if and for so long as:

(a)       (1)
the initial Note B Principal Balance minus (2) the sum (without duplication) of (x) any payments of principal (whether as principal prepayments
or otherwise) allocated to, and received on, Note B after the date of creation of Note B, (y) any Appraisal Reduction Amount for the Mortgage
Loan that is allocated to Note B and (z) any losses realized with respect to the Mortgaged Property or the Mortgage Loan that are allocated
to Note B, is less than

(b)       25%
of the remainder of (i) the initial Note B Principal Balance less (ii) any payments of principal (whether as principal prepayments or
otherwise) allocated to, and received by, the Note B Holder on Note B after the date of creation of Note B.

“Note B Holder”
shall mean the Noteholder of the B Note.

“Note B Principal
Balance” shall mean, at any time of determination, the initial Note B Principal Balance set forth on the Mortgage Loan Schedule,
less any payments of principal thereon or reductions in such amount pursuant to Sections 3 or 4, as applicable.

“Note Pledgee”
shall have the meaning assigned to such term in Section 16(e).

“Note Register”
shall have the meaning assigned to such term in Section 18.

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

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

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

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

“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

    	 	13	 

    	 	 

    

commercial real estate, (ii) investing through
a fund or funds with committed capital of at least $500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency,
reorganization or relief of debtors.

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

“Pledge”
shall have the meaning assigned to such term in Section 16(e).

“Prepayment Fees”
shall have the meaning assigned to such term in the Mortgage Loan Documents.

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

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

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

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

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

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

(b)  
one or more of the following:

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

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

    	 	14	 

    	 	 

    

(1), (2), (3) or (7) of Regulation D under
the Securities Act of 1933, as amended, or

(iii)           a
Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns or pledges its
Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization of,
(b) the creation of collateralized debt obligations (“CDO”) secured by, or (c) a financing through an “owner
trust” of, a Note (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes
of securities issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies which
assigned a rating to any classes of securities issued in connection with the closing of such securitization; (2) in the case of a Securitization
Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise
acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved Servicer”) and such Approved
Servicer is required to service and administer such Note in accordance with servicing arrangements for the assets held by the Securitization
Vehicle which require that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction
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), (iii), (iv)or (v) of this definition,
or

(iv)          an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments of at
least $500,000,000, in which (A) the applicable Noteholder, (B) a Person that is otherwise a Qualified Institutional Lender under clauses
(i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i)
or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible
for the day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests in such
investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional Lenders (without
regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

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

(vi)          in
the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii), (b)(iv)(B) or (b)(v) of this definition, (x) such entity has
at least $200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm, asset
manager or similar fiduciary) and at least $500,000,000 in total assets (in name or under management), and (y) is regularly engaged in
the business of making or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans
with respect thereto) or owning junior

    	 	15	 

    	 	 

    

CMBS securities 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

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

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

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

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

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

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

“Redirection Notice”
shall have the meaning assigned to such term in Section 16(e).

    	 	16	 

    	 	 

    

“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.

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

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

“REO Mortgage Loan”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the 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 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 (v) in the case
of DBRS Morningstar, either a commercial mortgage servicer or special servicer (a) that has a current ranking from DBRS Morningstar of
at least MORS3, or (b) if not rated by DBRS Morningstar, that is currently acting as servicer or special servicer, as applicable, for
a commercial mortgage-backed securities transaction rated by DBRS Morningstar and as to which DBRS Morningstar has not cited servicing
concerns with respect to such servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or
placement on “watch status” in contemplation of a ratings downgrade or withdrawal, which placement on “watch status”
has not been withdrawn within 60 days without any ratings downgrade or withdrawal) of securities in such commercial mortgage-backed securities
transaction serviced by the applicable servicer prior to the time of determination.

“Restricted Holder”
shall mean any holder of a related mezzanine loan (or any affiliate, manager or agent thereof) or an owner of any interest in any related
mezzanine loan (whether legally, beneficially or otherwise, including as a holder of a note evidencing a related mezzanine loan, a holder
of a participation interest in a related mezzanine loan or a beneficial owner of any interest in a related mezzanine loan or any securities
collateralized by a related mezzanine loan) (a) as to which an event of default has occurred under such mezzanine loan giving

    	 	17	 

    	 	 

    

rise to an automatic acceleration of such mezzanine
loan or the right of the lender thereunder to accelerate such mezzanine loan or (b) as to which foreclosure proceedings against the related
collateral have been initiated.

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

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

“Risk Retention
Rules” shall mean the joint final rule that was promulgated to implement the Risk Retention Requirements (which such joint final
rule has been codified, inter alia, at 12 C.F.R. Part 43), as such rule may be amended from time to time, and subject to such clarification
and interpretation as have been provided by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Commission and the Department of Housing and
Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.) or by the staff of any such agency, or as may be provided by any
such agency or its staff from time to time, in each case, as effective from time to time as of the applicable compliance date specified
therein.

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

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

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

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

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which an A Note or the B Note is held.

“Senior Notes”
shall mean the A Notes, individually or collectively, as the context may require.

“Senior Noteholder(s)”
shall mean the Note A Holders, individually or collectively, as the context may require.

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

    	 	18	 

    	 	 

    

reduction of the Principal Balance of the B
Note, until the Principal Balance of the B Note is reduced to zero.

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

“Servicing Agreement”
shall mean, with respect to the Mortgage Loan, the Lead Securitization Servicing Agreement, together with any amendment, restatement,
supplement, replacement or modification thereto entered into in accordance with the terms hereof or thereof, or any Substitute Servicing
Agreement.

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

“Servicing Transfer
Event” shall have the meaning assigned to such term (or any term similar thereto including “Specially Serviced Loan”)
in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

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

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

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

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

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

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other disposition
(either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar agreement, excluding
a repurchase financing or a Pledge in accordance with Section 16(e)).

    	 	19	 

    	 	 

    

“Triggering Event
of Default” shall mean (i) any Event of Default with respect to an obligation of the Borrower to pay money due under the Mortgage
Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which,
for clarification, shall not include any imminent Event of Default).

“Trust Fund Expenses”
shall have the meaning assigned to such term or any analogous term in the Servicing Agreement.

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

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

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

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

Section 2.                  
Servicing.

(a)              
Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced pursuant to this
Agreement and the Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of
principal or interest in respect of the Notes other than for any Note in the Lead Securitization (and a Non-Lead Master Servicer may
be required to advance monthly payments of principal and interest on a Non-Lead Securitization Note included in a Non-Lead Securitization
pursuant to the terms of the Non-Lead Securitization Servicing Agreement) if such principal or interest is not paid by the Borrower but
shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Property
and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Servicing Agreement (including a determination
of recoverability thereunder). Each Noteholder acknowledges that each Initial Noteholder (if it is not already the trustee for a Securitization
Trust) may elect, in its sole discretion, to include the related Note in a Securitization and agrees that it will reasonably cooperate
with such other Noteholder, at such other Noteholder’s expense, to effect such Securitization. Subject to the terms and conditions
of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer, the Certificate
Administrator, any Operating Advisor, any Asset Representations Reviewer and the Trustee under the Servicing

    	 	20	 

    	 	 

    

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

(b)              
No Noteholder shall be entitled to exercise any rights of the “directing holder”, “consenting or consulting party”,
“controlling or consulting class,” “controlling class representative” or any analogous class or holder of Certificates
(as defined in the Lead Securitization Servicing Agreement) under the Servicing Agreement except, in the case of the Controlling Noteholder,
to the extent such holder is given such rights expressly under the terms of this Agreement or the Servicing Agreement in its capacity
as the Controlling Noteholder, and in no event may any such “directing holder”, “consenting or consulting party”,
controlling, consenting or consulting class or analogous class or holder of certificates backed solely by A Notes or the B Note under
the Servicing Agreement have any of the rights of the Controlling Noteholder hereunder.

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

    	 	21	 

    	 	 

    

Non-Lead Securitization as provided below.
The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for Advance Interest Amounts
on a Property Protection Advance, 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 Property Protection Advances that are Nonrecoverable Advances,
from general collections of each Non-Lead Securitization as provided below. Notwithstanding the foregoing, to the extent the Master Servicer,
the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization unrelated to the
Mortgage Loan or the Property as a reimbursement for a Property Protection Advance that is a Nonrecoverable Advance or any Advance Interest
Amounts on such a Nonrecoverable Advance, the Non-Lead Securitization Noteholder (including from general collections or any other amounts
from the Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization
for its pro rata share of such Nonrecoverable Advance or Advance Interest Amounts. If the Master Servicer determines that a proposed
principal and interest Advance with respect to the Lead Securitization Note or Property Protection Advance with respect to the Mortgage
Loan, if made, or any outstanding principal and interest Advance or Property Protection Advance previously made, would be, or is, as applicable,
a Nonrecoverable Advance (as defined in the Lead Securitization Servicing Agreement), the Master Servicer shall provide the Non-Lead Master
Servicer written notice of such determination promptly after such determination was made together with such reports that the Master Servicer
delivered to the Special Servicer or Trustee in connection with notification of its determination of nonrecoverability.

In addition, a Non-Lead Securitization
Noteholder whose Non-Lead Securitization Note has been included in a Non-Lead Securitization Trust shall be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for the Non-Lead Securitization Noteholder’s
pro rata share of any Trust Fund Expenses with respect to the Mortgage Loan or the Property, any other fees, costs or expenses
incurred in connection with the servicing and administration of the Mortgage Loan and allocable to the Non-Lead Securitization Noteholders
pursuant to this Agreement and as to which the Master 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 fees, costs or
expenses related to obtaining a Rating Agency Confirmation and allocated to the Non-Lead Securitization Noteholders, in each case to the
extent amounts on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient
for reimbursement of such amounts (which such reimbursement shall be made from general collections or any other amounts from such Non-Lead
Securitization Trust). If a Non-Lead Securitization Note has been included in a Non-Lead Securitization, the related Non-Lead Securitization
Noteholder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the Indemnified
Parties) against any Indemnified Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts
on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement
of such amounts, the Non-Lead Securitization Noteholder shall be required to, promptly following notice from the Master Servicer, the
Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency
from general collections or any other amounts from such Non-Lead Securitization Trust.

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The Non-Lead Master Servicer
may be required to make principal and interest Advances on a Non-Lead Securitization Note included in a Non-Lead Securitization, from
time to time, subject to the terms of the related Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement
and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability
determination with respect to a principal and interest Advance to be made on the Lead Securitization Note based on the information that
they have on hand and in accordance with the Lead Securitization Servicing Agreement. The Non-Lead Master Servicer and the Non-Lead Special
Servicer and the Non-Lead Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a principal
and interest Advance to be made on a Non-Lead Securitization Note based on the information that they have on hand and in accordance with
the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the Non-Lead Master Servicer
or the Non-Lead Trustee shall be required to notify each other servicer and trustee with respect to a Securitization of the amount of
its principal and interest Advance within two (2) Business Days of making such Advance. If the Master Servicer, the Special Servicer or
the Trustee, as applicable (with respect to a Note in the Lead Securitization) or the Non-Lead Master Servicer, the Non-Lead Special Servicer
or the Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines that a proposed principal and interest
Advance, if made, would be non-recoverable or an outstanding principal and interest Advance is or would be non-recoverable, or if the
Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Advance
would be non-recoverable or an outstanding Property Protection Advance is or would be non-recoverable, then the Master Servicer or the
Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Master
Servicer, the Special Servicer or the Trustee) or the Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization
Servicing Agreement, in the case of a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer
or the Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as
the case may be, within two (2) Business Days of making such determination. Each of the Master Servicer, the Trustee, the Non-Lead Master
Servicer and the Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a principal and interest Advance first, from
the Collection Account or the Companion Distribution Account from Default Interest and late payment charges collected on the Mortgage
Loan, as and to the extent contemplated by the Servicing Agreement, and from amounts allocable to the Note for which such principal and
interest Advance was made, and then, if funds are insufficient, (i) in the case of a Note in the Lead Securitization, 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 Non-Lead Securitization Trust, as and to the extent provided in the Non-Lead Securitization
Servicing Agreement. Advance Interest Amounts on a principal and interest Advance shall be reimbursed from Default Interest and late payment
charges collected on the Mortgage Loan, as and to the extent contemplated by the Servicing Agreement, from amounts paid by the Borrower
to cover such Advance Interest Amounts and otherwise first, from amounts allocable to more subordinate Notes and then, from amounts allocable
to the subject Note, as provided under Section 3(c).

    	 	23	 

    	 	 

    

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

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

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

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

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

    	 	24	 

    	 	 

    

(iii)            the Master Servicer shall remit all payments received with respect to any Non-Lead Securitization Note, net of the servicing fees
payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees
and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the related Non-Lead Securitization Noteholder
by the earlier of (x) the Remittance Date (as defined in the Lead Securitization Servicing Agreement) and (y) the Business Day following
the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing
Agreement (such determination date, the “Non-Lead Securitization Determination Date”), in each case, as long as the
date on which remittance is required under this clause (iii) is at least one (1) Business Day after the scheduled monthly payment date
under the Mortgage Loan Agreement;

(iv)            in
connection with the expedited remittances contemplated by the preceding clause (iii) and the expedited reporting contemplated
by the following clause (v), (A) the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect
to the Mortgage Loan or the Property (including the delivery of information contemplated by CREFC® reports that the Special Servicer
is required to deliver to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer to
the Non-Lead Securitization Noteholder may include all information contemplated to be included therein for the applicable reporting period,
and (y) expedite withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage Loan or
the Property so that the Master Servicer’s remittances to the Non-Lead Securitization Noteholder contemplated by the preceding
clause (iii) may include all amounts for the applicable collection period; and (B) each party responsible under the Lead Securitization
Servicing Agreement for delivering any Additional Form 10-D Disclosure (or analogous information) to a Non-Lead Trustee or Non-Lead Depositor
in respect of a Non-Lead Securitization Note shall deliver such Additional Form 10-D Disclosure (or analogous information) no later than
the 5th calendar day following the distribution date for the related Non-Lead Securitization;

(v)              with
respect to any Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to be delivered
or to make available to the related Non-Lead Master Servicer all reports required to be delivered by the Master Servicer to the Certificate
Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level reports constituting
the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing Agreement, to
the extent related to the Mortgage Loan, the Property, such Non-Lead Securitization Note, the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, by the earlier of (x) the Remittance Date and (y) the Business Day following the related
Non-Lead Securitization Determination Date, in each case, as long as the date on which delivery is required under this clause (v) is
at least one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

    	 	25	 

    	 	 

    

(vi)            the Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to each Non-Lead Securitization
Noteholder all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information regarding
the Mortgage Loan provided by it to the Lead Securitization Controlling Class Representative or the Operating Advisor in connection with
any request for consent made to, or consultation with, such party at the time provided to such other party;

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

(viii)         each
Non-Lead Securitization Noteholder shall be entitled to the same indemnity as the Lead Securitization Noteholder under the Lead Securitization
Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor,
the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by it to) indemnify
each Certifying Person and the depositor of any public Other Securitization Trust, and their respective directors and officers and controlling
persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization) and each Certifying
Person for (A) its failure to deliver the items in clause (ix) below in a timely manner, (B) its failure to perform its obligations to
such depositor or the related Non-Lead Trustee under Article XI (or any article substantially similar thereto) of the Lead Securitization
Servicing Agreement by the time required after giving effect to any applicable grace period or cure period, (C) the failure of any Servicing
Function Participant or Additional Servicer retained by it (other than a Loan Seller Sub-Servicer) to perform its obligations to such
depositor or trustee under such Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement
by the time required and/or (D) any Deficient Exchange Act Deliverable regarding, and delivered by or on behalf of, such party;

(ix)             with
respect to any Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange Act (including
Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the Trustee, the Certificate Administrator
or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other
servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver (provided that such party shall only be required to use commercially reasonable efforts to cause a Loan Seller Sub-Servicer
to deliver)), in a timely manner (i) the reports, certifications, compliance statements, accountants’ assessments and attestations,
and information to be included in reports (including, without limitation, Form ABS-15G, Form 10-K, Form 10-D and Form 8-K), and (ii)
upon request, any other materials specified in the related Non-Lead Securitization Servicing Agreement, in the case of clauses (i) and
(ii), as the related Non-

    	 	26	 

    	 	 

    

Lead Depositor or the related Non-Lead
Trustee reasonably believes, in good faith, are required in order for the related Non-Lead Depositor or the related Non-Lead Trustee to
comply with (1) its obligations under the Securities Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and (2)
any applicable comment letter from the Commission or its obligations with respect to any Deficient Exchange Act Deliverable, (b) without
limiting the generality of the foregoing (x) the Depositor or the related Holder shall provide or cause to be provided to the related
Non-Lead Depositor (and to counsel to the related Non-Lead Depositor) and the related Non-Lead Trustee (1) written notice (which may be
by email) in a timely manner (but no later than three (3) Business Days prior to closing) of the occurrence of the Lead Securitization,
and (2) no later than the closing date of the Lead Securitization, a copy of the Lead Securitization Servicing Agreement in an EDGAR-compatible
format, and (y) the Master Servicer and Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable) shall,
upon reasonable prior written request, and subject to the right of the Master Servicer or the Special Servicer, as the case may be, to
review and approve such disclosure materials, permit a holder of any Non-Lead Securitization Note to use such party’s description
contained in the Lead Securitization prospectus (updated as appropriate by the Master Servicer or Special Servicer, as applicable, at
the cost of such holder of such Non-Lead Securitization Note) or contained in a Lead Securitization Form 8-K, for inclusion in the disclosure
materials or a Form 8-K relating to any securitization of the related Non-Lead Securitization Note, and (z) the Master Servicer and the
Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable), shall provide indemnification agreements, opinions
and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization (in each case, at the cost
of such holder of such Non-Lead Securitization Note), and (c) in connection with any amendment of the Lead Securitization Servicing Agreement,
the Depositor shall provide written notice (which may be by email) of such proposed amendment to any Non-Lead Depositor and the related
Non-Lead Trustee no later than three (3) Business Days prior to the date of effectiveness of such amendment, and, on the date of effectiveness
of such amendment to the Lead Securitization Servicing Agreement, provide a copy of such amendment in an EDGAR-compatible format to such
Non-Lead Depositor and the related Non-Lead Trustee. The Master Servicer and the Special Servicer shall each be required to provide certification
and indemnification to any Certifying Person with respect to any applicable Sarbanes-Oxley Certification with respect to a Non-Lead Securitization;

(x)            
each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate
(and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing
Agreement), with each Non-Lead Depositor (including, without limitation, providing all due diligence information, reports, written responses,
negotiations and coordination) to the same extent as such party is required to cooperate with the Lead Depositor under Article XI (or
any article substantially similar thereto) of the Lead Securitization Servicing Agreement and in connection with any Deficient Exchange
Act Deliverable. All respective reasonable out-of-pocket costs and expenses incurred by any Non-Lead Depositor (including reasonable legal
fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses

    	 	27	 

    	 	 

    

related to participation by such Non-Lead
Depositor in any telephone conferences and meetings with the Commission and other costs such Non-Lead Depositor must bear pursuant to
Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement) and any amendments to any reports
filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice
from such Non-Lead Depositor;

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

(xii)           each
Non-Lead Securitization Noteholder is an intended third-party beneficiary in respect of the rights afforded it under the Lead Securitization
Servicing Agreement and the related Non-Lead Master Servicer shall be entitled to enforce the rights of such Non-Lead Securitization
Noteholder under this Agreement and the Lead Securitization Servicing Agreement;

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

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

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

(xvi)         to
the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, Rating Agency Confirmation shall be provided with
respect to the commercial mortgage pass-through certificates issued in connection with any Non-Lead Securitization to the same extent
provided with respect to the commercial mortgage pass-through certificates issued in connection with the Lead Securitization;

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(xvii)        Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include: (A) solely with respect
to the Master Servicer, the failure to timely remit payments to any Non-Lead Securitization Noteholder, which failure continues unremedied
for one (1) Business Day following the date on which such payment was to be made; (B) solely with respect to the Special Servicer, the
failure to deposit into any Foreclosed Property Account any amount required to be so deposited within two (2) Business Days after the
date such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection Account or the related
Companion Distribution Account any amount required to be so remitted by the Special Servicer within one (1) Business Day after the date
such remittance was to be made; (C) the qualification, downgrade or withdrawal, or placing on “watch status” in contemplation
of a rating downgrade or withdrawal of the ratings of any class of certificates issued in connection with any Non-Lead Securitization
by the rating agencies rating such securities (and such qualification, downgrade, withdrawal or “watch status” placement
shall not have been withdrawn by such rating agencies within sixty (60) days of actual knowledge of such event by the Master Servicer
or the Special Servicer, as the case may be), and publicly citing servicing concerns with the Master Servicer or Special Servicer, as
applicable, as the sole or a material factor in such rating action; and (D) the failure to provide to any Non-Lead Securitization Noteholder
(if and to the extent required under the related Non-Lead Securitization) reports required under the Exchange Act, and the rules and
regulations thereunder, in a timely fashion. Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer
affecting a Non-Lead Securitization Noteholder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization
Servicing Agreement, the Trustee shall, upon the direction of such Non-Lead Securitization Noteholder, require the appointment of a subservicer
with respect to the related Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special
Servicer affecting a Non-Lead Securitization Noteholder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization
Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Noteholder, terminate the Special Servicer with
respect to, but only with respect to, the Mortgage Loan;

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

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

(xx)            the
rates at which Special Servicing Fees, Liquidation Fees and Workout Fees accrue or are determined shall, respectively, be subject to
any minimum compensation provided for in the Lead Securitization Servicing Agreement; and

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

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

(i)              
 Each Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Nonrecoverable Advances (and advance
interest thereon) and any Trust Fund Expenses, but only to the extent that they relate to servicing and administration of the Notes and
the Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes,
and that in the event that the funds received with respect to each respective Note are insufficient to cover such Property Protection
Advances or Trust Fund Expenses, (A) the related Non-Lead Master Servicer will be required to, promptly following notice from the Master
Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee
or the Lead Securitization Trust, 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 Noteholder’s pro rata share of any such
Nonrecoverable Advances (together with advance interest thereon) and/or other Trust Fund Expenses (including compensation due to the Master
Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Property), and
(B) if the Lead Securitization Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or
the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, may do so, and the related Non-Lead Master Servicer will be required to,
promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead Securitization Trust out of
general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement
for such Non-Lead Securitization Noteholder’s pro rata share of any such

    	 	30	 

    	 	 

    

Nonrecoverable Advances (together with
advance interest thereon) and/or Trust Fund Expenses (including compensation due to the Master Servicer and the Special Servicer to the
extent related to the servicing and administration of the Mortgage Loan and the Property);

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

(iii)             each
Non-Lead Master Servicer, Non-Lead Trustee or Non-Lead Certificate Administrator will be required to deliver to the Trustee, the Certificate
Administrator, the Special Servicer, the Master Servicer, any Operating Advisor and any Asset Representations Reviewer (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 may be (x) in the form of delivery (which may be by email) of a copy of the related Non-Lead Securitization Servicing
Agreement, or (y) by email notification together with contact information for the related Non-Lead Trustee, the related Non-Lead Certificate
Administrator, the related Non-Lead Master Servicer, the related Non-Lead Special Servicer and the party designated to exercise the rights
of the related “Non-Controlling Noteholder” under this Agreement), accompanied by a copy of such executed Non-Lead Securitization
Servicing Agreement, and (ii) notice of any subsequent change in the identity of the related Non-Lead Master Servicer, the related Non-Lead
Trustee or the party designated to exercise the rights of the related “Non-Controlling Noteholder” under this Agreement (together
with the relevant contact information) (which may be in the form of email delivery of a copy of any revised Non-Lead Securitization Servicing
Agreement); and

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

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

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

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

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

Section 3.                  
Subordination of Note B; Payments.

(a)                 
The B Note and the rights of the Note B Holder to receive payments of interest, principal and other amounts with respect to the
B Note, shall at all times be junior, subject and subordinate to the A Notes and the rights of the Note A Holders to receive payments
of interest, principal and other amounts with respect to the A Notes as and to the extent set forth herein.

(b)                 
All amounts tendered by the Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage
Loan or the Property or amounts realized

    	 	32	 

    	 	 

    

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 and Condemnation Proceeds (other than proceeds, awards or settlements that are required
to be applied to the restoration or repair of the Property or released to the Borrower in accordance with the terms of the Mortgage Loan
Documents, to the extent permitted 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 Master Servicer
or the Trustee under the Servicing Agreement, and (y) all amounts that are then due, payable or reimbursable to any Servicer, Trustee,
Certificate Administrator, Operating Advisor or Asset Representations Reviewer (excluding master servicing fees, trustee fees, certificate
administrator fees, operating advisor fees, asset representations reviewer fees, and principal and interest Advances, all of which shall
be payable to such party by the respective Noteholders in respect of which such fees accrued or such Advances were made, in each case
out of distributions made in respect of each such Note, respectively (or, as and to the extent provided in the Servicing Agreement, out
of Default Interest and late payment charges collected on the Mortgage Loan), and excluding interest on principal and interest Advances
which are reimbursable pursuant to Section 3(c) below), with respect to the Mortgage Loan pursuant to the Servicing Agreement,
shall be distributed by the Master Servicer in the following order of priority without duplication (and payments shall be made at such
times as are set forth in the Servicing Agreement):

(i)              
first, to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note A Holder, an amount equal to the accrued and unpaid interest on the Principal Balance for the related A Note at the applicable
Net Interest Rate;

(ii)            
second, to the Note B Holder, up to an amount equal to the accrued and unpaid interest on the Principal Balance for the B Note
at the applicable Net Interest Rate;

(iii)             third,
to the Note A Holders, on a Pro Rata and Pari Passu Basis based on the respective Principal Balances of the A Notes, (i) at any time
that no Triggering Event of Default has occurred and is continuing, in an aggregate amount equal to the principal payments received,
if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until the Principal Balance for each A Note has
been reduced to zero, and (ii) at any time that a Triggering Event of Default has occurred and is continuing, all remaining funds, if
any, until the Principal Balance for each A Note has been reduced to zero;

(iv)            fourth,
to the Note B Holder, (i) at any time that no Triggering Event of Default has occurred and is continuing, in an aggregate amount equal
to the remaining principal payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until
the Principal Balance for the B Note has been reduced to zero, and (ii) at any time that a Triggering Event of Default has occurred and
is continuing, all remaining funds, if any, until the Principal Balance for the B Note has been reduced to zero;

    	 	33	 

    	 	 

    

(v)              fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i)-(iv) and, as a result of a Workout the Principal Balances for the A Notes
have been reduced, such excess amount shall be paid to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their respective
entitlements, up to, in the case of each Note A Holder, an amount equal to the reduction, if any, of the Principal Balance for the related
A Note as a result of such Workout, plus interest on such amount at the related Net Interest Rate;

(vi)            sixth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required to be applied
in accordance with the foregoing clauses (i)-(v) and, as a result of a Workout the Principal Balance for the B Note have been reduced,
such excess amount shall be paid to the Note B Holder, up to an amount equal to the reduction, if any, of the Principal Balance for the
B Note as a result of such Workout, plus interest on such amount at the related Net Interest Rate;

(vii)           seventh,
to the Note A Holders on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of each Note A Holder,
an amount equal to all Prepayment Fees allocated to the related A Note in accordance with the Mortgage Loan Agreement;

(viii)         eighth,
to the Note B Holder, up to an amount equal to all Prepayment Fees allocated to the B Note in accordance with the Mortgage Loan Agreement;

(ix)             ninth,
to the extent assumption or transfer fees actually paid by the 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 Borrower, shall be paid to the Note A Holders, pro rata, based on their respective
Percentage Interests, and the Note B Holder, pro rata, based on its Percentage Interest; and

(x)             
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 (i)-(ix), any remaining amount shall be paid to the Note A Holders and the Note B Holder, pro rata in
accordance with their respective initial Percentage Interests in the Mortgage Loan.

(c)              
All payments of principal on the Notes shall be made in Sequential Order. All expenses and losses relating to the Mortgage Loan
and the Property (including without limitation losses of principal and interest, Property Protection Advances, Advance Interest Amounts,
Special Servicing Fees, Liquidation Fees and Workout Fees), Appraisal Reduction Amounts and certain other trust expenses, shall be allocated
to the Notes in Reverse Sequential Order. Notwithstanding anything to the contrary herein, if an Advance of principal or interest is made
with respect to any Note, then Advance Interest Amounts thereon shall only be reimbursed from Default Interest and late payment charges
collected on the Mortgage Loan, as and to the

    	 	34	 

    	 	 

    

extent provided in the Servicing Agreement,
from amounts paid by the Borrower to cover such Advance Interest Amounts and otherwise (i) in the case of the A Notes, first, out
of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the Note B Holder, and second, out
of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the holder of such Note as to which
the Advance of principal or interest was made, and (ii) in the case of the B Note, out of any amounts received with respect to the Mortgage
Loan that would otherwise be distributable to the holder of such Note.

Section 4.                  
Administration of the Mortgage Loan.

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

Upon the Mortgage Loan becoming
a Defaulted Mortgage Loan, each Non-Lead Noteholder hereby acknowledges the right and obligation of the Lead Securitization Noteholder
(or the Special Servicer acting on behalf of the Lead Securitization Noteholder) to sell each Non-Lead Note together with the Lead Securitization
Note (and any other Notes included in the Lead Securitization) as notes evidencing one whole loan in accordance with the terms of the
Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell each Note together with the Lead
Securitization Note in the manner set forth in the Servicing Agreement and shall be required to require that all offers be submitted to
the Trustee in writing and be accompanied by a refundable deposit of cash in an amount equal to 5% of the offer amount (subject

    	 	35	 

    	 	 

    

to a cap of $2,500,000). Whether any cash
offer constitutes a fair price for such Notes shall be determined by the Trustee; provided, that no offer from an Interested Person
shall constitute a fair price unless (i) it is the highest offer received and (ii) at least two bona fide other offers are received
from independent third parties. In determining whether any offer received represents a fair price for such Notes, the Trustee shall be
supplied with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Servicing Agreement within
the preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select the Appraiser
conducting any such new Appraisal. In determining whether any such offer constitutes a fair price for such Notes, the Trustee shall instruct
the Appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have obtained pursuant
to the Servicing Agreement), as applicable, among other factors, the period and amount of any delinquency on the affected Notes, the
occupancy level and physical condition of the related 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 Noteholders in connection with making such determination. Notwithstanding the foregoing, the Lead Securitization Noteholder (or
the Special Servicer acting on behalf of the Lead Securitization Noteholder) shall not be permitted to sell the Non-Lead Securitization
Notes if they become a Defaulted Mortgage Loan without the written consent of each Non-Lead Securitization Noteholder (provided
that such consent is not required if such Non-Lead Securitization Noteholder is a Borrower Restricted Party) unless the Special Servicer
has delivered to such Non-Lead Securitization Noteholder: (a) at least fifteen (15) Business Days’ prior written notice of any
decision to attempt to sell the Non-Lead Securitization Notes; (b) at least ten (10) days prior to the proposed sale date, a copy of
each bid package (together with any material amendments to such bid packages) received by the Special Servicer in connection with any
such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage
Loan, and any documents in the servicing file maintained by the Master Servicer and/or Special Servicer with respect to the Mortgage
Loan reasonably requested by such Non-Lead Securitization Noteholder that are material to the price of the Non-Lead Securitization Notes
and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to the other offerors and the
Controlling Noteholder) prior to the proposed sale date, all information and other documents being provided to other offerors and all
leases or other documents that are approved by the Special Servicer in connection with the proposed sale; provided, that such
Non-Lead Securitization Noteholder may waive any of the delivery or timing requirements set forth in this sentence. Subject to the terms
of the Servicing Agreement, each of the Controlling Noteholder, the Controlling Class Representative, any other Noteholder (or any controlling
class representative or directing holder on its behalf under the Non-Lead Securitization Servicing Agreement) shall be permitted to bid
at any sale of the Non-Lead Securitization Note unless such Person is a Borrower Restricted Party.

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

    	 	36	 

    	 	 

    

deliver its original Non-Lead Note endorsed
in blank, to or at the direction of the Lead Securitization Noteholder in connection with the consummation of any such sale.

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

(b)                The
administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees to be bound
by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall service the
Mortgage Loan in accordance with the terms of this Agreement, including without limitation, the rights of the Controlling Noteholder
set forth in Section 4(f) below and consistent with the Accepted Servicing Practices. Servicing of the Mortgage Loan shall
be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan, by the Special Servicer, in each
case pursuant to the Servicing Agreement and consistent with the Accepted Servicing Practices. Notwithstanding anything to the contrary
contained herein, in accordance with the Servicing Agreement, the Lead Securitization Noteholder shall cause the Master Servicer and
the Special Servicer to service and administer the Mortgage Loan in accordance with the Accepted Servicing Practices, taking into account
the interests of the Noteholders as a collective whole, in each case subject to the terms and conditions of this Agreement, and any Non-Lead
Securitization Noteholder that is not a Borrower Restricted Party shall be deemed a third party beneficiary of such provisions of the
Servicing Agreement. The foregoing provisions of this Section 4(b) shall not limit or modify the rights of the Controlling
Noteholder and/or the Controlling Noteholder Representative to exercise their respective rights specifically set forth under this Agreement.

(c)                 Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and this Agreement (including,
without limitation, Sections 4(f) and (5), if the Lead Securitization Noteholder in connection with a Workout of
the Mortgage Loan modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage Loan is decreased, (ii) the
Interest Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments of interest or principal on
such Mortgage Loan are waived, reduced or deferred or (iv) any other adjustment (other than an increase in the Interest Rate or
increase in scheduled amortization payments) is made to any of the terms of the Mortgage Loan, such waiver, modification or amendment
shall be effected, to the maximum extent reasonably possible, in a manner consistent with the payment priority set forth in Section
3(b), and to the extent it is not, payments to the Note A Holders and the Note B Holder pursuant to Section 3 shall
be made as though such Workout did not occur, with the payment terms of each Note remaining the same as they are on the date hereof,
and, in any event, the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable
to such

    	 	37	 

    	 	 

    

Workout shall be borne by the Noteholders in
a manner consistent with the payment priorities in Section 3. Subject to the Servicing Agreement and this Agreement (including
without limitation Sections 4(f) and 5), in the case of any modification or amendment described above, the Lead
Securitization Noteholder will have the sole authority and ability to revise the payment provisions set forth in Section 3
above in a manner that reflects the subordination of the B Note to the A Notes with respect to the loss that is the result of such amendment
or modification, including: (i) the ability to increase the Percentage Interest of an A Note, and to increase or reduce the Percentage
Interest of the B Note, in a manner that reflects a loss in principal as a result of such amendment or modification and (ii) the
ability to change the Interest Rate applicable to a Note in order to reflect a reduction in the Interest Rate of the Mortgage Loan but
shall not be permitted to change the order of the clauses set forth in Section 3 hereof. Notwithstanding the foregoing, if
any Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage Loan, for purposes of this
paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage Loan but will be deemed due
on the extended maturity date of the Mortgage Loan.

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

(e)                 If
any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage Loan shall
be administered such that the Notes shall each qualify at all times as (or as interests in) a “qualified mortgage” within
the meaning of Section 860G(a)(3) of the Code; (ii) any real property (and related personal property) acquired by or on behalf
of the Noteholders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure of the Mortgage
or lien on such property following a default on the Mortgage Loan shall be administered so that the interests of the Noteholders therein
shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code; and (iii)
no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from any action of the Borrower,
or exercise or refrain from exercising any powers or rights which the Noteholders may have under the Mortgage Loan Documents, if any
such action would constitute a “significant modification” of the Mortgage Loan, within the meaning of Section 1.860G-2(b)
of the regulations of the United States Department of the Treasury, more than three months after the earliest startup day of any REMIC
which includes the Lead Securitization Note (or any portion thereof). The Noteholders agree that the provisions of this Section 4(e)
shall be effected by compliance by the Lead Securitization Noteholder or its assignees with this Agreement or the Servicing Agreement
or any other agreement which governs the administration of the Mortgage Loan or the Lead Securitization Noteholder’s interests
therein. All costs and expenses of compliance with this Section 4(e), to the extent that such costs and expenses relate
to administration of a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions
or the actual payment of any REMIC tax or expense, shall be borne by each Noteholder with respect to the REMIC containing the Note owned
by such Noteholder.

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

(f)                 (i)       Subject
to clauses (ii) or (iii) below, with respect to any consent, modification, amendment or waiver under or other action in respect of the
Mortgage Loan (whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute a Major Decision, the
Servicer shall provide the Controlling Noteholder (or its Controlling Noteholder Representative) with at least ten (10) Business Days
(or, in the case of a determination of an Acceptable Insurance Default, twenty (20) days) prior notice requesting consent to the requested
Major Decision. The Servicer shall not take any action with respect to such Major Decision (or make a determination not to take action
with respect to such Major Decision), unless and until the Special Servicer receives the written consent of the Controlling Noteholder
(or its Controlling Noteholder Representative) before implementing a decision with respect to such Major Decision; provided that following
the securitization of the Note that entitles its holder to be the Controlling Noteholder, the provisions of the Lead Servicing Agreement
shall govern the consent and consultation rights under this Agreement.

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

    	 	39	 

    	 	 

    

the Lead Securitization Noteholder (or a Servicer
acting on its behalf) of its duties to comply with the Accepted Servicing Practices.

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

The Special Servicer shall
be required to (A) provide copies to each Senior Noteholder that is a Non-Controlling Noteholder of any notice, information and report
that is (or, without regard to the occurrence of any control termination event, consultation termination event or similar event, would
be) required to be provided to the Controlling Noteholder or its representative pursuant to the Servicing Agreement with respect to any
Major Decisions, or the implementation of any recommended actions outlined in an Asset Status Report, within the same time frame that
such notice, information and report is (or, if applicable, would be) required to be provided to the Controlling Noteholder or its representative,
and (B) consult with each Senior Noteholder that is a Non-Controlling Noteholder or its representative on a strictly non-binding basis,
if after having received such notices, information and reports, any such Non-Controlling Noteholder requests consultation with respect
to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report, and consider alternative
actions recommended by such Non-Controlling Noteholder or its representative; provided that after the expiration of a period of
ten (10) Business Days from the delivery to any such Non-Controlling Noteholder by the Special Servicer of written notice of a proposed
action, together with copies of the notice, information and reports, the Special Servicer shall no longer be obligated to consult with
such Non-Controlling Noteholder, whether or not such Non-Controlling Noteholder has responded within such ten (10) Business Day period.
Notwithstanding the consultation rights of any Senior Noteholder that is a Non-Controlling Noteholder set forth in the immediately preceding
sentence, the Special Servicer may make any Major Decision or take any recommended action outlined in an asset status report before the
expiration of the aforementioned ten (10) Business Day period if the Special Servicer determines that immediate action with respect thereto
is necessary to protect the interests of the Noteholders. In no event shall the Special Servicer be obligated at any time to follow or
take any alternative actions recommended by a Non-Controlling Noteholder.

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

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

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(h)              
 Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time a Borrower Restricted
Party is a Noteholder (a “Borrower Party Noteholder”), then (i) such Borrower Party Noteholder shall not have any rights
as a Controlling Noteholder or a Controlling Class Representative, (ii) such Borrower Party Noteholder shall have no right to appoint
or terminate the Master Servicer or Special Servicer, (iii) such Borrower Party Noteholder shall have no right to consult with or advise
the Master Servicer or Special Servicer, and shall have no right to review and approve or comment on any Asset Status Report and (iv)
in each and every instance where, pursuant to this Agreement or the Servicing Agreement, the Master Servicer or Special Servicer must
take into account the interests of each Noteholder (or words of similar import), such consideration shall be given to the Borrower Party
Noteholder only in its capacity as a holder of the applicable Note.

Section 5.               
Appointment of Controlling Noteholder Representative.

(a)                The
Controlling Noteholder shall have the right at any time to appoint a controlling noteholder representative to exercise its rights hereunder
(the “Controlling Noteholder Representative”). The Controlling Noteholder shall have the right in its sole discretion
at any time and from time to time to remove and replace the Controlling Noteholder Representative. When exercising its various rights
under Section 4 and elsewhere in this Agreement, the Controlling Noteholder may, at its option, in each case, act through
the Controlling Noteholder Representative. The Controlling Noteholder Representative may be any Person (other than a Borrower Restricted
Party), including, without limitation, the Controlling Noteholder, any officer or employee of the Controlling Noteholder, any Affiliate
of the Controlling Noteholder or any other unrelated third party. No such Controlling Noteholder Representative shall owe any fiduciary
duty or other duty to any other Person (other than the Controlling Noteholder). All actions that are permitted to be taken by the Controlling
Noteholder under this Agreement may be taken by the Controlling Noteholder Representative acting on behalf of the Controlling Noteholder
and other Noteholders (and any Servicer) will accept such actions of the Controlling Noteholder Representative as actions of the Controlling
Noteholder. The Lead Securitization Noteholder (or any Servicer on its behalf) shall not be required to recognize any Person as a Controlling
Noteholder Representative until the Controlling Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such
appointment and, if the Controlling Noteholder Representative is not the same Person as the Controlling Noteholder, the Controlling Noteholder
Representative provides the Lead Securitization Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment,
an address, any fax number and any email address 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, telephone numbers, any
fax numbers and any email addresses). The Controlling Noteholder shall promptly deliver such information to any Servicer. None of the
Servicers, the Certificate Administrator or the Trustee shall be required to recognize any Person as a Controlling Noteholder Representative
until they receive such information from the Controlling Noteholder. The Controlling Noteholder agrees to inform each such Servicer or
Trustee of the then-current Controlling Noteholder Representative.

(b)                Neither
the Controlling Noteholder Representative nor the Controlling Noteholder will have any liability to any other Noteholder or any other
Person for any action taken, or for refraining from the taking of any action pursuant to this Agreement or the Servicing

    	 	41	 

    	 	 

    

Agreement, or for errors in judgment, absent
any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Noteholders agree that
the Controlling Noteholder Representative and the Controlling Noteholder may take or refrain from taking actions that favor the interests
of one Noteholder over any other Noteholder, and that the Controlling Noteholder Representative may have special relationships and interests
that conflict with the interests of a Noteholder and, absent willful misfeasance, bad faith or gross negligence on the part of the Controlling
Noteholder Representative or such Controlling Noteholder, as the case may be, agree to take no action against the Controlling Noteholder
Representative, such Controlling Noteholder 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 Noteholder Representative nor such Controlling Noteholder
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 solely in the interests of any
Noteholder.

(c)                The
other Noteholders acknowledge and agree all of the aforementioned rights and obligations of the Controlling Noteholder and the Controlling
Noteholder Representative set forth in Sections 4(f) and this Section 5 shall be exercisable by the applicable
Person specified in the Servicing Agreement as and to the extent set forth in the Servicing Agreement.

Section 6.               
Special Servicer. The Controlling Noteholder (or its Controlling Noteholder Representative), at its expense (including,
without limitation, the reasonable costs and expenses of counsel to any third parties and costs and expenses of the terminated Special
Servicer), shall have the right, at any time from time to time, to appoint a replacement Special Servicer with respect to the Mortgage
Loan. The Controlling Noteholder (or its Controlling Noteholder Representative) shall be entitled to terminate the rights and obligations
of the Special Servicer under the Servicing Agreement, with or without cause, upon at least ten (10) Business Days’ prior written
notice to the Special Servicer (provided, however, that the Controlling Noteholder and/or Controlling Noteholder Representative shall
not be liable for any termination or similar fee in connection with the removal of the Special Servicer in accordance with this Section 6);
such termination shall not be effective unless and until (A) each Rating Agency delivers a Rating Agency Confirmation (to the extent any
portion of the Mortgage Loan has been securitized); (B) the initial or successor Special Servicer has assumed in writing (from and after
the date such successor Special Servicer becomes the Special Servicer) all of the responsibilities, duties and liabilities of the Special
Servicer under the Servicing Agreement from and after the date it becomes the Special Servicer as they relate to the Mortgage Loan pursuant
to an assumption agreement reasonably satisfactory to the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably
satisfactory to the Trustee to the effect that (x) the designation of such replacement to serve as Special Servicer is in compliance with
the Servicing Agreement, (y) such replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage Loan
and (z) subject to customary qualifications and exceptions, the applicable Servicing Agreement will be enforceable against such replacement
in accordance with its terms. The Lead Securitization Noteholder shall promptly provide copies to any terminated Special Servicer of the
documents referred to in the preceding sentence. The Lead Securitization Noteholder will reasonably cooperate with the Controlling Noteholder
in order to satisfy the foregoing conditions, including the Rating Agency Confirmation.

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Section 7.               
Payment Procedure.

(a)              
The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3
and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the
Collection Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization
Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead
Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two
(2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s acting on its behalf) receipt of
properly identified and available funds from or on behalf of the Borrower.

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

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

(d)                 Each
Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess
of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or the Master Servicer
on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the terms of this Agreement. The
Lead Securitization Noteholder (or the Master Servicer on its behalf) shall have the right to offset any amounts due hereunder from any
other Noteholder, as applicable, with respect to the Mortgage Loan against any future payments due to such other Noteholder, as applicable,
under the Mortgage Loan, provided, that each Noteholder’s obligations under this Section 7 are separate and distinct
obligations from one another and in no event shall the Lead Securitization Noteholder (or the Master Servicer on its behalf) enforce
the

    	 	43	 

    	 	 

    

obligations of one Noteholder against another
Noteholder. Each Noteholder’s obligations under this Section 7 constitute absolute, unconditional and continuing obligations.

Section 8.               
Limitation on Liability of the Noteholders. No Noteholder (including any Servicer on a Noteholder’s behalf, but only
to the extent that the Servicing Agreement does not impose any other standard upon any Servicer, in which case the Servicing Agreement
shall control) shall have any liability to any other Noteholder except with respect to losses actually suffered due to the gross negligence,
willful misconduct or breach of this Agreement on the part of such Noteholder.

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

The Note B Holder acknowledges
that, subject to the terms and conditions hereof and the obligation of any Non-Lead Securitization Noteholder (including any Non-Lead
Servicer) to comply with, and except as otherwise required by, the Accepted Servicing Practices (as if such standard was applicable to
any Non-Lead Securitization Noteholder as a “servicer” thereunder), each Non-Lead Securitization Noteholder (including any
Non-Lead Servicer) may exercise, or omit to exercise, any rights that such Non-Lead Securitization Noteholder may have under this Agreement
and the Servicing Agreement in a manner that may be adverse to the interests of the Note B Holder and that any Non-Lead Securitization
Noteholder (including any Non-Lead Servicer) shall have no liability whatsoever to the Note B Holder in connection with any Non-Lead Securitization
Noteholder’s exercise of rights or any omission by a Non-Lead Securitization Noteholder to exercise such rights other than as described
above; provided, however, that the Non-Lead Servicer must act in accordance with the servicing standard under the Non-Lead
Securitization Servicing Agreement.

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

Section 9.               
Bankruptcy. Subject to the provisions of Section 4(f) hereof and the Accepted Servicing Practices, each Noteholder
hereby covenants and agrees that only the Lead Securitization Noteholder (or the Master Servicer on its behalf) has the right to institute,
file,

    	 	44	 

    	 	 

    

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

Section 10.           
Representations of the Note B Holder. The Note B Holder represents, solely as to itself and its Note, and it is specifically
understood and agreed, that it is acquiring such Note for its own account in the ordinary course of its business and none of the other
Noteholders shall have any liability or responsibility to the Note B Holder except (i) as expressly provided herein or (ii) for actions
that are taken or omitted to be taken by such other Noteholder that constitute gross negligence or willful misconduct or that constitute
a breach of this Agreement. The Note B Holder represents and warrants solely as to itself 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
its charter or any law or contractual restriction binding upon the Note B Holder, and that this Agreement is the legal, valid and binding
obligation of the Note B Holder enforceable against the Note B 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. The Note B Holder represents and warrants solely as to itself that it is duly organized, validly existing, in good standing and possesses
of all licenses and authorizations necessary to perform its obligations hereunder. The Note B Holder represents and warrants as to itself
that (a) this Agreement has been duly executed and delivered by the Note B Holder, (b) to the Note B Holder’s actual knowledge,
all consents,

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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
the Note B Holder have been obtained or made and (c) to the Note B Holder’s actual knowledge, there is no pending action, suit or
proceeding, arbitration or governmental investigation against the Note B Holder, an adverse outcome of which would materially and adversely
affect its performance under this Agreement.

The Note B Holder acknowledges
that no other Noteholder owes the Note B Holder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents
and, except as provided herein, need not consult with the Note B Holder with respect to any action taken by such other Noteholder, as
applicable, in connection with the Mortgage Loan.

The Note B Holder expressly
and irrevocably waives for itself and any Person claiming through or under the Note B Holder any and all rights that it may have under
Section 1315 of the New York Real Property Actions and Proceedings Law or the provisions of any similar law which purports to give
a junior loan noteholder the right to initiate any loan enforcement or foreclosure proceedings.

Section 11.           
Representations of each Initial Noteholder. Each Initial Noteholder represents and warrants that the execution, delivery
and performance of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does
not contravene such Noteholder’s charter or any law or contractual restriction binding upon such Noteholder and that this Agreement
is the legal, valid and binding obligation of such Noteholder as applicable enforceable against it in accordance with its terms. Each
Initial Noteholder represents and warrants that it is duly organized, validly existing, in good standing and possession of all licenses
and authorizations necessary to carry on its respective business. Each Initial Noteholder represents and warrants that (a) this Agreement
has been duly executed and delivered by such Noteholder, (b) to such Noteholder’s actual knowledge, all consents, approvals, authorizations,
orders or filings of or with any court or governmental agency or body, if any, required for the execution, delivery and performance of
this Agreement by such Noteholder have been obtained or made and (c) to such Noteholder’s actual knowledge, there is no pending
action, suit or proceeding, arbitration or governmental investigation against such Noteholder, an adverse outcome of which would materially
and adversely affect its performance under this Agreement.

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

Section 12.           
Independent Analysis of the Note B Holder. The Note B Holder acknowledges that it has, independently and without reliance
upon any Initial Noteholder, except with respect to the representations and warranties provided by an Initial Noteholder herein and in
any documents or instruments executed and delivered by the such Initial Noteholder in connection herewith (including the representations
and warranties provided in the agreement pursuant to which it acquired Note B), and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to purchase Note B and the Note B Holder

    	 	46	 

    	 	 

    

accepts responsibility therefor. The Note B
Holder hereby acknowledges that, other than the representations and warranties provided herein and in such other documents or instruments,
no Initial Noteholder has made any representations or warranties with respect to the Mortgage Loan, subject to such representations and
warranties as provided by such Initial Noteholder herein and in such other documents and instruments, and that no Initial Noteholder shall
have any responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the
Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished to an Initial Noteholder
in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be
created by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. The Note B Holder assumes all risk of loss in
connection with its Note except as specifically set forth herein.

Section 13.           
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto shall be deemed to constitute the relationship created hereby between or among any of the Noteholders as a partnership, association,
joint venture or other entity. None of the Noteholders shall have any obligation whatsoever to offer to any other Noteholder the opportunity
to purchase a Note interest in any future loans originated by such Noteholder or its Affiliates, and if such Noteholder chooses to offer
to any other Noteholder the opportunity to purchase a Note interest in any future mortgage loans originated by the such Noteholder or
their respective Affiliates, such offer shall be at such purchase price and interest rate as the offering Noteholder chooses, in its sole
and absolute discretion. No Noteholder shall have any obligation whatsoever to purchase from any other Noteholder an interest in any future
loans originated by such Noteholder or their respective Affiliates.

Section 14.           
Not a Security. No Note shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities
Exchange Act of 1934.

Section 15.           
Other Business Activities of the Noteholders. Each Noteholder acknowledges that each other Noteholder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Borrower or (b) any direct
or indirect parent of the Borrower or (c) any Affiliate of the Borrower or (d) any Affiliate of any direct or indirect parent of the Borrower,
(ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Borrower or any Affiliate of the holder
of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Borrower or any Affiliate of a holder of such
preferred equity (each, a “Borrower Related Party”), and receive payments on such other loans or extensions of credit
to 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 16.           
Sale of the Notes.

(a)              
The Note B Holder agrees that it will not Transfer all or any portion of its Note except in accordance with this Section 16.
The Note B Holder shall have the right, without the need to obtain the consent of any other Noteholder or any other Person, to Transfer
49% or less (in the aggregate) of its interest in its Note to any Person, provided that any such Transfer shall be made in accordance
with the terms of this Section 16. The Note B Holder shall have the right to Transfer its entire Note or any portion thereof
exceeding 49%, (i) to a Qualified Institutional

    	 	47	 

    	 	 

    

Lender, provided, that (except in the case
of a Transfer to the Lead Securitization) promptly after the Transfer each Senior Noteholder is provided with (x) a representation from
a transferee or the Note B Holder certifying that such transferee is a Qualified Institutional Lender, and (y) a copy of the assignment
and assumption agreement referred to in Section 17 and provided, further, that such transfer would not cause such Note to
be held by more than five persons nor cause there to be no one person owning a majority of such Note and (ii) to an entity that is not
a Qualified Institutional Lender, provided that with respect to this clause (ii), the Note B Holder obtains (1) prior to the Lead Securitization
Date, the consent of the Lead Securitization Noteholder and each other Senior Noteholder, each such consent not to be unreasonably withheld,
conditioned or delayed, and (2) after the Lead Securitization Date, Rating Agency Confirmation (and for avoidance of doubt, no consent
of the Lead Securitization Noteholder or other Senior Noteholder shall be required after the closing of the Lead Securitization); provided
that in each of case (1) and (2), (x) promptly after the Transfer each Senior Noteholder is provided with a copy of the assignment and
assumption agreement referred to in Section 17 and (y) such transfer would not cause the subject Note to be held by more than
five persons; and provided further, however, that if such transfer would cause there to be no one person owning a majority of the
subject Note, then such transfer will not be permitted unless persons owning a majority of the subject Note designate one of such persons
to act on behalf of such persons owning such majority. If the subject Note is held by more than one Noteholder at any time, the holders
of a majority of interest in the subject Note shall immediately appoint a representative to exercise all rights of the Note B Holder hereunder.
Notwithstanding the foregoing, without the Lead Securitization Noteholder’s prior consent, which may be withheld in the Lead Securitization
Noteholder’s sole and absolute discretion, no Note B Holder shall Transfer all or any portion of its Note to a Borrower Restricted
Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee. The Note B Holder
agrees that it shall pay the expenses of the Lead Securitization Noteholder (including all expenses of the Master Servicer and the Special
Servicer) and the other Non-Lead Securitization Noteholders (including all expenses of the related Non-Lead Master Servicers and the related
Non-Lead Special Servicers) in connection with any such Transfer.

(b)              
All Transfers under Section 16(a) shall be made upon written notice to the Senior Noteholders not later than the date
of such Transfer, and (except in connection with a Transfer to the Lead Securitization) each transferee shall (i) execute an assignment
and assumption agreement whereby such transferee assumes all or a ratable portion, as the case may be, of the obligations of the Note
B Holder hereunder with respect to its Note from and after the date of such assignment (or, in the case, of a pledge, collateral assignment
or other encumbrance made in accordance with Section 16(e) by the Note B Holder of its Note solely as security for a loan
to the Note B Holder made by a third-party lender whereby the Note B Holder remains fully liable under this Agreement, on or before the
date on which such third-party lender succeeds to the rights of the Note B Holder by foreclosure or otherwise, such third-party lender
executes an agreement that such lender shall be bound by the terms and provisions of this Agreement and the obligations of the Note B
Holder hereunder) and (ii) agree in writing to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in
effect with respect to the Mortgage Loan, in which event the parties will enter into or agree to be bound by any replacement servicing
agreement therefor in accordance with the provisions hereof. Upon the consummation of a Transfer of all or any portion of Note B in accordance
with this Agreement, the transferring Person shall be released from all liability arising under this Agreement with respect to Note B
(or the portion thereof that was the subject of such Transfer), for the period after the effective date of such Transfer (it being

    	 	48	 

    	 	 

    

understood and agreed that the foregoing release
shall not apply in the case of a sale, assignment, transfer or other disposition of a participation interest in Note B as described in
clause (c) below). In connection with any such permitted transfer of a portion of Note B and for all purposes of this Agreement,
each Senior Noteholder need only recognize the majority holder of Note B for purposes of notices, consents and other communications between
the Noteholders, and such majority holder of Note B shall be the only Person authorized hereunder to exercise any rights of the Note B
Holder under this Agreement; provided, however, the majority holder of Note B may from time to time designate any other
Person as an additional party entitled to receive notices, consents and other communications and/or to exercise rights on behalf of the
Note B Holder hereunder by delivering written notice thereof to each Senior Noteholder, and, from and after delivery of such notice, such
designee shall be so authorized hereunder and shall be the only party entitled to receive such notices, consents and such other communications
and/or to exercise such rights.

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

(d)              
Each of the Senior Noteholders shall have the right to Transfer all or any portion of its Senior Note without the prior consent
of any other Noteholder (i) with respect to each Senior Note prior to an Event of Default, to any party other than a Borrower Restricted
Party and (ii) after an Event of Default, to any party, including a Borrower Restricted Party; provided, however, that (1)
the Senior Noteholder must notify each Rating Agency and each other Noteholder before transfer to a Borrower Restricted Party, and (2)
following such Transfer of any Senior Note, the Mortgage Loan continues to be serviced in its entirety pursuant to the Servicing Agreement
by a Servicer unaffiliated with the Borrower. For the avoidance of doubt, no Noteholder or the Master Servicer shall have any right to
Transfer or cause the Transfer of any other Note.

(e)              
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other
than the Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder and that is either a
Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent)
or better by each Rating Agency (a “Note Pledgee”), on terms and conditions set forth in this Section 16(e),
it being further agreed that a financing provided by a Note Pledgee to a Noteholder or any person which Controls such Noteholder that
is secured by such Noteholder’s

    	 	49	 

    	 	 

    

interest in the applicable Note and is structured
as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee which is not a Qualified
Institutional Lender may not take title to the pledged Note without (a) prior to the first Securitization of any Note, the consent of
each other Noteholder and (b) after the closing of the first Securitization of any Note, Rating Agency Confirmation. Upon written notice
by the applicable Noteholder to each other Noteholder and any Servicer that a Pledge has been effected (including the name and address
of the applicable Note Pledgee), each other Noteholder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to
give Note Pledgee written notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of which
default such Noteholder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default
by the pledging Noteholder in respect of its obligations to each other Noteholder hereunder, but such Note Pledgee shall not be obligated
to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against
such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed;
(iv) that such other Noteholder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously
with the giving of same to the pledging Noteholder and accept any cure thereof by such Note Pledgee which such pledging Noteholder has
the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Noteholder; (v) that such other
Noteholder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any
such certificate(s) shall be in a form reasonably satisfactory to such other Noteholder; and (vi) that, upon written notice (a “Redirection
Notice”) to each other Noteholder and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any
applicable cure periods, under the pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement
between the pledging Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and
until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that
any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement
or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases each other Noteholder and any Servicer
from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with any Redirection
Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted
to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept an assignment in lieu of foreclosure
as to such collateral), in accordance with applicable law and this Agreement. In such event, the Noteholders and any Servicer shall recognize
such Note Pledgee (and any transferee other than the Borrower or any Affiliate thereof which is also a Qualified Institutional Lender
at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as
the successor to the pledging Noteholder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified
Institutional Lender shall assume in writing the obligations of the pledging Noteholder hereunder accruing from and after such Transfer
(i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The
rights of a Note Pledgee under this Section 16(e) shall remain effective as to any Noteholder (and any Servicer) unless and
until such Note Pledgee shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the
pledged Note has terminated.

    	 	50	 

    	 	 

    

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

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

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

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

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

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

Section 17.           
Registration of Transfer. In connection with any Transfer of a Note (but excluding (x) any participant and (y) any Note
Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby such transferee
assumes all of the obligations of the applicable Noteholder hereunder with respect to such Note thereafter accruing and agrees to be bound
by the terms of this Agreement, including the restriction on Transfers set forth in Section 15, from and after the date of such assignment.
Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment and assumption agreement in connection
with any Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement. In connection with a Transfer of a Note,
the Agent shall not recognize any attempted or purported transfer of any Note in violation of the provisions of Section 15 and this
Section 17. Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each
Noteholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent and any other Noteholder against any
liability that may result if the transfer is not made in accordance with the provisions of this Agreement. Upon a Securitization of the
Lead Securitization Note, the Certificate Administrator shall automatically become and be the Agent.

    	 	51	 

    	 	 

    

Section 18.           
Registration of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts such
appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of which the
Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in Section 17, and the
principal amounts (and stated interest) of the Note owing to each such Noteholder, shall be registered in the Note Register. The Person
in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement,
except in the case of the Initial Noteholders who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent shall
provide such party with the names and addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, the
Noteholders hereby designate such person as its agent under this Section 18 solely for purposes of maintaining the Note Register.
The parties intend for the Notes to be in registered form for federal income tax purposes under Section 5f.103-1(c) of the United
States Treasury Regulations.

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

Section 20.           
No Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders.
Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Securitization Noteholder shall have any interest
in any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds of any sale, lease
or other disposition thereof shall be received, then each Non-Lead Securitization Noteholder shall be entitled to receive its share of
such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

Section 21.             Governing
Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP
OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTIONS 5-1401 AND 5-1402 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

Section 22.             Submission
to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

    	 	52	 

    	 	 

    

(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

(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 23.             
Modifications; Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing
signed by each Noteholder. Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders shall not amend
or modify this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation from the Rating Agencies
shall be required in connection with a modification or amendment (i) to cure any ambiguity, to correct or supplement any provisions herein
that may be defective or inconsistent with any other provisions herein or with the Servicing Agreement, (ii) entered into pursuant to
Section 35 of this Agreement or (iii) to correct or supplement any provision herein that may be defective or inconsistent with any
other provisions of this Agreement.

Section 24.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and permitted assigns. Except as provided herein, none of the provisions of this Agreement
shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 15, each Noteholder may assign or
delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits
of the applicable Noteholder hereunder, including, without limitation, the right to make further assignments and grant additional Notes.

Section 25.            
Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute
one and the same instrument.

    	 	53	 

    	 	 

    

Delivery of an executed counterpart of a signature
page of this Agreement (and, to the extent permitted under applicable law, each officer’s certificate, receipt or similar closing
document delivered in connection with the closing of this transaction) in Portable Document Format (PDF), Tagged Image File Format (TIF
or TIFF), .JPG or .JPEG file format, or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart
of this Agreement.

Section 26.           
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 27.           
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 28.           
Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter
contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

Section 29.           
Withholding Taxes.

(a)              
If the Lead Securitization Noteholder or the Borrower shall be required by law to deduct and withhold Taxes from interest, fees
or other amounts payable to any Non-Lead Securitization Noteholder with respect to the Mortgage Loan as a result of such Non-Lead Securitization
Noteholder constituting a Non-Exempt Person, the Lead Securitization Noteholder, or the Master Servicer on its behalf, shall be entitled
to do so with respect to such Non-Lead Securitization Noteholder’s interest in such payment (all amounts so withheld being deemed
paid to such Non-Lead Securitization Noteholder), provided that the Lead Securitization Noteholder shall furnish such Non-Lead
Securitization Noteholder 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 Non-Lead Securitization Noteholder to seek any allowable credits or deductions
for the Taxes so withheld in each jurisdiction in which such Non-Lead Securitization Noteholder is subject to tax.

(b)                 The
Non-Lead Securitization Noteholders shall and hereby agrees to indemnify the Lead Securitization Noteholder against and hold the Lead
Securitization Noteholder harmless from and against any Taxes, interest, penalties and reasonable attorneys’ fees, expenses and
disbursements arising or resulting from any failure of the Lead Securitization Noteholder (or the Master Servicer on its behalf) to withhold
Taxes from payment made to any Non-Lead Securitization Noteholder in reliance upon any representation, certificate, statement, document
or instrument made or provided by such Non-Lead Securitization Noteholder to the Lead Securitization Noteholder in connection with the
obligation of the Lead Securitization Noteholder to withhold Taxes from payments made to such Non-Lead Securitization Noteholder, it
being expressly understood and agreed that (i) the Lead Securitization Noteholder shall be absolutely and unconditionally entitled to
accept any such representation, certificate, statement, document or

    	 	54	 

    	 	 

    

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

(c)                 
Each Non-Lead Securitization Noteholder represents to the Lead Securitization Noteholder (for the benefit of the Borrower) that
it is not a Non-Exempt Person and that neither the Lead Securitization Noteholder nor the 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. From time to time as necessary
during the term of this Agreement, any Non-Lead Securitization Noteholder (if not included at such time in the Lead Securitization Trust)
shall deliver to the Lead Securitization Noteholder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Noteholder
substantiating that such Non-Lead Securitization Noteholder is not a Non-Exempt Person and that the Lead Securitization Noteholder 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 any Non-Lead Securitization Noteholder 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 Noteholder an Internal Revenue Service Form W-9 and (ii) if any Non-Lead Securitization Noteholder 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 Borrower is treated for United States income tax purposes as derived in whole or part from sources within the United States,
such Non-Lead Securitization Noteholder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Noteholder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments), Form W-8BEN-E or Form W-8BEN, or successor
forms, as may be required from time to time, duly executed by such Non-Lead Securitization Noteholder, as evidence of such Non-Lead Securitization
Noteholder’s exemption from the withholding of United States tax with respect thereto. The Lead Securitization Noteholder shall
not be obligated to make any payment hereunder to any Non-Lead Securitization Noteholder in respect of its respective Non-Lead Securitization
Note or otherwise until such Non-Lead Securitization Noteholder shall have furnished to the Lead Securitization Noteholder the requested
forms, certificates, statements or documents.

Section 30.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will be held
by the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder) who shall act as secured
party under the Mortgage Loan Documents on behalf of the registered holders of the Notes. Notwithstanding anything to the contrary in
this Agreement, upon the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held
by the Custodian. Each Note shall be held by the respective Noteholder or a custodian appointed by such Noteholder.

Section 31.           
Notices. All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile transmission
(during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges prepaid), (iv)
sent

    	 	55	 

    	 	 

    

by electronic mail containing language requesting
the recipient to confirm receipt thereof if a party has provided an electronic mail address and only if such electronic mail is promptly
followed by a written notice or (v) certified United States mail, postage prepaid return receipt requested, and addressed to the respective
parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter inform the other party
by written notice given as aforesaid. All written notices so given shall be deemed effective upon receipt.

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

Section 32.           
Broker. Each Noteholder represents to each other Noteholder that no broker was responsible for bringing about this transaction.

Section 33.           
Certain Matters Affecting the Agent.

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

(b)               The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate or
assignment and assumption agreement delivered to the Agent pursuant to Section 17;

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

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

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

(f)                   The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 17; and

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

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Section 34.           
Termination of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Lead Securitization
Noteholder. In the event that the Agent is terminated pursuant to this Section 34, all of its rights and obligations under
this Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

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

Section 35.            
Resizing. In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below in this paragraph,
that if a Senior Noteholder determines that it is advantageous to resize one or more of its Senior Notes by causing the Borrower to execute
amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating the principal
of such Senior Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder
to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding
New Notes following the creation thereof is no greater than the principal balance of such Senior Note or Senior Notes immediately prior
to the creation of the New Notes, (ii) the weighted average Interest Rate of all outstanding New Notes (based on the relative principal
balance of such New Notes) following the creation thereof is the same as the Interest Rate of the related Senior Note or Senior Notes
immediately prior to the creation of the New Notes, and (iii) no such resizing shall (x) change the interest allocable to, or
the amount of any payments due to, any other Noteholder, or priority of such payments, or (y) increase any other Noteholder’s
obligations or decrease any other Noteholder’s rights, remedies or protections. In connection with any resizing of a Senior Note,
the related Senior Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion.

Section 36.           
Conflict. To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on the other,
this Agreement shall control.

Section 37.           
Electronic Signatures. Each of the parties hereto agrees that the transaction consisting of this Agreement (and, to the
extent permitted under applicable law, each officer’s certificate, receipt or similar closing document delivered in connection with
the closing of this transaction) may be conducted by electronic means. Each party agrees, and acknowledges that it is such party’s
intent, that if such party signs this Agreement (or, if applicable, such closing

    	 	57	 

    	 	 

    

document) using an electronic signature, it
is signing, adopting, and accepting this Agreement or such closing document and that signing this Agreement or such closing document using
an electronic signature is the legal equivalent of having placed its handwritten signature on this Agreement or such closing document
on paper. The use of electronic signatures and electronic records (including, without limitation, any contract or other record created,
generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability
as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any
other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial
Code.

Section 38.           
Cooperation in Securitization.

(a)              
Each Noteholder acknowledges that any Noteholder may elect, in its sole discretion, to include its Note in a Securitization. In
connection with a Securitization of an A Note or Note B, at the request of the related Noteholder, each other Noteholder shall use commercially
reasonable efforts, at the requesting Noteholder’s expense, to satisfy, and to cooperate with the requesting Noteholder in attempting
to cause the Borrower to satisfy, the market standards to which the requesting Noteholder 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 requesting Noteholder in attempting
to cause the 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 Securitization or
otherwise at any time prior to the Securitization no other Noteholder 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 any payments to be made to, such Noteholder, (ii) increase
such Noteholder’s obligations or decrease such Noteholder’s rights, remedies or protections hereunder or under any Mortgage
Loan Document, or (iii) otherwise materially adversely affect the rights and interests of such Noteholder. In connection with any such
Securitization of an A Note or Note B, each other Noteholder agrees to provide for inclusion in any disclosure document relating to the
related Securitization such customary non-confidential information concerning such Noteholder as the requesting Noteholder reasonably
determines to be necessary to satisfy its disclosure obligations in connection with its Securitization. Each Noteholder covenants and
agrees that if it is not the requesting Noteholder, it shall use commercially reasonable efforts to cooperate with the requests of each
Rating Agency and the requesting Noteholder in connection with the preparation of any offering documents in connection with the Securitization,
and to review and respond reasonably promptly with respect to any information relating to it in any Securitization document, all at the
cost and expense of the requesting Noteholder. Each Noteholder acknowledges that the information provided by it to the requesting Noteholder
pursuant to this Section 38 may be incorporated into the offering documents for a Securitization. A requesting Note A Holder or
the Note B Holder and each Rating Agency shall be entitled to rely on the information supplied by each other Noteholder pursuant to this
Section 38.

    	 	58	 

    	 	 

    

(b)                 A
Note A Holder or the Note B Holder securitizing its Note may, at its election, deliver to each other Noteholder drafts of the preliminary
and final Securitization offering memoranda, prospectus, preliminary prospectus and any other disclosure documents and (in the case of
the Note A-1 Securitization) the Servicing Agreement simultaneously with distributions of any such documents to the general working group
of the related Securitization. Each other Noteholder may, at its election, review and comment thereon insofar as it relates to such other
Noteholder and/or its Note, and, if such other Noteholder elects to review and comment, such other Noteholder shall review and comment
thereon as soon as possible (but in no event later than (i) in the case of the first draft thereof, two (2) Business Days after receipt
thereof and (ii) in the case of each subsequent draft thereof, the deadline provided to the general working group of the related Securitization
for review and comment), and if such other Noteholder fails to respond within such time, such other Noteholder shall be deemed to have
elected to not comment thereon (but no failure to comment shall constitute a waiver of such other Noteholder’s rights hereunder
or under the Mortgage Loan Documents). In the event of any disagreement between any such other Noteholder with respect to the preliminary
and final offering memoranda, prospectus, free writing prospectus or any other disclosure documents the requesting Noteholder’s
determination shall control (the parties acknowledging that no inaccuracy in such documents shall in any respect prejudice any such other
Noteholder’s rights hereunder or under the Mortgage Loan Documents). No such other Noteholder shall have any obligation or liability
with respect to any such offering documents other than the accuracy of any comments it elects to make regarding itself.

(c)                  Notwithstanding
anything herein to the contrary, each of the Note A Holders and the Note B Holder acknowledges and agrees that (i) no other Noteholder
shall be required to incur any out-of-pocket expenses in connection with their respective Securitizations of A Notes and Note B, and
(ii) any such other Noteholder shall only be required to disclose such customary non-confidential information reasonably determined by
the requesting Note A Holder or the Note B, as applicable, to be necessary to satisfy its disclosure obligations in connection with its
Securitization.

[SIGNATURE PAGE FOLLOWS]

 

    	 	59	 

    	 	 

    

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

	 	 
	 	BANK OF MONTREAL, as Initial Note A
	 	Holder and Initial Agent
	 	 	 
	 	 	 
	 	By:	  /s/ David Schell
	 		Name:  David Schell
	 		Title:  Authorized Signatory

 

    	 	BMO 2022-C1 – 111 River Street Co-Lender Agreement	 

    	 	 

    

 

	 	 
	 	BANK OF MONTREAL, as Initial Note B
	 	Holder
	 	 	 
	 	 	 
	 	By:	  /s/ David Schell
	 		Name:  David Schell
	 		Title:  Authorized Signatory

 

 

    	 	BMO 2022-C1 – 111 River Street Co-Lender Agreement	 

    	 	 

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan:

	Mortgage Loan Agreement:	Loan Agreement, dated as of January 21, 2022, among Bank of Montreal and the Borrower, as the same may be further amended, restated, supplemented or otherwise modified from time to time
	Borrower	River and First Streets LLC and 280-10 Group LLC
	Origination Date of the Mortgage Loan and Notes: 	January 21, 2022 (Note A-1, Note A-2, Note A-3 and Note B)
	Initial Principal Amount of 

Mortgage Loan:	$153,750,000
	Location of the Property:	Hoboken, New Jersey
	Maturity Date: 	February 6, 2027

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

	
    Note
    Designation
	
    Initial

    Interest Rate
	
    

    Percentage Interest
	
    Principal
    Balance as of 

January 24, 2022

	Note A-1	 	3.2800%	$37,500,000
	Note A-2	 	3.2800%	$28,000,000
	Note A-3	 	3.2800%	$12,000,000
	Note B	 	3.2800%	$76,250,000
	 	 	 	 

 

 

    	 	A-1	 

    	 	 

    

EXHIBIT B

Initial Noteholders:

If to BMO:

Bank of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Mike Birajiclian

Email: Michael.Birajiclian@bmo.com

with a copy to:

Bank of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Legal Department

Email: BMOCMUSLegal@bmo.com

 

 

 

 

    	 	B-1	 

    	 	 

    

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Westbrook Partners

		2.	DLJ Real Estate Capital Partners

		3.	iStar Financial Inc.

		4.	Capital Trust, Inc.

		5.	Lend-Lease Real Estate Investments

		6.	Archon Capital, L.P.

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

		8.	The Blackstone Group International Ltd.

		9.	Apollo Real Estate Advisors

		10.	Colony Capital, Inc.

		11.	Praedium Group

		12.	J.E. Robert Companies

		13.	Fortress Investment Group LLC

		14.	Lonestar Opportunity Fund

		15.	Clarion Partners

		16.	Walton Street Capital, LLC

		17.	Starwood Financial Trust

		18.	BlackRock, Inc.

		19.	Rialto Capital Management, LLC

20. Rialto Capital Advisors, LLC

		21.	Raith Capital Partners, LLC

		22.	Eightfold Real Estate Capital, L.P.

		23.	Perella Weinberg Partners

		24.	Square Mile Capital Management LLC

 

    	 	C-1

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